Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Employee well-being
• Community engagement

Environmental Achievements

• Implemented ISO 14001 Environment Management System
• Initiated plans to install Solar panels (dismantled due to fire incident)
• Reduced energy consumption through various initiatives (specifics not quantified)

Social Achievements

• Introduced Sirca Parivar App for employee performance tracking
• Provided safety & skill up-gradation training to 100% of employees
• CSR contributions of ₹63,60,000 for women skill development and senior citizen welfare

Governance Achievements

• Strong governance framework with a diverse Board of Directors
• Implemented a Vigil Mechanism/Whistle Blower Policy
• Adopted a comprehensive policy on nomination and remuneration of Directors and Key Managerial Personnel

Climate Goals & Targets

Environmental Challenges

• Covid-19 impact in Q1 FY22
• Cost inflation due to increased raw material prices
• Supply chain disruptions due to global events
• Travel constraints impacting product introductions

Mitigation Strategies

• Recovered strongly from Q2 onwards
• Implemented price hikes gradually
• Maintained increased buffer stockpiles
• Implemented channel financing for dealers
• Introduced new products and brands

Supply Chain Management

Responsible Procurement

• Engaging with local suppliers for sustainable sourcing
• Supporting local vendors through education and process improvement

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: National Voluntary Guidelines (NVG) on Social, Environmental and Economic Responsibilities of Business

Certifications: ISO 9001, ISO 14001, ISO 45001

Sustainable Products & Innovation

• Hand Sanitizers
• Anti-bacterial Emulsion and Anti-viral Emulsion
• Water based wood coating

Environmental Metrics

ESG Focus Areas

• Talent Management
• Training & Skill Development
• Health & Wellness of employees
• Environmental Sustainability
• Governance

Environmental Achievements

• Implemented Zero Liquid Discharge in all manufacturing plants
• Improved automation in plant leading to reduction in energy consumption
• Utilized advanced grinding machines resulting in reduced cycle time
• Implemented advanced safety systems leading to reduction in incidents & accidents

Social Achievements

• Provided health insurance, accident insurance, and maternity benefits to employees
• Conducted training programs on health & safety measures and skill upgradation for employees and workers
• Maintained 100% return to work rate for permanent employees and workers who took parental leave

Governance Achievements

• Ensured highest level of corporate governance and compliance with statutory authorities
• Implemented anti-bribery and anti-corruption policy

Climate Goals & Targets

Environmental Challenges

• Risk of failure in talent management impacting growth and service provision
• Need for employee skill development to keep pace with evolving technology
• Maintaining environmental sustainability in view of global warming
• Risk of adverse health and wellness conditions impacting employee health, morale, and productivity

Mitigation Strategies

• Following industry best human resource practices for talent acquisition, development, deployment, and retention
• Providing technical and personality development trainings for employees
• Offering safe working conditions and conducting health and safety awareness campaigns
• Preventing pollution, reducing waste, and minimizing resource consumption, complying with applicable legal requirements

Supply Chain Management

Responsible Procurement

• Developed supplier intimacy and goodwill
• Engaged with local suppliers for sustainable sourcing
• Took adequate steps for safety during transportation

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Anti-bacterial Emulsion
• Anti-viral Emulsion
• Water based wood coating

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Employee Well-being
• Corporate Governance

Environmental Achievements

• Implemented Zero Liquid Discharge facilities in all manufacturing plants.
• Initiatives to optimize water consumption and reduce wastewater generation through reuse and recycle schemes.

Social Achievements

• Provided health insurance, accident insurance, and other employee welfare measures.
• Engaged with employees through various platforms to strengthen employee stickiness.

Governance Achievements

• Implemented an effective internal control system.
• Established a robust risk management framework with Board oversight.

Climate Goals & Targets

Environmental Challenges

• Fluctuations in raw material prices.
• Regulatory changes impacting sourcing of materials, emissions, waste generation.
• Competition (existing and new), brand, growth and profitability, technology, and service strategy.
• Climate change impacting operations and reputation.
• Commodity risks due to crude oil price volatility.
• Credit risk from customers' payment delays.
• Supply chain disruptions due to unforeseen events.
• Evolving regulatory landscape.
• Safety risks in manufacturing operations.
• Fraud risks and hesitation to use whistleblower policy.
• Material availability and inflation.
• Information security risks due to cyberattacks.

Mitigation Strategies

• Advance planning and hedging against currency fluctuations and market volatility.
• Continuous monitoring of emerging regulations and compliance.
• Engagement with suppliers for better mitigation strategies.
• Periodic risk assessments and closure of action plans.
• Comprehensive Emergency Response Plan (ERP).
• Behaviour Based Safety journey.
• Awareness sessions to encourage whistleblower policy usage.
• Strengthening fraud detection mechanisms and periodic Fraud Risk Assessments (FRA).
• Detailed review of global capacity and demand for critical materials.
• Developing environment-friendly products and efficient resource use.
• Collaboration with supply chain partners and customers to reduce carbon footprint.
• Streamlining receivables management systems for timely collections.
• Continuous protection of confidential information across the IT landscape.
• Investment in contemporary IT tools for data protection.
• Periodic audits to ensure adherence to processes.

Supply Chain Management

Supplier Audits: Quarterly

Responsible Procurement

• Sustainable sourcing from manufacturers with formal sustainability programmes (more than 60%).
• Engagement with local suppliers.
• Safety measures during transportation.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Certifications: ISO 9001, ISO 14001, ISO 45001

Third-party Assurance: Rajesh Kukreja & Associates, Chartered Accountants

Sustainable Products & Innovation

• Anti-bacterial Emulsion
• Anti-viral Emulsion
• Water-based wood coating