24. Overview of the Company’s business conduct, pertaining to environment and social matters that present a risk or an opportunity to the business of the Company, rationale for identifying the same, approach to adapt or mitigate the risk along with its financial implications, as per the following format: S. No. Material issue identified Indicate whether risk or opportunity (R/O) Rationale for identifying the risk/ opportunity In case of risk, approach to adapt or mitigate Financial implications of the risk or opportunity (Indicate positive or negative implications) 1 Raw Material Sourcing Risk The Company’s raw materials are crucial to the kind of products it manufactures. These raw materials are specific to certain geographies. The changing climatic conditions may pose a risk to the availability of these raw materials. To mitigate this risk, the Company is expanding sourcing to multiple geographies. Negative – The implications of this would be on logistics cost 2 Supply Chain Management Opportunity Setting up a resilient supply chain has assisted the Company in ensuring the continuity in adverse times. The supply chain has helped the Company to have competitive pricing and pass on its benefit to the consumers without any business disruptions. The business continuity and risk management plan of the Company has covered all foreseeable risks in its supply chain with measures already underway to address those. Positive – The Company has developed a resilient supply chain which has helped it fetch longterm results. 3 Governance Opportunity This has helped the Company to strengthen the organisational strategy for championing success. The Company is led by strong leadership and capable execution teams. Positive – In transforming the business and levelling it up. 4 Human Rights Risk Changing regulations related to human rights may pose a challenge. The Company put in substantial efforts to ensure that no human right violations occur in the entire line of Company’s business. Negative – Any violation can pose a severe reputational and financial risk for the organisation 5 Employee Health and Safety Risk This can lead to decreased productivity. Many efforts and initiatives have been implemented to ensure employee health and safety. Negative – Any investment in employee health and safety will pay off in the long run. 6 Data Privacy and Security Risk It is critical for the business operations to protect the security of data and the entire value chain, particularly customers. Any data breach may result in the release of critical company data, resulting in fraud, business disruption, and continuity. The Company has implemented a data security mechanism to prevent any possible cyber-attack, data breach or any sabotage attempt to disrupt business processes. The Company has also developed a proper business continuity plan which includes building of redundancy for entire IT infrastructure and network. Negative – The process of identification and quantification of the financial implications of the identified risks and opportunities is currently ongoing 109 BRSR | Statutory Reports
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