Shree Renuka Sugars Limited is one of the leading players in global markets for sugar and bio-energy and has reaffirmed its commitment to sustainability and responsible business conduct with the issuance of its Business Responsibility and Sustainability Report for the fiscal year 2023-24. This report has been published by the Securities & Exchange Board of India regulations that mandate all the top 1000 listed entities to publish their performance on environmental stewardship, social responsibility, and governance excellence.
BRSR details the operational strategy of SRSL with its six sugar mills in Maharashtra and Karnataka, along with its two refineries located at Kandla and Haldia. The production processes have been so heightened to meet not just the demand within the country but also abroad, especially in the Middle East, North Africa, and Eastern Africa. Having a refining capacity of 5500 tons per day ensures that there is a regular supply of refined sugar of the best quality. It has fetched for its brand ‘Madhur Pure & Hygienic Sugar’ a market share of about 33%.
The commitment of SRSL towards sustainability is reflected in its green energy initiatives. The firm has been one of the front runners in ethanol production from sugarcane, with a total capacity of 1,250 KLPD contributing a great deal to India’s ethanol-blending program. Besides this, the company has also maintained eco-friendly farming practices, renewable energy usage, water conservation, and waste management to reduce its impact on the environment.
The BRSR of the company also highlights its workforce demographics: 1,143 employees and 989 workers, all with a small percentage being females. SRSL is committed to ensuring employees’ welfare by providing health insurance, accident insurance, and maternity benefits for all its permanent employees. Additionally, SRSL’s occupational health and safety management system certified under ISO 45001:2018 ensures a safe working environment across all its operations.
On the governance front, SRSL has in place a comprehensive Code of Conduct that reaches both board members and senior management to make sure business operations are ethical, transparent, and accountable. In addition, there are strict quality management systems applied by the company to ensure its products are safe and of high integrity so that risks associated with GHG emissions, product quality, and energy management are appropriately managed.
Conclusion
This BRSR for FY 2023-24 underlines continuance on the part of Shree Renuka Sugars Ltd. to bring in sustainability at the core of its operations. Working along this belief, SRSL cements not only a leading position within the market segment but also contributes toward the attainment of broader environmental and social objectives, setting an example for the peer industries, namely the sugar and bio-energy sectors.
Source: BRSR
Credit: Shree Renuka Sugars Limited