Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health
• Environment
• Community Investment
• Safety

Environmental Achievements

• Tree plantation programs conducted, planting 5,000 trees.
• Contribution to Swachh Bharat initiative.

Social Achievements

• Health eye camps conducted, screening 6,480 students and distributing 550 glasses.
• Public eye and medical camps conducted, benefiting 210 and 223 people respectively.
• Donation of Rs. 5 lakhs to Sankara Eye Hospitals.
• Construction and inauguration of a maternity ward at the Primary Health Center, Valavadi.

Governance Achievements

• Monthly meetings with union representatives and periodical interactions with operators to improve industrial relations.
• Implementation of an Anti-Sexual Harassment Policy.

Climate Goals & Targets

Environmental Challenges

• Overall company sales decreased by 3% due to phasing out of Speed Limiting Devices.
• Decrease in sales of PT Pricol Surya Indonesia due to phasing out of vehicle models.
• Loss incurred by Pricol Espana Sociedad Limitada and Pricol do Brasil Componentes Automotivos LtdA.
• Drop in revenues at Pricol Wiping Systems Mexico due to gradual phase out of projects.

Mitigation Strategies

• Investment in new manufacturing plants in Hosur and Sricity.
• Investment in additional product testing equipment.
• Implementation of new technologies in assembly lines to improve productivity and quality.
• Acquisition of Wiping Systems business to expand manufacturing footprint and product portfolio.
• Restructuring of Pricol do Brasil's manufacturing facility to reduce costs.
• Securing additional orders for Pricol Wiping Systems India Limited.

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Oxygen sensor
• Electric Coolant Pump
• Electric Vacuum Pump
• Electric Coolant Valve
• Variable Flow Oil Pump
• Variable Flow Water Pump
• Solenoid Valve
• Electric Oil Pump

Environmental Metrics

ESG Focus Areas

• Sustainability

Environmental Achievements

• Installed 2.62 Megawatt of rooftop solar power, generating 37 lakh units per year
• Implemented 1.9 MW capacity windmill producing 11 lakh power units

Social Achievements

• Inaugurated a Knowledge Centre with a library building in Tirupur district, Tamil Nadu
• Repairs & Renovation of Government School building in Tirupur District, Tamil Nadu
• Extended support to the medical fraternity and frontline workers during the COVID-19 pandemic

Governance Achievements

• Improved credit rating from ICRA and India Ratings and Research
• Strengthened internal control systems
• Complied with corporate governance requirements specified in Regulation 17 to 27 and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on the economy and auto sector
• Supply chain disruptions
• Increased raw material costs (steel, copper, aluminum)
• Acute labor shortage due to migrant workers returning to their native places
• Shortage of imported electronic parts from China

Mitigation Strategies

• Salary cuts across all levels (Chairman and Managing Director did not receive salary from April 1, 2020 to September 30, 2020)
• Cost reduction initiatives
• Efficient management of supply and logistics chain
• Maintaining optimum inventory levels
• Negotiating with customers for compensation for increased prices
• Discontinuing low-value and low-volume products
• Continued focus on R&D and launched new products (approximately 40% of revenue from new products)

Supply Chain Management

Responsible Procurement

• Supplier sustainability requirements
• Process and system audits at suppliers

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Fuel Pump Module

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Employee Well-being
• Sustainability

Environmental Achievements

• Reached 17% renewable energy share in electricity consumption, with a roadmap to 33% by Oct'22 and 50% by Mar'23
• Renewable energy generation of 33.14 lakh units in 2021-22 from rooftop installations

Social Achievements

• Initiated companywide vaccination drive for employees and families
• Celebrated various occasions and festivals with employees and their families
• Contributed INR 1 crore to Chief Minister's Relief Fund

Governance Achievements

• Established a Risk Management Committee
• Implemented a Risk Management Policy
• Improved credit rating from India Ratings and Research

Climate Goals & Targets

Environmental Challenges

• Increase in raw material costs and semiconductor prices
• Supply chain disruptions
• Restricted supplies of critical raw materials
• Geopolitical tensions
• Inflationary pressures
• Semiconductor shortage
• Continued chip shortage and supply chain disruptions

Mitigation Strategies

• Gearing up internally to manoeuvre challenges
• Focus on meeting customer demands and cost control
• Strengthening balance sheet
• Upholding ethical and responsible business practices
• Strategic partnerships to enhance solutions and product portfolio (e.g., Sibros, Candera)

Supply Chain Management

Responsible Procurement

• Focus on developing local suppliers and improving their capacity and capability

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Electric Coolant Pump

Awards & Recognition

• Gold Award in 11th Edition of Productivity Conclave 2022
• Gold & Silver Award in 6th Chapter Convention on Quality Concepts