Sustainability Report 2010

The assurance scope excludes:

• Aspects of the Report other than those mentioned above;

• Data and information outside the defined reporting period (1 April 2009 to 31 March 2010);

• The Company’s statements that describe expression of opinion, belief, aspiration, expectation, aim or future intention;

• Data and information on economic and financial performance of the Company, which are from the Company’s audited financial records.

On the basis of our scope of assurance and methodology, nothing has come to our attention that would cause us not to believe that the Report presents in a fairly balanced and complete manner the material aspects of the sustainability performance of the Company.

The Company has used GRI-G3 Guidelines and relevant protocols. The systems and procedures applied by the Company for collection, collation and interpretation of non-financial data on environment and social performance, for reporting purpose, are reliable.

The initiatives on carbon sequestration, waste recycling and creating rainwater harvesting potential demonstrate the Company’s commitment on these key sustainability issues. The Company’s carbon positive status is based on improvements in specific energy consumption, increasing share of energy from renewable resources and sequestration of CO₂ emissions through social and farm forestry initiatives. The water-positive status is based on reduction of specific water consumption and creation of the rainwater harvesting structures with an evaluated rainwater harvesting potential. Waste recycling positive status of the company is by recycling of wastes generated out of their operations and external wastes used as raw material. We observed significant initiatives on sustainability management across the business Units visited .

Our responsibility in performing our assurance activities is to the management of the Company only, and in accordance with the terms of reference agreed with the Company. We do not therefore accept or assume any responsibility for any other purpose or to any other person or organisation.

Ernst & Young Private Limited

(Sudipta Das)
Partner

17th September, 2010
Kolkata, India