Annual Reports & Financial Statements of Indian Companies

Annual Report

Every public limited company is required to maintain a number of documents like annual reports, financial statements, corporate filings, policies, announcements etc.. These documents need to be made available to all shareholders (the company officers are foremost supposed to work in the interest of the shareholders) and to the stock exchanges where they are listed. Additionally the documents need to be filed with regulatory authorities, Government bodies etc. as part of regulations and the law of the land.

These documents can be accessed from multiple sources. In this article, we have compiled a list of these sources.

For ease, I have used Asian Paints as my stock of choice and to help understand the process of deriving the annual reports from different sources

1. Company Website

Head to the website of the company. For Asian Paints, it will be

If you are confused about the website (not every entities website will be as straight-forward as, then go a quick Google Search like what I did for Gas Authority of India Limited (marked in red in image below) which gave me the website in the results (marked in orange in image)

On the company website header or footer, you will see a link which reads Investor or Investor Relations or Corporate Governance. Click on that link to get access to a number of investor related documents. Public listed companies will generally post the following in these pages –

  1. Announcements
  2. Analyst Presentations
  3. Reference Guide for Investors – This document will have your rights as a shareholder in the company, your responsibilities, risks you have assumed, grievance procedures and the procedures relating to trading of securities
  4. Capital Holdings
  5. Calendar of Annual General Meetings – All shareholders are invited to these AGMs and one can attend it even if you have only one share; you can also send someone else to attend the AGM as your proxy
  6. Shareholding Pattern – Explains how many shares are with promoters, public, institutions etc.; gives additional information on voting rights of shares and also reveals the individuals and/or companies which have a large proportion of shares in the company
  7. Stock Quotes – The price of one equity share of the company in the exchange or exchanges where the stock is listed
  8. Financial Results – An important section for investors, the quarterly reports are available here which include the quarter-on-quarter results of different financial years; the results will include the standalone and consolidated profit & loss statement in addition to the segment-wise reports
  9. Investor Education & Protection Fund – The Investor Education and Protection Fund (IEPF) is mandated by the Companies Act which requires the company to transfer any divided that is unclaimed for a period of seven years from the date of transfer to the IEPF
  10. Policies and Programs – This will include the company’s policies on a number of areas such as –
    • Dividend policy
    • Policy on determination of materiality of events or information
    • Employee Code of Conduct
    • Code of Conduct for Board Members and Senior Management Personnel
    • Nomination and Remuneration Policy of the Company
    • Whistle Blower Policy
    • Policy on dealing with related party transactions
    • Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information
    • Code of Conduct to Regulate, Monitor and Report trading by Designated Persons
  11. Notices
  12. Corporate Governance – To ensure the officers of the company work towards the interests of the shareholder, good companies follow strong corporate governance practices which are laid out in the Corporate Governance document
  13. Code of Conduct
  14. Annual Reports
  15. Chairman’s Speech

Here’s a snapshot of the Investors page at Asian Paints

2. Stock Exchange Website

Every public limited company is mandatorily required to file its annual reports, financial statements, corporate filings, announcements etc. with the stock exchange where it is listed. At one point, India had over 21 stock exchanges. However over the few years (esp. 2014 and 2015), a number of the smaller ones closed down. There are currently 5 operating stock exchanges –

  • BSE or the Bombay Stock Exchange which is one of the two primary stock exchanges of India and has over 5000 companies listed (
  • NSE or the National Stock Exchange of India which has over 1600 companies listed (
  • CSE or the Calcutta Stock Exchange (SEBI has asked the CSE to exit but the matter has been referred to an Indian Court) (
  • INX or India International Exchange was formed in 2017 and caters to international investors operating 22 hours a day and six days a week (
  • MSEI or Metropolitan Stock Exchange was formerly known as MCX and facilitates trading in capital market, futures and options, currency derivatives and interest rate futures (

Annual report and financial statements can be accessed from the websites of the operating exchange.

Here’s how to find the Asian Paints annual report for the year 2015 on the BSE website

Step 1 : Log onto Enter the name of the company (partially) in the search bar on BSE and auto-complete the ASIAN PAINTS quote

Step 2 : The resulting page will give you links to annual reports, quarterly financial statements, announcements, news, disclosures, shareholding pattern etc.

Step 3 : Click on annual reports and you’ll get the last 10 years report in PDF format. Go ahead and download the report you want.

3. Free Information Website

Information about listed public companies can be accessed from websites who aggregate financial information from different sources and lay it out for investors in a very organized format.


A very simple and clean interface, all you have to do is to enter the name of the company in the search bar at and then click on the “Documents” tab. The page will give you links for annual reports of different financial years.

b) is a popular financial website that is owned by Reliance Industries with their 2014 acquisition of several TV18 websites. The website gets over 17 million visitors every month across all platforms. gives comprehensive stock information which includes annual reports of listed companies which is available in pdf format and can be downloaded from the website. Here’s the Asian Paints annual report for year 2015 I accessed on the website.

4. Paid Information Website

There are a number of websites who offer access to annual reports and financial information of Indian public limited companies, for a fee. One of these websites is which has over 1 lac annual reports in its repository of over 5000 companies since year 2000. A full access to their reports library is available for ₹12,980 (inclusive of taxes) for retail users.   

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