Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced carbon footprint across the value chain by increasing renewable energy share to 86% in 2021 (mostly wind power), with plans to install a 100 kW solar rooftop plant.
• Operates a Zero Liquid Discharge effluent treatment plant.

Social Achievements

• Employs close to 13006 employees on a full-time basis.
• Provides monetary and non-monetary benefits (ESI, PF, bonus, gratuity, accommodation, subsidized food, transport, etc.).
• Conducts training and development programs for employees.
• Prioritizes employee health and safety with programs and initiatives.
• Engages in community and social work through CSR initiatives (women empowerment, education, rural development, etc.).

Governance Achievements

• Maintains high standards of corporate governance practices.
• Constituted various Board Committees (Audit, CSR, Nomination & Remuneration, Risk Management, Stakeholder Relationship).

Climate Goals & Targets

Environmental Challenges

• Increasing cost of raw materials (cotton, dyes, chemicals, etc.) due to the pandemic.
• Increase in labor costs due to inflation.
• Competition from neighboring countries with preferential trade agreements.
• Withdrawal of government grants and subsidies.
• Pandemic effects and uncertainties.

Mitigation Strategies

• Cost rationalization initiatives.
• Investment in infrastructure and skilled labor force.
• Development of new business verticals.
• Contingency plans for dynamic situations.
• Consolidation on performing stores in the retail division.

Supply Chain Management

Responsible Procurement

• Sustainable sourcing procedures considering resource efficiency, product quality, environmental impact, etc.

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• 81% of the company’s power consumption is achieved by wind mill power.
• The total share of renewable energy was 80% in 2022 through wind power generation.

Social Achievements

• Free healthcare facilities provided to more than 3500 people.
• Oxygen Concentrators, thermometers, Oximeters, triple layer face masks, PPE Kits, Ventilator machines along with Medical and Surgical Aid was provided to the needy people in our area.
• Tree plantation: More than 30,000 saplings were distributed.
• Education and Skill Development: Providing training and recruitment programmes.
• Gender Equality: Awareness sessions were organized on ‘Equal Pay for Equal Work’.

Governance Achievements

• Maintaining a high standard of corporate governance practices.
• The Board is committed to practicing the highest level of corporate governance across all our business functions.

Climate Goals & Targets

Environmental Challenges

• Increase in Cost of Raw materials: Cotton prices are increasing.
• Increase in Labour Cost: Due to high inflationary pressure, the cost of labour has gone up considerably.
• Fluctuations in the foreign currency: Due to the global scenario, the foreign currencies are very volatile.
• Competition from neighbouring countries: India’s competitiveness in the global apparel business is always challenged by other countries.

Mitigation Strategies

• Strategies implemented to improve the capacities is yielding better results.
• Our strategy to increase the capacity by having double shift will also start yielding results in upcoming quarters.
• Consolidated the non-performing stores and have reduced the overhead considerably.
• Improving the supplier base.

Supply Chain Management

Responsible Procurement

• sustainable, resource efficiency, product quality, environment impact

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Energy Management
• Water Use and Management
• Health and Safety
• Human Rights
• Environmental Protection

Environmental Achievements

• Minimized carbon pollution by using renewable energy from windmills and solar energy.
• 99.1% water recovered and reused as process water through a Chemical-free Biological Oxidation process with ultrafiltration, reverse osmosis, multiple-effect evaporation, and thin-film drying.
• 100% of plastic waste, including packaging, sold for recycling.

Social Achievements

• High importance placed on employee safety, aiming for smooth operations and using digitalization and automation to enhance safety governance.
• Continuous focus on behavioral, process, contractors, and transport safety.
• 100% of plants and offices assessed for health and safety practices and working conditions.

Governance Achievements

• Zero tolerance for bribery and corruption; high ethical conduct standards.
• Risk Management Committee monitors and approves risk management and sustainability framework, sets climate change and sustainability strategy and targets, reviews progress regularly.
• Board and relevant Committees briefed about stakeholder interactions and implemented actions.

Climate Goals & Targets

Environmental Challenges

• Health and Safety risks

Mitigation Strategies

• Continuous focus on behavioral, process, contractors, and transport safety.
• Digitalization and automation to enhance safety governance at all levels.
• Systematic approach for monitoring all third-party service providers on stringent safety criteria.

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• 42% of annual spend sourced from MSMEs/small producers in FY2023, 36% in FY2022
• 50% of annual spend sourced locally/indigenously in FY2023, 53% in FY2022

Climate-Related Risks & Opportunities

Opportunities

• Reducing CO2 emissions through renewable energy and alternative fuel sources.

Environmental Metrics

ESG Focus Areas

• Energy Management
• Water Use and Management
• Health and Safety
• Sourcing of Sustainable Raw material
• Human Rights
• Environmental Protection

Environmental Achievements

• 98% of annual cotton procurement sourced sustainably
• 100% of plastics waste including packing material are sold for recycling
• Overall 99.1 % water recovered and reused as process water.
• 82% of total power consumption from renewable sources (windmills & solar panels)

Social Achievements

• Various well-being measures for employees and workers (health insurance, accident insurance, maternity benefits etc.)
• 100% of plants assessed for health and safety practices and working conditions
• Grievance redressal mechanisms in place for employees and workers

Governance Achievements

• Anti-corruption and anti-bribery policy in place
• Risk Management Committee monitors and approves risk management and sustainability framework

Climate Goals & Targets

Environmental Challenges

• High price fluctuations and stiff price competition for sustainable raw materials (cotton)
• Improving the stress-free work environment

Mitigation Strategies

• Dedicated cotton procurement team monitors price and availability
• Digitalization and automation to enhance safety governance
• Frequent refreshment programs offered by the company

Supply Chain Management

Supplier Audits: 100% of value chain partners assessed for health and safety practices and working conditions

Responsible Procurement

• 98% of annual cotton procurement sourced sustainably

Climate-Related Risks & Opportunities

Opportunities

• Renewable energy sourcing