Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Sustainability
• Governance Sustainability

Environmental Achievements

• Reduced environmental footprint through innovative processes for water stewardship, captive usage of energy from renewable sources and adoption of new methods for waste recycling
• Installation of various devices to reduce the coke consumption, installation of Electrostatic Precipitators (ESP), gas cleaning plant and bag filters, fume extraction system, water sprinkling on internal roads & on top of raw materials, reduction of vehicular movement inside the plant to control emissions.
• Minimising makeup water usage from local municipality and installation of rain water harvesting system for self-consumption, use of air cooled condensers along with closed circuit cooling system to reduce water consumption.
• Waste gas cleaning plant (GCP) water after settling being used at GCP for circulation. Captive Power Plant blown down water also being used in GCP slump. Waste water also being used in slag granulation plant.
• Through usage of vvvf drives in high capacity motors, LED light for illumination across plant premises, installation of transparent sheets on sheds to save electricity in day time.
• Waste Heat recovery for captive power generation, sintering technology for usage of iron ore fines for charging the MBF which helps us to instil the concept of reduce, recycle and reuse.
• 33% green belt across the plant premises as per CPCB guidelines to arrest fugitive emissions. More than 1,094 no of trees with Sirish, Mango, Sal, Mahogany, Devdaru, etc and 3 acres of gardening with various types of plants such as Rose, Mari Gold, Rubber plant, Papaya, Jasmine, etc and various types of herbs for hedging.

Social Achievements

• Industrial harmony of over 35 years with 421 employees and trade unions are a testament to our culture of working together.
• Community welfare measures go well beyond the CSR mandate in the Companies Act, 2013. They cater to the most vulnerable sections among communities, addressing the challenges of today through focused projects encompassing health and safety, sports, education, employment creation activities and special drive towards eradicating hunger, poverty and malnutrition.
• Employee welfare practices

Governance Achievements

• Appointing an active, experienced and independent Board with 3 Independent Directors backed by Board Committees like Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, CSR Committee and Finance Committee

Climate Goals & Targets

Environmental Challenges

• Raw material costs increased faster than hot metal realisations, which squeezed our EBIDTA margins by 36.94%
• Global slowdown in the steel industry may lead to lower exports of Pig Iron and therefore result in surplus availability in the domestic market. Further, with expansion of large integrated steel plants, there could be a mismatch between iron making and steel making capacities especially during the commissioning and ramp-up period resulting in surplus of Pig iron.
• Global iron ore/ coke prices may also exert pressure on the demand/pricing of Pig Iron.
• The Indian steel industry is vulnerable to cheaper imports of Pig Iron countries like China, Russia, Turkey, etc which have currently excess capacity and subdued demand.
• Increased awareness and stricter environmental regulations can lead to higher compliance costs for pig iron producers. Failure to meet these regulations can result in fines or even plant shutdowns, putting additional pressure on the domestic industry.
• Some countries might be investing in newer, more efficient, and environmentally friendly iron-making technologies, such as direct reduced iron (DRI) or electric arc furnace (EAF) methods. This shift could reduce the demand for traditional blast furnace-produced pig iron and impact the domestic industry.
• The pig iron industry relies on consistent and affordable access to raw materials such as iron ore, coke, and scrap metal. Fluctuations in the availability and prices of these inputs can impact production costs and profitability.

Mitigation Strategies

• Enhanced manufacturing infrastructure, implementing modern technology advancements. This has ensured adherence to foremost productivity benchmarks, resulting in amplified operational efficacy and product quality, as substantiated by the recent initiation of the Pulverised Coal Injection (PCI) facility.
• Boosted oxygen enrichment will augment hot metal output while making the Company more financially competitive.
• Backward integration measures by installing the Sinter Plant and the Captive Power Plant and their upgradation transpired into higher realisations of today.
• Focus on efficiency improvement has always been an ongoing process at our Company to improve realisations, we have strategically also focused on the long-term security of raw materials to offset any input cost volatilities.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Fastest Growing Company (Turnover between ` 301 Crore and ` 1000 Crore) in the Economic Times Bengal Corporate Awards 2020

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Met a substantial portion of power requirements through a captive power facility using Waste Heat Gases.
• Installed a Coke Drying System to consume heat energy from the Sinter Plant cooler, reducing coke rate in the MBF and greenhouse gas generation.
• Recycled and used 2,000 KL of wastewater for road sprinkling and plantation purposes.
• Utilized 26,016 KL/A of rainwater for industrial and cooling purposes.

Social Achievements

• Reported an employee attrition rate of 2%.
• Incurred ` 75.23 lakhs on CSR activities, focusing on healthcare, safety, sports, job creation, women’s empowerment, environmental preservation, and poverty alleviation.

Governance Achievements

• Maintained proactive engagement with regulatory authorities.
• Operated with transparency and accountability in all dealings with regulatory bodies.

Climate Goals & Targets

Environmental Challenges

• Low market demand, especially in the latter half of FY23-24 due to global economic slowdown and geopolitical tensions.
• Fluctuation in raw material costs and lower demand resulted in holding inventory at higher prices, affecting the bottom line.
• Rising input costs and skyrocketing raw material prices affected margins in H2 FY23-24.

Mitigation Strategies

• Adopted agile raw material procurement strategies.
• Increased productivity and reported healthy capacity utilization levels.
• Capitalized on favorable market conditions for pig iron to offset some input costs.
• Implemented various cost optimization initiatives to streamline input consumption, reduce waste, and promote resource reuse.
• Established long-term contracts with key suppliers to secure a stable supply and pricing.

Supply Chain Management

Responsible Procurement

• Long-term contracts with key suppliers
• Ongoing dialogue and negotiations with suppliers
• Engaged ~40 MSMEs to procure various raw materials

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Companies Act, 2013, Indian Accounting Standards, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Secretarial Standards issued by the Institute of Company Secretaries of India

Third-party Assurance: M/s. Agarwal Mahshwari & Co. (Statutory Auditor), M/s. B G Lahoti & Associates (Secretarial Auditor), M/s. Patangi & Co. (Cost Auditor)

Awards & Recognition

• Fastest Growing Company (Turnover between ` 301 Crore and ` 1000 Crore) in the Economic Times Bengal Corporate Awards 2020