Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 103 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 findings. The Audit Committee reviews the efficacy and effectiveness 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 is of primary importance to the Company. It ensures that the quality control system remains robust and the products undergo strict quality checks. The factories are certified under the Safety and Health Management System that complies with ISO 45001:2018 & the Environment Management System that complies with ISO 14001:2015. SUSTAINABLE MODEL The Company aims at creating a sustainable business model and reduce its carbon footprint on the environment. It focuses on energy conservation and optimal utilisation across all areas of operations. Factories are encouraged to consistently improve operational efficiencies, minimise consumption of natural resources and reduce water usage, energy usage and carbon emissions while maximising volumes. PACKAGING AND PLASTIC WASTE MANAGEMENT Plastic is one of the major components when it comes to ensuring safe quality of products and lesser leakages. But the plastic waste from the factories contributes primarily to environmental pollution. The Company strives to minimise the impact from plastic waste by participating in recycling of plastic. SUPPLY CHAIN With growing digitisation and rising internet penetration, technology- driven operations across the organisation have become imperative. The Company has been leveraging sales automation and specialised digital processes to provide solutions to its diverse customer 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. 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 efforts being put into place by them to achieve certain goals. Actual results might differ 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. MDA