BRSR Report for financial year 2024-25
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Veritas (India) has filed its BRSR for FY 2024-25 together with the notice of its 40th Annual General Meeting scheduled for September 26, 2025, via video conferencing. The company is a small chemical trading business (100% of turnover) with no manufacturing, 9 permanent employees, no workers, and operations limited to India (28 states and 8 union territories, zero exports). FY 2024-25 turnover was about INR 245 crore and net worth around INR 192 crore. The BRSR identifies four material ESG issues: labour practices, cyber security, and greenhouse gas emissions (all flagged as risks), plus supply chain management (an opportunity). Notable items include a rooftop solar panel that generated 16,980 joules of electricity and several significant tax-related penalties disclosed in the year: a SEBI fine of INR 5,000, two Income Tax demands of roughly INR 7.75 crore and INR 7.96 crore (both under appeal), and a GST demand of about INR 71.65 lakh (also under appeal). The company has no dedicated board-level sustainability committee and limited formal ESG policies in place.
This is largely a routine procedural filing (AGM notice plus annual report and BRSR). However, investors should note the disputed tax demands totalling nearly INR 16.4 crore under appeal, the sharp jump in employee turnover rate (from 18.6% to 133.3%), and the early-stage nature of the company's ESG framework, which may matter for governance-focused shareholders.