BRSR Reporting Services for Listed Companies in India

End to end Business Responsibility and Sustainability Reporting for listed entities under SEBI Regulation 34(2)(f). Operations mapped to the nine NGRBC principles and the three BRSR sections, the BRSR Core KPIs computed, assessment or assurance readiness built for the FY 2026-27 reach to the top 1000, and value chain and Green Credits disclosures structured, delivered as one accountable engagement from Mumbai across India, so a SEBI obligation becomes a disclosure a board can stand behind.

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Report · Verify · FileNine NGRBC principlesPan India delivery

Reviewed by Team GreenSutra · Updated 13 June 2026

On recordGoverning regulationSEBI LODR 34(2)(f)Who reportsTop 1000 listed by market capReporting frameworkNine NGRBC principlesBRSR Core glide pathTop 1000 from FY 2026-27Value chainTop 250, voluntaryBaseMumbai · Pan India

From ESG data systems to a filed, assessment-or-assurance ready BRSR

For listed entities among the top companies by market capitalisation, and the boards that adopt their reports.

Business Responsibility and Sustainability Reporting, the BRSR, is the ESG disclosure format SEBI mandates for the top 1000 listed entities by market capitalisation under Regulation 34(2)(f) of the Listing Obligations and Disclosure Requirements Regulations, 2015, filed within the annual report since FY 2022-23 after a voluntary year for FY 2021-22. BRSR reporting services by GreenSutra carry that obligation end to end, from the first data map to a board adopted filing.

What the BRSR contains

The report runs across Section A general disclosures, Section B management and process disclosures, and Section C, the principle-wise performance section, together carrying around 140 indicators, 98 essential and 42 leadership. It is framed by the nine principles of the National Guidelines on Responsible Business Conduct, and within it the BRSR Core carries Key Performance Indicators under nine ESG attributes, including intensity ratios on revenue adjusted for Purchasing Power Parity. GreenSutra builds the data systems behind these disclosures, so the filing rests on evidence rather than estimates.

Which companies need BRSR Core assessment or assurance

Since the SEBI circular dated 28 March 2025, a listed entity may undertake assessment or assurance of the BRSR Core, where assessment is a third-party assessment per Industry Standards Forum standards. The verification mandate phases in by market capitalisation:

Top 150 listed entities from FY 2023-24
Top 250 from FY 2024-25
Top 500 from FY 2025-26
Top 1000 from FY 2026-27, the year that began on 1 April 2026

Which disclosures stay voluntary

Value chain ESG disclosures apply to the top 250 entities on a voluntary basis from FY 2025-26, and the Green Credits leadership indicator under Principle 6 invites disclosure for FY 2024-25 onwards. Based in Mumbai and delivering across India, GreenSutra readies every tier through to a board adopted report prepared in PDF and XBRL and filed with the exchange on the same day as the annual report. For environmental, social and governance strategy, materiality and ratings beyond the filing, ESG advisory is delivered as a separate engagement.

The engagement

Scope

Applicability under SEBI LODR 34(2)(f) confirmed, with the BRSR Core assessment-or-assurance tier and financial year that apply to the entity.

Map

Operations and data systems mapped to the nine NGRBC principles and the Section A, B and C format of the BRSR.

Compute

BRSR Core KPIs under the nine ESG attributes computed, including the PPP adjusted intensity ratios, with the methodology documented.

Ready and file

Assessment or assurance of the Core readied with a conflict-free provider, and the report adopted by the board and filed with the exchange.

The nine NGRBC principles

Ethics

Conduct with integrity, transparency and accountability.

Sustainable goods

Goods and services provided in a safe and sustainable way.

Employee wellbeing

The wellbeing of all employees, including those in the value chain.

Stakeholders

Responsiveness to all stakeholders, especially the marginalised.

Human rights

Respect for and promotion of human rights.

Environment

Protection and restoration of the environment.

Policy advocacy

Public policy influence exercised responsibly and transparently.

Inclusive growth

Inclusive growth and equitable development.

Consumer value

Value to consumers in a responsible manner.

BRSR applicability and timelines at a glance

Who files, who gets assessed or assured, and when, under the framework as eased in March 2025.

The full BRSR has applied to the top 1000 listed entities by market capitalisation since FY 2022-23. The BRSR Core assessment or assurance requirement phases in by market capitalisation tier and reaches the full set in FY 2026-27, the year that began on 1 April 2026.

BRSR Core assessment or assurance glide path
Financial year	Listed entities covered
FY 2023-24	Top 150 by market capitalisation
FY 2024-25	Top 250
FY 2025-26	Top 500
FY 2026-27	Top 1000, several hundred first-time entities

BRSR compared with BRSR Core
Aspect	BRSR	BRSR Core
What it is	The full disclosure across Sections A, B and C against the nine NGRBC principles.	A subset of KPIs under 9 ESG attributes with intensity ratios adjusted for purchasing power parity.
Who files	Top 1000 listed entities, mandatory since FY 2022-23.	Same filers; the Core carries the verification duty.
Verification	No general verification mandate.	Independent assessment or assurance on the glide path, top 1000 from FY 2026-27.
Indicators	Essential indicators mandatory, Leadership indicators voluntary.	Defined KPI set per the July 2023 circular and Industry Standards Forum standards.

Value chain ESG disclosures, current position
Obligation	Who	Status
Value chain ESG disclosures	Top 250 listed entities	Voluntary from FY 2025-26
Assessment or assurance of value chain disclosures	Top 250 listed entities	Voluntary from FY 2026-27
Partner definition	Upstream or downstream partners at 2 percent or more of purchases or sales by value	Coverage may stop at 75 percent of purchases and sales

How a BRSR engagement runs

From applicability and a principle gap analysis to a filed, assessment-or-assurance ready report.

Consultant mapping a listed company against the nine NGRBC principles on a wall chart beside a market capitalisation dial

Scope and principle gap analysis

Applicability under SEBI LODR 34(2)(f) confirmed and the BRSR Core tier and financial year fixed, then operations mapped to the nine NGRBC principles and the Section A, B and C format, with the data gaps named.

Analyst computing BRSR Core ESG indicators on a dashboard of energy, water and emissions intensity ratios at a desk

Build BRSR Core data systems

The BRSR Core KPIs under the nine ESG attributes collected and computed, including the PPP adjusted intensity ratios, with the base methodology and any industry estimates documented so the figures stand up to assessment or assurance.

Board adopting a sealed BRSR report beside a screen filing the disclosure with the stock exchange

Ready, assess and file

A conflict-free assessment or assurance provider engaged for the BRSR Core, voluntary value chain and Green Credits disclosures structured where chosen, and the board-adopted report filed with the stock exchange inside the annual report.

How the BRSR disclosure flows from a listed entity to the exchange

A listed entity frames the report on the nine NGRBC principles, compiles the BRSR Core indicators, and files the disclosure with the exchange.

01Listed entity

A listed entity among the top 1000 by market capitalisation carries the BRSR obligation under SEBI LODR Regulation 34(2)(f).

02Nine NGRBC principles

The report is framed by the nine principles of the National Guidelines on Responsible Business Conduct, across Section A general, Section B management and process, and Section C principle-wise performance.

03Essential and leadership

The BRSR Core essential and leadership indicators are compiled, with KPIs under the nine ESG attributes and PPP adjusted intensity ratios.

04Assessment or assurance

Assessment or assurance of the BRSR Core is obtained from a conflict-free provider, for the mandated cohort on the market-cap glide path.

05Annual report filed

The board adopts the BRSR and it is filed with the stock exchange inside the annual report, with voluntary value chain and Green Credits disclosures where chosen.

A listed entity among the top 1000 by market capitalisation frames its BRSR across the nine NGRBC principles and the three sections, compiles the BRSR Core indicators under nine ESG attributes, obtains assessment or assurance of the Core from a conflict-free provider for the mandated tier, and files the board-adopted report with the exchange inside the annual report. Value chain ESG disclosures for the top 250 entities and the Green Credits indicator under Principle 6 are voluntary.

The BRSR runs from a listed entity through the nine NGRBC principles to a filed report, and a readiness review turns that flow into a measured, assessment-or-assurance ready plan.

WhatsApp Request a BRSR readiness review →

Benefits of BRSR solutions

What a mapped, computed and assessment-or-assurance ready BRSR earns a listed entity.

B·01

Compliance assured

The BRSR and BRSR Core aligned to SEBI LODR 34(2)(f) and the nine NGRBC principles, so the disclosure is filed cleanly and the LODR enforcement exposure is avoided.

B·02

Assessment ready data

BRSR Core KPIs computed on a documented methodology, so the figures stand up to third-party assessment or assurance rather than inviting a qualification.

B·03

Investor confidence

Credible, principle-wise performance data strengthens standing with investors, lenders and the regulators who read the disclosure.

B·04

Value chain ready

Data systems that also answer the ESG questionnaires listed entities send their value chain partners, turning a disclosure into a supplier advantage.

Board reviewing a filed BRSR report beside a screen of assessed ESG performance indicators — Obligation turned into an assessment-ready disclosure

Why GreenSutra leads BRSR consulting

The reasons behind the reputation.

R·01

SEBI BRSR fluency

Engagements led by specialists fluent in the SEBI LODR, the nine NGRBC principles and the BRSR Core framework as amended in March 2025.

R·02

Data discipline

BRSR Core KPIs built from operations data on a documented methodology, including PPP adjusted intensity ratios, not estimated after the fact.

R·03

Assurance readiness

Disclosures readied for assessment or assurance with a conflict-free provider, so verification confirms rather than corrects.

R·04

End to end delivery

Scoping, principle mapping, Core computation, assessment readiness and filing handled as one accountable engagement, or any stage standalone.

R·05

Mumbai based, pan India

BRSR programmes delivered for listed entities and their value chain partners across India from a Mumbai base.

Built for every tier of the obligation

The same disclosure discipline, tuned to where a company stands under the BRSR regime.

Newly in-scope listed entities

Companies entering the top 1000 guided from applicability through the first principle map and a filed BRSR.

BRSR Core glide-path tiers

Top 150, 250, 500 and 1000 entities readied for assessment or assurance of the Core in the financial year that applies to them.

Value chain disclosers

Top 250 entities supported with voluntary value chain ESG disclosures, the 2 percent partner threshold and the 75 percent coverage cap.

Value chain partners

Suppliers and customers of listed entities helped to answer BRSR Core style ESG questionnaires with credible data.

The same disclosure discipline carries every tier, tuned to where a listed entity stands on the BRSR Core glide path and what its value chain is being asked for.

WhatsApp Request a BRSR readiness review →

BRSR questions, answered

Q·01What are BRSR reporting services?

BRSR reporting services carry a listed entity through Business Responsibility and Sustainability Reporting under SEBI Regulation 34(2)(f): confirming applicability, mapping operations to the nine NGRBC principles and the Section A, B and C format, computing the BRSR Core KPIs under nine ESG attributes, readying the Core for assessment or assurance, and structuring voluntary value chain and Green Credits disclosures. The defining idea is to build the data systems behind the report so a SEBI filing rests on evidence a board can stand behind.

Q·02Who must file BRSR in India and from when?

The top 1000 listed entities by market capitalisation must file BRSR. It has been mandatory since FY 2022-23 under SEBI LODR Regulation 34(2)(f), after a voluntary year for FY 2021-22 following the SEBI circular dated 10 May 2021. BRSR does not directly apply to unlisted or private companies, although their ESG data can be requested where they are value chain partners of a listed entity.

Q·03What are the nine principles in BRSR?

BRSR follows the nine principles of the National Guidelines on Responsible Business Conduct. They cover ethics, transparency and accountability, sustainable and safe goods and services, the wellbeing of employees, responsiveness to stakeholders, human rights, protection of the environment, responsible policy advocacy, inclusive and equitable growth, and value to consumers. Section C of the BRSR reports principle-wise performance against all nine, alongside Section A general disclosures and Section B management and process disclosures.

Q·04What is BRSR Core and who must get it assessed or assured?

BRSR Core is a sub-set of the BRSR with Key Performance Indicators under nine ESG attributes, including intensity ratios on revenue adjusted for Purchasing Power Parity. Mandatory third-party verification follows a market-capitalisation glide path: top 150 from FY 2023-24, top 250 from FY 2024-25, top 500 from FY 2025-26, and top 1000 from FY 2026-27, which began on 1 April 2026.

Q·05What is the difference between reasonable and limited assurance for BRSR Core?

Where the assurance route is taken, BRSR Core assurance means reasonable assurance, the higher of the two levels: the provider gathers sufficient evidence to express a positive conclusion, whereas limited assurance reaches only a negative conclusion that nothing came to attention. In practice the bar is being set high. An analysis by KPMG India of NIFTY 100 filings for FY 2024-25, published in February 2026, found that every reviewed company which obtained third-party verification of the BRSR Core opted for reasonable assurance and none used the assessment route. GreenSutra builds the evidence base to withstand reasonable assurance testing rather than the lighter bar.

Q·06Are ESG value chain disclosures mandatory under BRSR?

No. Following the circular dated 28 March 2025, ESG disclosures for the value chain apply to the top 250 listed entities on a voluntary basis from FY 2025-26, deferred by one year from the earlier comply-or-explain position. Assessment or assurance of the value chain disclosures is voluntary from FY 2026-27. For the first year of value chain reporting, the prior-year numbers are voluntary as well.

Q·07What is the value chain partner threshold for BRSR?

Under the revised definition in the circular dated 28 March 2025, the value chain encompasses the top upstream and downstream partners individually comprising 2 percent or more of the listed entity purchases and sales by value. The listed entity may instead limit disclosure to cover 75 percent of its purchases and sales by value, and where it provides value chain disclosures it states the percentage of total sales and purchases those partners represent.

Q·08What is the Green Credits disclosure in BRSR?

An eighth leadership indicator was added under Principle 6 of the BRSR by the circular dated 28 March 2025, seeking the Green Credits generated or procured by the listed entity and by its top ten value chain partners by value of purchases and sales. The indicator is voluntary and applies for BRSR disclosures for FY 2024-25 onwards, so it sits among the leadership rather than the essential indicators.

Q·09Who can carry out the BRSR Core assessment or assurance?

The Board of the listed entity must ensure the assessment or assurance provider has the necessary expertise and that there is no conflict of interest. The provider or its associates must not sell products to the entity or provide non-audit, non-assessment or non-assurance services such as consulting to the entity or its group entities. Assurance engagements reference ISAE 3000 (Revised) and, in India, ICAI's SSAE 3000, with ISSA 5000 effective for periods beginning on or after 15 December 2026. GreenSutra prepares the disclosures and the evidence base and coordinates with an independent provider, keeping the preparer and assurer roles separate.

Q·10In what format is BRSR filed with the stock exchanges?

BRSR is submitted to the stock exchanges in both PDF and XBRL, on the same day as the annual report is submitted, per the BSE BRSR FAQs of 10 May 2024. The PDF carries the full narrative disclosure and the XBRL file carries the structured data the exchanges parse. This is distinct from the separate BSE requirement, effective 1 December 2025, that disclosures under SEBI LODR Regulation 50 for listed non-convertible securities be made in XBRL mode only. GreenSutra prepares both outputs and validates the XBRL against the exchange utility before submission.

Q·11What happens if BRSR is not filed correctly?

BRSR is filed under the SEBI LODR Regulations, so non-disclosure or defective disclosure is treated as a LODR compliance breach. Consequences flow from general LODR enforcement by the stock exchanges and SEBI under the SEBI Act and the Securities Contracts Regulation Act, rather than from a BRSR-specific fine schedule. Accurate, assessment-ready disclosure is the way to keep clear of that exposure.

Q·12What is the difference between BRSR and ESG reporting?

BRSR is the specific disclosure instrument SEBI mandated through LODR Regulation 34(2)(f), applicable to the top 1000 listed entities by market capitalisation from FY 2022-23, framed by the nine NGRBC principles issued by the Ministry of Corporate Affairs in 2019. ESG is the broader discipline covering environmental, social and governance performance, with no single mandatory format: strategy, materiality, ratings readiness and voluntary disclosure all sit there. GreenSutra delivers BRSR as a dedicated SEBI engagement on this page and ESG advisory as a separate service, so the filing and the underlying performance work each get their own scope.

Primary sources

SEBI circular · 28 March 2025 · assessment or assurance and value chainOpen ↗SEBI circular · 12 July 2023 · BRSR Core frameworkOpen ↗SEBI circular · 10 May 2021 · BRSR by listed entitiesOpen ↗SEBI circular · 20 December 2024 · Industry Standards on BRSR CoreOpen ↗SEBI · BRSR Board memorandumOpen ↗BSE · BRSR FAQs, Notice 20240510-48 · PDF and XBRL filingOpen ↗KPMG India · Emerging trends in BRSR reporting, February 2026Open ↗

Asked at the Expert's Corner

Real BRSR and disclosure questions from the community, answered by the GreenSutra team.

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