BASIS OF REPORTING

REPORTING APPROACH

Developed in accordance with the International Integrated Reporting Council’s (IIRC) framework, Kirloskar Brothers Limited (KBL) is pleased to present its Integrated Report for FY 2022-23. The report provides key insights into how the Company creates value in the short, medium and long-term for its stakeholders.

In addition to this and as mandated by SEBI, stakeholder relevant performance is also reported by KBL through a Business Responsibility Sustainability Report. Both reports have been combined to avoid duplication and ensure comprehensive yet concise information to all shareholders.

As a Company, we are committed to achieving the highest governance standards essential for sustainable value creation. This is reflected in our reporting philosophy which is founded on the principles of accountability, transparency, accuracy, integrity, responsibility and compliance.

FRAMEWORK, GUIDELINES AND STANDARDS

The Report covers key performance indicators in line with the framework. It also links the Company’s capital-wise performance to the United Nations Sustainable Development Goals (UN SDGs). Sections of the document also comply with the requirements of the Companies Act, 2013 (and the rules made thereunder); Indian Accounting Standards; the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015; and the Secretarial Standards issued by the Institute of Company Secretaries of India. Stakeholders are encouraged to read them in conjunction with the contents prepared using the format to get a holistic view of the Company’s annual performance.

BOUNDARY AND SCOPE OF REPORTING

The Report covers information pertaining to, but not limited to, manufacturing facilities, products and solutions, operations and maintenance, office premises of KBL and its material subsidiaries. Disclosures pertaining to the period April 1, 2022, to March 31, 2023, are also covered under this Report, unless stated otherwise. KBL publishes its integrated report on an annual basis.

FORWARD-LOOKING STATEMENTS

Certain statements in this Report regarding KBL’s business operations may constitute forward-looking statements. While these statements reflect the Company’s future expectations, it is important to remain mindful that a number of risks, uncertainties and other important factors could cause actual results to differ materially.

AUDIT AND ASSURANCE

The financial statements presented in the report have been audited by M/s. Sharp and Tannan Associates - Chartered Accountants, Mumbai and the information contained in page no. 42 to 83 in line with framework has been independently assured by M/s Ernst and Young Associates LLP Mumbai.

KBL invites its readers to share their recommendations and feedback as part of its ongoing engagement with stakeholders to support the company’s continual progress. Any suggestions and feedback can be sent to grievance.redressal@kbl.co.in