Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Healthcare
• Sanitation
• Safe Drinking Water
• Employment Enhancement
• Education
• Sports
• Community Development

Climate Goals & Targets

Supply Chain Management

Responsible Procurement

• Encouraging use of local goods and services

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Installation of LED lights & power saving equipment at all stores to reduce the electricity consumption
• optimum use of air conditioner (AC) at the stores in order to reduce the electricity consumption
• Automation of processes to reduce the use of paper
• Installation of glass doors, walls and windows at the stores to use the daylight and reduce electricity consumption
• Plantation of trees for combating air pollution at warehouse
• Eliminate the use of plastic bags at stores

Social Achievements

• Launched V2 Kart e-commerce portal during lockdown
• Focus on private label to enhance brand recall and improve customer experience
• Initiated measures to keep fixed costs under control (rental renegotiations, supplier engagement, variable cost control)
• Implemented V2R-Employee Stock Option Scheme 2016 (ESOP 2016)

Governance Achievements

• Established an effective whistleblower policy
• Framed a policy for evaluating the annual performance of its Directors, Chairman, the Board as a whole, and the various Board Committees
• Constituted Risk Management Committee

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic and related restrictions adversely affected activities across the value chain
• Reduced consumer confidence due to the pandemic
• Increased inventory days due to lockdowns
• Decline in profit margins due to unprecedented lockdowns

Mitigation Strategies

• Implemented measures to ensure safety of colleagues, customers, and associates
• Scaled up omnichannel initiatives
• Opened 27 new stores and closed 8 stores during the year
• Initiated cost optimization measures
• Focused on margin-accretive private labels
• Improved supply chain network

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Centralized procurement and rigorous quality check
• Wide network of registered vendors and suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Ernst & Young Entrepreneur of the year award in 2008
• 4Ps Power Brand Award in 2007

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Economic and Market Risk: Major changes in the economic environment (such as the pandemic) may challenge the existing business strategy, have a material impact on financial performance and dilute our competitive advantage.
• Geographic concentration risk: Concentration in a particular geography could hurt business growth in case of a geographical slowdown
• Shrinkage / Inventory Risk: Shrinkage in the retail business is defined as the loss in inventory through a combination of shop lifting, pilferage and errors in documentation and transaction processing that go unnoticed
• Employee retention: Our strategic goals are heavily dependent on the competencies and performance of our people. The high churn rate in the retail space is a key risk since demand for experienced personnel in modern retail will only increase in the near term and long term.
• Technology Risk: Failure to match IT capabilities, scalability and reliability in relation to business requirements will disrupt business continuity.
• Finance Risk: Inability to grow at competitive rates could impact business sustainability

Mitigation Strategies

• Multi-format click-and-mortar model to respond to changes in customer demand, manage product mix and pricing policy, and identify growth opportunities.
• 102 stores spread across 17 states and 89 cities with a total retail area of ~10.83 lac Sq. Ft.
• Regular monitoring of shrinkage and working with Store Operations and Supply Chain teams to monitor shrinkage levels. Improving inventory management processes and systems.
• Monitoring the labor market, providing competitive employee benefits, implementing an ESOP policy, and having a defined system for employee onboarding, training, and development.
• Engaging external experts, developing partnerships, and building in-house expertise in key IT solutions.
• Maintaining a net debt-equity ratio of (0.18) and a healthy cash balance.

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: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed