Climate Change Data

Environmental Metrics

ESG Focus Areas

• Social Responsibility
• Sustainability

Social Achievements

• Social Responsibility and Sustainability efforts continue to win us laurels

Governance Achievements

• adopted the Code of Conduct which has set out the systems, processes and policy conforming to international standards

Climate Goals & Targets

Environmental Challenges

• steep increase in the steel prices and other operating costs operating margin declined
• Any change in the government policy or its budgetary allocation or sluggish pace of policy rollout and stringent regulatory measures towards the infrastructure sector
• Increasing trade tensions and a general air of protectionism globally
• The emergence of foreign construction equipment manufacturers, including Chinese companies
• Significant increase in raw material prices mainly steel prices, hardening of fuel prices and weak currency
• There is no consistency in the demand owing to the fluctuations in the market

Mitigation Strategies

• increased the prices of its products
• taken steps to mitigate the effects of increasing cost and is working towards increasing the margins
• focused on bringing down cost & enhancing operational efficiencies to achieve profitable growth
• focused on reducing the working capital levels by emphasis on speedy customer collections and reducing inventory levels

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Dream Companies to Work for - Construction Sector
• Appreciation Certificate for Commendable Work in Employee Engagement Strategy - HR Association of India
• Best Resourcing Strategy Award - HR Association of India
• North India Best Employer Brand Award 13th Employer Branding Awards 2018
• India’s Top Challengers Award - 16th Construction World Global Awards-2018
• Best Seller in Mobile Cranes Category Award - 6th Equipment India-2018

Environmental Metrics

ESG Focus Areas

• Sustainability
• Health and Safety
• Employee Well-being
• Environmental Protection
• Supply Chain Management

Environmental Achievements

• Installed and commissioned PV Solar Power plant of 1795.9 KWP capacities across various roofs and parking space.
• Replacement of all lights with LED across all plants and office area to save energy.
• Paint shop oven of the Company running through diesel has been replaced by PNG connections.
• Installation of rain water harvesting system in the Plant areas to increase in underground water level, Water reused for Gardening.

Social Achievements

• Zero production loss in the FY2021-22
• Sustained efforts towards building a transformational work culture resulted in a collaborative, healthy and productive work environment.
• Various medical check-up camps organized.
• Contributed for the COVID-19 affected people.

Governance Achievements

• Formalized clearly defined systems to manage its risks within acceptable limits by using risk mitigating techniques and have framed policies for timely addressing key business challenges and leveraging of business opportunities.
• Adopted a Code of Conduct which has set out the systems, processes and policy conforming to international standards.
• Constituted a Risk Management Committee
• Formulated the Risk Management Policy

Climate Goals & Targets

Environmental Challenges

• Economic slowdown
• Commodity inflation
• Uncertainties in real estate, infrastructure development, and residential construction sectors
• Competition
• Supply chain disruption and sourcing challenges
• Strict regulations and environmental concerns
• Covid-19 pandemic
• Russia-Ukraine war
• Commodity price surge
• Supply side constraints
• Talent Management (Succession planning & Employee Retention)
• Monsoon variations

Mitigation Strategies

• Commodity Risk Management, cost re-engineering and value engineering activities
• Cost optimisation projects to bring down fixed costs and optimise variable costs, development of alternate suppliers and enhanced focus on localization and robust process to conduct financial due diligence of all suppliers before they are onboarded
• Investing in R&D and upgrading products continuously
• Prudent hedging strategies and appropriate mix of financing
• Investing in new product development, technology upgradations and increasing channel reach, while focussing on delivering customer centric products, services and brand building
• Continuous monitoring of the evolving regulations, impact assessment, implementation of statutory compliance, internal audit and external legal review
• Developing talent pool through learning and career development programmes, Identification of critical positions with mapping of successors and their readiness, Monitoring of retention for key/critical roles and high performers, analyse root cause for attrition with action plans
• Going into FY23, the Indian Meteorological Department (IMD) in its first long range forecast for the monsoon season predicted SW Monsoon (June to September) to be normal at 99% of the LPA (Long Period Average).

Supply Chain Management

Responsible Procurement

• Encouraging suppliers towards Green Supply Chain
• Directing suppliers to avoid banned substances in component manufacturing
• Regular assessment and guiding improvement areas in machine requirements, infrastructure, quality system, process improvement, transportation and packaging
• Periodic recognition to best suppliers in terms of cost, quality and delivery

Climate-Related Risks & Opportunities

Opportunities

• Electric & Hybrid (Smart vehicles)

Reporting Standards

Frameworks Used: Ind AS

Certifications: ISO 14001, ISO 45001

Sustainable Products & Innovation

• Tractors with BS-IV engines
• Cranes and construction equipment with BS-IV engines

Awards & Recognition

• Best Company of the Year (Manufacturing)
• Most Trusted Construction Equipment Manufacturer of the Year
• Best Mobile Crane Brand 2021
• Innovative New Equipment Launched 2021
• Award for Managing Health at Work 2021
• Market Leadership Award 2021
• Outstanding Contribution in the Field of Logistics & Supply Chain Sector 2021
• Best Company in Cranes & Tower Cranes 2021
• Best Innovative Product of the Year 2021
• Best Seller in Mobile Cranes 2021
• Innovation of the Year 2021
• India’s Top Challengers 2021
• Transformative Trailblazing Leader – Mr Vijay Agarwal

Environmental Metrics

Social Achievements

• Zero production loss in FY2022-23, creating a collaborative, healthy and productive work environment.

Climate Goals & Targets

Environmental Challenges

• Fluctuations in commodity prices
• Supply chain disruptions
• Information security and IT systems vulnerabilities
• Distribution channel, retailer network and customer service delivery challenges
• Global economic and geopolitical environment uncertainties
• Occupational, health and safety risks
• Technological innovation needs
• Financial risks (foreign exchange rate fluctuation and interest rate changes)
• Competitive intensity
• Regulatory risks
• Talent management challenges

Mitigation Strategies

• Commodity Risk Management, cost re-engineering and value engineering
• Sustainable low cost of production, operational excellence and securing key raw material linkage, development of alternate suppliers and enhanced focus on localisation
• IT center, Enterprise Resource Planning (ERP), Data Loss Prevention strategy, strong IT security measures, policies and procedures for cyber security
• Improving dealer profitability and financial health, simplifying online channels, enhancing retailer systems and tools
• Closely monitoring and risk assessing global developments, implementing mitigation plans, maintaining a balanced sales profile across key sales regions
• Health and safety guidelines, safety training, mandatory usage of safety gadgets, regular safety meetings
• Investing in R&D and continuously upgrading products
• Prudent hedging strategies and appropriate mix of financing
• Investing in new product development, technology upgradations and increasing channel reach, focusing on customer-centric products, services and brand building
• Continuous monitoring of evolving regulations, impact assessment, statutory compliance, internal audit and external legal review, liaisoning with regulatory bodies
• Developing talent pool through learning and career development programmes, identifying critical positions with mapping of successors, monitoring retention for key roles

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Electric BS-V cranes & engines

Awards & Recognition

• Transformative Trailblazing Leader award to Mr. Vijay Agarwal
• Innovative Construction Equipment Award
• Fortune India Next 500 Companies ranking
• India’s 20 Most Impactful Power Brands
• Power Brands India’s Most Dynamic Leader award to Mr. Vijay Agarwal
• Bestseller in Mobile Cranes Category Award
• Person of the Year Award to Mr. Sorab Agarwal
• Best in Sales – Pick & Carry Cranes Award

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Installed and commissioned PV Solar Power plant of 2478.9 KWP capacities across various roofs and parking space.
• Replaced paint shop oven running on diesel with PNG connections.
• Reduced energy consumption by switching off lights and fans during tea breaks and lunch hours.

Social Achievements

• Various initiatives to make the workplace more engaging, collaborative, and fulfilling.
• Empowering employees with user-friendly tools and a digitally integrated infrastructure.
• Comprehensive diversity, equity, and inclusion policy.

Governance Achievements

• Formalized systems to manage risks within acceptable limits.
• Robust internal financial control system.
• Whistleblower policy and vigil mechanism.

Climate Goals & Targets

Environmental Challenges

• Distribution channels, retailer network and customer service delivery.
• Supply chain disruptions.
• Fluctuations in commodity prices.
• Information security and IT systems.
• Technology innovation.
• Global economic and geopolitical environment.
• Financial risk.
• Occupational, Health and Safety Risks in Operations.
• Competitive Intensity.
• Talent Management (Succession Planning & Employee Retention).
• Regulatory Risk.

Mitigation Strategies

• Significant steps taken to improve dealer profitability and financial health; online channels simplified; retailer systems and tools enhanced.
• Strong management team working towards sustainable low cost of production, operational excellence and securing key raw material linkage; continuous focus on cost optimisation projects; development of alternate suppliers and enhanced focus on localisation; facilitating suppliers’ access to attractive financing schemes.
• Mitigating inflationary impact through ‘Commodity Risk Management’, cost re-engineering and value engineering activities; leveraging price falls in commodities.
• IT center and Enterprise Resource Planning (ERP); Data Loss Prevention strategy; strong IT security measures; policies and procedures to ensure integrity of cyber security interventions.
• Investing in R&D and continuously upgrading products.
• Closely monitoring and risk assessing global developments; implementing mitigation plans; maintaining a balanced sales profile across key sales regions; diverse global customer base.
• Prudent hedging strategies and appropriate mix of financing.
• Health and safety guidelines ensuring compliance with local and international laws, regulations and standards; safety training; mandatory usage of safety gadgets; regular safety meetings.
• Investing in new product development, technology upgradations and increasing channel reach; focusing on delivering customer centric products, services and brand building.
• Developing talent pool through learning and career development programmes; identification of critical positions with mapping of successors and their readiness; monitoring retention for key/critical roles and high performers; analysing root cause for attrition with action plans.
• Continuous monitoring of evolving regulations; impact assessment; implementation of statutory compliance; internal audit and external legal review; liaisoning with regulatory bodies and industry associations.

Supply Chain Management

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Electric CEV-5 Cranes and Engines

Awards & Recognition

• Bestseller in Tower Cranes at 11th Annual Equipment India Awards
• Top Challengers of 2022-23 at 21st Construction World Global Awards
• Innovative Design Award to ACE AP 21A Articulating Boom Lift
• Innovative Design Award to ACE F150 EV NextGen Electric Crane
• Hurun India Value Creator of the Year 2023 Award
• India’s Leading Listed ESG Entity in ‘ESG Champions of India’