Cement, auto cos need not publish annual production figures

At a time when cement companies are contesting a Competition Commission of India order on charges of cartelization, this one may be critical. The government has allowed companies to do away with disclosures such as capacity and production figures. This, say media reports is due to the recent revision in Schedule VI of the Companies Act--which has a clause on exempted disclosures on installed capacity and production statistics of manufacturing companies to align reporting norms with global standards.

Along with cement companies, even auto makers will not be liable to print their numbers of cars, the company manufactured in a given year. Traditionally, cement and auto companies announce their sales and production figures each month.

However, industry watchers say that company statistics like production and sales are considered crucial for investors making informed forecast about a company.

Meanwhile, the norms notified in March 2011 by the ministry of corporate affairs have been made applicable from the financial year beginning April 2011. Typically, annual reports for 2011-12 are made available at least a month before the annual general meeting of a company, which is convened by August for companies with financial years ending in March.