Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Severe financial constraints leading to the leasing out of manufacturing units.
• Substandard bank accounts resulting in recovery actions.
• Inability to fulfill obligations for repayment of fixed deposits.
• Non-submission of various statutory returns.
• Non-provision/deposition of various overdue statutory liabilities.

Mitigation Strategies

• Working on restructuring with banks or assignees for unit operation.
• Applying for deferment of fixed deposit repayments (through Company Law Board/NCLT).

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Slowdown in production due to low capacity utilization, liquidity crunch, migration of labor, and fluctuation in raw material prices.
• Non-operational windmill due to non-payment of maintenance charges to Suzlon.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Social Achievements

• Continued generating interest among staff and labour for maintaining hygienic and green surrounding. More emphasis is given to social distance, cleanliness workplace and good house-keeping.

Governance Achievements

• The Board carried out a formal annual performance evaluation of its own performance and that of its Committees and Individual Directors.

Environmental Challenges

• Slowdown in the production due to low capacity utilization, liquidity crunch, migration of labour and fluctuation in the prices of raw materials etc.
• Non-payment of maintenance charges to SUZLON resulting in non-operational windmill.
• Various statutory liabilities outstanding (VAT, ESI, EPF etc.)
• Accumulated losses of Rs. 130.33 Crores which has eroded its peak level net worth.
• Default in the repayment of fixed deposits.

Mitigation Strategies

• The company is mitigating all these risks through internal as well as external audits.
• The Company applied to the Company Law Board for deferment of repayment of deposits.
• The Company is in the process of making good all the lapses of the past and assures timely compliance in future.
• Management is confident of raising adequate finance and rescheduling its debt.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Third-party Assurance: K R Aggarwal & Associates, Chartered Accountants