Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic and consequent lockdown leading to a washout of the first quarter's performance.
• Supply chain disruptions due to the pandemic and shipping uncertainties.
• Aggressive competition in end-product markets leading to pressure on value addition.
• Unforeseen external circumstances and/or business conditions affecting the sustainability of performance levels.
• Poor consumer sentiment, particularly for discretionary spending.

Mitigation Strategies

• Implementation of work-from-home wherever possible and adherence to safety protocols.
• Strict standards of hygiene and sanitation, social distancing, and use of masks.
• Availing of government-guaranteed working capital term loans under the Emergency Credit Line Guarantee Scheme 2.0.
• Reduction of overall debt by Rs.33.74 Crores.
• Engagement of Deloitte Touche Tohmatsu India LLP to drive sustainable cost reductions and operational efficiency improvements.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Several awards from national fora including the Quality Council of India and ELCINA (Biax Division, Unit II)
• Bronze rating under the GreenCo initiative (Coex Division, Greater Noida Unit)

Environmental Metrics

ESG Focus Areas

• Ethics, Transparency & Accountability
• Product Lifecycle Sustainability
• Employee Well Being
• Stakeholder Engagement
• Human Rights
• Environment Protection
• Responsible Advocacy
• Inclusive Growth and Equitable Development
• Customer Value

Governance Achievements

• Established a Business Responsibility Committee (BRR Committee) to implement the Business Responsibility Policy.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: National Voluntary Guidelines on Social, Environmental and Economic responsibilities of Business

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Responsibility
• Governance

Environmental Achievements

• Implemented Integrated Management Systems (IMS) covering Quality, Environmental, Energy Policies and Safety & Health standards at Biax division, Barjora, certified under ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018.
• Coex division - Greater Noida Unit received a Bronze rating under the Green Co initiative.
• Initiatives to replace 50% of energy consumption at Coex, Ranjangaon unit with Solar-based energy and to use coal-based methane gas in place of conventional fuels at Biax, Barjora.

Social Achievements

• Various training programs for employees on Risk & Change Management; Automotive QMS; Implementation of IATF 16949 : 2016 and ISO 9001:2015; Managing of Ageing Plants and Retro Fitting; HRD; Process Failure Mode & Effect Analysis (PFMEA); Fault Free Analysis for Quality Management; Environment Laws; Production Processing; Basic Winding Technique; GST, ESG and Communication Skills.
• CSR activities mainly through implementing agencies or via contribution to approved funds focusing on health and social welfare, reducing child mortality, promoting education & social responsible behaviour, and employment enhancing vocational skills.

Governance Achievements

• Established a vigil mechanism for directors and employees under a Whistle Blower Policy.
• Compliant with Section 177 of the Act and Regulation 18 of SEBI Listing Regulations, 2015; details are in our Corporate Governance Report.
• Adopted a Code of Conduct for Directors and Senior Executives.

Climate Goals & Targets

Environmental Challenges

• Muted consumer durables market impacting Coex division.
• Retrospective demand of INR 3.15 crores from West Bengal Electricity Regulatory Commission (WBERC).
• Aggressive competition in the white goods market limiting value-addition.
• Global and Indian economic macro-environment uncertainties.

Mitigation Strategies

• Higher value-added product-mix across divisions.
• Challenging WBERC demand in various forums.
• Management efforts to enrich value-additions via product-mix fine-tuning.
• Debt mitigation to provide a sound foundation for expansion plans.
• Equity investment in SPV with Tata Power Renewable Energy Limited for sourcing solar energy.

Supply Chain Management

Responsible Procurement

• Close cooperation with suppliers; aligning with third-party verifications and standards; ensuring suppliers meet environmental, social and governance expectations.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme environmental changes causing supply chain disruption and physical damage.

Opportunities

• Reduced transportation emissions due to geographical proximity of sheet and liner units to customers.

Reporting Standards

Frameworks Used: GRI, SEBI (LODR) Regulations

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, IATF 16949:2016, ISO 50001:2018

Third-party Assurance: Walker Chandiok & Co LLP

Awards & Recognition

• Best Extrusion Processor by Modern Plastics
• Product Innovator of the Year in Petrochemicals
• Sustainability Excellence in Safety in Petrochemicals at INDIA CHEM 2022
• Gold Award at the 14th Quality Council of India DL Shah Quality Awards
• 2nd Prize for ‘Excellence in Quality Management’ at the 47th ELCINA Awards
• 2nd Prize for ‘Environment Management’ at the 47th ELCINA Awards
• Certificate of Merit for ‘Excellence in Exports 2021-22’ at the 47th ELCINA Awards