Climate Change Data

Environmental Metrics

Social Achievements

• Launched ‘Irasva’ brand in India through a joint venture with Bennett, Coleman and Company Limited.

Governance Achievements

• Became a certified member of the Responsible Jewellery Council (RJC).

Climate Goals & Targets

Environmental Challenges

• US and Middle East markets are competitively challenging.
• The gems and jewellery sector in India has been impacted by gross capital mismanagement and highly leveraged balance sheets.
• US dollar fluctuations impact profitability.
• Price fluctuation and availability of diamonds and other gemstones affect gross profit margins.
• Growing trade war between US and China poses a threat.

Mitigation Strategies

• Focus on licensed brands and own brand ‘Irasva’ to expand margins and improve profitability.
• Disciplined approach based on prudent capital allocation and efficient working capital management.
• Successful acquisitions realizing synergistic gains.
• Continuous efforts in energy conservation.
• Investment in R&D to drive product innovation.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Responsible Jewellery Council (RJC)

Awards & Recognition

• GJEPC Award for outstanding Export Performance under the category “Studded Precious Metal Jewellery Exports”, in 2017.
• GJEPC Award for topping Export Performance under the category “Studded Precious Metal Jewellery Exports”, in 2016.
• Accorded with membership of Responsible Jewellery Council (RJC), in 2016.
• GJEPC Award for outstanding Export Performance under the category “Studded Precious Metal Jewellery Exports”, in 2015.
• GJEPC Award for outstanding Export Performance under the category “Studded Precious Metal Jewellery Exports”, in 2012.
• GJEPC Award for topping the Export Performance under the category “Studded Precious Metal Jewellery Exports from EPZ/ EOU Complexes” in 2011.
• Emerging India Awards 2009.
• GJEPC Award for being the largest exporter of Studded Precious Metal Jewellery in 2008.
• Wal-Mart’s ‘International Supplier of the Year’ Award, in 2004.
• SEEPZ-SEZ Star 2000-2001 Award.

Environmental Metrics

ESG Focus Areas

• Responsible Jewellery Council (RJC) Membership
• Corporate Social Responsibility (CSR)
• Ethical Sourcing
• Employee Well-being
• Environmental Sustainability

Environmental Achievements

• Energy conservation efforts through energy-saving devices (Air Curtains, LEDs)
• Water conservation initiatives including rainwater harvesting
• 100% recycling of products and waste

Social Achievements

• Launched 'IRASVA' brand in India, achieving break-even in the initial period
• Signed an agreement with Lao Feng Xiang (LFX) to expand sales in China
• Launched 'Made For You' brand in the lab-grown diamonds category
• Launched Enchanted Disney Fine Jewelry Direct-to-Consumer website

Governance Achievements

• RJC certified member, committed to responsible business practices
• Robust internal control systems and internal audit function
• Compliance with SEBI (LODR) Regulations, 2015 and Companies Act, 2013

Climate Goals & Targets

Environmental Challenges

• Global economic slowdown and geopolitical volatility
• High gold prices and supply chain disruptions due to COVID-19 pandemic
• Muted revenue growth due to discontinuation of low-margin products
• Lockdown in India impacting production and revenues

Mitigation Strategies

• Stringent measures to navigate the COVID-19 pandemic
• Focus on high-margin branded jewellery business
• Expansion of e-commerce platforms for direct-to-consumer sales
• Prudent debt/equity ratio and inventory control

Supply Chain Management

Responsible Procurement

• Sustainable sourcing practices
• RGL Code of Conduct for suppliers
• Support for local small and medium-sized suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SEBI LODR Regulations, 2015, National Voluntary Guidelines (NVG)

Certifications: Responsible Jewellery Council (RJC)

Sustainable Products & Innovation

• Made For You (lab-grown diamonds)

Awards & Recognition

• GJEPC Award for being the largest exporter of Studded Precious Metal Jewellery (2018)
• GJEPC Award for outstanding Export Performance (2017, 2016, 2015, 2012, 2011)
• Emerging India Awards 2009
• Wal-Mart’s ‘International Supplier of the Year’ Award (2004)

Environmental Metrics

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Medical, Health Care and Social Welfare
• Educational
• Humanitarian
• Environmental, Animal Welfare, Cultural and Religious

Environmental Achievements

• In 2022-23, more than 57% of our power consumption was sourced from solar power plants. In 2023-24, 70% of our total power consumption comes from renewable sources such as solar and wind mill power.

Social Achievements

• Implemented a scalable requirement and human resource management process, allowing it to recruit and retain high-caliber personnel. The company continually invests in educating employees in latest cutting-edge technologies.

Governance Achievements

• The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by Securities and Exchange Board of India.

Climate Goals & Targets

Environmental Challenges

• Product quality issues jeopardizing customer satisfaction.
• Resilience of materials supply chains to the effects of climate change and other external factors.
• Handling hazardous material/waste in business operations.
• Safety risks in manufacturing operations.
• Legal and regulatory changes in the regions where the company operates.
• Environmental impacts in the supply chain.
• Labour conditions in the supply chain.

Mitigation Strategies

• Implemented robust system for reporting product complaints, regular audits by Quality Check department.
• RJC Audited Vendors & all materials sourced after verifying the vendor & attaining the KYS (Know your supplier). Maximizing resource efficiency in manufacturing processes.
• Continuous engagement with suppliers for identifying any new threats/ better options.
• Adherence to safety standards, adoption of latest safety protocols and measures.
• Strong governance mechanism based on the philosophy of ‘zero tolerance to non-compliance’.
• Management encompasses screening, selecting, monitoring, and engaging with suppliers to assess and address their environmental impacts.
• Continuous engagement with suppliers for identifying any new threats/better options.

Supply Chain Management

Supplier Audits: 85% of raw materials suppliers are RJC compliant.

Responsible Procurement

• RJC Audited Vendors, KYS (Know your supplier).

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: NGRBC, SASB

Certifications: ISO 14001:2015

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• GJEPC Award for being Country’s largest exporter of Silver Jewellery for the year 2022-23

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Achieved ISO 14001:2015 certification

Social Achievements

• Spent Rs.76.71 lakhs towards CSR & other social activities in FY24
• Launched Renaei, a new fashion jewelry D2C brand

Governance Achievements

• Member of the Responsible Jewellery Council (RJC)
• Adopted various codes and policies to carry out business ethically

Climate Goals & Targets

Environmental Challenges

• One-time restructuring expenses due to cost optimization initiatives

Mitigation Strategies

• Launched an extensive cost optimization initiative expected to deliver annual savings of ₹40-50 crore
• Process re-engineering, capacity rationalization, and interest expense reduction

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 14001:2015, RJC Code of Practices

Certifications: ISO 14001:2015

Sustainable Products & Innovation

• Increased use of lab-grown diamonds