Integrated Annual Report 2023-24 (hereinafter referred to as “this Report”), corresponding to the Integrated Annual Report of the previous fiscal year, aligns CTIL’s material sustainability issues with respective chapters, presenting a visual representation of the value creation path within the Company’s long-term vision. By seamlessly integrating financial and non-financial performance indicators spanning several years, this Report provides a comprehensive view of CTIL’s achievements, strategies, risks, and opportunities. Our aim is to offer a clear and concise overview of CTIL’s initiatives, showcasing how we generate value across short, medium, and long-term horizons while meeting the diverse needs of our stakeholders. Through this inclusive approach, we seek to build trust and strengthen relationships with our valued stakeholders, including customers, investors, employees, regulators, and society at large.

The Integrated Annual Report for FY 2023-24 has been meticulously crafted in accordance with the International Integrated Reporting Framework set forth by the International Financial Reporting Standards Foundation (IFRS). To ensure a comprehensive portrayal of the Company’s performance, this Report is in accordance with the guidelines outlined by the Global Reporting Initiative (GRI) Standards 2021, also aligning the Company’s endeavours with the United Nations Sustainable Development Goals (UN SDGs). Furthermore, the financial and statutory data provided in this Report adheres strictly to the stipulations of the Companies Act, 2013, including its accompanying rules, as well as the Indian Accounting Standards. We have diligently followed the regulations laid out by the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Secretarial Standards. Moreover, this Report integrates the Business Responsibility and Sustainability Report (BRSR) for the Company for FY 2023-24, ensuring a comprehensive and transparent depiction of CTIL’s operations and impacts.

The information covered in this Report is for the period of 1st April, 2023 – 31^st March, 2024. The reporting scope and boundary is applicable for financial and non-financial disclosures made by the Company. This Report offers a comprehensive overview of the Company’s operations, covering its business segments like Real Estate (Birla Estates), Pulp and Paper (Century Pulp and Paper) and Textile (Birla Century).

The reporting scope for this year’s Report includes project sites situated in Mumbai-MMR (Maharashtra), Bengaluru (Karnataka), Gurugram (NCR, Haryana), as well as all manufacturing facilities located in Jhagadia (Gujarat) and Lalkua (Uttarakhand).

Textiles operations of the Company namely Birla Century plant, Jhagadia, Bharuch, Gujarat has been discontinued due to non-viability, except minor manufacturing activities and other tasks relating to supplying yarn to Birla Advanced Knits Pvt. Ltd. (a Joint venture of the Company and Grasim Industries Ltd.) is continuing.

The key material aspects discussed in this Report are important to our operations as well as our value chain partners, customers, communities, and other stakeholders. We remain steadfast in our commitment to annually report on our Environmental, Social, and Governance (ESG) initiatives and activities using the integrated reporting methodology, and where applicable, historical trends have been emphasised, and any exclusions have been transparently disclosed in the relevant sections.

CTIL issues its reports annually, with financial summaries provided on a quarterly basis. For any inquiries related to this Report, please contact Mr. Yogesh Natu at: ctil.esgcentury@adityabirla.com or call at: +91 22- 24957000.

We approach materiality from a strategic and value creation perspective. Issues, opportunities, and challenges that have material impact on our business and the ability to create sustainable value for stakeholders form the basis of the contents of the Integrated Report. By using the materiality criteria to determine what information is important to our stakeholders, we have arrived at these conclusions. To identify potential material matters and rank them according to their relevance and potential influence on our stakeholders, strategy, and ability to create value, we have gathered inputs from all our business segments and important stakeholders. This involved conducting extensive surveys, engaging in meaningful discussions with internal and external stakeholders, scoring of each topic, and creating a materiality matrix.

In FY 2023–24, we conducted an extensive materiality assessment that engaged both internal and external stakeholders. This process facilitated a thorough understanding of the interrelation between material issues, business risks, goals, and value creation.

As CTIL continues to progress in its commitment to transparent reporting and disclosures, it consistently reviews its data collation processes concerning various Key Performance Indicators (KPIs). This may involve restating certain information previously published. Any restated information from previous Integrated Reports is denoted by (R#), signifying the revision made to ensure accuracy and alignment with current reporting standards.

In FY 2023–24 reporting, no restatement has been made.

The Board of Directors (hereinafter referred to as the ‘Board’) affirms that CTIL’s Integrated Report for the FY 2023-24 effectively addresses significant issues, offers a clear and comprehensive understanding of our strategy, and showcases our ability to create long-term value.

The components of this Report, formulated under the guidance of our senior management after incorporating inputs from various essential functional teams, are duly recognised by our Board. It is important to note that certain statements within this Report are forward-looking statements pertaining to our business operations. These statements involve risks based on assumptions, which may deviate from actual results. They rely on projections and industry trends, representing our expectations under those assumptions. These assumptions encompass all statements other than historical facts, encompassing performance snapshots, business strategy, mitigation plans, and objectives for future operations.

CTIL does not undertake any obligation to publicly update forward-looking statements, whether due to new information, future events, or other factors.

The disclosures made, based on GRI indicators and the BRSR, in this reporting period we have undergone an external assurance by an independent external auditor, TUV India Private Limited, who conducted a thorough due diligence. The assurance was conducted in reference to GRI standards, BRSR and ISAE 3000 (Revised) requirements.

The ‘Independent Assurance Statement’ is included on the 158 pages in the Report.