India Disclosure Index 2015 | Mandatory & Voluntary Disclosure

India Disclosure Index 2015

How India's Leading Listed Companies Fare on Mandatory & Voluntary Disclosure

Strategic Communications

April 21, 2015

FTI Consulting has launched its inaugural India Disclosure Index, a report that tracks mandatory and voluntary disclosure practices amongst India’s leading publicly-listed corporations.

Recognising that raising disclosure standards is an ongoing process that requires a shift in strategic thinking at board-levels, FTI Consulting reviewed publicly available information disclosed by leading publicly-listed companies in India to ascertain current practice and identify trends. The disclosure practices of these companies were evaluated against six Mandatory Disclosure parameters and five Voluntary Disclosure parameters, and scores for these parameters were then weighted to provide a Composite Disclosure score. The full methodology and ranking of the BSE 100 companies by their weighted disclosure scores (split by MD and VD scores) can be found in the report.

We hope, through this inaugural report, to provide meaningful insights to board members and senior management teams of India Inc. for benchmarking financial communications practices and disclosure policies. We think this is timely given increasing regulatory activism and institutional investor demand for higher levels of voluntary disclosure from emerging market companies.

India Disclosure Index Infographic


The Mandatory Disclosure weighted score of each company has been calculated on the basis of presence (1) or absence (0) of six mandatory information disclosure parameters, available publicly either on the company's or the BSE’s website. The six parameters are: Quarterly Financial Information, Annual Report, Shareholding, Board and Management Team, Investor Contact and Analyst Transcripts; covering financial and non-financial parameters.

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