Q1-Read the Contents' page.

Mark the items that relate to financial

statements as "FS(Financial Statement) and the rest as 'NFS (Non-
Financial Statement). What information does the company provide in items
that you have marked as 'NFS? Is this information useful? How? Who is
the intended audience? Will they be able to understand the information?
Give highlights of ANY THREE major 'NFS' items?
Ans 1 The annual report of a company is an important tool for stakeholders to
understand the financial health, performance, and prospects of the company. It
provides a comprehensive overview of the company's operations, financial
statements, governance structure, and future plans. The annual report helps
different stakeholders to make informed decisions, evaluate the company's
performance, and assess the risks and opportunities associated with investing or
doing business with the company.
Some of the key benefits of an annual report are:
1. Transparency: The annual report provides transparency into the
company's financial position, performance, and governance practices. It
helps stakeholders to understand how the company operates, how it
generates revenue, and how it manages risks and opportunities.
2. Accountability: The annual report holds the company accountable for its
financial performance and corporate responsibility. It helps stakeholders
to evaluate the company's compliance with legal, regulatory, and ethical
standards.
3. Investor confidence: The annual report is an important tool for attracting
and retaining investors. It provides information about the company's
financial performance and future prospects, which helps investors to
make informed decisions about whether to invest in the company or not.
4. Benchmarking: The annual report provides a basis for benchmarking the
company's performance against its peers and competitors. It helps
stakeholders to assess the company's relative strength and weaknesses
and identify areas for improvement.
Overall, the annual report is an essential tool for companies to communicate
their financial performance and corporate responsibility to stakeholders. It
provides a basis for trust, transparency, and accountability, which are essential
for long-term sustainability and success.
 Content Page of Annual report of Hindustan Petroleum

1Source: https://www.hindustanpetroleum.com/documents/pdf/Annual_Report_2021_22.pdf
Based on the items of content page of Hindustan Petroleum , the financial
statements include:
1. Balance Sheet
2. Statement of Profit & Loss
3. Statement of Changes in Equity
4. Cash Flow Statement
5. Notes to the Financial Statements
6. Auditor's Report
7. Balance Sheet
8. Statement of Profit & Loss
9. Statement of Changes in Equity
10.Cash Flow Statement
11.Notes to the Financial Statements
12.Financial Details of Subsidiaries
13.C&AG's Comments

The rest of the items are non-financial statements, including:

1. Chairman's Message
2. Team HPCL
3. Board of Directors
4. Senior Management Team
5. Key Performance Indicators
6. Offices, Auditors & Bankers
7. Notice of Annual General Meeting
8. Performance Profile
9. Directors' Report
10.Annexures to Directors' Report
11.Corporate Governance Report
12.Management Discussion & Analysis Report
13.Business Responsibility Report
14.Human Resource Accounting
15.Joint Venture Companies

Non-financial statements provide information on various aspects of the company's

operations and performance, such as corporate governance practices, human resource
management, joint venture activities, and business responsibility. This information is
useful to stakeholders such as employees, customers, suppliers, investors, and
regulatory bodies in evaluating the company's overall performance, governance
practices, and social responsibility.
The intended audience for non-financial statements varies depending on the specific
statement. For example, the Chairman's Message and Performance Profile are
intended for a wider audience, including shareholders, potential investors, and
customers. The Directors' Report, Corporate Governance Report, and Management
Discussion & Analysis Report are intended for shareholders and potential investors.
The Business Responsibility Report is intended for stakeholders interested in the
company's social and environmental performance.

Three major highlights of non-financial statements are:

1. Corporate Governance Report: This report provides information on the
company's governance structure, policies, and practices. It includes details on
the composition of the board of directors, the company's approach to risk
management, and its code of conduct. This information is useful for
shareholders and investors in evaluating the company's corporate governance
practices.
2. Management Discussion & Analysis Report: This report provides an in-depth
analysis of the company's financial and operational performance. It includes
information on the company's revenue and profitability, capital expenditure,
and major business initiatives. This information is useful for investors in
evaluating the company's financial and strategic performance.
3. Business Responsibility Report: This report provides information on the
company's social and environmental performance. It includes details on the
company's approach to sustainability, its initiatives to reduce carbon emissions
and conserve natural resources, and its engagement with stakeholders on social
and environmental issues. This information is useful for stakeholders interested
in the company's social and environmental impact.

Based on the items of content page of Bharat Petroleum

Financial Statement (FS) Non-Financial Statement (NFS)
 Performance Profile Chairman's Letter
Standalone Financial Statements Board of Directors
Balance Sheet and Statement of Profit & Bankers, Auditors, Share Transfer Agent
Loss and Registered Office
Cash Flow Statement Management Team
Consolidated Financial Statements Vision, Values, Culture and Mission
Directors' Report Performance Highlights
Auditors' Report Our Journey of Growth
Notice to Members
Management Discussion & Analysis
Report
Report on CSR
Report on Corporate Governance
Business Responsibility Report
Comments of C & AG

Information in Non-Financial Statements (NFS)

1) Chairman's Letter:
Company provides a signed letter from the chairman which consist of how was the
company’s performance in the year, what were the main focuses of the company, the
major stakeholders etc.
2) Board of Directors
Company also provides a list of its board directors and their positions in the company.

3) Bankers, Auditors, Share Transfer Agent and Registered Office

Company also provides a list its bankers, auditors, share transfer etc.
 4) Management Team
List of its member of management team

5) Vision, Values, Culture and Mission

Here, company’s future goals, vision, mission is
stated

6) Performance Highlights
Company provides all the charts, graphs and
images of their performance during the past and
the important highlights.

7) Performance Highlights
Company provides all the charts, graphs and images of their performance during the
past and the important highlights.
8) Performance Highlights
Company provides all the charts, graphs and images of their performance during the
past and the important highlights.

9) Notice to Members
How the annual general meeting will be held and when it will held, what things will
be discussed, all the information about the meeting is given.
 10)Management Discussion & Analysis Report
Here company provides the decisions the management has taken and what was the
result or outcome of the decisions.
IMPORTANCE OF THE INORMATION:
This information is useful as it is essential for building trust in society by responding
to the expectations and needs of society and for communicating with external
stakeholders, including investors, regarding medium- and long-term value creation. It
allows businesses to inform stakeholders on the 'non-financial' aspects of operations
and disclose human rights policies, risks, and outcomes.
This information is important for the intended audience such as shareholders, potential
investors, employees, and customers etc.
MAJOR NFS ITEMS:
1) Report on CSR
This report provide transparency on the organization's impact on society and the
environment. A CSR report shares any successes the company has had.
It also outlines objectives for future work.
For example, BPCL report on CSR contains:
 Composition of CSR Committee
 Details of the amount available for set off in pursuance of sub-rule
(3) of rule 7 of the Companies (Corporate Social responsibility
Policy) Rules, 2014 and amount required for set off for the financial
year
 CSR amount spent or unspent for the financial year

2) Management
Discussion &
Analysis Report
This part shows the decisions of the management and what were the result or output of
the decisions taken. It also includes the analysis of the company’s performance.
 3) Report on Corporate Governance
This report ensures that protection of stakeholders’ interest through transparency, full
disclosures, empowerment of employees, collective decision making and social
initiatives.
It consists of all the committees for stakeholder, BPCL report consist of:
 Board Committees
 Project Evaluation Committee
 Nomination and Remuneration Committee
 Stakeholders Relationship Committee and etc.

Q2-When was the annual general meeting to be held? What were the items to be discussed?

Bharat Petroleum Corporation Limited

The 69th Annual General Meeting of the members of Bharat Petroleum Corporation Limited (“the
Company”) will be held on Monday, August 29, 2022 at 10.30 a.m. IST through Video-Conferencing
(“VC”) / Other Audio Visual Means (“OAVM”) to transact the following Ordinary and Special
Business:-

A. Ordinary Business

1) To receive, consider and adopt (a) the Audited Financial Statements of the Company for the
Financial Year ended March 31, 2022 (b) the Audited Consolidated Financial Statements of the
Company for the Financial Year ended March 31, 2022; and the Reports of the Board of Directors,
the Statutory Auditors and the Comments of the Comptroller & Auditor General of India thereon.

2) To confirm the payment of First and Second Interim Dividend and to declare Final Dividend on
Equity Shares for the Financial Year ended March 31, 2022.

3) To appoint a Director in place of Shri Vetsa Ramakrishna Gupta, Director (DIN: 08188547), who
retires by rotation and being eligible, offers himself for reappointment.

4) To authorize the Board of Directors of the Company to fix the remuneration of the Joint Statutory
Auditors of the Company for the Financial Year 2022-23 in terms of the provisions of Section 139(5)
read with Section 142 of the Companies Act, 2013 and to consider and, if thought fit, to pass the
following Resolution, as an Ordinary Resolution:- “RESOLVED THAT the Board of Directors of the
Company be and is hereby authorized to decide and fix the remuneration of the Joint Statutory
Auditors of the Company as appointed by the Comptroller & Auditor General ofIndia for the
Financial Year 2022-23.”

B. Special Business

5) Approval of Remuneration of the Cost Auditors for the Financial Year 2022-23 To consider and if
thought fit, to pass the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to
the provisions of Section 148 and other applicable provisions of the Companies Act, 2013 and the
Companies (Audit and Auditors) Rules, 2014 as amended from time to time, the Cost Auditors viz.
M/s. R. Nanabhoy & Co., Cost Accountants, Mumbai and M/s. G.R. Kulkarni & Associates, Cost
Accountants, Mumbai, appointed by the Board of Directors of the Company to conduct the audit of
the cost records of the Company for the Financial Year ending March 31, 2023 be paid the
remuneration as set out below:

Hindustan Petroleum Corporation Limited

The 70th ANNUAL GENERAL MEETING of the Members of Hindustan Petroleum Corporation Limited
(“HPCL” or “Company”) will be held on Tuesday, August 30 , 2022 at 11.00 a.m. (IST) through Video
Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Financial Statements of the Company for the
Financial Year ended March 31, 2022 together with the Reports of the Board of Directors
and Auditors thereon. To declare a Final Equity Dividend of H14 per Share forthe Financial
Year 2021-2022.

2. Appointment of Shri Ramdarshan Singh Pal (DIN: 09400298) as a Director of the Company

3. Appointment of Dr. Nagaraja Bhalki (DIN: 09451587)as a Director of the Company

4. Appointment of Shri Pankaj Kumar (DIN: 09252235 as a Director of the Company

5. Director of the Company with effect from June 22, 2022, and who holds the said office
pursuant to the provisions of Section 161 of the Companies Act, 2013 upto the date of this
Annual General Meeting or the last date on which the Annual General Meeting for the
Financial Year 2021-2022 should have been held, whichever is earlier, and who is eligible for
appointment as a Director under the provisions of Section 160 of the Companies Act, 2013,
and in respect of whom the Company has received a notice in writing from a Member
proposing his candidature for the Office of Director, be and is hereby appointed as a Director
of the Company and is liable to retire by rotation.

6. Payment of Remuneration to Cost Auditors for Financial Year 2022-2023

7. Approval of Material Related Party Transactions with HPCL-Mittal Energy Limited (“HMEL”)
to be entered during the Financial Year 2023-2024

8. . Approval of Material Related Party Transactions to be entered with Hindustan Colas Private
Limited (“HINCOL”) during the Financial Year 2023-2024

9. To increase the Borrowing Powers of the Company and creation of charge / provision of
security