Uniparts India Limited has disclosed its BRSR for FY 2023-24 as part of its firm commitment to environmental, social, and governance goals. According to the guidelines of the Securities and Exchange Board of India, BRSR attempts to present a comprehensive overview of various initiatives taken by Uniparts India in integrating sustainability into its operations.
The Business Responsibility and Sustainability Report, therefore, forms part of its annual report, reiterating the company’s commitment to responsible business. The Uniparts India Group is a leading manufacturer of a wide range of attached agricultural implements and parts used in the construction and mining sectors with worldwide operations. The company earns a sizeable percentage of its revenues from export operations.
Overview of the Business and Sustainability-Related Information
The business of Uniparts India is mainly in the manufacturing and sale of product lines, which includes projects in the areas of agricultural and forestry machinery, parts, and accessories for the construction and mining industries. These two sectors contribute to over 94% of the company’s total turnover. The company has a network across 16 locations in India, with strong export operations in 18 countries that contribute to 64.32% of the total turnover.
On materiality issues that pose risks and opportunities for business related to sustainability, Uni-parts has material issues such as product quality and design, economic performance, occupation health and safety, training and up-skilling of employees, and finally water and waste-water management. The company strives to ensure that its activities result in the most negligible environmental impact through sustainable product design with efficient resource utilization and proper waste management practices.
Employee and Social Responsibility
As of March 31, 2024, the permanent workforce strength of Uniparts India was 541. A minimal female and differently-abled component constitutes part of its workforce. The employee turnover has been fairly stable for the last three years consecutively.
Uniparts India follows the policy of CSR and has recorded a turnover of INR 704.66 crore with a net worth of INR 556.42 crore. The CSR activities carried out by the company have been aimed at its overall objectives set regarding sustainability, which are related to community development, education, and health.
Governance and Risk Management
The report also covers the governance structure of Uniparts India and strategies for managing risk. The company has, therefore, granted full-fledged policies on data security, privacy, and cybersecurity risks. Further, it emphasizes the maintenance of high ethical standards, compliance with regulations, and best governance practices as ingredients in gaining continued stakeholder trust and ensuring long-term success.
Conclusion
Uniparts India Ltd. BRSR 2023-24, in essence, underlines a proactive approach towards sustainability and responsible business conduct. The company is committed to long-term success by proactively working on ESG goals that address investor expectations, customer demands, and workforce imperatives.
Source: BRSR
Credit: Uniparts India Limited