Hitech Corporation Limited
Climate Impact & Sustainability Data (2015-04-01 to 2016-03-31, 2017-04 to 2018-03, 2019-20)
Reporting Period: 2015-04-01 to 2016-03-31
Environmental Metrics
ESG Focus Areas
- Corporate Social Responsibility
Social Achievements
- Initiated CSR activities, spending Rs 5.70 lacs in FY 2015-16 and Rs 1.60 lacs in FY 2016-17
Climate Goals & Targets
Environmental Challenges
- Fire at manufacturing facility in Rohtak, Haryana resulting in extensive damage
Mitigation Strategies
- Rebuilding of the Rohtak factory is underway, with production expected to recommence in the last quarter of FY 2016-17
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2017-04 to 2018-03
Environmental Metrics
ESG Focus Areas
- Education and Skill Development
- Health and Wellness
- Environmental Sustainability
- Restoration of heritage sites
Environmental Achievements
- Two facilities certified as 'Green Channel' partners
- Investments in wind energy and considering solar power
Social Achievements
- Life skills and value education promoted through CSR arm 'Sab Ka Mangal Ho Foundation'
- Free eye check-up camps and mid-day meal programs implemented
- Yoga education initiative launched in orphanages
Governance Achievements
- Full compliance with IND-AS
Climate Goals & Targets
Environmental Challenges
- Disruptions in demand due to GST implementation
- Increased raw material prices due to upward trend in crude oil prices
- Inflationary pressure and increase in power and fuel prices
Mitigation Strategies
- Developing new technologies and automation
- Focus on innovative product creation through R&D
- Arrangement with customers for passing on increased polymer prices
- Restricting imports and covering exchange rate risks
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2019-20
Environmental Metrics
Social Achievements
- Launched employee well-being program through meditation, interactive workshops, multi faith prayers and yoga.
Governance Achievements
- Established a Whistle Blower Policy and a robust process for Related Party Transactions.
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic causing significant reduction in economic activities and business operations.
- Floods at Baddi plant.
- Closure of manufacturing facility at Sarigam.
Mitigation Strategies
- Resumed operations in a phased manner with limited employees.
- Focused on controlling costs and managing resources optimally.
- Shifted Sarigam plant machinery to Naroli plant.
- Paid one-time employee separation compensation.
- Initiated insurance claim process for flood damage.