Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Completed 2MW solar commissioning in Dappar and Chennai plants, and 1MW in Mehsana plant. Undertook a hybrid plant (solar plus wind energy) implementation.
• Achieved 18% water recyclability at Dappar plant, targeting 35% in FY 2023-24.
• Introduced reusable packaging across plants.

Social Achievements

• Granted 500000 Stock Options to eligible employees under ESOS 2021.
• Annual medical check-ups and awareness sessions on health & well-being for employees.
• Continuous safety training at all levels.

Governance Achievements

• Amended terms of reference of CSR Committee and changed its name to Corporate Social Responsibility & Sustainability Committee.
• Adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace.
• Formal annual evaluation of the Board, its committees and all individual directors.

Climate Goals & Targets

Environmental Challenges

• Tough export markets due to recessionary fears in EU & US.
• Rising steel & aluminum prices.
• Global economic slowdown, impact of war in Ukraine, and risks of stagflation.

Mitigation Strategies

• Focus on domestic market growth.
• Reducing leverage with good cash accruals.
• Broadening product reach and extending global presence.
• Expanding capacity in alloy wheels to cater to global opportunities.
• Developing new components that are technologically superior.

Supply Chain Management

Responsible Procurement

• Supplier selection process includes assessment of social, environmental, and economic performance.
• Suppliers sign undertaking to comply with environmental and social laws and regulations.

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products (lighter wheels)

Reporting Standards

Frameworks Used: GRI Standards, SEBI (LODR) Regulations, 2015

Certifications: ISO 9001, ISO 14001, ISO 27001, ISO 45001, ISO 50001

Third-party Assurance: AKR & Associates

Sustainable Products & Innovation

• Lighter wheels to reduce environmental impacts
• Flow formed technology for alloy wheel manufacturing

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Implemented hybrid power in Mehsana plant, converting approximately 130.00 Lakh units annually to renewable energy; expanding hybrid power model to add 2x 3.3MW renewable energy by FY 2025-26, converting close to 240.00 Lakh units into renewable energy (74% of total power usage in Mehsana plant); added solar capacity in Jamshedpur & Seraikela plants, converting close to 12.00 Lakh units to renewable energy; implemented water conservation project saving close to 40% water at Dappar Plant; similar projects underway in other plants.
• Successfully established “flow forming technology” in alloy wheel, potentially leading to an annual material saving of 350 MT.

Social Achievements

• Implemented several new initiatives to enhance employee health and well-being: established a “wellness and meditation center” with gym and yoga facilities; regular health checkups; bi-weekly stress management/recreational activities; mental health awareness sessions; private platform “Connect to Reconnect” for employee support; health talks with doctors.

Governance Achievements

• Continued to maintain cordial and harmonious relations with its employees; implemented a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013; no complaints received during the financial year.

Climate Goals & Targets

Environmental Challenges

• Global economic headwinds including the Russia-Ukraine war and the Israel-Palestine conflict, causing supply chain disruptions, inflation, and slow growth; competition in the business has increased significantly causing a serious adverse impact on the margins of the auto component manufacturers; water scarcity; complexity and global span of automotive industry supply chains exposing companies to significant sustainability and disruption risks; threats of external cyber-attacks, hacking and internal leakage, modification of information, failure to protect information.

Mitigation Strategies

• Maintained a sharp focus on cost controls, streamlining processes and efficiency enhancements; acquired AMW Autocomponent Limited (AACL); developed a resilient supply chain framework by diversifying suppliers and integrating sustainability criteria into supplier selection; implemented transparent supply chain practices to ensure compliance with environmental and social standards; focused approach on employee engagement and retention of talent; invested in Clean Max Astria Pvt. Ltd. (CMAPL) for renewable energy; installed rooftop solar facilities at all its plants; implemented water conservation measures including rainwater harvesting, recycling, and groundwater recharge; implemented stringent health and safety management systems; regularly conduct trainings to create awareness of safe working conditions; maintains internal health centers to monitor the well-being of its employees; focuses on continuous protection of confidential information through various security measures and obtained ISO- 27001 certification.

Supply Chain Management

Responsible Procurement

• Considers Social, Ethical and Environmental performance factors in the process of selecting suppliers; clearly discusses expectations with suppliers & service providers and ensures sustainable development throughout.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI standards, SEBI (LODR) Regulations, 2015

Certifications: ISO 9001, ISO 14001, ISO 27001, ISO 45001, ISO 50001

Third-party Assurance: Intertek India Private Limited

Sustainable Products & Innovation

• lighter wheels to reduce environmental impacts