Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Resource Efficiency
• Community Relations
• Diversity and Inclusion
• Employee Engagement
• Occupational Health & Safety
• Customer Satisfaction
• Ethics and Compliance
• Risk Management
• Circular Economy
• Human Rights

Environmental Achievements

• Reduced CO2 emission by 40,385 tCO2e through the use of renewable sources
• Reduced hazardous waste production by 35% (kg/MT)
• 100% wastewater reused
• 9.71% of energy consumed from renewable sources (55.64 MWh)
• 500 trees planted

Social Achievements

• Rs. 183.8 Million invested in CSR
• 174,492+ lives touched through CSR initiatives
• 950+ women empowered
• 47,535 students benefitted
• 3,000+ youths skilled
• 700 hours of employee volunteer hours
• Employee retention rate of 94.21%

Governance Achievements

• Implemented robust risk management framework
• Established a Code of Conduct
• No substantiated complaints concerning breaches of customer privacy and losses of customer data
• No fines from regulatory authorities for non-compliance

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic induced slowdown in the first quarter of FY21
• Climate change related risks (extreme weather events)
• Supply chain disruptions
• Managing risks associated with a large employee base and multiple supply partners
• Maintaining brand reputation
• Data privacy and security
• Waste management
• Water consumption
• Environmental compliance

Mitigation Strategies

• Implemented COVID-19 Response Plan
• Energy efficiency measures and increased renewable energy use
• Circular economy initiatives (reuse of raw material scrap)
• Robust risk management framework
• Brand building campaigns
• Information security policy and ISO 27001 certification
• Waste reduction and recycling initiatives
• Water conservation measures and wastewater treatment
• Environmental management system (ISO 14001)

Supply Chain Management

Supplier Audits: 100% of new suppliers screened using social and environmental criteria

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• E-mobility

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001, ISO 27001, ISO 45001

Sustainable Products & Innovation

• Lightweight components
• E-mobility solutions

Awards & Recognition

• MCCIA Annual Award 2020 for Corporate Social Responsibility
• Outstanding commitment & dedicated support as the Industry Partner Award 2020

Environmental Metrics

ESG Focus Areas

• Climate Change
• Safer workplaces
• Stakeholder engagement
• Waste recycling
• Water conservation
• ESG integration in CSR Programs
• Workforce diversity

Environmental Achievements

• Enhanced renewable energy share from 16% to 25%
• Recycled 99.4% of waste generated
• 31.52% reduction in Scope 1 & Scope 2 GHG emissions per million rupees of turnover
• 30.11% reduction in water intensity per million rupees of turnover

Social Achievements

• Spent ₹169.36 crores on CSR initiatives focusing on health, sanitation, skill enhancement, education, infrastructure, sports, and rural youth empowerment
• Revised supplier code of conduct with ESG/Sustainability aspects
• Initiated sustainability self-assessment exercise for value chain partners
• Positively impacted 1,20,000 rural lives through CSR

Governance Achievements

• Established ESG committee at Board level
• Deployed policies around Human Rights, Anti-Corruption, Anti-Bribery, and Taxation
• ESG screening for all capital expenditures and future M&As

Climate Goals & Targets

Environmental Challenges

• Climate change impacts and challenges
• Supply chain disruptions
• Cybersecurity and digital safety risks
• Competition for resources

Mitigation Strategies

• Implementation of energy-efficient technologies
• Shifting to renewable energy
• Digitalization of operations
• Revised supplier code of conduct with ESG/Sustainability aspects
• Sustainability self-assessment for value chain partners
• Robust compliance management system

Supply Chain Management

Supplier Audits: 61 critical suppliers screened

Responsible Procurement

• Supplier Code of Conduct
• Sustainability self-assessment for suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Natural calamities (earthquakes, cyclones, floods)

Transition Risks

• Technological advancements
• Market changes

Opportunities

• Clean energy integration
• Investment in renewable energy assets
• Fuel retrofitting

Reporting Standards

Frameworks Used: GRI Standards 2021 (Core option), International Integrated Reporting Council (IIRC) guidelines, UN Sustainable Development Goals (UNSDGs)

Certifications: ISO 9001:2015, NABL: ISO/IEC 17025:2017, ISO 27001:2013, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, AS 9100 Rev D, API-20B & API-Q1, Nadcap

Third-party Assurance: PPEA & ASSOCIATES

UN Sustainable Development Goals

• Goal 6 (Clean Water and Sanitation)
• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 13 (Climate Action)

Initiatives contribute to these goals through various environmental, social, and governance programs.

Awards & Recognition

• The CSR Journal Excellence Awards 2021
• MCCIA Annual Award 2020
• Golden Peacock CSR Award 2019

Environmental Metrics

ESG Focus Areas

• Health, safety, and environment
• Climate change
• Intellectual property
• Innovation
• Training and education
• Maintenance
• Data protection
• Pollution-free environment
• Sustained performance & quality
• Brand risk/reputation
• Human rights
• Diversity & Inclusion
• Community development

Environmental Achievements

• Reduced LDO consumption and replaced equivalent energy with CNG
• Utilized 64,061.27 MWh of solar electricity and 32,164.83 MWh of electricity from wind-based turbines
• Installed conversion kits in forging and heat treatment furnace pipelines to replace furnace oil with natural gas
• Implemented an induction heater instead of an electric furnace to heat die parts
• Implemented LED lighting

Social Achievements

• Provided COVID-19 relief support to villages
• Strengthened infrastructure of 20 PHCs
• Created 24 isolation wards for villages
• Provided ambulance and other medical equipment to health centers
• Implemented various employee well-being measures (health insurance, accident insurance, etc.)
• Implemented a Grievance Policy for employees and workers
• Made premises accessible to differently-abled individuals

Governance Achievements

• Established an ESG Committee at the board level
• Implemented an Anti-Corruption and Anti-Bribery Policy
• Implemented processes to avoid/manage conflicts of interest involving board members
• Undertaken periodic reviews of NGRBCs by the ESG Committee
• Undertaken independent assessments/evaluations of policies by DQS India

Climate Goals & Targets

Environmental Challenges

• Disaster recovery (business interruption due to natural calamities)
• Health, safety, and environmental risks (non-compliance with safety measures, non-awareness of hazardous chemicals)
• Intellectual property risks (leakage of confidential information, IP rights clashes)
• Innovation risks (risk of better solutions, technological advancements)
• IT data center & far sight disaster recovery (DR) risks
• Maintenance risks (sub-optimal maintenance plan)
• Data protection risks (confidential data leakage)
• Pollution-free environment risks
• Sustained performance & quality risks
• Brand risk/reputation risks

Mitigation Strategies

• Adequate protection against calamities, including insurance
• Additional mitigation to overcome interruptions due to pandemic situations
• Strict adherence to BBS (behavior-based safety system)
• Focus on reducing effluent generation
• Detailed SOP for COVID-19, employee training & adherence
• Medical check-up, vaccination drive
• Encouraging work from home & multitasking
• Clean energy integration
• Investment in assets for diversified electricity and fuel retrofitting
• Patent filing, regular patent awareness sessions
• Consultation with patent attorneys
• Data exchange only through secured mode
• Periodic infosec audits
• Entering into NDAs
• Antivirus upgrades
• All necessary pollution control norms followed
• Disposal of hazardous waste monitored
• Enhance customer satisfaction
• Alignment in strategies
• Providing end-to-end solutions, dual-shore business model
• Worldwide brand-building activities
• Participation in exhibitions and trade fairs
• Structured technology development projects
• Focus on lightweighting and EV
• Disaster recovery (DR) strategy updates
• Data center establishment and near-site DR
• Needs-based training courses
• Attracting and developing talent
• Monitoring operational performance (OEE) & maintenance through SAP
• Periodic review of privileged system access & implementation of DLP systems
• Restricted data access control & data encryption

Supply Chain Management

Supplier Audits: 56% of critical suppliers

Responsible Procurement

• Supplier Code of Conduct
• Supplier Self-Assessment on Business Ethics and Sustainability

Climate-Related Risks & Opportunities

Opportunities

• Potential carbon routes for reducing GHG emissions offer operational and energy supply opportunities

Reporting Standards

Frameworks Used: National Guidelines on Responsible Business Conduct (NGRBC)

Certifications: ISO 9001:2015, IATF 16949:2016, AS 9100 Rev D, API-20B & API-Q1, NABL:ISO/IEC 17025:2017, Lloyd's Register, Pressure Equipment Directive 2014 and Pressure Equipment Safety Regulation 2016, Nadcap, ISO 27001:2013, ISO 14001:2015, ISO 45001:2018

Third-party Assurance: DQS India (Deutsch Quality Systems Private Limited), Mahabal Enviro Engineers Pvt Ltd

Environmental Metrics

ESG Focus Areas

• Environmental leadership
• Social empowerment
• Governance excellence

Environmental Achievements

• Reduced specific energy consumption and greenhouse gas emissions through advanced manufacturing technologies and process optimization
• Reduced oil consumption by 5,850.6 KL, electricity consumption by 3,589 MWh/Annum & emissions by 9,609 tCO2e
• Recycled 99.5% of total waste generated

Social Achievements

• Initiated robust training programs, coupling traditional craftsmanship with cutting-edge digital tools
• CSR initiatives positively touched 2,16,000+ lives across 100+ villages
• Provided training on human rights to 1,500 employees
• LTIFR (Lost Time Injury Frequency Rate) 0.68

Governance Achievements

• Implemented Information Security Policy
• 77.11% of value chain partners covered under Business Ethics and Sustainability awareness programs
• Member of 17 trade and industry associations

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to geopolitical tensions and rising input costs
• Climate change risks (not explicitly stated but implied)
• Data protection risks related to digitalization

Mitigation Strategies

• Robust risk management framework
• Investments in renewable energy (85.11 MW)
• Implementation of Information Security Policy and ISO 27001:2013 certification
• Multilayer security strategy

Supply Chain Management

Supplier Audits: 51 suppliers assessed in FY 2022-23

Responsible Procurement

• Supplier Code of Conduct
• Green Supply Chain portal
• Sustainability self-assessment for critical suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Clean energy integration, investment in diverse electricity assets, fuel retrofitting

Reporting Standards

Frameworks Used: GRI Standards 2021 (Core option), UN Sustainable Development Goals (UNSDGs), TCFD

Certifications: ISO 9001:2015, ISO 45001:2018, API-20B & API-Q1, ISO 27001:2013, IATF 16949:2016, ISO 14001:2015, AS 9100 Rev D, NABL: ISO/IEC 17025:2017, Nadcap

Third-party Assurance: PPEA & ASSOCIATES

UN Sustainable Development Goals

• 1, 3, 6, 7, 8, 11, 12, 13

The report mentions alignment with 11 of 17 SDGs, but doesn't specify which ones.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• Reduced GHG Emission (Scope 1 & 2) by 11.39%
• Increased Renewable Energy Share to 39.45% of total electricity consumed
• Reduced Non-Hazardous Waste by 11.21%
• Reduced Specific Water Consumption by 2.81%
• Increased Use of Secondary Raw Material to 40%

Social Achievements

• 100% of permanent employees covered by health and accident insurance
• 100% of permanent female employees covered by maternity benefits
• 25.98 average training hours per employee

Governance Achievements

• Established an ESG Committee at the board level
• Implemented an Anti-Corruption & Anti-Bribery Policy

Climate Goals & Targets

Environmental Challenges

• Organisation structure not aligned with rapid disruptive business environment and continuous innovation
• Changes in technology/government policy may result in product obsolescence
• Capital deployment into different businesses leading to reduction in ROCE
• Present IT Systems data architecture may not be able to meet the information requirements
• Challenge in achieving the desired synergies during mergers and acquisitions
• Changes in global political and economic environment may have an adverse impact
• Unable to attract, develop and retain top talent
• Intense competition in the market impacting market share
• Challenges in managing the risks from cyber security, data protection
• Disruptions in supply chain may adversely affect operations
• Challenges in managing regulatory compliance
• Failure to provide a safe working environment

Mitigation Strategies

• Strategy team to define and track the roadmap for monitoring long-term business plan
• Organisation structure to be aligned with changes in business requirements
• Increase in product offering and share of business
• Diversification of product portfolio
• Structured technology development projects
• Monitoring of capital allocation made in long-term business plans
• Further investments based on technology, return prospects
• Project to address issues with the present system
• Revamp the process of generating the financial performance data from ERP System
• Harmonise the IT systems across geographies
• Assessment of vision/cultural alignment and identification of areas of synergy before acquisition
• Development of plan for integration
• Evaluates opportunities to diversify operations across geographies/industries/sectors
• Monitor the concentration risk across all parameters
• Organisation Structure is to be defined as per business strategy
• Critical positions are identified and filled with internal candidates
• Initiate Talent Management Programme
• Identified leaders to undergo rigorous development programmes/assignments/Job Rotations
• Increased face time and interactions with customers
• Improve customer loyalty through faster response time to delivery
• Long-term agreements with customer
• Web Application Firewall (WAF)/ SIEM - SOC mechanism, Data Leak Protection (DLP) mechanism
• Restricted access to external devices
• Privileged accesses reviewed on a periodic basis
• Remote access through VPN needs multi-factor authentication (MFA)
• Offensive Security practice with Breach and attack simulation started every quarter
• Procurement of critical raw material from reliable sources
• Pricing arrangements with the customer to address the cost increase in the raw materials
• Long-term contracts for logistics
• Annual evaluation for critical vendors
• Deploy compliance management system
• Implement global compliance tool
• Quarterly compliance certificate
• Trainings on Legal compliance are organised for the process owners periodically
• ESG Committee at the Board level to oversee the implementation of climate change initiatives
• ESG Framework with 7 objectives and 25 measures devised
• Carbon Footprint Mapping and Validation of Emission Reduction Targets
• Deployment of Energy Management System
• Utilisation of more green energy in the operations and supply chain
• ESG Committee at the Board level to oversee the implementation of resource efficiency initiatives
• Sustainance of existing Occupational Health & Safety Management system
• Safety observations reporting system, near-miss reporting process, safety committee meetings
• Strict adherence to BBS (behaviour-based safety system)
• Detailed SOP, employee training & adherence followed strictly
• Use of digital technology such as industry 4.0 and Artificial Intelligence

Supply Chain Management

Supplier Audits: 35 critical suppliers assessed

Responsible Procurement

• Sustainable procurement policy
• Conflict minerals policy
• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Reducing GHG emissions offers distinct operational and energy supply opportunities

Reporting Standards

Frameworks Used: GRI, SEBI LODR

Certifications: ISO 9001:2015, IATF 16949:2016, AS 9100 Rev D, API-20B & API-Q1, NABL:ISO/IEC 17025:2017, Lloyd’s Register, Pressure Equipment Directive 2014, Nadcap, ISO 27001:2013, ISO 14001:2015, ISO 45001:2018, ISO 50001:2018

Third-party Assurance: B S R & Co. LLP

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed