Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability
• Social Well-being
• Governance

Environmental Achievements

• Reduced tailpipe CO2 emissions by approximately 59,725 tonnes during the year (113,325 tonnes cumulatively).

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Cut-throat competition in GCC contracts pricing.
• International conflicts impacting supply of raw materials and components.
• Increased costs and supply chain disruptions due to the aftermath of Covid-19 and the Russia-Ukraine conflict.
• Competition from low-quality products from the unorganized sector.

Mitigation Strategies

• Evaluating opportunities for production price reduction without compromising quality.
• Exploring technological advancements with lower costs.
• Tying up with more supply partners to address raw material shortages.
• Skilling workforce to reduce production errors.
• Evaluating opportunities for cost-effective production with minimal manpower intervention and AI-based manufacturing.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Responsible sourcing policy covering anti-bribery, child labor, worker safety.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Transitioning to renewable energy; adopting energy-efficient practices.

Reporting Standards

Frameworks Used: BRSR

Certifications: IATF 16949:2016, ISO 9001:2015, ISO 45001, ISO 14001

Third-party Assurance: Sarath & Associates, Chartered Accountants

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Electric buses
• Electric tippers
• Hydrogen fuel cell buses

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Governance
• Employee Well-being
• Supply Chain Responsibility
• Occupational Health & Safety

Environmental Achievements

• Reduced tailpipe CO2 emissions by approximately 105,835 tonnes during the year (219,160 tonnes cumulatively)
• Invested 38% of capital expenditure to improve environmental and social impacts

Social Achievements

• Zero safety-related incidents for three consecutive years
• Maintained good industrial relations
• Implemented employee well-being initiatives

Governance Achievements

• Complied with all applicable Secretarial Standards
• Implemented robust Whistleblower Policy
• Adopted Dividend Distribution Policy

Climate Goals & Targets

Environmental Challenges

• Price competition in GCC contracts
• High upfront costs of electric buses
• International conflicts affecting raw material supply
• Intensified competition
• Skilled workforce requirement for electric bus maintenance
• Raw material price volatility and supply chain disruptions for insulators
• Competition from unorganized players in the insulator market

Mitigation Strategies

• R&D for cost reduction and local ecosystem development
• Developing alternative sourcing strategies
• Innovation, quality, and customer-centric solutions
• Training programs and digital tools for maintenance
• Developing alternate vendors and alternative materials
• Strengthening product quality norms and educating customers

Supply Chain Management

Responsible Procurement

• Anti-bribery measures
• Child labor prevention
• Worker safety standards
• Responsible Sourcing Policy

Climate-Related Risks & Opportunities

Opportunities

• Reducing GHG emissions
• Optimizing costs
• Attracting investors
• Reducing climate-related risks

Reporting Standards

Frameworks Used: BRSR

Certifications: IATF 16949:2016, ISO 9001:2015, ISO 45001, ISO 14001

Sustainable Products & Innovation

• Electric buses
• Electric tippers