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Business Responsibility Report

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Business Responsibility Report BUSINESS RESPONSIBILITY REPORT SECTION A: SECTION C: OTHER DETAILS GENERAL INFORMATION ABOUT THE COMPANY 1. Does the Company have any Subsidiary Company/ 1. Corporate Identity Number (CIN) of the Company: Companies? L24110MH1947PLC005719 Yes, PEL has subsidiary companies in India and overseas. 2. Name of the Company: 2. Do the Subsidiary Company/Companies participate in Piramal Enterprises Limited ('the Company' or 'PEL') the BR Initiatives of the parent company? If yes, then 3. Registered Address: indicate the number of such subsidiary company(s) Piramal Ananta, Agastya Corporate Park, Opposite Fire Brigade, The Subsidiary Companies of PEL carry out their BR initiatives on Kamani Junction, Kurla (West), Mumbai – 400 070 a standalone basis . 4. Website: www piramal. com. 3. Do any other entity/entities (e.g. Supplier, distributor etc.) that the Company does business with, participate 5. E-mail ID: in the BR initiatives of the Company? If yes indicate the [email protected] percentage of such entities? [Less than 30%, 30 – 60% 6. Financial Year reported: and More than 60%] Financial year 2018-19 PEL is mindful of its duties as a responsible organisation and 7. Sector(s) that the Company is engaged in (industrial extends its Business Responsibility throughout its value chain. activity code-wise) Providing a safe and healthy work environment for colleagues, • 210: Manufacturing of pharmaceuticals, medicinal, chemical contractors, visitors, business partners and stakeholders is a and botanical products business priority and is linked with Piramal’s core values. In • 649: Other Financial service activities, except insurance and order to increase awareness on sustainable business practices, pension funding the organisation uses a number of initiatives to engage with suppliers and vendors who are critical to its operations. Piramal 8. List three key products/services that the Company uses the ‘Creating Optimal and Responsible Environment’ manufactures/provides (as in balance sheet) (CORE) platform to sensitise our supply chain about the benefits • Pharmaceuticals of health & safety and the environment and also encourage • Financial Services them to carry out sustainable business practices. As a part of • Healthcare Insight and Analytics the organisation's endeavour to forge stronger relationships 9. Total number of locations where business activity is across its value chain, periodic suppliers’ meets are organised undertaken by the Company: by the Company. Currently, less than 30% of our vendors and i. Number of International Locations: We have 7 locations of suppliers participate in our BR initiatives and we constantly which 2 are in UK, 4 are in USA and 1 in Canada strive to extend this across our supply chain . ii. Number of National Locations: We have 9 locations spread across Mumbai (3) & Mahad (1) in Maharashtra, Pithampur SECTION D: BR INFORMATION (1) in Madhya Pradesh, Digwal (1) in Telangana, Chennai (1) in Tamil Nadu and Ahmedabad (2) in Gujarat 1. Details of Director/Directors responsible for BR 10. Markets served by the Company – Local/State/National/ a) Details of the Director/Director responsible for International: implementation of the Business Responsibility policy/ We serve Local/State/National/International markets. policies Name DIN Designation SECTION B: FINANCIAL DETAILS OF THE COMPANY Mr. Vijay Shah 00021276 Executive Director 1 Paid Up Capital (`) ₹ 36.89 Crores b) Details of the Business Responsibility Head 2 Total Turnover (`) ₹ 3671.40 Crores 3 Total Profit/(Loss) after Taxes (`) ₹ (861.98) Crores 4 Total Spending on Corporate Social As per the provisions of the DIN (if applicable) NA Responsibility (CSR) as percentage of Companies Act, 2013, PEL spent Name Mr. Bharat Londhe Profit after Tax (%) ₹ 31.2 Crores* Designation Head - Environment, Health and Safety, Corporate 5 List of activities in which the expenditure Donation towards: Telephone number 022 38023630 in 4 above has been incurred a) Education E-mail ID [email protected] b) Gender Equality c) Women Empowerment d) Healthcare *During the year, the Company incurred losses due to certain exceptional items. Accordingly the spending on CSR cannot be provided as a percentage of the Profit after Tax. However, the amount spent is in excess of the statutory requirement. Details of the same are contained in the annual report on Corporate Social Responsibility activities for the financial year 2018-19 which is annexed to the Board’s Report. 180 Piramal Enterprises Limited 2. Principle-wise (as per NVGs) BR Policy/Policies a) Details of compliance (Reply in Y/N) Strategic Overview Overview Strategic No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 1 Do you have policy/policies for: Y Y Y Y Y Y Y Y Y 2 Has the policy been formulated in consultation with relevant stakeholders? Y Y Y Y Y Y Y Y Y All the policies have been formulated in consultation with the Management of the Company 3 Does the policy conform to any national/international standards? Y Y Y Y Y Y Y Y Y If yes, specify? (50 words) The policies are in line with the applicable national and international standards and compliant with the principles of the National Voluntary Guidelines (NVG) issued by the Ministry of Corporate Affairs. 4 Has the policy been approved by the Board? Y Y Y Y Y Y Y Y Y Discussion & Analysis Management If yes, has it been signed by the MD/owner/CEO/appropriate Board Director? All the policies relating to the 9 principles of the NVG have been approved by the Board and have been signed by the Executive Director. 5 Does the Company have a specified committee of the Board/Director/Official to Y Y Y Y Y Y Y Y Y oversee the implementation of the policy? PEL has appointed an Executive Director who is responsible for implementation of BR policies and a BR head to oversee the BR performance 6 Indicate the link to view the policy online? Y Y Y Y Y Y Y Y Y The link to view the policies online is: http://www.piramal.com/investor/overview Profiles & Management Board 7 Has the policy been formally communicated to all relevant internal and external Y Y Y Y Y Y Y Y Y stakeholders? 8 Does the Company have in-house structure to implement its policy/policies? Y Y Y Y Y Y Y Y Y 9 Does the Company have a grievance redressal mechanism related to the policy/ Y Y Y Y Y Y Y Y Y policies to address stakeholders’ grievances related to policy/policiesw? The queries relating to BR polices can be sent to [email protected] 10 Has the Company carried out independent audit/evaluation of the working of this Y Y Y Y Y Y Y Y Y policy by an internal or external agency? b) If answer against any principle, is ‘No’, please explain why: NA Reports Statutory 3. Governance related to BR a) Indicate the frequency with which the Board of Directors, Committee of the Board or CEO assess the BR performance of the Company. Within 3 months, 3-6 months, Annually, More than 1 year. The BR performance of PEL is reviewed annually by the Board of Directors. b) Does the Company publish a BR or a Sustainability Report? What is the hyperlink for viewing this report? How frequently it is published? Yes, the Business Responsibility Report has been published along with the Annual Report of PEL for Financial year 2018-19 and it can be viewed at: http://www piramal.com/investor/overview. Financial Statements SECTION E: PRINCIPLE-WISE PERFORMANCE Principle 1: Businesses should conduct and govern themselves with Ethics, Transparency and Accountability 1. Does the policy relating to ethics, bribery and corruption cover only the company? Yes/No. Does it extend to the Group/Joint Ventures/ Suppliers/Contractors/NGOs/Others? No, the policy relating to ethics, bribery and corruption extends beyond the Company. At PEL, we are driven by the philosophy of “Doing Well and Doing Good” and are committed towards ethical and transparent business practices. The PEL Code of Conduct for Board Members, PEL Code of Conduct for Senior Management and the PEL Code of Conduct applicable to all employees of the Company are Annual Report 2018-19 181 BUSINESS RESPONSIBILITY REPORT testaments to the Company’s efforts in ensuring that ethical (i) Reduction during sourcing/production/distribution conduct is not compromised. PEL has implemented a Vigil achieved since the previous year throughout the value Mechanism across the organisation to encourage reporting chain? of unethical, unlawful or inappropriate activities and to act (ii) Reduction during usage by consumers (energy, water) has in accordance with the highest standards of integrity. These been achieved since the previous year? policies propose directives in relation to matters like conflict of interest, unethical conduct, abuse of authority etc. Our We at PEL are focused on optimising resource utilisation in the values act as guiding principles to steer the path in forming the manufacturing of our products thereby resulting in developing a right partnerships in creating long-term stakeholder value. We strategy for consumption of resources in a sustainable manner. have laid down a Business Code for Contractors (BCC) covering • Trazadone: vendors and sub-vendors whom we engage with. About: It is a phenylpiperazine compound of the serotonin 2. How many stakeholder complaints have been received in the antagonist and reuptake inhibitor (SARI) class. This past financial year and what percentage was satisfactorily antidepressant medication is used to treat major depressive resolved by the management? If so, provide details thereof, in disorders, anxiety disorders and alcohol dependence. about 50 words or so. Technical Improvements: Increase in the production capacity PEL upholds high standards of integrity and ethical practices of Trazadone from 8MT per month to 10MT per month was and acknowledges that accountability and transparency accomplished by improvement in the method of analysing the are essential for creating value for all stakeholders.
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