Human resources is considered the most important and valuable asset of an organisation. So, information relating to human resources is useful to the stakeholders in their decision making process. Reporting about ‘Human Resource & Industrial Relation Front’ is one of the mandatory reporting area under Management Discussion and Analysis (MD&A) report under SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015. This paper reports on the measurement and analysis of the extent and nature of disclosure relating to ‘Human Resource & Industrial Relation’ in MD&A report of the companies listed in Bombay Stock Exchange for the period 2018-19. A sample of 55 companies has been taken following the method of simple random sampling. For examining the extent of disclosure, an unweighted disclosure checklist containing 14 information items has been used. It is found that average level of disclosure is 57.66% which is not satisfactory. The maximum disclosure score is 92.86% and minimum is 14.30%. The study reveals that there is a wide variation in the extent of disclosure relating to ‘Human Resource & Industrial Relation’ in MD&A report in India. The quality of disclosure has also been measured based on a grading criteria as Satisfactory, Moderate and Poor. The gradation indicates that reporting of only three companies (5.4%) is satisfactory while disclosure by 20 companies (36.36%) is of moderate quality. Poor disclosure has been reported by the majority of companies (i.e. 32 companies representing 58.19%). So far as the nature of disclosure in this area of MD&A Report is concerned, out of 14 information items, four (28.57%) information items have been disclosed by above 90% companies and one (7.14%) information item has been disclosed by over 75% companies. This indicates that non-disclosure for the remaining nine information items vary widely ranging from 43.64% to 76.36% in companies listed in India. Overall, disclosure in this reporting area is not satisfactory. The findings of the study suggest that there exists scope for improving quality of MD&A Report of companies listed in India.

KEYWORDS: Corporate Disclosure, MD&A Report, Human Resource, Industrial Relation, India.