Hikal Achieves 61.7% Renewable Energy Use, Saves Rs 27.8 Mn Annually

Life sciences company Hikal, in its sustainability report 2023-24, stated that 61.7% of its total energy requirement was met through renewable sources—resulting in annual savings of Rs 27.8 million from energy efficiency initiatives. The company also invested Rs 6 million to enhance effluent treatment in 2023–24 and recycled 60% of its waste during the year.

On the social front, the company trained 84% of its workers in health and safety practices, achieving a zero Lost time injury frequency rate (LTIFR). It also strengthened governance by increasing the proportion of women directors by 27.3% (last year it was only two women diretors) and independent directors to 55% of the board. The company reported zero data privacy breaches and no workplace discrimination complaints.

The company has also showed progress across science, healthcare, society, and the economy. In 2023–24, we invested Rs 86.2 million in learning and development, delivering 26,575 hours of occupational health and safety training and impacting over 2,45,600 lives through CSR initiatives, the number was 2,16,500 in the year 2022-23. Additionally, 23% of input materials were directly sourced from MSMEs and small producers, strengthening local economies. On the economic front, Hikal committed Rs 2,042 million in capital expenditure for new assets, spent Rs 34.8 million on CSR activities, and invested Rs 6 million to enhance effluent treatment processes. Scientifically, it filed 13 patent applications and allocated Rs 806 million to research and technology—representing 4.5% of our annual sales. These integrated efforts reflect our commitment to delivering holistic, long-term value.

The company has implemented a Green Supply Chain Policy that extends to all its value chain partners, expecting them to adhere to stringent sustainability standards. Supplier evaluation criteria place strong emphasis on ESG factors and prioritise local procurement wherever possible to support community well-being.

While some may view environmental initiatives as cost burdens, Hikal considers them valuable investments that yield substantial returns. Over the past two years, the company invested Rs 4 million in clean energy initiatives, resulting in a reduction of 25,268 tCO2e in greenhouse gas emissions and cost savings of Rs 27.8 million. Hikal continues to seek opportunities that reduce environmental impact while improving financial outcomes, proving that sustainability and profitability can go hand in hand.

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