Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Working capital constraints and consequent financial stress which resulted in underutilization of capacities and plant shutdowns.
• Plant shutdown due to tight cash flows and non-availability of working capital limits.
• Operations at Kudithini works impacted where Metallurgical Coke facility is running partly on job work basis and partly for own production.

Mitigation Strategies

• Requested secured lenders for restructuring of debt.
• Implemented an Integrated Project involving forward and backward integration.
• Requested JLF to consider deep restructuring of the debt.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Governance Achievements

• Appointed Independent Woman Director on the Board of the Company w.e.f 14th February 2019.

Environmental Challenges

• Working capital constraints and consequent stress in the finances of the Company.
• Underutilization of capacities and plant shutdowns.
• Cash crunch and non-availability of working capital limits.
• Operations at ferrous division have been impacted and the plant was under shutdown since 12th June 2017.
• Operations at Kudithini works were impacted where Metallurgical Coke facility is running partly on job work basis and partly for own production.
• Non-fulfillment of mandatory norm of sufficient cash flows six months prior to and after the reference date for S4A scheme implementation.

Mitigation Strategies

• Implemented an Integrated Project involving forward improvement and backward integration.
• Requested secured lenders for restructuring of the debt.
• Entered into “OPERATION, MAINTANANCE & MANAGEMENT AGREEMENT” with JINDAL SAW Ltd.
• Promoters have offered to pledge their total shareholding to the secured lenders apart from offering some personal assets as a collateral security upon sanction of the restructuring plan.

Supply Chain Management

Climate-Related Risks & Opportunities