BRSR applicability: who must file, from when, and how the top 1,000 is counted

The Business Responsibility and Sustainability Report (BRSR) is mandatory for the top 1,000 listed companies by market capitalisation. SEBI introduced it in May 2021 — voluntary for FY 2021-22 and mandatory from FY 2022-23 — replacing the earlier Business Responsibility Report.¹ This guide explains how the ranking works and which further requirements come with it.

How the top 1,000 is counted

• The ranking is by average market capitalisation from 1 July to 31 December. SEBI moved to this six-month average in December 2024, instead of the value on a single date; the exchanges prepare the list after 31 December each year.²
• The requirement sits in regulation 34(2)(f) of SEBI's listing regulations.⁵
• A requirement that applies by market-capitalisation rank continues to apply to a company that falls out of the rank, until it has stayed outside it for three consecutive years.²
• A company in the top 1,000 on either exchange files its BRSR with both NSE and BSE.⁴

In practice: check the lists the exchanges publish in early January, and plan for the BRSR from the year you first enter the top 1,000.

What comes with the BRSR, by rank

SEBI's March 2025 circular also allows an assessment — carried out to standards of the Industry Standards Forum — instead of an assurance engagement.³ See BRSR Core reaches the top 1,000 for what first-year companies should prepare.

When the BRSR is due

The BRSR is part of the annual report, so it is due with the annual report. It is also filed with the stock exchanges in XBRL — see Filing BRSR in XBRL.

If you are outside the top 1,000

• Voluntary filing. Any listed company may publish a BRSR voluntarily; many do, to meet investor expectations ahead of entering the top 1,000.
• Customer requests. If you are a significant supplier or customer — 2% or more of purchases or sales — of one of the top 250, you may be asked for value-chain ESG figures.³
• Unlisted companies. SEBI's BRSR requirement applies to listed companies. Unlisted companies are reached through their customers, lenders and, for exporters, EU rules such as the CSRD and CBAM.

Frequently asked questions

Is BRSR applicable to unlisted companies?

SEBI's requirement applies to the top 1,000 listed companies. Unlisted companies are not required to file a BRSR, though many are asked for BRSR-style data by their listed customers.

What happens if a company drops out of the top 1,000?

The requirement continues to apply until the company has been outside the top 1,000 for three consecutive years.

How is the top 1,000 calculated?

By average market capitalisation from 1 July to 31 December, in the lists the stock exchanges prepare after 31 December.

Which companies need BRSR Core assessment or assurance in FY 2026-27?

The top 1,000 listed companies by market capitalisation.

How ESGTrack helps

ESGTrack works out from your market-capitalisation rank which requirements apply — BRSR, BRSR Core assessment or assurance, value-chain disclosures — and takes you from data collection to a checked BRSR and its XBRL file. Start with the free BRSR readiness checklist, or book a demo.