This document discusses the evolution of annual reports from their origins in the 19th century to modern practices. It covers: - How annual reports began as a requirement for gold mining companies in Australia in the 1850s-60s to share information with investors. This set a precedent for other regions to mandate annual reports. - How annual reports evolved from basic financial statements to include more strategic, marketing, and branding communications over the 20th century. Companies explored using graphic design, themes, and distribution to attract new investors. - How some Indian IT companies in the 1990s-2000s used annual reports to communicate broader messages around social responsibility, governance, and risk management beyond basic financial data to strengthen relationships with stakeholders