NEW DELHI, July 4, 2016 /PRNewswire/ -- Vedanta Limited, a globally diversified natural resources company, has been ranked as India's leading publicly listed company in the India Disclosure Index 2016 report by FTI Consulting. Vedanta achieved full scores on all parameters that were studied across the Mandatory Disclosure, Voluntary Disclosure and Composite Disclosure categories, making it the leader of India's top 200 companies.
Vedanta is the only company in the natural resources sector to achieve the highest possible score across all parameters. Vedanta stands among 8 leading BSE 100 companies that attained the maximum composite disclosure score of 10.
The results are testament to Vedanta's commitment to transparency and adherence to global best practice in corporate governance. Mr. Tom Albanese, CEO, Vedanta, commented: "Vedanta's leading position in the India Disclosure Index report reflects our commitment to the highest standards of disclosure and corporate governance. At Vedanta, we follow compliance standards that are on par with our global peers. We are committed to leading the way in corporate governance, and our policy is one of transparency and continuous improvement of our disclosure practices."
Since the 2015 India Disclosure Index report, Vedanta has significantly improved its ranking, scoring 10/10 in Composite Disclosure, compared to 7.5/10 last year.
Vedanta's commitment as a transparent and responsible corporate citizen, reflects on the company's emphasis on principles of community dialogue and mutual respect. The approach to disclosure processes goes beyond mandatory legal requirements and includes reporting across a wide range of areas, including sustainable development, safety, employee diversity and inclusion, talent development and senior management succession planning.
About the India Disclosure Index 2016:
The India Disclosure Index 2016 is the second in the India Disclosure Index series produced by FTI Consulting. The report reviewed mandatory and voluntary disclosures, on basis of presence or absence of information disclosure parameters available publicly, either on the company's website or Annual Report, of the top 200 companies by market capitalisation listed on the Bombay Stock Exchange (BSE 200 Index constituents). It concluded that Indian-listed corporations have significantly improved their disclosure policies and made the necessary steps to align with new regulations related to provisions in the Companies Act 2013.
The full methodology and ranking of the BSE100 and BSE200 companies by their weighted disclosure scores (split by Mandatory and Voluntary Disclosure scores) can be found here: http://www.fticonsulting-asia.com/insights/reports/india-disclosure-index-2016
About Vedanta Limited (Formerly Sesa Sterlite Limited.)
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India.
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information please log on to www.vedantalimited.com
For further information, please contact:
President – Group Communications & Sustainable Development
Director – Investor Relations
Manager – Investor Relations
Manager – Investor Relations
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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SOURCE Vedanta Limited