Nirma Limited acquires 75% controlling stake from Glenmark Pharmaceuticals On 6 March 2024, Nirma Limited acquired 91,895,379 equity shares (75% of paid-up capital) from Glenmark Pharmaceuticals Limited, becoming the new promoter. Chairman, NED V.S. Mani, Independent Director Sridhar Gorthi resigned; three new directors appointed including Hiren K. Patel as Chairman.
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Water Neutral by 2027 target Identifying opportunities to reduce & replenish water usage; implementing water harvesting & conservation projects to be Water Neutral by 2027.
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Expanded GHG reporting boundary to all 4 factories + corporate office In FY 22-23, not all units of GLS were included in GHG quantification. In FY 23-24 disclosures, all units (1 Corporate Office and 4 Factories) have been considered. This explains the large increase in Scope 1 emissions from 12,798 tCO2e to 667,131 tCO2e. Also, steam purchased from common coal fired boiler for Ankleshwar was added in FY24 Scope 1.
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New brand identity planned under Nirma ownership With Nirma's support, the Company will embark on creating a new brand identity to reflect the core DNA, with a renewed sense of urgency and purpose.
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Hybrid wind+solar power and bio-briquette boilers replacing fossil fuels In FY24, 9.18% of electricity (76,58,883 kWh) was contributed from renewable energy sources. Ankleshwar plant uses hybrid (solar+wind) power, with 21% of total annual power from hybrid sources (1,00,49,106 kWh out of 4,81,85,820 kWh). Bio-briquette boilers installed at Mohol, Dahej and Ankleshwar facilities to replace fossil fuel boilers. Total renewable energy share targets to grow as part of Carbon Neutral by 2030 commitment.
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Primary: Energy efficiency in manufacturing operations Multiple energy conservation projects: replaced reciprocating brine compressors with energy-efficient screw-type (43 TR), AHU chilled water temp optimization, breathing air compressor pressure reduction, LED lighting replacement, VFD on AHU blowers. Total FY24 savings: 5.89 lakh kWh and INR 48 lakh per annum from refrigeration/utility improvements alone. Specific steam consumption decreased from 260kg/kg in FY23 to 183.3kg/kg in FY24; specific power consumption from 121 to 105.29 kWh/kg.
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Primary: Fuel switching from natural gas/diesel to bio-briquette boilers Bio-briquette-based boiler installed at Mohol plant (shifted from bio-diesel-based boiler), Dahej facility (FY23), and Ankleshwar facility (FY24). This change is one driver of the large jump in reported Scope 1 emissions as bio-briquette fuel is now categorized as Scope 1 in FY24 reporting.
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Dependent: Backward integration of KSMs to reduce supply chain emissions Backward integration plant of 208 KL capacity at Ankleshwar to manufacture Key Starting Materials (KSMs) and intermediates in-house rather than imports from China. New Solapur facility will add 400 KL for backward integration. Reduces reliance on imported intermediates and associated transport/supply-chain emissions.
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Carbon Neutral by 2030 target Company committed to be Carbon Neutral by 2030 by identifying green initiatives - renewable energy, energy efficiency etc. to reduce from current levels of GHG emissions.
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Zero Waste to Landfill by 2027 Moving towards cleaner methods of waste disposal; prioritising co-processing & pre-processing as cleanest form of disposal to achieve Zero Waste to Landfill by 2027.
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