Gallantt Ispat Limited
Climate Impact & Sustainability Data (2016-17, 2023-04 to 2024-03)
Reporting Period: 2016-17
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Not disclosed
Environmental Achievements
- Not disclosed
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- lack of momentum in the global economy
- lacklustre demand growth in India
- liquidity crunch post demonetisation
- intense competitive pressure with a surge in domestic steel production and elevated level of steel imports at predatory pricing
- cost of iron ore and coal constitute more than 80% of cost of production
- road transportation cost, both for iron ore and coal, is steadily going up over the time
- Global warming and climate change
- Increase in competition, increase in interest rates, inflation, fluctuating markets
Mitigation Strategies
- rapid capacity ramp-up together with smart management of raw materials
- relentless focus on cost discipline and improved productivity across all operations
- reduced debt and strengthened its ability to withstand volatility in the tough and challenging commodities market
- modernization, installing high tech and time saving machinery and supportive systems, improving quality of work by employee training
- Consolidate our market leadership across steel segment, Expand our sales and distribution, increase market presence in steel segment, Enhance Return on investment (ROI) through strategic business planning
- excellent business relationship with the sellers and suppliers
- focusing on new value added products
- internal procedure to mitigate the global adverse impact
- continuously benchmarking of the best HR practices across the industry and carrying out necessary improvements to attract and retain the best talent
- continuous efforts to enhance the brand image of the Company, quality, Cost, timely delivery and customer service
- regularly monitoring and review of changes in regulatory framework
- monitoring requirements of compliance through legal compliance Management tools and regular internal audit and secretarial audit
- development and implementation of critical safety standards across the various departments of the factory, establishing training need identification at each level of employee
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Total Carbon Emissions:18,87,372 tCO2e/year (Scope 1) + 4,62,139 tCO2e/year (Scope 2) + 10,80,741.24 tCO2e/year (Scope 3)
Scope 1 Emissions:18,87,372 tCO2e/year
Scope 2 Emissions:4,62,139 tCO2e/year
Scope 3 Emissions:10,80,741.24 tCO2e/year
Renewable Energy Share:44%
Total Energy Consumption:7,48,104,488 KWH/year
Water Consumption:15,31,140 KL/year
Waste Generated:1,39,478 tons/year
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental stewardship
- People engagement
- Governance engagement
- Social engagement
Environmental Achievements
- 44% overall power from clean energy
- 100% fly-ash utilization
- Zero water discharge
- Green Belt development with approximately 20,000 plants planted
Social Achievements
- Launched free food distribution initiative providing approximately 10.5 lakh meals
- Sponsoring construction of a state-of-the-art auditorium at Guru Gorakshnath University
- Employee engagement initiatives like decision making, annual get-together, sports & office picnic
Governance Achievements
- Strong corporate governance practices ensuring Board oversight and responsible corporate citizenship
- Increased transparency across all elements of ESG
- Robust shareowner engagement program
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Commodity price risk
- Uncertain global economic environment
- Interest rate risk
- Foreign exchange risk
- Human resources risk
- Competition risk
- Compliance risk
- Industrial safety risk
- Cyber security risk
Mitigation Strategies
- Excellent business relationships with associates, focus on new value-added products
- Internal procedures to mitigate global adverse impact
- Minimum debt, surplus funds cushion
- Excellent business relationships with sellers and suppliers
- Benchmarking HR practices, recruitment across India
- Enhance brand value, quality, cost, delivery, and customer service
- Risk identification, mitigation of financial, legal, and operational impacts
- Development and implementation of critical safety standards, regular inspections
- Best-in-class firewalls, security authentication tunnel, daily security updates
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Periodic due diligence for suppliers
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather conditions
Transition Risks
- Emerging regulations for adoption of clean technology and renewable energy
Opportunities
- Development of energy-efficient products
Reporting Standards
Frameworks Used: BRSR
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- North India Best Employer Brand
- Highest tax payers for financial year 2023-24
- Bhamashah Award