Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Projects for setting up of 4th line of Polystyrene and expansion of Expandable Polystyrene at both plant locations are marginally delayed due to late arrival of some imported equipment.

Mitigation Strategies

• These projects, barring unforeseen circumstances, are now scheduled to be mechanically completed by August 2022.

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

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Employee Well-being
• Community Development
• Occupational Health and Safety
• Waste Management
• Water Stewardship
• Energy Management
• Supply Chain Management
• Human Rights
• Business Ethics
• Data Privacy and Cybersecurity

Environmental Achievements

• Energy conservation program resulting in savings of 744720 KWH
• Installed Zero Liquid Discharge (ZLD) system at both plants
• Used 72% renewable energy at Manali plant and 10% at Amdoshi plant
• Collaborated with ICPE for EPS waste recycling awareness and collection
• Used large tank lorries and trucks to reduce carbon emissions

Social Achievements

• Maintained cordial industrial relations
• Provided training programs on career development, POSH, and OHS
• Implemented measures for employee well-being (health insurance, accident benefits)
• Zero safety incidents reported

Governance Achievements

• Complied with SEBI (LODR) Regulations and Companies Act, 2013
• Established a robust risk management framework
• Implemented a whistleblower policy
• Adopted a POSH policy

Climate Goals & Targets

Environmental Challenges

• Shrinking global delta between raw material and product prices
• Inability to meet domestic demand due to delays in expansion projects
• Competition from imports
• Ban on single-use plastics
• High liquid bulk freight rates
• Potential risks from foreign exchange volatility
• Compliance with BIS standards on Styrene Monomer imports

Mitigation Strategies

• Expanded PS and EPS capacities are now fully operational
• Augmenting and rationalizing regional warehousing capacities
• Developing new grades of PS and EPS to meet changing customer requirements
• Entering into annual procurement contracts for Styrene Monomer
• Hedging part of open foreign exchange exposure
• Implementing robust risk management framework
• Implementing various GHG reduction initiatives

Supply Chain Management

Responsible Procurement

• Sustainable sourcing practices

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: BRSR

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, AEO

Awards & Recognition

• National Safety Council Maharashtra Chapter - Maharashtra Safety Awards 2021
• National Safety Council - Suraksha Puraskar (bronze trophy) – 2022
• 22nd Annual Greentech Environment Award 2022
• Greentech International EHS Award 2023 (Best Practices and Health & Safety Categories)
• Certificate of Appreciation at national level for 2022 from National Safety Council

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Installed Zero Liquid Discharge (ZLD) system at both manufacturing locations, significantly reducing fresh water intake and effluent discharge.
• Used 61% renewable energy at Manali plant and implemented a JV for 12.5 MW solar energy at Amdoshi plant, aiming for over 50% renewable energy usage at Amdoshi.
• Collected and recycled over 40,000 MT of post-consumer EPS waste, aiming to recycle all EPS waste in the country.
• Achieved energy savings of 203390 KWH through energy conservation programs.

Social Achievements

• Maintained cordial industrial relations at all units.
• Completed 8568 accident-free days at Amdoshi plant (22.45 million man-hours) and 6139 accident-free days at Manali plant (3.9 million man-hours).
• Received various safety awards at both plants.

Governance Achievements

• Complied with all applicable laws and regulations.
• Established a robust HSE system at both plants, maintaining ISO 14001:2015 and ISO 45001:2018 certifications.
• Implemented a Whistle Blower/Vigil Mechanism Policy and a POSH Policy.

Climate Goals & Targets

Environmental Challenges

• Lower prices of Styrene Monomer (main raw material) impacting revenue despite increased sales volume.
• Weaker than expected growth in China and Europe impacting global margins.
• Red Sea crisis impacting export volumes and margins in the second half of the year.
• Floods near Manali plant impacting operations for two weeks.
• Increased competition in EPS market with new units starting operations.

Mitigation Strategies

• Developed certain PS grades to counter low-priced imports.
• Increased exports of PS (84% increase).
• Exploring new markets and customers.
• Met customer requirements from Amdoshi plant during Manali plant closure.
• Working to retain market share in EPS market through quality and service.

Supply Chain Management

Responsible Procurement

• Sustainable sourcing practices (90% of raw materials sourced sustainably)

Climate-Related Risks & Opportunities

Opportunities

• Use of renewable energy

Reporting Standards

Frameworks Used: BRSR

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

Awards & Recognition

• Various safety awards at Amdoshi and Manali plants