GRANULES INDIA LIMITED

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Granules has installed 320 KWp rooftop solar at Gagillapur (with another 660 KWp under commissioning), generating 359 MWh. Procured 6,528 MWh renewable electricity through PPA for Gagillapur and 33,000 MWh of I-RECs for Gagillapur and Bonthapally units. These initiatives raised renewable energy share to 47.4% of electricity mix in FY23-24. GIL-GGP alone achieved 17.98% renewable energy utilisation.

Granules does not disclose any durable carbon removals (DAC, BECCS, biochar). Climate plan focuses on absolute emission reduction (42% by FY30) with renewable electricity certificates (33,000 MWh I-RECs) offsetting 23,628 tCO2e. The firm does not distinguish removals from offsets in its disclosures.

• Energy efficiency / Carbon Emission Reduction Measures (CERMs)

  Partnered with Siemens to identify CERMs. Implemented vacuum pump replacement (70,296 kWh saved), EC blowers (474,272 kWh), RT pump interlocks (28,244 kWh), VFDs, auto cut-off cooling fans, automatic chiller tube cleaning. Total annual energy savings of 915,945 kWh and INR 120.23 lakhs in cost savings across all units in FY23-24.

• Downstream distribution emissions (Scope 3 Cat 9)

  Downstream transportation contributes 24,827 tCO2e (FY24, up from 22,381 in FY23). Distance-based methodology applied. Part of value chain decarbonization roadmap focused on logistics optimization across 80+ export markets.

• Alternative fuels for boilers at Bonthapally and Gagillapur

  Targeting techno-commercial feasibility of alternate fuels for boilers at Bonthapally and Gagillapur. HSD consumption reduced by 31.6%, coal by 1.9%, FO by 1.4% in FY23-24. Internal Carbon Pricing (ICP) to be developed by FY25.

• Supplier Sustainability Program / Scope 3 Cat 1 reduction

  Purchased goods & services dominate Scope 3 at 514,516 tCO2e (~81% of Scope 3). Launched Supplier Sustainability Program engaging key suppliers to disclose emissions, develop SBTi-aligned targets, share product carbon footprints, and adopt renewable energy. Target: strategic suppliers to set science-based targets by FY27. Supplier-specific method used for >80% of value chain Scope 3 calculation.

• Green molecules platform via Granules CZRO

  Granules CZRO subsidiary launched to reimagine pharmaceutical manufacturing with green chemistry. Pilot plant for DCDA set up at Visakhapatnam. Aims to decarbonise backward integration for paracetamol and metformin. Academic partnership with NIPER Mohali on Centre of Excellence for Innovative and Sustainable Pharmaceutical Development.