Independent Assurance Statement from Ernst & Young

Limitations of Our Engagement

The assurance scope excludes:

Aspects of the Report other than those mentioned above;

Data and information outside the defined reporting period (1 April 2011 to 31 March 2012);

The Company’s statements that describe expression of opinion, belief, aspiration, expectation, aim or future intention and national or global socio-economic and environmental aspects;

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

Conclusion

On the basis of our procedures aimed at obtaining reasonable assurance, we conclude that in our opinion the Company has presented, in a fairly balanced, accurate, complete and transparent manner, the information on environmental and social parameters pertaining to the GRI indicators on material consumption, energy, water consumption and discharge, GHG emissions, wastes, safety performance and social programmes.

Observations

The Company continued to demonstrate its commitment to key sustainability issues through its actions on carbon sequestration, waste recycling, creating rainwater harvesting potential and creating sustainable livelihoods. 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 rainwater harvesting structures with an evaluated rainwater harvesting potential. Solid waste recycling positive status of the Company is by recycling of wastes generated out of their operations and external wastes used as raw material.

Ernst & Young Private Limited

Sudipta Das
Partner

19th September, 2012
Kolkata