SRF Ltd. - Environmental & Social Information 2025

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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-54/2025 10[th] June, 2025

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 202425 of SRF Limited.

The Business Responsibility and Sustainability Report forms an integral part of the Annual Report FY 2024-25 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 LAKHANPA LAKHANPAL L Date: 2025.06.10 11:07:35 +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

Business Responsibility & Sustainability Report

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SECTION A: GENERAL DISCLOSURES

I. Details of the entity

1 Corporate Identity Number (CIN) of the Listed Entity
2 Name of the Listed Entity
3 Year of incorporation
4 Registered office address
5 Corporate address
6 E-mail
7 Telephone
8 Website

L18101DL1970PLC005197

SRF Limited

1970

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

Block - C, Sector - 45, Gurugram, Haryana, India - 122 003

[email protected] 91-124-4354400 www.srf.com

ANNUAL REPORT 2024-25

9 Financial year for which reporting is 1[st] April 2024 to 31[st] March 2025 being done
10 Name of the Stock Exchange(s) where 1. BSE Limited 2. The National Stock Exchange of India shares are listed Limited
11 Paid-up Capital ` 296.42 Crore 12 Name and contact details (telephone, Rajat Lakhanpal email address) of the person who may be Sr. Vice President contacted in case of any queries on the (Corporate Compliance) & Company Secretary BRSR report Email - [email protected] Contact - 0124-4354589
13 Reporting boundary - Are the disclosures Disclosures under this report are made on standalone under this report made on a standalone basis for SRF Limited basis (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 financial statements, taken together):
14 Name of assurance provider BDO India LLP 15 Type of assurance Reasonable Assurance for BRSR Core parameters

II. Products/services

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

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S. Description of Description of Business Activity % of
No. Main Activity Turnover of
the entity
1 Chemical Business Chemicals Business consists of two segments, namely 56.84
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1	Chemical Business	Chemicals Business consists of two segments, namely	the entity 56.84
		Specialty Chemicals and Fluorochemicals located in Dahej,
		Gujarat and Bhiwadi, Rajasthan.
2	Performance Films &	Performance Films & Foil Business (PFB) consists of	22.22
	Foil Business	Polyester 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 manufacturing	17.28
	Business	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 at	1.53
	Business	Kashipur in Uttarakhand
5	Coated Fabric	Manufactures yarn, weaving, coating, printing and	2.12
	Business	lacquering. Located at Gummidipoondi in Tamil Nadu.

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

S.	Product/Service	NIC	% of total Turnover
No.		Code	contributed
1	Specialty Chemicals	2029	33.34
2	Fluorochemicals, Refrigerant Gases and allied products	2011	19.41
3	Packaging Films	2220	22.52
4	Nylon Tyre Cord Fabric / Polyester Tyre Cord Fabric / Belting Fabric	1399	15.01
5	Industrial Chemicals	2011	3.61
6	Laminated Fabric, Coated Fabric and other ancilliary activities	1399	3.72
7	Synthetic Filament Yarn includingIndustrial Yarn/Twine	2220	2.33

ANNUAL REPORT 2024-25

III. Operations

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

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) 89

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 the Company on standalone basis is 40.05%

c. A brief on types of customers:

Our customer base consists of organisations in the automotive, pharmaceuticals, air conditioning and refrigeration, manufacturing, chemicals, food and agriculture, renewable energy, lifestyle and decor, agrochemicals, mining, and FMCG sector

IV. Employees

20. Details as at the end of Financial Year (FY 2024-25):

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	EMPLOYEES
1.	Permanent (D)	3,838	3,455	90	383	10
2.	Other than Permanent (E)	15	12	80	3	20
3.	Total employees(D + E)	3,853	3,467	90	386	10
		WORKERS
4.	Permanent (F)	3,787	3,730	98	57	2
5.	Other than Permanent (G)	7,171	6,659	93	512	7
6.	Total workers(F + G)	10,958	10,389	95	569	5

b. Differently abled Employees and workers (FY 2024-25):

S. No. Particulars Total (A)	Male Female
	No.(B) %(B / A) No.(C) %(C / A)
DIFFERENTLY ABLED EMPLOYEES
1. Permanent (D) 3 2 67 1 33 2. Other than Permanent (E) 0 0 0 0 0 3. Total employees(D + E) 3 2 67 1 33

ANNUAL REPORT 2024-25

S. No. Particulars Total (A)	Male Female
	No.(B) %(B / A) No.(C) %(C / A)
DIFFERENTLY ABLED WORKERS
4. Permanent (F) 8 8 100 0 0 5. Other than Permanent (G) 1 0 0 1 100 6. Total workers(F + G) 9 8 89 1 11

21. Participation/Inclusion/Representation of women

Total (A)	No. andpercentage of Females
	No.(B) %(B / A)
Board of Directors 10 KeyManagement Personnel 8	2 20 0 0

22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)

	FY 2024-25(%) FY 2023-24(%) FY 2022-23(%)
	Male Female Total Male Female Total Male Female Total
Permanent Employees Permanent Workers	12 16 13 10 16 10 13 18 13 7 2 7 7 2 7 7 10 7

22.	Turnover rate for permanent employees and workers (Disclose trends for the past 3 years) FY 2024-25(%) FY 2023-24(%) FY 2022-23(%) Male Female Total Male Female Total Male Female Total Permanent Employees 12 16 13 10 16 10 13 18 13 Permanent Workers 7 2 7 7 2 7 7 10 7	Turnover rate for permanent employees and workers (Disclose trends for the past 3 years) FY 2024-25(%) FY 2023-24(%) FY 2022-23(%) Male Female Total Male Female Total Male Female Total Permanent Employees 12 16 13 10 16 10 13 18 13 Permanent Workers 7 2 7 7 2 7 7 10 7	Turnover rate for permanent employees and workers (Disclose trends for the past 3 years) FY 2024-25(%) FY 2023-24(%) FY 2022-23(%) Male Female Total Male Female Total Male Female Total Permanent Employees 12 16 13 10 16 10 13 18 13 Permanent Workers 7 2 7 7 2 7 7 10 7	Turnover rate for permanent employees and workers (Disclose trends for the past 3 years) FY 2024-25(%) FY 2023-24(%) FY 2022-23(%) Male Female Total Male Female Total Male Female Total Permanent Employees 12 16 13 10 16 10 13 18 13 Permanent Workers 7 2 7 7 2 7 7 10 7
V.	Holding, Subsidiary and Associate Companies (including joint ventures)
23.	(a) Names of holding / subsidiary / associate companies / joint ventures
S. No.	Name of the holding / subsidiary / associate companies / joint ventures (A)	Indicate whether holding/ Subsidiary/ Associate/ Joint Venture	% of shares held by listed entity	Does the entity indicated at column A, participate in the Business Responsibility initiatives of the listed entity? (Yes/No)
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 Africa) (Pty)	Subsidiary	100	No
	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 IND AS

4 ANNUAL REPORT 2024-25

VI. CSR Details

24. i. Whether CSR is applicable as per section 135 of Companies Act, 2013: (Yes/No): Yes

ii. Turnover (in ` ) (FY 2024-25): 11,697.97 Crore
iii. Net worth (in ` (FY 2024-25): 11,288.72 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 group from whom complaint is received Grievance Redressal Mechanism in Place (Yes/No) (If Yes, then provide web-link for grievance redress policy)	FY 2024-25 FY 2023-24
	Number of complaints fled during the year Number of complaints pending resolution at close of the year Remarks Number of complaints fled during the year Number of complaints pending resolution at close of the year Remarks
Communities Yes Investors (other than shareholders) Yes Shareholders Yes Employees and workers Yes Customers Yes Value Chain Partners Yes Other (please specify) -	0 0 None 0 0 None 0 0 None 0 0 None 183 0 None 316 0 None 4 0 None 2 0 None 555 13 None 520 5 None 0 0 None 0 0 None - - None - - -

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 identifed	Indicate whether risk or opportunity (R/O)	Rationale for identifying the risk opportunity	/	In case of risk, Approach to adapt or mitigate	Financial implications of the risk or opportunity (Indicate Positive or negative implications)
1	Energy Management	Opportunity	Implementing energy efciency initiatives at our		-	Positive
			manufacturing sites ofces contributes in eforts to decrease	and our the
			Company’s greenhouse	gas
			emissions.

ANNUAL REPORT 2024-25

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S. Material Indicate Rationale for In case of risk, Financial
No. identified whether risk identifying the risk / Approach to implications
or opportunity opportunity adapt or mitigate of the risk or
(R/O) opportunity
(Indicate
Positive or
negative
implications)
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2	GHG	Opportunity	Implement initiatives to		Positive
	emission		reduce greenhouse gas
	reduction		emissions by utilizing
			renewable fuel sources,
			increasing the share	-
			of renewable power
			in electricity mix, and adopting energy-efcient
			measures.
3	Air emissions	Risk	Exceeding the designated	Ensure monitoring	Negative
			limits set by the State	of all sources of
			Pollution Control Board (SPCB) may result in fnes	air pollutants in our manufacturing
			and penalties.	locations.
				Undertake
				measures to reduce
				SOx, NOx and PM
				emissions
4	Water	Opportunity	The practice of reuse,		Positive
	conservation		recycling, and rainwater
			harvesting decreases water
			withdrawals, thus reducing
			dependence on fresh-
			water resources.
5	Waste	Risk	Inefective waste	Our waste	Negative
	Management		management practices	management
			could potentially endanger the environment.	strategy focuses on efcient
				management of
				waste based on 3R
				principle – Reduce,
				Reuse and Recycle
				and promotes
				circular economy
6	Key material	Risk	Failure to adhere to	Increase awareness	Negative
	procurement		ESG practices and EHS	among raw
	and		compliance by suppliers	material suppliers
	management		could result in disruptions	to implement ESG
			to the supply chain.	practices.
7	Employment	Opportunity	Providing an inclusive		Positive
			and safe workplace and	-
			contribute to well-being of
			workforce

6 ANNUAL REPORT 2024-25

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8	Occupational	Risk	Occupational health &	We maintain our	Negative
	Health and		safety risks due to the	commitment to
	Safety		nature of operations of the Company	implementing strong and efcient
				occupational
				health and safety
				management
				systems to minimize
				industrial accidents.
9	Community	Opportunity	CSR initiatives contribute	-	Positive
	relations and		to the empowerment of
	engagement		communities 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	-	Positive
	Governance		Company enshrines the
	Practices		principles by which the
			Company and its employees
			are guided.
11	Total Quality	Opportunity	Implementation of TQM	-	Positive
	Management		ensures meeting evolving
	(TQM)		customer aspirations and
			shifting market dynamics by
			bringing systemic changes
			to maximise operational efciency
12	Innovation &	Opportunity	Improve resource efciency	-	Positive
	Research and		and continuously develop
	Development		newproducts for the market

ANNUAL REPORT 2024-25 7

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	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
each principle and its core elements of the
NGRBCs. (Yes/No)
b. Has the policy been approved by the Board?	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
(Yes/No)
c. Web Link of the Policies, if available	https://www.srf.com/investors/corporate-governance/
2.Whether the entity has translated the policy	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
into procedures. (Yes / No)
3.Do the enlisted policies extend to your value	No	No	No	No	No	No	No	No	No
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.
Specific commitments, goals and targets set by the entity with defined timelines, if any.
Our plants are certified with ISO 14001, ISO 50001 and OHSAS 18001.

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

Governance, leadership and oversight

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).

We view our ESG journey as a dynamic, continuous pursuit of excellence. Driven by diligent effort and proactive initiatives, we are committed to achieving our targets. Our ESG performance serves as a testament to our dedication in driving a positive change and 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

ANNUAL REPORT 2024-25

Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 9. Does the entity have a specified Committee The Board members periodically monitor the financial, of the Board/ Director responsible for decision environmental, and social performance of the Company making on sustainability related issues? (Yes / while addressing key risks and opportunities. The Company No). If yes, provide details. also has a Risk Management Committee which reviews entity wide risks including ESG risks.

10. Details of Review of NGRBCs by the Company:

Subject for Review Indicate whether review was undertaken Frequency (Annually/ Half yearly/ by Director / Committee of the Board/Any Quarterly/ Any other – please specify) other Committee P1 P 2 P 3 P 4 P 5 P 6 P 7 P 8 P 9 P 1 P 2 P 3 P 4 P 5 P 6 P 7 P 8 P 9 Performance Y Y Y Y Y Y Y Y Y A A A A A A A A A against above policies and follow up action Compliance Y Y Y Y Y Y Y Y Y As and when required with statutory requirements of relevance to the principles, and rectification of any non-compliances 11. Has the entity carried out P1 P2 P3 P4 P5 P6 P7 P 8 P9 independent assessment/ No external assessment was conducted. However, we conduct periodic evaluation of the working of its review of our policies internally. policies by an external agency? (Yes/No). If yes, provide name of the agency.

*NA: Not applicable

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)

ANNUAL REPORT 2024-25

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 Topics / principles covered under the %age of persons
of training and training and its impact in respective
awareness category covered
programmes by the awareness
held programmes
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Board of	4	Familiarization of business environment and	100%
Directors		related risks, Changes in regulatory framework,
		ESG and sustainability practices, Health &
		Safety, Values of SRF, Risk Management
Key Managerial	6	Familiarization of business environment and	100%
Personnel		related risks, Changes in regulatory framework,
		ESG and sustainability practices, Health &
		Safety, Values of SRF, Code of Conduct and Risk
		Management
Employees	3075	Employees received training in technical and	87%
other than BoD		analytical skills (Excel, data visualization, ASP.
and KMPs		NET Core), leadership and management,
		safety and compliance (incident management,
		chemical handling, GMP), workplace ethics and
		communication (POSH, etiquette), and personal
		development and innovation (LEAP, AI).
Workers	3795	Training provided to workers includes technical	81%
		operations and maintenance (handling agitators,
		pumps, servo motors, vibration analysis),
		safety and emergency preparedness (chemical handling, PPE, fre safety), health and wellness,
		environmental and compliance awareness, and
		leadershipand employee engagement.

10 ANNUAL REPORT 2024-25

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 ) appeal<br>enforcement been<br>agencies/ judicial preferred?<br>institutions (Yes/No)<br>Penalty/ Fine Principle 1 - Office of the Deputy 4.63 Default in availing and utilizing Input Tax Credit during No
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Penalty/ Fine	Principle 1 -	Ofce of the Deputy	`4.63	Default in availing and utilizing Input Tax Credit during	No
	Businesses	Commissioner of	Lacs	the period April 2020 to March 2021. Demand of
	should conduct	Central Tax & Central		`44,33,929 under Section 73 (1) of the CGST/TNGST
	and govern	Excise		Act, 2017 read with Section 20 of the IGST Act, 2017.
	themselves with integrity, and			Penalty imposed for`4,63,394 under Section 73(9) of CGST/TNGST Act, 2017. An appeal will be fled in
	in a manner			due course
	that is Ethical,
	Transparent and
	Accountable.
Penalty/ Fine	Principle 1 -	Commissioner of CGST	`9.20\|CENVAT Credit wrongfully availed for`9,20,633 in	No
	Businesses	& Central Excise	Lacs	contravention of the provisions of Rule 2(l) of Cenvat
	should conduct			Credit Rules. Thus, a penalty of`9,20,633/- under
	and govern			Rule 15 of the CENVAT Credit Rules read with Section
	themselves with integrity, and in a manner			11AC of Central Excise Act was levied. An appeal will be fled in due course.
	that is Ethical,
	Transparent and
	Accountable.
Penalty/ Fine	Principle 1 - Businesses	Deputy Commissioner, Uttarakhand GST	`6.82 Lacs	GST audit was conducted for FY 2019-20 by State GST Ofcer, Uttarakhand. Department objected that	No
	should conduct and govern	(Audit)		:- a) ITC was availed on certain transactions for which supplier did not report while fling their GST returns.
	themselves with			b)Company has claimed ITC which is more than the
	integrity, and			amount auto-populated as per State GST records. c)
	in a manner			ITC was claimed by Company on certain reported
	that is Ethical,			transactions for which supplier did not pay the tax.
	Transparent and			On all the above three grounds, the department has
	Accountable.			raised a demand of`75.89 lacs (including interest and
				penalty) against which the Company has paid`13.70
				lacs under protest. Penalty imposed under Section
				73 of the Central Goods and Services Tax Act, 2017
				-`6.82 lacs.
Penalty/ Fine	Principle 1 -	Superintendent, Range	`18.62	During 2019-20, the Engineering Plastics Business of	Yes
	Businesses	– V, Division – I,	Lacs	the Company was sold on a slump sale basis. Business
	should conduct	CGST & C. Ex, Thane		Slump sale is not subject to tax under the GST law.
	and govern	Commissionerate		Department alleged that ITC credit to the tune of
	themselves with			`18,62,930 on stock of the said business is required
	integrity, and			to be reversed. The department has raised a demand
	in a manner			of`18,62,930 plus interest as may be determined in
	that is Ethical,			accordance with applicable provisions and penalty of
	Transparent and			`18,62,930.
	Accountable.

ANNUAL REPORT 2024-25 11

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Monetary
NGRBC Name of the Amount Brief of the Case Has an
Principle regulatory/ (In ` ) appeal
enforcement been
agencies/ judicial preferred?
institutions (Yes/No)
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Penalty/ Fine	Principle 1 -	Superintendent,	`75,000	Inspection was conducted by Superintendent on 04-	No
	Businesses	Prohibition and Excise		05-2024 and an amount of`75,000/- was paid for
	should conduct	Department, Bharuch		settlement of violation of certain provisions of Gujarat
	and govern			Prohibition Act, 1949. Inspection was conducted
	themselves with			by Superintendent on 04-05-2024 and an amount
	integrity, and			of`75,000/- was paid for settlement of violation of
	in a manner			certain provisions of Gujarat Prohibition Act, 1949.
	that is Ethical,
	Transparent and
	Accountable.
Penalty/ Fine	Principle 1 -	Madhya Pradesh	`35,000	Penalty imposed under Section 142 of the Electricity	No
	Businesses should conduct	Electricity Regulatory Commission, Bhopal		Act, 2003 by Madhya Pradesh Electricity Regulatory Commission, Bhopal. Default in fulflment of Renewable
	and govern			Purchase Obligation during the period from 10.11.2010
	themselves with			to 31.3.2024. Consequently, a penalty of`35000 has
	integrity, and			been imposed on the Company.
	in a manner
	that is Ethical,
	Transparent and
	Accountable.
Penalty/ Fine	Principle 1 -	Joint Commissioner,	`85.23	The Department in its order stated that the Company	Yes
	Businesses	CGST & Central Excise,	crores	has procured raw materials from EoU/SEZ suppliers
	should conduct	Vadodara-II		under Advance Authorization and was not eligible to
	and govern			claim refund of IGST on exports against such advance
	themselves with			authorisations between October 2017 to March, 2022.
	integrity, and			On the above grounds, the department has raised a
	in a manner			Demand order for Tax of`85.23 crores. In addition,
	that is Ethical,			demand for penalty equivalent to the tax amount and
	Transparent and			applicable interest was also made.
	Accountable.
Penalty/ Fine	Principle 1 - Businesses	Additional Commissioner, CGST	`7 crores	The Department has alleged that R&D Centre of the Bhiwadi plant has not raised cross charge invoices for	Yes
	should conduct	Alwar Commissionerate		the R&D services provided to its Dahej Plant for the
	and govern			period from July 2017 till March 2021 and accordingly
	themselves with			they did not pay the IGST of`7.71 Crores (approx.) on
	integrity, and			the said service of R&D Facilities. Demand of IGST of
	in a manner			`7 crores under Section 74 of the CGST Act, 2017 read
	that is Ethical,			with Section 20 of the IGST Act, 2017 with equivalent
	Transparent and			Penalty of`7 crore and applicable interest. -Above
	Accountable.			demand of`7 crores have already been deposited
				under protest by the Company between May, 2023
				till July, 2023. The Company has also submitted to
				the relevant authorities that the above demand is
				erroneous in light of Rule 28 (valuation of goods and
				services between distinct or related persons) of the
				CGST Act, 2017.
Settlement				NIL
Compounding				NIL
fee

12 ANNUAL REPORT 2024-25

	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.

Case Details Name of the regulatory/ enforcement agencies/ judicial institutions

GST audit was conducted for FY 2019-20 by State GST Officer, Uttarakhand. Department objected that:- a) ITC was availed on certain transactions for which supplier did not report while filing their GST returns. b) Company has claimed ITC which is more than the amount autopopulated as per State GST records. c) ITC was claimed by Company on certain reported transactions for which supplier did not pay the tax. On all the above three grounds, the department has raised a demand of 75.89 lacs (including interest and penalty) against which the Company has paid 13.70 lacs under protest. Penalty imposed under Section 73 of the Central Goods and Services Tax Act, 2017 - ` 6.82 lacs.

During 2019-20, the Engineering Plastics Business of the Company was sold on a slump sale basis. Business Slump sale is not subject to tax under the GST law. Department alleged that ITC credit to the tune of 18,62,930 on stock of the said business is required to be reversed. The department has raised a demand of 18,62,930 plus interest as may be determined in accordance with applicable provisions and penalty of ` 1,86,293

The Department in its order stated that the Company has procured raw materials from EoU/SEZ suppliers under Advance Authorization and was not eligible to claim refund of IGST on exports against such advance authorisations between October 2017 to March, 2022.

Appeal filed before the Joint/Additional Commissioner (Appeals) on 27.08.2024 with mandatory predeposit of ` 440578/-

Appeal filed before The Joint/Additional Commissioner (Appeals) on 13.11.2024 alongwith mandatory pre-deposit of ` 186293/-

Appeal filed before the Commissioner (Appeals) on 03.04.2025 along with mandatory pre-deposit of ` 8,52,31,874/-

On the above grounds, the department has raised a Demand order for Tax of ` 85.23 crores. In addition, demand for penalty equivalent to the tax amount and applicable interest was also made

ANNUAL REPORT 2024-25 13

Case Details

The Department has alleged that R&D Centre of the Bhiwadi plant has not raised cross charge invoices for the R&D services provided to its Dahej Plant for the period from July 2017 till March 2021 and accordingly they did not pay the IGST of 7.71 Crores (approx.) on the said service of R&D Facilities. Demand of IGST of 7 crores under Section 74 of the CGST Act, 2017 read with Section 20 of the IGST Act, 2017 with equivalent Penalty of 7 crore and applicable interest. -Above demand of 7 crores has already been deposited under protest by the Company between May, 2023 till July, 2023. The Company has also submitted to the relevant authorities that the above demand is erroneous in light of Rule 28 (valuation of goods and services between distinct or related persons) of the CGST Act, 2017

Name of the regulatory/ enforcement agencies/ judicial institutions

Appeal filed before the Commissioner (Appeals) on 28.04.2025

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 robust Whistleblower Policy, demonstrating our dedication to ethics, anti-corruption, and upholding the highest standards of integrity. We have a well-defined vigil mechanism consisting of Code of Conduct for Directors and Senior Management Personnel, Code of Conduct for employees, Policy against sexual harassment, Whistleblower Policy, Code of Conduct for Prevention of Insider Trading. This mechanism enables our directors and employees to report any concerns related to unethical behaviour, bribery, corruption, or violations of our code of conduct. The policies and codes related to anti-corruption and anti-bribery 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 2024-25 FY 2023-24
----- End of picture text -----

Directors	0	0
KMPs	0	0
Employees	0	0
Workers	0	0

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

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

FY 2024-25 FY 2023-24
Number Remarks Number Remarks
----- End of picture text -----

Number of complaints received in relation to issues of Confict of	0	Nil	0	Nil
Interest of the Directors
Number of complaints received in relation to issues of Confict of	0	Nil	0	Nil
Interest of the KMPs

14 ANNUAL REPORT 2024-25

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:**

	FY 2024-25	FY	2023-24
Number of days of accountspayables	104.07		111.24

Note: Reasonable assurance has been carried out by BDO India LLP on above 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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----- Start of picture text -----

Parameter Metrics FY 2024-25 FY 2023-24
----- End of picture text -----

Concentration	a. Purchases from trading houses (excluding of	23.93%	31.84%
of Purchases	services Purchases) as % of total purchases
	b. Number of trading houses where purchases	2243	2184
	are made from
	c. Purchases from top 10 trading houses as %	46.96%	44.31%
	of total purchases from trading houses
Concentration	a. Sales to dealers/ distributors as % of total	24.72%	27.32%
of Sales	sales
	b. Number of dealers/ distributors to whom	650	689
	sales are made
	c. Sales to top 10 dealers /distributors as % of	30.64%	35.80%
	total sales to dealers/ distributors
Share of RPTs	a. Purchases (Purchases with related parties/	0.32%	0.08%
in	Total Purchases)
	b. Sales (Sales related parties/Total Sales)	0.02%	0.93%
	c. Loans & advances (Loans & advances given	66.32%	83.35%
	to related parties /Total loans & advances)
	d. Investments (Investments in related parties /	44.31%	49.13%
	Total Investments made)

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

ANNUAL REPORT 2024-25 15

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 -----

Current Financial Previous Financial Details of improvements in Environmental
Year (FY 2024-25) Year (FY 2023-24) and social impacts
----- End of picture text -----

R&D	-	-	We have taken multiple initiatives and make signifcant investments in development of
			sustainable and green technologies.
Capex	0.65%	13.98%	Capex includes projects under renewable energy
			installations, emissions reduction with an aim to
			mitigate our environmental impacts. We undertake
			tangible initiatives to enhance health and safety of
			our workforce in our facilities.

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

At SRF, we prioritise sourcing of our raw materials in a responsible and sustainable manner. We have internal systems in place that encourage the procurement of goods from suppliers who demonstrate strong ESG practices.

We carry out a ‘Supplier Quality System’ assessment to evaluate suppliers on key aspects such as resource management, environmental compliance, certifications, and storage practices. Our goal is to work in collaboration with our suppliers, continuously improving their capabilities and creating mutually beneficial outcomes. Simultaneously, we strive to build lasting relationships with our supply chain partners by fostering trust, ensuring fairness, and maintaining transparency in every procurement decision.

b. If yes, what percentage of inputs were sourced sustainably? 74.38%

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 a unique demetallisation process that enables us to recycle non-usable metallised film generating out of our production process. This has helped us in reducing our reliance on virgin raw materials for manufacturing these films.

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 have secured necessary registrations wherever applicable and are in the process of establishing necessary systems to ensure compliance with Plastic Waste Management Rules across our facilities.

16 ANNUAL REPORT 2024-25

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

Essential Indicators

1. a. Details of measures for the well-being of employees:

Category		% of employees covered by
	Total (A)	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 3,455 3,455 100 3,455 100 0 0 3,455 100 3,366 97 Female 383 383 100 383 100 383 100 0 0 378 99 Total 3,838 3,838 100 3,838 100 383 10 3,455 90 3,744 98
Other than Permanent employees
Male 12 12 100 12 100 0 0 12 100 12 100 Female 3 3 100 3 100 3 100 0 0 3 100 Total 15 15 100 15 100 3 20 12 80 15 100

b. Details of measures for the well-being of workers:

Category		% of workers covered by
	Total (A)	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 3,730 3,730 100 3,730 100 0 0 3,730 100 3,514 94 Female 57 57 100 57 100 57 100 0 0 46 81 Total 3,787 3,787 100 3,787 100 57 2 3,730 98 3,560 94 Other than Permanent workers Male 6,659 6,591 99 6,659 100 7 0 1,468 22 6,524 98 Female 512 512 100 512 100 512 100 0 0 495 97 Total 7,171 7,103 99 7,171 100 519 7 1,469 20 7,019 98

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

FY 2024-25	FY 2023-24
Cost incurred on well-being measures as a % of total revenue of 0.45	0.34
the company

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

ANNUAL REPORT 2024-25 17

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

Benefts	FY 2024-25 FY 2023-24
	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 Others- please specify	100 100 Y 100 100 Y 100 100 Not applicable 99 100 Not applicable 1 1 Y 1 3 Y - - - - - -

Benefts

FY 2024-25
FY 2023-24

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
Others-
please
specify

100
100
Y
100
100
Y
100
100
Not applicable
99
100
Not applicable
1
1
Y
1
3
Y
-
-
-
-
-
-

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 are committed to maintaining a work environment where every individual feels valued, respected, and empowered. Our commitment includes ensuring a safe and inclusive workspace for all. To support this, our facilities are equipped with accessible features such as elevators, ramps with appropriate incline angles, accessible restrooms, and thoughtfully designed seating arrangements to ensure movement and comfort for people with disabilities.

Our dedication to inclusivity is reflected in our ongoing efforts to ensure accessibility for people with disabilities (PwD). We have conducted comprehensive assessments at all our facilities to identify and eliminate any barriers to movement and accessibility, ensuring that all employees can thrive and contribute to their fullest 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 recognise the value of having a diverse workforce in the Company. We stand committed to upholding human rights and ensuring equal opportunities for all. Our Human Rights Policy and Code of Conduct reflect this commitment, guaranteeing fair employment and growth opportunities for all, whether serving or those interested in employment with us.

We ensure there is no discrimination based on factors like religion, caste, language, region, gender (including male, female, or transgender), age, sexual orientation, or physical abilities in our hiring and appraisal process. For more details, you can refer to the Human Rights section and view our full Human Rights policy on https://www.srf.com/wp-content/uploads/2022/01/SRF-Human-Rights-Policy.pdf.

18 ANNUAL REPORT 2024-25

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

	Permanent employees Permanent workers
Gender	Return to work rate Retention rate Return to work rate Retention rate
Male Female Total	100% 86% 100% 92% 100% 75% 100% 100%
	100% 85% 100% 92%

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.

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

Yes/No (If Yes, then Details
give details of the
mechanism in brief)
----- End of picture text -----

Permanent Workers	Yes	Yes, we have robust Grievance Redressal Mechanisms in
Other than Permanent	Yes	place for all employees and workers. Our People Redbook
Workers		Systems serves as platforms for employees and workers
Permanent Employees Other than Permanent Employees	Yes Yes	to express their grievances. Additionally, anyone can submit complaints and suggestions anonymously through designated boxes in ofces and plants. Our grievance redressal procedures ensure a fair and confdential
		resolutionprocess.

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

		FY 2024-25			FY 2023-24
	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	3,838	74	2	3,580	0	0
Employees
Male	3,455	72	2	3,295	0	0
Female	383	2	1	285	0	0
Total Permanent	3,787	1,256	33	3,792	1,163	31
Workers
Male	3,730	1,209	32	3,738	1,115	30
Female	57	47	82	54	48	89

ANNUAL REPORT 2024-25 19

8. Details of training given to employees and workers:

Category	FY 2024-25 FY 2023-24
	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)
	Employees
Male Female Total	3,467 2,382 69 2,423 70 3,325 2,053 62 2,909 87 386 175 45 350 91 285 107 38 196 69 3,853 2,557 66 2,773 72 3,610 2,160 60 3,105 86
	Workers
Male Female Total	10,389 7,941 76 4,768 46 3,738 2,217 59 2,269 61 569 447 79 153 27 54 39 72 27 50 10,958 8,388 77 4,921 45 3,792 2,256 59 2,296 61

Note: Workers include other than permanent workers in FY 24-25

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

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

Category FY 2024-25 FY 2023-24
Total (A) No. (B) % (B / A) Total (C) No. (D) % (D / C)
----- End of picture text -----

Employees
Male	3,467	3,467	100	3,325	3,325	100
Female	386	386	100	285	285	100
Total	3,853	3,853	100	3,610	3,610	100
Workers
Male	3,730	3,730	100	3,738	3,738	100
Female	57	57	100	54	54	100
Total	3,787	3,787	100	3,792	3,792	100

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 recognise that health and safety is an integral part of our operations. Our Health & Safety Policy ensures safe and healthy working environment for all employees and workers. In line with this policy, we have a robust and comprehensive safety management systems based on guidelines of ISO 45001 across all our plants. Salient features of our health and safety management systems are:
Conducting regular safety assessments through designated in-house safety officers to identify workplace hazards.
Implementing corrective and preventive actions based on monitoring and audits.
Regular review of the health and safety management system by the Health & Safety committee to ensure its continuing suitability, adequacy, and effectiveness.
Organising awareness campaigns and conducting training sessions on topics such as safe operating procedures, chemical handling, and ergonomics.

20 ANNUAL REPORT 2024-25

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 take proactive approach to manage workplace safety. It includes regularly conducting Hazard Identification and Risk Assessment (HIRA) as well as Hazard and Operability (HAZOP) studies at our facilities. These evaluations help us identify potential hazards in our operations. Based on the findings, our safety teams update operational control procedures and management plans to effectively mitigate identified risks. To strengthen our safety culture, our safety teams carry out periodic audits and inspections aimed at detecting risks, resolving safety concerns, and reducing the likelihood of workplace incidents.

For routine tasks, the process includes hazard identification, i.e. review of incident reports and near misses, employee reporting mechanisms, consultation with workers etc and risk assessment process, i.e. How risks are evaluated (e.g., likelihood and severity), scale, documentation and review. For non-routine tasks, such as maintenance or new project implementation, we conduct specific risk assessments before the commencement of work.

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 well-defined approach for identifying and reporting work-related hazards. Specific trainings are given to our workforce to recognise and report potential risks and hazards, unsafe acts and unsafe conditions in their surroundings.

We encourage our employees and workers to report potential risks and hazards, unsafe acts and unsafe conditions without any fear of retaliation in our internal portal or directly to the facility based EHS SPOC. The reporting enables us to take corrective actions and maintain a safe working environment for all.

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

We have Occupational Health Centres at all our facilities. The Occupational Health Centers (OHC) are managed by qualified doctors, trained paramedic staff. In addition to handling occupational injuries, the OHCs also cater to non-occupational medical and healthcare advice if needed.

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

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

Safety Incident/Number Category FY 2024-25 FY 2023-24
Lost Time Injury Frequency Rate (LTIFR) Employees 0.48 0.18
----- End of picture text -----*

Safety Incident/Number Lost Time Injury Frequency Rate (LTIFR)	Category* Employees	FY 2024-25 0.48	FY 2023-24 0.18
(per one million-person hours worked)	Workers	0.09	0.19
Total recordable work-related injuries	Employees	3	1
	Workers	2	6
Number of fatalities	Employees	0	0
	Workers	0	0
High consequence work-related injury or ill-	Employees	2	0
health (excluding fatalities)	Workers	0	0

Including contract workforce

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

ANNUAL REPORT 2024-25 21

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

At SRF, we are fully committed to ensuring a workplace free from injuries. Our goal is to achieve zero incidents, whether injuries, fatalities, or accidents, across all our plants and manufacturing units. To support this, we have implemented comprehensive safety procedures, emergency response plans, and health and safety protocols throughout our operations. We have EHS Committees at each plant to actively promote a culture of safety across the organisation. Some of the measures taken by the entity to ensure safe and healthy workplace includes

Regular fire and emergency evacuation exercises are carried out.
Workspaces and equipment are designed following ergonomic guidelines.
Plan to prevent violence in the workplace is in effect.
Robust system for reporting incidents, near misses, and unsafe conditions is active, encouraging open reporting without fear of reprisal.
Proper use of Personal Protective Equipment (PPE), such as masks, gloves, gowns, and face shields, is enforced for all personnel.
Safety specialists routinely inspect the facilities to find and reduce potential safety hazards.
Initiatives promoting the physical and mental well-being of staff are offered.
Staff are given scheduled breaks to prevent exhaustion.

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

	FY 2024-25 FY 2023-24
	Filed during the year Pending resolution at the end ofyear Remarks Filed during the year Pending resolution at the end ofyear Remarks
Working Conditions Health & Safety	0 0 None 0 0 None 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

22 ANNUAL REPORT 2024-25

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.

Not applicable

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 actively engage with both internal and external stakeholders to understand their viewpoints, gather feedback, and respond to the issues that matter to them regarding us. We envisage building meaningful relationships and keep engaging with them as per mutual requirements. Based on our Stakeholder Engagement and Materiality Assessment (SEMA) conducted earlier, our key stakeholder groups are employees, suppliers, dealers, customers, shareholders and investors, communities, regulatory bodies and bankers.

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

Stakeholder Group	Whether identifed as Vulnerable & Marginalized Group (Yes/ No) Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website), Other	Whether identifed as Vulnerable & Marginalized Group (Yes/ No) Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website), Other	Whether identifed as Vulnerable & Marginalized Group (Yes/ No) Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website), Other	Frequency of engagement (Annually/ Half yearly/ Quarterly/ others please specify)	Purpose and scope of engagement including key topics and concerns raised during such Engagement	Purpose and scope of engagement including key topics and concerns raised during such Engagement
Regulatory Bodies	No	•	Adherence to reporting requirements	As per requirement	• •	Regulatory compliance Operational efciency
		•	Industry representation		•	Development of
			on key matters			communities
					•	Management of
						environmental impact
					•	Occupational Health
						and Safety
					•	Emergency
						Preparedness
					•	Air and GHG emissions
					•	Biodiversity and
						resource conservation
					•	Waste management

ANNUAL REPORT 2024-25 23

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

Shareholders	No	•	Company website	As per	•	Financial Performance
		•	Quarterly publication	requirement	•	Business Risk
			of results followed by			Management
			earning call		•	Foray into new markets
		•	Periodic Analysts’ briefng and individual		•	Optimising operational costs
			discussions between		•	Corporate governance
			fund managers and the management team		• •	Ethics and value Energy efciency
		•	Communication with		•	Renewable energy
			shareholders to provide		•	Delivery of timely
			service			service
Suppliers	No	•	Supplier evaluation	As per	•	Pricing, quality and
			programme	requirement		safety of raw materials
		•	Periodic meetings Visits		•	Issues related with
			to supplier’s facilities			human rights
					•	Local employment
					•	Materials
Customers	No	•	Customer visits / audit and meetings	As per requirement	•	Product innovation and lifecycle efciency
		•	Customer recognition/		•	Service quality
			awards programmes		•	Resolution of Customer
		•	Customer satisfaction			Complaints
			surveys		•	Quality and Safety of
		•	Joint development &			Products
			product reengineering		•	Pricing of Products
					•	Branding

24 ANNUAL REPORT 2024-25

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Employees	No	•	IT enablement &	As per	•	Career growth
			digitisation	requirement		prospects
		•	Structured and		•	Learning and
			focussed training			development programs
			programmes		•	Trainings
		•	Employee oriented		•	Rewards and
			work policies			Recognition
		•	Adequate grievance		•	Occupational Health
			mechanism for			and Safety
			reporting and redressal		•	Work environment and
		•	Fair and transparent			policies
			performance		•	Grievance redressal
			management systems			mechanism
			and 360-degree		•	Ethics and transparency
			feedback process		•	TQM
		•	Periodic open house		•	Emergency
			meetings with senior			preparedness
			leadership teams		•	Labour conditions
		•	Regular employee
			engagement and
			feedback surveys
Local	No	•	Social impact	As per	•	Social concerns in the
communities			assessment	requirement		region
		•	Joint development and		•	Minimising negative
			partnership with local			environmental impact
			agencies, network		•	Local employment
			partners 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 –
		•	Digital interface	requirement		deposits, withdrawals,
		•	Email			transfers
					•	Loans and credit lines
					•	Investments and related
						advisory services
					•	Forex management
					•	New banking products

ANNUAL REPORT 2024-25

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 2024-25 FY 2023-24
	Total (A) No. of employees / workers covered(B) % (B / A) Total (C) No. of employees/ workers covered(D) % (D / C)
Employees
Permanent Other than permanent Total Employees	3,838 2,315 60 3,580 2,467 69 15 9 60 30 5 17 3,853 2,324 60 3,610 2,472 68
Workers
Permanent Other than permanent Total Workers	3,787 2,181 58 3,792 1,301 34 7,171 2,993 42 8,154 2,824 35 10,958 5,174 47 11,946 4,125 35

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

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Category FY 2024-25 FY 2023-24
Total Equal to More than Total Equal to More than
(A) Minimum Wage Minimum Wage (D) Minimum Wage Minimum Wage
No. % No. % No. % No. %
(B) (B / A) (C) (C / A) (E) (E / D) (F) (F / D)
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					Employees
Permanent
Male	3,455	0	0	3,455	100	3,295	0	0	3,295	100
Female	383	0	0	383	100	285	0	0	285	100
Other than
Permanent
Male	12	0	0	12	100	30	0	0	30	100
Female	3	0	0	3	100	-	-	-	-	-
					Workers
Permanent
Male	3,730	0	0	3,730	100	3,738	0	0	3,738	100
Female	57	0	0	57	100	54	0	0	54	100
Other than
Permanent
Male	6,659	511	8	6,148	92	7,787	619	8	7,168	92
Female	512	230	45	282	55	367	199	54	168	46

26 ANNUAL REPORT 2024-25

3. Details of remuneration/salary/wages

a. Median remuneration/wages:

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Male Female
Number Median remuneration/ Number Median remuneration/
salary / wages of salary/ wages of respective
respective category (in ) category (in )
Board of 08 23,50,000 02 23,50,000
Directors (BoD)
Key Managerial 08 9,75,71,310 0 -
Personnel
Employees 3459 8,78,700 386 6,35,450
other than BoD
and KMP
Workers 3730 5,08,488 57 3,47,656
Gross wages paid to females as % of total wages paid by the entity, in the following format:
FY 2024-25 FY 2023-24
Gross wages paid to females as % of total wages 5.73 5.04
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b. Gross wages paid to females as % of total wages paid by the entity, in the following format:

Note: Reasonable assurance has been carried out by BDO India LLP on above 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)

We acknowledge, respect, and uphold human rights by creating a safe, secure, and healthy work environment for everyone in our workforce. To reinforce this commitment, we have a Values Steering Committee which consist of senior level employees and headed by our Joint Managing Director. The Committee is responsible for addressing any human rights concerns raised by our employees and workers, ensuring their voices are heard and their rights protected.

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

We have a robust mechanism in place to address any grievances related to human rights violations. We encourage our workers and employees to report any human rights concerns directly to the Values Steering Committee or any of its members. Basis the nature of the complaint, the Committee assigns appropriate resources which gathers, validates, and analyses the information to investigate the matter. Subsequently, the committee communicates its decision and recommendations in writing to the employee who filed the grievance in a defined timeline. The recommendations are implemented by the relevant departments upon acceptance.

In the entire process of grievance redressal, the Committee ensure fairness, confidentiality, timeliness and following of due process.

ANNUAL REPORT 2024-25 27

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

	FY 2024-25 FY 2023-24
	Filed during the year Pending resolution at the end ofyear Remarks Filed during the year Pending resolution at the end ofyear Remarks
Sexual Harassment Discrimination at workplace Child Labour Forced Labour/ Involuntary Labour Wages Other human rights related issues	4 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 2 0 None

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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FY 2024-25 FY 2023-24
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Total Complaints reported under Sexual Harassment on of	4	0
Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013 (POSH)
Complaints on POSH as a % of female employees/ workers	0.48%	0
Complaints on POSH upheld	4	0

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

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

We have 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, victimisation, retaliation, demotion, and/or adoption of any unfair employment practices.

Our aim is to create and maintain a safe, respectful, and inclusive environment where individuals feel empowered to report such incidents without fear and with the assurance that their concerns will be taken seriously and addressed effectively without having any adverse consequences on the complainant

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

We recognise, respect and uphold the importance of human rights and remain committed to protecting such rights. We actively encourage our suppliers to comply with all relevant laws and to align with Environment, Health, and Safety guidelines. Our focus remains on building strong partnerships with suppliers who demonstrate robust Environment, Health, and Safety practices

28 ANNUAL REPORT 2024-25

10. Assessments for the year:

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

11. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 9 above. Not applicable

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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Parameter FY 2024-25 FY 2023-24
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From renewable sources
Total electricity consumption (A) (TJ)	888	518
Total fuel consumption (B) (TJ)	779	718
Energy consumption through other sources (C) (TJ)	-	-
Total energy consumed from renewable sources (A+B+C)	1667	1,236
From non-renewable sources
Total electricity consumption (D) (TJ)	1,947	2,094
Total fuel consumption (E) (TJ)	9,438	9,350
Energy consumption through other sources (F) (TJ)	-	-
Total energy consumed from non-renewable sources	11,385	11,444
(D+E+F)
Total energy consumed (A+B+C+D+E+F)	13,052	12,680
Energy intensity per rupee of turnover (Total energy consumed/	1.12	1.18
Revenue from operations) (TJ/`Cr)
Energy intensity per rupee of turnover adjusted for Purchasing	2.31	2.40*
Power Parity (PPP) (Total energy consumption/ Revenue from
operations adjusted for PPP) (TJ/ USD million)
Energy intensity in terms of physical output (TJ/MT)	0.029	0.029
Energy intensity (optional) – the relevant metric may be selected by	-	-
the entity

PPP intensity numbers has been recomputed basis the Industry Standards Note on Business Responsibility and Sustainability Report (BRSR) Core dated 20 Dec 2024

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

ANNUAL REPORT 2024-25 29

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

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

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Parameter FY 2024-25 FY 2023-24
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Water withdrawal by source (in kilolitres)
(i) Surface water	-	-
(ii) Groundwater	10,39,863	8,41,756
(iii) Third party water	22,78,683	40,32,441*
(iv) Seawater / desalinated water	21,90,000	5,46,000*
(v) Others (Rainwater harvesting)	28,832	29,054
Total volume of water withdrawal (in kilolitres) (i + ii +	55,37,378	54,49,252
iii + iv + v)
Total volume of water consumption (in kilolitres)	50,55,698	48,69,028
Water intensity per rupee of turnover (Total Water consumed /	4.32	4.51
Revenue from operations) (KL/`Lakhs)
Water intensity per rupee of turnover adjusted for Purchasing	892.90	922.20
Power Parity (PPP) (Total water consumption/ Revenue from
operations adjusted for PPP) (KL/USD millions)
Water intensity in terms of physical output (KL/MT)	11.08	11.30
Water intensity (optional) – the relevant metric may be selected	-	-
bythe entity

*FY 2023-24 water withdrawal reported under third party category is segregated into desalinated water and thirdparty water. Total Water withdrawal figure remains same. In FY 2023-24, water withdrawal from Desalinated/seawater category started in last quarter.

PPP intensity numbers has been recomputed basis the Industry Standards Note on Business Responsibility and Sustainability Report (BRSR) Core dated 20 Dec 2024

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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Parameter FY 2024-25 FY 2023-24
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Water	discharge by destination and level of treatment (in kilolitres)
(i) To	Surface water
-	No treatment	-	-
-	With treatment – please specify level of treatment	0	12,018 Tertiary
			Treatment
(ii) To	Groundwater		-
-	No treatment	-	-
-	With treatment – please specify level of treatment	-	-

30 ANNUAL REPORT 2024-25

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Parameter FY 2024-25 FY 2023-24
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Parameter	FY 2024-25 FY 2023-24
(iii) To Seawater - No treatment - With treatment – please specify level of 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)	- - 4,85,378 Tertiary Treatment 5,68,206 Tertiary Treatment - - - - - - - - - -
	4,85,378 5,80,224

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

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

Water conservation is a priority for us, and we are fully committed to using water in a responsible manner in our operations. We focus on optimising water use through the adoption of water-efficient technologies, implementing recommendation of periodic internal audits on water infrastructure in our facilities along with the recycling and reuse of treated wastewater.

Our Chemical Business facility in Bhiwadi, Technical Textiles facilities in Manali, Viralimalai, Gummidipoondi and Gwalior, as well as our Performance Films & Foil Business facilities, operate as Zero Liquid Discharge (ZLD) facilities. At other facilities, we have installed wastewater treatment plants that ensure both the quality and quantity of discharged water remain well within the limits prescribed by the respective Pollution Control Boards.

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

Parameter	Please specify unit	FY 2024-25	FY 2023-24
NOx	MT/Annum	653.80	428.65
SOx	MT/ Annum	883.34	677.53
Particulate Matter (PM)	MT/ Annum	220.27	202.56
Persistent organic pollutants (POP)	-	Not measured	Not measured
Volatile organic compounds (VOC)	-	Not measured	Not measured
Hazardous air pollutants (HAP)	-	Not measured	Not measured
Others-please specify

ANNUAL REPORT 2024-25 31

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

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Parameter Unit FY 2024-25 FY 2023-24
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Total Scope 1 emissions (Break-up of the	Metric tonnes of	9,88,667	9,45,442
GHG into CO2, CH4, N2O, HFCs, PFCs, SF6,	CO2equivalent
NF3, if available)
Total Scope 2 emissions (Break-up of the	Metric tonnes of	3,93,064	4,16,445
GHG into CO2, CH4, N2O, HFCs, PFCs, SF6,	CO2equivalent
NF3, if available)
Total Scope 1 and Scope 2 emissions intensity per rupee of turnover (Total Scope	tCO2e/`Lakhs	1.18	1.26
1 and Scope 2 GHG emissions / Revenue
from operations)
Total Scope 1 and Scope 2 emission	tCO2e/USD million	244.03	257.94
intensity per rupee of turnover adjusted for
Purchasing Power Parity (PPP) (Total Scope
1 and Scope 2 GHG emissions/ Revenue
from operations adjusted for PPP)
Total Scope 1 and Scope 2 emission	tCO2e/MT	3.03	3.16
intensity in terms of physical output
Total Scope 1 and Scope 2 emission	-	-	-
intensity (optional) – the relevant metric
maybe selected bythe entity

PPP intensity numbers has been recomputed basis the Industry Standards Note on Business Responsibility and Sustainability Report (BRSR) Core dated 20 Dec 2024.

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.

We are committed to reducing our Green House Gas (GHG) emissions and create a positive impact on the planet. During the year, we had undertaken multiple initiatives at our manufacturing locations to reduce GHG emissions. Selected initiative are

Our share of renewable electricity has increased to 31.52%. Higher procurement of wind and solar power from the PPA agreements by our Chemical Business led to the increase.
We continue to increase the use of biomass in our operations
Our energy efficiency measures include
In the Chemical Business, our initiatives such as optimisation and improvement of chiller operation by doing common brine network circuit, replacement of cooling tower fan with energy efficient fan and existing motors with energy efficient motors resulted in savings of more than 25 lakh kWh.
In the TTB, we were able to save more than two lakh kWh through the installation of a “Direct Evaporative cooling unit”, resulting in reductions in energy consumption and operational costs.
In the PFB, we replaced chilled water with additional closed loop cooling tower line from Resin Plant, improving flow and cooling efficiency. Further, the frequency of our cooling water pump was brought down from 50Hz to 40Hz, saving around 360 kWh per day.

32 ANNUAL REPORT 2024-25

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

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Parameter FY 2024-25 FY 2023-24
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Provide details related to waste management by the entity, in the following format: Parameter FY 2024-25 FY 2023-24	Provide details related to waste management by the entity, in the following format: Parameter FY 2024-25 FY 2023-24
Total Waste generated (in metric tonnes) Plastic waste (A) 4,315 2,996 E-waste (B) 7 5 Bio-medical waste (C) 0.0152 0.02 Construction and demolition waste (D) 123 0 Battery waste (E) 2 5 Radioactive waste (F) 0 0 Other Hazardous waste. (Primarily consists of Spent solvent and process residue generated in Co-processing/Pre-processing) 6,00,859 5,40,189 Other Non-hazardous waste generated (H). (Primarily consists of fyash and other miscellaneous scrapitems) 74,880 75,649
Total(A+B + C + D + E + F + G + H) 6,80,186 6,18,845
Waste intensity per rupee of turnover (Total waste generated / Revenue from operations) (MT/`Lakh) 0.58 0.57 Waste intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) (Total waste generated / Revenue from operations adjusted for PPP) (MT/ USD million) 120.13 117.21 Waste intensity in terms of physical output (Total waste generated/Total production (in MT)) 1.49 1.43 Waste intensity (optional) – the relevant metric may be selected by the entity - - 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 3,31,257 3,01,819 (ii) Re-used 1,18,373 1,01,881 (iii)Other recoveryoperations 1,72,519 1,75,365
Total	6,22,150 5,79,065
For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes) Category of waste (i) Incineration (ii) Landflling (iii) Other disposal operations Total	121 851 48,366 38,247 242 2
	48,729 39,100

PPP intensity numbers has been recomputed basis the Industry Standards Note on Business Responsibility and Sustainability Report (BRSR) Core dated 20 Dec 2024.

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

ANNUAL REPORT 2024-25

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.

At SRF, environmental and social responsibility are one of our Aspirations 2030. As part of the environmental and social responsibility, we are committed to manage our waste effectively through our 3R approach – Reduce, Reuse, and Recycle. Our efforts focus on minimizing waste generation at the source, promoting the reuse of materials wherever feasible, and maximising the recycling of remaining waste streams. Accordingly, we work towards integrating circularity across our operations and strive to function within a ‘closed loop’ in our operations.

We have significantly advanced our 3R capabilities by investing in the required infrastructure and processes, such as:

We place a strong emphasis on efficiently using virgin raw material and increasing our recycled input material from our total raw material consumption.
The total recycled input material used in PFB was approximately 3,450 MT (including PET chips & PP chips).
During the year, we implemented several initiatives such as recycling paper tubes and shell rolls in our Technical Textile Business. We were able to recycle 60% of paper tube and 89.8% of shell roll.

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:

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

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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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Name and EIA Date Whether Results Relevant Web link
brief details Notification conducted by communicated
of project No. independent in public
external agency Domain (Yes /
(Yes / No) 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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S. Specify the law / Provide Any fines / penalties / Corrective action
No. regulation / guidelines details of action taken by regulatory taken, if any
which was not the non- agencies such as pollution
complied with compliance control boards or by courts
None
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ANNUAL REPORT 2024-25

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.

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S. Name of the trade and industry chambers/ associations Reach of trade and
No. industry chambers/
associations (State/
National)
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||||
|---|---|---|
|1|Confederation of Indian Industry|National|
|2|Refrigerant Gases Manufacture Association|National|
|3|Indian Chemical Council|National|
|4|CHEMEXCIL|National|
|5|Association of Chloromethanes Manufacturers|National|
|6|National Safety Council|National|
|7|Manmade and Technical Textiles Export Promotion Council (MATEXIL)|National|
|8|Polyester Textile Apparel Industry Association (PTAIA)|National|
|9|Indian Technical Textile Association (ITTA)|National|
|10|Quality Circle Forum of India|National|

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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.

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||||
|---|---|---|
|Name of authority|Brief of the case|Corrective action taken|
|None|

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

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ANNUAL REPORT 2024-25 35

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

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||||||||
|---|---|---|---|---|---|---|
|S.|Name of Project|State|District|No. of Project|% of PAFs|Amounts paid to|
|No.|for which R&R is|Affected Families|covered by|PAFs in the FY|
|ongoing|(PAFs)|R&R|(In|`|)|
|None|

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3. Describe the mechanisms to receive and redress grievances of the community.

We are committed to having an accessible and effective grievance mechanism for our communities. This robust system allows us to receive and address any complaints or concerns raised. To ensure we understand and respond appropriately, we actively engage with local communities through various channels, including personal visits, surveys, meetings, and written correspondence. Community members can also easily reach us through the dedicated “Contact us” section on our website, ensuring multiple avenues for their voices to be heard and their concerns to be resolved through our established redressal process.

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

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||||
|---|---|---|
|FY 2024-25|FY 2023-24|
|Directly sourced from MSMEs/ small producers|18.41%|25.54%|
|Sourced directly from within India|71.19%|72.93%|

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Note: Reasonable assurance has been carried out by BDO India LLP on above 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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Location FY 2024-25 FY 2023-24
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||||
|---|---|---|
|Rural|-|-|
|Semi-urban|50%|52%|
|Urban|15%|14%|
|Metropolitan|35%|34%|

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

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

36 ANNUAL REPORT 2024-25

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 central to our Aspirations 2030, and we aim to be a trusted and preferred business partner by fostering strong, responsive relationships. We have a structured complaint resolution system in place, accessible through the “Contact Us” section of our website, ensuring timely redressal.

Our marketing and customer relationship management team regularly engage with customers through discussion, surveys, and meetings to gather insights. We also float periodic satisfaction surveys for our customer. Their response helps us in improving our offerings reflecting our dedication to customer-centricity.

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

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

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

	FY 2024-25 FY 2023-24
	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 555 13 None 520 5 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

ANNUAL REPORT 2024-25

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.

Safeguarding the security and confidentiality of the Company’s information and data is essential for maintaining smooth operations and stakeholder trust. At SRF, we have established a comprehensive cybersecurity policy and implementation framework to uphold these standards. The policy can be found here 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:

Strengthening network boundaries with technologies like dual firewalls, content filtering for internet and email, and secure VPNs.
Securing data centers and implementing robust identity and access control, including multi-factor authentication.
Managing and monitoring privileged IT user access through PIM/PAM systems.
Conducting regular cybersecurity awareness training for employees.
Managing mobile devices to mitigate data leak risks for specific users.
Protecting intellectual property through classification and encryption using IRM solutions to prevent data exfiltration.
Maintaining and upgrading infrastructure (servers, network, IT-OT) with proper segregation and micro-segmentation.
Utilizing additional security hardware and software for enhanced data protection.
Operating a 24/7 Security Operations Centre (SOC) for security event management and monitoring.
Deploying advanced anti-malware and Endpoint Detection and Response (EDR) on all endpoints and servers.
Performing routine automated vulnerability scans and applying necessary patches.
Maintaining segregated backups to ensure data recovery after a security incident.

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; re-occurrence 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: Reasonable assurance has been carried out by BDO India LLP on above indicator

ANNUAL REPORT 2024-25

Independent Assurance Statement

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

Independent Assurance Statement on Business Responsibility and Sustainability Report (BRSR) disclosures and Integrated Annual Report (IAR) for the financial year 2024-25.

Introduction and objective of engagement

SRF Limited (the 'Company') has developed its Business Responsibility and Sustainability Report (‘BRSR’) including the BRSR Core Indicators1, based on the BRSR reporting guidelines prescribed by SEBI for listed entities. The reporting criteria have been derived from the Principles of National Guidelines on Responsible Business Conduct, 2018 (NGRBC), and Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard.

BDO India LLP (BDO) was engaged by the Company to provide independent assurance on select non-financial sustainability disclosures in the BRSR (the ‘Report’) for the period 1st April 2024 to 31st March 2025.

The Company’s responsibilities

The content of the Report and its presentation are the sole responsibilities of the Management of the Company. The Company’s 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.

BDO’s responsibility

BDO’s responsibility, as agreed with the Management of the Company, is to provide assurance on the BRSR Core Indicators as described in the ‘Scope & boundary of 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.

Assurance standard and criteria

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 for non-financial Core Indicators of BRSR (Business Responsibility & Sustainability Report).

Scope & boundary of assurance

We have assured the BRSR Core Indicators1, (as set out under Appendix 1 to this statement), pertaining to the Company’s non-financial performance for the period 1st April 2024 through 31st March 2025.

The reporting scope and boundary cover the Company’s operations.

Assurance methodology

Our assurance process entailed conducting procedures to gather evidence regarding the reliability of the disclosures covered in the assurance scope. The physical & virtual verification on sample basis was carried out at the following locations:

Corporate Office, Gurugram;
Chemical Business: Dahej Site & Bhiwadi Site;
Performance Films & Foil Business: Indore Site [Domestic Tariff Area 1 (DTA1), Domestic Tariff Area 2 (DTA2) & Special Economic Zone (SEZ)].

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.

We used our professional judgement as Assurance Provider for selection of sample of the Company’s locations/facilities and non- financial information for the verifications.

We conducted a review and verification of data collection, collation, and calculation methodologies,

ANNUAL REPORT 2024-25 39

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 the BRSR Core Indicators;
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 plant/facility 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.

Limitations & exclusions

There are inherent limitations in 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 Report may remain undetected.

The assurance scope specifically excludes:

Data and information outside the defined reporting period (1st April 2024 to 31st March 2025);
Review of the ‘economic and/or financial performance indicators’ included in the Reports, specifically, the financial information based on which such indicators are reported; we have been informed by the Company that these are derived from the Company’s audited financial records;
The Company’s statements and claims related to any topics other than those listed in the ‘Scope and boundary of assurance’;
The Company's statements that describe qualitative/quantitative assertions, expression of opinion, belief, inference, aspiration, expectation, aim or future intention.

Our observations

Based on our review of the Report, we observed that the disclosures of the Company, covered under the ‘Scope and boundary of assurance’, are fairly reliable. Certain data collation and compilation discrepancies, which were noted during our review, were subsequently corrected.

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

Our conclusions

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

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 & Lead Sustainability & ESG Business Advisory Services Gurugram, Haryana

30 May 2025

ANNUAL REPORT 2024-25

Appendix 1

The sustainability non-financial indicators considered during the engagement are based on BRSR Framework are as follows:

A. BRSR Core Indicators

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Sr. Principle/ Attribute Parameter
No. Indicator/
Reference
1 Principle 6-E7 Green-house 1 . Total scope 1 emissions
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1	Principle	6-E7	Green-house	1.Total scope 1 emissions
			gas (GHG) footprint	2.Total scope 2 emissions
				3.GHG emission Intensity (Scope 1 + 2):
				a) Total Scope 1 and Scope 2 emissions per rupee of turnover
				b) Total Scope 1 and Scope 2 emission per rupee of turnover
				adjusted for Purchasing Power Parity (PPP)
				c) Total Scope 1 and Scope 2 emission intensity in terms of
				physical output
2	Principle	6-E3	Water footprint	1.Total water withdrawn
	Principle	6-E4		2.Total volume of water consumption
				3.Water consumption intensity:
				a) Water consumption per rupee of turnover
				b) Water consumption per rupee of turnover adjusted for
				Purchasing Power Parity (PPP)
				c) Water intensity in terms of physical output
				4.Water Discharge by destination and levels of Treatment
3	Principle	6-E1	Energy footprint	1.Total energy consumed
				2.% of energy consumed from renewable sources
				3. Energy intensity:
				a) Energy consumed per rupee of turnover
				b) Energy consumed per rupee of turnover adjusted for
				Purchasing Power Parity (PPP)
				c) Energy intensity in terms of physical output
4	Principle	6 – E9	Embracing	1. Total waste generated
			circularity- details related	2. Waste generated intensity:
			to waste	a) Waste generated per rupee of turnover
			management by the entity	b) Waste generated per rupee of turnover adjusted for Purchasing Power Parity (PPP)
				c) Waste intensity in terms of physical output
				3.For each category of waste generated, total waste recovered
				through recycling, re-using or other recovery operations
				4.For each category of waste generated, total waste disposed by
				nature of disposal method

ANNUAL REPORT 2024-25 41

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Sr. Principle/ Attribute Parameter
No. Indicator/
Reference
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5	Principle	3	– E1(C)	Enhancing	1.Spending on measures towards well- being of employees and
	Principle	3	– E11	employee	workers- cost incurred as a % of total revenue of the company.
				wellbeing and Safety	2.Details of safety related incidents for employees and workers
					a) Lost Time Injury Frequency Rate (LTIFR) (per one million-
					person hours worked)
					b) Total recordable work-related injuries
					c) No. of fatalities
					d) High consequence work-related injury or ill-health (excluding
					fatalities)
6	Principle	5	– E3(b)	Enabling	1.Gross wages paid to females as a % of total wages paid
	Principle	5	– E7	Gender Diversity in	2.Complaints on POSH
				Business	a) Total Complaints reported under Sexual Harassment on of
					Women at Workplace (Prevention, Prohibition and Redressal)
					Act, 2013 (POSH)
					b) Complaints on POSH as a % of female employees / workers
					c) Complaints on POSH upheld
7	Principle	8	– E4	Enabling	1.Input material sourced from following sources as % of total
	Principle	8	– E5	Inclusive	purchases Directly sourced from MSMEs/ small producers and
				Development	directly from within India
					2.Job creation in smaller towns- wages paid to people employed in
					smaller towns (permanent or non-permanent/on contract) as % of
					total wage cost
8	Principle	9	– E7	Fairness in	1.Instances involving loss/ breach of data of customers as a
	Principle	1	– E8	Engaging with	percentage of total data breaches or cyber security events
				Customers and Suppliers	2.Number of days of accounts payable
9	Principle	1	– E9	Open-ness of	1.Concentration of purchases & sales done with trading houses,
				business	dealers, and related parties
					a) Purchases from trading houses as % of total purchases
					b) Number of trading houses where purchases are made from
					c) Purchases from top 10 trading houses as % of total purchases
					from trading houses
					d) Sales to dealers / distributors as % of total sales
					e) Number of dealers / distributors to whom sales are made
					f) Sales to top 10 dealers / distributors as % of total sales to
					dealers / distributors
					2. Loans and advances & investments with related parties Share of
					RPTs (as respective %age) in:
					a) Purchases
					b) Sales
					c) Loans & advances
					d) Investments

Notes:

For BRSR indicators, “E” denotes Essential Indicators.

ANNUAL REPORT 2024-25

AI assistant

SRF Ltd. — Environmental & Social Information 2025

61903_rns_2025-06-10_fd8e13f3-b8be-4fb4-b91d-fb4894f3f59b.pdf

Sub: Business Responsibility and Sustainability Report- SRF Limited

SECTION A: GENERAL DISCLOSURES

I. Details of the entity

II. Products/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:

c. A brief on types of customers:

IV. Employees

20. Details as at the end of Financial Year (FY 2024-25):

21. Participation/Inclusion/Representation of women

22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)

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

Governance, leadership and oversight

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.

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.

Case Details

Name of the regulatory/ enforcement agencies/ judicial institutions

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:

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.

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

9. Open-ness of business

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

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

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

1. a. Details of measures for the well-being of employees:

b. Details of measures for the well-being of workers:

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.

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

8. Details of training given to employees and workers:

10. Health and safety management 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

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

PRINCIPLE 5: Businesses should respect and promote human rights

3. Details of remuneration/salary/wages

a. Median remuneration/wages:

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

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.

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

10. Assessments for the year:

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

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:

7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity, 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

PRINCIPLE 8: Businesses should promote inclusive growth and equitable development

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

3. Describe the mechanisms to receive and redress grievances of the community.

SRF Ltd. Environmental & Social Information 2025

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