Climate Change Data

Environmental Metrics

ESG Focus Areas

• Conservation of Energy
• Technology Absorption
• Corporate Social Responsibility (CSR)
• Risk Management
• Corporate Governance

Environmental Achievements

• Improved Production planning
• Installation of Steam Traps and Steam Meters in steam-conveying lines
• Maintaining the improved power factor
• Optimum usage of plant
• Replacement of HMPV lights by LED lights
• Replacement of old pumps by energy efficient pumps
• Establishing ISO 9001:2008 bringing better systems and processes, improved quality in all production lines which is in line with customer expectations

Social Achievements

• Adopted a Municipal School in Nasik for carrying out CSR activities
• Industrial relations remained cordial during the year.

Governance Achievements

• Appointment of Mr. Siddharth S. Shetye as the Chairman of the Audit Committee
• All the recommendations made by the Audit Committee were accepted by the Board.

Climate Goals & Targets

Environmental Challenges

• Competition in domestic market from local players
• Margin pressures due to overall capacity exceeding demand
• Imports of low-cost PVC films from China
• Volatility in global crude oil prices and demand for polymers
• Inadequate domestic supply of PVC resin leading to import reliance and forex risks

Mitigation Strategies

• Superior customer service, timely delivery and appropriate pricing
• Cost effectiveness measures in utilities
• Better product mix and cost savings in energy

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• CSR (Corporate Social Responsibility)

Environmental Achievements

• Maintaining improved power factor; Insulation of Steam & Hot water pipes; Replacement of old pumps by energy efficient pumps; Replacement of belt driven exhaust fan with Direct Driven Exhaust fan; Insulation of Boiler Feed water tank; Establishing ISO 14001

Social Achievements

• Helping in educating underprivileged children through direct participation in the upliftment of 3 educational institutions: Municipal School in Nasik, Dharmveer Anand Dighe Jidd Special School at Thane, and Daang Seva Mandal Ashram School at Nasik.

Governance Achievements

• Performance evaluation of all Directors and the Board as a whole was conducted; Separate meeting of Independent Directors was held; Code of Conduct for Business and Ethics for all Board Members and employees in the management Grade was laid down; Whistle Blower Policy implemented; Policy on Prevention of Sexual Harassment at Workplace adopted.

Climate Goals & Targets

Environmental Challenges

• Cost pressure due to raw material price increase; All India transporters strike in July 2018 affecting movement of goods and incurring demurrage charges at ports; Enhanced market competition; Surplus capacity in the industry; Entry level pricing strategy by new entrants.

Mitigation Strategies

• Softening of raw material prices during the later part of the financial year; Consistent quality, superior customer service, timely delivery and appropriate pricing.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• CSR (Corporate Social Responsibility)
• Employee Well-being
• Energy Conservation
• Technology Absorption

Environmental Achievements

• Maintaining improved power factor; Insulation of steam & hot water pipes; Replacement of old pumps with energy-efficient ones; Replacement of belt-driven exhaust fan; Insulation of boiler feed water tank; Establishing ISO 14001, improving natural resource utilization.

Social Achievements

• Continued helping in educating underprivileged children; Upgrading facilities and enhancing the quality of education/training of identified educational institutions; Involved with three educational institutions (Municipal School in Nasik, Dharmveer Anand Dighe Jidd Special School at Thane, Daang Seva Mandal Ashram School at Nasik).

Governance Achievements

• Performance evaluation of all Directors and the Board; Separate meeting of Independent Directors; Adoption of a Code of Conduct for Business and Ethics; Whistleblower Policy; Policy on Prevention of Sexual Harassment at Workplace; Compliance with provisions relating to the constitution of Internal Complaints Committee.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic affecting operations at Nasik and Thane factories; Risk of recoverability of dues from some customers; Competition in the domestic market from unorganized sector; Enhanced competition and price sensitivity; Volatility in raw material prices (PVC resin) due to crude oil price fluctuations; Forex risks, logistics issues, import duty, and anti-dumping regulations.

Mitigation Strategies

• Assessment of recoverability and carrying value of assets; Appropriate provisions in the books of accounts; Consistent quality, superior customer service, timely delivery, and appropriate pricing; Taking required legal steps for recovering dues from customers.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Education

Environmental Achievements

• Regular maintenance of insulation of Steam and hot water pipes.
• Regular servicing of heating valves, heat exchangers and steam traps to eliminate heating wastage leading to energy costs savings.
• Continuous monitoring of power factors as per new rule.
• Periodical replacement of old pumps with latest generation energy efficient pumps.
• Need based replacement of belt driven exhaust fan with direct driven exhaust fan for power saving.
• Installation of energy efficient lighting system.
• Established ISO 14001:2015 bringing better systems and processes, improved utilization of natural resources.

Social Achievements

• Continued helping in educating the under-privileged and economically challenged children.
• Upgraded facilities and enhanced the quality of education / training of identified educational institutions.
• Involved with three educational institutions through direct participation in their upliftment.

Governance Achievements

• The Board of Directors has laid down a Code of Conduct for Business and Ethics for all the Board Members, and all the Senior Management employees of the Company.

Climate Goals & Targets

Environmental Challenges

• Severe impact of COVID – 19 pandemic second wave disrupting the demand supply situation causing unprecedented inflation in sourcing cost.
• Global logistic disruptions in shipping industry impacting unavailability of vessels and containers, high freight cost, longer lead time in raw material availability and thus resulting in higher working capital deployment.
• PVC Resin manufactures continued to experience shortage of key raw materials globally due to shut down of major EDC (Ethyln Dichloride) and VCM (Vinyl Chrolide Monomer) plants affecting consistent Resin supplies.
• Competition in domestic market, as similar products being made available by many local players primarily belonging to unorganised sector.
• Risk of recoverability of dues from some of its customers due to the ongoing COVID-19 pandemic.

Mitigation Strategies

• Maintaining focus on R&D, consistent quality, superior customer service, timely delivery and appropriate pricing to remain as a market leader.
• Appropriate steps (including legal recourse) for recovering of its dues from Customer in case of default.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Certifications: ISO 15378:2017, ISO 14001:2015, ISO 45001:2018

Sustainable Products & Innovation

• Anti-static rigid PVC film for electronics and other applications
• New design rollers in flexible PVC film segment especially for sheeting and rainwear applications
• Various import substituted products in flexible PVC films