STATUTORY REPORTS | Corporate Governance Report 189 COMPANY’S CORPORATE GOVERNANCE PHILOSOPHY Your Company’s Corporate Governance philosophy is built on a strong legacy of fairness, transparency, accountability and ethical conduct. Since its inception, your Company has remained persistently committed to values-driven leadership, reinforcing the belief that long-term success is achieved only when business is conducted with integrity, responsibility and accountability. Guided by the values that have shaped the organisation for decades, entrepreneurship, ethics, meritocracy, dignity and diversity & inclusion, your Company has institutionalised governance processes that are deeply embedded in its culture. These practices ensure that the interests of all stakeholders are protected in a balanced and equitable manner. Your Company believes that strong corporate governance is fundamental to enhancing and sustaining investor trust. Your Company continually strengthens its governance standards and internal frameworks to align with evolving regulatory expectations and global best practices. Through transparent disclosures, principled decision-making, merit-based opportunities and respect for every individual, your Company strives to deliver sustainable long-term value. Ethical and responsible leadership, both at the Board level and within Management, remains central to this philosophy, ensuring that your Company conducts its business with the highest levels of integrity. EXTERNAL RECOGNITION OF EXCELLENCE IN CORPORATE GOVERNANCE Building on its strong Corporate Governance Philosophy, your Company continues to be acknowledged by leading national and global institutions for its exemplary governance standards. Your Company has once again been honoured with the “Golden Peacock Global Award for Excellence in Corporate Governance 2025”, marking its third consecutive recognition by Golden Peacock Awards, instituted by the Institute of Directors (IOD), India. This prestigious accolade widely regarded as a global benchmark of corporate excellence, further strengthens the Company’s longstanding governance legacy. Your Company has been a consistent recipient of the Golden Peacock Global Awards for Excellence in Corporate Governance in 2019, 2021, 2023, 2024 and now 2025, with the awards for 2023, 2024 and 2025 reflecting a notable three‑year consecutive achievement. This sustained recognition reaffirms the Company’s distinguished position as a leader in corporate governance excellence. Further, your Company also continued to feature in the “Leadership” category of the Indian “Corporate Governance Scorecard 2025”, marking its fifth consecutive recognition which is developed by Institutional Investor Advisory Services India Limited (‘IiAS’) with support from International Finance Corporation (‘IFC’) and BSE Limited (‘BSE’). Anchored in the globally accepted G20/OECD Principles of Corporate Governance, the Scorecard evaluates companies through a structured methodology built around 6 pillars: 2 addressing market dynamics and regulatory frameworks and 4 equally weighted pillars focusing on company-level practices and behaviour viz. shareholder rights, disclosure and transparency, board responsibilities and sustainability and resilience. Companies achieving strong performance across these pillars are placed in the Leadership category, signifying governance standards that exceed market norms and exemplify best‑inclass practices. Your Company had similarly earned a Leadership ranking in the preceding year, further reinforcing its consistent commitment to strong governance practices. GLOBAL ESG AND SUSTAINABILITY RATINGS Your Company has consistently performed strongly in both domestic and global ESG ratings. In 2025, the Company continued to be a global leader in the auto sector, achieving top recognition in the Dow Jones Sustainability Index (DJSI) and Reuters rankings by Refinitiv (part of the London Stock Exchange Group). During the year, your Company’s MSCI ESG rating improved further from ‘A’ to ‘AA’. In addition, your Company received CDP (Carbon Disclosure Report) ratings of ‘A’ for Climate Change and ‘A-’ for Water Conservation. These and several other comparable domestic ratings demonstrate CORPORATE GOVERNANCE REPORT “Our vision is to lead with transparency and accountability, establishing the benchmark for exemplary governance in all aspects of our operations.”
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