Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Education
• Sports
• Healthcare
• Skill Development
• Support to destitute
• Women Empowerment

Environmental Achievements

• Planted & distributed saplings in Malanpur, Yamuna Nagar and Delhi
• Installed dustbins in government educational institutions and district prisons of Haryana

Social Achievements

• Started new sewing centers to train rural women
• Awarded scholarships to students
• Distributed sewing machines to women
• Provided self-defense training to rural girls
• Sponsored sportspersons
• Installed hand sanitizer dispensers in government institutions
• Provided assistance to senior citizens, widows and PWDs
• Distributed dry ration kits to laborers and poor people

Governance Achievements

• Implemented Ramco ERP system in Yamuna Nagar plant and Chennai plant (in progress)
• Granted stock options to key employees
• Established a three-layer framework for risk management

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impacting supply chain and causing unavailability of parts
• Reduced demand for commercial vehicles due to lockdowns
• Limited success in increasing after-market sales

Mitigation Strategies

• Cost rationalization plan to reduce breakeven point
• Higher revenue share from value-added products and markets
• Debt reduction
• Strengthened IT systems in After Market
• Developed a digital platform for After Markets
• Broad-based network for better supply penetration in the after-market

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Extralite Springs

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced vehicle weight by 30 kg per suspension through optimized trailer air suspension systems.
• Reduced power consumption by approximately 2% by installing timing circuits in PLCs to automatically turn off motors during machine idling.
• Reduced diesel consumption by about 66% in trial runs by changing the trial runs of DGs from once per shift to once per day.
• Reduced gas consumption in the process by approximately 2% by selecting burners with lower gas consumption.
• Maximized natural light in plants using polycarbonate roof sheets.
• Improved energy efficiency by replacing overrated motors with more efficient ones and HPMV lights with LED lights.
• Reduced energy consumption by reducing heating temperature in metal forming machines.
• Reduced air emissions by switching to cleaner fuels (gas or LPG) in furnaces.
• Controlled noise pollution and emissions by installing generator sets with standard acoustical solutions.
• Reduced emissions by fixing retrofit emission control devices in DGs.
• Increased plantation and developed green areas to promote biodiversity.
• Improved water conservation by setting up water flow meters in borehole wells.
• Recycled wastewater for toilet flush and irrigating gardens.
• Reduced water waste by replacing common faucets with self-closing basin taps.
• Utilized rainwater for non-potable purposes through rainwater harvesting systems.
• Conserved natural water sources by constructing ground recharge earth ponds.
• Reduced hazardous waste and water pollution by switching to powder coating paint process and robotic painting.
• Reduced quenching oil consumption by about 12% by separating quenching oil from scales using a centrifugal machine.
• Reduced plastic use by using jute bags instead of plastic bags.

Social Achievements

• Held 35 training sessions on various topics including code of conduct, insider trading, health & safety, skill development, employee well-being, and POSH.
• Improved gender diversity by hiring more female workers on the shop floor.
• Maintained cordial relations with employees and workforce throughout the year.

Governance Achievements

• Reaffirmed credit ratings by ICRA Limited in April 2024.
• Re-appointed Mr. S.P.S. Kohli as Whole Time Director (Executive Director) for a term of 3 years.
• Implemented a Whistle-Blower Mechanism.

Climate Goals & Targets

Environmental Challenges

• Flat growth in the commercial vehicle industry in FY 2023-24 due to a pause in infrastructure spending after strong festive sales.
• Shifting industry towards higher tonnage trucks and trailers impacting unit sales but increasing overall load carrying capacity.
• Adverse impacts of plastic use on the environment.
• Discharge of hazardous and non-hazardous waste.
• Disposal of wastewater generated from industrial operations and domestic sewage.

Mitigation Strategies

• Focus on generating higher revenue from diversified markets and products.
• Measures to rationalize costs, diversify products, and expand markets.
• Minimizing plastic use and being EPR compliant.
• Handling, storage, and disposal of waste in accordance with applicable laws and best practices.
• Installing effluent treatment plants (ETPs) and sewerage treatment plants (STPs) for wastewater treatment and reuse.

Supply Chain Management

Supplier Audits: 90%

Responsible Procurement

• Sustainable sourcing (90% of inputs sourced sustainably).

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Optimized trailer air suspension systems
• Friction-welded trailer axle