Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Highest ever hot metal production of 1.355 MT (5% YoY increase) and saleable production of 1.260 MT (6% YoY increase)
• Acquired 2 iron ore mines in Barbil, Odisha (Nandidih Iron ore Block & Nandidih Iron Ore & Manganese Block) for backward integration and cost optimization.

Social Achievements

• Various COVID relief initiatives: setup of temporary 100-bedded hospitals, tie-up with hospitals for RTPCR tests and ICU beds, distribution of masks and sanitizers, awareness programs in rural areas, and vaccination camps.
• Received 'Great Place to Work' award (2nd time in a row); Apex India Safety Award 2021; Excellence in Supply Chain in Steel award; Excellence in Equality & Diversity Award; HR Excellence in Change Management Award; and UK Cares Certifications.

Governance Achievements

• CRISIL Ratings upgraded long-term bank facilities rating to ‘CRISIL AA’ from ‘CRISIL AA-’ and revised outlook to ‘Stable’ from ‘Positive’. Short-term bank facilities rating reaffirmed at ‘CRISIL A1+’.

Climate Goals & Targets

Environmental Challenges

• EBITDA margins contracted by 20% YoY due to increased iron ore and coking coal prices.
• Volatility in overall steel markets in terms of pricing.
• Imposition of export duty on pig iron, TMT & Wires rod by the Government of India.
• Consent to Operate (CTO) and Environmental Clearance (EC) issues pending with the Ministry of Environment, Forest and Climate Change (MoEF).

Mitigation Strategies

• Working on cost optimization and increasing production efficiency for better product mix and price realization.
• Acquired iron ore mines to ensure continuous supply.
• Expecting stable steel demand in 2022 and a sharp correction in coking coal and iron ore prices.
• Filed special leave petition before the Supreme Court regarding EC and CTO issues; Supreme Court directed MoEF to process the EC application.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 27001:2013, BS EN ISO 9001:2015

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Great Place to Work', Apex India Safety Award 2021, Excellence in Supply Chain in Steel, Excellence in Equality & Diversity Award, HR Excellence in Change Management Award, UK Cares Certifications

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 23000+ plantation of saplings across entire plant
• Successful trial of biomass in CFBC boiler
• 34% green belt development
• MOU with Tata Mines (Jharia) for lifting of bottom ash & Sand mould core
• Installed Mercury Analyser in CPP stack
• Installed BTEX Analyzer

Social Achievements

• Great Place to Work Certified (3rd time in a row)
• CII HR Excellence Award
• Kincentric Best Employer Award
• ASSOCHAM Work Vision 2022 Annual HR Excellence Award
• Happiest Workplaces Awards
• Healthiest Workplace Award
• W.E. Matter Global Employees' Choice Awards 2022
• GPTW - India's Top 50 Best Workplaces in Manufacturing 2023

Governance Achievements

• Reappointed M/s. Lodha & Co., Chartered Accountants as Statutory Auditors
• Appointed M/s. Sanjiban & Co., Cost Accountants as Cost Auditors
• Reappointed M/s. KPMG as Internal Auditors
• Appointed M/s. Vinod Kothari & Company as Secretarial Auditor

Climate Goals & Targets

Environmental Challenges

• Rapid dynamic price changes in input commodities and finished products
• Abnormal surge in international Coking Coal prices
• Imposition of export duty on Pig iron, TMT & Wires rod and increased export duty on iron ore (later withdrawn)
• Non-renewal of Consent to Operate (CTO) and revocation of Environmental Clearance (EC)
• Notice of Demand from Odisha government for penalty on alleged shortfall in production and dispatch requirements
• NIL payment to Operational Creditors during CIRP of Electrosteel Limited

Mitigation Strategies

• Working on optimizing cost, increasing production and operational efficiency
• Acquired two mines to ensure continuous supply of Iron ore
• Filed writ petition against JSPCB's rejection of CTO renewal
• Filed writ petition against MoEF's revocation of EC, obtained stay order
• Applied for Forest Diversion proposal and received Stage I Forest Clearance
• Filed Revision Application contesting Odisha government's demand
• Vedanta Limited submitted resolution plan for acquisition, addressing Operational Creditor concerns

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Great Place to Work Certified
• CII HR Excellence Award
• Kincentric Best Employer Award
• ASSOCHAM Work Vision 2022 Annual HR Excellence Award
• Happiest Workplaces Awards
• Healthiest Workplace Award
• W.E. Matter Global Employees' Choice Awards 2022
• GPTW - India's Top 50 Best Workplaces in Manufacturing 2023

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Developed Miyawaki Forestry, covering 2.63 acres with over 53,000 saplings, and planted an additional 82,000 trees across its premises.
• Introduced electric forklifts to reduce its carbon footprint.
• Achieved 100% utilization of blast furnace slag, fly ash, and bed ash.
• Installed a dust analyzer in its Sinter plant to monitor and control emissions.

Social Achievements

• Children’s education and Nandghar initiatives.
• Healthcare, water sanitization, sports, and community infrastructure development.

Governance Achievements

• Received Happiness and Well-Being Award for FY 2023-24
• Received Kincentric Best Employer Award for FY 2023-24
• Received NABARD awards Project WADI for highest survival rate of plants & overall excellent performance, July 2023
• Received 10th CSR India Award, Greentech Foundation – Gender Equality & Empowering Women, for FY 2023-24
• Received Sardar Patel National Award 2024

Climate Goals & Targets

Environmental Challenges

• Decline in market prices for long products and volatility in commodity prices, mainly in coal and iron ore.
• Company’s Consent to Operate (CTO) for its steel plant at Bokaro was not renewed and later rejected by the Jharkhand State Pollution Control Board (JSPCB). Environment Clearance (EC) was revoked by Ministry of Environment, Forest and Climate Change (MoEF & CC).
• Notice of Demand from Odisha State government to deposit a significant amount in relation to penalty for alleged shortfall on minimum dispatch and production requirements of Company’s mines.
• NIL payment to Operational Creditors in the resolution plan challenged in Supreme Court, leading to further legal proceedings.

Mitigation Strategies

• Working on optimizing costs and increasing production and operational efficiency.
• Filed writ petitions before the High Court of Jharkhand against rejection orders for CTO renewal and EC revocation. Supreme Court allowed plant operations to continue pending decision on revised EC.
• Filed Revision Application under Rule 35 of MCR, 2016 contesting the demand from Odisha State government.
• Vedanta Limited (holding company) agreed to re-convene the CoC and filed IA for reappointment of a Resolution Professional to address the NIL payment to Operational Creditors issue.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Happiness and Well-Being Award for FY 2023-24
• Kincentric Best Employer Award for FY 2023-24
• NABARD awards Project WADI for highest survival rate of plants & overall excellent performance, July 2023
• 10th CSR India Award, Greentech Foundation – Gender Equality & Empowering Women, for FY 2023-24
• Sardar Patel National Award 2024