Pitti Engineering Limited is one of the leading names in the electrical laminations and motor core manufacturing industry. The company has just released its latest Business Responsibility & Sustainability Report, BRSR, for the financial year 2023-24. This report underlines the company’s commitment to sustainable practices, social responsibility, and transparent governance and reflects its efforts to conform to the National Guidelines on Responsible Business Conduct. (NGRBC).
Since its inception in 1983, Pitti Engineering has grown to be one of the largest contributors in the manufacturing business for electrical laminations, motor cores, and other metal parts. Headquartered in Hyderabad, with four manufacturing plants in the country, it caters to some of the most coveted industries, such as renewable energy, automotive, and power generation. Pitti Engineering has always been determined in matters of sustainability and corporate responsibility.
Among the highlights under mention would be the concern for environmental sustainability. Pitti Engineering has been doing all it can to reduce its carbon footprint. The company has also made sizeable investments in renewable energy. It has installed at its Aurangabad facility a 1 MW solar power plant, along with aiding it in saving 2382 metric tons of CO2 emissions over the last two financial years. Further, the company has undertaken a massive afforestation drive, planting over 21,500 trees at the Aurangabad facility and 15,000 trees at the Hyderabad facility using the Miyawaki afforestation method.
On the issues of social responsibility, Pitti Engineering has worked out the welfare of its employees and communities surrounding the operational areas. The company has installed a full health and safety management system encompassing periodic safety drills, risk assessments, and periodic health check-ups of employees. Moreover, the company has witnessed zero cases of workplace injuries—a factor that justifies its sound safety practices.
Moreover, Pitti Engineering stands for the principles of inclusion and equal opportunities, adopting the corresponding policy that ensures supporting differently-abled employees and guaranteeing gender diversity. As of 31st March 2024, the company has employed 792 permanent employees, out of which women make up 2.65% of the total workforce. The policy about equal opportunities and non-discrimination is designed in tune with the Rights of Persons with Disabilities Act, 2016 so that all employees would be treated with fairness and equality.
Governance: On the front, Pitti Engineering has kept a robust ethical framework and followed all audits and compliance reviews. The risk management and CSR committees have played an essential role in properly monitoring ESG factors to ensure that the firm acts with high standards of integrity and maintains complete transparency in its transactions.
Conclusion
The BRSR report for 2023-2024 underlines Pitti Engineering’s commitment to growth in a sustainable manner, undertaking business responsibly, and taking care of the stakeholder community. By integrating ESG principles into its operations, Pitti Engineering not only secures a greener future but also creates long-term value for both its shareholders and stakeholders. While this company keeps innovating and further extends inroads on sustainability, the rate at which it continuously raises the bar for peers in this industry is insurmountable.
Source: BRSR
Credit: Pitti Engineering Limited