India's Best Annual Report Awards 2023: Free Press Journal - CareEdge Honours 8 Companies For Excellence, Clarity & Transparency

India's Best Annual Report Awards 2023: Free Press Journal - CareEdge Honours 8 Companies For Excellence, Clarity & Transparency

The winners were recognised for delivering excellence, transparency and clarity in the annual reports that helps investors make the best decisions. This was the second edition of India's Best Annual Report Awards 2023. Former SEBI chairman, M Damodaran, was honoured with the Lifetime Achievement Award for championing corporate governance.

Abhishek YadavUpdated: Friday, May 03, 2024, 12:09 PM IST
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Former SEBI chairman, M Damodaran honoured with the Lifetime Achievement Award. (L-R) Abhishek Karnani, President - Free Press Journal, Sanjeeb Chaudhari, Chairman - IDFC First Bank, Dilip Piramal, Chairman - VIP Industries, M Damodaran, Former SEBI Chairman, Ashok Karnani, Director- Free Press Journal | FPJ

Mumbai: The Free Press Journal along with its knowledge partner CareEdge presented India's Best Annual Report Awards 2023 on April 26 in a function held to recognise and reward the best annual reports by companies across 8 sectors. The winners were recognised for delivering excellence, transparency and clarity in the annual reports that helps investors make the best decisions. This was the second edition of India's Best Annual Report Awards 2023.

The award ceremony also celebrated and honoured former SEBI chairman, M Damodaran with the Lifetime Achievement Award. The award was bestowed on him for his relentless efforts in the field of corporate governance and for advocating transparency and clarity in annual reports by companies.

"This category of awards, the best annual reports, needs to be publicised much more. Corporate India must get the message that there are people who read the reports and that there is a requirement to improve. Companies must put themselves in the shoes of the persons who are reading the report. The next challenge for those writing the reports should be, 'How do you get people to write the report that people want to read?' FPJ is doing a phenomenal job and it is a privilege to be associated with them for this noble exercise.", says M Damodaran, Former SEBI Chairperson and Jury Chair

Former SEBI chairman, M Damodaran, honoured with the Lifetime Achievement Award for championing corporate governance, addressing the audience

Former SEBI chairman, M Damodaran, honoured with the Lifetime Achievement Award for championing corporate governance, addressing the audience | FPJ

The award ceremony held to celebrate and award companies with the best annual reports began on a musical note with Rajeev Raja, Founder & Soundsmith, BrandMusiq, exploring and exhibiting the unique relationship shared between brands and music. He also spoke and illustrated about the concept of "MOGO" or musical logos. The performance as well as the informative session was well received by the audience.

Rajeev Raja, Founder & Soundsmith, BrandMusiq, exploring and exhibiting the unique relationship shared between brands and music

Rajeev Raja, Founder & Soundsmith, BrandMusiq, exploring and exhibiting the unique relationship shared between brands and music | FPJ

The audience and company representatives were welcomed by Abhishek Karnani, President, Press Journal. Abhishek Karnani highlighted The Free Press Journal's (FPJ) mission to keep the city of Mumbai and society informed. He also spoke on the various initiatives undertaken by the FPJ and the pioneering work by the organisation in the field of education.

Abhishek Karnani, President, Press Journal welcoming the audience and addressing the representatives

Abhishek Karnani, President, Press Journal welcoming the audience and addressing the representatives | FPJ

The names of the companies along with their respective sectors awarded for India's Best Annual Report Awards 2023 are as follows

1. Banking - The State Bank Of India 

(L-R)Sam Balsara, Founder, Madison, Saloni Narayan, DMD FInance, SBI, M Damodaran, Former SEBI chairman and Jury Chairman, Paul Murphy, Consul General, Australia

(L-R)Sam Balsara, Founder, Madison, Saloni Narayan, DMD FInance, SBI, M Damodaran, Former SEBI chairman and Jury Chairman, Paul Murphy, Consul General, Australia |

2. Chemicals - Tata Chemicals Ltd.

(L-R)Sam Balsara, Founder, Madison, Padmini Khare, Independent Director, Tata Chemicals, M Damodaran, Former SEBI chairman and Jury Chairman, Paul Murphy, Consul General, Australia

(L-R)Sam Balsara, Founder, Madison, Padmini Khare, Independent Director, Tata Chemicals, M Damodaran, Former SEBI chairman and Jury Chairman, Paul Murphy, Consul General, Australia |

3. Electronic Equipment - Havells India LTD

(L-R) Abhinandan Lodha, Founder, House of Abhinandan Lodha, Pankaj Jain, Sr. VP Finance, 
Havells India and Nitin Singh, Head Internal audit and ESG accepting award from M Damodaran, Former SEBI Chairman,  Devang Gheewala, CFO, 
Kotak  Bank Ltd

(L-R) Abhinandan Lodha, Founder, House of Abhinandan Lodha, Pankaj Jain, Sr. VP Finance, Havells India and Nitin Singh, Head Internal audit and ESG accepting award from M Damodaran, Former SEBI Chairman, Devang Gheewala, CFO, Kotak Bank Ltd |

4. Fertilisers - Paradeep Phosphates Limited

(L-R) Abhinandan Lodha, Founder, House of Abhinandan Lodha, Bijoy Kumar Biswal, CFO, Paradeep, Sudhi Mishra, Head Crop Comm, Paradeep and Sushnato Lahiri, DGM-Corporate Strategy & Industrial Relations accepting award from M Damodaran, Former SEBI Chairman,  Devang Gheewala, CFO, 
Kotak  Bank Ltd

(L-R) Abhinandan Lodha, Founder, House of Abhinandan Lodha, Bijoy Kumar Biswal, CFO, Paradeep, Sudhi Mishra, Head Crop Comm, Paradeep and Sushnato Lahiri, DGM-Corporate Strategy & Industrial Relations accepting award from M Damodaran, Former SEBI Chairman, Devang Gheewala, CFO, Kotak Bank Ltd |

5. Paints - Asian Paints 

(L-R) Srinivasan Vaidyanathan, CFO, HDFC Bank, Hiral Raja, Associate Vice President, Accounts, Shared Services & Taxation accepting awards from M. Damodaran, Former SEBI Chairman, Suhas Joshi, Head- Sustainability, Bayer

(L-R) Srinivasan Vaidyanathan, CFO, HDFC Bank, Hiral Raja, Associate Vice President, Accounts, Shared Services & Taxation accepting awards from M. Damodaran, Former SEBI Chairman, Suhas Joshi, Head- Sustainability, Bayer |

6. Steel and Iron Product - JSW Steel 

(L-R) Marzin Shroff, Ex-MD, Eureka Forbes, Jayant Acharya, Joint MD & CEO, JSW, M Damodaran, Former SEBI Chairman, Pradeep Dalvi, Deputy CFO-Associate Vice President, Shailesh Haribhakti, Chairman, Shailesh Haribhakti and associates

(L-R) Marzin Shroff, Ex-MD, Eureka Forbes, Jayant Acharya, Joint MD & CEO, JSW, M Damodaran, Former SEBI Chairman, Pradeep Dalvi, Deputy CFO-Associate Vice President, Shailesh Haribhakti, Chairman, Shailesh Haribhakti and associates |

7. Insurance - ICICI Prudential Ltd.

(L-R) Marzin Shroff, Ex-MD, Eureka Forbes, Bipin Rajadhyaksha, Sr. VP, ICICI Prudential Life Insurance, M Damodaran, Former SEBI Chairman, Shailesh Haribhakti, Chairman, Shailesh Haribhakti and associates

(L-R) Marzin Shroff, Ex-MD, Eureka Forbes, Bipin Rajadhyaksha, Sr. VP, ICICI Prudential Life Insurance, M Damodaran, Former SEBI Chairman, Shailesh Haribhakti, Chairman, Shailesh Haribhakti and associates |

8. Oil Exploration and Refinery - ONGC

(L-R) Srinivasan Vaidyanathan, CFO, HDFC Bank, KC Ramesh, CFO, ONGC, M. Damodaran, Former SEBI Chairman, Manish Patil, Director HR & FInance, ONGC

(L-R) Srinivasan Vaidyanathan, CFO, HDFC Bank, KC Ramesh, CFO, ONGC, M. Damodaran, Former SEBI Chairman, Manish Patil, Director HR & FInance, ONGC |

The winners thanked the jury for the painstaking research involved in going through the annual reports of companies, short-listing the best ones and then deciding on the winners.

The evening concluded with the lifetime achievement award winner and former SEBI chairperson, M Damodaran, speaking on the need to publicise the winning reports so that it is read widely by the industry. He thanked the Free Press Journal for the award and shared the mantra, "It is not what is said in the report but how it is said" that makes for a valuable annual report.

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