Tag

#ir-framework

Annual Reports

Infosys Integrated Annual Report 2025-26: A Review

Infosys keeps its integrated report to 24 pages, labels its adjusted margin on the highlights page and prints a five-year table that includes a 22% fall in market capitalisation. The compression has costs: one page per capital, qualitative outcomes, a strategy diagram still built on the 2018 four-pronged plan, and 'carbon neutral for seven years' resting on offsets.

Annual Reports

TCS Integrated Annual Report 2025-26: A Review

TCS publishes the most complete integrated business model in the Nifty 50 and a targets-to-status natural capital page others should copy, but its headline profit growth excludes ₹3,366 crore of exceptional items that a reader only finds on page 197.

Annual Reports

Reliance Industries Integrated Annual Report 2025-26: A Review

Our review of Reliance's report against the <IR> Framework, BRSR expectations and plain readability. Reliance's 2025-26 report is disciplined and well-assured, but its materiality work is three years old and Scope 3 is missing from the integrated report.