Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Employee Well-being

Environmental Achievements

• Installed Solar Power Plant at Silvassa Factory (115 KWP), generating 90,112 units and reducing greenhouse emission by 52 MT
• Eliminated usage of EPS (Thermocol) material for packing and started 100% usage of recyclable EPE and Corrugated Papers
• Installed Solar Power Plant at Raipur Factory (518 KWP), generating 5,20,000 units, effectively reducing greenhouse gas emission by 302 MT in FY 2020-21

Social Achievements

• Spent Rs. 49.18 Lakhs on CSR initiatives focusing on education, women empowerment, and healthcare for underprivileged sections
• Provided vocational training to underprivileged youth in welding skill development
• Sponsored food packets for underprivileged during COVID-19 lockdown

Governance Achievements

• Complied with all applicable Secretarial Standards (SS) issued by ICSI
• Established a Vigil Mechanism - cum - Whistle Blower Policy
• Complied with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacted domestic billing and exports
• Economic slowdown and restrictions due to COVID-19 pandemic resulted in lower sales for Ador Welding Academy Private Limited (AWAPL)
• Certain liquidated damages and project cost overrun due to delay in an EPC project

Mitigation Strategies

• Phased reopening of factories and offices with limited manpower
• AWAPL provided vocational training online through webinars
• Restated financial statements for comparative periods in accordance with Ind-AS 8

Supply Chain Management

Responsible Procurement

• Higher preference vendor rating for sustainable manufacturing processes
• Encouraging suppliers to follow BR initiatives

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Certifications: ISO 9001, ISO 14001, OHSAS 18001

Third-party Assurance: M/s. Walker Chandiok & Co. LLP

Sustainable Products & Innovation

• Inverter technology welding machines
• Engine driven welding machines
• Special Hard facing electrodes

Environmental Metrics

ESG Focus Areas

• Ethics, transparency and accountability
• Product Life Cycle Sustainability
• Employee Well-Being
• Stakeholder engagement
• Human rights
• Environment
• Policy advocacy
• Inclusive Growth and equitable Development
• Customer Value Creation

Environmental Achievements

• Set up Solar power Generation units at its Raipur and Silvassa plants, reducing Greenhouse Gas emissions by 272 Mt and 52 Mt respectively.
• Implemented Zero Liquid Discharge (ZLD) at all plants.

Social Achievements

• Regular training sessions for new inductees as well as existing employees on Code of Conduct, Health & Safety, prevention of Sexual Harassment, employee Well Being, Cyber Security, and Skill Upgradation.
• Ensured all statutory benefits are extended to contract workforce.

Governance Achievements

• Established a Board-level Stakeholders relationship Committee to examine and redress complaints from/by shareholders.
• Implemented an anti-corruption or anti-bribery policy.

Climate Goals & Targets

Environmental Challenges

• Conserving natural resources
• Changes in existing regulations/emerging regulations impacting sourcing of materials, emissions, waste generation, storage and use of material or quality of finished goods
• Handling Hazardous Material/Waste
• Product & plastic packaging (several states banning/restricting single-use plastic)
• Safety risks in manufacturing operations
• Labour unrest
• Reputation risks from bad publicity

Mitigation Strategies

• Investment in rooftop solar projects for captive consumption within the plants.
• Plant-wise plans/actions implemented for alternate sources of water (borewell, tanker water supply, effluent treatment plant water re-use, rainwater usage, achieving water neutrality).
• Proactively working on emerging regulations and implementing much ahead of statute.
• Adherence to standards pertaining to occupational Health and Safety, the Company’s environment, Health and Safety (‘EHS’) policy and highest operational standards for handling hazardous materials.
• Efforts to keep pace with changing regulations around plastic waste management.
• Adherence to safety standards, the Company’s EHS policy and highest operational standards for handling hazardous materials at plants.
• Implementing alternatives in the plants – productivity measure changed from norm based output to output/group based output in many plants; Knowledge sharing sessions on labour laws, situations based learnings, employee life cycle documentation, regular IR management and Contract Labour management; and physical, Mental and Financial Wellness sessions conducted on regular basis.
• Actively addressing product complaints; ensuring product delivery, as promised; Compliance with all regulatory norms; Strengthening corporate governance norms, including adherence to the code of conduct by all; Sign off for all product/Warranty promises to the customer. Active monitoring of voices on social media and having a crisis management plan ready.

Supply Chain Management

Responsible Procurement

• Supply Chain Management Sustainability policy (effective March 1, 2023), including Supplier Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: National Guidelines on Responsible Business Conduct (NGRBC)

Certifications: OHSAS, BIS, ISO 14001

Sustainable Products & Innovation

• IoT in Welding Machines
• Engine driven Welding Machines with higher fuel efficiency
• Special electrodes for special material

Environmental Metrics

ESG Focus Areas

• Education
• Women Empowerment
• Skill Development
• Healthcare
• Environmental Sustainability
• Energy Conservation
• Safety

Environmental Achievements

• Installed Solar Power Plants at Silvassa and Raipur factories, generating 1,28,603 and 4,36,562 units respectively in FY 2023-24, reducing greenhouse gas emission by 273.3 MT.
• Developed battery-operated E-Welder, minimizing carbon emissions.
• Designed paper-based packaging for welding equipment, reducing plastic and wood usage.

Social Achievements

• Refurbishment of girls' washroom at Advani Oerlikon Higher Secondary School, Raipur.
• Support for Vanvasi Kalyan Ashram, Ajit Foundation, U & I Trust, and Shiksha Foundation, focusing on education, women empowerment, and skill development.
• Lowest employee turnover in the last 10 years (excluding the pandemic year).

Governance Achievements

• Implemented Enterprise Risk Management (ERM) framework.
• Constituted a Risk Management Committee.
• Complied with all applicable Secretarial Standards (SS).

Climate Goals & Targets

Environmental Challenges

• Infrastructure challenges in India.
• Global competition in the manufacturing sector.
• Supply chain disruptions.
• Environmental sustainability concerns.
• High energy requirement and consequent high greenhouse gas (GHG) emissions.
• Water scarcity impacting business continuity and profitability.
• Air emissions contributing to local and regional emission concentrations.

Mitigation Strategies

• Focus on product mix and cost reduction.
• Diversification of supply chain.
• Investments in water management systems (ZLD and STP).
• Regular monitoring of emissions and adherence to industry best practices.
• ISO 14001 certification.
• Strict health and safety protocols and training sessions.
• Development of a comprehensive mitigation plan encompassing Scope 3 GHG emissions.

Supply Chain Management

Responsible Procurement

• Diversification of supply chain to reduce dependency on a single supplier.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS, National Guidelines on Responsible Business Conduct (NGRBC)

Certifications: ISO 14001, ISO 45001

Sustainable Products & Innovation

• Battery-operated E-Welder
• Paper-based packaging for welding equipment

Awards & Recognition

• Letter of appreciation from the Bureau of Indian Standards (BIS)