Bajaj Electricals Limited has released its comprehensive Business Responsibility and Sustainability Report (BRSR) for the financial year 2023-24, underscoring the company’s steadfast dedication to sustainable practices and responsible business conduct.
Environmental Initiatives:
Bajaj Electricals is making significant strides in environmental sustainability by expanding its range of eco-friendly products. The company is enhancing energy efficiency across its operations, transitioning to renewable energy sources, and implementing effective water management strategies. These efforts aim to not only reduce costs but also significantly lower greenhouse gas emissions and mitigate water scarcity risks.
Product Innovation:
The company’s robust R&D initiatives have led to the introduction of energy-efficient products, such as LED bulbs, and innovations in health and hygiene solutions. Bajaj Electricals continues to lead in smart lighting solutions, providing energy-efficient options for both industrial and residential applications.
Social Responsibility:
With a workforce of over 4,000, Bajaj Electricals is committed to increasing diversity, supporting differently-abled employees, and engaging in community development projects. The company’s CSR initiatives focus on water conservation and building local supplier partnerships, reflecting its commitment to social well-being.
Supply Chain Resilience:
To mitigate supply chain disruptions, Bajaj Electricals diversifies its supplier base, develops robust contingency plans, and ensures stringent quality control. Regular audits and training programs emphasize the importance of ESG practices among value chain partners, promoting ethical conduct and sustainability.
Waste Management:
Bajaj Electricals implements comprehensive waste reduction and recycling programs, collaborating with suppliers to minimize waste across the supply chain. The company ensures compliance with waste management regulations, including Extended Producer Responsibility (EPR) obligations.
Financial Performance:
For the financial year ending March 31, 2024, Bajaj Electricals reported a turnover of Rs. 4,64,126.83 lakh and a net worth of Rs. 1,45,500.64 lakh. Exports contributed 1.54% to the total turnover, with the company serving over 40 countries.
Bajaj Electricals’ ESG report for FY2023-24 highlights its unwavering commitment to sustainable growth and responsible business practices. With a focus on innovation, community engagement, and environmental stewardship, the company continues to set a benchmark in the industry.