NGRBC (National Guidelines on Responsible Business Conduct)

    ESG & Governance

    Nine principles of responsible business conduct issued by India's Ministry of Corporate Affairs in 2019, on which the BRSR is built.

    The NGRBC updated the National Voluntary Guidelines of 2011. The nine principles cover ethics, sustainable products, employee well-being, stakeholders, human rights, the environment, public policy engagement, inclusive growth and consumers. Section C of every BRSR reports performance against each principle, with mandatory essential indicators and voluntary leadership indicators. The NGRBC are guidelines; they become binding through SEBI's BRSR rules.

    Related terms

    BRSR (Business Responsibility and Sustainability Report)BRR (Business Responsibility Report)Stakeholder

    Learn the concept

    From the research

    Valuation

    A Comparative Financial Analysis of Three Listed Companies

    Three IT services leaders, five years of numbers: similar growth, very different margins and returns on capital, and their October 2026 valuations.

    Markets

    IPO Issue Price vs. Listing Price vs. Subsequent Performance

    Seven of India's most talked-about IPOs since 2021, tracked from issue price to listing to October 2026. Buying on listing day lost money in six of seven.

    Valuation

    Paytm: Valuing a Company With No Clean Comparable

    Paytm is part payments processor, part device business, part loan distributor. Why no single peer fits, and how to value it in parts and in reverse.