1. No category

Annexure 1
List of Large Companies in the Sample
S. No.
Name of the
Company
Sector
URL
1
Indian Oil
Corporation
Fuel, Power
& Steel
http://www.iocl.com/Aboutus/FinancialPerformance.aspx
http://www.iocl.com/Aboutus/Management.aspx
http://www.iocl.com/InvestorCenter/ShareholdingPattern.aspx
2
Reliance Industries
Limited
Fuel, Power
& Steel
http://www.ril.com/html/investor/quaterly_results.html
http://www.ril.com/html/investor/shareownership.html
http://www.ril.com/html/aboutus/board_director.html
3
Tata Steel Ltd
Fuel, Power
& Steel
http://www.tatasteel.com/investors/performance/annual-report.asp
http://www.tatasteel.com/investors/shareholding-information/shareholding
http://www.tatasteel.com/corporate/management/board-of-directors.asp
4
Bharat Petroleum
Fuel, Power
& Steel
http://www.bharatpetroleum.com/General/BoardofDirectors.aspx?id=4
http://www.bharatpetroleum.com/EnergisingBusiness/In_Financial.aspx?id=1
5
Hindustan
Petroleum
Fuel, Power
& Steel
http://www.hindustanpetroleum.com/En/UI/Financials.aspx
http://www.hindustanpetroleum.com/En/UI/BoardOfDirectors.aspx
http://www.hindustanpetroleum.com/En/UI/IRShareholderProfile.aspx
6
State Bank of India
Banking
7
ONGC
Fuel, Power
& Steel
8
Tata Motors Ltd
Automobiles
9
Hindalco
Fuel, Power
& Steel
10
ICICI Bank Ltd
11
NTPC
Fuel, Power
& Steel
12
SAIL
Fuel, Power
& Steel
Banking
http://www.statebankofindia.com/user.htm
http://www.ongcindia.com/financial_new.asp
http://www.ongcindia.com/board.asp
http://www.ongcindia.com/share_holding_new.asp
http://ir.tatamotors.com/
http://tatamotors.com/our_world/management.php
http://ir.tatamotors.com/index.php?CardID=11
http://www.hindalco.com/investors/downloads/reports_presentations.htm#an
http://www.hindalco.com/about_us/management_team.htm
http://www.hindalco.com/investors/shareholding_pattern/shareholding_pattern.h
tm
http://www.icicibank.com/aboutus/bod-1.html
http://www.icicibank.com/aboutus/shareprice.html
http://www.ntpcindia.com/index.php?option=com_content&view=article&id=4
6&Itemid=60&lang=en
http://www.sail.co.in/investor.php?tag=investor_financials_annual
http://www.sail.co.in/aboutus.php?tag=company-board
i
13
L&T
Cement &
Construction
14
Mangalore
Refinery &
Petrochemicals Ltd
Fuel, Power
& Steel
15
Essar Oil Ltd
Fuel, Power
& Steel
16
Bharti Airtel Ltd
Infotech &
Telecom
17
Chennai Petroleum
Corporation
Limited
Fuel, Power
& Steel
18
Bharat Heavy
Electricals Ltd
Fuel, Power
& Steel
19
TCS
Infotech &
Telecom
20
Mahindra and
Mahindra Limited
Automobiles
21
Suzlon Energy Ltd
Fuel, Power
& Steel
22
WIPRO Ltd
Infotech &
Telecom
23
GAIL India
Fuel, Power
& Steel
24
Sterlite Industries
Fuel, Power
& Steel
25
Reliance
Communications
Infotech &
Telecom
26
Punjab National
Bank
Banking
27
Infosys
Technologies
Infotech &
Telecom
http://www.larsentoubro.com/lntcorporate/LnT_DWS/Downloads.aspx?res=P_
CORP_CINV_AFNC_AANL_ALNT
http://www.mrpl.co.in
http://www.essar.com/common.aspx?cont_id=PGrnxmgkrlM=
http://www.airtel.in/wps/wcm/connect/about+bharti+airtel/Bharti+Airtel/Investo
r+Relations/Results/Annual+Results/
http://www.cpcl.co.in
http://www.bhel.com/financial_information/index.php
http://www.bhel.com/investor_relations/investor.php
http://www.tcs.com/about/corp_facts/board_directors/Pages/default.aspx
http://www.tcs.com/investors/Pages/results.aspx?y=All&q=All&t=Shareholding
%20Pattern%20&%20Capital%20Structure
http://www.mahindra.com
http://www.suzlon.com/about_suzlon/l3.aspx?l1=1&l2=2&l3=14
http://www.suzlon.com/investors/pledge_reporting.aspx?l1=6&l2=25&l3=44
http://www.wipro.in/Media/Financial_Reports/92f7cc53-5ee3-40f4-ad3d9bc39d38b4b8.htm
http://www.wipro.in/Company/Leadership/management.htm
http://www.gailonline.com/gailnewsite/investorzone/annual-report-archive.html
http://www.gailonline.com/gailnewsite/aboutus/Gailmanagement1.html
http://www.sterliteindustries.com/investor_relations/Financial_Results_Reports2.aspx
http://www.sterlite-industries.com/about_us/Management.aspx
http://www.rcom.co.in/Rcom/aboutus/ir/ir_financials.html
http://www.pnbindia.in/invst_info.htm
http://pnbindia.in/dirandtop.htm
http://www.infosys.com/investors/reports-filings/annual-report/Pages/index.aspx
http://www.infosys.com/about/management-profiles/Pages/index.aspx
ii
http://www.marutisuzuki.com/annual-reports-archives.aspx
http://www.marutisuzuki.com/board-of-directors.aspx
28
Maruti Suzuki
29
HDFC Bank
Banking
http://www.hdfcbank.com/aboutus/cg/annual_reports.htm
30
Bank of India
Banking
http://www.bankofindia.com/pressrelease.aspx
http://bankofindia.com/directors.aspx
31
Canara Bank
Banking
http://www.canarabank.com/English/scripts/AnnualReport.aspx
32
Grasim Industries
33
Bank of Baroda
34
Tata Power
Company Ltd
35
Automobiles
Cement &
Construction
Banking
http://www.grasim.com/investors/downloads/index.htm#annual_reports
http://www.grasim.com/about_us/management.htm
http://www.grasim.com/investors/shareholding_pattern/shareholdingpattern.htm
http://www.bankofbaroda.com/fin/fin_qtymarch10.asp
http://www.bankofbaroda.com/board.asp
Fuel, Power
& Steel
http://www.tatapower.com/
http://www.tatapower.com/aboutus/board-of-directors.aspx
ITC Ltd
FMCG
http://www.itcportal.com/itc-annual-reports-2009/cover.htm
http://www.itcportal.com/sets/leadership_frameset.htm
36
Hindustan Unilever
FMCG
37
JSW Steel Limited
Fuel, Power
& Steel
38
Aditya Birla Nuvo
Ltd
Miscellaneous
39
Axis Bank Ltd
Banking
40
Reliance
Infrastructure
Cement &
Construction
41
Jet Airways
42
Union Bank of
India
Miscellaneous
Banking
http://www.hul.co.in/investorrelations/AnnualReports/
http://www.hul.co.in/investorrelations/CorporateGovernance/theboard/BoD.asp
x
http://www.hul.co.in/aboutus/companystructure/ManagementCommittee/default
.aspx
http://www.jsw.in/investor_zone/financials_annual.shtml
http://www.jsw.in/organization/key_persons.shtml
http://www.adityabirlanuvo.net
http://www.axisbank.com/shareholderscorner/financials/annualreports.asp
http://www.axisbank.com/aboutus/boardofdirectors/Board-Of-Directors.asp
http://www.rinfra.com
http://www.jetairways.com/EN/IN/InvestorRelations
http://www.unionbankofindia.co.in/performance1.aspx
http://www.unionbankofindia.co.in/au_directors.aspx
iii
http://www.idbi.com/idbi/annualreport1.asp
http://www.idbi.com/idbi/mgmnt2.asp
43
IDBI Ltd
44
Ruchi Soya
Industries
Fertilisers &
Chemicals
45
Hero Honda
Motors
Automobiles
46
Tata Chemicals
Fertilisers &
Chemicals
47
Videocon
Industries
48
Punj Lloyd Ltd
49
HDFC Ltd
Banking
50
Central Bank of
India
Banking
51
Indian Overseas
Bank
Banking
52
Jindal Steel &
Power
Fuel, Power
& Steel
http://www.jindalsteelpower.com/investors/annual-reports.aspx
http://www.jindalsteelpower.com/investors/financial-records.aspx#3
53
HCL Technologies
Infotech &
Telecom
http://www.hcltech.com/investors/annual-reports/
http://www.hcltech.com/about-us/hcl-technologies/leadership-team/
54
Syndicate Bank
Banking
http://www.syndicatebank.in/Scripts/shareholdersInformation.aspx
http://www.syndicatebank.in/scripts/boardofdirectors.aspx
55
DLF Ltd
56
Tata
Communications
Infotech &
Telecom
http://www.tatacommunications.com/about/leadership.asp
http://www.tatacommunications.com/investors/performance.asp
57
Idea Cellular
Infotech &
Telecom
http://www.ideacellular.com/IDEA.portal?_nfpb=true&_pageLabel=IDEA_Pag
e_AboutIdea&displayParam=keyPeople
Banking
Miscellaneous
Cement &
Construction
Cement &
Construction
http://www.ruchisoya.com
http://www.herohonda.com/invest_annual_reports.htm
http://www.herohonda.com/co_board_directors.htm
http://www.tatachemicals.com/investors/financials_reports/annual_reports.htm
http://www.videocon-industries.com/pages/financial-info/annualreports/index.php
http://www.videocon-industries.com/pages/bod/index.php
http://www.punjlloydgroup.com/investors/subpage.php?opt=&id=2
http://www.hdfcindia.com/investors/cor_financials_annual_reports_request.asp#
http://www.hdfcindia.com/others/organisation_management.asp
https://www.centralbankofindia.co.in/site/MainSite.aspx?status=1&menu_id=6
http://www.iob.in/Annual_Reports.aspx
http://www.iob.in/aboutus.aspx
http://www.dlf.in/dlf/wcm/connect/dlf_common/DLF_SITE/HOME/TOP+LIN
K/Investors/Financial+Results/
iv
58
Oriental Bank of
Commerce
59
Coromandel
International
Fertilisers &
Chemicals
60
Siemens India
Miscellaneous
61
UCO Bank
62
Bajaj Auto Ltd
63
Crompton Greaves
64
Allahabad Bank
65
Petronet LNG
Fuel, Power
& Steel
http://www.petronetlng.com
66
Rashtriya
Chemicals &
Fertilisers Ltd.
Fertilisers &
Chemicals
http://www.indiainfoline.com
67
NMDC Ltd
Fuel, Power
& Steel
http://www.nmdc.co.in/financial.asp
http://www.nmdc.co.in/boar.asp
68
ACC Ltd
Cement &
Construction
http://www.acclimited.com/newsite/finance.asp
http://www.acclimited.com/newsite/boarddirectors.asp
69
Indian Bank
70
Pantaloon Retail
Ltd
71
Ranbaxy
Laboratories
72
Kotak Mahindra
Bank
Banking
Banking
Automobiles
Miscellaneous
Banking
Banking
Miscellaneous
https://www.obcindia.co.in/obcnew/site/index.aspx
http://www.indiainfoline.com
http://www.siemens.co.in/en/index/investor/annual_report.htm
http://www.ucobank.com/financial_results-08.htm
http://www.ucobank.com/profile_board.htm
http://www.ucobank.com/shareholder_pattern.htm
http://www.bajajauto.com/bajaj_investor_annual_report.asp
http://www.bajajauto.com/bajaj_corporate_bajaj_team.asp
http://www.cglonline.com/
http://www.cglonline.com/corporate_structure.htm
http://www.cglonline.com/investor/share_holding.htm
http://www.allahabadbank.com/
http://www.allahabadbank.com/directors.asp
http://www.allahabadbank.com/shareholding.asp
http://www.indianbank.in/annual_report.php
http://www.pantaloonretail.in/director_report.pdf
Pharmaceuticals http://www.ranbaxy.com
Banking
http://ir.kotak.com/financials/
http://ir.kotak.com/governance/board-of-directors.html
http://ir.kotak.com/information/shareholding-pattern.html
v
73
Corporation Bank
Banking
http://www.corpbank.com
74
Power Grid
Corporation
Fuel, Power
& Steel
75
Dr Reddys
Pharmaceuticals
76
ABB Ltd.
Cement &
Construction
http://www.abb.co.in/cawp/
77
Ultratech Cement
ltd
Cement &
Construction
http://www.ultratechcement.com/about_us/management_team.htm
http://www.ultratechcement.com/investors/shareholding_pattern/shareholding_p
attern.htm
http://www.powergridindia.com
http://www.drreddys.com/investors/financials.html
http://www.drreddys.com/aboutus/board_of_directors.html
vi
List of Medium Companies in the Sample
S. No.
Name of the
Company
Sector
URL
1
Titan Industries
Ltd
Miscellaneous
http://www.titan.co.in/investors/investor- information/shareholding-pattern
2
TVS Motor
Company Ltd
Automobiles
http://www.tvsmotor.in/annual-reports.asp
http://www.tvsmotor.in/directors.asp
3
PSL Ltd
Fuel, Power &
Steel
http://www.psllimited.com/investors.aspx
http://www.psllimited.com/boardofdirectors.aspx
http://www.psllimited.com/shareholdingpattern.aspx
4
Wockhardt Ltd
Pharmaceuticals
http://www.wockhardtin.com/aq_results.aspx
5
Britannia
Industries Ltd
FMCG
http://www.britannia.co.in/investerzone_bonus_financial_ar.htm
http://www.britannia.co.in/companyoverview_dlist.htm
6
Thermax Ltd
Miscellaneous
http://www.thermaxindia.com/Investor-Relations/Annual-Results.aspx
http://www.thermaxindia.com/Investor-Relations/Board-of-Directors.aspx
7
Kalpataru Power
Transmission Ltd
Fuel, Power &
Steel
http://www.kalpatarupower.com/financial-results.html
http://www.kalpatarupower.com/board-directors.html
8
K S Oils Ltd
Fuel, Power &
Steel
http://www.ksoils.com/financial_annual_reports.htm
http://www.ksoils.com/board_directors.htm
9
Tube Investments
of India Ltd
Miscellaneous
10
Jain Irrigation
Systems Ltd
Cement &
Construction
http://www.tiindia.com/Fin_Annual.html
http://www.tiindia.com/Abt_Board.html
http://www.tiindia.com/Fin_Shareholding.html
http://www.jains.com/Company/financial.htm
http://www.jains.com/Company/pod.htm
11
Dabur India Ltd
FMCG
http://www.dabur.com/Investors%20Relation-Reports
http://www.dabur.com/About%20Dabur-Board%20Of%20Directors
12
Kirloskar Brothers
Miscellaneous
Ltd
13
Patel Engineering
Ltd
Cement &
Construction
14
REI Agro Ltd
FMCG
http://www.reiagro.com/REIUdates.php
http://www.reiagro.com/Directors.php
15
Era Infra
Engineering Ltd
Cement &
Construction
http://www.indiainfoline.com
Nagarjuna
Fertlisers and
Chemicals
Sterlite
Technologies Ltd
Fertilisers &
Chemicals
http://www.nagarjunafertilizers.com/inv_annual.htm
http://www.nagarjunafertilizers.com/aboutus_board.htm
Infotech &
Telecom
http://www.sterlitetechnologies.com/sterlite.aspx
16
17
http://web.kbl.co.in/kbl_internet/download/annualreports/annualreportsdetails
.asp
http://web.kbl.co.in/kbl_internet/financial/corporategovernance.asp
http://patelengineering.in/main.html#/2,3
18
Mahindra Forgings Cement &
Ltd
Construction
http://www.mahindraforgings.com/fin_results.htm
19
Kirloskar Oil
Engines Ltd
http://kirloskarapps.kirloskar.com/kirloskar/aboutkirloskar/koel.html
http://kirloskarapps.kirloskar.com/kirloskar/aboutkirloskar/koel_boardofdir.ht
ml
Fuel, Power &
Steel
vii
20
Uflex Ltd
Miscellaneous
http://www.uflexltd.com/invest_Financ.asp
21
SRF Ltd
Miscellaneous
http://www.srf.com/investor_fin_results.htm?mid=menu3
22
Pidilite Industries
Ltd
Fertilisers &
Chemicals
http://www.pidilite.net/fi-annual.aspx
http://www.pidilite.net/about-directors.aspx
23
BGR Energy
Systems Ltd
Miscellaneous
24
GTL Ltd
Infotech &
telecom
http://www.bgrcorp.com/financials.php
http://www.bgrcorp.com/board_of_directors.php
http://www.bgrcorp.com/share_ownership.php
http://www.gtllimited.com/inv_result_an.aspx
http://www.gtllimited.com/cor_management.aspx
25
Consolidated
Construction
Consortium
Cement &
Construction
http://www.ccclindia.com/htmls/Quaterly_Reports.html
http://www.ccclindia.com/htmls/aboutus_leadership.html
26
Welspun India
Miscellaneous
http://www.welspun.com/content.asp?Submenu=Y&MenuID=2&SubmenuID
=4
27
Finolex Industries
Fertilisers &
Chemicals
http://www.finolex.com/index.aspx?idp=155&idc=205
28
United Breweries
Ltd
Miscellaneous
http://www.theubgroup.com/finance_annual_report_main.aspx
http://www.theubgroup.com/profile_management.aspx
29
Zuari Industries
Fertilisers &
Chemicals
http://zuari.in/investors/financial.aspx
30
Tulip Telecom
Infotech &
Telecom
http://www.tulip.net/AboutUs/ManagementTeam.htm
http://www.tulip.net/Investors/Investor_Information_Shareholding.aspx
31
Triveni
Miscellaneous
Engineering & Ind
http://www.trivenigroup.com/investors/index.html
http://www.trivenigroup.com/investors/shareholding-pattern.html
32
Torrent
Pharmaceuticals
Phramaceuticals
http://www.torrentpharma.com/financial%20results.php
http://www.torrentpharma.com/bod.php
33
SKF Ltd
Automobiles
http://www.skf.com/portal/skf_ca/home/skfgroup?contentId=149660&lang=e
n
34
Bank of Rajasthan
Ltd
Banking
http://www.bankofrajasthan.com
35
EID Parry
Miscellaneous
http://www.eidparry.com/index.asp
http://www.eidparry.com/boarddir.asp
36
Havells India
Miscellaneous
http://www.havells.com/AnnualReport.aspx
http://www.havells.com/ShareHoldingPattern.aspx
37
Nestle India
FMCG
http://www.nestle.in/inside_StockFin.aspx?IR=3&id=3
viii
Annexure 2
Information Attributes used for accessing Disclosures in Annual Reports of Indian Listed
Companies (as adapted from S&P's Transparency and Disclosure Survey)
Block 1: Ownership Structure and Shareholder Rights
Component 1. Ownership structure
Disclosure of:
1. The identity of the largest shareholder.
2. The identity of holders of all large stakes (blocking: > 25%; controlling: > 50%).
3. The identity of shareholders holding at least 25% of voting shares in total.
4. The identity of shareholders holding at least 50% of voting shares in total.
5. The identity of shareholders holding at least 75% of voting shares in total.
6. The number and identity of each shareholder holding more than 10%.
7. The indication that management is not aware of the existence of any stake exceeding 5% in except for
those that are reported.
8. Shareholding in the company by individual senior managers.
9. Shareholding in the company by individual directors.
10. The description of share classes.
11. A review of shareholders by type.
12. The percentage of cross-ownership.
13. Information about indirect ownership (e.g., convertible instruments).
Component 2. Shareholder rights
Disclosure of:
14. Corporate governance charter or corporate governance guidelines.
15. Evidence of existence of a code of business conduct and ethics.
16. The contents of the code of business conduct and ethics.
17. Procedure for initiating inquiries with the board.
18. Procedure for putting forward proposals at shareholders meetings.
19. Formalized dividend policy.
20. Announcement of recommended dividends before the record date.
21. Review of the last shareholders meeting.
22. Full general shareholder meeting (GSM) minutes.
23 Calendar of important shareholder future dates.
24. GSM materials published on the Web site.
25. Detailed press releases covering last corporate events.
26. Policy on information disclosure.
ix
Block 2: Financial and Operational Information
Component 3. Financial information
Disclosure of:
27. Annual financial statements according to an internationally recognized accounting standard (IFRS/U.S.
GAAP).
28. Notes to annual financial statements according to IFRS/U.S. GAAP.
29. Independent auditor’s report on annual financial statements according to IFRS/U.S. GAAP.
30. Unqualified (clean) audit opinion on annual financial statements according to IFRS/U.S. GAAP.
31. Audited IFRS/U.S. GAAP financial statements published before the end of April.
32. Unaudited IFRS/U.S. GAAP financial statements published before the end of April.
33. Audited IFRS/U.S. GAAP financial statements published before annual general meeting.
34. Unaudited IFRS/U.S. GAAP financial statements published before the end of June.
35. Indication that RPTs are made on market or nonmarket terms.
36. Exact terms of RPTs.
37. Interim (quarterly or semiannual) financial statements according to an internationally recognized
accounting standard (IFRS/U.S. GAAP).
38. Notes to these financial statements.
39. Whether these financial statements are audited or at least reviewed.
40. Consolidated financial statements according to the local standards.
41. Methods of asset valuation.
42. The ownership structure of affiliates.
43. A basic earnings forecast of any kind.
44. A detailed earnings forecast.
45. Revenue structure (detailed breakdown).
46. Cost structure (high degree of detail).
47. Whether the audit firm is a top-tier auditor.
48. Auditor rotation policy.
49. Whether auditor renders nonaudit services.
Component 4. Operational information
Disclosure of:
50. Details of the type of business the company is in.
51. Details of the products or services the company produces or provides.
52. Output in physical terms.
53. A description of functional relationships between key operating units within the group.
x
54. Industry indicators that allow comparison with peers.
55. Other financial indicators.
56. Characteristics of fixed assets employed (including licenses).
57. Efficiency indicators.
58 A discussion of corporate strategy.
59. Any plans for investment in the coming years.
60. Detailed information about investment plans in the coming year.
61. An output forecast of any kind.
62. An overview of trends in its industry; regulatory environment with regard to industry.
63. The market share for any or all of the company’s businesses.
64. Social reporting (e.g., Global Reporting Initiative).
65. Oerview of compliance with ecology law.
66. Principles of corporate citizenship.
Block 3: Board and Management Structure and Process
Component 5. Board and management information
Disclosure of:
67. Details about the current employment and position of directors.
68. Other details: previous employment and positions, education, etc.
69. When each director joined the board.
70. Details about role of the board of directors at the company.
71. A list of matters reserved for the board.
72. A list of board committees.
73. Names of all members of each existing committee.
74. The bylaws on other internal audit functions besides the audit committee.
75. Information about the ratio of in absentia and in person board meetings.
76. The list of senior managers not on the board of directors.
77. The backgrounds of senior managers.
78. The non-financial details of the CEO’s contract.
79. The number of shares held in other affiliated companies by managers.
80. Policy on assessment of board of directors and on training provided to them.
xi
Component 6. Board and management remuneration
Disclosure of:
81. The decision-making process for directors’ pay.
82. The specifics of directors’ pay, including the salary levels.
83 The form of directors’ salaries, such as whether they are in cash or shares.
84. The specifics of performance-related pay for directors.
85. The decision-making process for determining managerial (not board) pay.
86. The specifics of managers’ (not board) pay, such as salary levels and bonuses.
87. The form of managers’ (not board) pay.
88. The specifics of performance-related pay for managers.
Source: S&P Transparency and Disclosure Survey 2008
xii