Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Installed and commissioned PV Solar Power plant of 1795.9 KWP capacities across various roofs and parking space.
• Installation of rain water harvesting system in the Plant areas to increase in underground water level, Water reused for Gardening.
• Green Area has been developed inside the Company.

Social Achievements

• Zero production loss in the FY 2020-21 and helped create a collaborative, healthy and productive work environment.
• Sustained efforts towards building a transformational work culture.
• Focus on development of employees at professional and personal levels using a pioneering, integrated approach to all its employees.

Governance Achievements

• Formalized clearly defined systems to manage its risks within acceptable limits by using risk mitigating techniques and have framed policies for timely addressing key business challenges and leveraging of business opportunities.
• Implemented a comprehensive and fully integrated ‘Enterprise Risk Management’ framework.
• Constituted Risk Management Committee.

Climate Goals & Targets

Environmental Challenges

• Risk of COVID-19 pandemic: The economic fallout from the pandemic is hurting both at the demand and supply side.
• Risk of building future capacity and capability: The Construction Equipment industry is changing at a pace never seen before.
• Foreign exchange risks: The Company is prone to the currency fluctuations due to export and import transactions.
• Risk due to technology innovation: The Company manufactures different construction equipment that needs continuous technological up gradation.
• Risk associated with raw material and supply: The Company purchases raw materials which are prone to price fluctuations.
• Human Resource risks: Attrition of key people and leadership team members could impact business operations and growth.
• Confidential information and IT systems: Failure of information systems to adequately protect the critical data and infrastructure from theft, corruption, unauthorized usage, viruses or sabotage.
• Competition risks: Global construction equipment companies, with deep pockets, are setting up plants in India to ensure that the upcoming regulatory requirements are met.
• Occupational health and safety: Failure to comply with Environment, Health and Safety (EHS) laws may expose the Company to non-compliance and significant penalties from regulatory authorities.
• Inefficient cost structure resulting in reduction in profitability: The risk associated with the Company’s exposure to fluctuations in price of key commodities, including electricity, oil and metal.

Mitigation Strategies

• The Company has set in protocols for its plant/ office and people in accordance with local and national governments’ guidelines. It has established systems and processes to monitor the situation and prevent the spread of COVID-19.
• The Company has a robust process of people development, employment practices and succession planning. It continues to invest in skilling and upskilling of its employees on new and advanced technologies, grooming employees and creating a talent pool and also has leading industry measures to motivate and retain the talent.
• The Company keeps track of currency risk and takes appropriate positions in forward contracts and hedging currencies to mitigate the risk.
• The Company has been investing in R&D and it is upgrading its products continously.
• The Company keeps track on the increase of cost and tries to pass the same to customers on regular basis. The Company also maintains an inventory for the operating cycle to avoid purchasing them at high prices.
• The Company addresses this risk with the help of its People’s team (HR). HR ensures best-in-class remuneration, ample learning and development opportunities, and effective work-life balance through various festive celebrations, regular management communications, in order to keep the workforce engaged and in high spirits.
• The Company has a strong inhouse R&D division which is continously adopting all the products to meet the latest technological needs.
• State-of-the-art equipment and technology across our plants, as recommended by the Pollution Control Board, training and awareness of employees on environmental standards and norms, periodic audits to monitor compliance to applicable EHS laws, disaster management system to implement the most effective accident prevention measures across our operating sites, use of personal protection equipment mandatory for all on-site workers.
• Commodity positions are assessed periodically by the Company. We have internal mechanisms in place to provide commodity price forecasts, which are used to take informed decisions on pricing the products.
• We have IT center and Enterprise Resource Planning (ERP) – integrating all business divisions, Data Loss Prevention (DLP) strategy implemented across all IT assets.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 14001, ISO 45001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Development of tractors with BS-IV engines
• Development of cranes and constructions equipments with BS-VI engines

Awards & Recognition

• Best Company of the Year (Manufacturing)
• The Economic Times Prestigious Brands 2020–21 Award
• Best Company in Cranes & Tower Cranes- CIA World Awards
• Best Company of the Year - ET Now
• Business Leader of the Year- CMD Mr. Vijay Agarwal - ET Now
• Outstanding Employee Engagement Strategy Award- World HRD Congress
• Most Innovative HR Award- World HRD Congress
• 10 Most Inspiring CFO’s In India 2020

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Unanticipated delays in project approvals
• Regulatory hurdles
• Availability of accomplished and trained labour force
• Monetary tightening and funding issues
• Increased cost of manpower

Supply Chain Management

Climate-Related Risks & Opportunities