Heritage Foods Limited

STATUTORY REPORTS MDA 29 th Annual Report 2020-21 | 115 HUMAN RESOURCES Human capital is pivotal to the Company. The Company fosters a safe, inclusive and collaborative work environment for the overall growth and welfare of the employees. The HR policies of the Company are aimed at attracting, nurturing and retaining talented employees in a constantly evolving business environment while ensuring trust, transparency and teamwork amongst its employees. The Application Tracking System (ATS) is a robust digital platform deployed by the Company for talent acquisition. The Company periodically conducts various learning and development sessions to hone the skills and capabilities of employees and keep up their morale. The Company has a structured induction process at all locations and management development program to upgrade the skills of managers. Further, employee recognition program is a vital part of the Company. Towards this, regular communication is done with the top management for identifying and rewarding the best performers across di ff erent divisions. In addition, objective appraisal systems based on Key Performance Indicators (KPI’s) are in place to reward senior level employees. As on March 31, 2021, the total number of employees is 3014. In the purview of COVID-19, the Company immediately adopted strong measures to safeguard the health of its employees. Work from Home (WFH), social distancing norms, regular sanitization of plants and o ffi ces and enhanced safety measures were among the signi fi cant measures enforced. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY The Company has a well-framed internal control system commensurate with the size and nature of its business. These internal controls ensure safeguarding of assets from unauthoriseduseor disposition, proper recordingand reporting of all transactions and compliance with applicable regulatory requirements. The internal control systems are reviewed and modi fi ed continually to keep up with the changes in business environment and statutory requirements. The framework is monitored by the internal audit team of the Company. The Audit Committee of the Board is periodically apprised of the internal audit fi ndings. The Audit Committee reviews the e ffi cacy and e ff ectiveness of the internal control system, takes corrective actions and suggests measures for strengthening it. The Company has a robust Management Information System which forms an integral part of the control mechanism. QUALITY & SAFETY Quality and Food Safety are of paramount importance to the Company. The Company has robust systems and processes in place to ensure that the products undergo stringent quality checks. The factories of the Company are certi fi ed under Safety and Health Management System that complies with ISO 45001:2018 & Environment Management System that complies with ISO 14001:2015. ENVIRONMENT The Company aims to develop business while improving its environmental performance in order to shape a sustainable future. Towards this, the Company continues to focus on energy conservation and optimal utilization across all areas of operations. Factories are encouraged to consistently improve operational e ffi ciencies, minimize consumption of natural resources and reduce water usage, energy usage and carbon emissions while maximizing production volumes. PACKAGING AND PLASTIC WASTE MANAGEMENT: Plastics play a vital role inpreventing foodwastage andensuring the quality and safety of food products. However, the leakage of plastic waste into the environment has become a grave environment challenge. The Company is strongly committed to minimizing the impact of plastic waste. SUPPLY CHAIN With growing digitization and rising internet penetration, technology-driven operations across the organization has become imperative. The Company has been leveraging sales automation and specialized digital processes to provide solutions to its diverse consumer base. The Company has deployed numerous digital tools and technologies to drive engagement with partners leading to speed of response to customers and transparency of information in the value chain processes and making product delivery seamless. The Company has also launched a consumer app, namely “Heritage Touch” which is a web based mobile app that monitors and provides real time data on product availability and freshness from retail outlets that are geo- mapped to the network. CAUTIONARY STATEMENT Statements in this report describing the Company’s objectives, projections, estimates and expectations may constitute “forward looking statements” within the meaning of applicable laws and regulations that involve risks and uncertainties. Such statements represent the intention of the Management and the e ff orts being put into place by them to achieve certain goals. Actual results might di ff er materially from those either expressed or implied in the statement depending on the circumstances. Therefore, the investors are requested to make their own independent assessments and judgments by considering all relevant factors before making any investment decision.