The business environment, these days, has gained much popularity to be included with sustainable issues. In this context disclosure of non-financial information has become an essential and integral part of corporate financial reporting practices. These non-financial issues are broadly classified as environmental, social, and governance (ESG) factors. These factors are being given weightage in any informed investment decision by all types of investors. Because of the significant effect of these non-financial factors on future cash flows of a business, they are considered to be equally important on par with financial information. Regulatory framework across the globe has begun to promote and regulate the disclosure of ESG information either in annual reports or as separate report. These ESG issues will have a significant bearing on the financial and market performance of companies. The present study has analysed the ESG disclosure performance of the Indian FMCG Sector from 2017 to 2021. The study has concluded that there exists insignificant relation between ESGD score and financial and market performance. Net income has a significant effect on ESGD score and other metrics have shown insignificant relation. Similarly, the mean ESGD score of the sample companies is not equal whereas it was found that variance in ESGD score is equal among the companies.

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Keywords: ESGD Score, CFP, Regression Analysis, ANOVA, Bartlett’s Test, Leven Test.