Sai Silks (Kalamandir) Limited, a leading player in the ethnic fashion retail industry, today announced its Business Responsibility and Sustainability Report for the financial year ending 31st March 2024. The report, as published under various regulations of SEBI, showcases the belief of the company in sustainability, transparency, and ethical governance. The BRSR is part of SSKL’s annual reporting since this also states its strategy on responsible retail practices and environmental stewardship for community well-being.
SSKL operates across four Indian states and has made valuable efforts to ensure that the company’s business is in line with the ESG guidelines. The report focuses on the company’s retail based on ethnic fashion products and thus the amazing financial figures to the tune of Rs. 1,373.55 crore as turnover and a net worth of Rs. 1,062.86 crore. It operates a total of 60 retail stores and two offices with a total workforce of over 5,424 employees, out of which 35% are women.
The report throws light on the company’s policies relating to diversity, inclusion, and welfare of employees. On aspects of gender equality, SSKL focuses on equal opportunity initiatives. Additionally, it reports a strong mechanism for grievance redressal with no pending complaints from employees, shareholders, or customers as of the close of FY 2023-24.
SSKL also brings out its community development role and, therefore, focuses a good deal on corporate social responsibility. Healthcare, education, and social welfare form part of SSKL’s strategic vision. The CSR initiatives in SSKL are purposed for the transformation of marginalized communities through investment in infrastructural development as well as skill-building programs for grass-roots level development on a sustainable footing.
Ecologically, SSKL is committed to lessening its carbon footprint. The company has reported a reduction in energy use and a significant focus on reducing waste produced from its operations. SSKL recycled and re-used plastics and packaging materials, an assurance of the company’s corporate commitment to sustainable sourcing and operations. Though the company does not produce hazardous waste, it has strict guidelines for waste management across its retail stores and warehouses.
SSKL also focuses on the imperatives of managing talent and customer experience. It has been able to minimize the turnover of employees and induce mechanisms for customer feedback into business processes to enhance the quality of service rendered. SSKL has initiated multiple insightful programs to make certain that customers have a seamless and satisfying shopping experience, which will enhance customer loyalty.
Transparency thus constitutes an inherent part of the operations undertaken at SSKL. Particular information about the anti-bribery and anti-corruption policies that the company engages in and the steps taken to ensure accountability at all levels has been provided in the report. In like manner, a governance model, driven in the frontline by the Managing Director, ensures that operations undertaken by the company are in tandem with the National Guidelines on Responsible Business Conduct (NGRBC).
Conclusion
The BRSR of SSKL for FY 2023-24 reflects the commitment of the firm to balance profitability with social responsibility, coupled with environmental sustainability. Critical aspects of employee welfare, conservation of energy, and customer connect—SKL will continue leading in fashion retail by ensuring that it gives back to the communities it serves. To inspire the retail industry in the country, the approach is quite proactive, well-governed, and keenly focused on sustainability.
Source: BRSR
Credit: Sai Silks (Kalamandir) Limited