Carborundum Universal Limited (CUMI), headquartered in Chennai, has released its Business Responsibility and Sustainability Report (BRSR) for the fiscal year 2023-24, as mandated by SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. This report provides a comprehensive overview of CUMI’s environmental, social, and governance (ESG) initiatives and performance.
Founded in 1954, CUMI is a prominent manufacturer specializing in abrasives, electrominerals, refractories, and ceramics. The company operates 20 plants and maintains 10 offices across India, exporting its products to 41 countries globally.
In terms of workforce composition, CUMI employs 1,007 permanent staff, with a gender distribution of 91.76% male and 8.24% female. Additionally, the company has 4,889 workers, comprising 92.60% male and 7.40% female employees, with a small representation of differently-abled individuals.
CUMI’s CSR activities are aligned with Section 135 of the Companies Act, 2013, with a turnover of ?26,332 million and a net worth of ?22,975 million for the reporting period. The company focuses on addressing climate change risks through energy-efficient technologies and renewable energy investments. It also emphasizes employee development through extensive training programs to enhance skills and reduce turnover.
Moreover, CUMI has implemented a robust grievance redressal mechanism to handle complaints from stakeholders, including communities, investors, employees, customers, and partners across its value chain.
In conclusion, Carborundum Universal Limited remains committed to sustainable business practices, striving to achieve a balance between economic growth, social welfare, and environmental stewardship.