Glenmark Life Sciences

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.

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.

As part of Carbon Neutrality CSR project, company has planted 45,800 trees of local species using Miyawaki and traditional methods, resulting in expected absorption of 68,700 tonnes of carbon over their lifespan. Additional 35,000 trees planted in FY24 alone with 52,500 tonnes CO2 lifetime sequestration expected. No durable removals (DAC/BECCS) disclosed; reliance is on nature-based afforestation.

• Renewable electricity via hybrid PPA at Ankleshwar

  Started 1 MW hybrid (solar+wind) power at Ankleshwar facility, increasing green energy contribution to 20.9% of plant power. Plan to expand renewable share across all four manufacturing sites.

• 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.

• Solvent recovery and green chemistry in R&D

  34% of solvents are recovered/recycled in manufacturing (FY24, vs 31% in FY23). R&D efforts focused on lower energy consumption alternatives, reducing effluents (50% reduction achieved in FY24 through lifecycle management), introducing safer technologies for early-stage intermediates and optimising challenging batch processes through process intensification and flow chemistry (CSTR, Fixed bed reactor).

• Manufacturing energy efficiency & equipment upgrades

  Energy conservation projects in FY24 include replacement of reciprocating brine compressors (2×19 TR) with energy-efficient screw-type brine compressor (43 TR), AHU chilled water plant temperature optimization, breathing air compressor pressure reduction, LED lighting replacement and automation via timer circuits. These yielded 5.89 lakh kWh savings and INR 48 lakh per annum. Specific steam consumption decreased from 260kg/kg (FY23) to 183.3kg/kg (FY24) and specific power consumption from 121 kWh/kg to 105.29 kWh/kg.

• Water stewardship and Zero Liquid Discharge

  All 4 facilities have zero liquid discharge capability with comprehensive Effluent Treatment Plants (primary, secondary, tertiary) followed by RO. High COD streams processed via stripper and Multiple Effect Evaporator. Specific water consumption reduced 42.59% to 0.31 KL/kg. 93,445 KL water recycled and reused (up 1.95%). Drip irrigation saved 20 KL/month; RO reject recycling saved 2,772 KL.

• Green chemistry and process intensification in R&D

  R&D investments target lower energy consumption alternatives, reduction in effluent generation and lower solvent usage. Achieved ~50% effluent reduction in FY24 via lifecycle management on identified products. 24% of CAPEX R&D spend (36% in FY23) directed to sustainable process improvements. New technologies being developed include CSTR, fixed bed reactor for catalytic reactions, continuous flow chemistry, asymmetric hydrogenation and enzymatic transformation.

• Solvent recovery and reuse

  In-house solvent recovery plants enhance operational efficiency. In FY24, 34% of solvent input came from recovered solvent (vs 31% in FY23); 66% fresh solvent. Solvents are recovered and reused in processes, with partial quantities sent to authorised recyclers.

• 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.

• 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.

• Local supplier development and de-risking from imports

  Cultivated a robust network of ancillary suppliers for key molecules to reduce reliance on non-Indian sources. Collaborating with local manufacturers providing volumes and technological support to develop new products, contributing to development of domestic manufacturing capabilities.

• Supply chain backward integration and local vendor development

  Optimising vendor mix to reduce import dependence and exposure to international supply chain disruptions. Cultivated a robust network of ancillary suppliers for key molecules. Implementing backward integration for select Key Starting Materials (KSMs) — 200 KL API + 400 KL backward integration capacity coming up at Solapur. Collaborating with local manufacturers with volumes and technological support to develop new products.