Voltas Ltd. - Environmental & Social Information 2023

26[th] May, 2023

BSE Limited National Stock Exchange of India Limited Department of Corporate Services Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East), Mumbai 400 051 Scrip Code: 500575 NSE Symbol: VOLTAS

Dear Sirs,

Sub: Business Responsibility and Sustainability Report for the Financial Year 2022-23

Pursuant to Regulation 34(2)(f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith Business Responsibility and Sustainability Report (BRSR) of the Company for the financial year 2022-23.

The BRSR is also available on the website of the Company at www.voltas.com as part of Voltas Annual Report 2022-23.
This is for your information and records.

Thanking you,

Yours faithfully, VOLTAS LIMITED

VARUN Digitally signed by VARUN PRAKASH PRAKASH MALHOTRA Date: 2023.05.26 MALHOTRA 21:07:17 +05'30'

V. P. Malhotra Head- Taxation, Legal & Company Secretary

Encl.

CORPORATE OVERVIEW STATUTORY REPORTS

FINANCIAL STATEMENTS

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

SECTION A: GENERAL DISCLOSURE

I. Details of the Listed Entity

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1 Corporate Identity Number (CIN) L29308MH1954PLC009371
2 Name Voltas Limited
3 Year of incorporation 6 September, 1954
Voltas House ‘A’, Dr. Babasaheb Ambedkar Road, Chinchpokli,
4 Registered office address
Mumbai 400 033
Voltas House ‘A’, Dr. Babasaheb Ambedkar Road, Chinchpokli,
5 Corporate address
Mumbai 400 033
6 E-mail [email protected]
7 Telephone 022-66656251
8 Website www.voltas.com
9 Financial year for which reporting is being done 2022-23
National Stock Exchange of India Limited (NSE) and BSE Limited
10 Name of the Stock Exchange(s) where shares are listed
(BSE)
11 Paid-up Capital ` 33.08 crores
Contact Person
Name of the Person Ms. Astrid Dias
12
Telephone 022 – 66656666
E-mail [email protected]
Reporting Boundary
13 Disclosures made in this report are on a standalone basis and
Type of Reporting
pertain only to Voltas Limited
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II. Product/Services

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14 Details of business S.No. Description of Main Description of Business Activity % Turnover of
activities (accounting Activity the Entity
for 90% of the 1 Unitary Cooling Products Room Air Conditioners, Air Coolers, 85.54%
turnover) Commercial Refrigeration products and
Commercial Air Conditioning.
2 Electro-Mechanical Projects Mechanical, Electrical and Plumbing 12.06%
and Services (MEP) and Water projects.
3 Engineering Products and Textile Machinery and Mining & 2.40%
Services Construction Equipment Business.
15 Products/Services S.No. Product/Service NIC Code % of Total
sold by the entity Turnover
(accounting for 90% contributed
of the turnover) 1 Unitary Cooling Products 28192 85.54%
2 Electro-Mechanical Projects 43219/43229 12.06%
and Services
3 Engineering Products and 33125/33127/46595/46599 2.40%
Services
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Note: Represents Turnover for part of the year as business was transferred to 100% Subsidiary during 2022-23.

Annual Report 2022-23 169

III. Operations

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16 Number of locations where plants and/ Location Number Number Total
or operations/offices of the entity are of plants of Offices
situated National 3 24 27
International NIL 13 13
17 Markets served by the entity
a. Number of Locations Locations Numbers
National (No. of States) 28 States, 8 UTs
International (No. of Countries) 20
b. What is the contribution of
exports as a percentage of the 2%
total turnover of the entity?
c. A brief on types of customers The main end users of Voltas products and services are households,
commercial and industrial establishments and Government Institutions. The
Company also executes MEP/Water projects of Public/Private sector. The
Company also executes retrofit jobs in existing equipment for consumers,
that enable energy efficiency and utilise waste heat, thus reducing energy
consumption.
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IV. Employees

18. Details as at the end of Financial Year

18.	Details as at the end of Financial Year	Details as at the end of Financial Year	Details as at the end of Financial Year
a.	Employees and workers (including diferently-abled)
b. 19.	S.No.	Particulars	Total (A)	Male			Female
				No.(B)	%(B/A)		No.(C)		%(C/A)
	Employees
	1	Permanent(D)	2,070	1,953	94%		117		6%
	2	Other than Permanent(E)	1,992	1,957	98%		35		2%
	3	Total Employees(D+E)	4,062	3,910	96%		152		4%
	Workers
	4	Permanent(F)	1,032	1,028	99.61%		4		0.39%
	5	Other than Permanent(G)	-	-	-		-		-
	6	Total Workers(F+G)	1,032	1,028	99.61%		4		0.39%
	Diferently abled employees and workers
	S.No.	Particulars	Total (A)	Male			Female
				No.(B)		%(B/A)	No.(C)		%(C/A)
	Employees
	1	Permanent(D)	1	1		100%	-		-
	2	Other than(E)	-	-		-	-		-
	3	Total diferently abled employees(D+E)	1	1		100%	-		-
	Workers
	4	Permanent(F)	-	-		-	-		-
	5	Other than Permanent(G)	-	-		-	-		-
	6	Total diferently abled workers(F+G)	-	-		-	-		-
	Participation/Inclusion/Representation of women
	S.No.	Category		Total (A)		No. and % of females
						No.(B)		%(B/A)
	1	Board of Directors		9		1		11.11%
	2	KeyManagement Personnel		3		--		--

170 Voltas Limited

CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

20. Turnover rate for permanent employees and workers for past 3 years

anent employees and workers for past 3 years	anent employees and workers for past 3 years	anent employees and workers for past 3 years	anent employees and workers for past 3 years	anent employees and workers for past 3 years
2022-23 2021-22					2020-21
Male	Female	Total Male	Female	Total	Male	Female	Total
27%	30%	27% 16%	20%	17%	11%	14%	11%
-	-	- -	-	-	-	-	-

V. Holding, Subsidiary and Associate Companies (including Joint Ventures)

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

S.No.	Name of the holding / subsidiary / associate companies / joint ventures (A)	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	Universal MEP Projects & Engineering Services Limited (UMPESL)	Subsidiary	100%	No
2	Hi-Volt Enterprises Private Limited	Subsidiary	100%	No
3	Voltas Netherlands B.V. (VNBV)	Subsidiary	100%	No
4	Universal MEP Projects Pte Limited (UMPPL)	Subsidiary	100%	No
5	Weathermaker FZE (WMF)	Subsidiary	100%	No
6	Saudi Ensas Company for Engineering Services & TradingW.L.L. (Saudi Ensas)	Subsidiary	100%	No
7	Lalbuksh Voltas Engineering Services & TradingL.L.C. (LALVOL)	Subsidiary	60%	No
8	Voltas Oman SPC (VOSPC)	Subsidiary	100%	No
9	Voltas Qatar W.L.L. (VQWLL)	Subsidiary*	49%	No
10	Voltbek Home Appliances Private Limited (Voltbek)	Joint Venture	49%	No
11	Universal Voltas L.L.C.	Joint Venture	49%	No
12	Olayan Voltas ContractingCompanyLimited	Joint Venture	50%	No
13	Naba Diganta Water Management Limited	Joint Venture	26%	No
14	Brihat TradingPrivate Limited	Associate	33.23%	No

due to control on composition of Board of Directors.
VI. CSR Details
22

Whether CSR is applicable asper Section 135 of Companies Act, 2013	Yes
Turnover (in ₹)	7,570.31 crores
Net worth (in ₹)	6,773.10 crores

VII. Transparency and Disclosures Compliances

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

Being a Tata Group company, Voltas Limited abides by the Tata Code of Conduct (TCoC), which is a comprehensive document for ethical conduct for all internal and external stakeholders of the Company covering 100% of its operations. TCoC consists of 10 sections with sub-clauses that cover employees, customers, communities and the environment, value

Annual Report 2022-23 171

chain partners, financial stakeholders, governments, and group companies. TCoC is expanded to Group JVs/Subsidiaries/ Suppliers/Contractors. For receiving complaints/grievances from stakeholders there are defined channels and these are addressed with expediency in upholding the ethical standards practiced in the Group.

Stakeholder group from whom complaint is received	Grievance	If Yes, then provide web-link	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Redressal Mechanism in Place (Yes/No)	for grievance redress policy	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	No	https://www.voltas.in/images/ ansel_image_collector/CSR Policy_%28Revised%29_11102021. pdf Nil		Nil	Nil Nil	Nil	Nil
Investors (other than shareholders)	Yes	https://www.voltas.in/investors/ disclosure-under-regulation-46- lodr/email-address-for-grievance- redressal https://www.voltas.in/fle- uploads/investor-toolkit/ Guidelines_governing_investors_ policy.pdf	Nil	Nil	Nil Nil	Nil	Nil
Shareholders	Yes		40	2	* 17	1	Resolved Subsequently
Employees	Yes	https://www.tata.com/content/ dam/tata/pdf/Tata%20Code%20 Of%20Conduct.pdf https://www.voltas.in/ fle-uploads/general/ POLICY_ON_RESPECT_FOR_ GENDER_%28POSH%29_1.pdf https://www.voltas.in/images/ ansel_image_collector/ETHICS AT_VOLTAS_1.pdf	Nil	Nil	Nil Nil	Nil	Nil
Customers	Yes	https://www.voltas.in/contact/ https://www.voltasservice.com/	56,87,333	60,513	These are complaints recorded through Company customer service processes 48,31,461	1,05,581	These are complaints recorded through Company customer service processes
Value chain partners	Yes**	https://www.voltas.in/ images/ansel_image_collector/ TATA_CODE_OF_CONDUCT_FOR VOLTAS_EMPLOYEE_2.pdf Nil		Nil	Nil Nil	Nil	Nil

Responded by the Company and pending with SEBI as on 31 March, 2023.

**With regards to suppliers and vendors and other agencies, the specific department under the business function resolves grievances raised. Value chain partners can also raise issues through the TCoC platform.

172 Voltas Limited

CORPORATE OVERVIEW STATUTORY REPORTS

FINANCIAL STATEMENTS

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

Material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to the Company’s business, rationale for identifying the same, approach to adapt or mitigate the risk along-with its financial implications, is stated hereunder.

Materiality Assessment is a foundational aspect of Voltas Limited given the influence material issues have on the business activities, stakeholders, and their ability to create sustainable value. In 2022-23, Material issues were reviewed concurrent with the evolving business environment, global ESG standards and basis previous year material issues.

S.No.	Material Issue Identifed	Whether risk or opportunity	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	Climate Change	Opportunity	Climate change provides an opportunity to innovate smart engineering products which are energy and resource efcient that enable to lead a comfortable living. Through the commercial refrigeration business, the Company intends to decrease food wastage which would further help in reducing Greenhouse Gas (GHG) emissions due to food wastages. Studies have suggested that climate change would also increase the spread of infectious diseases. The Company has entered into a Technology License Agreement to develop, manufacture, sell and service medical refrigeration and vaccine storage equipment.	NA	Positive
2	Climate Change	Risk	Climate change-related extreme weather conditions expose the Company’s operations, as well as the safety and well-being of its employees, at risk. Additionally, economic disruptions caused by transition risks could have an adverse efect on the growth and proftability of the Company.	• Safety trainings and awareness sessions are a mandate across operations, sites and ofces. This also includes emergency evacuation due to natural disasters. • Designing and Smart Engineering Products which are more sustainable and energy efcient, in order to meet the growing consumer demand as well as address the concerns related to climate change. • By switching to renewable energy for business operations, the Company aims to achieve Net Zero. Increasing the green cover in the locations where the Company operates aids in promotingbiodiversity.	Negative

Annual Report 2022-23 173

S.No.	Material Issue Identifed	Whether risk or opportunity	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)
3	Product Stewardship	Opportunity	Responsible management of a product throughout its lifecycle, from design to disposal, with the goal of minimising its environmental impact. Helps to reduce costs by improving the efciency of the production processes and reducing waste. IOBG encourage clients to utilise renewable energy sources and energy-efcient technology. Additionally, it helps to attract and retain customers who value sustainability of product and sustain leadershipin existingmarkets.	NA	Positive
4	Waste Management	Opportunity	Sustainable waste management practices and recycling can improve environmental performance and reduce dependency on virgin raw materials, while also potentially increasingfnancial returns.	NA	Positive
5	Health & Safety	Risk	Aiming to create a work environment where the employees, workers and vendors fourish. Health and safety risks can result in employee injuries and illness impacting productivity and increase in other related cost including external reputation which can negatively impact the Company’s bottom line.	Policies (internal) and rigorous trainings for employees and workers against health and safety hazards. The safety campaigns and conclaves communicate all signifcant hazards across sites, factories and ofces. The Company minimise safety and health risks by ofering the “Will to stop Work” if an employee, worker, or vendor considers the workplace unsafe to function in. The Company’s insurance program includes employees as well as service technicians.	Negative
6	Talent Development	Opportunity	Ability to attract, develop and retain a skilled workforce, can enhance innovation, productivity, and competitiveness. Efective talent management can also improve employee engagement, morale and job satisfaction, leading to reduced attrition and increased employee loyalty.	NA	Positive
7	Sustainable supply chain	Risk	Failure to implement sustainable practices in the supply chain can lead to reputational damage and loss of customer trust, as consumers become more environmentally conscious and demand more sustainable products.	Sustainable Supplier Assessment to ensure the sustainable practices are adopted in the supply chain resulting in improved environmental and social performance.	Negative

174 Voltas Limited

CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

S.No.	Material Issue Identifed	Whether risk or opportunity	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)
8	Regulatory Compliance	Opportunity	Regulatory compliance provides: an increase in the efciency of products; reduce risks; enables competitive advantage; and creates new business opportunities. Regulatory compliant businesses are less likely to face legal or regulatoryaction,and damage to reputation.	NA	Positive
9	Digitalization	Opportunity	Digitalization helps to automate and streamline business processes by reducing errors and therefore improves efciency and accuracy. The Company can understand and meet the needs of their customers in a better way by leveraging customer data and insights can personalise their oferings and improve the customer experience.	NA	Positive
10	Customer Centricity	Opportunity	Customer centricity provides an opportunity, to develop new products that are designed with a focus on increased efciency, safety and quality. It also helps in receiving customer feedback and understanding their needs and concerns to create products that are not only safe,but also meet the needs of customers.	NA	Positive
11	Business Ethics	Risk	Failure to adhere to business ethics can result in signifcant risks for a company. If a company is found to be engaging in unethical behavior, it can damage the company’s reputation and erode public trust creating a loss of customers, investors, and other stakeholders.	The Company adheres to the Tata Code of Conduct which serves as a guide to each employee and entire value chain, on the standards of values, ethics, and business principles. The Whistle Blower Policy of the Company provides a mechanism for the employees to approach the Chairman of Board Audit Committee/Ethics Counsellor and disclose information that may evidence unethical or improper activityconcerningthe Company.	Negative
12	Economic Performance & Market Share	Opportunity	Economic performance and market share provides an opportunity which can attract investment and it is key for current investors to be satisfed with consistent returns.	NA	Positive
13	Diversity and Inclusion	Opportunity	Diversity and inclusion give an opportunity to individuals with diferent backgrounds, experiences, and viewpoints to come together in a workforce that is diverse and inclusive. It can open a wide range of possibilities, including improved decision- making, increased consumer base, stronger employer brand, fostering economic development and improved reputation.	NA	Positive

Annual Report 2022-23 175

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

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

Principles and Core Elements.	Principles and Core Elements.
Disclosure Questions		P1	P2	P3	P4	P5	P6	P7	P8	P9
Policy and Management Processes
1	a. Whether your entity’s policy/policies cover each principle and its core elements of the NGRBCs. (Yes/No)	Y	Y	Y	Y	Y	Y	Y	Y	Y
	b. Has thepolicybeen approved bythe Board? (Yes/No)	Y	Y	Y	Y	Y	Y	Y	Y	Y
	c. Web Link of the Policies, if available	https://www.voltas.in/about/corporate-governance/
2	Whether the entity has translated the policy into procedures. (Yes / No)	Y	Y	Y	Y	Y	Y	Y	Y	Y
3	Do the enlisted policies extend to your value chain partners? (Yes/No)	Y	Y	Y	Y	Y	Y	Y	Y	Y
4	Name of the national and international codes/certifcations/labels/ standards (e.g., Forest Stewardship Council, Fairtrade, Rainforest Alliance, Trustee) standards (e.g., SA 8000, OHSAS, ISO, BIS) adopted by your entity and mapped to each principle.	Voltas policies are based on the NVG principles and aligned to the international standards like ISO 45001, ISO 9001 and United Nations SDGs. Voltas follows GRI standards for measuring and reporting its sustainability performance.
5	Specifc commitments, goals and targets set by the entity with defned timelines, if any.	Voltas is committed to providing customers with energy- efcient products and aspires to become net zero and waterpositive.
6	Performance of the entity against the specifc commitments, goals and targets along-with reasons in case the same are not met.	Performance of each of the principles is reviewed periodically by various Committees led by the Management and Board of Directors.

Governance, Leadership and Oversight

7 Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements

At Voltas, we have always believed in driving business with purpose. Through reporting, we would like to communicate to our stakeholders, our progress on Environmental, Social and Corporate Governance performance. Sustainability enables businesses to thrive in dynamically changing environments. Innovation and adaptation will be key to overcoming challenges and building resilience, especially in the ever-changing environments around us. We have been working in the past year to strengthen our commitments towards Sustainability, this includes integrating ESG risks to our Enterprise Risk Management framework; building aspirational goals of carbon neutral and water positive for our operations; investing in products and processes that are energy efficient; promoting products and services that help in lowering environmental impact; partnering with waste recyclers; and supporting communities. We believe Sustainability is a journey, and while we believe there is more work to be done, we are also poised to take up challenges and improvements through transforming our ways of doing business.

8 Details of the highest authority responsible for Managing Director & CEO implementation and oversight of the Business Responsibility policy (ies). 9 Does the entity have a specified Committee of the Board/ Director responsible for decision making on sustainability related issues? (Yes / No). If yes, provide details.

Yes, the Company has a Board level SHE Committee. SHE (Safety, Health and Environment) Committee gives direction and guidance to the Management on the aspects of Health, Safety and Sustainability. Further the SHE Committee looks into the overall safety management, industrial hygiene and occupational health requirements, not only required by law but through industry best practices. There is also a Board level CSR Committee that monitors CSR expenditures and implementation of projects based on annual action plans.

176 Voltas Limited

CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

10. Details of Review of NGRBCs by the Company

	Subject for Review Performance against above policies and follow upaction	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Whether review was undertaken by Director / Committee of the Board/ Any other Committee	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)
		P 1	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
		Y	Y	Y	Y	Y	Y	Y	Y	Y	A	A	A	A	A	A	A	A	A
	Compliance with statutory requirements of relevance to the principles, and rectifcation of anynon-compliances	Y	Y	Y	Y	Y	Y	Y	Y	Y	A	A	A	A	A	A	A	A	A
11.	Has the entity carried out independent assessment/ evaluation of the working of its policies by an external agency? (Yes/No). If yes, provide name of the agency										P 1	P 2	P 3	P 4	P 5	P 6	P 7	P 8	P 9
											N	N	N	N	N	N	N	N	N

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 categorised 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.

The TCoC’s principles serve as the foundation for Voltas Limited. The Company expect its workers to be familiar with the TCoC and to behave in accordance with its guidelines. To ensure thorough distribution of what is deemed ethical conduct and the consequences of non-adherence, there are regular training sessions for new hires and annual digital certification/re-certification learning program.

Segment	Total number of training and awareness programmes held	Topics/principles covered under the training and its impact	%age of persons in respective category covered by the awareness programmes
Board of Directors	-	Communication to and discussion with the Board Audit Committee on TCoC cases, annual compliance report that covers aspects of the TCoC and update on Ethics surveyoutcomes.	-
Key Management Personnel	2 on health and safety 2 on Ethics/TCoC	1. Anti-Bribery & Anti-Corruption (ABAC) Policy 2. Tata Code of Conduct (TCoC)* 3. Prevention of Sexual Harassment(POSH)	100%
Employees other than BODs and KMPs	5,196 on health and safety 3,191 - TCOC/ POSH/ETHICS	1. ABAC 2. TCoC 3. POSH 4. Health & Safety	100%
Workers	11,810 on safety 29 on TCoC/ POSH/ETHICS	1. TCoC 2. POSH 3. Health & Safety	100%

*Mandatory programme every 2 years.

Annual Report 2022-23 177

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 2022-23.

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.

Not Applicable

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.

Being a Tata group company, Voltas Limited adheres to the Tata Code of Conduct (TCoC). Clause 10 of TCoC focuses on anticorruption or anti-bribery policy, Section D: Our Employees, the guidance on Bribery and Corruption is outlined as: Our employees and those representing us, including agents and intermediaries, shall not, directly, or indirectly, offer or receive any unauthorised or inappropriate payments or similar benefits that are thought to be designed to procure favorable advantages for the manner in which our business is conducted. Emphasis is laid on violation by even a single employee of any law relating to anti-bribery, anti-corruption, anti-competition, data privacy, etc. resulting in severe financial penalties and irreparable reputational damage to the Company. The Company’s Ethics Counsellor, Officers, and Ethics Committee encourage and enable ethical behavior both internally and with all agencies or business partners (including but not limited to customers and vendors) in their interactions with the Company. People are given the opportunity to voice any concerns they may have about unethical behavior, and such issues are appropriately investigated in strict confidence so that the individual or people who report them do not face any repercussions.

Please refer to the link TATA_CODE_OF_CONDUCT_FOR_VOLTAS_ASSOCIATES_1.pdf for information on anti- corruption 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.

No Directors/KMPs/employees/workers were involved in bribery/corruption during the year under review and no action was taken by any law enforcement agency.

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

Topic	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Number	Remarks Number	Remarks
Number of complaints received in relation to issues of Confict of Interest of the Directors	Nil	NA Nil	NA
Number of complaints received in relation to issues of Confict of Interest of KMPs	Nil	NA Nil	NA

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.

Not Applicable

178 Voltas Limited

CORPORATE OVERVIEW STATUTORY REPORTS

FINANCIAL STATEMENTS

LEADERSHIP INDICATORS

1. Awareness programmes conducted for value chain partners on any of the Principles during the financial year

Total number of training and awareness programmes held	Topics/principles covered under the training and its impact	%age of persons in value chain covered by the awareness programmes
4-5	Annually, the Company conducts a two day vendor meet regionally with vendors who provide contractual workforce, where Environment, Health & Safety practices are discussed. These meets also include awards for Vendors who showcase good health and safety track record as well as environmental initiatives. Further, the Company also has a contractor management system based on an online platform for the purpose of tracking and maintaining information. The Company emphasises and ensures that suppliers adhere to TCoC, Health and Safety policy and sustainability indicatives.	81% of total vendors are critical suppliers of contractual workforce.

2. Does the entity have processes in place to avoid/ manage conflict of interests involving members of the Board? (Yes/ No) If Yes, provide details of the same.

Yes. The Company has a process to manage the conflict of interest involving Board Members. As per the requirements of the Companies Act, the disclosure of interest is required to be given by the Directors in prescribed Form MBP-1 which is brought to the attention at a Board Meeting and taken on record. Further, any transaction in which a Director is interested is brought to the attention of the Board and the interested Director (if any) does not participate in that discussion.

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.

Type 2022-23 2021-22	Details of improvement in social and environmental aspects
Research & Development (R&D) 28% --	Expenditure on energy efciencyrelated aspects
Capital Expenditure (CAPEX) 3% --	Expenditures on safety additions, fre prevention, energy efcient equipment

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

Yes. Company has a supplier sustainability code for RAC equipment and has established process for vendor selection. This includes various principles and guidelines such as Safety, Health and Environment Policy, Legal Compliance, adherence to TCoC, ISO Certification, etc. The Company has started carrying out a Sustainability assessment of its key suppliers for the Room Air Conditioner and Air Cooler businesses.

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

86% of suppliers of the Room Air Conditioners and Air Coolers business were assessed on ESG metrics like renewable energy usage, health and safety practices, environment, and social compliance etc.

Annual Report 2022-23 179

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.

Voltas is conscious to reduce, reuse, and recycle waste material. The Company has partnered with E-waste handlers/recyclers, PRO (Producer Responsibility Organisations) to efficiently collect (as per their collection targets) and dispose E-waste sustainably. Voltas has achieved more than 100% of its target of Recycling E-waste during 2022-23 – 17,559 MT as compared to 11,562 MT stipulated by the Central Pollution Control Board (CPCB).

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.

Yes. Extended Producer Responsibility is currently applicable to the Company’s activities and waste collection plan is in line with Pollution Control Board requirements. Annually, the Company submits the report to Pollution Control Board on the waste collected as per the EPR plan. Waste management plan of the Company considers the evolving regulations both from a waste minimisation and recycling/reuse perspective.

LEADERSHIP INDICATORS

1. Has the entity conducted Life Cycle Perspective / Assessments (LCA) for any of its products (for manufacturing industry) or for its services (for service industry)? If yes, provide details.

No Life Cycle Assessment carried out for any product of the Company.

2. If there are any significant social or environmental concerns and/or risks arising from production or disposal of your products / services, as identified in the Life Cycle Perspective / Assessments (LCA) or through any other means, briefly describe the same along-with action taken to mitigate the same.

Not Applicable

3. Percentage of recycled or reused input material to total material (by value) used in production (for manufacturing industry) or providing services (for service industry).

4. Of the products and packaging reclaimed at end of life of products, amount (in metric tonnes) reused, recycled, and safely disposed.

safely disposed.
	2022-23 2021-22
	Re-Used	Recycled	Safely Disposed Re-Used	Recycled	Safely Disposed
Plastics (including packaging)	NA	539.9	NA NA	-	NA
E-waste	NA	17,559	NA NA	13,277	NA
Hazardous waste	NA	860	NA NA	650	NA
Other waste	NA	758	NA NA	573	NA

5. Reclaimed products and their packaging materials (as percentage of products sold) for each product category.

Indicate product category	Reclaimed products and their packaging materials as % of totalproducts sold in respective category
Nil	Nil

180 Voltas Limited

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

ESSENTIAL INDICATORS

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

Category		% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by
	Total (A)	Health Insurance		Accident Insurance		Maternity Benefts		Paternity Benefts		Day Care Facilities
		No. (B)	% (B/A)	No. (C)	% (C/A)	No. (D)	% (D/A)	No. (E)	% (E/A)	No. (F)	% (F/A)
		Permanent Employees
Male	1,953	1,953	100%	1,953	100%	-	-	1,953	100%	-	-
Female	117	117	100%	117	100%	117	100%	-	-	-	-
Total	2,070	2,070	100%	2,070	100%	117	6%	1,953	94%	-	-
		Other than Permanent Employees
Male	1,957	1,866	95%	161	8%	-	-	161	8%	-	-
Female	35	35	100%	-	-	35	100%	-	-	-	-
Total	1,992	1,901	95%	161	8%	35	2%	161	8%	-	-

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

Category		% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by
	Total (A)	Health Insurance		Accident Insurance		Maternity Benefts		Paternity Benefts		Day Care Facilities
		No. (B)	% (B/A)	No. (C)	% (C/A)	No. (D)	% (D/A)	No. (E)	% (E/A)	No. (F)	% (F/A)
		Permanent Workers
Male	1,028	1,028	100%	1,028	100%	-	-	-	-	-	-
Female	4	4	100%	4	100%	4	100%	-	-	-	-
Total	1,032	1,032	100%	1,032	100%	4	0.39%	-	-	-	-
		Other than Permanent Workers
Male	-	-	-	-	-	-	-	-	-	-	-
Female	-	-	-	-	-	-	-	-	-	-	-
Total	-	-	-	-	-	-	-	-	-	-	-

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

S.No.	Benefts	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
		No. of employees covered as a % of total employees	No. of workers covered as a % of total worker	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 worker	Deducted and deposited with the authority (Y/N/N.A.)
1	PF	100%	100%	Y 100%	100%	Y
2	Gratuity	100%	100%	Y 100%	100%	Y
3	ESI	1.23%	-	Y 0.25%	-	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.

Yes, all working locations are accessible for differently-abled employees.

Annual Report 2022-23 181

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.

In accordance with the Tata Code of Conduct, Voltas does not unfairly discriminate on any ground, including race, caste, religion, colour, ancestry, marital status, gender, sexual orientation, age, nationality, ethnic origin, disability or any other category protected by applicable law. The Tata Affirmative Action Programme has the goal of enhancing the employability and entrepreneurial abilities of disadvantaged sections of society, women from economically disadvantaged backgrounds, and Person with disabilities, ensuring equal opportunity is provided.

**Tata Code of Conduct - Voltas (https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT_FOR VOLTAS_EMPLOYEE_2.pdf)**

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

Return to work and Retention rates of permanent employees and	workers that took parental leave.	workers that took parental leave.
Gender	Permanent Employees & Workers
	Return to work rate	Retention rate
Male*	100%	N.A
Female	100%	25%
Total	100%	25%

*Paternity leave was not applicable in FY 2021-22.

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.

Category	Yes/No	Details of the mechanism in brief
Permanent Workers	Yes	The mechanism to receive and redress grievances are POSH Internal Committee, Ethics Committee, Locational Ethics Councellors, Business HRs and CHRO.
Other than Permanent Workers	Yes
Permanent Employees	Yes
Other than Permanent Employees	Yes

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

Category	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	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)
	Permanent Employees
Male	-	-	- -	-	-
Female	-	-	- -	-	-
Total	-	-	- -	-	-
	Permanent Workers
Male	169	131	78% 138	101	73%
Female	6	6	100% 4	4	100%
Total	175	137	78% 142	105	74%

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FINANCIAL STATEMENTS

8. Details of training given to employees and workers.

a. Details of Skill training given to employees and workers.

Category	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Total employees / workers in respective category (A)	No. of employees / workers in respective category, who received Skill Training (B)	% (B/A) Total employees / workers in respective category (C)	No. of employees / workers in respective category, who received Skill Training (D)	%(D/C)
	Employees
Male	1,953	1,242	64% 2,273	1,104	49%
Female	117	60	51% 128	50	39%
Total	2,070	1,302	63% 2,401	1,154	48%
	Workers
Male	1,028	1,028	100% 1,110	1,110	100%
Female	4	4	100% 6	6	100%
Total	1,032	1,032	100% 1,116	1,116	100%

b. Details of training on Health and Safety given to employees and workers.

Category	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Total employees / workers in respective category (A)	No. of employees / workers in respective category, who received training on Health and Safety (B)	% (B/A) Total employees / workers in respective category (C)	No. of employees / workers in respective category, who received training on Health and Safety (D)	%(D/C)
	Employees
Male	1,953	1,953	100% 2,273	1,104	49%
Female	117	117	100% 128	50	39%
Total	2,070	2,070	100% 2,401	1,154	48%
	Workers
Male	1,028	1,028	100% 1,110	1,110	100%
Female	4	4	100% 6	6	100%
Total	1,032	1,032	100% 1,116	1,116	100%

Annual Report 2022-23 183

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

Category	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Total employees / workers in respective category (A)	No. of employees / workers in respective category, who had a career review (B)	% (B/A) Total employees / workers in respective category (C)	No. of employees / workers in respective category, who had a career review (D)	%(D/C)
	Permanent Employees
Male	1,942	1,777	92% 1,188	1,026	86%
Female	116	103	89% 65	53	82%
Total	2,058	1,880	91% 1,253	1,079	86%
	Permanent Workers
Male	169	169	100% 138	138	100%
Female	6	6	100% 4	4	100%
Total	175	175	100% 142	142	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, What is the coverage of such system?	Yes, the Occupational Health and Safety (OHS) system covers the Company’s employees, contract employees, vendors, and visitors.
b. What are the processes used to identify work-related hazards and assess risks on a routine and non-routine basis by the entity?	The Company provides periodic trainings to its employees and contractual workers on Health and Safety for identifying and reporting unsafe practices and areas. A robust framework is in place to identify and report unsafe practices and areas, to ensure safe working conditions. Inspections of the workspace, and evaluations of the equipment, tools, and machinery help to ensure workplace safety. Quantitative analysis; Hazard Identifcation and Risk Assessment; Internal and External Safety audits; SHE review meetings by Senior Management; Safety leadership audits enable robust work-related hazard identifcation and risk assessment. There is a Safety, Health and Environment (SHE) policy that serves as a framework to prevent and report injuries at workplace.
c. Whether you have processes for workers to report the work related hazards and to remove themselves from such risks. (Yes/No)	Yes. Employees and workers can report work-related hazards, near miss’s and incidents through manual and digital platforms in the form of safety portal, mobile app and QR code. The Hazard Identifcation and Risk Assessment (HIRA) process involves identifying work-related hazards; reporting unsafe practices and conditions; calculating the risk levels and taking control measures to prevent such incidents.
d. Do the employees/ workers of the entity have access to non-occupational medical and healthcare services? (Yes/ No)	Yes. Employees and workers have access to non-occupational medical healthcare services like pre-employment and periodic health check up.

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FINANCIAL STATEMENTS

11. Details of safety related incidents.

Details of safety related incidents.
Safety Incident/Number	Category 2022-23 2021-22
Lost Time Injury Frequency Rate (LTIFR) (per one million- person hours worked)	Employees - -
	Workers - -
Total recordable work-related injuries	Employees 6 5
	Workers 6 5
No. of fatalities	Employees - -
	Workers - -
High consequence work-related injury or ill-health (excluding fatalities)	Employees - -
	Workers - -

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

Voltas’ Safety-Health-Environment (S-H-E) Policy also highlights ‘environment friendly processes’, ‘prevention of pollution’ and ‘overall environmental protection’. The S-H-E Policy extends to all, including the Suppliers, Contractors and NGOs working with the Company.

Following are the measures taken by VOLTAS to ensure safe and healthy workplace:

Top driven Health and Safety management program.
SHE policy by top management.
Safety leadership program.
Digitisation for reporting of Hazard, Near miss and incident reporting.
E-Learning platform for SHE training.
SHE reviews by the Board S-H-E Committee.
SHE internal and external audits.
SHE inspection.
Integrated (ISO 45001 and 14001) management certification.
Contractor SHE management system.
SHE competency building program.
SHE conclave for contractors and vendors.

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

Topic	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Filed during the year	Pending resolution at the end of year	Remarks Filed during the year	Pending resolution at the end of year	Remarks
Working Conditions	Nil	Nil	NA Nil	Nil	NA
Health & Safety	Nil	Nil	NA Nil	Nil	NA

Annual Report 2022-23 185

14. Assessments for the year.

Topic	% of plants and ofces that were assessed (by entity or statutory authorities or thirdparties)
Health and safety practices	100%
WorkingConditions	100%

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.

The corrective actions include amendment in risk assessment, competency building program for employees and contract employees, actions on area of improvements, consequence management and reward and recognition.

LEADERSHIP INDICATORS

1. Does the entity extend any life insurance or any compensatory package in the event of death of (A) Employees (Y/N) (B) Workers (Y/N).

a. Employees (Yes/No): Yes
b. Workers (Yes/No): Yes

2. Provide the measures undertaken by the entity to ensure that statutory dues have been deducted and deposited by the value chain partners.

100% of statutory dues have been deducted and deposited by the value chain partners.

3. Provide the number of employees / workers having suffered high consequence work related injury / ill-health / fatalities (as reported in Q11 of Essential Indicators above), who have been rehabilitated and placed in suitable employment or whose family members have been placed in suitable employment.

Category	Total no. of afected employees/ workers	Total no. of afected employees/ workers	No. of employees/workers that are rehabilitated and placed in suitable employment or whose family members have beenplaced in suitable employment	No. of employees/workers that are rehabilitated and placed in suitable employment or whose family members have beenplaced in suitable employment
	2022-23	2021-22	2022-23	2021-22
Employees	- - - -
Workers	- - - -

4. Does the entity provide transition assistance programs to facilitate continued employability and the management of career endings resulting from retirement or termination of employment?

There are no transition assistance programs to facilitate continued employability and management of career endings resulting from retirement or termination of employement.

5. Details on assessment of value chain partners.

Topic	% of value chain partners (by value of business done with such partners) that were assessed
Health and safety practices	86% of Room Air Conditioners suppliers were assessed
WorkingConditions

6. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from assessments of health and safety practices and working conditions of value chain partners.

The corrective actions from assessments of health and safety practices and working conditions of value chain partners are Contractor Safety management, Consequence management, SHE conclave for awareness on safety.

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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.

Voltas Limited identifies its stakeholder groups through the Stakeholder Engagement.

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

group.
Stakeholder Group	Whether identifed as Vulnerable & Marginalised Group (Yes/No)	Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website)	Frequency of engagement (Annually/ Half yearly/ Quarterly)	Purpose and scope of engagement including key topics and concerns raised during such engagement
Communities	Yes	Meetings	Need base	-
Contractors	No	Surveys and Feedback Contractor Management Portals	Half yearly	-
Customers	No	Customer Feedback and Complaint Mechanism	Frequently	-
Dealers and Distributors	No	Feedback and Surveys	Halfyearly	-
Government and Regulatory Authorities	No	Meetings	Need base	-
IndustryAssociations	No	Conference	Halfyearly	-

LEADERSHIP INDICATORS

1. Provide the processes for consultation between stakeholders and the Board on economic, environmental, and social topics or if consultation is delegated, how is feedback from such consultations provided to the Board.

The Management periodically conducts Stakeholder Engagement and Materiality Assessment through which it consults the stakeholders on key ESG topics and arrive at material topics. This Materiality Assessment is reported to S-H-E Committee. Consumers have the accessibility to provide feedback on product efficiency.

2. Whether stakeholder consultation is used to support the identification and management of environmental, and social topics (Yes / No). If so, provide details of instances as to how the inputs received from stakeholders on these topics were incorporated into policies and activities of the entity.

Yes. Stakeholder inputs are obtained as part of our Stakeholder Engagement and Materiality Assessment, which serves as the foundation for developing material topics. Thereafter, a roadmap and goals are developed using the identified material topics.

3. Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/ marginalised stakeholder groups.

The CSR Committee reviews the CSR activities pursued by the Company, comprising skill upgradation programs, participatory Ground Water Management and Sustainable Agriculture Programme, Integrated Sanitation Programme etc., for marginalised communities. The Skill Training/RPL programs provide certifications and placement opportunities to the students.

Annual Report 2022-23 187

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.

Category	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Total (A)	No. of employees / workers covered (B)	% (B / A) Total (C)	No. of employees / workers covered (D)	% (D / C)
	Employees
Permanent	2,070	2,070	100% 2,118	2,118	100%
Other thanpermanent	1,992	1,992	100% 562	562	100%
Total Employees	4,062	4,062	100% 2,680	2,680	100%
	Workers
Permanent	1,032	1,032	100% 1,116	1,116	100%
Other thanpermanent	-	-	- -	-	-
Total Workers	1,032	1,032	100% 1,116	1,116	100%

2. Details of minimum wages paid to employees and workers.

Category		2022-23	2022-23	2022-23	2022-23	2021-22	2021-22	2021-22	2021-22
	Total (A)	Equal to Minimum Wage		More than Minimum Wage Total (D) No. (C) % (C / A)		Equal to Minimum Wage		More than Minimum Wage
		No. (B)	% (B / A)	No. (C)		No. (E)	% (E / D)	No. (F)	% (F /D)
		Employees*
Permanent	2,058	618	30%	1,440	70% 2,118	1,096	52%	1,022	48%
Male	1,942	580	30%	1,362	70% 1,996	1,031	52%	965	48%
Female	116	38	33%	78	67% 122	65	53%	57	47%
Other than Permanent	411	268	65%	143	35% 562	562	100%	-	-
Male	405	264	65%	141	35% 541	541	100%	-	-
Female	6	4	67%	2	33% 21	21	100%	-	-
		Workers*
Permanent	175	-	-	175	100% 188	-	-	188	100%
Male	169	-	-	169	100% 180	-	-	180	100%
Female	6	-	-	6	100% 8	-	-	8	100%
Other than Permanent	-	-	-	-	- -	-	-	-	-
Male	-	-	-	-	- -	-	-	-	-
Female	-	-	-	-	- -	-	-	-	-

*The remuneration related information mentioned is based on the employees from India only as their base location.

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FINANCIAL STATEMENTS

3. Details of remuneration/salary/wages.

Details of remuneration/salary/wages.
	Male		Female
	Number	Median remuneration/ salary/ wages of respective category	Number	Median remuneration/ salary/ wages of respective category*
Board of Directors (BoD)	8	`46 lakhs\|1\|`41 lakhs
Key Managerial Personnel	3**	`260 lakhs	-	Nil
Employees other than BoD and KMP	1,185	`11.57 lakhs\|65\|`9.99 lakhs
Workers	138	`7.79 lakhs\|4\|`11.97 lakhs

*The remuneration related information mentioned is based on the employees from India only as their base location.

**Also includes MD & CEO.

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)

The Company has specific clauses as part of the TCoC included in the business agreements and contracts / purchase orders. Human rights form a part of the TCoC. The Company does not employ children at its workplaces and does not use forced labour in any form. The Company’s Ethics Counsellor (CFO) receives complaints related to TCoC which are investigated and addressed.

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

The grievances related to human rights issues are addressed according to the Company policy.

**Tata Code of Conduct - Voltas https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT FOR_VOLTAS_EMPLOYEE_2.pdf**

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

	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22	2022-23 2021-22
	Filed during the year	Pending resolution at the end ofyear	Remarks Filed during the year	Pending resolution at the end ofyear	Remarks
Sexual Harassment	-	NA	NA -	NA	NA
Discrimination at workplace	-	NA	NA -	NA	NA
Child Labour	-	NA	NA -	NA	NA
Forced Labour/InvoluntaryLabour	-	NA	NA -	NA	NA
Wages	-	NA	NA -	NA	NA
Other human rights related issues	-	NA	NA -	NA	NA

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

The Company has adopted a Whistle Blower Policy which enables the employees to report concerns about unethical behavior, actual or suspected fraud or violation of Code of Conduct. The mechanism provides for adequate safeguards against victimisation of employees and provides direct access to the Chairman of the Board Audit Committee on concerns relating to financial matters.

As part of Whistleblower Policy and POSH Policy, the Company has a section mentioned on the protection of identity of the complainant. All such matters are dealt in strict confidence.
Also, as part of its Code of Conduct, the Company does not tolerate any form of retaliation against anyone reporting legitimate concerns. Anyone involved in targeting such a person will be subject to disciplinary action.

Annual Report 2022-23 189

8. Do human rights requirements form part of your business agreements and contracts? (Yes/No)

Yes. It is mandatory for all the Company’s vendors to adhere to the TCoC while signing business agreements and contracts.

9. Assessments for the year.

No third party assessment was carried out in manufacturing plants and offices on child labor, sexual harassment, etc. However, in Voltas, there is zero tolerance towards any such kind of issue and the Company adheres to TCOC which gives mandatory guidelines for protecting safety and security of children, employees and workers.

10. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 9 above.

Not Applicable

LEADERSHIP INDICATORS

1. Details of a business process being modified / introduced as a result of addressing human rights grievances/ complaints.

No such grievances on Human Rights violations.

2. Details of the scope and coverage of any Human rights due diligence conducted.

Not Applicable

3. Is the premise/office of the entity accessible to differently abled visitors, as per the requirements of the Rights of Persons with Disabilities Act, 2016?

Yes

4. Details on assessment of value chain partners.

Details on assessment of value chain partners.
	% of value chain partners (by value of business done with such partners) that were assessed
Sexual Harassment	86% of suppliers from the room air conditioners and air coolers business were assessed
Discrimination at workplace
Child Labour
Forced/InvoluntaryLabour
Wages

Declaration of adherence to the TCoC on the above is obtained from the value chain partners as part of their contract / purchase orders. The contracts are not renewed or are terminated in case of non-adherence to the Code of Conduct agreed upon.

5. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 4 above.

A declaration of adherence to the TCoC is obtained from the value chain partners as part of their contract / purchase orders. The contracts are not renewed or are terminated in case of non-adherence to the Code of Conduct agreed upon.

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

ESSENTIAL INDICATORS

1. Details of total energy consumption (in Joules or multiples) and energy intensity.

Parameter	2022-23	2021-22
Total electricityconsumption (A) (GJ)	42,651.46	52,842.77
Total fuel consumption (B) (GJ)	4,188.63	17,055.59
Energyconsumption through other sources (C) (GJ)	-	-
Total energy consumption (A+B+C) (GJ)	46,840.09	69,898.36
Energy intensity per rupee of turnover_(Total energy consumption/_	0.614	0.999
turnover in rupees) (GJper million`)

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

No

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.

No. None of the facilities have been identified as designated consumers (DCs) under the Performance, Achieve and Trade (PAT) Scheme of the Government of India.

3. Provide details of the following disclosures related to water.

Provide details of the following disclosures related to water.
Parameter	2022-23	2021-22
Water withdrawal by source (in kiloliters)
(i) Surface water	-	-
(ii) Groundwater	47,550.82	64,343.40
(iii) Third Party water	-	-
(iv) Sea water / desalinated water	-	-
(v) other	-	-
Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v)	47,550.82	64,343.40
Total volume of water consumption (in kiloliters)	47,550.82	64,343.40
Water intensity per rupee of turnover (Water consumed / turnover)	6.281	9.205
(kl per crore`of revenue)

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

No

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

Zero liquid discharge system is installed at the Waghodia factory as per the norms by the Pollution Control Board, as stated in the License to operate. The factories in Pantnagar are situated in an industrial zone with a common ETP to discharge wastewater.

Annual Report 2022-23 191

5. Please provide details of air emissions (other than GHG emissions) by the entity.

Parameter	Please Specify Unit 2022-23 2021-22
NOx	mg/m3 438.96 426.20
SOx	mg/m3 249.56 234.16
Particulate matter(PM)	mg/m3 291.02 243.13
Persistent organicpollutants(POP)	NA NA NA
Volatile organic compounds(VOC)	NA NA NA
Hazardous airpollutants(HAP)	mg/m3 - -
Others –please specify	PPM - -

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

No

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

Parameter	Unit 2022-23 2021-22
Total Scope 1 emissions (Break-up of the GHG into CO2,CH4,N2O,HFCs,PFCs,SF6,NF3,if available)	tCO2e 829.07 1,252
Total Scope 2 emissions (Break-up of the GHG into CO2,CH4,N2O,HFCs,PFCs,SF6,NF3,if available)	tCO2e 8,602.45 7,016.04
Total Scope 1 and Scope 2 emissions per rupee of turnover	tCO2e/₹ 1.14 x 10-7 1.18 x 10-7

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

No

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

Yes, since scope 1 and 2 emissions are governed by the energy consumption across all the operational locations. Various energy saving initiatives mentioned above have also been contributing to reducing the overall carbon emissions. The Company intends, to increase the renewable energy usage in its business operations, thus reducing carbon emissions. At Waghodia plant, the Company conducts periodic energy audits, which help reduce energy consumption and improve the energy efficiency.

8. Provide details related to waste management by the entity.

Provide details related to waste management by the entity.
Parameter	2022-23	2021-22
Total Wastegenerated(in metric tonnes)
Plastic waste(A)	24.55	9
E-waste(B)	27.00	-
Bio-medical waste(C)	NA	NA
Construction and demolition waste(D)	NA	NA
Batterywaste(E)	NA	NA
Radioactive waste(F)	NA	NA
Other Hazardous waste (Solid - Oily Clothes, Paint Residue, Spent Filter	2.41	8
Media,Liquid - Spent Oil) (G)
Other Non-hazardous waste generated (Paper/Cardboard, Wood,	1,265.88	817
Metal) (H).
Total(A+B + C + D + E + F + G+ H)	1,319.84	834

192 Voltas Limited

CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

Provide details related to waste management by the entity (Contd.)

Parameter	2022-23	2021-22
For each category of waste generated, total waste recovered through recycling, re-using or other recovery
operations(in metric tonnes)
Categoryof waste
(i) Recycled*	-
(ii) Re-used	-	-
(iii) Other recoveryoperations	-	-
Total	-	-

For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)

Category of waste
(i) Incineration	1.02	-
(ii) Landflling	-	-
(iii) Other disposal operations	-	-
Total	1.02	-

*Non-hazardous waste is efficiently managed and whatever can be sent for recycling is sent to the authorised vendors. Hazardous waste generated is disposed through Pollution Control Board certified waste collectors.

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

9. 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.

The hazardous waste from the manufacturing and operational plants primarily includes paint containers, used oil and paint. The non-hazardous waste in factories/offices are efficiently managed and sent for recycling to the authorised vendors. It typically consists of plastic and paper.

10. 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, specify details.

S.No.	Location of operations/ofces	Type of operations	Whether the conditions of environmental approval / clearance are being complied with? (Y/N) If no, the reasons thereof and corrective action taken, if any.
	Not Applicable		No ofces or operations arepresent in ecologicallysensitive areas

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

Name and brief details of project	EIA Notifcation No.	Date	Whether conducted by independent external agency (Yes / No)	Results communicated in public domain (Yes / No)	Relevant Web link
Not Applicable

Annual Report 2022-23 193

12. 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.

S.No.	Specify the law / regulation / guidelines which was not complied with	Provide details of the non- compliance	Any fnes / penalties / action taken by regulatory agencies such as pollution control boards or by courts	Corrective action taken, if any
Not Applicable

Yes, the Company is compliant with the applicable environmental laws/ regulations/ guidelines in India.

LEADERSHIP INDICATORS

1. Provide break-up of the total energy consumed (in Joules or multiples) from renewable and non-renewable sources.

Parameter	2022-23	2021-22
	in GJ	in GJ
From renewable sources
Total electricityconsumption (A)	4,471.17	3,815.36
Total fuel consumption (B)	-	-
Energyconsumption through other sources (C)	-	-
Total energy consumed from renewable sources (A+B+C)	4,471.17	3,815.36
From non-renewable sources
Total electricity consumption (D)	38,179.74	49,027.40
Total fuel consumption (E)	4,188.63	17,055.59
Energy consumption through other sources (F)	-	-
Total energy consumed from non-renewable sources (D+E+F)	42,368.37	66,082.99

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

Yes. The Company has carried out third party energy audit for energy consumption at Waghodia plant. Soham Technologies is the agency that conducted the same.

2. Provide the following details related to water discharged.

Provide the following details related to water discharged.	Provide the following details related to water discharged.
Parameter		2022-23	2021-22
Water discharge bydestination and level of treatment (in kilolitres)
(i)	To Surface water	-	-
	- No treatment	-	-
	- With treatment –please specifylevel of Treatment	-	-
(ii)	To Groundwater	-	-
	- No treatment	-	-
	- With treatment –please specifylevel of Treatment	-	-
(iii)	To Seawater	-	-
	- No treatment	-	-
	- With treatment –please specifylevel of Treatment	-	-

194 Voltas Limited

CORPORATE OVERVIEW STATUTORY REPORTS

FINANCIAL STATEMENTS

Parameter	Parameter	2022-23	2021-22
(iv)	Sent to third-parties	-	-
	- No treatment	-	-
	- With treatment PrimaryTreatment and sent to CETP	5,052	5,616
(v)	Others	-	-
	- No treatment	-	-
	- With treatment (used for Gardening)	5,767	7,820
Total water discharged (in kilolitres)		10,819	13,436

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

3. Water withdrawal, consumption, and discharge in areas of water stress (in kilolitres).

For each facility / plant located in areas of water stress, provide the following information:

(i) Name of the area (ii) Nature of operations (iii) Water withdrawal, consumption and discharge	None of our factories or ofces withdraw, consume and discharge water in areas of water stress.	None of our factories or ofces withdraw, consume and discharge water in areas of water stress.

Parameter	2022-23	2021-22
Water withdrawal by source (in kilolitres)
(i) Surface water
(ii) Groundwater
(iii) Others Total volume of water withdrawal (in kilolitres)		Not Applicable
Total volume of water consumption (in kilolitres)
Water intensity per rupee of turnover(Water consumed / turnover)
Water discharge by destination and level of treatment (in kilolitres)

(i)	Into Surface water
	- No treatment
	- With treatment –please specifylevel of treatment
(ii)	Into Groundwater
	- No treatment
	- With treatment –please specifylevel of treatment	Not Applicable
(iii)	Into Seawater
	- No treatment
	- With treatment –please specifylevel of treatment
Recycled water

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency - No.

Annual Report 2022-23 195

4. Please provide details of total Scope 3 emissions & its intensity.

Parameter	Unit 2022-23 2021-22
Total Scope 3 emissions (Break-up of the GHG into CO2, CH4, N2O,HFCs,PFCs,SF6,NF3,if available)	tCO2e - -
Total Scope 3 emissionsper rupee of turnover	tCO2e - -
Total Scope 3 emission intensity (optional) – the relevant metric maybe selected bythe entity	tCO2e - -

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency - No.

5. With respect to the ecologically sensitive areas reported at Question 10 of Essential Indicators above, provide details of significant direct & indirect impact of the entity on biodiversity in such areas along-with prevention and remediation activities.

Not Applicable

6. If the entity has undertaken any specific initiatives or used innovative technology or solutions to improve resource efficiency, or reduce impact due to emissions / effluent discharge / waste generated, please provide details of the same as well as outcome of such initiatives.

The specific initiatives and innovative technology undertaken for the Company’s products and services is described in the below table:

S.No.	Innovation in Product, Process and Technology	Details of the Innovation	Energy Efcient	Water Conservation	Material Reduction	Emissions Management
1	Voltas Maha Adjustable Inverter AC	This has been upgraded to have unique 6-Stage adjustable mode which runs on diferent tonnages, as per customer needs (i.e., depending on the ambient temperature or number of people in the room). Hence, it not only provides comfort, but also saves electricity costs. Six Stage Adjustable Mode delivers predefned lower and higher cooling capacity by controlling inverter compressor’s running frequencies. This technology has the potential to save additional energy by approximately 15% over a normal Inverter Air-conditioner.				
2	Pure-Air Inverter AC with HEPA Filter	The Pure-Air inverter AC is one of the newly launched products of Voltas with a unique HEPA flter technology. This flter purifes indoor air and provides anti-microbial protection. The air conditioner has a particulate matter sensor with air quality index (‘AQI’) indicator. The indicator shows the particulate matter present in the air with highest accuracy. It also operates on an ecofriendlyrefrigerant.				

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CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

S.No.	Innovation in Product, Process and Technology	Details of the Innovation	Energy Efcient	Water Conservation	Material Reduction	Emissions Management
3	Air Conditioners with protective coating to cooling coil	To augment the efciency of an indoor air conditioner by limiting the refrigerant leakage from the cooling coil, an anti- corrosive protective coating has been added to it. The coating acts as a barrier and prevents copper corrosion from the evaporator coolingcoil.				
4	Introduction of compact and efcient 18K 3-star inverter and 18K 2-star fxed speed AC models	18K 3 Star Inverter and 18K 2 Star Fixed speed AC models were launched with a compact indoor unit (IDU) whereas the specifcation of the outdoor unit (ODU) remained the same. Since the platform size of the IDU has been reduced, the consumption of raw materials like copper and plastic were reduced, thereby also lowering the gas charge quantity by approximately 20%. This not only reduced material consumption but also thequantityof refrigerantgas.				
5	Air conditioners with high efciency grove technology	In the 2022 product range of outdoor unit air conditioners, high efciency grooved copper tubes were used. These tubes had a smaller diameter (5mm, vis-à-vis 7mm used previously). The smaller diameter resulted in reduction in the size of the heat exchanger in copper tube by 15%. This initiative also reduced resource consumption as well as thequantityof refrigerantgas.				
6	Chest freezers and Chest Coolers with R290 refrigerant	The chest freezers and coolers require lower quantities of R-290 Refrigerant (than the previously used R134a). Further, R-290 is better from an environment perspective as it has a lesser Global Warming Potential (GWP)when compared to other refrigerants.				
7	Installation of 500 CFM Screw Type Air Compressor with VFD (variable frequency drive)	The new type of air compressor in the manufacturing operations at Pantnagar is more energy efcient and uses no water. Thereby leading to energy savings of ~40%, and bringing the water consumed in the process from 1248 KL per annum to 0. Moreover, this process is helping the Company save on repair and maintenance cost byabout 70%.				

7. Does the entity have a business continuity and disaster management plan?

The Company has On Site Emergency Management Plan (OSEMP) that explains the code of conduct of all personnel in the plant along with the actions to be carried out in the event of an emergency. This plan gives guidelines for employees, contractors, transporters, etc. It not only defines the responsibilities of individuals but also explains about prompt rescue operations,

Annual Report 2022-23 197

evacuations, rehabilitation, coordination, communication, and the system of getting outside help from Government authorities and neighboring industries. Procedure for Emergency, Preparedness, and Response addresses the basic procedures that will be used by the plant when responding to an emergency. This plan covers responses to the following types of emergencies:

(a) Spills/releases or environmental releases
(b) Fires
(c) Explosions
(d) Medical emergencies such as Food Poisoning, COVID -19 disease
(e) Natural Disaster such as Flood, Earthquake, lightening etc.

8. Disclose any significant adverse impact to the environment, arising from the value chain of the entity. What mitigation or adaptation measures have been taken by the entity in this regard.

No. The Company ensures that the waste recyclers responsibly handle the e-waste collected and further send it for recycling. Mechanisms are in place to prevent leakage of refrigerant gases. The Company’s energy efficient products help to reduce the energy consumption.

9. Percentage of value chain partners (by value of business done with such partners) that were assessed for environmental impact.

86% of RAC and Air Coolers suppliers (OEMs) were assessed for environmental impact during 2022-23.

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.

  - Voltas Limited is a member of 7 trade associations/ bodies dedicated to the related industry sector.

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

S.No.	Name of the trade and industry chambers/ associations	Reach of trade and industry chambers/ associations (State/National)
1	Refrigeration and AirconditioningManufacturers Association (RAMA)	National
2	Bureau of Indian Standards (BIS)	National
3	ODS Committee formed by MoEF & CC (Ministry of Environment, Forest, and Climate Change)	National
4	Consumer Electronics and Appliances Manufacturers Association (CEAMA)	National
5	BombayChamber of Commerce & Industry(BCCI)	National
6	Indian Merchants Chamber (IMC)	National
7	Indian Societyof Heating, Refrigerating& Air ConditioningEngineers (ISHRAE)	National

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

Name of Authority	Brief of the case	Corrective action taken
No cases

198 Voltas Limited

CORPORATE OVERVIEW STATUTORY REPORTS

FINANCIAL STATEMENTS

LEADERSHIP INDICATORS

1. Details of public policy positions advocated by the entity.

The Company’s Managing Director & CEO and the R&D Head advocates public policy prescribed by Bureau of Energy Efficiency (BEE), Government of India and the Ozone Cell of Ministry of Environment, Forest and Climate Change, as and when required.

PRINCIPLE 8: Businesses should promote inclusive growth and equitable development.

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

Not Applicable

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

The Company has not undertaken any Rehabilitation and Resettlement (R&R) as none of its business activities have direct / indirect impact that required R&R.

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

CSR Partners have direct interaction with communities and redress the grievances raised, if any.

4. Percentage of input material (inputs to total inputs by value) sourced from local or small-scale suppliers?

	2022-23	2021-22
Directlysourced from MSMEs/ Smallproducers	20%	15%
Sourced directlyfrom within the district and neighboringdistricts	8.43%	10.14%

LEADERSHIP INDICATORS

1. Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact Assessments (Reference: Question 1 of Essential Indicators above).

Not Applicable.

2. Provide the following information on CSR projects undertaken by your entity in designated aspirational districts as identified by government bodies.

S.No	State	Aspirational District	Amount spent(₹)
1	Uttarakhand	Udham Singh Nagar	44.92 lakhs
2	Andhra Pradesh	Vizianagaram	3.55 lakhs
3	Bihar	Muzafarpur	Since this is a knowledge partnership, Voltas supports the implementing partner with content curation, technical knowhow, monitoring of the project,trainingthe trainers,conductingassessment of the students etc.

3. Do you have a preferential procurement policy where you give preference to purchase from suppliers comprising marginalised /vulnerable groups? (Yes/No)

No. The Tata Affirmative Action Programme offers development programs to encourage vendor-entrepreneurs and source from vendors in marginalised communities.

4. Details of the benefits derived and shared from the intellectual properties owned or acquired by your entity (in the current financial year), based on traditional knowledge.

Not Applicable, no benefits derived and shared from the intellectual properties owned or acquired.

Annual Report 2022-23 199

5. Details of corrective actions taken or underway, based on any adverse order in intellectual property related disputes wherein usage of traditional knowledge is involved.

Not Applicable.

6. Details of beneficiaries of CSR Projects.

S.No.	CSR Project	No of persons benefted from CSR Projects	% of benefciaries from vulnerable and marginalisedgroup
1	Skill Development Programme- PAN India	7,679	100
2	Participatory Ground Water Management and Sustainable Agriculture Programme- Beed	2,000	100
3	Integrated Sanitation Programme- Waghodia	1,400	100
4	Mid DayMeal- Waghodia	2,700	100
5	Mid DayMeal- Panvel	40	100
6	Support in treatment ofpatients fghtingcancer- Ranchi	6,500	100
7	Support in treatment ofpatients fghtingcancer- Mumbai	98	100
8	Support in education of children with special needs- Mumbai	21	100
9	School infrastructure upgradation- Jodhpur	110	100
10	School infrastructure upgradation- Mumbai	55	100
11	Equipment support to skill development centers- Chennai	110	100
12	Equipment support to skill development centers- Mumbai	140	100
13	Support to libraries- Pan India	10,000	-

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.

The Company receives consumer grievances and servicing requests through telephone and digital medium (Emails, Whatsapp, Dealer application), and endeavours to provide support within 24 hours. Further, for the Commercial Air-Conditioning business, the Company provides operations and maintenance (O&M) contracts, retrofit design and execution, predictive maintenance. Following are the steps involved in the customer service request,

(a) Customer can create the service request on Voltas customer care through Phone call / Whatsapp.
(b) Align technician to resolve product issue.
(c) After satisfactory resolution-technician receives an OTP from customer for Service Request closure in system.
(d) As soon as customer service request is closed in the Voltas system, the customer will get the NPS web-link via SMS on registered number to share the feedback.

2. Turnover of products and/ services as a percentage of turnover from all products/service that carries below information.

information.
	As apercentage to total turnover
Environmental and socialparameters relevant to theproduct	100%
Safe and responsible usage	100%
Recyclingand/or safe disposal	100%

200 Voltas Limited

CORPORATE OVERVIEW

STATUTORY REPORTS

FINANCIAL STATEMENTS

3. Number of consumer complaints.

	2022-23	2022-23	Remarks	2021-22	2021-22	Remarks
	Received during the year	Pending resolution at end ofyear		Received during the year	Pending resolution at end ofyear
Dataprivacy	-	-	NA	-	-	NA
Advertising	-	-		-	-
Cyber-security	-	-		-	-
Deliveryof essential services	-	-		-	-
Restrictive Trade Practices	-	-		-	-
Unfair Trade Practices	-	-		-	-
Others	65	229*		40	210*

Total pending consumer court cases as at the end of the respective financial year, includes cases pending from previous years that were not closed.

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

There are no instances of product recalls or forced recalls on account of safety issue.

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.

Yes, The Company has an IT security policy to ensure proper use of its IT Systems, which may include but is not limited to E-mail, applications, computers, peripherals, network, communication Systems, IT equipment, IT facilities, IT infrastructure, Information, and Data, Users of the Company’s IT Systems are aware of what the Company deems to be acceptable and unacceptable use of IT Systems. This policy additionally ensures the protection of any confidential and proprietary information of the business or of customers, vendors, or partners.

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.

No known data breach / incident related to Customer data. Hence, not applicable. However, on a continuous basis, the Company keeps enhancing its IT Security Posture as part of Cyber Security preparedness, by implementing tools, practices, policies, awareness etc.

LEADERSHIP INDICATORS

1. Channels / platforms where information on products and services of the entity can be accessed (provide web link, if available).

The information on the products can be accessed on the www.voltas.com.

2. Steps taken to inform and educate consumers about safe and responsible usage of products and/or services.

Apart from the labels that give out specific information related to products from energy consumption, efficiency, disposal etc, various online platforms like websites and social media platforms are used to communicate safe product usage from unpacking to connecting with customer service for installation, service and maintenance. Components and their mechanisms related to products are also explained through videos for awareness of the consumers as well as service technicians.

Annual Report 2022-23 201

3. Mechanisms in place to inform consumers of any risk of disruption/discontinuation of essential services.

The commercial air conditioning business also caters to hospitals, and hence these services become crucial. Following is the list of mechanisms to specifically enable uninterrupted maintenance in such areas of work:

Essential Applications / Job sites such as Hospitals etc. mostly have centralised AC equipment (chillers), with adequate redundancy built into the HVAC System, in the form of standby Units. Through periodic Preventive Maintenance Services as well as by Remote Monitoring of Chillers (under AMC) all the AC equipment, including standby units, it is ensured that all these are always functional. This, therefore enables zero disruption even in cases of breakdown due to unforeseen circumstances.
For external disruptions, such as lockdown during COVID, uninterrupted maintenance services were rendered by AMC Engineers to Hospitals and COVID Centres, by arranging special travel passes for emergency services with the support from the customers from the respective essential services.

4. Does the entity display product information on the product over and above what is mandated as per local laws? (Yes/ No/Not Applicable)? If yes, provide details in brief.

Yes. Apart from the product information required as per mandates, the Company displays additional information depending on the type of products: like the type of refrigerant; type of air conditioner – Inverter or fixed speed; customer service information; safety instructions; details on the blowing agent for commercial refrigeration products etc.

5. Did your entity carry out any survey regarding consumer satisfaction relating to the major products / services of the entity, significant locations of operation of the entity or the entity as a whole? (Yes/No)

Yes, Voltas is actively engaged with its customers through various initiatives and feedback processes. The Company is committed to deliver innovative and efficient product solutions to drive customer satisfaction and trust. At present, customer satisfaction score stands at 84.1%.

6. Provide the information related to number of instances of data breaches along-with its impact and percentage of data breaches involving personally identifiable information of customers.

The Company did not have any incidents of data breach related to customer information.

202 Voltas Limited

AI assistant

Voltas Ltd. — Environmental & Social Information 2023

60718_rns_2023-05-26_e5fc01ec-320e-4f1e-ac31-ecd39d248a41.pdf

Sub: Business Responsibility and Sustainability Report for the Financial Year 2022-23

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

SECTION A: GENERAL DISCLOSURE

I. Details of the Listed Entity

III. Operations

IV. Employees

18. Details as at the end of Financial Year

20. Turnover rate for permanent employees and workers for past 3 years

V. Holding, Subsidiary and Associate Companies (including Joint Ventures)

VII. Transparency and Disclosures Compliances

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

24. 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

ESSENTIAL INDICATORS

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

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

LEADERSHIP INDICATORS

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

ESSENTIAL INDICATORS

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

LEADERSHIP INDICATORS

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.

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

Tata Code of Conduct - Voltas (https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT_FOR VOLTAS_EMPLOYEE_2.pdf)

8. Details of training given to employees and workers.

a. Details of Skill training given to employees and workers.

b. Details of training on Health and Safety given to employees and workers.

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

10. Health and safety management system.

11. Details of safety related incidents.

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.

LEADERSHIP INDICATORS

5. Details on assessment of value chain partners.

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

ESSENTIAL INDICATORS

LEADERSHIP INDICATORS

PRINCIPLE 5: Businesses should respect and promote human rights

ESSENTIAL INDICATORS

3. Details of remuneration/salary/wages.

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

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

Tata Code of Conduct - Voltas https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT FOR_VOLTAS_EMPLOYEE_2.pdf

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

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

8. Do human rights requirements form part of your business agreements and contracts? (Yes/No)

9. Assessments for the year.

10. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 9 above.

LEADERSHIP INDICATORS

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

ESSENTIAL INDICATORS

No

3. Provide details of the following disclosures related to water.

No

5. Please provide details of air emissions (other than GHG emissions) by the entity.

No

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

No

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

8. Provide details related to waste management by the entity.

Provide details related to waste management by the entity (Contd.)

LEADERSHIP INDICATORS

2. Provide the following details related to water discharged.

3. Water withdrawal, consumption, and discharge in areas of water stress (in kilolitres).

4. Please provide details of total Scope 3 emissions & its intensity.

7. Does the entity have a business continuity and disaster management plan?

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

ESSENTIAL INDICATORS

LEADERSHIP INDICATORS

PRINCIPLE 8: Businesses should promote inclusive growth and equitable development.

Voltas Ltd. Environmental & Social Information 2023

**Tata Code of Conduct - Voltas (https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT_FOR VOLTAS_EMPLOYEE_2.pdf)**

**Tata Code of Conduct - Voltas https://www.voltas.in/images/ansel_image_collector/TATA_CODE_OF_CONDUCT FOR_VOLTAS_EMPLOYEE_2.pdf**