Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced power consumption by 7% in air compressor and 20% in raw water pump at ETP by installing VFDs.
• Installed inverters/AC drives and APFC panel for power saving and PF management.
• Installed LED lights throughout the plant.

Social Achievements

• No employee strikes, lockouts, or labor protests since inception.
• Maintained cordial relationship between management and employees.
• Spent Rs. 34 lacs on CSR activities focused on education.

Governance Achievements

• Successfully completed 4 years of listing with BSE and migrated from SME to Main Board.
• Established high levels of governance and financial discipline.
• Implemented a Whistle Blower Policy.

Climate Goals & Targets

Environmental Challenges

• Environmental risks from chemicals used in textile processing.
• Noise, sound, and air pollution from machinery.
• Over-usage of natural resources.
• Fluctuations in raw material prices.
• Increasing power costs.
• Potential risks from changes in key management personnel.
• Market risks due to macroeconomic and microeconomic factors.
• Operational risks related to machinery maintenance and capital availability.

Mitigation Strategies

• Meeting environmental norms and using environment-safe chemicals.
• Building long-term relationships with suppliers for better price negotiation.
• Planning to install a captive power plant and utilize solar power.
• Maintaining an experienced core management team and strengthening SAP & Automation department.
• Hedging market risks through forecasting and strategic adjustments.
• Implementing a planned preventive maintenance mechanism for machinery.

Supply Chain Management

Responsible Procurement

• Long-term relationships with suppliers.
• Prioritizes local procurement.

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products.

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced energy usage by 20%
• Reduced steam consumption by 25%
• Recycled 95-96% of water used
• Installed 0.999 MW Solar Rooftop plant at the Dholi unit
• Planted 50,000 trees
• Established an extensive green cover within the plant and industrial park

Social Achievements

• Active involvement in educational welfare initiatives through 'Chiripal Charitable Trust,' 'Happiness Reserves Foundation,' and 'Milestone Educom Trust'
• Provided educational resources, scholarships, and coaching classes
• Organized robotics workshops for students
• Zero injury and accidents reported
• 4% employee attrition rate

Governance Achievements

• Established several board committees
• Separation of chairman and CEO positions
• Implemented a robust policy on Related Party Transactions

Climate Goals & Targets

Environmental Challenges

• Competition risk
• Exchange rate risk
• Technology risk
• Raw material price inflation risk
• Inadequate raw material supply
• Infrastructure bottlenecks
• Shortage of skilled labor

Mitigation Strategies

• Extensive research and development efforts, innovation, strategic partnerships, and customer connections
• Regular oversight of currency exposure and efficient currency trading approach
• Risk management program and organizational structure review
• Cost optimization, product localization, supply chain efficiency enhancement, and material yield improvement
• Not specified in report
• Infrastructure expansion and investments in process standardisation
• Technological advancements to boost productivity

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Most Iconic Brand in Denim Manufacturing

Environmental Metrics

ESG Focus Areas

• Environmental stewardship
• Social responsibility
• Corporate governance

Environmental Achievements

• Installed a 0.999 MW solar rooftop system at the Dholi unit, reducing power costs and carbon footprint.
• Improved waste heat capture and utilization, decreasing fuel consumption by approximately 1.5 MT per day and deaerator steam consumption by 4-5 MT per day.
• Began utilizing treated effluent water for power plant operations, reducing chemical costs by approximately ₹70,000 per month and power consumption by about 200 kW/day.
• Implemented an online monitoring system for SPM, ensuring compliance with GPCB regulations and resulting in cost savings.
• Repurposed leftover cotton fibers into denim bags and tablecloths, promoting a circular economy.

Social Achievements

• Engaged with registered trusts ('Chiripal Charitable Trust,' 'Happiness Reserves Foundation,' and 'Milestone Educom Trust') for CSR initiatives focusing on education, healthcare, environmental conservation, and skill development.
• Conducted an employee engagement program to augment productivity and promote an engaging working environment.

Governance Achievements

• Separation of duties to prevent conflicts of interest and promote accountability.
• Board diversity with a mix of independent and executive directors, including one woman independent director.
• Comprehensive policies in place, including one on related-party transactions.

Climate Goals & Targets

Environmental Challenges

• Market volatility, supply chain disruptions, and fluctuating demand impacting turnover and profitability.
• Fluctuations in cotton prices, dumping of imported fabrics, and dwindling demand in the Indian textile industry.
• Subdued Indian textile market demand, even during the festive season.
• Red Sea crisis impacting textile exports.
• Increasing imports of fabrics from Bangladesh at lower production costs.

Mitigation Strategies

• Investing in strategic areas to enhance production capabilities, drive innovation, and expand market reach.
• Doubling down on sustainability initiatives, leveraging digital technologies, and enhancing product innovation.
• Optimizing supply chain efficiency and staying in tune with changing consumer preferences.
• Implementing robust sustainability initiatives and embracing digital transformation to enhance manufacturing efficiency.
• Conducting extensive market research and exploring new areas for expansion.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Denim bags and tablecloths from repurposed cotton fibers.