Climate Change Data

Environmental Metrics

ESG Focus Areas

• GHG emission reduction
• Product and operations carbon footprint mapping
• Efficient inventory and logistics management to reduce carbon footprints
• Reuse and recycling of material
• Optimizing commuting and business travel to only the essentials
• Environmental awareness/training and technology upgradation
• Urban forest development and sapling plantation initiatives
• Monitoring and improving health and safety measures
• Risk-based training programs
• Zero fatal accidents
• Safety of plant area inhabitants
• Donation and financial assistance
• Women empowerment
• Strong Board with respected Independent Directors
• Effective Board Committee structures
• Anti-bribery policy, Quality policy and Sustainability Policy
• Whistle-blower policy/ Vigil mechanism
• Policy against sexual harassment
• Prohibition of insider trading Policy

Environmental Achievements

• Produced air-coolers through greener alternatives
• Invested in low-carbon technologies that translated into enhanced resource and energy efficiency
• Reduced water consumption per unit to a credibly low 0.0059M3
• Developed Symphony Forest Park with 25,000 plants

Social Achievements

• Ensured 100% employee vaccination during COVID-19
• Created a mentorship program for new employees
• Launched Symphony Learning Centre, an online Learning Management System
• Received Great Place to Work certificate in May 2022

Governance Achievements

• Established a vigil mechanism
• Implemented anti-bribery policy, Quality policy and Sustainability Policy
• Established a whistle-blower policy

Climate Goals & Targets

Environmental Challenges

• Lower revenues compared to pre-Covid levels due to pandemic-induced lockdowns in 2020 and 2021
• Sharp increase in material and logistic costs
• Unsold inventory lying with trade partners
• Economic slowdown across countries
• Travel restrictions and conservative customer ordering
• Economic and political issues affecting sales in Sri Lanka, Egypt, and Myanmar
• Increased shipping costs and delays due to lockdowns and port traffic jams

Mitigation Strategies

• Delayed price increase and raised sticker prices only from July 2021
• Engaged in value engineering, cost optimization, and process simplification
• Enhanced the role of digital technology platforms
• Re-examined product designs and negotiated better with suppliers
• Launched a new tower fan product category
• Reappraised product manufacturing in local geographies
• Went direct to consumers in Mexico and Australia
• Commissioned Centres of Excellence for e-commerce and global marketing
• Migrated customer engagements to video conferences and telephone calls
• Strengthened the international sales team
• Developed e-commerce channels directly and through distributors
• Initiated digital marketing campaigns in key international markets
• Resorted to advance planning and inventory management

Supply Chain Management

Responsible Procurement

• Sustainable sourcing across the supply chain

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: ISO 9001:2015, ISO 27001

Sustainable Products & Innovation

• Energy-efficient air coolers

Awards & Recognition

• E4M: Pride of India Brands, The Best of Bharat Awards, 2022

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Significant reduction in energy intensity, water intensity, and greenhouse gas emissions (Scope 1, 2, and 3) compared to the previous year.
• Carbon removal of more than 136 tons of CO2 a year through urban forest development and sapling plantation.

Social Achievements

• Embedded environment, health, and safety policies and practices to enhance work safety and health and minimize hazards and near misses.
• Recognizes equality, inclusivity, and the importance of treating everyone with fairness.

Governance Achievements

• Strong policy framework, including the Code of Ethics and Business Conduct, with adequate monitoring and oversight enables ethical conduct at all levels and times.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• Sustainable sourcing

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: BRSR

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Eco-friendly, energy-saving air cooling technologies

Awards & Recognition

• One of the Top 50 organizations for India’s Best Workplaces™ in Manufacturing 2023

Environmental Metrics

ESG Focus Areas

• Climate change
• Environmental sustainability
• Social responsibility
• Governance

Environmental Achievements

• Achieved Carbon Negative Company status (Scope 1)
• Reduced CO2 emissions intensity by ~1% (Scope 1 & 2) year-over-year
• Recycled 3,824 MT of waste
• Developed lead-free PCB for environmental and energy savings
• Implemented resource efficiency measures to minimize energy and water consumption
• Created Symphony Forest Park (11,000 sq. meters)

Social Achievements

• Launched Symphony Ka Mahotsav (SKM) for channel partners
• Launched new product categories (Tower fans, Kitchen Cooling fans)
• Expanded distribution network to reach small towns and semi-urban locations
• Improved employee engagement score (91)
• CSR expenditure of ₹2.96 crores
• Improved employee retention rate

Governance Achievements

• Aligned Integrated Annual Report with GRI standards
• Implemented robust ESG governance framework
• Established a vigil mechanism (Whistle Blower Policy)
• Completed a buyback of 10,00,000 equity shares

Climate Goals & Targets

Environmental Challenges

• Subdued Indian summer of 2023
• Pandemic, wars, and adverse macroeconomic environment
• Fluctuations in currency and commodity prices
• Import dependency
• Technological obsolescence
• Brand positioning challenges
• Supply chain disruptions
• Quality assurance
• Compliance
• Protection of intellectual property rights

Mitigation Strategies

• Deepened product focus, cost management, targeted marketing, and strategic changes in international operations
• Distribution expansion, launching adjacent product categories, deepening ESG relevance of products, and improving operational efficiencies in India
• Geographic diversification
• Scenario planning, contingency plans, developing relationships with multiple suppliers, negotiating contracts with clear quality standards
• Investing in R&D, promoting an experimentation culture, strengthening relationships with value chain partners
• Establishing a robust and resilient brand position, maintaining consistent messaging
• Developing relationships with multiple value chain partners, implementing strategic inventory management
• Implementing a strong Quality Assurance program
• Building a strong compliance program, conducting regular risk assessments
• Building a comprehensive IP protection program, proactively registering patents

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• Sustainable sourcing practices
• Collaboration with suppliers who embrace DE&I
• Compliance with all applicable laws and regulations
• Adherence to the Company’s Code of Conduct policy

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001:2015, ISO 27001:2013

Sustainable Products & Innovation

• Air coolers with BLDC motors
• Optimized packaging

Awards & Recognition

• India’s Great Place to Work™ 2024
• Top 50 organizations for India’s Best Workplaces™ in Manufacturing 2024
• Top 100 organizations for India’s Great Mid-size Workplaces™ 2024
• Great Place to Work for Best Workplaces™ in Consumer Durables 2024
• Best use of AI in a Campaign at The Mommy Awards, 2023