SRF Ltd. - Environmental & Social Information 2024

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The BSE Ltd. BSE’s Corporate Relationship Department 1[st] Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai 400 001

National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex Bandra (E) Mumbai- 400 051

SRF/SEC/AGM-53/2024

05[th] June, 2024

Dear Sir,

Sub: Business Responsibility and Sustainability Report- SRF Limited

In Compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find attached Business Responsibility and Sustainability Report for FY 202324 of SRF Limited.

The Business Responsibility and Sustainability Report forms an integral part of the Annual Report FY 2023-24 which can also be accessed at the company’s website at: www.srf.com

Request to kindly take this intimation on record.

Thanking you,

Yours faithfully, For SRF LIMITED

RAJAT Digitally signed by RAJAT LAKHANPAL LAKHANPAL Date: 2024.06.05 12:12:07 +05'30'

Rajat Lakhanpal Sr. VP (Corporate Compliance) & Company Secretary

Encl : A/a

SRF LIMITED Block-C Sector-45 Gurugram 122 003 Haryana India Tel: +91-124—4354400 Fax: +91-124—4354500 E-mail: [email protected] Website: www.srf.com Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Plate Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091

Corporate identity No. L181010L1970PLC005197

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Business Responsibility & Sustainability Report

Annual Report [2023-24]

SECTION A: GENERAL DISCLOSURES

I.	Details of the listed entity
1.	Corporate Identity Number	(CIN)	of	L18101DL1970PLC005197
	the Listed Entity
2.	Name of the Listed Entity			SRF Limited
3.	Year of incorporation			1970
4.	Registered ofce address			The Galleria, DLF Mayur Vihar, Unit No. 236 &
				237, Second Floor, Mayur Place, Noida Link Road,
				Mayur Vihar Phase I Extn, Delhi - 110 091
5.	Corporate address			Block - C, Sector - 45, Gurugram, Haryana,
				India - 122 003
6.	E-mail			[email protected]
7.	Telephone			91-124-4354400
8.	Website			www.srf.com
9.	Financial year for which reporting is being		done	1 April 2023 to 31 March 2024
10.	Name of the Stock Exchange(s) where			1. BSE Limited
	shares are listed			2. The National Stock Exchange of India Limited
11.	Paid-up Capital			INR 296.42 Crore
12.	Name and contact details (telephone, email			Rajat Lakhanpal
	address) of the person who may be contacted			Sr. Vice President (Corporate Compliance) &
	in case of any queries on the BRSR report			Company Secretary
				Email - [email protected]
				Contact - 0124-4354589
13.	Reporting boundary - Are the	disclosures		Disclosures under this report are made on
	under this report made on a standalone basis			standalone basis for SRF Limited
	(i.e. only for the entity) or on a consolidated
	basis (i.e. for the entity and all	the entities
	which form a part of its consolidated fnancial
	statements, taken together).
14.	Name of assurance provider			BDO India LLP
15.	Type of assurance obtained			Reasonable Assurance for BRSR Coreparameters

II. Products and services

16. Details of business activities (accounting for 90% of the turnover):

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S. Description of Description of Business Activity % of Turnover
No. Main Activity of the entity
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1.	Chemical Business	Chemicals Business consists of two segments, namely	57.82
		Specialty Chemicals and Fluorochemicals located in
		Dahej, Gujarat and Bhiwadi, Rajasthan.
2.	Packaging Films	Packaging Films Business (PFB) consists of Polyester	20.37
	Business	Films. PFB manufacturing locations are based in Indore
		(3) in Madhya Pradesh and Kashipur in Uttarakhand.
3.	Technical Textiles	Technical Textiles Business (TTB) consists of	17.49
	Business	manufacturing of Tyre Cord Fabrics, Belting Fabrics and
		Industrial Yarn. TTB has manufacturing locations in
		Manali, Gummidipoondi and Viralimalai in Tamil Nadu
		and Malanpur in Madhya Pradesh
4.	Laminated Fabric	Manufactures PVC laminated polyester fabrics. Located	1.80
	Business	at Kashipur in Uttarakhand
5.	Coated Fabric	Manufactures yarn, weaving, coating, printing and	2.51
	Business	lacquering. Located at Gummidipoondi in Tamil Nadu.

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17. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):

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S. Product/Service NIC % of total Turnover
No. Code contributed
1. Specialty Chemicals 2029 34.70
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1.	Specialty Chemicals	2029	34.70
2.	Fluorochemicals, Refrigerant Gases and allied products	2011	19.62
3.	Packaging Films	2220	20.34
4.	Nylon Tyre Cord Fabric / Polyester Tyre Cord Fabric / Belting Fabric	1399	15.64
5.	Industrial Chemicals	2011	3.25
6.	Laminated Fabric, Coated Fabric and other ancilliary activities	1399	4.36
7.	Synthetic Filament Yarn includingIndustrial Yarn/Twine	2220	1.96

III. Operations

18. Number of locations where plants and/or operations/offices of the entity are situated:

Location Number ofplants Number of ofces	Location Number ofplants Number of ofces	Total
National 10	7	17
International 0	0	0

19. Markets served by the entity:

a. Number of locations

Locations	Value(in numbers)
National (No. of States)	28 States and 8 Union Territories
International(No. of Countries)	87

b. What is the contribution of exports as a percentage of the total turnover of the entity?

The contribution of exports as a percentage of total turnover of SRF Limited on standalone basis is 45.14%.

c. A brief on types of customers:

The Company’s customers base consists of organizations under automotive, pharmaceuticals, air conditioning and refrigeration, manufacturing, chemicals, food & agro, renewable energy, lifestyle & decor, agrochemicals, mining and FMCG.

IV. Employees

20. Details as at the end of Financial Year

a. Employees and workers (including differently abled):

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S. Particulars Total (A) Male Female
No. No. (B) % (B / A) No. (C) % (C / A)
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			Employees
1.	Permanent (D)	3,580	3,295	92	285	8
2.	Other than Permanent (E)	30	30	100	-	0
3.	Total Employees(D+E)	3,610	3,325	92	285	8
			Workers
4.	Permanent (F)	3,792	3,738	99	54	1
5.	Other than Permanent (G)	8,154	7,787	95	367	5
6.	Total workers(F+G)	11,946	11,525	96	421	4

Annual Report [2023-24]

b. Differently abled Employees and workers

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S. Particulars Total (A) Male Female
No. No. (B) % (B / A) No. (C) % (C / A)
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		DIFFERENTLY ABL	ED EMPLOYEES
1.	Permanent (D)	5	4	80	1	20
2.	Other than Permanent (E)	0	0	0	0	0
3.	Total Employees(D+E)	5	4	80	1	20
		DIFFERENTLY ABLED WORKERS
4.	Permanent (F)	13	13	100	0	0
5.	Other than Permanent (G)	2	2	100	0	0
6.	Total workers(F+G)	15	15	100	0	0

21. Participation/Inclusion/Representation of women

Particulars Total (A)	No. andpercentage of Females
	No.(B) %(B / A)
Board of Directors 10 KeyManagement Personnel 8	1 10 0 0

22. Turnover rate for permanent employees and workers

Particulars	(Turnover rate in %) FY 2023-24 (Turnover rate in %) FY 2022-23 (Turnover rate in %) FY 2021-22
	Male Female Total Male Female Total Male Female Total
Permanent Employees Permanent Workers	10 16 10 13 18 13 10 18 11 7 2 7 7 10 7 5 21 5

V. Holding, Subsidiary and Associate Companies (including joint ventures)

23. (a) Names of holding / subsidiary / associate companies / joint ventures

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S. Name of the holding/ Indicate whether % of shares Does the entity indicated
No. subsidiary/ associate holding/ held by listed at column A, participate in
companies/ joint ventures (A) Subsidiary/ entity the Business Responsibility
Associate/ Joint initiatives of the listed entity?
Venture (Yes/No)
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1	KAMA Holdings Limited	Holding	50.21	No
2	SRF Holiday Home Limited	Subsidiary	100	No
3	SRF Global BV	Subsidiary	100	No
4	SRF Industries (Thailand) Limited	Subsidiary	100	No
5	SRF Industex Belting (Pty) Limited	Subsidiary	100	No
6	SRF Flexipak (South	Subsidiary	100	No
	Africa) (Pty) Limited
7	SRF Europe Kft	Subsidiary	100	No
8	SRF Employees Welfare Trust	Subsidiary	100	No
	(Controlled Trust) *
9	SRF Altech Limited	Subsidiary	100	No
10	Malanpur Captive Power Ltd.	Associate	22.60	No
11	Vaayu Renewable Energy (Tapti)	Associate	26.32	No
	Private Limited
12	SRF Middle East LLC	Subsidiary	100	No

as per the requirements of INDAS

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VI. CSR details

24. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013: Yes

(ii) Turnover (in ` ) 10,786.67 Crore
(iii) Net worth (in ` ) 10,255.35 Crore

VII. Transparency and Disclosures Compliances

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

Stakeholder	Grievance Redressal		FY 2023-24			FY 2022-23
group from whom complaint is received	Mechanism in Place (Yes/No) (If Yes, then provide web-link for grievance redress policy)	No. of complaints fled during the year	No. of complaints pending resolution at close of the year	Remarks	No. of complaints fled during the year	No. of complaints pending resolution at close of the year	Remarks
Communities	Yes	0	0	None	0	0	None
Investors	Yes	0	0	None	0	0	None
Shareholders	Yes	316	0	None	304	0	None
Employees and	Yes	2	0	None	3	0	None
workers
Customers	Yes	520	5	None	440	56	None
Value Chain	Yes	0	0	None	0	0	None
Partners

26. Overview of the entity’s material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, 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 identifed	S. No. Material issue identifed	Indicate whether risk or opportunity (R/O)	Rationale for identifying the risk / opportunity		Incase of risk, approach to adapt or mitigate Financial implications of the risk or opportunity (Indicate positive or negative implications)
1	Energy	Opportunity	Implementing energy efciency	-	Positive
	Management		initiatives at our manufacturing
			sites and ofces contributes in our eforts to decrease the Company’s
			greenhouse gas emissions.
2	GHG emission	Opportunity	Implement initiatives to reduce	-	Positive
	reduction		greenhouse gas emissions
			by utilizing renewable fuel
			sources, increasing the share of
			renewable power in electricity
			mix, and adopting energy-efcient
			measures.

Annual Report [2023-24]

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S. Material issue Indicate Rationale for identifying the Incase of risk, Financial
No. identified whether risk / opportunity approach to implications
risk or adapt or of the risk or
opportunity mitigate opportunity
(R/O) (Indicate
positive or
negative
implications)
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3	Air emissions	Risk	Exceeding the designated limits	Ensure m	onito	ring of all	Negative
			set by the State Pollution Control	sources of	air pollutants in
			Board (SPCB) may result in fnes	Company’s manufacturing
			and penalties.	locations.		Undertake
				measures	to reduce SOx,
				NOx and PM emissions
4	Water	Opportunity	The practice of reuse, recycling,	-			Positive
	conservation		and rainwater harvesting
			decreases water withdrawals, thus
			reducing dependence on fresh
			water resources.
5	Waste	Risk	Inefective waste management	Our waste management			Negative
	Management		practices could potentially	strategy	focuses on
			endanger the environment.	efcient	management
				of waste	based on 3R
				principle –	Reduce, Reuse
				and Recycle and promotes
				circular economy
6	Key material	Risk	Failure to adhere to ESG practices	Increase		awareness	Negative
	procurement and		and EHS compliance by suppliers	among	raw	material
	management		could result in disruptions to the	suppliers	to	implement
			supply chain.	ESG practices.
7	Employment	Opportunity	Providing an inclusive and safe	-			Positive
			workplace and contribute to
			well-being of workforce
8	Occupational	Risk	Occupational health & safety risks	Our company		maintains	Negative
	Health and Safety		due to the nature of operations of	its commitment to
			the Company	implementing strong and
				efcient	occupational
				health	and	safety
				management		systems
				to minimize		industrial
				accidents.
9	Community	Opportunity	CSR initiatives contribute to the	-			Positive
	relations and		empowerment of communities
	engagement		by providing them healthcare,
			education, vocational training
			and, generating employment
			opportunities that would foster the
			development of both individuals
			and the region.
10	Corporate	Opportunity	Code of Conduct of the Company	-			Positive
	Governance		enshrines the principles by which
	Practices		the Company and its employees
			are guided.

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S. No.	Material issue identifed	Indicate whether risk or opportunity (R/O)	Rationale for identifying the risk / opportunity		Incase of risk, approach to adapt or mitigate Financial implications of the risk or opportunity (Indicate positive or negative implications)
11	Total Quality	Opportunity	Implementation of TQM ensures		Positive
	Management		meeting evolving customer
	(TQM)		aspirations and shifting market
			dynamics by bringing systemic
			changes to maximise operational
			efciency
12	Innovation &	Opportunity	Improve resource efciency and	-	Positive
	Research and		continuously develop new products
	Development		for the market.

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the NGRBC Principles and Core Elements.

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Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
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Policy and management processes
1. a. Whether your entity’s policy/policies cover each
principle and its core elements of the NGRBCs.	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
(Yes/No)
b. Has the policy been approved by the Board? (Yes/ No)	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
c. Web Link of the Policies, if available		https://www.srf.com/investors/corporate-governance/
2. Whether the entity has translated the policy into procedures. (Yes / No)	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
3. Do the enlisted policies extend to your value chain	No	No	No	No	No	No	No	No	No

Do the enlisted policies extend to your value chain partners? (Yes/No)
Name of the national and international codes/ certifications/labels/ standards (e.g. Forest Stewardship Council, Fairtrade, Rainforest Alliance, Trusts) standards (e.g. SA 8000, OHSAS, ISO, BIS) adopted by your entity and mapped to each principle.

Our plants are certified with ISO 14001, ISO 50001 and OHSAS 18001

Specific commitments, goals and targets set by the entity with defined timelines, if any.

Our values – Respect, Integrity, Non-discrimination, Excellence & Wellbeing– ensure our commitment towards sustainability across our plants and offices. In line with our identified material topics, we have taken the following targets and commitments

30% electricity sourced from RE by 2030
Improvement in water credit to debit ratio
Moving towards an Injury Free Workplace
Enhanced women participation across organization
Performance of the entity against the specific commitments, goals and targets along-with reasons in case the same are not met.
We have set up an internal mechanism to regularly track our targets and commitments as mentioned in (5). Yearly performance of identified targets and commitments are updated as part of our ESG disclosures. Refer ESG section for more details

100

Annual Report [2023-24]

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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Disclosure Questions|P1|P2|P3|P4|P5|P6|P7|P8|P9|
|Governance, leadership and oversight|

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Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements (listed entity has flexibility regarding the placement of this disclosure):
Details of the highest authority responsible for implementation and oversight of the Business Responsibility policy (ies).
Does the entity have a specified Committee of the Board/ Director responsible for decision making on sustainability related issues? (Yes / No). If yes, provide details.

We recognize that our ESG journey is a continuous endeavour, and we are committed to consistently improving our own benchmarks. With diligent efforts and proactive initiatives, we are working towards achieving our targets and commitments. Our ESG performance underscores our commitment to effecting positive change while strengthening the resilience and sustainability of our business.

We are guided by the Board of Directors comprising of industry experts having diverse and rich experiences which enable and facilitate effective decision-making and execution of sustainable and long-term strategies. The Board reviews key ESG imperatives and ensure ESG performance is aligned to our aspirations

The Board members periodically monitor the financial, environmental, and social performance of the Company while addressing key risks and opportunities. The Company also has a Risk Management Committee which reviews entity wide risks including ESG risks.

10 Details of Review of NGRBCs by the Company:

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Subject for Review Indicate whether review was Frequency (Annually (A) /
undertaken by Director / Committee of Half yearly (H)/ Quarterly(Q) /
the Board/ Any other Committee Any other – please specify)
P1 P2 P3 P4 P5 P6 P7 P8 P9 P1 P2 P3 P4 P5 P6 P7 P8 P9
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|||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Performance|against|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|A|A|A|A|A|A|A|A|A|
|above|policies|and|
|follow up action|
|Compliance|with|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|As and when required|
|statutory|requirements|
|of|relevance|to|the|
|principles,|and,|
|rectification|of|any|
|non-compliances|
|11.|Has the entity carried|P1|P2|P3|P4|P5|P6|P7|P 8|P9|
|out|independent|
|assessment/ evaluation|No external assessment was conducted, However, the Company conducts periodic review of|
|of|the|working|of|the policies internally.|
|its|policies|by|an|
|external|agency?|
|(Yes/No). If yes, provide|
|name of the agency.|

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101

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If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated

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Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
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The entity does not consider the Principles material to its business (Yes/No) The entity is not at a stage where it is in a position to formulate and implement the policies on specified principles (Yes/No) The entity does not have the financial or/ human and technical resources available for the task (Yes/No) It is planned to be done in the next financial year (Yes/No) Any other reason (please specify)

SECTION C: PRINCIPLE WISE PERFORMANCE DISCLOSURE

This section is aimed at helping entities demonstrate their performance in integrating the Principles and Core Elements with key processes and decisions. The information sought is categorized as “Essential” and “Leadership”. While the essential indicators are expected to be disclosed by every entity that is mandated to file this report, the leadership indicators may be voluntarily disclosed by entities which aspire to progress to a higher level in their quest to be socially, environmentally and ethically responsible.

PRINCIPLE 1 Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable. Essential indicators

1. Percentage coverage by training and awareness programmes on any of the principles during the financial year:

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Segment Total number of Topics /principles covered under %age of persons in
training and the training and its impact respective category
awareness covered by the
programmes held awareness programmes
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Board of	4	Familiarization of business environment	100%
Directors		and related risks, Changes in regulatory
		framework, ESG and sustainability practices,
		Health & Safety, Values of SRF
Key Managerial	6	Familiarization of business environment	100%
Personnel		and related risks, Changes in regulatory
		framework, ESG and sustainability
		practices, Health & Safety, Values of SRF,
		Code of Conduct
Employees	4,217	Various trainings pertaining to health,	87%
other than BoD		safety, behavioural, skill upgradation,
and KMPs		management, process improvements,
		ergonomics, operations etc.
Workers	2,361	Various trainings pertaining to health,	77%
		safety, behavioural, skill upgradation,
		management,ergonomics,operations etc.

102

Annual Report [2023-24]

2. Details of fines / penalties /punishment/ award/ compounding fees/ settlement amount paid in proceedings (by the entity or by directors / KMPs) with regulators/ law enforcement agencies/ judicial institutions, in the financial year, in the following format (Note: the entity shall make disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity’s website):

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Monetary
NGRBC Name of the Amount Brief of the Case Has an
Principle regulatory/ (In INR) appeal
enforcement been
agencies/ judicial preferred?
institutions (Yes/No)
Penalty/ Fine Principle 1 - State Tax Officer, ` 15.73 State Tax Officer has passed orders dated No
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Penalty/ Fine	Principle 1 -	State Tax Ofcer,	`15.73	State Tax Ofcer has passed orders dated	No
	Businesses should	Manali Assessment	Crores	10 January 2024 in respect for 2005-
	conduct and govern	Circle		06 Supplies aggregating to`46.62
	themselves with			Crores claimed by the Company under
	integrity, and in			concessional/exempt supplies were
	a manner that is			alleged to be chargeable to sales tax
	Ethical, Transparent			at the maximum rate of 20%. Penalty
	and Accountable.			of`15.73 Crores has been levied in
				connection with the above allegation.
				The Authority alleged that maximum
				rate and penalty was being levied on the
				turnover on account of non-submission
				of documents before the Authority to
				substantiate levy of sales tax at lower
				rate/exemption of a part of turnover
				from sales tax. However, the Company
				has submitted the requisite documents
				and paid additional Tax amounting to
				`1,81,187 and accordingly the matter
				was disposed of bythe authorities.
Penalty/ Fine	Principle 1 -	State Tax Ofcer,	`9.64	State Tax Ofcer has passed order	No
	Businesses should	Manali Assessment	Crores	for 2006-07 in respect of Supplies
	conduct and govern	Circle		aggregating to`28.56 Crores claimed
	themselves with			by the Company under concessional/
	integrity, and in			exempt supplies are alleged to be
	a manner that is			chargeable to sales tax at the maximum
	Ethical, Transparent			rate of 20%. Penalty of`9.64 Crores
	and Accountable.			has been levied in connection with the
				above allegation. The above Orders are
				appealable, and the Company is in the
				process of making appeal against these
				orders before the appellate authorities.
				The Authority has alleged that maximum
				rate and penalty is being levied on the
				turnover on account of non-submission
				of documents before the Authority to
				substantiate levy of sales tax at lower
				rate/exemption of a part of turnover
				from sales tax. However, the Company
				has submitted the requisite documents
				and paid additional Tax amounting to
				`1,52,188 and accordingly the matter
				was disposed of bythe authorities.

103

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Penalty/ Fine	Principle 1 -	Chief Judicial	`0.028	Hon. Chief Judicial Magistrate, District	No
	Businesses should	Magistrate, District	Crore	Dhar, Madhya Pradesh has passed
	conduct and govern	Dhar, Madhya		an order imposing penalty, on Mr.
	themselves with	Pradesh		Pramod Gopaldas Guajarati, Whole
	integrity, and in			Time Director (Safety & Environment)
	a manner that is			and Occupier of SRF Ltd. under the
	Ethical, Transparent			provisions of the Factories Act, 1948,
	and Accountable.			aggregatingto`0.028 crore.
Penalty/ Fine	Principle 1 -	Ofce of Assistant	`0.36	Order for imposing penalty for	Yes
	Businesses should	Commissioner CGST	Crore	demand of Cenvat Credit amounting
	conduct and govern	& Cex, Division II,		`36,85,987/- (Rupees Thirty Six Lacs
	themselves with	Gwalior		Eighty Five Thousand Nine Hundred
	integrity, and in			and Eighty Seven Only) as per Rule 15
	a manner that is			of Cenvat Credit Rules, 2004 read with
	Ethical, Transparent			Section 11AC of Central Excise Act, 1944
	and Accountable.			with respect to the period between
				April,2008 till September,2011.
Penalty/ Fine	Principle 1 -	Commissioner	`0.025	Commissioner of Customs cancelled	No
	Businesses should	of Customs,	Crore	certain RODTEP scrips issued and
	conduct and govern	Ahmedabad		imposed a penalty of`0.025 Crore
	themselves with			on the Company. The Company is
	integrity, and in			challenging the said order before
	a manner that is			appropriate Forum.
	Ethical, Transparent			RODTEP scrip generated due to
	and Accountable.			inadvertent ticking of the wrong column
				in the ICEGATE portal of the Customs
				Authority.
Penalty/ Fine	Principle 1 -	Inspector, Legal	`0.0025	Department of Legal Metrology issued	No
	Businesses should	Metrology,	Crores	notice for alleged non-compliance of
	conduct and govern	Rajamahendravaram		declaration to be made on refrigerant gas
	themselves with	I, EG Distt. (AP)		cylinders under Section 18 of the Legal
	integrity, and in			Metrology Act, 2009. The Company had
	a manner that is			opted for compounding under Section
	Ethical, Transparent			48 of the Legal Metrology Act, 2009. A
	and Accountable.			compounding fee of`25,000 each has
				been imposed on the Company and the
				nominated Director. The matter stands
				closed.
Penalty/ Fine	Principle 1 -	Ofce of Additional	`4 Crores	Search of the factory premises of the	Yes
	Businesses should	Commissioner GST,		Company in Bhiwadi, Rajasthan was
	conduct and govern	Bhiwadi Zone,		conducted by the GST Department on
	themselves with	Rajasthan		14th August, 2023.
	integrity, and in
	a manner that is
	Ethical, Transparent
	and Accountable.
Settlement			NIL
Compoundingfee			NIL

104

Annual Report [2023-24]

	Non-Monetary
	NGRBC Principle Name of the regulatory/ enforcement agencies/ judicial institutions Brief of the Case Has an appeal been preferred? (Yes/No)
Imprisonment	NIL
Punishment	NIL

3. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision preferred in cases where monetary or non-monetary action has been appealed.

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----- Start of picture text -----

Case Details Name of the regulatory/ enforcement
agencies/ judicial institutions
----- End of picture text -----

Order for imposing penalty for demand of Cenvat Credit amounting ` 36,85,987/- (Rupees Thirty Six Lacs Eighty Five Thousand Nine Hundred and Eighty Seven Only) as per Rule 15 of Cenvat Credit Rules, 2004 read with Section 11AC of Central Excise Act, 1944 with respect to the period between April, 2008 till September, 2011

Appeal filed before The Commissioner (Appeals), CGST and Excise, Bhopal on 12.01.2024 with mandatory appeal Pre-deposit of ` 2.76 lakh

Search of the factory premises of the Company Writ petition filed before Rajasthan High Court on in Bhiwadi, Rajasthan was conducted by the GST 20.02.2024. Recovery/coercive action has been Department on 14th August, 2023. The concerned stayed till next hearing vide order dt 06.03.2024. officials had perused certain documents and asked for Till date total payment made under protest is certain additional documents pertaining to claim of 5.50 Cr (Tax 4 Cr + Interest ` 1.50 Cr) GST credit. These will be provided in due course

4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide a web-link to the policy.

We strictly abide by our Code of Conduct and have a well implemented Whistle-blower Policy, demonstrating our dedication to ethical behaviour, anti-corruption, and upholding the highest standards of integrity. We have implemented a vigil mechanism enabling directors and employees to report any concerns related to unethical behaviour, fraud, or violations of the organization’s code of conduct. These policies can be accessed at https://www.srf.com/about-overview/working-at-srf/.

5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement agency for the charges of bribery/ corruption:

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----- Start of picture text -----

FY 2023-24 FY 2022-23
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Directors	0	0
KMPs	0	0
Employees	0	0
Workers	0	0

105

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6. Details of complaints with regard to conflict of interest:

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FY 2023-24 FY 2022-23
Number Remarks Number Remarks
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----- Start of picture text -----

||||||
|---|---|---|---|---|
|Number of complaints received|
|in relation to issues of Conflict of|0|Nil|0|Nil|
|Interest of the Directors|
|Number of complaints received|
|in relation to issues of Conflict of|0|Nil|0|Nil|
|Interest of the KMPs|

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7. Provide details of any corrective action taken or underway on issues related to fines / penalties / action taken by regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflicts of interest.

No fines/penalties were imposed by regulators/ law enforcement agencies/ judicial institutions, on account of bribery/corruption and conflict of interest.

**8. Number of days of accounts payables (Accounts payable *365) / Cost of goods/services procured) in the following format:**

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||||
|---|---|---|
|FY 2023-24|FY 2022-23|
|Number of days of accounts payables|111.24|108.60|

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Note: BRSR Core Indicator.

9. Open-ness of business Provide details of concentration of purchases and sales with trading houses, dealers, and related parties along-with loans and advances & investments, with related parties, in the following format:

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Parameter Metrics FY 2023-24 FY 2022-23
----- End of picture text -----

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----- Start of picture text -----

||||
|---|---|---|
|Concentration|a. Purchases from trading houses as % of total|
|31.84%|35.21%|
|of Purchases|purchases|
|b. Number of trading houses where purchases|
|2184|2369|
|are made from|
|c. Purchases from top 10 trading houses as % of|
|44.31%|45.14%|
|total purchases from trading houses|
|Concentration|a. Sales to dealers / distributors as % of total|
|27.32%|30.12%|
|of Sales|sales|
|b. Number of dealers / distributors to whom|
|689|662|
|sales are made|
|c. Sales to top 10 dealers / distributors as % of|
|35.80%|35.70%|
|total sales to dealers / distributors|
|Share of|a. Purchases (Purchases with related parties /|
|0.08%|0.42%|
|RPTs in|Total Purchases)|
|b. Sales (Sales related parties / Total Sales)|0.93%|1.04%|
|c. Loans & advances (Loans & advances given to|
|83.35%|89.84%|
|related parties /Total loans & advances)|
|d. Investments (Investments in related parties /|
|49.13%|15.21%|
|Total Investments made)|

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Note: BRSR Core Indicator.

106

Annual Report [2023-24]

PRINCIPLE 2: Businesses should provide goods and services in a manner that is sustainable and safe

Essential Indicators

1. Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the environmental and social impacts of product and processes to total R&D and capex investments made by the entity, respectively.

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----- Start of picture text -----

Details of improvements in environmental and social
FY 2023-24 FY 2022-23
impacts
----- End of picture text -----

R&D	-	-	While the Company has taken multiple initiatives and makes
			signifcant investments in development of sustainable and
			green technologies, however we have not measured the
			impact specifcally
Capex	13.98%	3.45%	Capex includes projects under renewable energy installations,
			emissions reduction, mitigating environmental impacts,
			enhancing health and safety of our workforce, and building
			requisite communityinfrastructure

2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No)

SRF is committed towards sustainably sourcing its raw materials. Our internal systems and processes promote procurement of goods from suppliers having good ESG practices. Additionally, we constantly work towards maintaining sustainable relationships with our supply chain partners by building trust, ensuring fair treatment, and transparency in all procurement-related decisions.

SRF also undertakes the ‘Supplier Quality System’ assessment wherever possible by evaluating them on various parameters like resource management, compliance with environmental requirements & certifications, storage etc. Our aim is to work closely with our suppliers on a continuous basis to enhance their capabilities, creating a win-win situation for both.

b. If yes, what percentage of inputs were sourced sustainably?
71.88% (including procurement of capital goods and excluding fuel and services)

3. Describe the processes in place to safely reclaim your products for reusing, recycling and disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.

We have established our capability to recycle non-usable metallised film by unique demetallisation process. This process has resulted in reduced input of virgin raw material.

4. Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No). If yes, whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted to Pollution Control Boards? If not, provide steps taken to address the same.

EPR is applicable to our activities. We are in the process of securing necessary registration wherever applicable and setting up process and system for robust compliance with Plastic Waste Management Rules.

107

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PRINCIPLE 3: Businesses should respect and promote the well-being of all employees, including those in their value chains

Essential Indicators

a. Details of measures for the well-being of employees:	a. Details of measures for the well-being of employees:	a. Details of measures for the well-being of employees:
Category	Total (A)	% of employees covered by
		Health insurance Accident insurance Maternity benefts Paternity Benefts Day Care facilities
		Number (B) % (B /A) Number (C) % (C / A) Number (D) % (D / A) Number (E) % (E /A) Number (F) % (F / A)
		Permanent employees
Male Female Total	3,295 285 3,580	3,295 100 3,295 100 - - 3,295 100 2,958 90 285 100 285 100 285 100 - - 271 95 3,580 100 3,580 100 285 8 3,295 92 3,229 90
		Otherthan Permanent employees
Male Female Total	30 - 30	30 100 30 100 - - 30 100 30 100 - - - - - - - - - - 30 100 30 100 - - 30 100 30 100

Details of measures for the well-being of workers	Details of measures for the well-being of workers	Details of measures for the well-being of workers
Category	Total (A)	% of workers covered by
		Health insurance Accident insurance Maternity benefts Paternity Benefts Day Care facilities
		Number (B) % (B /A) Number (C) % (C / A) Number (D) % (D / A) Number (E) % (E /A) Number (F) % (F / A)
		Permanent workers
Male Female Total	3,738 54 3,792	3,738 100 3,738 100 - - 3,738 100 3,186 85 54 100 54 100 54 100 - - 40 74 3,792 100 3,792 100 54 1.4 3,738 98.6 3,226 85
		Other than Permanent workers
Male Female Total	7,787 367 8,154	7,787 100 7,787 100 - - 0 0 6,924 89 367 100 367 100 367 100 - - 312 85 8,154 100 8,154 100 367 4.5 0 0 7,236 89

c. Spending on measures towards well-being of employees and workers (including permanent and other than permanent) in the following format

	FY 2023-24	FY 2022-23
Cost incurred on well-being measures as a % of total revenue of the company	0.34	Not measured

Note: BRSR Core Indicator.

2. Details of retirement benefits, for Current FY and Previous Financial Year

Benefts	FY 2023-24 FY 2022-23
	No. of employees covered as a % of total employees No. of workers covered as a % of total workers Deducted and deposited with the authority (Y/N/N.A.) No. of employees covered as a % of total employees No. of workers covered as a % of total workers Deducted and deposited with the authority (Y/N/N.A.)
PF Gratuity ESI	100 100 Y 100 91 Y 99 100 N.A. 100 91 N.A. 1 3 Y 2 6 Y

Benefts

FY 2023-24
FY 2022-23

No. of
employees
covered as
a % of total
employees
No. of
workers
covered as
a % of total
workers
Deducted and
deposited
with the
authority
(Y/N/N.A.)
No. of
employees
covered as a
% of total
employees
No. of
workers
covered as
a % of total
workers
Deducted and
deposited
with the
authority
(Y/N/N.A.)

PF
Gratuity
ESI

100
100
Y
100
91
Y
99
100
N.A.
100
91
N.A.
1
3
Y
2
6
Y

108

Annual Report [2023-24]

3. Accessibility of workplaces

Are the premises / offices of the entity accessible to differently abled employees and workers, as per the requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the entity in this regard.

We believe in creating a work environment where everyone feels valued, respected, and empowered to reach their full potential. This includes ensuring a safe and inclusive space for all. Our facilities are equipped with elevators, ramps with suitable inclines, accessible restrooms, and a well-designed seating layout to ensure effortless movement and comfortable seating for people with disabilities.

Our commitment to inclusivity is evident in our approach to ensuring accessibility for people with disabilities (PwD). Complete audits across all our facilities have been conducted to identify and rectify any obstacles to accessibility, thus fostering an environment where all our employees can contribute to their full potential.

4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so, provide a web-link to the policy.

We have a well-defined Human Rights policy and a Code of Conduct in place that embodies the principle of equal opportunity for all. We guarantee equal employment and developmental opportunities without discriminating on factors such as religion, caste, language, region, gender (male, female, or transgender), age, sex, sexual orientation, physical abilities, etc. For further information, please refer the section on Human Rights and view our Human Rights policy on. https://www.srf.com/wp-content/uploads/2022/01/ SRF-Human-Rights-Policy.pdf.

5. Return to work and Retention rates of permanent employees and workers that took parental leave.

	Permanent employees	Permanent employees	Permanent workers	Permanent workers
Gender	Return to work rate	Retention rate	Return to work rate	Retention rate
Male	100%	84%	100%	91%
Female	91%	60%	100%	100%
Total	100%	83%	100%	91%

6. Is there a mechanism available to receive and redress grievances for the following categories of employees and worker? If yes, give details of the mechanism in brief.

Yes/No (If Yes, then give details of the mechanism in brief) Permanent Workers Yes, SRF has established Grievance Redressal Mechanisms for all employees and workers. Our People Redbook Systems at Other than Permanent Workers various locations serves as platforms for employees to express their grievances. They can submit complaints and suggestions Permanent Employees anonymously through designated boxes in offices and plants. The grievance procedures ensure a fair and confidential resolution Other than Permanent Employees process.

109

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7. Membership of employees and worker in association(s) or Unions recognised by the listed entity:

		FY 2023-24			FY 2022-23
	Total employees / workers in respective category (A)	No. of employees / workers in respective category, who are part of association (s) or Union(B)	% (B/A)	Total employees / workers in respective category (C)	No. of employees / workers in respective category, who are part of association(s) or Union(D)	% (D/C)
Total Permanent Employees	3,580	0	0	3,276	85	3
Male	3,295	0	0	3,049	81	3
Female	285	0	0	227	4	2
Total Permanent Workers	3,792	1,163	31	3,895	986	25
Male	3,738	1,115	30	3,771	957	25
Female	54	48	89	124	29	23

8. Details of training given to employees and workers:

Category		FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23
	Total (A)	On Health and safety measures On Skill upgradation Total (D) On Health and safety measures On Skill upgradation No. (B) % (B / A) No. (C) % (C / A) No. (E) % (E / D) No. (F) % (F / D)
			No. (E) % (E / D) No. (F) % (F / D)
		Employees
Male Female Total	3,325 285 3,610	2,053 62 2,909 87 3,049 107 38 196 69 227 2,160 60 3,105 86 3,276	1,925 63 2,228 73 98 43 136 60 2,023 62 2,364 72
		Workers
Male Female Total	3,738 54 3,792	2,217 59 2,269 61 3,771 39 72 27 50 124 2,256 59 2,296 61 3,895	2,284 61 2,403 64 111 90 105 85 2,395 61 2,508 64

9. Details of performance and career development reviews of employees and workers:

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----- Start of picture text -----

Category FY 2023-24 FY 2022-23
Total (A) No. (B) % (B / A) Total (C) No. (D) % (D / C)
----- End of picture text -----

			Employees
Male	3,325	3,317	100	3,049	3,049	100
Female	285	285	100	227	227	100
Total	3,610	3,602	100	3,276	3,276	100
			Workers
Male	3,738	3,738	100	3,771	3,771	100
Female	54	54	100	124	124	100
Total	3,792	3,792	100	3,895	3,895	100

110

Annual Report [2023-24]

10. Health and safety management system:

a) Whether an occupational health and safety management system has been implemented by the entity? (Yes/ No). If yes, the coverage such system?

We acknowledge safety and health as integral part of our operations. Our Health & Safety Policy guarantees a secure and healthy workplace for everyone. In accordance with the policy, we have implemented comprehensive safety management systems in all our plants. This includes

Undertaking periodic safety assessments by designated inhouse safety officer for identifying hazards, and implementing tangible interventions to enhance workplace
Providing awareness campaigns and training of workforce on safe operations, chemical safety, ergonomics etc

We have an Occupational Health Centre (OHC) in our plants which caters to any type of injury sustained by a worker or an employee. The OHC is managed round the clock by qualified doctors and trained paramedic staff.

b) What are the processes used to identify work-related hazards and assess risks on a routine and non-routine basis by the entity?

We conduct Hazard Identification and Risk Assessment (HIRA) as well as Hazard and Operability (HAZOP) studies to identify hazards related to workplace. Based on outcomes of HIRA and HAZOP, the safety department across our facilities update their operational control procedures and management programs to address risks associated with these hazards.

Annual audits and inspections are conducted to identify risks, address areas of concern, and minimize the occurrence of workplace accidents. Third-party auditors assess our plants and offices to verify the health, safety, and working conditions of our workplace. For further details, please refer to the section on Occupational Health & Safety.

c) Whether you have processes for workers to report the work-related hazards and to remove themselves from such risks. (Y/N)

We have a systematic method in place for reporting any work-related hazards identified within our facilities. Workers undergo regular training and awareness sessions to help them recognize work-related hazards.

Furthermore, all individuals are encouraged to report work-related hazards through our portal and to the designated Plant EHS (SPOC) to facilitate prompt corrective action.

d) Do the employees/ worker of the entity have access to non-occupational medical and healthcare services? (Yes/ No)

Our Occupational Health Centers are managed by qualified doctors, trained paramedic staff. In addition to response to occupational injuries, they also cater to non-occupational medical and healthcare advice in general.

111

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11. Details of safety related incidents, in the following format:

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----- Start of picture text -----

Safety Incident/Number Category FY 2023-24 FY 2022-23
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Lost Time Injury Frequency Rate (LTIFR)	Employees	0.18	0
(per one million-person hours worked)	Workers	0.19	0.19
Total recordable work-related injuries	Employees	1	0
	Workers	6	5
Number of fatalities	Employees	0	1
	Workers	0	1
High consequence work-related injury or ill-health	Employees	0	0
(excluding fatalities)	Workers	0	0

*Including in the contract workforce

Note: BRSR Core Indicator.

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.

SRF is dedicated to maintaining its workplace free from injuries. The Company endeavours to attain zero injuries, fatalities, incidents, or accidents in all its plants and manufacturing units. Emergency response plans, safety procedures, and processes have been implemented throughout the organization to guarantee a healthy and safe workplace.

Moreover, EHS committees have been established across plants to foster a culture of safety throughout the organization. SRF has implemented systems to monitor and address any safety related issue such as unsafe acts, unsafe practices, near miss etc. This helps in ensuring proactive identification and avoidance of safety incidents.

13. Number of Complaints on the following made by employees and workers:

	FY 2023-24 FY 2022-23
	Filed during the year Pending resolution at the end of year Remarks Filed during the year Pending resolution at the end of year Remarks
WorkingConditions	0 0 None 0 0 None
Health & Safety	0 0 None 0 0 None

14. Assessments for the year:

% of your plants and offices that were assessed (by entity or statutory authorities or third parties) Health and safety practices 100 Working Conditions

15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on significant risks / concerns arising from assessments of health & safety practices and working conditions.

None

112

Annual Report [2023-24]

PRINCIPLE 4: Businesses should respect the interests of and be responsive to all its stakeholders Essential Indicators

1. Describe the processes for identifying key stakeholder groups of the entity.

We take a proactive approach to engage with our stakeholders (both internal and external) to understand their perspectives, receive feedback and address any issues that are important to them. Through the Stakeholder Engagement and Materiality Assessment (SEMA) process, we identify our stakeholders namely employees, suppliers, dealers, customers, shareholders / investors, communities surrounding the operations and government / regulatory authorities and give utmost importance to healthy relationship and continuous engagement with them.

2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group.

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----- Start of picture text -----

Stakeholder Whether Channels of Frequency of Purpose and scope of engagement
Group identified as communication (Email, engagement including key topics and concerns
Vulnerable & SMS, Newspaper, (Annually/ raised during such
Marginalized Pamphlets, Advertisement, Half yearly/ Engagement
Group Community Meetings, Quarterly/
(Yes/No) Notice Board, Website), others please
Other specify)
----- End of picture text -----

Regulatory	No	•Adherence to reporting	As per	•Regulatory compliance
Bodies		requirements	requirement	•Operational efciency
		•Industry representation on		•Development of communities
		key matters		•Management of environmental impact
				•Occupational Health and Safety
				•Emergency Preparedness
				•Air and GHG emissions
				•Biodiversity and resource conservation
				•Waste management
Shareholders	No	•Company website	As per	•Financial Performance
		•Quarterly publication of	requirement	•Business Risk Management
		results followed by earning		•Foray into new markets
		call		•Optimising operational costs
		•Periodic Analysts’ briefng		•Corporate governance
		and individual discussions		•Ethics and value
		between fund managers		•Energy efciency
		and the management team		•Renewable energy
		•Communication with		•Delivery of timely service
		shareholders to provide
		service
Suppliers	No	•Supplier evaluation	As per	•Pricing, quality and safety of raw
		programme	requirement	materials
		•Periodic meetings Visits to		•Issues related with human rights
		supplier’s facilities		•Local employment
				•Materials

113

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Customers	No	•Customer visits / audit and	As per	•Product innovation and lifecycle
		meetings	requirement	efciency
		•Customer recognition/		•Service quality
		awards programmes		•Resolution of Customer Complaints
		•Customer satisfaction		•Quality and Safety of Products
		surveys		•Pricing of Products
		•Joint development &		•Branding
		product reengineering
Employees	No	•IT enablement &	As per	•Career growth prospects
		digitisation	requirement	•Learning and development programs
		•Structured and focussed		•Trainings
		training programmes		•Rewards and Recognition
		•Employee oriented work		•Occupational Health and Safety
		policies		•Work environment and policies
		•Adequate grievance		•Grievance redressal mechanism
		mechanism for reporting		•Ethics and transparency
		and redressal		•TQM
		•Fair and transparent		•Emergency preparedness
		performance management		•Labour conditions
		systems and 360-degree
		feedback process
		•Periodic open house
		meetings with senior
		leadership teams
		•Regular employee
		engagement and feedback
		surveys
Local	No	•Social impact assessment	As per	•Social concerns in the region
communities		•Joint development and	requirement	•Minimising negative environmental
		partnership with local		impact
		agencies, network partners		•Local employment
		for servicing wider set of
		local communities
		•Local Infrastructure
		development, structured
		learning by digital
		classrooms training,
		providing scholarships, and
		other necessary support
Bankers	No	•In-person meetings	As per	•Transactional banking – deposits,
		•Digital interface	requirement	withdrawals, transfers
		•Email		•Loans and credit lines
				•Investments and related advisory
				services
				•Forex management
				•New banking products

114

Annual Report [2023-24]

PRINCIPLE 5: Businesses should respect and promote human rights Essential Indicators

1. Employees and workers who have been provided training on human rights issues and policy (ies) of the entity, in the following format:

Category	FY 2023-24 FY 2022-23
	Total (A) No. of employees / workers covered(B) % (B/A) Total (C) No. of employees / workers covered(B) %(D/C)
	Employees
Permanent Other than permanent Total Employees	3,580 2,467 69 3,276 2,552 78 30 5 17 - - - 3,610 2,472 68 3,276 2,552 78
	Workers
Permanent Other than permanent Total Workers	3,792 1,301 34 3,895 3,045 78 8,154 2,824 35 7,084 4,785 68 11,946 4,125 35 10,979 7,830 71

2. Details of minimum wages paid to employees and workers, in the following format:

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----- Start of picture text -----

Category FY 2023-24 FY 2022-23
Total Equal to More than Total (D) Equal to More than
(A) Minimum Wage Minimum Wage Minimum Wage Minimum Wage
No. % No. % No. % No. %
(B) (B /A) (C) (C / A) (E) (E / D) (F) (F / D)
----- End of picture text -----

				Employees	Employees
Permanent
Male	3,295	0	0	3,295	100	3,049	0	0	3,049	100
Female	285	0	0	285	100	227	0	0	227	100
Other than
Permanent
Male	30	0	0	30	100	0	-	-	-	-
Female	-	-	-	-	-	-	-	-	-	-
Workers
Permanent
Male	3,738	0	0	3,738	100	3,771	0	0	3,771	100
Female	54	0	0	54	100	124	0	0	124	100
Other than
Permanent
Male	7,787	619	8	7,168	92	6,768	1,356	20	5,412	80
Female	367	199	54	168	46	316	181	57	135	43

115

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3. Details of remuneration/salary/wages a. Median remuneration/wages:

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----- Start of picture text -----

||||||
|---|---|---|---|---|
|Male|Female|
|Number|Number Median|Number|Number Median|
|remuneration/ salary / wages|remuneration/ salary/|
|of respective category (in INR)|wages of respective category|
|(in INR)|
|Board of Directors|9|21,80,000|1|21,00,000|
|(BoD|
|Key Managerial|8|8,98,03,165|0|-|
|Personnel|
|Employees other|3,317|8,26,959|285|7,59,000|
|than BoD and KMP|
|Workers|3,738|4,80,000|54|3,43,086|

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b. Gross wages paid to females as % of total wages paid by the entity, in the following format:

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----- Start of picture text -----

||||
|---|---|---|
|FY 2023-24|FY 2022-23|
|Gross wages paid to females as % of total wages|5.04%|Not measured|

----- End of picture text -----

Note: BRSR Core Indicator.

4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues caused or contributed to by the business? (Yes/No)

SRF Limited acknowledges, respects, and upholds ‘Human Rights’ and is dedicated to ensuring the protection of the rights by ensuring a safe, secure, and healthy working environment for all its workforce. SRF has formed a Values Steering Committee consisting of the Joint Managing Director (JMD) and senior-level employees as its members. The responsibility of our Values Steering Committee includes addressing human rights concerns raised by the organization’s employees and workers.

5. Describe the internal mechanisms in place to redress grievances related to human rights issues.

We possess a strong mechanism to handle grievances regarding violation of human rights. Any human rights issue raised by a worker or employee can be reported to the organization’s Values Steering Committee or any of its members. The Values Steering Committee will designate resources to conduct investigations based on the reported issue’s nature and proceed with necessary actions to address it in the best interests of both the aggrieved individual and the organization.

6. Number of Complaints on the following made by employees and workers:

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----- Start of picture text -----

||||||||
|---|---|---|---|---|---|---|
|FY 2023-24|FY 2022-23|
|Pending|Pending|
|Filed|Filed|
|resolution|resolution|
|during the|Remarks|during the|Remarks|
|at the end|at the end|
|year|year|
|of year|of year|
|Sexual Harassment|0|0|None|2|0|None|
|Discrimination at workplace|0|0|None|1|0|None|
|Child Labour|0|0|None|0|0|None|
|Forced Labour/ Involuntary|
|0|0|None|0|0|None|
|Labour|
|Wages|0|0|None|0|0|None|
|Other human rights related|
|2|0|None|0|0|None|
|issues|

----- End of picture text -----

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Annual Report [2023-24]

7. Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, in the following format:

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----- Start of picture text -----

FY 2023-24 FY 2022-23
----- End of picture text -----

Total Complaints reported under Sexual Harassment on of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH)	0	2
Complaints on POSH as a % of female employees/ workers Complaints on POSH upheld	0 0	0.28 0

Note: BRSR Core Indicator.

8. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases.

SRF has strong mechanism in place to protect the complainant in discrimination and harassment cases. The mechanism includes safeguarding the complainant from any adverse action which includes discrimination, victimization, retaliation, demotion, and/or adoption of any unfair employment practices.

9. Do human rights requirements form part of your business agreements and contracts?

SRF Limited recognises, respects, and reinforces ‘Human Rights’ and is committed towards protection of such rights. We encourage our suppliers to be fully compliant with applicable laws and to adhere environmental, social and corporate governance standards (ESG standards). We intent to foster relationship with suppliers having robust Environment Health and Safety (EHS) practices.

10. Assessments for the year:

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----- Start of picture text -----

% of your plants and offices that were assessed
(by entity or statutory authorities or third parties)
Child labour 100
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Forced/involuntary labour Sexual harassment Discrimination at workplace Wages	100 100 100 100

11. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 10 above. Not applicable

2008

Acquisition of Thai Baroda Industries Limited plant in Rayong, Thailand

SRF acquired the Thai Baroda Industries Limited plant in Rayong, Thailand that manufactured Nylon 6 tyre cord fabric.

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PRINCIPLE 6: Businesses should respect and make efforts to protect and restore the environment

Essential Indicators

1. Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format:

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----- Start of picture text -----

Parameter FY 2023-24 FY 2022-23
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From renewable sources
Total electricity consumption (A) (TJ)	518	371
Total fuel consumption (B) (TJ)	718	830
Energy consumption through other sources (C) (TJ)	-
Total energy consumed from renewable sources (A+B+C)	1,236	1,201
From non-renewable sources
Total electricity consumption (D) (TJ)	2,094	1,602
Total fuel consumption (E) (TJ)	9,350	10,109
Energy consumption through other sources (F) (TJ)	-
Total energy consumed from non-renewable sources (D+E+F)	11,444	11,711
Total energy consumed (A+B+C+D+E+F)	12,680	12,912
Energy intensity per rupee of turnover(Total energy	1.18	1.07
consumed/ Revenue from operations) (TJ/INR Cr)
Energy intensity per rupee of turnover adjusted for	0.32	0.30
Purchasing Power Parity (PPP)(Total energy consumption/
Revenue from operations adjusted for PPP) (TJ/INR Crore)
Energy intensity in terms of physical output (TJ/MT)	0.029	Not measured

Note: “Reasonable assurance has been carried out by BDO India LLP on above indicator”.

2. Does the entity have any sites / facilities identified as designated consumers (DCs) under the Performance, Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under the PAT scheme have been achieved. In case targets have not been achieved, provide the remedial action taken, if any. Not applicable

2008

SRF Industex Belting (Pty) Limited

SRF acquired the belting fabrics business of Industex Technical Textiles (Pty) Limited, a South African company. The acquisition cost approximately INR 20 crore. Post the acquisition, the new entity was named SRF Industex Belting (Pty) Limited.

In 2018, the South African subsidiary was assessed to have become unviable and hence the operations were closed.

118

Annual Report [2023-24]

3. Provide details of the following disclosures related to water, in the following format:

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----- Start of picture text -----

Parameter FY 2023-24 FY 2022-23
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Water withdrawal by source (in kilolitres)
(i) Surface water	-	-
(ii) Groundwater	8,41,756	10,25,296
(iii) Third party water	45,78,441	42,75,483
(iv) Seawater / desalinated water	-	-
(v) Others (Rainwater harvesting)	29,054	58,362
Total volume of water withdrawal (in kilolitres)	54,49,252	53,59,141
(i + ii + iii + iv + v)
Total volume of water consumption (in kilolitres)	48,69,028	46,76,294
Water intensity per rupee of turnover (Total Water consumed /	4.51	3.87
Revenue from operations) (KL/INR Lakhs)
Water intensity per rupee of turnover adjusted for Purchasing Power	1.24	1.08
Parity (PPP) (Total water consumption/ Revenue from operations
adjusted for PPP) (KL/INR Lakhs)
Water intensity in terms of physical output (Total water consumed/	11.30	Not measured
Total Production) (KL/MT)

Note: “Reasonable assurance has been carried out by BDO India LLP on above indicator”.

4. Provided the following details related to water discharged:

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----- Start of picture text -----

Parameter FY 2023-24 FY 2022-23
----- End of picture text -----

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Wat	er discharge by destination and level of treatment (in kilolitr	es)
(i)	To Surface water	-	-
	- No treatment	-	-
	- With treatment – please specify level of treatment	12,018	12,634
		Tertiary treatment	Tertiary treatment
(ii)	To Groundwater	-	-
	- No treatment	-	-
	- With treatment – please specify level of treatment	-	-
(iii)	To Seawater	-	-
	- No treatment	-	-
	- With treatment – please specify level of treatment	5,68,206	6,59,453
		Tertiary treatment	Tertiary treatment
(iv)	Sent to third parties	-	-
	- No treatment	-	-
	- With treatment – please specify level of treatment	-	-
(v)	Others	-	-
	- No treatment	-	-
	- With treatment – please specify level of treatment	-	-
Total water discharged(in kilolitres)		5,80,224	6,72,087

Note: “Reasonable assurance has been carried out by BDO India LLP on above indicator”.

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5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and implementation.

Water conservation is one of our material topic. SRF is committed in optimising use of water by implementing water efficient technologies, recycling and reusing treated wastewater in operations. Our Chemicals plant in Bhiwadi, Technical Textiles Business units Manali, Viralimalai and Gwalior and Packaging Films Business units are zero liquid discharge. Other locations have wastewater treatment plants ensuring quality and quantity of wastewater discharged is within permissible limits set by the respective Pollution Control Boards.

6. Please provide details of air emissions (other than GHG emissions) by the entity, in the following format:

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----- Start of picture text -----

Parameter Unit of Measurement FY 2023-24 FY 2022-23
----- End of picture text -----

NOx	MT/Annum	428.65	490.31
SOx	MT/Annum	677.53	646.79
Particulate Matter (PM)	MT/Annum	202.56	263.34
Persistent organic pollutants (POP)	-	Not measured	Not measured
Volatile organic compounds (VOC)	-	Not measured	Not measured
Hazardous airpollutants(HAP)	-	Not measured	Not measured

7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity, in the following format:

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----- Start of picture text -----

Parameter Unit FY 2023-24 FY 2022-23
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Total Scope 1 emissions	Metric tonnes of	9,45,442	10,89,283
(Break-up of the GHG into CO2, CH4, N2O,	CO2 equivalent
HFCs, PFCs, SF6, NF3, if available)
Total Scope 2 emissions	Metric tonnes of	4,16,445	3,15,771
(Break-up of the GHG into CO2, CH4, N2O,	CO2 equivalent
HFCs, PFCs, SF6, NF3, if available)
Total Scope 1 and Scope 2 emissions	tCO2e/ INR Lakhs	1.26	1.16
intensity per rupee of turnover (Total Scope
1 and Scope 2 GHG emissions / Revenue
from operations)
Total Scope 1 and Scope 2 emission		0.35	0.32
intensity per rupee of turnover adjusted for
Purchasing Power Parity (PPP) (Total Scope	tCO2e/INR Lakhs
1 and Scope 2 GHG emissions/ Revenue
from operations adjusted for PPP)
Total Scope 1 and Scope 2 emission	tCO2e/MT	3.16	Not measured
intensityin terms ofphysical output

Note: “Reasonable assurance has been carried out by BDO India LLP on above indicator”.

8. Does the entity have any project related to reducing Green House Gas emission? If Yes, then provide details.

SRF has increased the procurement of renewable energy in order to reduce the dependency on fossil fuels and reduce greenhouse gas emissions. The share of renewable energy in electricity mix has increased from 371 TJ in FY 2022-23 to 517 TJ in FY 2023-24. Additionally, our company has prioritized enhancing energy efficiency in manufacturing procedures through the adoption of advanced technologies, optimizing equipment efficiencies, and deploying energy management systems.

120

Annual Report [2023-24]

9. Provide details related to waste management by the entity, in the following format:

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Parameter FY 2023-24 FY 2022-23
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Total Waste generated (in metric tonnes)	Total Waste generated (in metric tonnes)
Plastic waste (A)	2,996	2,313
E-waste (B)	5	19
Bio-medical waste (C)	0.02	0
Construction and demolition waste (D)	0	0
Battery waste (E)	5	104
Radioactive waste (F)	0	0
Other Hazardous waste. Please specify, if any. (G)	5,40,189	4,25,959
Other Non-hazardous waste generated (H). Please specify, if
any. (Break-up by composition i.e., by materials relevant to the	75,649	78,922
sector)
Total (A+B + C + D + E + F + G + H)	6,18,845	5,07,316
Waste intensity per rupee of turnover (Total waste generated / Revenue from operations) (MT/INR Lakh)	0.57	0.42
Waste intensity per rupee of turnover adjusted for Purchasing
Power Parity (PPP) (Total waste generated / Revenue from	0.16	0.12
operations adjusted for PPP) (MT/ INR Lakh)
Waste intensity in terms of physical output (Total waste generated/Total production (in MT))	1.43	Not measured
For each category of waste generated, total waste recovered through recycling, re-using or
other recovery operations (in metric tonnes)
Category of waste
(i) Recycled	3,01,819	9,189
(ii) Re-used	1,01,881	3,30,805
(iii) Other recovery operations	1,75,365	69,776
Total	5,79,065	4,09,770
For each category of waste generated, total waste disposed by nature of disposal method		(in metric
tonnes)
Category of waste
(i) Incineration	851	223
(ii) Landflling	38,247	34,753
(iii) Other disposal operations	2	0
Total	39,100	34,976

Note: “Reasonable assurance has been carried out by BDO India LLP on above indicator”.

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10. Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted by your company to reduce usage of hazardous and toxic chemicals in your products and processes and the practices adopted to manage such wastes.

Environment and social responsibility are one of our Aspirations 2030. One of our focus areas under this aspiration is to enhance our focus on the principle of 3R – Reduce, Reuse and Recycle. Consequently, we strive to operate in a ‘closed loop’ through circularity in operations wherever possible.

We have been able to significantly enhance our 3R capabilities by implementing necessary infrastructure by

Ensuring conversion and neutralization of hazardous waste into usable material, disposable in the most environment-friendly manner.
In the PFB, we reduce the use of polymer mass per unit of packaging without compromising on product quality and thereby reducing the use of virgin material at source.
In our technical textile business, metal shell rolls used in the packaging of the fabric rolls are recollected from the domestic customers and reused multiple times.

11. If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones etc.) where environmental approvals / clearances are required, please specify details in the following format:

S. No. Location of operations/ ofces Type of operations Whether the conditions of environmental approval / clearance are being complied with? (Y/N) If no, the reasons thereof and corrective action taken, if any.
None

12. Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in the current financial year:

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----- Start of picture text -----

Name and EIA Date Whether conducted by Results Relevant
brief details Notification independent external communicated in Web Link
of project No. agency (Yes / No) public Domain
(Yes / No)
None
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13. Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India, such as the Water (Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment protection act and rules thereunder (Y/N). If not, provide details of all such non-compliances, in the following format:

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----- Start of picture text -----

S. Specify the law Provide Any fines / penalties / Corrective action
No. / regulation / details of the action taken by regulatory taken, if any
guidelines which was non-compliance agencies such as pollution
not complied with control boards or by courts
None
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122

Annual Report [2023-24]

PRINCIPLE 7: Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent Essential Indicators

1. a. Number of affiliations with trade and industry chambers/associations. 10

b. List the top 10 trade and industry chambers/associations (determined based on the total members of such body) the entity is a member of/affiliated to.

S. No.	Name of the trade and industry chambers/ associations	Reach of trade and industry chambers/ associations (State/National)
1	Confederation of Indian Industry	National
2	Refrigerant Gases Manufacture Association	National
3	Indian Chemical Council	National
4	CHEMEXCIL	National
5	Centre for Chemical Process Safety	National
6	The Synthetic & Rayon Textiles Export Promotion Council	National
7	Indian Technical Textile Association (ITTA)	National
8	Association of Synthetic Fibre Industry	National
9	Indian society for quality	National
10	British SafetyCouncil	National

2. Provide details of corrective action taken or underway on any issues related to anticompetitive conduct by the entity, based on adverse orders from regulatory authorities.

Name	of	authority Brief	of	the	case Corrective	action	taken
					None

PRINCIPLE 8: Businesses should promote inclusive growth and equitable development Essential Indicators

1. Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on applicable laws, in the current financial year.

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----- Start of picture text -----

Name SIA Date of Whether conducted by Results Relevant
and brief Notification notification independent external communicated in Web link
details of No. agency (Yes / No) public domain (Yes
project / No)
None
----- End of picture text -----

2. Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken by your entity.

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----- Start of picture text -----

S. Name of State District No. of Project % of PAFs Amounts paid
No. Project for Affected Families covered by to PAFs in the
which R&R (PAFs) R&R FY (In INR)
is ongoing
None
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3. Describe the mechanisms to receive and redress grievances of the community.

The Company has a robust grievance mechanism to receive and redress complaints or any concerns raised by the community. We constantly engage with local communities through various means such as personal visits, surveys, meetings, letter etc. to understand their concerns and take appropriate actions to resolve them. Community members can also reach us through a dedicated section under “Contact us” tab of our website.

4. Percentage of input material (inputs to total inputs by value) sourced from suppliers.

	FY 2023-24	FY 2022-23
Directly sourced from MSMEs/ small producers	25.54%*	16.95%
Directlyfrom within India	72.93%	70.25%

*Services are included in FY 2023-24

Note: BRSR Core Indicator.

5. Job creation in smaller towns – Disclose wages paid to persons employed (including employees or workers employed on a permanent or non-permanent/ on contract basis) in the following locations, as % of total wage cost

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----- Start of picture text -----

Location FY 2023-24 FY 2022-23
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Rural	-
Semi-urban Urban	52% 14%	Not	measured
Metropolitan	34%

(Place categorized as per RBI Classification System – rural/ semi-urban/ urban/ metropolitan)

Note: BRSR Core Indicator.

PRINCIPLE 9: Businesses should engage with and provide value to their consumers in a responsible manner

Essential Indicators

1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback.

Customer advocacy is one of our Aspirations 2030. We aim to nurture our relationships with our customers, so we remain a preferred partner of choice and further recommendation.

We have a robust mechanism for resolution of customer complaints. Our customers can reach out to us or raise their complaints through a “Contact us” tab of our website. Their queries are addressed and complaints are resolved promptly.

Additionally, our marketing and customer relationship management team regularly engages with customers through visits/surveys and meetings to understand their feedback and subsequently incorporate into our solutions. We also conduct periodic consumer satisfaction surveys to seek detailed consumer feedback on our solutions.

2. Turnover of products and/services as a percentage of turnover from all products/service that carry information about:

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----- Start of picture text -----

As a percentage to total turnover
----- End of picture text -----

Environmental and social parameters relevant to the product	100%
Safe and responsible usage	100%
Recyclingand/or safe disposal	Not Applicable

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Annual Report [2023-24]

3. Number of consumer complaints in respect of the following:

	FY 2023-24 FY 2022-23
	Received during the year Pending resolution at end of year Remarks Received during the year Pending resolution at end of year Remarks
Data privacy Advertising Cyber-security Delivery of essential services Restrictive Trade practices Unfair Trade Practices Others	0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 0 0 None 520 5 None 440 56 None

4. Details of instances of product recalls on account of safety issues:

	Number	Reasons for recall
Voluntary recalls	0	Not applicable
Forced recalls	0	Not applicable

5. Does the entity have a framework/policy on cyber security and risks related to data privacy? (Yes/No) If available, provide a web-link of the policy.

Ensuring the security and confidentiality of the Company’s information and associated data is vital for its sustained operations and trust of stakeholders. SRF has a well-defined cyber security policy and implementation framework. The said policy can be accessed at https://www.srf.com/wp-content/ uploads/2024/03/Cyber-Security-Policy.pdf

Some of our key strategies to mitigate Cybersecurity risks are mentioned below:

Implementation of new perimeter security mechanisms such as dual firewalls, internet/email content filtering, Secure VPNs etc.
Secure data centres, identity and password management with multi factor authentication
Control of privileged user (IT support team) access through PIM/PAM solutions
Awareness sessions on cybersecurity risks conducted for employees on regular basis.
Implementation of mobile device management for users with critical data leak risk
Classification and encryption of Intellectual property with IRM solutions to protect against data exfiltration.
Ensuring adequate upgradation, maintenance, segregation and micro segmentation of servers, network and IT-OT zones
Devices for added security and data protection.
Security events management and monitoring tools managed through a 24x7 SOC.
Modern anti-malware and EDR solutions deployed on all end points and servers.
Periodic automated vulnerability assessment and patch management
Regular backups sufficiently segregated to ensure recovery in the event of any compromise.

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6. Provide details of any corrective actions taken or underway on issues relating to advertising, and delivery of essential services; cyber security and data privacy of customers; reoccurrence of instances of product recalls; penalty / action taken by regulatory authorities on safety of products / services.

Not applicable

7. Provide the following information relating to data breaches:

a. Number of instances of data breaches along-with impact None
b. Percentage of data breaches involving personally identifiable information of customers None
c. Impact, if any, of the data breaches None

Note: BRSR Core Indicator

2009

Polyester Industrial Yarn

We commenced commercial production of Polyester Industrial Yarn in May 2009 with a capacity of 14,500 Metric Tonnes per Annum. Located in Gummidipoondi (Tamil Nadu, India), the manufacturing facility takes pride in its state-of-the-art technology installation from Toray Industries, Japan.

126

Annual Report [2023-24]

Independent Assurance Statement

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assurance’ section below. We do not accept or assume any responsibility for any other purpose or to any other person or organization. Any reliance a third party may place on the Report is entirely at its own risk.

To,

SRF Limited The Galleria, DLF Mayur Vihar, Unit No. 236 & 237, Second Floor, Mayur Place, Noida Link Road, Mayur Vihar Phase-1 Extn, Delhi 110 091

Assurance standard

We conducted our assurance engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised), “Assurance Engagements Other than Audits or Reviews of Historical Financial Information” and ISAE 3410, “Assurance Engagements on Greenhouse Gas Statement” issued by the International Auditing and Standards Board. We applied the criteria of ‘Reasonable’ assurance.

Independent Assurance Statement to SRF Limited on BRSR Core non-financial sustainability disclosures in the Business Responsibility and Sustainability Report for the financial year 2023-24.

Introduction and objective of engagement

SRF Limited (the ‘Company’) has developed its Business Responsibility and Sustainability Report (BRSR) (the ‘Report’) based on the BRSR reporting guidelines including the BRSR Core indicators prescribed by SEBI for listed entities. The reporting criteria have been derived from the Principles of National Guidelines on Responsible Business Conduct (NGRBC), and Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard.

Scope & boundary of assurance

We have assured non-financial information of the BRSR Core indicators[1] in the Report, pertaining to Company’s performance for the period 1st April 2023 through 31st March 2024.

The scope and boundary of Company’s reporting as well as our assurance cover the Company’s operations as defined in Section A (General Disclosures) of the Report.

BDO India LLP was engaged by the Company to provide independent assurance on BRSR Core indicators of the Report that includes the Company’s performance for the period 1st April 2023 through 31st March 2024.

Assurance methodology

Our assurance process entailed conducting procedures to gather evidence regarding the reliability of the disclosures covered in the assurance scope.

The Company’s responsibilities

The report content and its presentation are the sole responsibilities of the management of the Company. The Company management is also responsible for the design, implementation, and maintenance of internal controls relevant to the preparation of the Report, so that it is free from material misstatement.

Verification of non-financial sustainability performance data, was conducted at the following manufacturing facilities, on a sample basis, based on our professional judgement:

Chemical Business: Dahej and Bhiwadi Site

BDO’s responsibilities

Packaging Films Business: Indore Site [Domestic Tariff Area 1 (DTA1), Domestic Tariff Area 2 (DTA2), Special Economic Zone (SEZ)] and Kashipur Site

BDO’s responsibility, as agreed with the management of the Company, is to provide reasonable assurance on the non-financial information of the BRSR Core indicators as described in the ‘Scope & boundary of

1 SEBI vide SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12 July 2023

127

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These manufacturing facilities, combined, represent approximately 80% of the revenue generated by the Company.

We conducted a review and verification of data collection, collation, and calculation methodologies, and a general review of the logic of inclusion/ omission of relevant information/ data in the Report.

Our review process included:

Evaluate and assess the appropriateness of the quantification methods used to arrive at the non-financial sustainability information of BRSR Core indicators in the Report;
Review of consistency of data/information within the report as well as between the Report and source;
Engagement through discussions with personnel at both corporate and business unit levels who are accountable for the data and information presented in the Report;
Execution of an audit trail of claims and data streams, to determine the level of accuracy in collection, transcription, and aggregation;
Review of data collection and management procedures, and related internal controls.

Inherent limitations

There are inherent limitations in an assurance engagement, including, for example, the use of judgment and selective testing of data. Accordingly, there are possibilities that material misstatements in the sustainability information of the BRSR Core indicators in the Report may remain undetected.

The assurance scope excludes:

Data and information outside the defined reporting period (1st April 2023 to 31st March 2024);
Any information not covered in ‘Scope & boundary of assurance’;
Review of the ‘economic and/or financial performance indicators’ included in the Report or on which reporting is based; we have been informed by the Company that these are derived from the Company’s audited financial records;
The Company’s statements that describe the expression of opinion, belief, inference, aspiration, expectation, aim, or future intention.

Our observations

During our review and assurance, we observed that the process of consolidation of data from different sources at plant level, needs to be further strengthened. Certain data collation and compilation discrepancies, which were noted during our review, were subsequently corrected. Additionally, the Company may consider augmented processes for maintenance of evidence trail of back-up data of reported information, for enhancing auditability.

Our above observations, however, does not affect our conclusion regarding the Report.

Our conclusion

Based on the scope of our review, we conclude that the non-financial sustainability disclosures as mentioned in ‘Scope and boundary of assurance’ fairly fulfil the criteria of relevance, completeness, reliability, neutrality, and understandability.

Our assurance team and independence

BDO India LLP is a professional services firm providing services in Advisory, Assurance, Tax, and Business Advisory Services, to both domestic and international organizations across industry sectors. Our non-financial assurance practitioners for this engagement are drawn from a dedicated Sustainability and ESG Team in the organization. This team is comprised of multidisciplinary professionals, with expertise across the domains of sustainability, global sustainability reporting standards and principles, and related assurance standards. This team has extensive experience in conducting independent assurance of sustainability data, systems, and processes across sectors and geographies. As an assurance provider, BDO India LLP is required to comply with the independence requirements set out in the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants. Our independence policies and procedures ensure compliance with the Code.

For BDO India LLP

Dipankar Ghosh

Partner and Lead| Sustainability & ESG Business Advisory Services

Dated: 31st May 2024

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AI assistant

SRF Ltd. — Environmental & Social Information 2024

61903_rns_2024-06-05_41f56a6b-600c-4f9d-b128-184cda4cf7ef.pdf

Sub: Business Responsibility and Sustainability Report- SRF Limited

Business Responsibility & Sustainability Report

SECTION A: GENERAL DISCLOSURES

II. Products and services

16. Details of business activities (accounting for 90% of the turnover):

17. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):

III. Operations

18. Number of locations where plants and/or operations/offices of the entity are situated:

19. Markets served by the entity:

a. Number of locations

IV. Employees

20. Details as at the end of Financial Year

a. Employees and workers (including differently abled):

b. Differently abled Employees and workers

21. Participation/Inclusion/Representation of women

22. Turnover rate for permanent employees and workers

23. (a) Names of holding / subsidiary / associate companies / joint ventures

VI. CSR details

VII. Transparency and Disclosures Compliances

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

26. Overview of the entity’s material responsible business conduct issues

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

10 Details of Review of NGRBCs by the Company:

SECTION C: PRINCIPLE WISE PERFORMANCE DISCLOSURE

PRINCIPLE 1 Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable. Essential indicators

3. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision preferred in cases where monetary or non-monetary action has been appealed.

4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide a web-link to the policy.

5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement agency for the charges of bribery/ corruption:

6. Details of complaints with regard to conflict of interest:

8. Number of days of accounts payables (Accounts payable *365) / Cost of goods/services procured) in the following format:

PRINCIPLE 2: Businesses should provide goods and services in a manner that is sustainable and safe

Essential Indicators

2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No)

3. Describe the processes in place to safely reclaim your products for reusing, recycling and disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.

4. Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No). If yes, whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted to Pollution Control Boards? If not, provide steps taken to address the same.

PRINCIPLE 3: Businesses should respect and promote the well-being of all employees, including those in their value chains

Essential Indicators

c. Spending on measures towards well-being of employees and workers (including permanent and other than permanent) in the following format

2. Details of retirement benefits, for Current FY and Previous Financial Year

3. Accessibility of workplaces

4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so, provide a web-link to the policy.

5. Return to work and Retention rates of permanent employees and workers that took parental leave.

6. Is there a mechanism available to receive and redress grievances for the following categories of employees and worker? If yes, give details of the mechanism in brief.

10. Health and safety management system:

a) Whether an occupational health and safety management system has been implemented by the entity? (Yes/ No). If yes, the coverage such system?

b) What are the processes used to identify work-related hazards and assess risks on a routine and non-routine basis by the entity?

c) Whether you have processes for workers to report the work-related hazards and to remove themselves from such risks. (Y/N)

d) Do the employees/ worker of the entity have access to non-occupational medical and healthcare services? (Yes/ No)

11. Details of safety related incidents, in the following format:

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.

13. Number of Complaints on the following made by employees and workers:

14. Assessments for the year:

PRINCIPLE 4: Businesses should respect the interests of and be responsive to all its stakeholders Essential Indicators

1. Describe the processes for identifying key stakeholder groups of the entity.

2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group.

PRINCIPLE 5: Businesses should respect and promote human rights Essential Indicators

3. Details of remuneration/salary/wages a. Median remuneration/wages:

4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues caused or contributed to by the business? (Yes/No)

5. Describe the internal mechanisms in place to redress grievances related to human rights issues.

6. Number of Complaints on the following made by employees and workers:

7. Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, in the following format:

8. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases.

10. Assessments for the year:

2008

Acquisition of Thai Baroda Industries Limited plant in Rayong, Thailand

PRINCIPLE 6: Businesses should respect and make efforts to protect and restore the environment

Essential Indicators

2008

SRF Industex Belting (Pty) Limited

3. Provide details of the following disclosures related to water, in the following format:

4. Provided the following details related to water discharged:

5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and implementation.

6. Please provide details of air emissions (other than GHG emissions) by the entity, in the following format:

8. Does the entity have any project related to reducing Green House Gas emission? If Yes, then provide details.

9. Provide details related to waste management by the entity, in the following format:

PRINCIPLE 7: Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent Essential Indicators

PRINCIPLE 8: Businesses should promote inclusive growth and equitable development Essential Indicators

SRF Ltd. Environmental & Social Information 2024

**8. Number of days of accounts payables (Accounts payable *365) / Cost of goods/services procured) in the following format:**