Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Employee Well-being
• Community Investment
• Women Empowerment

Environmental Achievements

• Switching more of its energy needs to cleaner fuel sources (18% clean energy from solar and wind)
• Reduction in carbon footprint by 655 metric tonnes in 2019-20 due to solar plant at Chincholi (Solapur)

Social Achievements

• Supported employees emotionally and financially during the pandemic (timely salary payments, advance payments, food kits, motivational talks, engaging activities)
• Certified as a Great Place to Work (2020-21)
• Gifted a refrigerator and stationery items to Titwala Orphanage, Mumbai
• Contributed cookware, computing, and music needs to Anchorage, a home school for adults with special needs in Mumbai
• Donated stationery items and printing equipment to Kamlaben Mehta Dadar School for the Blind
• Contributed computing equipment to Gurukul Centre for Special Children, Ghatkopar, Mumbai
• Supported unemployed contract workers during COVID-19 lockdown by providing food supplies

Governance Achievements

• Established a vigil mechanism to oversee employee and director concerns and provide safeguards against victimization
• Implemented a robust Risk Management process at corporate and BU levels
• Successfully completed its first IATF surveillance audit

Climate Goals & Targets

Environmental Challenges

• Drop in volume sales of 8% in Reclaim Rubber business
• Volatility in polymer prices compounded by a drop in crude oil prices
• Uncertainty in rubber prices for the current fiscal
• Weak transportation sector impacting Polymer Composite business
• Dependence on migrant workforce in the supply chain
• Impact of COVID-19 pandemic on operations and sales, especially in China

Mitigation Strategies

• Increased export sales to over 60 countries
• Held prices of major product categories
• Expanded capacity in Engineering Plastics business
• Investing in technology upgrades and automation to reduce manpower dependence
• Investing in cleaner technology in Reclaim Rubber business to eliminate wastewater and toxic fumes
• Actively pursuing potential partnership opportunities for long-term offtake
• Developing alternative sourcing strategies for supply chain
• Proactive transition to Work from Home during COVID-19 lockdown
• Implemented Standard Operating Procedures and Training Modules for workplace safety

Supply Chain Management

Responsible Procurement

• Focussing on upgrading our supply chain (bottom of the pyramid, below poverty line individuals) through enabling technologies for payments, collection

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: EcoVadis

Certifications: IATF

Awards & Recognition

• AIRIA award for Top Export in raw material sector

Environmental Metrics

ESG Focus Areas

• Sustainability
• Circular Economy
• Renewable Energy
• Waste Tyre Recycling

Environmental Achievements

• Investment in 3 windmills (1.25MW each) for power cost reduction starting Q2 FY24
• Significant reduction in international freight costs
• Successfully commenced and started sale of products of newly launched Repurposed Polyolefins in Q4
• Recycling end-of-life tires, plastics, and converting them into sustainable materials through multiple verticals

Social Achievements

• 20% increase in recruitment of women across locations
• Wellbeing awareness sessions
• Providing support for special need adults
• Initiatives like celebration of men’s and women’s day
• Birthday celebrations
• Mobile Education Vans
• Yoga sessions
• Health camps
• Drinking water stations and toilets for girls
• Water coolers at plants
• CSR contributions in shaping the ‘How’ and the ‘Why’ of almost every activity

Governance Achievements

• Highly structured Integrated management system consisting of IATF 16949:2016, ISO 9001: 2015, ISO 14001:2015 and ISO 45001:2018 for all its reclaim rubber manufacturing units.
• Reclaim Rubber products are also all REACH Certified for EU Zone

Climate Goals & Targets

Environmental Challenges

• Revenue degrowth due to reduction in volume (9%) because of slowdown in EU & North America resulting in lower export revenues for Reclaim rubber and impact of fire on Non-reclaim business
• Increased interest costs due to reduced subvention support during COVID coupled with a surge in Repo rate
• Fire accident at Akkalkot plant in Solapur resulting in disruptions in operations of Engineering Plastics and Polymer composite business units (revenue loss of Rs. 5 crore and 10% EBITDA)
• Slowdown in EU & North America resulting in lower export revenues
• Power tariff increase of 9% and change in product mix resulting in increased energy cost

Mitigation Strategies

• Investment in windmills for power cost reduction
• Improved working capital management and improved operating margins
• Insurance claim assessment for fire accident (Rs.2.50 cr received)
• Conversion cost efficiency
• Reduction in working capital cycles (7 days compared to previous year)

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, REACH

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, REACH

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)

Initiatives such as renewable energy investments, recycling programs, and sustainable product development contribute to these goals.

Sustainable Products & Innovation

• Reclaim Rubber
• Engineering Plastics
• Custom Die Forms
• Polymer Composite
• Repurposed Polyolefins

Awards & Recognition

• Best Tyre Recycler 2022: RUNNER UP
• EcoVadis CSR Rating 2017: BRONZE, 2019: SILVER

Environmental Metrics

ESG Focus Areas

• Sustainability
• Circular Economy
• Waste Tyre Recycling
• Renewable Energy

Environmental Achievements

• Reduced logistics costs contributing to improved gross profit margins
• Investment in renewable energy to reduce power costs
• Recycling of end-of-life tires, plastics, and converting them into sustainable materials
• Reduction in wooden pallet consumption
• Introduction of greener technologies

Social Achievements

• 20% increase in recruitment of women
• Initiatives like celebration of men’s and women’s day
• Drinking water stations and toilets for girls
• Water coolers at plants
• CSR initiatives including vocational training, support for yoga and meditation, awareness programs, healthcare projects, and education support

Governance Achievements

• Highly structured Integrated management system consisting of IATF 16949:2016, ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 for all its reclaim rubber manufacturing units
• Reclaim Rubber products are also all REACH Certified for EU Zone

Climate Goals & Targets

Environmental Challenges

• Slowdown in exports to EU & North America due to manufacturing slowdown
• Power tariff increase of 9% and change in product mix resulted in increased energy cost
• Significant slowdown in Polymer Composite business

Mitigation Strategies

• Investment in renewable energy to reduce power costs
• Improved net current assets through working capital management and improved operating margins
• Reduction in working capital cycles

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, REACH

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, REACH

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)

GRP's initiatives in renewable energy, sustainable materials, waste recycling, and community engagement contribute to these SDGs.

Sustainable Products & Innovation

• Reclaim Rubber
• Engineering Plastics
• Custom Die Forms
• Polymer Composite

Awards & Recognition

• Best Tyre Recycler 2022: RUNNER UP
• EcoVadis CSR Rating (Bronze, Silver)