BRSR STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 110 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD 5. Details on assessment of value chain partners: Heritage Foods, as a company involved in the food industry, prioritize the health and safety practices of farmers who contribute to their supply chain. Here are some key health and safety practices that Heritage Foods implement towards farmers: 1. Heritage Foods provide comprehensive training and orientation programs to farmers, focusing on best practices for health and safety milch animals. 2. The company conducts regular hazard assessments on the farms to identify potential risks and hazards that could affect the health and safety of farmers. 3. Heritage Foods collaborated with healthcare professionals for providing regular health check-ups and screenings for farmers. This can help identify any occupational health issues early on and provide appropriate medical support and interventions. Implementing these health and safety practices demonstrates the Company’s commitment to the welfare of farmers. Particulars % of value chain partners (by value of business done with such partners) that were assessed Health and safety practices - 0.00% - The farmers supplying milk constitute the major part of the value chain partner of the company. Working Conditions - 0.00% - The Company have a mechanism to demonstrate health and safety practices to all of its farmers. 6. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from assessments of health and safety practices and working conditions of value chain partners: Not applicable Principle 4: Business should respect the interests of and be responsive to all its stakeholders Stakeholder engagement is a strategic tool that enables the company to navigate market dynamics, regulatory requirements, and social expectations. Through proactive communication and collaboration, the company builds strong relationships based on mutual understanding. By engaging with stakeholders effectively, the company earned trust and credibility, demonstrating its commitment by meeting their expectations. By actively listening to their needs and preferences, the company gains valuable insights to make informed decisions, develop sustainable strategies, and improve overall performance. 1. Describe the processes for identifying key stakeholder groups of the Company. The company believes in fostering meaningful and transparent relationships by actively engaging with its stakeholders. The company aims to establish long-term partnerships based on trust and a shared willingness to collaborate. The company defines stakeholders as individuals, groups, or organizations that have a material influence on, or are materially influenced by, its activities. The Company regularly engages with the stakeholders through various channels to ensure effective communication. The company proactively shares relevant information through multiple means such as meetings, annual reports, CSR reports, press releases, and more. The company strives to make this communication process a two-way, encouraging feedback and dialogue. The company values the input from its stakeholders as it helps identify areas for improvement and enhance its operations. The company welcomes feedback from its stakeholders and believes it is crucial in shaping its growth. By actively listening to their concerns and suggestions, the company can continuously learn and evolve. The following table mentions different modes through which we engage with our stakeholders and concerns discussed with them. Presently, the key stakeholders are Shareholders, Employees, Vendors, Customers, Regulators, Suppliers and Farmers. 2. List stakeholder groups identified as key for the Company and the frequency of engagement with each stakeholder group. Sr. No. Stakeholder Group Whether identified as Vulnerable & Marginalized Group Channels of communication Details of Other Channels of communication Frequency of engagement Details of Other Frequency of engagement Purpose and scope of engagement including key topics and concerns raised during such engagement 1 Employees No Other Digital as well as physical channels of communication including but not limited to e-mails Others – please specify Ongoing The Company follows an open-door policy.
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