Kolkata, India – September 2024 Rupa & Company Limited, India’s leading hosiery company, released its Business Responsibility and Sustainability Report (BRSR) for the fiscal year 2023-24. The report, presented in conformation with the regulations of SEBI, elaborates on the various initiatives taken up by Rupa towards promoting sustainability, inclusivity, and ethical governance.
Overview of the Corporate and Market Presence
Incorporated in 1985, Rupa & Company Limited is one of the major producers and marketers of hosiery products in India. The revenue generated from this segment towards the overall turnover of the company is 100%. The company consists of four manufacturing plants and seven offices across India, covering 27 states and three union territories. Further, Rupa also exports goods to 14 international markets, which contribute 2.03% to its total revenues. The company has ensured a far-and-wide distribution of its products through contemporary trade, general trade, large format stores, multi-brand outlets, exclusive brand outlets, and e-commerce.
Diversity and Inclusivity in the Workforce
The group has 2,600 employees at Rupa; there are 777 permanent employees and 1,823 non-permanent employees. Workers are mostly male; females account for just 7% of permanent employees and 12% of the non-permanent staff. Even though the agency is committed to inclusion, among the Rupa group workforce, there is no differently-abled employee, which may indicate a gray area for change.
The company has initiated numerous steps for the welfare of the employees, such as health and accident insurance for 82% of its permanent staff and special maternity benefits for all females. Apart from the above, Rupa has given accident insurance only to its sales and marketing personnel, proving that the company is choosy even for the safety of its workforce.
Sustainability Practices and Care for Environment
The sustainability practice of Rupa involves actions relating to energy efficiency, water management, waste reduction, and emission control. The Company is implementing “Zero Liquid Discharge” at its Domjur unit, apart from making energy conservation measures through the replacement of conventional lighting with LED systems and using steam generated from the boilers for various applications. During 2023-24, Rupa reduced its Scope 1 and Scope 2 GHG emissions intensity by 10% over the previous year-a pretty important landmark in its alignment with Global Climate Action goals.
The ISO certifications on ISO 14001 for environmental management and ISO 45001 for occupational health and safety support Rupa’s effort towards environmental management. Besides this, the product-related environmental and safety stipulations are governed by the Global Organic Textile Standard issue GOTS and Oeko-Tex certification respectively.
Social Responsibility and Governance
Rupa believes in the philosophy of social responsibility, and this echoes in its various CSR initiatives. It had invested in community development, healthcare, and education that helped achieve its objective of inclusive growth and better living standard in regions where it operates. The CSR programs of Rupa reflect in its broader mission of contributing to sustainable social and economic development.
From a governance perspective, Rupa shows a very ethical environment through its Code of Conduct and Anti-Bribery Policy, making sure the business operation is transparent and accountable at all corporate levels. Sustainability-related decisions in the firm are led by the CSR Committee, headed by senior directors, which reflects a good amount of commitment from the top management itself.
Challenges and Future Outlook
However, such gains in sustainability persist with challenges of increasing workforce diversity and the attainment of its long-term environmental goals. The company realizes that it needs to work on improving women and differently-abled representatives in its workforce. Rupa continues to work on sustainable sourcing and further reduction of its carbon footprint by increasing the use of renewable sources of energy and adopting new technologies.
Moving forward, Rupa is committed to reaching net-zero by 2070 and working more closely with local suppliers for better sourcing practices. The company also intends to continue its investment in technology and infrastructure upgrade towards the attainment of goals on environment and social aspects.
Conclusion
The BRSR 2023-24 of Rupa & Company Limited underlines in no uncertain terms the intent of integrating ‘sustainability’ into its core business processes. Through concerted initiatives in energy conservation, waste management, and social responsibility, Rupa now sits on an enviable platform to drive long-term value creation while contributing toward broader environmental and societal goals. With further evolution, the commitment to ethical governance, inclusivity in the workforce, and care for the environment will constitute the core of its strategies, reinstating its position as a leader with responsibility in the hosiery industry.