Suprajit Engineering Limited, a leading player in the automotive components industry, declared its Business Responsibility and Sustainability Report for the financial year 2023-24. According to the report, the company adheres to the provisions of the Securities and Exchange Board of India while undertaking initiatives for the promotion of sustainability, corporate social responsibility, and maintaining a healthy work atmosphere.
Observance of SEBI Regulations
Suprajit Engineering Limited’s report is presented in full compliance with the various requirements of SEBI regulations that ensure their business practices are transparent and accountable. The reporting period is from 1 April 2023 to 31 March 2024. This shows the company’s sustained commitment to compliance with regulatory requirements and a sense of accountability toward shareholders, customers, and stakeholders.
Automotive Components Focus
Its core business is in the manufacture of automotive components comprising cables, halogen lamps, and speedometers. The said sector contributes 100% to its turnover while continuing to establish the company as a reliable and dominant supplier in the automotive sector. This guarantees that the company remains specialized in its fields while focusing on the quality and technological aspects during the production process.
Demographics and Inclusion of Employees
Workforce demography information shows that 92% of the employees are males and the rest 8% are females. Although such a trend reflects the male dominance in the industry, Suprajit Engineering has taken the utmost care to ensure that inclusion and diversity are significant concerns for the organization. The organization has reported that no complaints about discrimination or harassment were filed during the reporting period. It is this commitment of the organization to ensure dignity and safety at the workplace for all employees.
Suprajit Engineering has invested in the welfare of permanent and temporary employees. The report outlines various steps to enhance employee satisfaction and worktime engagement, illustrating how the company is focused on long-term workforce development. About certain data for the employee welfare programs, though not much has been shared, the overall emphasis again is on maintaining a healthy and productive work environment.
Environmental Initiatives
Sustainability has thus emerged as the leitmotif of business within the company. Suprajit Engineering has taken multiple initiatives to alleviate its ecological footprint. Its major focus areas are energy efficiency and waste management.
Suprajit Engineering has initiated plans for energy consumption optimization at all its facilities to reduce operational costs and build a greener future. The company is dedicated to effective waste management practices whereby any waste from manufacturing processes is disposed of properly and, where possible, recycled or repurposed.
Apart from operational, the company has involved employees of Suprajit Engineering in sustainability matters. The company has introduced employee awareness programs to elicit environmentally responsible behavior in the workplace. The initiatives implemented by the company address the long-term goals of the company, which are to reduce the carbon footprint and actively involve itself in the conservation of the environment.
Conclusion
The Business Responsibility and Sustainability Report of Suprajit Engineering Limited for FY2023-24 underlines the company’s main focus on adherence to regulatory requirements, ensuring ecological sensitivity, and maintaining a healthy work environment. The company moves ahead with its commitment to sustainable practices, like energy efficiency and waste management, towards a greener future while maintaining its leadership position in the automotive components industry.
Source: BRSR
Credit: Suprajit Engineering Limited