Abhishek Corporation Limited
Climate Impact & Sustainability Data (2015-03 to 2016-03, 2020-04 to 2021-03)
Reporting Period: 2015-03 to 2016-03
Environmental Metrics
Governance Achievements
- Adopted Code of Conduct for Directors and Senior Management Personnel.
- Adopted a Code of Conduct for prevention of Insider Trading.
- Established a Vigil Mechanism / Whistle blower Policy.
- Set up Internal Complaints Committee (ICC) to redress complaints regarding sexual harassment.
Climate Goals & Targets
Environmental Challenges
- Low turnover, lower capacity utilization with higher debt cost resulting in liquidity problems and non-payment of statutory dues.
- Non-repayment of debt.
- Commissioner of Central Excise, Kolhapur order to pay Excise Duty along with penalty for amount of `9,60,88,696/-.
Mitigation Strategies
- Company is taking necessary steps to address liquidity problems and non-payment of statutory dues.
- Company is taking necessary steps to address other qualifications/observations.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2020-04 to 2021-03
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Low turnover
- Lower capacity utilization
- Financial problems
- Inability to pay statutory dues and debt
- COVID-19 pandemic and lockdown affecting business operations
- Higher depreciation cost
- Lower margins
- Suspension of security trading due to non-submission of some quarterly compliance and non-payment of listing fees
- Public Interest Litigation (PIL) filed against the Liquidator and the Corporate Debtor, resulting in a stay on auction proceedings.
Mitigation Strategies
- Management is taking necessary steps to reduce undisputed statutory liabilities
- Management is actively involved in trying to utilize the idle capacities available with the company
- Continuing operations with safety measures
- Efforts taken by the management to optimally utilize the available capacity