Driving Change: Minda Corporation’s New Report Highlights Its Green Energy and CSR Milestones

Minda Corporation Limited released its Business Responsibility and Sustainability Report for the financial year 2023-24 on July 23, 2024. The holistic report is posted on the website of the company and showcases the firm's commitment to sustainable practices and corporate responsibility in all aspects of its operations. Minda Corporation started in 1985 and today is one of the leading automotive parts production names in the industry. A clear and continued focus on sustainable growth is attached to responsible business practices by the management of the firm from the very inception. The company's operations are spread across 20 plants and 7 offices in India, with 2 international offices, which reflects the strong national and international presence of the company. The company serves principally original equipment manufacturers and Tier-1 suppliers, thereby deriving substantial revenue from both domestic and international markets. The BRSR highlights Minda Corporation's commitment to environmental sustainability by investing heavily in renewable energy and energy-efficient management. As said, the company is aggressively looking at the benefits of including solar power to reduce its dependence on fossil fuels. This effort will be in sync with international decarbonization objectives. The process addresses not only the challenges of climate change but also the growing demand from investors and stakeholders for sustainability exercises. The report also covers the company's approach to waste management, which regards the reduction of landfill wastes through recycling and reusing techniques. Waste Management Minda Corporation jointly works with the approved vendors to manage hazardous and nonhazardous wastes to ensure that their disposal is in an environmentally safe manner. Another significant area of its activity is employee welfare, the details of which the company has elaborated on its workforce composition and diversity. As stated in the report, the Minda Corporation has 1,846 employees, and this includes quite several female and differently abled employees. The company believes in diversity in the workplace and seeks to constantly assert and reinforce diversity and support for all. Regarding CSR, Minda Corporation has involved itself in various societal welfare activities. With a turnover of INR 38,445 million and a net worth of INR 17,382 million, the company falls under the ambit of Section 135 of the Companies Act, 2013, and hence invests in various projects for the betterment of society in general. Further, the report provides in-depth details of the company's endeavors in the field of the provision of product quality and safety. Stringent adherence to quality standards helps Minda Corporation maintain customer satisfaction and secure supply and value chains. The company applies advanced technologies, raises labor qualifications, and upgrades the management systems to provide high-quality and safe products, heightens the confidence among the customers, and ensures that the market position is stable. The Business Responsibility and Sustainability Report of Minda Corporation for the financial year 2023-24 underlines the strong commitment of the company toward sustainable development, responsible business practices, and community engagement. As business conditions change, its focus and commitment to sustainability and responsibility provide standards and guidance for the industry as Minda Corporation progresses in the journey. Source and Credits: Minda Corporation Limited