Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Management
• Health and Safety
• Social Responsibility

Environmental Achievements

• Implemented various environmental measures and reduction programs like Greenhouse Gas inventory measurement, replacement of freon gas air conditioners, increasing the area of plantation etc.
• Improved effluent water treatment system conforming to the Pollution Control Board parameters. Increased Biological treatment capacity by 60%.
• Introduced an advanced technology of Biological Diffuser Aeration system which resulted in reduction in chemicals usage, reduction in sludge, improvement in outlet water quality and consistency, and improvement in RO recovery.

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidized costs.
• Developed agro forestry with a demo plant with the technical support of Forest College, Coimbatore.

Governance Achievements

• Adopted a Related Party Transaction Policy in terms of SEBI regulations for compliance with Corporate Governance and Clause 49 of the Listing Agreement.
• Adopted a Whistle Blower Policy.
• Adopted policy on Prevention of Sexual Harassment of Women at Workplace in accordance with The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

Climate Goals & Targets

Environmental Challenges

• Volatility in the prices of raw materials.
• Fashion changes.
• High interest rates.
• Exchange rate volatility.

Mitigation Strategies

• Taken steps to increase exports.
• Actively managing the exchange risk by suitable forward cover.
• Setting up a 9.9 MW co-generation system to take care of its power needs and eliminate the risk of power cuts.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Sustainable Apparel Coalition (SAC)

Certifications: ISO 14001:2004, OHSAS 18001:2007

Environmental Metrics

ESG Focus Areas

• Sustainability
• Environmental Management
• Occupational Health and Safety
• Corporate Social Responsibility

Environmental Achievements

• Implemented various environmental measures and reduction programs like Greenhouse Gas inventory measurement, replacement of freon gas air conditioners, increasing the area of plantation etc.
• Improved effluent water treatment system conforming to the Pollution Control Board parameters. Increased Biological treatment capacity by 60%.
• Introduced an advanced technology of Biological Diffuser Aeration system which resulted in reduction in chemicals usage, reduction in sludge, improvement in outlet water quality and consistency, and improvement in RO recovery.

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidized costs.
• Developed agroforestry with a demo plant with the technical support of Forest College, Coimbatore.
• Organizes employees’ health check-up in outside hospitals on an annual basis.

Governance Achievements

• Adopted a Related Party Transaction Policy.
• Adopted a Whistle Blower Policy.
• Adopted a policy on Prevention of Sexual Harassment of Women at Workplace.

Climate Goals & Targets

Environmental Challenges

• Temporary slowdown in sales due to Demonetisation and GST implementation.
• Challenges in export sales post-GST and strengthening of Rupee.
• Geopolitical factors like currency devaluation by neighboring countries and favorable import benefits to neighboring countries by European countries and AGOA.

Mitigation Strategies

• Targeting high-end and middle-segment brands and retailers in India to augment domestic sales.
• Working on new developments moving towards Sustainability and fabrics are produced using Organic Cotton, BCI Cotton and other rejected fibers.
• Making efforts to make business with new customers and countries to augment sales.
• Making necessary forward covers to insulate against foreign currency fluctuations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Sustainable Apparel Coalition (SAC)

Certifications: ISO 14001:2004, OHSAS 18001:2007

Sustainable Products & Innovation

• fabrics produced using Organic Cotton, BCI Cotton and other rejected fibers

Environmental Metrics

ESG Focus Areas

• Environment
• Health and Safety
• Social Responsibilities
• Corporate Social Responsibility

Environmental Achievements

• Implemented various environmental measures and reduction programs like Greenhouse Gas inventory measurement, replacement of freon gas air conditioners, increasing the area of plantation etc.
• Improved effluent water treatment system conforming to the Pollution Control Board parameters. A new plant has been added which has increased the Biological treatment capacity by 60%. An advanced technology of Biological Diffuser Aeration system has been introduced which has resulted in reduction in chemicals usage. Consequently, reduction in sludge, improvement in outlet water quality and consistence and improvement in RO recovery were achieved.
• Achieved one of the best scores in the apparel industry as verified by a leading brand assessor

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidised costs
• As a part of social environmental protection, agro forestry has been developed with a demo plant with the technical support of Forest College, Coimbatore.
• The Company is conscious of improving the occupational and personal health of its employees. In addition to free medical camps, the Company also organizes employees’ health check up in outside hospitals on annual basis.

Governance Achievements

• Adopted a Related Party Transaction Policy in terms of SEBI regulations for compliance with Corporate Governance and Clause 49 of the Listing Agreement.
• All transactions entered into with Related Parties for the year 2017-18 were on Arm’s length basis.
• All related party transactions are placed before the Audit Committee as also to the Board for approval on a quarterly basis. Omnibus approval was obtained for transaction of repetitive nature.

Climate Goals & Targets

Environmental Challenges

• Increase in raw material cost and cost of fuel with no corresponding increase in sale price
• Textile Industry in India had witnessed downward trend both in the domestic as well as export markets.
• Certain Government policies like Demonetisation, Implementation of GST had resulted in reduced off take in the domestic markets.
• Competition from neighboring countries, reduction of export incentives and strengthening Indian Rupee had adverse impact on export realisation.

Mitigation Strategies

• Company is making efforts to focus on new markets, new segments and other countries in the Far East and Middle East.
• Necessary forward covers are also made to insulate against foreign currency fluctuations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Sustainable Apparel Coalition (SAC)

Certifications: ISO 14001:2004, OHSAS 18001:2007

Environmental Metrics

ESG Focus Areas

• Environmental
• Health and Safety
• Social Responsibility

Environmental Achievements

• Implemented various environmental measures and reduction programs like Greenhouse Gas inventory measurement, replacement of freon gas air conditioners, increasing the area of plantation etc.
• Improved effluent water treatment system, increasing biological treatment capacity by 60% and reducing chemical usage.
• Achieved one of the best scores in the apparel industry as verified by a leading brand assessor.

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidized costs.
• Developed agroforestry with technical support from Forest College, Coimbatore.
• Providing potable drinking water to nearby villages and financial aids to schools.

Governance Achievements

• Adopted a Related Party Transaction Policy.
• Adopted a Whistle Blower Policy.
• Established a mechanism for employees to report concerns about unethical behavior.

Climate Goals & Targets

Environmental Challenges

• Pressure on sales, particularly on denim fabrics due to sluggish sales across mid-segment and high-end brands.
• Piling up of inventory at brands and manufacturers, resulting in mills downsizing production.
• Slowdown in European economy impacting fabric exports.
• High competition in export markets (India, Pakistan, Turkey).
• Pressure from lower-priced Chinese mills due to the US-China trade war.

Mitigation Strategies

• Expecting domestic market improvement during the festive season.
• Targeting new markets (Ukraine, Korea).
• Reorganizing products and marketing channels in subsidiary Trigger Apparels Limited.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Sustainable Apparel Coalition (SAC)

Certifications: ISO 14001:2004, OHSAS 18001:2007

Awards & Recognition

• Golden Trophy awarded by Texprocil for export performance

Environmental Metrics

ESG Focus Areas

• Environmental
• Health and Safety
• Social Responsibilities
• Corporate Social Responsibility

Environmental Achievements

• Achieved one of the best scores in the apparel industry as verified by a leading brand assessor.
• Introduced in-house developed Agitated Thin Film Dryer (ATFD) to concentrate RO reject water to fine-tune the existing Zero Liquid Discharge system.

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidized costs.
• Agro forestry developed with a demo plant with the technical support of Forest College, Coimbatore.
• Providing potable drinking water to nearby villages and financial aids to schools.

Governance Achievements

• Adopted a Related Party Transaction Policy in terms of SEBI regulations for compliance with Corporate Governance.
• All transactions entered into with Related Parties for the year 2019-20 were on Arm's length basis.
• All related party transactions are placed before the Audit Committee as also to the Board for approval on a quarterly basis.

Climate Goals & Targets

Environmental Challenges

• Slump in export turnover by 53% due to tariff war between USA and China and fall in demand in US for home textiles.
• Drop in turnover by 29% compared to the previous year.
• Huge cancellations of orders from European buyers due to the Covid-19 pandemic.
• Uncertainty in the US market due to the Covid pandemic and buyers filing for bankruptcy.
• Slowdown in business due to Covid-19 pandemic.
• Tepid demand and downward trend in overall demand in the domestic market.
• Difficulties in the export market due to Geo Political situations and various countries imposing trade restrictions.

Mitigation Strategies

• Coming up with new developments for overseas buyers and engaging with new buyers to produce fabrics matching their trends and competitive on prices.
• Resumed operations in a gradual manner with commensurate manpower, complying with safety norms.
• Availing RBI's moratorium on term loan and funding of interest on working capital.
• Expecting domestic market improvement during the festive season.
• Contemplating new range of products to enhance the area of operation.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Sustainability
• Health and Safety
• Environmental Management

Environmental Achievements

• Introduced in-house developed Agitated Thin Film Dryer (ATFD) to concentrate RO reject water to fine-tune the existing Zero Liquid Discharge system.
• Achieved one of the best scores in the apparel industry as verified by a leading brand assessor in environmental measures and reduction programs.

Social Achievements

• Maintaining a hospital for serving the community including supply of medicines at subsidized costs.
• Organising free medical camps and health check-ups at in-house hospitals on a regular basis.
• Providing potable drinking water to nearby villages and financial aids to schools.

Governance Achievements

• Adopted a Related Party Transaction Policy in terms of SEBI regulations for compliance with Corporate Governance.
• All transactions entered into with Related Parties were on Arm's length basis.
• All related party transactions are placed before the Audit Committee as also to the Board for approval on a quarterly basis.

Climate Goals & Targets

Environmental Challenges

• Drop in turnover by 16% compared to the previous year, mainly due to the COVID-19 pandemic.
• Drop in fabric production and sales due to the pandemic.
• Truncated operations due to lockdowns announced by Governments on account of COVID-19.

Mitigation Strategies

• Availed Rs.1042 lakh as Covid Emergency loan and Rs.3487 lakh as Guaranteed Emergency Credit Line (GECL).
• Following necessary safety precautions for employees during the COVID-19 pandemic (social distancing, temperature measurements, compulsory masks, hand washing facilities, etc.).
• Focusing on increasing business in the US, Bangladesh, Sri Lanka, and Egypt in the export market and on domestic manufacturers who export garments to the US and Europe.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Occupational Health and Safety
• Environmental Management
• Community Investment
• Environmental Protection

Environmental Achievements

• Introduced in-house developed Agitated Thin Film Dryer (ATFD) to concentrate RO reject water to fine tune the existing Zero Liquid Discharge system
• Achieved one of the best scores in the apparel industry as verified by a leading brand assessor continuously this year also and has been meticulously following various environmental measures and carbon or pollution reduction programs

Social Achievements

• Maintaining a hospital for serving the community including the supply of medicines at subsidised costs
• Agro forestry has been developed with a demo plant with the technical support of Forest College, Coimbatore
• Providing potable drinking water to nearby villages, financial aid to schools

Governance Achievements

• Complied with the provisions relating to the constitution of the Internal Complaints Committee under the Sexual Harassment of Women at Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Climate Goals & Targets

Environmental Challenges

• Total Revenue dropped by 14.86% due to geopolitical issues impacting US and Western markets and abnormal increases in yarn and fuel prices
• Low demand for products in export market due to geopolitical issues
• Abnormal increases in yarn and fuel prices affecting profit margin
• Recession in US and Europe affecting Home Textiles division sales and profit
• Increase in fabric prices affecting Home Textiles profit margin
• Coal prices not reduced as expected

Mitigation Strategies

• Product mix reorientation in the backdrop of higher cotton prices with productivity improvement and higher export sales and cost reduction measures
• Identifying opportunities for Home Textiles products in Africa, Australia, Russia, Singapore, and Malaysia
• Expecting improved performance and profitability in the future due to decreasing yarn and coal prices and increased demand

Supply Chain Management

Climate-Related Risks & Opportunities