Climate Change Data

Environmental Metrics

Social Achievements

• The Company is continuously endeavoring to ensure safe working conditions for all its employees.

Governance Achievements

• The Company has adopted the Code of Conduct and Business Ethics for Employees, Board Members and Senior management Personnel and also the Whistle Blower Policy in due compliance of Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in pursuit of excellence in Corporate Governance.

Climate Goals & Targets

Environmental Challenges

• Continued stiff competition in the market and recessionary trend.
• Lower capacity utilization due to shortage of working capital.
• Production cost pushed up due to exorbitant increase in input cost.
• Lock-out, declared by the management at its Khopoli unit in November, 2013 is still continuing.
• Company's account becoming NPA, consortium of banks led by State Bank of India had moved its application to District Collector Alibaug for Physical Possession of Company's immovable property at Khopoli unit.
• Huge losses and financial crunches.

Mitigation Strategies

• Measures in saving cost at all front of operations; optimize use of available resources etc.
• The Company is trying for One Time Settlement (OTS) with the banks.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Third-party Assurance: Thakur, Vaidyanath Aiyer & Co., Chartered Accountants

Environmental Metrics

Social Achievements

• Continuously endeavoring to ensure safe working conditions for all its employees.

Governance Achievements

• The Company has prepared a policy on Director’s appointment and remuneration pursuant to Section 178 of the Act.
• The Company has also laid down criteria for determining qualifications, positive attributes and independence of Director.
• Formal Annual Evaluation of the Board, Independent Directors, Directors other than Independent Directors and various committees of the Board was conducted.

Climate Goals & Targets

Environmental Challenges

• Continued stiff competition in the market and recessionary trend.
• Lower capacity utilization due to shortage of working capital.
• Increased production cost due to exorbitant increase in input cost.
• Lock-out at Khopoli unit since November 2013.
• Company’s account becoming NPA, leading to physical possession of immovable property at Khopoli unit being contested in DRT court.
• Doubtful recovery of advance given to subsidiary due to financial meltdown in the Middle East.

Mitigation Strategies

• Measures in saving cost at all front of operations; optimize use of available resources.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Various Export Excellency Awards