Rajvir Industries Limited
Climate Impact & Sustainability Data (2013-04 to 2014-03, 2014-04 to 2015-03, 2020-04 to 2020-12)
Reporting Period: 2013-04 to 2014-03
Environmental Metrics
Total Energy Consumption:354.84 lakhs KWH
ESG Focus Areas
- Corporate Social Responsibility
- Green Initiatives
Environmental Achievements
- Started sending notices and documents through electronic media (Go Paperless initiative)
- Dyehouse runs a zero discharge effluent treatment plant
Social Achievements
- Conducted medical camps, blood donation camps, eye check-up camps and AIDS camps
- Supported NGOs and other charitable institutions
- Furthered the cause of education by starting several schools in the vicinity
- Enhanced water availability in the vicinity
- Evolved roads in the nearby villages
Governance Achievements
- Established a qualified and Independent Audit Committee
- Established a Shareholders/Investors Grievance Committee
- Established a Remuneration Committee
Climate Goals & Targets
Environmental Challenges
- Inability to pass on the burden of high input costs to consumers
- Rise in input prices (cotton and synthetic fibres)
- Increase in raw material expenses
- Increase in wage bills and other expenses
- Decline in core operating profit
- Duplication of new fancy yarns by competitors at lower prices
- Longer lead times for delivery of yarns to domestic and international markets
- Restricted availability of fancy fibres within India
Mitigation Strategies
- Continuous efforts to conserve energy
- Replacement of conventional electrical motors with improved technology
- Introduction of new and fancier products regularly
- Working directly with design teams of fashion brands to showcase new developments
- Boosting revenue in the domestic market through large garment exporters
- Participation in important fashion exhibitions worldwide
Supply Chain Management
Responsible Procurement
- Better Cotton Initiative (BCI)
Climate-Related Risks & Opportunities
Awards & Recognition
- Government of India recognized Star Export House
Reporting Period: 2014-04 to 2015-03
Environmental Metrics
Total Energy Consumption:196.87 lakhs KWH
ESG Focus Areas
- Corporate Social Responsibility
- Sustainable living initiatives
- Green initiatives
- Fair trade practices
Environmental Achievements
- Started sending notices and documents through electronic media (reducing paper consumption)
- Enhanced water availability in the vicinity
- Evolved roads in the nearby villages
- Undertaken ‘green’ initiatives such as afforestation
Social Achievements
- Conducted medical camps, blood donation camps, eye check-up camps and AIDS camps
- Furthered the cause of education by starting several schools in the vicinity
- Supported NGOs and other charitable institutions
Governance Achievements
- Implemented Corporate Debt Restructuring arrangement
- Promoters pumped in additional ₹5 crore of fresh capital
Climate Goals & Targets
Short-term Goals:
- Increase Melange Production by about 50%
Environmental Challenges
- External scenario impacted the Company’s cashflows, affecting debt paying abilities
- Domestic cotton prices remained under pressure, falling below international prices and domestic support prices
- Demand for most man-made filaments and fibres were subdued
Mitigation Strategies
- Entered into a corporate debt restructuring arrangement with lenders
- Promoters pumped in additional ₹5 crore of fresh capital
- Focused on increasing Melange Production and expanding into other value-added products
Supply Chain Management
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- Rajvir Flutter (pretreatment to reduce chemical wash)
Reporting Period: 2020-04 to 2020-12
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic significantly impacted operations and financial results, limited workforce availability and supply disruptions.
- Sale of land by bankers challenged by the company, impacting Property, Plant, and Equipment, Retained Earnings, Deferred Tax Asset, Loss for the Year, and short-term borrowings.
- Erosion of net worth, requiring cost reduction, productivity improvement, financial support from promoters, and sale of assets under discontinued operations.
Mitigation Strategies
- Taking special measures to contain the spread of COVID-19 and gradually resuming operations.
- Filed a securitization application challenging the actions taken by bankers.
- Implementing steps for cost reduction, improvement in productivity and financial support from the promoters, sale of assets under discontinued operations.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Ind AS 34
Third-party Assurance: K C Bhattacharjee & Paul Chartered Accountants