Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Sustainability

Environmental Achievements

• Zero discharge plants
• Waste water recovery and reuse
• Replacement of conventional bulbs and lights with LED

Social Achievements

• Various CSR initiatives in education, healthcare, sanitation, environmental sustainability and ecological balance
• Safety training programs for employees

Governance Achievements

• Compliance with all applicable provisions of Corporate Governance as stipulated under the SEBI Listing Regulations

Climate Goals & Targets

Environmental Challenges

• Economic slowdown, especially in the Automobile segment
• COVID-19 pandemic and lockdown
• Curtailed production volumes of customers
• Challenges of manpower availability and tight liquidity
• Anticipated global recession and geopolitical trade restrictions

Mitigation Strategies

• Prudent strategy of cost control, dynamic product and customer management and product innovations
• Temporarily suspended operations at plants, corporate office, mall, branch offices and technical service centers
• Restored operations after obtaining permissions and following safety measures
• Constant touch with customers to service their requirements
• Plans to retain or grow market share in all product lines

Supply Chain Management

Responsible Procurement

• Vendor Development and evaluation
• Encourages suppliers to provide raw material, transportation and storage solutions which reduce emissions or energy consumption

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Environment friendly ROHS Compliant processes
• Cyanide free processes
• Electroless nickel plating processes
• Trivalent chromates

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Community welfare
• Employee safety and wellbeing

Environmental Achievements

• All chemical plants are zero discharge plants and process and recycle all the liquid wastes. Effluent Treatment Plants are installed at all the manufacturing facilities.
• Initiatives taken include: Installation of solar panels at rooftop; use of efficient chillers that reduced power consumption; waste water recovery and reuse instead of treatment and disposal; replacement of conventional bulbs and lights with LED.

Social Achievements

• Continued participation in various philanthropic activities to better the lives of the less fortunate. Contributions were made to the PM CARES Fund and Gujarat Chief Minister Relief Fund.
• Distribution of cooked food and food grains to people affected by the COVID-19 lockdown.
• Safety training programs for increasing awareness, disaster preparedness, fire-fighting training, fire mock drills and other trainings programmes among various employees at the plants and offices for safety awareness and preparedness.

Governance Achievements

• Compliance with the requirements of Corporate Governance as stipulated under regulation 34 and Schedule V(C) of SEBI Listing Regulations.
• Established a Vigil Mechanism and Whistle Blower Policy.

Climate Goals & Targets

Environmental Challenges

• Economic contraction in the first half of FY2020-21 due to COVID-19 lockdown.
• Slump in the automotive sector.
• Significant decline in demand from customers and tight liquidity.
• Vapi factory substantially damaged by fire.

Mitigation Strategies

• Adoption of a 4-step action strategy: Protect employees, defend financials, safeguard supply chain, fortify infrastructure.
• Cost control, dynamic product and customer management, product innovations.
• Rebuilt Vapi factory (trial production commenced).
• Closely reviewing the impact of COVID-19 on the business and financial status of the Company.

Supply Chain Management

Responsible Procurement

• Well-established detailed process for procurement of materials, vendor development and evaluation.
• Encourages suppliers to take effective steps for the reduction of emissions and energy consumption.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Certifications: ISO 14001

Third-party Assurance: SCA AND ASSOCIATES, Chartered Accountants

Sustainable Products & Innovation

• Environment friendly ROHS Compliant processes
• Electroless nickel PTFE composite coating

Environmental Metrics

ESG Focus Areas

• Sustainability
• Environmental Conservation
• Social Wellbeing
• Ethical Practices

Environmental Achievements

• Reduced consumption of major inputs including energy and water through various initiatives like solar panels, sewage treatment, rainwater harvesting etc.
• All chemical plants are zero discharge plants and process and recycle all liquid wastes.
• Solid waste and packing materials are recycled and reused.

Social Achievements

• Various CSR initiatives in education, healthcare, environment sustainability, Covid help and vaccination for disadvantaged communities.
• Spent Rs. 190.12 Lacs towards CSR activities.
• Maintained good industrial relations throughout the financial year.

Governance Achievements

• Complied with the conditions of Corporate Governance as stipulated in Regulations 17 to 27 and clauses (b) to (i) of Regulation 46(2) and Para C and D of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Established a Vigil Mechanism / Whistle Blower Policy.
• Revised the “Code of Conduct for Prevention of Insider Trading”.

Climate Goals & Targets

Environmental Challenges

• Steep increase in commodity prices.
• Supply chain uncertainties and bottlenecks.
• High input cost due to global volatility.

Mitigation Strategies

• Developed alternate supply sources for key products.
• Increased prices to customers.
• Implemented strategies to regrow market share in General Metal Finishing segment.

Supply Chain Management

Responsible Procurement

• First preference is given to local vendors for input material locally available, provided that they meet the expectation of the Company on quality, delivery, cost and technology.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: National Voluntary Guidelines (NVGs)

Certifications: ISO 14001

Sustainable Products & Innovation

• Environment friendly ROHS Compliant processes
• Water based sealers