Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility (CSR)

Environmental Achievements

• Reduced energy consumption per unit of fabric production from 0.70 to 0.67 units/meter and per unit of yarn dyeing production from 1.10 to 1.32 units/kg.

Social Achievements

• Undertook CSR projects in rural development, healthcare, and education.
• Low employee attrition rates due to employee-friendly HR policies and on-the-job training.

Governance Achievements

• Implemented a Whistle Blower Policy.
• Established a Corporate Social Responsibility (CSR) Committee.
• Carried out annual performance evaluation of the Board and Directors.

Climate Goals & Targets

Environmental Challenges

• Competition from other developing countries.
• Balancing price and quality.
• Increasing cost of production.
• High capital requirements for new products.
• Threat from the unorganized sector.

Mitigation Strategies

• Focus on ready-made garment business for growth.
• Continuous improvement in productivity.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Environmental Achievements

• Replaced all street lights with LED street lights
• Cleaned 600 solar PV modules to increase solar power generation by 13%
• Replaced APH, resulting in 10% power saving in ID Fan and a 30-degree Celsius increase in Beam Box Temp.

Social Achievements

• Low attrition rates due to on-the-job training and induction process
• CSR activities focusing on healthcare, literacy, and community well-being (Rs. 44.70 Lakhs spent)

Governance Achievements

• Compliance with applicable Secretarial Standards issued by the Institute of Company Secretaries of India
• Annual evaluation of Board performance, Committees, and Directors
• Vigil Mechanism/Whistle Blower Policy in place

Environmental Challenges

• Adverse effects of COVID-19 pandemic impacting financial performance
• Changing tax structures making garments expensive
• Rising interest rates and labor wages
• Competition from low-price garment markets
• Global market tariff and non-tariff barriers

Mitigation Strategies

• Repositioning the company to adapt to changing situations
• Government schemes to boost the economy and help small-scale businesses
• 100% FDI allowed in the textile sector
• Government initiatives like MITRA Park scheme

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Third-party Assurance: Kanu Doshi Associates LLP

Environmental Metrics

Environmental Achievements

• Replacement of Aluminum Fan of Humidification plant with Energy Saving FRP Fans.
• Installation of Condensate Recovery pumps for optimum condensate recovery.
• Water Audit carried through BTRA to optimize Water Consumption.
• Steam traps replacement work to optimize steam consumption.
• Plant Energy audit carried out.
• Installation of Department wise Air flow meters to analyze the Air consumption and optimization.
• Energy Savings Reeds are procured for Air jet looms to optimize Air consumption of Air jet looms.
• The Company has cleaned Solar PV module with Soar NB chemical to increase solar power generation.

Social Achievements

• Your Company’s HR showed a strategic and coherent approach in managing the talent and put an endeavor in employing people and developing their capacities, utilizing and maintaining their services.
• Our Company continuously carries out the necessary improvements to attract and retain the best talent which results in low attrition rates.
• The Company’s policy of providing on the job training has been instrumental in developing a good work force for the Company.

Governance Achievements

• The Company has adopted a Code of Business Conduct & Ethics which is applicable to Board of Directors and all Employees of the Company.

Climate Goals & Targets

Environmental Challenges

• changing tax structure at the state and central government levels making garments expensive, rising interest rates and labor wages and workers’ salaries.
• access to the latest technology and failures to meet global standards in the highly competitive export market.
• fierce competition from countries in the low-price garment market.
• In the global market tariff and non-tariff barriers coupled with the quota are posing a major challenge to the Indian textile Industry.
• environmental and social issues like child labour and personal safety norms

Mitigation Strategies

• The government has allowed 100% FDI by automatic route in the textile sector and it is supposed to attract USD 140 billion foreign investments in coming years.
• Government is encouraging to setup SITP (Scheme for Integrated Textile Parks) and TUFS (Technology Upgradation Fund Scheme).

Supply Chain Management

Climate-Related Risks & Opportunities