Sunflag Iron & Steel Co. Ltd. is pleased to present its Business Responsibility and Sustainability Report for the financial year 2023-24, under Section 135 of the Companies Act 2013 and Rule 9 of the Companies (Accounts) Rules 2014, in compliance with the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015. This manufacturing of steel and its products is the leading manufacture for the company, which derives 100% of its turnover from the said activity and is registered under the CIN L27100MH1984PLC034003.
Corporate Responsibility and Environmental Commitment
The sustainability performance of Sunflag comes under the requirement of the Companies Act, 2013, in respect of CSR. The commitment to environmental management was high, based on initiatives concerning zero liquid discharge, heavy tree plantation, and waste recycling. One of the key achievements in this fiscal was attaining a 13.53% rate of input materials being recycled or reused in its production processes.
Recycling of blowdown water from cooling towers as per the Zero Liquid Discharge concept is adopted by the company. Treated domestic wastewater is also recycled for water reuse in tree plantations and for firefighting purposes, hence ensuring a low environmental footprint. It also undertakes heavy tree plantations annually, aiming at 100,000 trees every year in surrounding areas to improve biodiversity and increase carbon sequestration.
Process Upgrades and Waste Management
At Sunflag, the process technology has been continuously upgraded to add the latest pollution control equipment to minimize gaseous emissions. The company is also recycling treated effluent to reduce further harm caused by wastewater discharge, thus preserving the environment.
Sunflag integrates its production cycle with waste management practices whereby treated effluent is reused and waste recycled within the plant. Still, on statutory issues, the company ensures full compliance with statutory norms by holding regular meetings with value chain partners to verify that statutory dues are correctly deducted and deposited.
Social and Employee Commitment
With 849 employees in total, out of which 818 are permanent employees, Sunflag surely shows deep concern for its employees. Our company is committed to providing a work environment that is sustainable and responsible, ensures safety and wellness, and complies with the laws on labor.
Conclusion
The BRSR of Sunflag Iron & Steel Co. Ltd. for FY 2023-24 brings to the fore an ongoing effort at the company to balance industrial productivity with environmental responsibility. With innovative technologies, recycling waste, sustainable tree plantations to maintain ecological balance, and zero liquid discharge, Sunflag is setting up as a beacon in environmentally responsible steel manufacturing. The company keeps improving its practice of sustainability and hence remains committed to having positive impacts on the environment and community.
Source: BRSR
Credit: Sunflag Iron & Steel Co. Ltd.