Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Promotion of Art and Culture
• Promoting Preventive Healthcare
• Promotion of Education
• Disaster Relief/Other Initiatives

Environmental Achievements

• 10,000 Trees planted in FY 2020-21
• Installation of biogas plants
• Organising awareness sessions on waste management and segregation
• Promoting natural waste composting methods in homes
• Rooftop solar panels being installed at RU1 and RU2
• Solar unit installed at Chakan unit

Social Achievements

• 700+ School students supported till date through Shiksha Vikas – Bridge the Gap program
• Artists benefitted across more than 200 cities in FY 2020-21
• Complimentary vaccination drive for all employees, their dependants and various associates
• Support for various NGOs and hospitals/healthcare centres in their fight against COVID-19
• Distribution of food grains, essential items and daily meals to migrant and daily wage labourers

Governance Achievements

• Certified as Great Place To Work by Great Place To Work ® Institute India
• Winner in the 'Stars on Sell side' category by IR Society in association with BSE and KPMG India
• Implementation of a new ERP system

Climate Goals & Targets

Environmental Challenges

• Pandemic-induced lockdown in the first quarter
• Calibration on EPC Businesses
• Slowdown in infrastructural spends
• Disruptions on the supply chain
• Decline in total revenues from operations
• Slowdown in infrastructural spends
• Heightened competition
• Rising raw material costs
• Demand uncertainty
• Impact of COVID-19 pandemic
• Non-repayment of dues from cash-strapped DISCOMs
• Sporadic and localised lockdowns

Mitigation Strategies

• Focused actions to overcome pandemic-induced disruptions on the supply chain
• Strong brand push and active sales efforts across all channels
• Better management of the execution of current projects on hand
• Successfully closing certain legacy projects in the Power Distribution business
• Reducing receivables
• Introduction of continually refreshed product offerings and a more focused go-to-market approach
• Better capital management and selective bidding of projects
• Superior execution of new projects and efficient risk management
• Streamlining corporate structure and interests across various entities
• Acquisition of the demerged business of Hind Lamps Limited
• Acquisition of control and dominant ownership of Starlite Lighting Limited and planned merger of Starlite into Bajaj Electricals
• Complimentary vaccination drive
• Business continuity plans
• Supply and distribution network streamlining
• Use of offline and online channels to increase sales volume
• Cost reduction to drive profitability
• Robust supply chain management and strong product promotion on digital media
• Product launches, investment in online merchandising, digital campaigns, search engine optimisation
• Backward integration of operations
• Vendor & Seller Flex supply chain models
• Special pricing for key products
• Focus on smaller smart lighting projects
• Introduction of new products
• Leveraging digital platforms
• Liquidation of non-moving inventory
• Driving effective completion of legacy projects
• Recovering receivables
• Curtailing operating losses
• Enhancing project management skills
• Establishing robust systems and processes

Supply Chain Management

Responsible Procurement

• Priority given to nearby small vendors
• Technical assistance and training for local and small vendors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NVGs

Certifications: ISO 9001:2015, ISO 14000

Sustainable Products & Innovation

• Antiviral and antibacterial fans, air coolers and gas stoves
• NutriPro mixer grinders
• Extra bright LED lightings
• Energy-efficient products
• 1.5kW Stadium light

Awards & Recognition

• Great Place to Work in India
• Winner in the 'Stars on Sell side' category

Environmental Metrics

ESG Focus Areas

• Environmental Portfolio
• Energy Management
• Water Management
• Supply Chain Management
• Waste Generation and Recycling
• Employee Health & Safety
• Fair Business Practices
• Corporate Governance, Transparency and Disclosures
• Regulatory Compliance and Integrity
• Business Ethics and Anti-corruption
• Environmental Risk Management
• Quality and Service Delivery
• Resilient Business Model and Long-term Profitability
• Product Stewardship
• Sustainable Products
• Community Development
• Human Rights Assessments
• Workplace Safety
• Carbon Sequestration
• Climate Risk Assessment
• Packaging Responsibly
• Eco-friendly Packaging
• Inspiring Trust in Suppliers
• Inspiring Trust in Customers
• Diverse and Inclusive workforce

Environmental Achievements

• Nirlep and Chakan plants achieved Zero Waste to Landfill (ZWTL) certification with a diversion rate >99%
• Green Energy produced at Ranjangaon plant and Windmill, Chakan Plant: 4,400 KW
• Waste Recycled: 5,355 MT
• Green Energy generated: 12,959 GJ
• 3.02% reduction in Scope 2 emissions compared to the previous year due to increased usage of renewable energy

Social Achievements

• Recognised as a ‘Great Place To Work’ for the second consecutive year
• Honoured with the ‘Sustainability Excellence Award 2021’
• ESG India Leadership Awards 2021 in Social category for best-in-class initiatives for Product Quality
• Employee training hours: 31,540 manhours
• Employee volunteering days: 1,751 Days
• Villages impacted via electrification: 2
• Gender Diversity: 5.4%
• Employee engagement score: 79%

Governance Achievements

• Established a Diversity and Inclusion Council
• Implemented the first phase of a new ERP system
• Demerged Power Transmission and Distribution businesses into a separate listed company, 'Bajel Projects Limited'

Climate Goals & Targets

Environmental Challenges

• Continuing impact of the pandemic
• Unprecedented commodity cost inflation
• Repercussions of the Russia-Ukraine war
• High debt situation
• Commodity costs inflation impacting margins
• Supply chain disruptions due to the COVID-19 pandemic

Mitigation Strategies

• Focus on transformation journey and strategic goals
• Laser-focus on generating cash from operations
• Investments in new product launches, brand revitalisation
• Successful execution of complex projects in a time-bound and profitable manner
• Deleveraging the balance sheet by striking the optimum capital allocation across both businesses
• Optimising working capital, operating leverage and treasury activities
• Portfolio simplification initiatives
• De-risking supply chain during COVID-19 by retaining manpower, collaborating with stakeholders, and improving stock availability

Supply Chain Management

Responsible Procurement

• Suppliers Code of Conduct policy
• Manual for Purchasing
• Vendor assessment
• Digital platform/portal “Mulya”
• CTQ trainings for suppliers
• Paryavaran & Safety audit at Tier 2 Supplier

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IIRC, GRI Standards, UN SDGs

Certifications: ISO 14001, ISO 45001, Great Place To Work®

Sustainable Products & Innovation

• Energy efficient products (LED bulbs, energy efficient fans and water heaters)
• Products contributing to customer health and hygiene ('Nutri Pro' feature in mixer grinders)

Awards & Recognition

• Winners in Environment Leadership in the Manufacturing sector (Frost & Sullivan)
• Great Place To Work® certification
• Sustainability Excellence Award 2021 (CII SCALE Awards)
• ESG India Leadership Awards 2021

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Installed solar panels at manufacturing units (Ranjangaon: 297 KWP, Chakan: 605 KWP) to increase energy efficiency and reduce environmental footprint.
• Achieved Zero Liquid Discharge (ZLD) status at Ranjangaon and Chakan plants. Domestic wastewater is treated and reused.

Social Achievements

• Implemented robust occupational health and safety management system across all units.
• Introduced an EHS app to track incidents or fatalities at the workplace in real time.
• Implemented various measures for employee well-being (health insurance, accident insurance, maternity benefits).

Governance Achievements

• Has an Anti-Bribery and Anti-Corruption Policy.
• Has a Whistle Blower Policy.
• Robust corporate governance practices, ensuring transparency in business practices and financial reporting.

Climate Goals & Targets

Environmental Challenges

• Waste generation and recycling (non-compliance with EPR obligations).
• Employee health and safety (workplace accidents and injuries).
• Water scarcity (disruption in operations).
• Supply chain management (climate change and macroeconomic factors disrupting supply chain).
• Product stewardship (consumer awareness about sustainable products and policy/regulatory changes).

Mitigation Strategies

• Implementing waste reduction and recycling programs, working with suppliers to reduce waste generation, implementing sustainable waste management practices, and complying with waste management regulations such as EPR.
• Implementing safety protocols and training programs, conducting regular safety audits, and complying with relevant health and safety regulations.
• Decreasing water usage to increase the efficiency of operations and undertaking water harvesting.
• Diversifying its supplier base, developing contingency plans for supply chain disruptions, implementing quality control measures, conducting supplier audits, and focusing on local suppliers.
• Introduced Product Research Centre (PRC), Centre of Excellence, and Design Quality departments within the Company’s R&D vertical.

Supply Chain Management

Responsible Procurement

• Vendor onboarding with assessment on commercial capability, technical capability, legal compliance, electrical safety, fire safety, hazardous material storage and process management.
• Vendor re-evaluation (some suppliers audited twice a year).
• Paryavaran & Safety audit at Tier 2 Suppliers.
• Local sourcing.
• Mulya digital platform for supply partners.
• Hello Local initiative to accelerate localization of imported products.

Climate-Related Risks & Opportunities

Opportunities

• Focus on energy management, energy efficiency improvement and transitioning to renewable energy sources offers cost saving opportunity along reduced GHG emissions.

Sustainable Products & Innovation

• Energy efficient products such as LED bulbs and energy efficient consumer products

Environmental Metrics

ESG Focus Areas

• Employee Health and Safety
• Quality and Service Delivery
• Fair Business Practices
• Corporate Governance, Transparency and Disclosures
• Environment portfolio
• Regulatory Compliance and Integrity
• Product stewardship
• Energy management
• Waste generation and recycling
• Environmental Risk Management

Environmental Achievements

• Achieved Zero Waste to Landfill at our facilities
• Proactive energy management includes rooftop solar installations and energy-efficient technologies to effectively reduce our carbon footprint
• Waste recovered through recycling, reusing or other recovery operations: 98 %
• Renewable energy mix (Solar generation / Total electricity consumption): 25%
• Waste to land fill: <1%

Social Achievements

• Rated among the Top 25 Manufacturing Companies by the Great Place to Work Institute
• CSR expenditure: INR 5.14 crore
• Total CSR projects undertaken: 14
• Total partnerships for CSR activities: 18
• Employee engagement score: 84%
• Trees planted: 9,200

Governance Achievements

• Implemented a Code of Conduct policy and a POSH (Prevention of Sexual Harassment) policy
• Compliance with Secretarial Standards issued by the Institute of Company Secretaries of India

Climate Goals & Targets

Environmental Challenges

• Weakening rural consumer demand
• Pressure on mass consumption demand in the economy
• Competitive discounting impacting margins
• Challenges in general trade channels
• LED price erosion
• Volatile currencies, commodity prices, and greater reliance on imports
• Increasing dependence on specific geographic regions or distribution channels
• Unforeseen events or social media activities impacting reputation
• Failure to safeguard data and ensure security
• Deviation from assured quality and performance expectations
• Inability to leverage advanced technologies
• Ineffective management of the supply chain
• Risk of failing to comply with laws and regulations

Mitigation Strategies

• Prudent fiscal practices, operational excellence, and flexible business model
• Investments towards upgradation of our brands and products
• Working capital optimisation and strengthening of balance sheet
• Focus on premium categories and segments
• Focus on high-margin, high-end projects
• Extensive brand research
• Continuous improvement in product safety and quality
• Enhanced security measures
• Evaluating suppliers on ESG compliance
• Improving brand differentiation
• Regular auditing of compliance
• Launching new product categories and exclusives
• Integrating AI, ML, and analytics
• Closely observing market conditions
• Adopting advanced processes and technologies
• Regularly reviewing and updating compliance strategies
• Conducting regular compliance checks on critical supply partners
• Maintaining open communication with suppliers

Supply Chain Management

Supplier Audits: 40 vendors of CP business and 9 vendors of lighting business

Responsible Procurement

• ESG-specific Vendor Assessment
• Transition to RoHS compliant materials
• Sustainable packaging and materials

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, Sustainable Development Goals (SDGs)

Certifications: ISO 14001:2018, ISO 9001, ISO 45001

Third-party Assurance: S R B C & Co. LLP, Chartered Accountants

Sustainable Products & Innovation

• Energy-efficient LED bulbs, decorative fixtures, smart lighting systems
• Energy-efficient fans
• Eco-friendly packaging

Awards & Recognition

• Great Place to Work® certification (4 years in a row)
• Ranked among the Top 25 Manufacturing Companies
• Good Design Award
• Golden Peacock Award
• Frost & Sullivan PERP - Quality Enterprise Leadership
• MQH Best Practices Award
• DMA Asia Echo Award
• #WeKonnect Insights Excellence Award