Scope 1 & 2 reduction targets set; Scope 3 SBTi validation planned by FY26 Hikal has set internal Scope 1 and Scope 2 emissions reduction targets and calculated FY 2024-25 Scope 3 emissions. The company is currently a signatory to SBTi for near-term targets and plans to submit for SBTi target validation by end of FY 2025-26. FY 2025 will be designated as the baseline year.
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More granular Scope 3 Cat 1 (Purchased Goods) calculation In FY 2024-25, Hikal adopted a more granular approach for calculating emissions from purchased goods and services. Reported Scope 3 rose 38% YoY, but on a like-for-like basis emissions decreased 14%. This improves accuracy of reporting.
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FY 2025 designated as SBTi baseline year Hikal will designate FY 2025 as the baseline year for monitoring progress against emissions reduction targets under SBTi framework.
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ISO 45001:2018 across all 5 manufacturing facilities All five manufacturing facilities certified under ISO 45001:2018 OH&S Management System; R&T Pune undergoing certification. Other certifications include ISO 9001, ISO 14001, ISO 50001, and Responsible Care.
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Zero Liquid Discharge at 3 of 5 manufacturing sites + R&T Pune Implemented 100% ZLD at three of five manufacturing facilities, with new ZLD system commissioned at R&T Pune in FY 2024-25.
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UN Global Compact signatory Hikal is committed to the ten principles of the United Nations Global Compact (UNGC).
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Biodiversity restoration around Bannerghatta National Park Hikal Jigani Unit (near Bannerghatta National Park) undertook lake restoration (Konasandra and Yallammanadoddi lakes), and developed a Miyawaki forest with 4,000 trees, 1,000 shrubs and 350 bamboo grasses near Harapanahalli Temple in May 2024.
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SEBI settlement of INR 4.4 million for LODR disclosure issue Settlement of INR 43,97,250 paid to SEBI for alleged non-disclosure/inadequate disclosure of material information under SEBI (LODR) Regulations, 2015. No appeal preferred.
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Primary: Fuel switching: natural gas/fuel oil → briquette-generated steam Scope 1 emissions intensity declined due to transition from natural gas and fuel oil to purchased briquette-generated steam. Cogeneration turbine installed at Taloja briquette-fed boiler to generate in-house clean electricity. Improved boiler steam-to-fuel ratio saved 697 MT of fuel and 292.39 MT of furnace oil at Jigani 1.
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Primary: Energy efficiency upgrades and process optimisation Replaced pumps with high-efficiency units, retrofitted CFL to LED in flameproof areas, optimised transformer voltage from 415V to 405V, automated streetlighting, installed motion sensors and flash steam recovery systems. Annual operational savings of INR 27.8 million.
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