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The BRSR calendar: from Q4 draft to AGM adoption

BRSR is a nine-month workstream compressed into a printed annexure to the annual report. This lesson lays out the month-by-month calendar every sustainability lead should be running: Q1 data-cadence setup, Q2 assurance-provider selection, Q3 data collection and gap fixing, Q4 draft and Board approval. Miss a month and something breaks.

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Legal basis
BRSR + ESG primary-source stack current to 29 August 2026. Core: SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 Regulation 34(2)(f); SEBI Circular SEBI/HO/CFD/CMD-2/P/CIR/2021/562 dated 10 May 2021 (BRSR); SEBI Circular SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12 July 2023 (BRSR Core, value chain reporting, and reasonable assurance rollout from FY 2023-24 top 150 to FY 2026-27 top 1,000 by market capitalisation); SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/42 dated 28 March 2025 (Measures to facilitate ease of doing business with respect to framework for assurance or assessment, ESG disclosures for value chain, and introduction of voluntary disclosure on green credits: opened assessment-or-assurance choice for BRSR Core verification from FY 2025-26 with market-cap rollout preserved, reclassified value chain disclosure to voluntary from FY 2025-26 with assessment or assurance voluntary from FY 2026-27, refined value chain scope to partners individually 2 percent or more of purchases and sales by value with aggregated coverage may be limited to 75 percent, introduced voluntary green credits disclosure item, tightened no-conflict-of-interest test for verification providers). Frameworks: National Guidelines on Responsible Business Conduct 2019 (Ministry of Corporate Affairs, March 2019); GHG Protocol Corporate Accounting and Reporting Standard Revised Edition 2004; GHG Protocol Scope 2 Guidance 2015; GHG Protocol Corporate Value Chain (Scope 3) Standard 2011; IFRS S1 and IFRS S2 (ISSB, June 2023, effective 1 January 2024). Verification: ICAI Standard on Sustainability Assurance Engagements SSAE 3410 (assurance pathway); Industry Standards Forum BRSR Core Assessment Standards (assessment pathway, ISF jointly constituted by ASSOCHAM, CII and FICCI under the aegis of the stock exchanges in consultation with SEBI). Environmental Rules: Hazardous and Other Wastes (Management and Transboundary Movement) Rules 2016 as amended; Plastic Waste Management Rules 2016 as amended (including EPR framework); E-Waste (Management) Rules 2022; Bio-Medical Waste Management Rules 2016. Labour: Wages Code 2019 and Occupational Safety, Health and Working Conditions Code 2020 (in force 21 November 2025). Grid emission factors: Central Electricity Authority User Guide for CO2 Baseline Database. Reference BRSR filings for case material: Reliance FY24, TCS FY24, Infosys FY24, HDFC Bank FY24, ITC FY24, L&T FY24 (available on respective Investor Relations pages). Items requiring ongoing verification and flagged inside the relevant lessons: any further SEBI revision Circular after 28 March 2025 affecting BRSR Core rollout, value chain framework, or green credits scope; India adoption timeline for IFRS S1 and S2 (MCA and SEBI signal alignment intent; timing pending); any BRSR format revision Circular issued between 1 January 2026 and course launch date.

Here is the mistake almost every first-year sustainability lead makes. She treats BRSR as an annual report annexure, opens the template in October, and starts collecting data. By November she has discovered that Principle 6 Scope 3 needs supplier data that nobody has ever asked for. By December she is chasing HR for the wages median-by-gender calculation, and payroll categories were changed on 15 September so the current-year data is not directly comparable to last year. By January she is arguing with the assurance provider about evidence sufficiency. By February the Board Report has to be finalised and the BRSR is still being edited. By March the annual report is being printed with BRSR errors that cannot be fixed until the next filing cycle.

BRSR is not an October workstream. It is a nine-month workstream. Here is the calendar.

Q1 (April to June): data-cadence setup

  • April: The financial year has just started. Set up (or refresh) the Data Owner Matrix that Module 7 walks through. Every row in the BRSR template needs a name against it: department, role, evidence source. If your matrix from last year had 40 rows unowned by name, close those gaps now.
  • May: Confirm the reporting boundary. Standalone or consolidated. If there is any change in subsidiaries or joint ventures, get a written boundary decision from the CFO office. Rating agencies cross-check the boundary against the audited financials.
  • June: Kick off monthly data collection with the cadence template. First month of clean data collected against the current-year template. Baseline the intensity denominators (revenue, employees, area) that will be used for FY-end calculations.

Q2 (July to September): assurance provider selection and materiality

  • July: If your company is in the BRSR Core reasonable-assurance cohort for the current year (top 500 for FY 2025-26, top 1,000 for FY 2026-27), the assurance provider selection process starts. RFP to three or four ICAI-empanelled sustainability assurance firms. Independence check. Scope agreement. Engagement letter. Give Module 8 lesson 3 a read for the engagement letter template.
  • August: Run the materiality assessment. Section 4 of the course walks through this. Two-axis matrix: importance to stakeholders vs importance to business. Refresh from the previous year with any new material topics (climate transition, biodiversity, cyber, EPR compliance).
  • September: Half-year data close. Reconcile against Q1 baseline. Fix any data-quality gaps identified in the mid-year check. The assurance provider will do a planning walkthrough in September or October; you want your data collection running cleanly by then.

Q3 (October to December): data collection completion and Section drafting

  • October: Assurance planning walkthrough. The provider comes in, reviews the Data Owner Matrix, samples the September evidence, agrees the evidence-collection approach for the FY-end fieldwork.
  • November: Section A drafting. Corporate identity, workforce, wages, CSR spend can all be drafted from H1 data with year-to-date extrapolation for a management sense-check. Section B policy audit refresh: confirm every Board-approved policy is still in force, and that no policy that was refreshed mid-year has changed the yes-no-N/A answer.
  • December: Section C drafting begins. Non-financial data by principle. Scope 1-2 emissions can be drafted using H1 data with December estimates. Scope 3 categories that need supplier data have to wait until year-end.

Q4 (January to March): year-end close, assurance fieldwork, Board approval

  • January: Year-end data close begins. Payroll categories reconciled for the wages median calculation. HR headcount reconciled. Safety metrics reconciled with Occupational Safety, Health and Working Conditions Code 2020 reporting.
  • February: Assurance fieldwork peaks. The provider tests evidence against BRSR Core rows. Findings are shared as they emerge. Section C drafting completes.
  • March: Year-end (31 March). Full-year Scope 1-2-3 emissions calculated using CEA emission factors for Scope 2 and the GHG Protocol Scope 3 category methodology. Assurance provider issues limited or reasonable assurance opinion (as applicable). Board approves BRSR alongside the Board Report and the audited financial statements.

Q1 of next year (April to June): filing, AGM, rating agency response

  • April: Annual report finalised with BRSR inside. XBRL BRSR filing on BSE Listing Centre and NSE NEAPS portals. Module 8 lesson 4 walks the XBRL upload.
  • May: Annual report despatched to shareholders (at least 21 clear days before AGM, per Section 101 of the Companies Act 2013).
  • June or July: AGM. BRSR is part of the annual report placed before shareholders. Investor calls after AGM. ESG rating agency queries start arriving (MSCI, CRISIL, Sustainalytics, S&P Global). Module 8 lesson 6 gives you the QA prep for rating agency engagement.

The single biggest calendar mistake

Starting Scope 3 supplier data collection in Q4. Scope 3 category 1 (purchased goods and services) needs emissions data from your top-N vendors. Vendor engagement takes twelve weeks minimum. If you start in January, you get vendor data in April, which is after the annual report has been finalised. Start Scope 3 supplier engagement in Q2 (July or August) so the data is available for Q4 close. Module 7 walks through the vendor onboarding template.

The second-biggest calendar mistake

Confusing the CSR-2 filing timeline (under the Companies Act, currently rolling as amended for FY 2023-24) with the BRSR filing timeline. The two are related (BRSR Principle 8 disclosures reference Section 135 CSR spend) but their filing windows are different. CSR-2 goes to MCA; BRSR goes to BSE and NSE inside the annual report. Keep the two workstreams reconciled but distinct.

What to do with this calendar today

Print this lesson. Put a copy on the wall of the sustainability team room. Every month on the first, look at the current month on the calendar and confirm the deliverable is in flight. If any month is behind, escalate immediately. BRSR calendars do not catch up; they compound.

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Citations
SEBI (LODR) Regulations 2015, Regulation 34(2)(f) (BRSR filing obligation) L5-C1
Sub-clause 2(f) of Regulation 34 is the operative BRSR filing obligation for the top 1,000 listed entities by market capitalisation.
Companies Act 2013, Section 101 (Notice of AGM) (AGM notice period) L5-C2
Section 101 of the Companies Act 2013 requires that a general meeting shall be called by giving not less than 21 clear days notice in writing or through electronic mode.
Companies Act 2013, Section 135 (CSR) (Corporate Social Responsibility) L5-C3
Section 135 of the Companies Act 2013 makes CSR mandatory for companies meeting any of the thresholds (net worth ≥ Rs 500 crore, or turnover ≥ Rs 1,000 crore, or net profit ≥ Rs 5 crore). 2 percent of average net profit of preceding three financial years must be spent on Schedule VII activities. CSR spend disclosed in BRSR Principle 8.
Free preview
Reading Module 1. Enrol to unlock the rest of the course.
Module 1: The story of BRSR
Module 2: Section A, general disclosures
  • Section A opener: corporate identity, listing, reporting boundary
  • Products and services: HSN, NIC, and the conglomerate problem
  • Workforce: permanent, non-permanent, workers versus employees
  • Wages medians: the row assurance providers test hardest
  • Turnover, CSR spend, holding-subsidiary transactions
Module 3: Section B, management and process disclosures on NGRBC
  • Section B decoded: the yes-no-NA table row by row
  • The nine mini-policies you actually need
  • Grievance mechanisms: one register, nine intake channels
  • Board oversight and committee structure for BRSR
  • Template: the NGRBC 9-Principle Policy Pack
Module 4: Section C, Principles 1 to 4
  • Principle 1: ethics, transparency, accountability
  • Principle 2: sustainable and safe products
  • Principle 3: employee well-being and the LTIFR calculation
  • Principle 4: stakeholder engagement and materiality assessment
Module 5: Section C, Principles 5 to 9
  • Principle 5: human rights
  • Principle 6 part one: GHG emissions Scope 1, 2 and 3
  • Principle 6 part two: water, energy, waste, biodiversity, air, EPR
  • Principle 7: policy advocacy
  • Principles 8 and 9: inclusive growth and customer value
Module 6: BRSR Core, the nine attributes that get assured
  • What BRSR Core is and why it exists: Circular 12 July 2023 clause by clause
  • The nine BRSR Core attributes and their intensity ratios
  • Verification mechanics: SSAE 3410 assurance vs ISF assessment, and how to choose
  • Verification provider selection: SSAE 3410 assurance providers and ISF-empanelled assessors
  • The eight common assurance findings and how to prevent them
Module 7: Data collection operating model and templates
  • The Data Owner Matrix: mapping every BRSR row to a name
  • The Monthly Data Collection Calendar: Q1 through Q4 with owner sign-offs
  • GHG Scope 1-2-3 Worksheet: worked example for a mid-size Indian manufacturer
  • Water and energy accounting: withdrawal, consumption, discharge, intensity
  • Waste accounting by CPCB category: the Waste Register template
Module 8: Filing, assurance engagement, value chain, ISSB roadmap
  • The BRSR filing timeline: month by month from Q4 to next-year AGM
  • Internal audit sign-off and Board approval: the resolution your Company Secretary needs
  • Drafting the SSAE 3410 assurance engagement letter
  • The XBRL filing: BSE Listing Centre and NSE NEAPS portal mechanics
  • Value chain reporting: now voluntary, and why sensible top 250 filers still disclose
  • Post-filing: ESG rating agency engagement and question preparation
  • The IFRS S1 and S2 ISSB transition roadmap: what Indian filers should be doing now