Corporate governance report

The prescribed section of an Indian annual report setting out board composition, committee membership, meeting and attendance records, director remuneration and related disclosures.

Its format is standardised, which makes it unusually comparable across companies and across years.

The rows worth reading are attendance, tenure of the independent directors, the number of other boards each sits on, and the ratio of executive pay to median employee pay. None of these is decisive alone and together they describe how seriously the board takes itself.

A director attending three of eight meetings is a disclosure, not an accident.