28,2024 Department of Corporate Limited Phiroje Jeejeebhoy Street - 400

@
DNL/ 1 38 / BSE / 1 048 / 2024

November 28,2024
Department of Corporate Services

BSELimited
Phiroje Jeejeebhoy Towers
Datat Street
MUMBAT - 400 001
Dear Sir,
Scrip Code: 506401
Re: Sustainability Report 2023-24
We are pleased to enclose herewith a copy of the Company's maiden Sustainabitity

Report for the financial year 2023-24.
This is for your Information and record.
Thanking you,
Yours faithfutty
For DEEPAK NITRITE LIMITED
Digitally signed by ARVIND BAJPAI
ARVIND
DN: c=IN, o=PERSONAL,
pseudonym=afe43d4241054ba5b503
abf0556262e2,
2.5.4.20=5e34681fafc76356233a634ce
f0f7ba42dd21ef97a5ea1029daca377c
BAJPAI
1a933fb, postalCode=390021,
st=GUJARAT,
serialNumber=8d20c67bf107cbb39d5
89f957e1972f3769c5a4d3bc7f3d908f5
5d36402df9bb, cn=ARVIND BAJPAI
Date: 2024.11.28 19:34:14 +05'30'
Encl.: as above
DEEPAK NITRITE LIMITED

CIN: 124110GJ1970P1C001735
Registered & Corporate Office:
2"0 Floor, Fermenter House, Atembic City, Atembic Avenue Road, Vadodara - 390 003, Gujarat, India.
reli +9L 265 27 6 5200 I 27 6 5500
Investor Relations Contact: irrvestor'61 godeepak.com
vuvuvu.gudeupah.uur rr
Corporate Our Sustainability Corporate Business Environment People and
Overview Strategy Governance Sustainability Responsibility Social Strategy Appendix
RESPONSIBLE
GROWTH
TRANSFORMING
CHALLENGES INTO
OPPORTUNITIES

1st SUSTAINABILITY REPORT
2 0 2 3 -2 4
CONTENTS
04 Corporate Overview
30 Our Sustainability Strategy
04 About the Report 31 Stakeholder Identification and Engagement

06 About the Company 36 Double Materiality Assessment
08 Product Portfolio 40 Material Issues and Relevant SDGs
10 Industry Collaborations and Memberships 44 Key ESG Risks and Opportunities
11 Vision and Core Values
12 Awards and Accolades
14 Key Highlights for FY 2023-24
16 Message from the Chairman and

Managing Director
52 Corporate Governance
53 Board Structure – Deepak Nitrite Limited
18 Message from the Executive Director and 55 Board Structure – Deepak Phenolics
CEO, Deepak Nitrite Limited Limited
20 Message from the Director (Finance) & 56 Board Diversity and Composition
Group CFO, Deepak Nitrite Limited
57 Board Performance Evaluation
22 Message from the Executive Director,
Deepak Nitrite Limited 58 Board Remuneration and Annual Total
Compensation Ratio
24 Message from the Executive Director &
CEO, Deepak Phenolics Limited 58 ESG Governance
26 Message from the Executive Director, 60 Conflict of Interest
Deepak Phenolics Limited
60 Board Committees
28 Message from Chief Manufacturing Officer,
Deepak Nitrite Limited 62 Business Ethics and Compliance
66 Business Sustainability
92 People and Social Strategy
67 Product Stewardship 93 Diversity, Equity and Inclusion
67 Product Innovation 97 Employee Engagement
69 Growth and Profitability 104 Occupational Health and Safety
70 Business Continuity 114 Human Rights
72 Digitalisation and Cybersecurity 115 Community Involvement
74 Sustainable Supply Chain 117 Customer Relationship
76 Environmental Responsibility 118 Appendix I
118 ESG Performance Tables

77 Water Use and Effluent Management
82 Waste Management
85
88
Climate Change and Emissions
Energy Management
130 Appendix II
130 GRI Content Index
91 Biodiversity 135 SASB Content Index
136 Appendix III
136 Independent Assurance Statement

Corporate Overview
About the Report
The scope and boundary of this Standards and Topic Standards
Report differs from the Annual specified in the GRI Standards.
Report of Deepak Nitrite Limited In addition to aligning our
('DNL' or 'the Company') for FY report with GRI Standards, we
2023-24. This Report covers have also mapped disclosures
the operations of Deepak Nitrite with Chemicals Sustainability
Limited and its wholly owned Accounting Standards (SASB
subsidiary, Deepak Phenolics Sector Specific Standards).
Limited (collectively referred to Our approach aligns with the
as 'Deepak'), unless otherwise disclosure requirements of
specified. these frameworks. Deepak
ensured a consistent method
Our sustainability reporting for consolidating data across
encompasses a holistic approach all disclosures within the
that integrates economic, Sustainability Report. This involved
environmental and social aggregating values from all
indicators into our operational plants within the Report’s scope
framework. It outlines Deepak's and boundary. A materiality
strategic initiatives aimed at assessment was performed
advancing sustainability goals. to identify key sustainability
This includes a focus on resource topics relevant to Deepak. Our
efficiency, where efforts are consolidation principles are
directed towards minimising consistently applied to maintain
waste, optimising energy use and uniformity in reporting both
adopting technologies that reduce financial and non-financial
environmental footprint. information.
We have reported the information We have adopted a thorough

outlined in this Report for the approach in consolidating
period from April 1, 2023, to March information and have considered
31, 2024, with reference to the appropriate adjustments for
GRI Standards. The Report has minority interests wherever found
been prepared considering the relevant.
Reporting Principles, Universal
4 1ST SUSTAINABILITY REPORT 2023-24

External Assurance
This Sustainability Report is
externally assured by TÜV
SÜD, an independent third-
party assurance provider. This
assurance was conducted in
accordance with the ISAE 3000
(International Standard on
Assurance Engagements) criteria,
which is a widely accepted
standard for providing assurance
on non-financial information.
The limited assurance provided
by TÜV SÜD covers non-financial
indicators and select qualitative
information disclosed in this
Report. The scope and findings
of the assurance are detailed in
the assurance statement issued
by TÜV SÜD, as annexed to this
Report.
Forward-Looking
Statements
This report includes forward-
looking statements regarding
anticipated future events
that could impact Deepak's
operations. These statements
inherently involve assumptions
and are subject to inherent
risks and uncertainties. Caution
is advised when interpreting
these assumptions, predictions
and statements, as they may
not accurately reflect future
outcomes. Actual results and
events may differ significantly
from those anticipated in the
forward-looking statements.
Deepak is under no obligation
to update these statements
to reflect changes in events
or circumstances after the
publication of this Report.
1ST SUSTAINABILITY REPORT 2023-24 5
About the Company
Deepak Nitrite Limited (referred to as ‘DNL’ or ‘the Company’) is a leading manufacturer of speciality chemicals,
including intermediates and advanced chemicals that serve a wide range of industries. Our product portfolio
includes Nitrites, Nitro Toluidines, Fuel Additives, Nitrosyl Sulphuric Acid, Xylidines, Oximes, Cumidines, Speciality
Agrochemicals, Optical Brightening Agents, DASDA. Headquartered in Vadodara, Gujarat, DNL is having its
manufacturing facilities located at Nandesari and Dahej in the State of Gujarat, Roha and Taloja, in the State
of Maharashtra and Hyderabad, in the State of Telangana. The Company's wholly owned subsidiary, Deepak
Phenolics Limited (referred to as 'DPL') also headquartered in Vadodara, Gujarat and having manufacturing
facility at Dahej, Gujarat produces Cumene, Phenol, Acetone, Isopropyl Alcohol, Alpha Methyl Styrene.

As a partner of choice for both maintaining the highest quality large product portfolio of value-
domestic and global chemical standards in our products. added intermediates and export
majors, Deepak stands out as one to over 45 countries across six
of India’s fastest-growing chemical Our portfolio includes over 34 continents, balancing our import-
intermediates companies, premium products, serving more export Revenues. Our Phenol-
committed to Responsible than 56 applications across various Acetone project further diversifies
Chemistry. We lead the industry industries. We have established our offerings, catering to more
in manufacturing advanced a market presence that engages than 10 end-use segments directly
intermediates and phenolic over 1,500 customers in 45+ linked to India’s GDP growth.
chemicals, serving a wide range of countries. Our distribution network
sectors including pharmaceuticals, consists of eight manufacturing Aligning with the Government’s
personal care, textile, defence, facilities located at five strategic ‘Make in India’ mission, our
paint, laminates, plywood, auto locations, supporting efficient manufacturing capabilities ensure
ancillaries etc. Our relentless operations and sustainable growth. that we remain at the forefront
pursuit of excellence drives us of the chemical manufacturing
to innovate continuously while To mitigate risks, we maintain a industry, both in India and globally.
Our Plant Locations
Nandesari
Nitrite and Nitroaromatics Division –

Nandesari, Vadodara, Gujarat
Taloja Chemicals Division –
Taloja, Raigad, Maharashtra
Roha Division –
Roha, Raigad, Maharashtra
Hyderabad Specialities Division –
Hyderabad, Telangana
Dahej Division –
Dahej, Bharuch, Gujarat
Deepak Phenolics Limited –
Dahej Taloja Roha Hyderabad Dahej, Bharuch, Gujarat
Product Portfolio
DNL is a leading producer of organic, inorganic and fine chemicals, providing customised solutions to meet
diverse industry needs. Our extensive product range and market leadership make us a key player in the
chemical industry.
Market Leadership
We are the market leader in India for organic intermediates, specifically Nitro Toluidines, Xylidines,
Cumidines and Oximes.
Our diverse product portfolio and strategic capabilities enable us to serve a wide range of industries effectively,
upholding our commitment to innovation, sustainability and excellence in chemical manufacturing.
Advanced Intermediates Phenolics
Products Products
• Nitrites • Oximes
• Cumene • Alpha Methyl
• Nitro Toluidines • Cumidines Styrene (AMS)
• Phenol
• Fuel Additives • Speciality Agrochemicals • Isopropyl Alcohol
• Acetone
• Nitrosyl • Optical Brightening
Sulphuric Acid Agents (OBA)
• Xylidines • DASDA
Industrial Application Industrial Application
• Colourants • Personal Care • Sanitisers • Laminate and Plywood
• Dyes • Water Treatment • Rubber • Automotive
• Rubber • Glass Industries • Chemicals • Construction
• Paper • Textiles • Paints • Pharmaceuticals
• Agrochemicals • Industrial Explosives • Adhesives
• Pharmaceuticals • Fuel Additives
Deepak operates with a diverse and dynamic product portfolio, segmented into Advanced Intermediates and
Phenolics, which serve a broad array of industries, including pharmaceuticals, agrochemicals, plastics, textiles, laminates,
automative etc. This diversification ensures resilience against sector-specific challenges and reduces the risk of product
obsolescence.
The Advanced Intermediates cater to high-growth sectors like dyes, pigments, agrochemicals and pharmaceuticals,
while Phenolics segment remains a key contributor to both domestic and international markets, supplying to industries
such as laminates & plywood, automative, construction and pharmaceuticals. Deepak's focus on strategic relationships
has bolstered the reliability of its supply chain, optimising production and maintaining high capacity utilisation at its
facilities.
Operational Resilience
Deepak's focus on operational At Deepak, our Laboratory enabling us to achieve higher
excellence has resulted in Information Management levels of productivity and
sustained performance, even System (LIMS) plays a vital efficiency. By integrating LIMS, we
during volatile demand cycles. role in streamlining laboratory streamline operations, minimise
Despite scheduled maintenance workflows, improving data manual errors and maintain the
and other challenges, the Phenol accuracy, ensuring compliance consistent delivery of superior-
plant has consistently operated at and enhancing operational quality products to our customers.
high capacity, demonstrating its efficiency. This innovative solution
ability to manage both output and transforms laboratory processes,
efficiency. data handling and collaboration,
Future Growth
Looking ahead, Deepak's diversification, is expected to This strategic alignment between
strategy is centered around contribute to the sustained product innovation, operational
further integration and capacity profitability and market leadership. efficiency and sustainability
expansion, underpinned by By expanding its expertise and positions Deepak as a leader in
securing raw material supplies product offerings, Deepak is the chemical industry, prepared
and investments in cutting- well-positioned to capitalise to address future challenges and
edge processes. The anticipated on evolving industry trends seize opportunities for growth.
cyclical recovery in product and maintain its competitive
prices, combined with Deepak's advantage in both domestic and
continued focus on product international markets.

Industry Collaborations and Memberships

Founder Together for The Indian Confederation Federation Gujarat
member of Sustainability Federation Chemical of Indian of Gujarat Employees
the Indian of Indian Council Industry Industries Organisation
Chemical Chambers of
Council’s Commerce
Nicer Globe and Industry

Vision and Core Values

VISION
To become the FASTEST GROWING Indian chemical intermediates Company.
Like a tree with strong roots, Deepak has and is growing taller with fresh branches
and new off-shoots to fulfill its growth aspirations. Our brand identity and corporate
architecture, coupled with vision and way forward has set the right tone for the next phase
of our growth, expansion and profitability.
VALUES
At the heart of our brand essence is the balance between ‘stability’ and ‘agility’. We aim to
maximise growth by leveraging our heritage and ensuring consistent performance, while
also driving our expansion through the agility and dynamism needed to adapt to new
markets.
Innovativeness
Disruptive ideas and innovation.
Driving not just product ideas but
also innovation in terms of processes
and employee engagement. Thus,
maximising growth.
Ownership Agility
Everyone is a leader. Everyone Change is constant. To
is team member. Everyone respond to change and
takes equal responsibility for deliver results rapidly. This
the Company's growth. Where equips the organisation
the vision becomes not just to respond rapidly to this
the Company goal but the dynamic world.
individual goal as well.
Performance Driven Responsiveness

Deep category insights for We don’t just respond. We give
opportunity spotting and delivering solutions and we take responsibility.
solutions. Rewarding performers Towards, employees, customers and
across verticals, thereby setting all other stakeholders.
examples for leadership.

Awards and Accolades
Deepak Nitrite Limited received a Certificate of Recognition as

one of India’s 500 Most Valuable Companies at Burgundy Hurun India 500
Sustainable
Organisation 2023
Award received for
adopting Valuable
Sustainable
Initiatives by the
Economics Times
DPL awarded with Responsible Care logo for three

years, recognizing its focus on safety, sustainability
and responsible chemical management
Three awards for Health & Safety Excellence, Waste

Reduction and Green Innovation in large enterprise
category at National ESG Summit

Corporate Our Sustainability Corporate Business Environmental People and
NSC Gold Award:

We earned seven Gold Awards
DNL Hyderabad wins for safety case studies at the
Gold Award at the 16th EXCEED National Safety Convention
Green Future Environment
Awards 2024 for Water
Management
SRF Award
SRF Limited honored Deepak
Nitrite Limited with an award
for exceptional support and
Deepak Nitrite Limited (Taloja)
meeting supply commitments
and Deepak Phenolics teams
won Gold Awards at the ICQCC
Conference in Thailand
Two teams secured Excellence

Awards at the National
Convention on Quality Concepts
(NCQC)
Deepak Phenolics Team received

the Gold Award at the Quality
Circle Forum of India (QCFI)
Vadodara Chapter

Key Highlights for

FY 2023-24
ISO9001 B
2023 CDP Climate
Certified
9001:2015 Change Score
of DNL
ISO14001 Responsible Care® 47

Certified OUR COMMITMENT TO SUSTAINABILITY
2023 DJSI Score
14001 of DNL
ISO45001
Certified
45001

` 7,682 Crores ` 27.87 Crores ZERO

Revenues Total CSR spent instances of breach
of cyber security
50,000+ 12.49% 4,36,526 KL

Trees Planted Reduction in absolute Water recycled
creating green belt Scope 1, Scope 2 and
Scope 3 Emissions
` 22.61 Crores 1,80,299 kWh 1,09,494 MT

Investment in Total Energy Savings Total Waste Recycled
Environmental and Co-processed
Conservation Initiatives
89% 625 tCO2e 12%

Waste Reused and Emission Reduction due Power Savings
Recycled to APC Implementation
100 64,777 ZERO

R&D Professionals Training Cases of Fatalities
Employed Manhours
ZERO 0.20 100%

Cases of Discrimination, Lost Time Injury Security Personnel
Sexual Harassment and Frequency Rate Trained in Human
Human Rights Violation (LTIFR) Rights
1,500+ 5,241
Customers Worldwide Total Workforce

Message from the

Chairman and Managing Director
Dear Stakeholders, commitment to sustainable growth investing in both forward and
It is with great pride that I present and innovation. backward integration projects.
to you the inaugural Sustainability These projects are designed to
Report of Deepak Nitrite Limited. FY We achieved key milestones, enhance our product value chains
2023-24 has been a transformative including signing Memorandums and improve our resilience. By
period for us, marked by significant of Understanding (MoUs) with developing cutting-edge facilities,
milestones and strategic the Government of Gujarat and a introducing new products and
advancements that underscore our binding Term Sheet with Petronet optimising processes, we are laying
LNG. Our entry into fluorination the groundwork for sustained
has opened new avenues for growth. Our vision extends to
growth. These developments have a cradle-to-cradle approach in
positioned us as a leader in India's the chemical industry, where we
rapidly evolving chemical industry. prioritise minimising waste and
This partnership with Petronet LNG designing products for full life
will enable us to shift over 1,000 cycles. In this growth process, we
kilometres of road transportation are ensuring that sustainability is
to more sustainable pipeline never compromised and each of our
infrastructure, significantly reducing projects is developed taking utmost
the environmental impact of inter- care of ESG principles. All projects
country imports. are designed considering the most
energy-efficient technologies
To strengthen our presence in ensuring minimum carbon footprint
the market, we are strategically and developing value-added
products from the waste streams.
We do realise that water is fast
becoming a scarce resource and
hence all our existing and future
plants are being designed using
3R principles (Reduce, Reuse and
Recycle).
Deepak C. Mehta
Chairman and Managing Director

At Deepak, we believe that ethics, Looking ahead, Deepak is set to

aesthetics and economics can
coexist, guiding our path toward
increase investments in renewable
responsible industry leadership. For energy to further our journey toward
FY 2023-24, our annual emission
reduction amounted to 12.49%.
carbon neutrality. Our emphasis on
We also increased the use of waste-to-value initiatives, including
renewable energy sources within the extraction of valuable by-products
operations to reduce reliance
on fossil fuels. Additionally, we like acetophenone and iron, is part
implemented advanced processes of our strategy to maximise resource
like photohalogenation and Halex
fluorination to improve efficiency
utilisation. By integrating advanced
and reduce emissions. Our ongoing complexes within our operations, we
projects in Phenol-Acetone
capacity expansion, along with
aim to optimise energy use across
the establishment of India’s first the value chain, reinforcing our drive
Polycarbonate resin plant, are steps toward minimal energy consumption
toward ensuring that we remain at
the forefront of the industry. and reduced environmental impact.
We are pursuing strategies to
integrate backward, starting steps are critical as we move sustainability vision, seeking
from basic building blocks and forward, not just in economic innovations that not only improve
forward, by moving closer to growth but in leading the industry efficiency but also advance our
selling performance products. This toward more sustainable practices. environmental goals. By adopting
approach is not only expected to sustainable practices and future-
improve profit margins but also Looking ahead, Deepak is set proofing our processes, Deepak
to make our product value chains to increase investments in Group is well-positioned to lead
more resilient. Through our ongoing renewable energy to further our in the chemical industry’s shift
capital expenditure programmes, journey toward carbon neutrality. towards greener operations.
we are creating leadership in Our emphasis on waste-to- We remain focused on setting
nitration by backward integrating value initiatives, including the a high standard in sustainable
to produce our own Nitric Acid and extraction of valuable by-products manufacturing, driving impactful
Benzo-Tri-Fluoride. These steps like acetophenone and iron, is change that benefits both our
will add sustainable resilience to part of our strategy to maximise business and the environment.
our operations and reduce carbon resource utilisation. By integrating
emissions in the hard-to-address advanced complexes within our Together, we will continue to build a
Scope 3 bucket. operations, we aim to optimise brighter, more sustainable future for
energy use across the value chain, Deepak.
Moreover, we are optimising our reinforcing our drive toward minimal
processes to make use of by- energy consumption and reduced Best Regards,
product hydrogen rather than using environmental impact. Deepak C. Mehta
hydrogen on purpose, aligning with Chairman and Managing Director
our goal of achieving the lowest We are also exploring new
energy and carbon footprint. These technologies that align with our

Message from the

Executive Director and CEO,
Deepak Nitrite Limited
Dear Stakeholders,
As we embark on the journey As basic and intermediate chemical

of presenting Deepak
Nitrite Limited’s ('DNL') first manufacturers, we are keenly aware
Sustainability Report, I am both that our carbon and water reduction
honoured and excited to share
our vision and achievements in
efforts benefit not just DNL but all our
the realm of enduring progress. customers and the chemical industry at
At DNL, our commitment to
large. This dual responsibility humbles
sustainable development is
not just a concept but a core us and reinforces our drive.
principle that drives our business
strategies and decision-making
processes. Over the years, DNL
has navigated numerous industry
challenges with resilience,
maintaining a steady focus on
enhancing our performance
and delivering value to our
stakeholders.
Maulik Mehta
Executive Director and CEO

Advancing Sustainability and inclusive workplace. Our made is a non-negotiable

As basic and intermediate social initiatives, which focus compact with the future we
chemical manufacturers, we on education, healthcare and envision. The Committee reviews
are keenly aware that our community empowerment, Climate and ESG disclosures,
carbon and water reduction further highlight our role as a monitors best practices and
efforts benefit not just DNL conscientious corporate citizen. provides strategic guidance
but all our customers and the By aligning our actions with to the management. This
chemical industry at large. This ethical principles and pursuing structured approach ensures
dual responsibility humbles us continuous improvement, we focused attention, aligning
and reinforces our drive. Our aim to create lasting value and with our long-term vision of
dedication to ethical practices cultivate a culture of excellence. promoting environmental and
has been recognised through social responsibility while driving
notable awards, including the Establishment of Sustainability business excellence.
‘Sustainable Organisation 2023 Committee
award’ from Economic Times for In line with our commitment, Our Path Forward
adopting valuable sustainable DNL established dedicated As we move forward, DNL is
initiatives. Sustainability Committee positioned to thrive in the
demonstrating our continuous evolving chemical industry
In line with industry best efforts to improve energy and set new benchmarks.
practices, we have integrated conservation, optimise resource Our vision extends beyond
automation and stringent use and promote stakeholder immediate growth to a future
plant safety standards into our welfare, seamlessly integrating where innovation, responsibility
operations to ensure a secure these elements into our core and adaptability are the pillars
work environment and reduce the operations. The Committee, of our success. By embedding
potential for errors. This approach composed of experienced sustainability into every facet
underscores our commitment to members in Environment, of our operations and decision-
quality and efficiency, earning the Social and Governance (ESG), making, we are preparing for a
trust of our global clients. is supported by the Company future challenge and shaping
Secretary. As a company that a future that delivers enduring
Our dedication to excellence is prides itself on responsible value to our stakeholders, society
evident in every aspect of our chemistry, enforcing a strategy and the environment. This is
operations, from adopting green which allows us to reduce carbon the path we are committed to,
practices to creating a diverse and water per kg of new product a journey where our purpose is
driven by sustainable innovation,
progress fuels our journey and
excellence defines our legacy.
As a company that prides itself on
responsible chemistry, enforcing a Best Regards,
Maulik Mehta
strategy which allows us to reduce Executive Director and CEO
carbon and water per kg of new Deepak Nitrite Limited
product made is a non-negotiable
compact with the future we
envision.

Message from the

Director (Finance) and Group CFO,
Dear Stakeholders, In line with our commitment to

responsible growth, we have
As the Group Chief Financial
Officer, I am pleased to share strategically invested ₹ 22.61 Crores in
our financial and sustainability environmental conservation initiatives.
achievements for FY 2023-24. At
Deepak, we believe that financial These investments have allowed us to
resilience and sustainability go enhance our resource efficiency, reduce
hand-in-hand, creating long-term
value for all stakeholders. This
carbon emissions and improve waste
fiscal year, we continued to deliver management practices, reinforcing our
strong financial performance while
leadership in sustainable operations
within the chemical industry.
Sanjay Upadhyay
Director (Finance) and Group CFO

At Deepak, we remain dedicated in balancing financial

performance with sustainable development. Our continued
focus on innovation, digitalisation and sustainability is key to
driving profitable growth while minimising our environmental
footprint. In the coming years, we look forward to building
on these achievements, creating enduring value for our
stakeholders and contributing positively to the environment
and society.
making significant strides in Notably, we achieved a 12.49% At Deepak, we remain

embedding sustainability across reduction in absolute Scope 1, dedicated in balancing
our operations. 2 and 3 emissions of Deepak financial performance with
contributing to our broader sustainable development. Our
Our Revenues for FY 2023- sustanability aspirations. continued focus on innovation,
24 reached ₹ 7,682 Crores, digitalisation and sustainability
underpinned by strategic In line with our commitment to is key for driving profitable
investments and operational responsible growth, we have growth while minimising our
excellence. Importantly, strategically invested environmental footprint. In the
this financial success was ₹ 22.61 Crores in environmental coming years, we look forward
achieved alongside a continued conservation initiatives. These to build on these achievements,
commitment to reduce our investments have allowed us to create enduring value for our
environmental impact. By enhance our resource efficiency, stakeholders and contribute
implementing initiatives for reduce carbon emissions and positively to the environment
enhanced energy efficiency, improve waste management and society.
water conservation and waste practices, reinforcing our
reduction, we have not only leadership in sustainable Best regards,
improved our operational operations within the chemical Sanjay Upadhyay
efficiencies but also supported industry. Director (Finance) and Group CFO
our sustainability goals. Deepak Nitrite Limited

Message from the

Executive Director,
Dear Stakeholders, Evolving Sustainability scrutiny and stakeholder

Landscape in India’s Chemical expectations. This aligns
As we navigate the evolving Sector with global trends towards
sustainability landscape in India, The Indian chemical industry, decarbonisation, resource
particularly in the chemical sector, traditionally seen as a heavy efficiency and circularity. National
it is clear that the path forward energy and water consumer and initiatives such as the "Net Zero"
requires not just adaptation but contributor to GHG emissions, commitments and enhanced
proactive leadership. The Indian is facing increased regulatory environmental regulations have
chemical industry, a cornerstone
of industrial growth, finds itself
at a critical juncture. This is
largely due to rising concerns
surrounding environmental
impacts, particularly in areas
such as greenhouse gas (GHG)
emissions, water consumption
and waste management. Deepak
Nitrite Limited ('DNL') recognises
these dynamics and is committed
to play a transformative role in
this shift towards sustainability.
Girish Satarkar
Executive Director

reinforced the need for Indian

companies to embrace a holistic
approach to sustainability.
We are also committed to reduce
hazardous waste and improve disposal
More than ever, stakeholders—
methods through better technological
including investors, customers
and regulatory bodies—are interventions. The integration of
demanding greater transparency resource-efficient practices helps us
and action in ESG (Environmental,
Social and Governance) to lower operating costs, mitigate risks
matters. At DNL, we see these and generate new revenue streams.
demands not as obstacles but
as opportunities to reinvent and
create long-term value for our
stakeholders. of rainwater. These initiatives We are also committed to reduce
not only reduce our freshwater hazardous waste and improve
Our Strategic Focus Areas dependency but also minimise our disposal methods through better
Energy Efficiency and GHG impact on local water resources. technological interventions. The
Emissions Management In addition, we are focused integration of resource-efficient
Energy efficiency and the on wastewater treatment and practices helps us to lower
reduction of GHG emissions are recycling, aiming to achieve operating costs, mitigate risks and
at the core of DNL’s sustainability near-zero liquid discharge in generate new revenue streams.
strategy. We have embarked on some of our key facilities. This
a series of initiatives aimed at aligns with our broader goal of I want to extend my gratitude
optimising energy consumption contributing positively to local to all my colleagues in DNL
across our manufacturing water ecosystems and ensuring and relevant stakeholders for
facilities, which include long-term water security for both their continued support in our
investments in renewable energy our operations and surrounding sustainability journey. We are
sources such as solar and wind communities. excited about the future and
power. We are actively exploring remain focused on delivering
innovative solutions in operations Circular Economy and Waste positive impacts for the
to further reduce environmental Management environment, society and our
impact. DNL is committed to adopt business. Together, we can shape
circular economy principles by a more resilient and sustainable
Water Stewardship and minimising waste generation and tomorrow.
Conservation enhancing resource efficiency.
Water is a critical resource Our zero-waste-to-landfill Best Regards,
for our operations and we approach has driven us to invest Girish Satarkar
recognise its scarcity as both in innovative waste recycling and Executive Director
a risk and an opportunity. DNL co-processing technologies. By Deepak Nitrite Limited
has developed a comprehensive reusing industrial by-products,
water management strategy that we not only reduce waste but
emphasises the reduction of water also create secondary products
consumption, increased water that contribute to the circular
recycling and the harvesting economy.

Message from the

Dear Stakeholders, The chemical industry in India,

As the chemical industry including our own, is undergoing
navigates an era defined by rapid shifts driven by changing
new environmental control
and sustenance measures,
regulatory requirements,
sustainability has become a crucial market expectations and global
lens through which businesses
sustainability trends.
evaluate their current practices
and future goals. Deepak Phenolics
Limited (‘DPL’) stands at the
forefront of this transformation,
especially in the production of
Phenol, Acetone and Isopropyl
Alcohol (IPA)—chemicals that
are vital raw materials to a wide
variety of downstream industries
such as pharma, plywood,
laminate, pesticides, automotive
ancillaries, etc.
The chemical industry in India,

including our own, is undergoing
rapid shifts driven by changing
regulatory requirements,
market expectations and global
Kishor Jhalaria

sustainability trends. Historically continuous improvement efforts Sustainability cannot be achieved

associated with high energy are directed at reducing Scope without innovation and DPL is at
consumption and emissions, 1 and Scope 2 emissions. These the cutting edge of sustainable
the industry is now under efforts ensure that we contribute technological advancements. We
increased scrutiny. Governments, positively to India’s overall energy continue to invest in intellectual
customers and investors alike transition while simultaneously capital to identify cleaner
are pushing for more responsible enhancing operational production processes. Our focus
production processes that reduce performance. on green chemistry principles
environmental impact. allows us to optimise raw material
In a resource-scarce world, water usage, minimise emissions and
At DPL, we have set the stage for conservation is at the forefront reduce hazardous by-products.
reducing our carbon footprint by of our sustainability strategy. Our
optimising energy use across all manufacturing processes require Looking ahead, DPL is committed
our facilities. Given that Phenol substantial water usage, which to scale its sustainability efforts
and Acetone production are poses both a challenge and an and leading the way in responsible
inherently energy-intensive, opportunity for improvement. chemical production. We recognise
we have adopted advanced We have implemented several that the future of the chemical
technologies that allow us to measures to reduce water usage, industry lies in our ability to
minimise energy consumption including water recycling and innovate, reduce environmental
without compromising product the deployment of technologies impacts and create value for all
quality. This includes fully digitised to minimise process water stakeholders. The road ahead will
manufacturing, optimised supply requirements. require us to continue our focus
chain and implementation of on energy efficiency, resource
energy-efficient schemes. We Our state-of-the-art wastewater conservation and circularity. We
are also investing in process treatment systems ensure that we are confident that our strong
intensification techniques that not significantly lower water discharge governance, innovative mindset
only reduce energy consumption volumes and improve water quality and stakeholder-first approach
but also decrease the overall before reuse or discharge. By will help us achieve our long-term
environmental footprint of our adopting these practices, DPL sustainability goals.
chemical production processes. not only safeguards freshwater
Together with a gradual transition resources but also contributes As we progress, we encourage
towards renewable energy to the local communities by our stakeholders to partner with
sources like solar power and use ensuring minimal impact on water us on this journey toward a more
of renewable sources such as agri ecosystems. sustainable and resilient future
and plant-based bio-fuels, our for DPL and the wider chemical
industry in India. By working
together, we have the opportunity
to redefine the future of chemicals
Sustainability cannot be achieved by integrating sustainability into
without innovation and DPL is at every aspect of our operations and
decision-making.
the cutting edge of sustainable
technological advancements. We Best Regards,
Kishor Jhalaria
continue to invest in intellectual Executive Director and CEO
capital to identify cleaner production Deepak Phenolics Limited
processes.

Message from the

Executive Director,
Dear Stakeholders, Our commitment to sustainability

Over the past year, Deepak
extends beyond our operations. We are
Phenolics Limited ('DPL') dedicated to making a positive impact
has demonstrated resilience
and innovation, navigating
on the communities where we operate,
challenges with a relentless through our CSR initiatives focused
focus on operational efficiency, on education, healthcare and the
technological advancement
and strategic expansion. Our empowerment of marginalized groups.
performance reflects not only
our ability to adapt but also our
dedication to ensure progressive
sustainable practices across our
operations.
Navigating Industry Dynamics

The chemical industry in India is
at a pivotal juncture, experiencing
exponential growth driven
by favourable demographics,
evolving consumer aspirations
and rapid infrastructure
development. The global shift
Meghav Mehta
Executive Director

towards the China+1 strategy Our pursuit of alternative energy aligning our efforts with global
and rising geopolitical risks sources is equally rigorous. We standards and emerging trends.
have further positioned India have increased the use of biomass
as a reliable supplier for the in our boilers from 30 tons per day Our commitment to sustainability
global chemical industry. DPL to 100 tons per day and initiated extends beyond our operations.
stands at the forefront of this the use of ETP sludge biomass, We are dedicated to make
transformation, leveraging our significantly reducing our reliance a positive impact on the
operational capabilities and on conventional fuels. These communities where we operate,
strategic foresight to capture initiatives are complemented by through our CSR initiatives
emerging opportunities. capital investments in energy focused on education, healthcare
conservation equipment, such and the empowerment of women.
Our journey has been one of as the installation of a conveying We believe that our success is
continuous improvement. We system that allows us to utilize intertwined with the well-being
have significantly enhanced higher quantities of biomass in our of our stakeholders and we are
our operational efficiency and operations. committed to creating value
are strategically venturing into for all.
the downstream, value-added Technological innovation remains
derivatives of Phenol and Acetone a key driver of our sustainability Looking Ahead
at Group level. This expansion is journey. The implementation of As I prepare for transition from
not just about growth; it is about Advanced Process Control (APC) my role as Executive Director of
reinforcing our leadership position in our Cumene and Phenol plants Deepak Phenolics Limited, I look
and contributing to the nation's has yielded impressive results, forward to leading new projects
vision of self-reliance India including a 1-10% reduction in the at Deepak Chem Tech Limited,
(Aatmanirbhar Bharat). specific consumption of utilities a wholly owned subsidiary of
and chemicals, over 625 metric Deepak Nitrite Limited. In our
Commitment to Sustainability tons per year reduction in CO2 ongoing expansions as well, the
and Technological Innovation emissions and a 50% reduction in focus remains on sustainability.
Sustainability is a cornerstone vent losses.
of our operational philosophy. At I would like to express my heartfelt
DPL, we are deeply committed to Forging a Sustainable Future gratitude to our employees,
integrate sustainable practices As we continue to expand customers, suppliers and all
into every aspect of our business. our capacity and diversify our stakeholders for their support.
This year, we made substantial portfolio, our focus remains Together, we will continue to drive
strides in energy conservation, on sustainable growth. The sustainable growth and create a
a testament to our dedication to establishment of our Sustainability lasting impact on the industry and
environmental stewardship. By Committee earlier this year the communities we serve.
improving the usage of Smart underscores our commitment to a
PO, we achieved a 12% year-on- long-term vision. This Committee Best Regards,
year increase in power savings. will provide focused attention Meghav Mehta
Additionally, our Energy Index to our sustainability initiatives, Executive Director
has reduced to 1.91 mmkcal/ ensuring that we remain at Deepak Phenolics Limited
MT from 2.04 mmkcal/MT in the the forefront of industry best
previous year, highlighting our practices. The Committee will also
ongoing efforts to enhance energy play a pivotal role in establishing
efficiency. our sustainability roadmap,

Message from the

Chief Manufacturing Officer,
Dear Stakeholders, At DNL, sustainability has always practices, ensuring that we not only
been at the core of our operations. meet regulatory requirements but
It is with great pride and a We understand that our industry exceed them.
deep sense of responsibility has significant environmental
that we present to you the first and social impacts and we are In alignment with global standards
Sustainability Report of Deepak committed to minimise our footprint and expectations, we have
Nitrite Limited ('DNL'). As a leading while contributing to the well-being developed a comprehensive
chemical manufacturing company of the communities we serve. This Environmental, Social and
in India, we recognise that our role report highlights our progress, Governance (ESG) Roadmap to
extends beyond business success challenges and the sustainable guide our strategy and actions. Our
— it encompasses creating value for practices we are embedding across roadmap is built on the firm belief
society, our environment and future our manufacturing processes. that sustainability is not a separate
generations. function but an integral part of our
Over the past years, we have made business, driving long-term value
substantial strides in reducing for our stakeholders.
energy consumption, improving
resource efficiency and fostering Environmental Stewardship: A
a culture of innovation that aligns Sustainable Future
with the principles of circular As part of our Environmental
economy. Our operations have commitment, we are actively
evolved to integrate state-of-the- working to reduce our carbon
art technologies and industry best footprint and enhance our
Anant Pande
Chief Manufacturing Officer

operational efficiency. Our initiatives committed to foster an inclusive the importance of setting clear
are focused on: workplace that promotes equal and measurable targets. Our
• Carbon Footprint Reduction: We opportunities for all employees. ESG roadmap is a dynamic,
have committed to reduce our Over the last few years, we evolving strategy that will guide
Greenhouse Gas emissions year have tried to focus on involving us towards a future where our
on year. This involves increasing shopfloor teams in the safety operations contribute positively to
the use of renewable energy, journey. the environment, society and the
optimising energy usage. • Ethical Supply Chain: We are economy.
• Resource Efficiency: We are working towards enhancing the
continuously improving water sustainability of our supply chain In the coming years, we aim
management systems and by ensuring that our suppliers to expand our investments in
reducing waste generation adhere to stringent environmental renewable energy, advance
through circular economy and social standards. our zero-waste initiatives and
principles. Our waste-to-value collaborate with industry leaders to
strategies focus on reusing, Governance: Ensuring drive innovation and industry-wide
recycling and recovering valuable Transparency and Accountability change.
materials from production Our Governance approach
processes along with a continual is designed to ensure that This Sustainability Report is not
focus on maximising our process sustainability is embedded at every just a reflection of where we are
yields. level of the organisation. today but also a roadmap for
• Strong Corporate Governance: where we aspire to go in the future.
Social Responsibility: We have implemented the As we continue to innovate and
Empowering Teams highest standards of corporate improve, we remain committed to
Our Social initiatives are focused governance, with clear policies transparent reporting, measurable
on ensuring the well-being of on ethical business practices, targets and accountable actions.
our employees, supporting local anti-corruption measures and We are determined to continue
communities and promoting transparency in reporting. being a leader in sustainability,
diversity and inclusion throughout • Sustainability Integration: The creating a lasting, positive impact
our operations. Sustainability Committee of for all our stakeholders.
• Employee Health and Safety: We the Board regularly reviews the
prioritise the health, safety and progress on ESG to ensure that I would like to extend my sincere
well-being of our employees. we are on track to meet our ESG gratitude to everyone who is
We have implemented stringent goals and that our actions are contributing to our sustainability
safety protocols across all aligned with our long-term vision. journey. By embracing innovation
our plants, with a focus on and sustainability, we aim to
continuous training, safety Our Vision for the Future strengthen our position as an
culture and accident prevention. As we continue to build upon industry leader and partner in
• Inclusive Growth: We are our ESG initiatives, we recognise driving meaningful change.
Thank you for your continued

support.
Over the past years, we have made
substantial strides in reducing energy Best Regards,
consumption, improving resource Anant Pande

Chief Manufacturing Officer
efficiency and fostering a culture Deepak Nitrite Limited
of innovation that aligns with the
principles of circular economy.
Our Sustainability
Strategy

Stakeholder Identification and Engagement

The guiding principles of our may be made. This method meaningful involvement and places
ongoing interactions with helps us fulfill our social and a high value on open and honest
stakeholders are openness, environmental responsibilities communication with them.
accountability and transparency. in an efficient manner while also
We respect their opinions and fostering trust, managing risks and Our primary stakeholder groups are
have put in place a thorough improving our reputation. those that are influenced by our
engagement process to encourage business and those that are either
dialogue and solicit their feedback Our strategy for engaging directly or indirectly impacted by
so that well-informed decisions stakeholders directs the process of our operations.
Why do we Engage with our Stakeholders?
To determine how our business

practices and sustainability
initiatives affect the environment
and communities and to work with
locals to develop solutions that
have a beneficial influence.
To improve brand Understanding their issues

equity through and opinions will help us
stronger stakeholder develop future tactics
interactions. accordingly.
To detect and minimise

Our goal is to understand
risks, capitalize on growth
our workers' issues and Our
Stakeholders opportunities and remain up-to-
expectations and link their
date on industry and regulatory
talents and knowledge with
developments and emerging
our future growth strategy.
trends across regions.
To build trust with To gather client input to

stakeholders and cultivate enhance processes, quality
long-term connections via and product performance.
corporate citizenship.
To obtain important information

and viewpoints from external
sources through some of our most
well-known clients, significant
investors, suppliers and regulators.

Approach to Stakeholder Engagement
Customers
Mode of Engagement Expectations Our Response Value Created

• Face-to-face • Enhanced value • Meeting contractual • Long-term
meetings proposition by obligations by ensuring relationships
• Virtual meetings improving product timely delivery of high- with
• Phone calls quality and quality products. customers.
• Email affordability. • Maintaining consistency in
communication • Ensure reliable and product quality.
• Exhibitions consistent supply. • Continuous communication
• Conferences • Respond promptly to and collaboration to address
customer needs and evolving needs.
technical enquiries. • Tailoring product
• Implement grievance development to fulfil
mechanism that is specific requirements.
both effective and • Expanding operations /
robust. footprints to accommodate
increasing market demand.
Investors

• Annual General • Disclosure regarding • Disclosing accurate and • Profit After
Meeting Company’s financial transparent information Tax ₹ 811
• Investor/analyst performance with all stakeholders in a Crores.
meetings/ in a timely and timely manner. • Increase
conferences transparent manner. • Attaining steady and in market
• Annual Report • Forecast future sustainable performance Capitalisation
• Quarterly earnings growth by via focussed strategy for ₹ 3,810
concalls maintaining value creation. Crores.
• Media releases consistency in • Upholding the highest • ROE 18%
• Company website Company’s operating standards of Corporate • EPS ₹ 59.45
and financial
• Dedicated investor Governance. • Dividend of
performance.
email address • Consistent dividend ₹ 7.50 per
• Ensure financial
• Individual payments. equity share.
discipline in
communication • Enhancing value creation • Strong
accordance with
channels by early identification of financials
global best practices.
• Through Registrar opportunities, establishing with zero
• Maintain high
and Share Transfer a solid foundation for debt balance
governance
Agent (RTA) consistent growth and sheet.
standards and protect
• Social Media minority interests. weathering external risks
• Create value and and uncertainties.
long-term wealth • Transparent disclosures
creation with robust through Integrated Report
fundamentals and and ESG (BRSR) reporting.
consistent dividend
payments.

Employees

• Senior leadership • Professional growth • Strongly prioritising • 64,777
communication opportunities. Learning and Development. manhours
sessions. • Training and • Offering growth of training
• Performance review development. opportunities by setting provided.
and appraisal • Mental and physical higher internal mobility • Highly
meetings. wellbeing and safety. targets. motivated
• Union meetings for • Fair remuneration • Ensuring timely payment of employees.
open dialogue and and timely payment. salaries.
collaboration. • Work-life balance. • Advocating for better Work-
• Wellness initiatives life balance.
promoting employee • Dedicated focus on Health
well-being. and Safety protocols.
• Employee • Performance awards and
engagement recognition.
surveys to gather • Social gatherings for
feedback and employees and their
insights. families to foster a sense of
• Townhall meetings community.
for transparent • Celebration of festivals to
communication and promote cultural inclusivity
updates. and a positive work
• Sports events to environment.
encourage team • Birthday celebrations to
building and recognise and appreciate
physical wellbeing. employees on their special
• Performance awards
day.
and recognition.
• Social gatherings for
employees and their
families to foster a
sense of community.
• Celebration of
festivals to promote
cultural inclusivity
and a positive work
environment.
• Birthday
celebrations
to recognise
and appreciate
employees on their
special day.

Suppliers

• Supplier meetings • Mutually beneficial, • Providing timely order • Strong
• Phone calls long-term confirmation and clear Supplier base
• Email relationships. delivery schedules based created.
communications • Transparency in the on demand and anticipated • Seamless
• Virtual meetings selection process. market prices. Supply Chain
• Conferences • Negotiations on • Implementing reverse operations.
• Trade Exhibitions pricing. auction methods to enhance
• Confirming quality, transparency across various
quantities and Stock Keeping Units (SKUs).
prices in a timely • Maintaining timely payment
manner, agreeing on schedules.
delivery schedules • Maintaining transparency
and ensuring timely in selection process and
payments. pricing.
Communities

• Engaging in regular • Exhibiting sensitivity • Structuring and • ₹ 27.87
dialogues with and responsiveness implementing community Crores in CSR
community through to pressing development programmes spend in FY
meetings, visits and community needs. based on CSR need 2023-24.
interactions. • Promoting initiatives assessments. • 8,50,000+
• Executing CSR aimed at equitable • Undertaking CSR projects CSR
initiatives to and inclusive that prioritise healthcare, beneficiaries.
encourage development. education, skill building, • 5 States
community • Ensuring compliance livelihood and women covered
involvement. with health, safety empowerment. under CSR
• Utilising and environmental • Conducting periodic Projects.
demographic performance reviews and impact analysis
surveys to obtain standards. to assess the effectiveness
valuable insights • Generating of the initiatives.
and feedback from employment
the community. opportunities for
local community
members.
• Engaging in
community
development
activities.
• Implementing
corporate social
responsibility (CSR)
initiatives to address
community needs.

Government Regulatory Bodies

• Meetings with local, • Regulatory • Strong governance • Offering well-
state and national compliance. through Board of Directors informed,
government officials • Social development possessing expertise in evidence-
and ministries. and employment relevant fields. based
• Participating in generation. • Ensuring timely and constructive
seminars, issuing accurate legal compliance. feedback
media releases • Identifying opportunities to promote
and attending to influence development industry
conferences. of new policies, regulations growth.
• Active membership and legislations impacting • Keeping
in industry our industry and the informed
associations. Company. about
• Assuming • Participating in pertinent
leadership positions consultations and public legislations,
to share domain hearings organised by policies and
knowledge government, industry regulatory
and promote bodies, legal bodies, where changes that
collaboration across possible. may impact
the industry. DNL, ensuring
stringent
compliance.

Double Materiality Assessment

At Deepak sustainability is not lens through which we assess decision-making processes are
merely a corporate responsibility, and address the impacts of our aligned with long-term value
but a foundational element operations, both internally and creation, risk management and
integrated into our business externally on the society and the positive societal impact.
strategy. The concept of double environment. This comprehensive
materiality serves as a critical approach ensures that our
Understanding Double compliance and corporate issues, enabling us to align our

Materiality reputation. For instance, sustainability strategy with the
Double materiality assessment energy efficiency and waste expectations of stakeholders and
is a dual approach for management are material the requirements of regulators.
understanding and prioritising the issues that directly influence
factors that influence Deepak's our cost structure and This approach allows us to align
business performance and operational efficiency. our corporate strategy with
societal impact. This assessment 2. Environmental and Social the United Nations Sustainable
goes beyond traditional financial Materiality: Issues where Development Goals (UN SDGs)
materiality by also considering Deepak's business activities and other global
the environmental, social and could significantly impact sustainability frameworks.
governance (ESG) factors society, the environment or
that affect or are affected by other stakeholders. It involves Approved by Senior
our operations. In essence, it assessing the external Management and
recognises two dimensions: impact. For example, our Sustainability Committee
1. Financial Materiality: efforts to reduce carbon The results of the materiality
Issues that could impact emissions and transition to assessment are reviewed
the financial performance, renewable energy sources and approved by our senior
position or prospects of have a direct positive impact management and the Committee
Deepak. It involves assessing on climate change mitigation of Directors. This sign-off ensures
internal impact which and public health. that our materiality assessment
refers to how material aligns with the strategic direction
issues affect our business By examining both dimensions, of the Company and receives the
operations, including financial we ensure a holistic necessary oversight from top
performance, regulatory understanding of our material leadership.

Materiality Assessment Process

The double materiality assessment was conducted by following a systematic and thorough approach,
incorporating stakeholder engagement, impact analysis and prioritisation. This process aims to identify, evaluate
and rank the issues most crucial to both our business and the broader ecosystem in which we operate. We conduct
or review the materiality analysis every two years, with the most recent assessment completed in FY 2023-24.
Stakeholder Engagement Prioritisation of

Material Issues
Involvement of External Stakeholders:
We recognise that external stakeholders play a pivotal role in Materiality Matrix:
shaping our materiality assessment. We engage with a wide To effectively communicate the
range of stakeholders, including customers, suppliers, regulators, results of our double materiality
investors and local communities. This engagement helps us gather assessment, we plot the
diverse perspectives on the material issues that could affect or be identified issues on a materiality
affected by our business activities. matrix. This matrix visually
represents the dual impact of
Involvement of Internal Stakeholders: each issue – its significance to
Our internal stakeholders, which include employees, management our financial performance and
and Directors, are equally important in the materiality process. its impact on the society and
Their insights are crucial in understanding the internal impact of the environment. Issues that
external factors and in aligning our sustainability strategy with are high in both dimensions are
business objectives. prioritised in our sustainability
strategy.
Integration with Enterprise

Impact Analysis Risk Management (ERM):
The prioritised material issues
Identification of Material Issues: are then integrated into
The materiality assessment begins with the identification of a Enterprise Risk Management
broad range of issues that could be material to us. This includes (ERM) process. This ensures
economic, environmental and social factors. We leverage industry that material sustainability risks
standards, peer benchmarking and regulatory frameworks to and opportunities are managed
identify these issues. alongside traditional business
risks. By embedding materiality
Assessment of Financial Materiality: into our ERM, we enhance our
Each identified issue is then assessed for its potential impact ability to mitigate risks, seize
on our financial performance. This includes analysing risks and opportunities and ensure the
opportunities related to revenue, costs, capital expenditures and long-term resilience of our
access to finance. Issues that could significantly influence these business.
financial metrics are categorized as financially material.
Assessment of Environmental and Social Materiality:

Simultaneously, we assess the potential impact of our business
activities on the society and the environment. This involves
evaluating factors such as carbon emissions, resource use,
community relations, human rights and employee well-being.
Issues that could lead to significant external impacts are
categorized as environmentally and socially material.

Material Topic
High
9 14
16
8 10 3 15
1 12
(Impact on stakeholders)
19
17
Outward Impact
2
6 5
11
7
13
18
4
Low
Low High
Inward Impact
(Impact on Company's Business)
Top Priorities Key Issues Hidden Value Hygiene Monitoring Issues

Creators Factors
Note: The 53rd Annual Integrated Report 2023-24 excludes Biodiversity from Materiality Matrix since it is considered as a monitoring issue.
Environment (E) Social (S) Governance (G)

1. Water Use and Effluent 6. Employee Engagement 12. Product Stewardship
Management 7. Diversity, Equity and Inclusion 13. Product Innovation
2. Waste Management 8. Human Rights 14. Growth and Profitability
3. Climate Change 9. Occupational Health 15. Corporate Governance
and Emissions and Safety 16. Business Ethics and
4. Biodiversity 10. Community Involvement Compliance
5. Energy Management 11. Customer Relationships 17. Business Continuity
18. Digitalization, IT security and
Data Privacy
19. Sustainable Supply Chain

Material Issues and Relevant SDGs

The Materiality Assessment highlighted 19 areas that might influence Deepak's potential to provide value for
people, the environment, society, business and stakeholders. Our policies and processes prioritise regulatory
compliance, stakeholder engagement and long-term company sustainability in an ever-changing world.
Environment
Material Topics
Water Use and Effluent Management
Significance and Impact

• Water being a critical resource, its availability will have a high impact on our operations.
• Deepak's water consumption for its manufacturing will also have a high external impact.
• Effluent management highly impacts the surrounding environment as well as our business, given the
scale of Deepak's operations.
Waste Management

• Failure to comply with required waste management standard practices will have high negative impact on
our operations.
• Outward impact of Deepak's waste management practices is medium.

• Climate change and emissions norms and regulation will have a high impact on our business.
• Deepak's operations will have a high outward impact on the community.
Biodiversity

• Biodiversity loss will have a significant impact on our resource availability and operational risks.
• Deepak's operations will have a substantial outward impact on local ecosystems and biodiversity.
Energy Management

• Efficient energy management can lower manufacturing emissions and reduce costs.
• This matter has a moderate impact on external stakeholders.

Social
Employee Engagement

• Investing in employee training/upskilling and employee engagement activities, fostering their involvement
levels has a high inward impact.
• This also helps elevate Deepak's brand and reputation externally.
Diversity, Equity and Inclusion

• Diversity, Equity and Inclusion (DEI) will have a high influence on our workforce and culture.
• Our DEI initiatives will have a significant outward effect on social equity and economic opportunities in the
community.
Human Rights

• Deepak's policies and procedures champion UN Human Rights principles, fostering a positive impact on
the outside community.
Occupational Health and Safety

• Occupational Health and Safety (OHS) will significantly influence our workforce productivity and overall
well-being.
• Our OHS practices also play a key role in enhancing health and safety standards within the wider
community.
Community Involvement

• Deepak's community involvement and upliftment initiatives have a high impact.
• These endeavours enhance our reputation in the public eye, leading to a significant inward impact.
Customer Relationships

• Maintaining customer relationships is critical to Deepak's operations and hence has a high inward impact.

Governance
Product Stewardship

• Product stewardship is vital for integrating environmentally responsible practices across the life cycle of
chemical products, aligning with sustainable chemistry goals.
• It has a high inward and outward impact.
Product Innovation

• Product innovation will have a high impact on our competitiveness and market growth.
• Our innovation initiatives will have a high outward impact on industry standards and consumer behaviour.
Growth and Profitability

• Growth and profitability are critical for Deepak's sustainability.
Corporate Governance

• Corporate Governance is a high priority matter for Deepak as well as the stakeholders.
Business Ethics and Compliance

• Ethics and compliance have a high impact on our operations.
• It is also a high priority topic for stakeholders.
Business Continuity

• This matter has both high inward and outward impact, considering the scale of Deepak's operations.
Digitalization, IT security and Data Privacy

• Digitalisation IT security and data privacy are critical to enhance Deepak's operational efficiency and
manage its risks effectively.
• Our efforts to protect IT infrastructure and ensure data privacy will significantly strengthen stakeholder
trust and ensure compliance with regulations.
Sustainable Supply Chain

• Having a sustainable supply chain is critical for the operations and business continuity.
• Considering the size of Deepak's operations, we can influence the ESG priorities for our suppliers.
• It will have a high impact on stakeholders as well.

Key ESG Risks and Opportunities

Risk or Opportunity: Opportunity
Rationale for identifying the risk / opportunity

A fundamental human right, access to clean and safe water is in line with Sustainable Development Goal 6
of the UN, which calls for its fulfillment by 2030.
As conscientious corporate citizens, we pledge to safeguard the environment and society on several
fronts by making sure that our activities do not adversely affect the quantity or quality of water resources.
In case of risk, approach to adapt or mitigate: NA
Financial implications of the risk or opportunity (Indicate positive or negative implications))

Positive Businesses can see a large increase in positive financial results from efficient water use and
wastewater treatment. Businesses may lower operating costs, improve resource efficiency and lower
regulatory risks by optimising water consumption and sustainably handling wastewater.
Risk or Opportunity: Risk

Climate change and emissions are important concerns for our world today. Since the manufacture of
chemicals requires a lot of energy and water, failing to lessen our environmental impact might have a
negative impact on our reputation in the market as well as our relationships with investors, clients and the
general public.
In case of risk, approach to adapt or mitigate:

We have embraced environmental consciousness through our commitment to sustainable manufacturing
practices. This commitment is evident in our focus on reducing utility consumption, extracting value from
waste and adopting clean technologies. We are continuously striving to enhance our energy efficiency.
Additionally, we ensure that the effluents, emissions and waste generated at our manufacturing facilities
remain within the permissible limits set by the respective Pollution Control Boards.
Financial implications of the risk or opportunity (Indicate positive or negative implications)

Negative Failure to address climate change and emissions-related concerns might lead to long-term
financial losses.
Climate-related hazards, including physical and transition risk, can interrupt our operations and those
of our value chain partners. We carefully considered the financial effects of mitigation measures when
developing our business plan.


Given the inherent nature of our operations, our employees face a range of operational and safety
hazards. It is crucial to address process safety gaps and prevent occupational health and safety (OHS)
incidents that could potentially harm our employees. Neglecting employee well-being and safety not
only jeopardises their physical welfare but also poses risks in achieving production targets and can have
adverse effects on our assets, environment and overall business reputation.

We prioritise continuous safeguarding of occupational health, safety and employee wellbeing.
Stringent safety measures are implemented at all our sites, including regular safety audits and the
provision of appropriate personal protective equipment to our employees. We actively promote safety
awareness through campaigns and training initiatives.

Negative Employee health and safety issues, if not addressed, would result in negative financial
implications.

Engaging with the community in its development not only uplifts the community’s standard of living
but also cultivates future workers and consumers for businesses associated with the end products. This
proactive involvement also enhances the our reputation by fostering goodwill as a benefactor within the
community.

Positive The benefits to the community provided through Deepak's CSR activities develop goodwill and
boost the Company’s brand, which has long-term financial benefits.


Deepak's capacity to deliver substantial value to all stakeholders hinges on its robust financial foundation.
In light of escalating input and energy costs and enduring volatility in foreign exchange rates, maintaining
a secure financial position is imperative. This stability not only fortifies its market position but also
strengthens relationships with clients, investors and the broader public.

We strategically allocates financial resources in adherence to governance standards and best business
practices to ensure sustainable profitability. It prioritises disciplined investments within a robust framework
and employs structured cost management to optimise financial outcomes. By consistently exploring
opportunities along the value chain and maintaining agility in response to evolving market dynamics,
Deepak sustains its performance and enhances its competitive edge.

Positive A planned and methodical approach to investments and cost management will be determining
factor to the success of Deepak in the short run as well as in the long run.

Corporate Governance

Amid the dynamic landscape of the chemical industry, which is characterised by escalating macro-
economic volatility, robust governance practices play a pivotal role in upholding ethical and transparent
business operations. Meeting regulatory compliance requirements and effectively managing risks are
paramount in ensuring responsible conduct and longterm sustainability.

Our governance practices have been established by our competent and esteemed Board of Directors,
comprising members with relevant industry expertise, independent thinking and extensive global
exposure. Aided by transparency in financial reporting, sustainability efforts and other relevant disclosures
and ethical decision making processes, bolstered by effective risk management, serve as the foundation
of our governance framework. We have instilled a culture of accountability and integrity across our
operations, recognising its vital role in promoting good governance practices. We implement and enforce
a robust Code of Conduct and ethical standards to guide the behaviour and actions of employees at
all levels. Our Board and management prioritise health, safety and environmental considerations by
implementing robust safety protocols, promoting sustainable practices and minimising environmental
impact. We have a comprehensive risk management framework to identify, assess and mitigate risks
associated with operations, safety, environmental impact and compliance to solidify our governance
approach. We ensure strict adherence to all applicable laws, regulations and industry standards to
maintain compliance and mitigate legal and reputational risks. We have established Board Committees,
such as Audit, Risk Management, Nomination and Remuneration, CSR, Sustainability Committees and
more to provide focused oversight in critical areas. We regularly evaluate our governance practices,
identify areas for improvement and implement necessary changes to enhance effectiveness and
relevance and build trust with all stakeholders in line with global standards of ESG.

Negative Corporate Governance is increasingly the parameter for evaluation by external stakeholders
and are likely to amplify competitive advantage relating to business sustainability. In case of their failure, it
would have severe financial implications.

Success in business depends on creating and sustaining a culture of ethics and integrity. It supports daily
decision-making by providing employees and partners with a useful reference.

Positive Prioritizing business ethics and compliance can lead to significant financial benefits for
organisations. By adhering to ethical standards and regulatory requirements, companies mitigate legal
risks and avoid significant fines and penalties. A strong ethical culture also fosters trust and credibility with
stakeholders, enhancing customer loyalty, investor confidence and employee morale.

Business Continuity

Risk management and ethics are interconnected. A company faces lower risks to its business when
it adheres to ethical standards. Aligning business ethics with risk management is crucial for ensuring
continuity and resilience during disruptive incidents.

Positive Business continuity ensures resilience against disruptions, minimizing revenue loss, operational
downtime and reputational damage. This proactive approach helps maintain customer trust, preserves
market position and reduces recovery costs, ultimately safeguarding profitability and sustaining long-term
financial health.
Product Stewardship
Risk or Opportunity: Risk and Opportunity

Risk: Reputational damage, negative impact on market share, Opportunity: Reduction in environmental
impact and increased stakeholder trust and in revenue.

Deepak has established a protocol to assess the ESG (Environmental, Social and Governance) impacts of
products during their development stages. These impacts are carefully considered in our decision-making
processes. We have calculated the carbon footprint for most of our products and planning to conduct Life
Cycle Assessments (LCA) for few of our existing products in the fiscal year 2023-24.

Positive Increased circularity will result in decreased cost of materials, increased productivity and greater
profitability. Such operational practices also cater to the customers preferences; aligned to responsibly
sourced /manufactured products.


Having a sustainable supply chain is critical for our operations and business continuity. Considering the
size of Deepak's operations, we can influence the ESG priorities for our suppliers. It will have a high impact
on stakeholders as well.

We maintain a robust logistics and distribution network using secure transportation with GPS tracking
to monitor raw materials and finished goods in real-time. Our organised warehousing ensures prompt
customer deliveries. Leveraging our manufacturing expertise, integrated facilities and agile operations,
we consistently deliver reliable and steady performance.

Negative Any disruption in Supply Chain would adversely affect the business continuity and hence would
jeopardise sustainability of business.
Waste Management

The production and use of agrochemicals generate hazardous waste, necessitating a focus on reducing
waste generation, as well as recycling and reusing waste wherever possible.

Positive Implementing effective waste management strategies can lead to substantial financial benefits
for businesses. By reducing waste generation, companies can lower disposal costs and improve resource
efficiency.
Energy Management

Recognizing the importance of energy efficiency in all business activities, we actively monitor our
performance using systems installed across multiple locations to track daily energy consumption. Our
energy conservation strategy aligns with our commitment in achieving established sustainability goals
and targets.

Positive Effective energy management practices can yield substantial financial benefits for businesses.
By optimising energy use, operational costs associated with utilities, such as electricity and fuel can be
reduced.

Employee Engagement

Skilled and proficient employees execute their responsibilities with effectiveness and efficiency,
contributing to a capable workforce that drives internal growth. This enhances product quality and
ultimately, boosts revenue.

Positive Efforts in ensuring the skill development of the workforce will lead to a more efficient workforce
and improved productivity.
Human Rights
Risk or Opportunity: Risk and Opportunity

Human rights significantly influence business operations both internally and externally, spanning from raw
material procurement to distribution and disposal. They also play a crucial role in shaping the Company
reputation throughout the entire value chain. Risk: Potential regulatory non compliance and reputational
damage. Opportunity: Upholding employees’ and workers’ rights through collective action.

We have implemented a robust Human Rights due diligence framework to systematically assess our
operations. This includes conducting human rights vulnerability assessments at our operational sites
to identify and mitigate risks, as well as monitoring and reporting our performance. We are committed
to uphold Human Rights across all aspects of our business operations. Our commitment to respect
Human Rights extends to our business partners through alignment with our policies and contractual
agreements. In FY 2023-24, no incidents of Human Rights violations were reported, demonstrating our
dedication to maintain ethical standards throughout our operations.

Positive Implications of non-compliance to social adherence norms related to Human Rights will have
reputation impact for any company. The mitigation of such risks requires investment in Human Rights
vulnerability assessment and actions. Proactive and regular compliance by the workforce is imperative to
ensure business continuity in the long run.


Corporate
Governance

Board Structure – Deepak Nitrite Limited

At Deepak Nitrite Limited ('DNL' equipped to navigate the complex the Company remains on a path
or 'the Company'), the Board of business environment, identifying of sustainable growth, delivering
Directors serves as the highest and addressing challenges while enhanced value to all stakeholders.
governance body, entrusted with capitalizing on opportunities. Additionally, the governance
the responsibility of steering framework includes a series of
and supervising the Company’s The Board plays a crucial role in committees, each tasked with
operations. The Board ensures providing strategic guidance to specific responsibilities, to support
adherence to business ethics, the management team, fostering the Board in maintaining robust
values and culture. Comprising responsible business practices that governance practices ensuring
members with a wide range align with long-term sustainability compliances and managing risks.
of experience and diverse goals. Through continuous
perspectives, the Board is well- oversight, the Board ensures that
Shri Deepak C. Mehta Shri Maulik Mehta Shri Sanjay Upadhyay Shri Girish Satarkar
Chairman and Managing Director Executive Director and CEO Director (Finance) and Group CFO Executive Director
Shri Ajay C. Mehta Shri Meghav Mehta Shri Sanjay Asher Smt. Purvi Sheth
Non-Executive Director Non-Executive Director Independent Director Independent Director
Shri Dileep Choksi Shri Prakash D. Samudra Shri Vipul S. Shah Shri Punit S. Lalbhai
Independent Director Independent Director Independent Director Independent Director
As of March 31, 2024, the Board is composed of twelve (12) Directors, including four (4) Executive Directors and
eight (8) Non-Executive Directors. Of the Non-Executive Directors, six (6) are Independent Directors, including
one (1) woman Independent Director.

The Company’s Chairman is an character and judgment, free such as Business, Finance, Law,
Executive Director and Promoter. from any relationships that could Information Technology, Human
The Board meets the requirement significantly affect their impartial Resources, Chemicals and
that at least half of its members decision-making. The Board Project Management. This diverse
be Independent Directors, with six is composed of highly skilled blend of skills and experience
(6) Independent Directors serving professionals who bring a wealth strengthens our decision-making
during the financial year ended of diverse expertise, perspectives processes, driving the Company's
March 31, 2024. Each Independent and extensive corporate strategic direction and long-term
Director brings significant business experience to the organisation. sustainability.
experience and is deemed by The collective knowledge of the
the Board to be independent in Board spans various key areas

Board Structure – Deepak Phenolics Limited

At Deepak Phenolics Limited Board is structured to provide a experience enhances the Board's
('DPL'), as on March 31, 2024, strong foundation for effective ability to guide DPL strategically,
the Board of Directors consists governance, with members ensuring that all aspects of the
of 12 members ensuring a well- bringing a broad spectrum of business are managed with a high
rounded mix of Executive and expertise across various sectors. level of insight and responsibility.
Non-Executive Directors. The This diversity in knowledge and
Shri Deepak C. Mehta Shri Meghav Mehta* Shri Kishor Jhalaria Shri Maulik Mehta
Chairman and Managing Director Executive Director Executive Director and CEO Non-Executive Director
Smt. Ila D. Mehta Shri Sanjay Upadhyay Shri Sandesh Kumar Shri Shripad Gumaste
Non-Executive Director Non-Executive Director Anand Non-Executive Director
Non-Executive Director (Upto: 30-07-2024)
Shri Ashok Shri Prem Kumar Taneja Shri Milin Mehta Shri Sanjay Asher
Balasubramanian Independent Director Independent Director Independent Director
Independent Director (Upto: 24-07-2024)
As of March 31, 2024, the Board is composed of twelve (12) Directors, including three (3) Executive Directors,
five (5) Non-Executive Directors and four (4) Independent Directors. The Non-Executive Directors include
one (1) woman Non-Executive Director.
*Shri Meghav Mehta completed his term as Executive Director of DPL on 01-05-2024 and continues to be Non-Executive Director of DPL with effect from 02-05-2024.

In accordance with Section 152 recommends his re-appointment, in its meeting on May 15, 2024,
of the Companies Act, 2013, Shri Shri Shripad Gumaste has not not to fill the vacancy caused by
Shripad Gumaste and Shri Kishor opted to be re-appointed and will his retirement. A resolution for
Jhalaria are due for retirement retire at the upcoming Annual this decision will be presented at
at the upcoming Annual General General Meeting. The Board the forthcoming Annual General
Meeting. While Shri Kishor Jhalaria acknowledges Shri Shripad Meeting as per Section 152(7)(a) of
has expressed his willingness Gumaste's significant contributions the Companies Act, 2013.
to continue and the Board during his tenure and has decided,
Board Diversity and Composition

Age-Wise Categorisation of Board of Directors
S. No. Age Categorisation No. of Directors – DNL No. of Directors – DPL

1 30 – 40 Years 01 01
2 40 – 60 Years 03 03
3 60 Years and Above 08 08
Gender Diversity – Board of Directors
S. No. Gender No. of Directors – DNL No. of Directors – DPL

1 Male 11 11
2 Female 01 01
Composition of Board of Directors
S. No. Board Composition No. of Directors – DNL No. of Directors – DPL

1 Executive Directors 04 03
2 Non-Executive Directors 02 05
3 Independent Directors 06 04
Tenure of Members on the Governance Body
S. No. Gender No. of Directors – DNL No. of Directors – DPL

1 Average tenure of Board of Directors 9.71 6.60

Board Performance Evaluation

The annual evaluation of The performance evaluation Board, excluding the director
individual Directors, the Board process aligns with the being assessed. The evaluation
and its Committees was requirements of the Companies concluded that each Independent
conducted in accordance with Act, 2013 and the Listing Director brings substantial
the provisions of the Companies Regulations, which ensure knowledge, expertise and
Act 2013 and the SEBI (Listing transparency, accountability and experience in their respective
Obligations and Disclosure protection of investor interests fields. They demonstrate a
Requirements) Regulations, 2015 in listed companies. These strong understanding of the
('Listing Regulations'). Following regulations mandate proper Company’s business and the
recommendations from the governance practices, including broader economic environment
Nomination and Remuneration the evaluation of board and in which it operates, dedicating
Committee, the Board adopted management effectiveness. significant time and attention
a Performance Evaluation Policy The Board conducted its annual to critical business issues and
outlining the criteria for assessing self-assessment, as well as providing valuable guidance.
the effectiveness of the Board, evaluations of its Committees Their contributions have notably
its Committees and individual and individual Directors, based enhanced the Company's
Directors. The policy also includes on the criteria specified in the governance standards.
specific criteria for evaluating Performance Evaluation Policy.
the performance of Independent The Independent Directors
Directors. were assessed by the full
The criteria for evaluating the performance of Independent Directors include:
Relevant Dedication to Focus on the Participation in Professional Understanding of

knowledge, the Company's most pertinent discussions and conduct, ethics the duties, roles
expertise and long-term issues for the endorsement of and integrity and functions of
experience strategic issues Company the Company’s an Independent
strategy Director

The Board also evaluated the defined Terms of Reference. The The Board is of the opinion that
performance of its Committees Committees actively engaged in Directors of the Company including
after receiving input from discussions and provided effective Independent Director possess
Committee members. It was recommendations on matters requisite qualifications, integrity,
concluded that the Committees related to the Company’s business, expertise and experience in their
are well-structured, with operations and governance. The respective fields.
an appropriate number of Directors expressed satisfaction
Independent Directors and clearly with the evaluation process.
Board Remuneration and Annual Total Compensation Ratio

The remuneration package for the is disclosed that Shri Deepak C. policy. The Board of Directors,
Chairman and Managing Director Mehta serves as the Chairman and acting on the recommendations of
includes a combination of salary, Managing Director of both DPL and the Nomination and Remuneration
allowances, perquisites and other its parent company, Deepak Nitrite Committee, determines this
benefits. Additionally, the Chairman Limited (DNL). While he receives variable pay. Key performance
and Managing Director is entitled a commission as Chairman and indicators for assessing the
to receive a commission based on Managing Director of DPL, he also variable pay include metrics such
the Company's Net Profits for a draws a salary and other benefits as Sales, EBITDA, PBT, Working
given financial year, as determined from DNL in the same capacity. Capital Management, Compliance,
by the Board of Directors upon the Market Capitalization Growth,
recommendation of the Nomination Executive Directors receive a fixed Credit Ratings and Cost of
and Remuneration Committee, salary, allowances, perquisites Borrowings.
in accordance with the overall and other benefits, along with
limits set by Section 197 and performance-linked variable pay. In the Financial Year 2023-24, there
other relevant provisions of the This variable pay is awarded at was an increase of 8.65% in the
Companies Act, 2013. the end of each financial year median remuneration of employees.
and is based on both individual
In compliance with Section 197(14) and Company performance, in
of the Companies Act, 2013, it accordance with the Company’s
ESG Governance
Strategic Oversight by the health and safety, sustainable
SUSTAINABILITY COMMITTEE
Board of Directors supply chains, energy efficiency,
COMPOSITION
At Deepak, ESG governance is climate change mitigation, water
integrated into our operational stewardship, waste management Shri Punit Lalbhai, Chairman
framework and strategic vision. and regulatory compliance.
Shri Vipul Shah, Member
The highest governance body, The Board actively defines the
the respective Board of Directors, organisation's purpose, values and Shri Maulik Mehta, Member
is instrumental in shaping and mission to align with sustainable
approving the Deepak’s ESG development goals and oversees Shri Girish Satarkar, Member
framework, ensuring alignment the Deepak’s ESG strategies
with global sustainability to ensure their relevance and
priorities. The framework effectiveness.
emphasizes key areas such as

Role of the Sustainability energy utilization and stakeholder developing and recommending
Committee welfare initiatives. Comprising four a comprehensive Sustainability
To strengthen its ESG initiatives, a members, including independent Roadmap, monitoring the
dedicated Sustainability Committee and executive directors, the implementation of ESG priorities
of Directors has duly been Committee offers a platform for and reviewing related disclosures to
constituted and is in place. The informed decision-making on enhance transparency. Additionally,
Committee’s primary mandate is to sustainability matters. the Committee ensures alignment
drive the Company's sustainability with emerging sustainability
agenda, providing focused attention The Sustainability Committee’s practices, providing actionable
to energy conservation, renewable terms of reference include insights to the management team.
Our Priority Areas
Responsible
Sourcing and Energy and
Health and Supply Chain Climate Change
Safety sustainability Management
Water and Compliance

Waste with Regulatory
Management Requirements
Stakeholder Engagement and Focus on Sustainability

Due Diligence Practices Transparency and Accountability
A structured approach to Operationalizing ESG principles Transparency forms the foundation
stakeholder engagement is an involves aligning policies with of ESG governance at Deepak.
essential part of Deepak ESG the Sustainability Roadmap Periodic evaluations by the Board
governance. The Board, supported developed by the Sustainability and its Committees ensure
by senior executives, incorporates Committee. Deepak continually that the governance structure
stakeholder perspectives into ESG monitors developments in remains robust and aligned with
initiatives through ongoing dialogue ESG best practices, ensuring sustainability objectives. ESG-
and collaboration. This approach the adoption of innovative and related disclosures undergo
enables Deepak to address key responsible solutions in its business thorough reviews to provide
economic, environmental and social processes. This includes embracing stakeholders with clear and
impacts effectively. Due diligence renewable energy, reducing accurate insights into Deepak’s
processes overseen by the Board resource intensity and enhancing sustainability performance and
help manage risks and ensure supply chain sustainability. progress.
adherence to best practices in
responsible business operations.

Conflict of Interest
As outlined in Deepak's Code of indirectly, through a relative Board. Additionally, when dealing
Conduct, Directors are required (as defined under Section 2(77) with the Company, Directors are
to avoid any conflicts of interest. of the Companies Act, 2013 or expected to operate at arm’s
Directors must not engage in any statutory modification or length to prevent any actual or
any transaction or relationship re-enactment thereof) or an perceived conflicts of interest.
with any entity where they affiliated organisation, without
have a financial or personal obtaining prior approval from the
interest, whether directly or disinterested members of the
Board Committees
The Company has established of reference that outline its role, incorporating renewable energy
statutory Committees of responsibilities, composition into operations and enhancing
Directors that support the Board and scope of authority, ensuring the welfare of both internal and
in supervising and directing the effective governance. external stakeholders, including
Company’s business operations through CSR activities. These
in line with the Board’s vision The Company has implemented initiatives play a significant
and guidance. Each Committee several initiatives aimed at role in ensuring the long-term
functions under defined terms conserving energy and resources, sustainability of the business.
Board of Directors
Committees of Board
Sustainability Committee
Risk Management Committee
Audit Committee
Corporate Social Responsibility Committee
Stakeholders’ Relationship and Investors Grievance Committee
Nomination and Remuneration Committee
Project Committee

Board Committees
Sustainability Committee
Chairperson Shri Punit S. Lalbhai

Members Shri Vipul S. Shah, Shri Maulik Mehta and Shri Girish Satarkar
Description of Roles and Responsibilities

The Committee monitors implementation of various Sustainability efforts of the Company on the
identified priorities, review the Company’s disclosures relating to Sustainability on behalf of the Board
and review policies of the Company and recommend to the Board, amendments to such policies, if
necessary, for their alignment with Sustainability Roadmap of the Company.
Risk Management Committee
Chairperson Shri Deepak C. Mehta

Members Shri Sanjay Upadhyay, Shri Maulik Mehta, Shri Vipul S. Shah
and Shri Prakash D. Samudra

The Risk Management Committee has been constituted by the Board inter alia to monitor and review
the Risk Management Framework of the Company and mitigation plan against the risks identified
including cyber security risks.
Audit Committee
Chairperson Shri Dileep Choksi

Members Shri Sanjay Asher and Shri Vipul S. Shah

The Committee’s purpose is inter alia to oversee the accounting and financial reporting process of the
Company, the audits of the Company’s Financial Statements, the appointment, independence and
performance of the Statutory Auditors and the Internal Auditors.
Corporate Social Responsibility Committee
Chairperson Shri Deepak C. Mehta

Members Shri Sanjay Upadhayay, Smt. Purvi Sheth and Shri Punit S. Lalbhai

In accordance with provisions of Section 135 of the Act, the Corporate Social Responsibility Committee
of the Board is duly constituted. The Committee ensures to formulate and recommend to the Board a
Corporate Social Responsibility Policy (“CSR Policy”), recommend the amount of expenditure to be
incurred by the Company on the activities listed in CSR Policy and monitor the CSR Policy of the
Company from time to time.

Stakeholders’ Relationship and Investors Grievance Committee
Chairperson Shri Ajay C. Mehta

Members Shri Sanjay Upadhyay and Shri Sanjay Asher

The Stakeholders’ Relationship and Investors Grievance Committee cohesively supports the Company
and its Board in maintaining strong and long-lasting relationship with its stakeholders at large. The
Stakeholders’ Relationship and Investors Grievance Committee majorly ensures and oversees the
prompt resolution of the grievances of security holders; the implementation of ways to enhance
shareholder experience; assessment of performance of Registrar and Transfer Agent; monitoring of
shareholding movements etc.
Nomination and Remuneration Committee
Chairperson Smt. Purvi Sheth

Members Shri Sanjay Asher and Shri Deepak C. Mehta

The Nomination and Remuneration Committee is responsible for evaluating the balance of skills,
experience, independence, diversity and knowledge on the Board and for drawing up selection
criteria, ongoing succession planning and recommending appointment of Directors and Senior
Management employees. Further, the Nomination and Remuneration Committee is also responsible
for formulating policies with respect to remuneration, performance evaluation, Board diversity, etc. in
line with requirements of the Act and the Listing Regulations.
Project Committee
Chairperson Shri Prakash D. Samudra

Members Shri Vipul S. Shah, Shri Ajay C. Mehta and Shri Punit S. Lalbhai

A Project Committee has been duly constituted by the Board which meets from time to time to review
various projects / capital expenditures undertaken by the Company and recommends new projects to
the Board.


Ethics and compliance are crucial Moreover, a robust ethical culture Sustainability Manual is publicly
to the effective functioning of enhances trust and credibility available and comprehensively
Deepak's operations and are among stakeholders, leading address the following key
a top priority for stakeholders. to increased customer loyalty, areas: corruption and bribery,
At Deepak, we foster a culture investor confidence and employee discrimination, confidentiality
rooted in ethics, accountability morale. of information, conflicts of
and integrity. We have established interest, antitrust and anti-
a comprehensive code of Code of Conduct competitive practices, money
conduct and ethical guidelines Deepak has established and laundering and insider trading,
that govern employee behavior implemented a Code of Conduct environment, health and safety
across all levels. Compliance with for Board members and Senior and whistleblowing.
relevant laws, regulations and Management in accordance with
industry standards is rigorously the requirements of the Listing Whistleblower Policy and Vigil
enforced to reduce legal and Regulations. This Code outlines mechanism
reputational risks. Regular the fundamental principles meant Our Whistle Blower Policy
assessments of our governance to guide Directors and Senior establishes a formal vigil
practices allow us to identify Management in maintaining mechanism that enables Directors
areas for improvement, implement ethical business practices and employees to report any
necessary adjustments and and ensuring compliance with actual or suspected unethical
maintain trust with stakeholders relevant laws. The Code has been behavior, misconduct, wrongdoing
in alignment with global ESG distributed to all Board members or violations of the Company’s
standards. emphasising ethics and Senior Management and is Code of Conduct, ethics policy and
and compliance can result in also available on the Company’s leak of unpublished price sensitive
considerable financial advantages website at www.godeepak.com. information. This mechanism
for companies. By adhering to All Board members and Senior safeguards employees from any
ethical guidelines and regulatory Management personnel have form of retaliation and provides
obligations, organisations affirmed their adherence to the them with the option to directly
minimise legal risks and avoid Code of Conduct for the Financial contact the Chairman of the Audit
expensive fines and penalties. Year 2023-24. The Company's Committee in certain cases.

Grievance Redressal Mechanisms

We have established a strong policy that ensures timely which are then addressed by the
grievance redressal system that resolution of any issues raised. relevant sales team according to
allows our customers to voice The employee grievances are established Standard Operating
their concerns, ensure they redressed through a whistleblower Procedures. This approach
are heard and receive prompt policy that encourages open guarantees that all complaints,
resolution within the specified communication regarding particularly those related to
timeframe. workplace grievances. For delivery and handling, are
customers, a systematic resolved efficiently.
For shareholders, DNL provides process is in place to receive
a dedicated grievance redressal and document complaints,
Grievance redressal mechanism https://www.godeepak.com/wp-content/uploads/2023/11/Investors-

for shareholders Grievance-redressal-policy-1.pdf
Grievance redressal mechanism https://www.godeepak.com/wp-content/uploads/2023/11/DNL_
for employees and workers Whistle-Blower-Policy.pdf
Grievance redressal mechanism https://www.godeepak.com/wp-content/uploads/2021/05/Policy-on-
for customers Stakeholder-Engagement-1-9-2020.pdf
Reporting on Compliance Breaches for FY 2023-24

We at Deepak are proud to report
Reporting Area Number of Breaches
that we had zero instances of
in FY 2023-24
breaches across all key reporting
areas during FY 2023-24. Our Corruption or Bribery 0
commitment to ethical standards Discrimination or Harassment 0
and rigorous compliance Customer Privacy Data 0
measures has ensured that our
operations remain transparent Conflicts of Interest 0
and in full adherence to regulatory Money Laundering or Insider Trading 0
requirements. The absence of any
reported breaches highlights our
dedication of maintaining a secure
and ethical business environment.


Business
Sustainability

Product Stewardship
We have successfully implemented Advanced Process Acid Concentration (SAC) unit, significantly enhancing
Control ('APC') at our Cumene and Phenol plants sustainability at our Nandesari plant.
located at Dahej, Gujarat. We have also implemented
and demonstrated the successfull operation of an Looking ahead, our Nitric Acid, MIBK and MIBC plants
APC controller for a very complex and challenging to are scheduled to be commissioned by FY 2024-25.
optimise - "cleavage reactor" section of the Phenol plant, These plants will enable us to utilise Acetone to produce
which very few peers have implemented in the world. MIBK and MIBC, thereby expanding into downstream
APC is a cutting-edge process control and optimisation value-added products. With numerous brownfield and
technology that fine-tunes various operational greenfield projects set to be completed in the coming
parameters like feed flow, temperature, pressure and years, we are well-positioned for enhanced performance
reflux flows on a minute-by-minute basis—tasks that and growth. Notably, we have also increased our stake
were previously managed manually. The implementation in Deepak Oman Industries (SFZ) LLC to 51%, making it a
of APC has yielded significant benefits including subsidiary of the Company. This strategic investment will
increased production, reduced energy consumption, fortify our market position and expand our operational
improved production yields, enhanced product quality capabilities. It enables us to benefit from low cost inputs
and lower emissions. Additionally, APC has contributed to of raw materials and energy, thereby servicing global
safer and more reliable operations, prolonged catalyst life market more effectively.
and extended asset longevity.
Furthermore, DPL has successfully migrated to SAP-S4
As a result, our Phenol plant now leads the industry HANA, a significant step towards digitalization that
with an impressive capacity utilisation rate over 150%, enhances our resource planning and decision-making,
setting new benchmarks for operational excellence. We streamlines operations and increases our agility as we
have also successfully commissioned a Spent Sulphuric move forward.
Demonstrating quality excellence
• ISO 9001:2015 - Quality • ISO 45001:2018 - Standard (GOTS) Certification

Management System Occupational Health, Safety • TfS (Together for Sustainability)
• ISO 14001:2015 – and Management System Certification
Environment Management • Responsible Care • Nicer Globe
System • Global Organic Textile • Kosher Certification
Product Innovation
Our Research and Development efforts are focused Industrial Research, Government of India, DRDC
on creating innovative chemical compounds and specialises in innovating sophisticated technologies. The
maximising the value of by-products. By consistently facility boasts a dedicated team of over 100 professionals
reviewing existing products and processes, Deepak who are actively engaged in the development of various
aims to enhance efficiency and achieve cost savings. molecules and chemicals, many of which are currently
With an emphasis on sustainable chemistry, we seek to undergoing the patenting process. To date, the Company
harness opportunities for innovation while maintaining has filed approximately 68 patent applications, with 24
high standards of operational excellence. Deepak's patents already granted.
strong execution capabilities and established success
play a crucial role in its evolution into a research and The R&D facility plays a vital role particularly in
innovation-led organisation. developing advanced intermediates that demand
complex chemistry and engineering. Equipped with
Our state-of-the-art Deepak Research and Development cutting-edge instruments and equipment, the facility is
Center ('DRDC'), located at Nandesari, Gujarat serves at the forefront of technological innovation.
as a centralised hub for our innovation capabilities.
Recognised by the Department of Scientific and
Key Focus Areas of the R&D Facility
New Product New Technology Productivity and Yield Sustainability Efforts

Development Platform Development Improvement Reducing water, waste
Pioneering the Advancing and Enhancing efficiency and and energy consumption
creation of establishing new output in existing products. while integrating green
innovative products. technology frameworks. technologies wherever
possible.
DRDC also features a state-of-the- have invested in advanced tools like Mass Spectrometry (GCMS),
art Process Engineering Lab, Kilo flow reactors and flow meters under High-Performance Liquid
Lab and Process Intensification Lab. the Process Engineering Research Chromatography (HPLC),
These facilities are instrumental and Innovation (PERI) initiative. Liquid Chromatography/
in generating scale-up data for Mass Spectrometry (LCMS),
all products developed at DRDC. Role of the Analytical Team: Ultra-Performance Liquid
The application of the Design of • The Analytical Team is essential Chromatography (UPLC), Ion
Experiments methodology, using in supporting synthetic chemistry Chromatography (IC), UV and IR
specialised software for screening throughout every stage of product technologies.
and optimisation, accelerates the and process development. • Where in-house capabilities
lab-scale development process. • The team has been strengthened are limited, the Analytical Lab
by the addition of skilled personnel collaborates with third-party
To support the development of and sophisticated analytical tools, analytical labs to generate
new technology platforms and including Gas Chromatography necessary data (e.g., PSD,
continuous process innovation, we (GC), Gas Chromatography/ S-analysis, NMR).
Advancing Innovation at the

New Research and Development Centre
at Savli, Vadodara
Towards our commitment to innovation and sustainability, we are also
building a state-of-the-art Research and Development Center at Savli,
Vadodara. Slated for completion by March 2025, this state-of-the-art facility
is poised to become a cornerstone of our R&D efforts, driving forward the
chemical industry's future in India.
Facility Overview: The upcoming Savli R&D Centre will house cutting-
edge laboratories and pilot plants designed to foster groundbreaking
research in chemical processes. The facility will be equipped with advanced
technologies that enable our scientists and industry experts to explore and
develop sustainable, environmentally friendly solutions.
Focus on Sustainability: Central to the mission of the Savli R&D Centre is

the emphasis on sustainability. The facility will prioritise the development of
processes and products that minimise environmental impact, aligning with
global trends toward greener and more sustainable industrial practices. By
integrating sustainable methods into our research, we aim to contribute
meaningfully to the global push for eco-friendly innovations.


Deepak experienced increased homecare showed promising reached ₹ 7,892.54 Crores.
volumes and a higher wallet share growth prospects. Deepak Despite facing challenges, the
year-on-year, despite subdued demonstrated resilient business Company strategically allocated
demand recovery in sectors like performance with growth across resources to meet high-demand
agrochemicals, textiles and dyes various product categories. The applications while waiting
and pigments. The Company's successful piloting of a new agro for agrochemical demand to
broad product portfolio and intermediate product set the stage normalise, taking advantage
adaptable plant capabilities for further expansion and deeper of its multi-purpose plants for
allowed it to drive volume-led strategic partnerships in the added flexibility. The year also
growth in specific areas, offsetting coming years. saw the commissioning of several
weaker demand in other parts operational initiatives, leading to
of the portfolio. Sectors such as In FY 2023-24, Deepak's Total increased production capacity and
construction, infrastructure and Revenue, including Other Income, throughput for key intermediates.
Particulars DNL (₹ Crores)
Standalone Consolidated
Direct economic value generated: (Revenues) 2,848.05 7,892.54

Economic value distributed: employee wages and benefits 250.36 346.97
Economic value distributed: payments to providers of 103.13 187.64
capital: (Dividend)
Economic value distributed: payments to government 124.83 292.36
(Total Income Tax Expense)
Economic value distributed: community investments (CSR) 12.45 26.19
Contribution to Employee Gratuity Fund 4.77 5.17
We have embraced an integrated growth approach, venturing into new products, chemistries and end
applications. Our investment strategy for ₹ 14,000 Crores encompasses projects in specialty products, phenol,
BPA, polycarbonate resins and compounds and MMA.
Business Continuity
We prioritise uninterrupted operations customers and stakeholders operations and business continuity.
and business continuity, which during disruptions. The On-Site Given the scale of Deepak's activities,
strengthens our resilience against Emergency Action Plan focuses on we have the ability to influence our
disruptions, minimises revenue risk assessment, impact analysis suppliers' ESG priorities, which can
loss, reduces operational downtime and crisis management, with clearly significantly impact stakeholders.
and protects our reputation. This defined roles and responsibilities. We uphold a robust logistics and
proactive strategy helps maintain These plans are thoroughly reviewed distribution network, utilising secure
customer trust, preserve our market every six months to maintain a high transportation with GPS tracking to
position and lower recovery costs, level of emergency preparedness. monitor raw materials and finished
ultimately safeguarding profitability goods in real-time. Our well-organized
and ensuring sustained long-term The respective Risk Management warehousing system ensures timely
financial health. Committee is responsible for deliveries to customers. By leveraging
developing and reviewing Deepak's our manufacturing expertise,
Deepak has implemented a business continuity plans as per best integrated facilities and agile
comprehensive On-Site and Off-Site industry standards. operations, we consistently achieve
Emergency Action Plan to bolster reliable and steady performance.
the resilience of our operations and Maintaining a sustainable supply
ensure the safety of our employees, chain is crucial for Deepak our
Enterprise Risk Management Framework

Deepak has developed a Assess potential risk exposures making, planning and
comprehensive Enterprise Risk and implement appropriate prioritization.
Management (ERM) framework, mitigation strategies. • Enable the organization to seize
governed by a Board-approved • Monitor Risk Management opportunities while navigating
Risk Management Policy. practices consistently for external uncertainties.
Designed in alignment with ISO efficacy. • Uphold Corporate Governance
31000 and COSO standards, the • Strengthen controls and identify standards.
ERM framework incorporates areas for improvement.
a proactive and systematic • Provide the Board of Directors Continuous Risk Evaluation and
approach in managing risks across with regular reports on Risk Monitoring
all operational levels, including Management initiatives. Deepak consistently identifies
shop-floor activities. This ensures and evaluates risks in the
effective risk mitigation, optimal Objectives of Risk Management short, medium and long term.
business outcomes and sustained The ERM framework aims to: Mitigation plans are developed
organizational success. • Establish controls to mitigate or and implemented as necessary,
reduce risk occurrence. with regular monitoring to
Key Features of the ERM • Align Risk Management with ensure sustainable operations.
Framework strategic organizational Through this framework, Deepak
The ERM framework empowers objectives. safeguards its business resilience
management to: • Enhance business continuity while navigating a dynamic
• Analyze and understand the and sustainability. external environment effectively.
evolving risk landscape. • Support effective decision-

Emerging Risks
1. Critical Change to Earth Systems
Description Impact Mitigating Actions

Human activities, such as Climate changes and emissions We are committed to sustainability through
usage of fossil fuels and significantly affect our operations efficient manufacturing practices, including
deforestation are driving and pose adverse community energy conservation, waste recovery and
global warming, leading impact. Non-Compliance drives up clean technologies. We have adopted
to rising sea levels, melting cost forcing investments in cleaner sustainable manufacturing practices
of ice caps and extreme technologies and regulatory to reduce our environmental impact.
changes in weather adjustments. These regulations This includes efforts to minimise utility
events. These changes also shape our supply chain and consumption, recover value from waste
disrupt ecosystems, affect operational practices. Our activities and utilise clean technologies. We are
biodiversity and pose impact local environments and continually working to improve energy
significant challenges to communities, necessitating robust efficiency and ensure that all effluents,
industries like chemicals, safety measures and transparency. emissions and waste generated comply
impacting supply chains and Embracing sustainable practices with the standards set by relevant Pollution
operations globally. not only ensures compliance but Control Boards. Additionally, we have
also strengthens our community implemented a Laboratory Information
relations and minimises Management System (LIMS), a Reverse
environmental footprint. Osmosis (RO) plant for Zero Liquid
Discharge and a 40 kWp solar rooftop
system. Our new multifuel boiler utilizes
bio-briquettes, reducing emissions and
costs, while wastewater recycling has
begun using steam condensate.
2. Lack of Economic Opportunity
Description Impact Mitigating Actions

Economic opportunity This affects us by limiting access To address economic opportunity
is essential for human to skilled labor, increasing attrition challenges, we invest in maximising the
development, directly and hindering productivity. It can value of our human capital. We attract
impacting access to also restrict market growth, impede top talent, provide extensive training and
resources for employee well- expansion and impact financial maintain a positive work environment
being and growth. Without it, stability and strategic progress. with zero labor unrest. Our management
implementing effective safety, Addressing this risk involves strategy includes overhauling goal-
healthcare, training and engaging in economic development setting processes, establishing functional
social development programs and investing in local communities interdependencies and implementing
becomes challenging, limiting to support growth and stability. tailored learning initiatives. We also
the impact of our human focus on talent management through
development efforts. Ensuring a competency framework, assessment
economic stability supports a centers and internal mobility. This
skilled, motivated workforce, approach enhances employee capabilities
fostering both personal and drives innovation, productivity and
fulfillment and organisational overall business success.
success.

Digitalisation and Cybersecurity

Deepak has established a and stringent access controls. and confidentiality of critical data
comprehensive cybersecurity To further enhance security, across all operations. Our proactive
framework designed to protect Deepak's systems are fortified with approach to cybersecurity reflects.
its data and IT infrastructure from strong authentication protocols Our commitment to maintain a
potential threats. This framework and cutting-edge encryption secure digital environment in
includes a multi-layered defense technologies. These measures an increasingly complex threat
strategy that leverages advanced are in place to protect sensitive landscape.
firewall systems, intrusion information, mitigate the risk of data
detection, prevention mechanisms breaches and ensure the integrity
Zero cases, incidents and consumer complaints pertaining to data breach or cybersecurity
breach has been identified or reported in FY 2023-24.
To ensure the confidentiality and As part of our ongoing systems with this cutting-
security of sensitive information cybersecurity initiatives, we edge technology, we have also
and documents across all functions have significantly upgraded strategically installed new cameras
and sites, we conducted a data existing CCTV (closed-circuit at critical locations across our
life cycle assessment through an television) system by integrating sites. This comprehensive upgrade
external agency. This assessment advanced edge-based analytics not only bolsters our security
evaluated our current data security with security-focused Artificial infrastructure but also ensures
practices, identified areas for Intelligence (AI) features. These a safer working environment for
improvement and recommended new AI capabilities, such as line all employees, while improving
measures to strengthen our crossing detection and intrusion our ability to respond swiftly and
controls preventing potential data area monitoring are designed to effectively to potential security
leaks. Additionally, the assessment enhance overall safety within our breaches.
addressed our IT landscape's data premises, reduce the likelihood of
security practices and third-party staff incidents and aid in incident
risk management. prevention and investigation.
In addition to replacing outdated

Deepak has implemented a continuity, we have implemented Deepak consistently aligns its
robust framework to ensure regular system backups, operations with the latest IT laws
that all employees are aware redundancy plans and robust and cybersecurity frameworks.
of potential threat issues and disaster recovery frameworks. Our Regular audits and assessments
the importance of information Security Operation Center (SOC) help us maintain compliance
security and cybersecurity. We plays a central role in our defence and refine our strategies to
have formulated policies that strategy, continuously monitoring meet evolving legal and ethical
outline the necessary guidelines for threats and responding obligations, ensuring that we
for safeguarding information and proactively to protect our systems stay ahead in safeguarding our
these are reinforced through and data. This ensures that our information.
training sessions to educate cybersecurity measures are both
employees on what actions are proactive and reactive, providing Through these combined efforts,
expected. a strong shield against potential Deepak ensures a resilient
cyber threats. cybersecurity posture that not
Employees are also supported by only protects our critical assets
a well-defined escalation process Adherence to compliance of but also upholds the trust of
in the event of any suspicious regulatory standards is integral our customers, employees and
activity, with monthly awareness to our cybersecurity agenda. partners.
mailers that include contact
details for reporting security
concerns. Incident Response Procedures
Procedure Frequency
Incident Response and
Continuity Planning Business Continuity and Semi-annual testing
In today’s digital landscape, Incident Response
preparedness is crucial for Breach Attack Simulation A breach attack simulation and red
effectively managing cyber and Red Teaming teaming exercise to test the defences
incidents. Deepak has developed across People, Process and Technology is
a comprehensive cybersecurity scheduled in the current financial year.
framework that emphasises
incident readiness and rapid
response. Our well-established External Verification and Vulnerability Analysis
incident response protocol
Procedure Frequency
includes a dedicated team,
clear communication strategies External Vulnerability Analysis Bi-annual
and a systematic approach to Simulated Hacker Attacks Atleast twice a year
containment, investigation and
recovery, ensuring that any cyber
threat is swiftly managed.
Information Security Breaches
To further reinforce our Metric Count

commitment to business
Total Breaches in Current and Last Financial Year 0


At Deepak we prioritise a resilient supply chain. and social considerations from
sustainable approach to supply raw material sourcing to product
chain management, ensuring Our supply chain solutions delivery. To ensure supply chain
efficient sourcing, streamlined integrate cutting-edge integrity, we maintain a proactive
logistics and risk mitigation. technologies, including Cloud risk assessment framework that
By developing comprehensive Computing, AI, ML and IoT, to evaluates factors like supplier
value chains, we focus on connect stakeholders on a financial stability, compliance and
sustainable growth in Revenue unified platform. This multi- market reputation.
and Profitability. These strategies dimensional workflow enhances
are supported by ambitious 3 to logistics execution, from Deepak's Supplier Code of
4-year investment plans aimed at service procurement to in- Conduct reinforces its standards
enhancing our capabilities across transit monitoring and delivery in areas like labour rights, health
various domains. confirmation. Such an approach and safety, environmental
optimises logistics flows, allowing practices and integrity. This
During FY 2023-24, we initiated us to meet customer demands code mandates adherence to
several proactive measures, effectively while enhancing sustainability principles and
including the establishment visibility and collaboration. outlines expectations for our
of secure, long-term supply suppliers. In FY 2023-24, we
arrangements. Through strategic Key priorities include local collaborated with over 3,000
sourcing and streamlined sourcing to reduce environmental suppliers and assessed
contract negotiations, we impacts and increasing the share 38 vendors on ESG parameters,
minimise inventory and logistical of sustainable procurement. striving to become a “Global
costs using advanced software, Guided by the Sustainable Strategic Partner of Choice".
addressing socio economic Procurement Policy, our
challenges while maintaining a operations embed environmental
Percentage of the procurement budget used for significant locations 72.83%

of operation that is spent on suppliers local to that operation (such as
percentage of products and services purchased locally)
Significant Locations of Operations Nandesari / Dahej / Roha /
Taloja / Hyderabad
Number of suppliers assessed for social and environmental impacts 38
Location of Suppliers assessed for social and environmental impacts India
Type of suppliers assessed for social and environmental impacts Raw Material/ Packaging
Material Suppliers
Number of suppliers identified as having significant actual and potential None
negative social and environmental impacts
Suppliers identified as having significant actual and potential negative None
social and environmental impacts with which improvements were agreed
upon as a result of assessment
Suppliers identified as having significant actual and potential negative None
social and environmental impacts with which relationships were
terminated as a result of assessment

Our Key Non-Renewable Raw Materials

Soda Ash Cumene
Toluene Strong Nitric Acid
Sulphur Dioxide Ortho Xylene
Dimethyl Sulphate Meta Xylene
Caustic Soda Lye Concentrated Nitric Acid
Benzotriflouride Sulfuric Acid
Acetaldehyde Oxime(100%)

Environmental
Responsibility


Being an environmentally manufacturing plants located At DNL, 100% of the total
conscious entity, we maintain in Gujarat, Maharashtra and wastewater generated across
our dedication to make sure our Telangana, we source water from all our manufacturing locations
operations do not negatively third-party suppliers, primarily undergoes comprehensive
impact the accessibility and State Industrial Development treatment in our fully equipped
quality of water resources. We are Corporations (SIDC). During the Effluent Treatment Plant (ETP)
committed to responsible water reporting period, 1,352 ML water using the latest technologies to
management, ensuring that our was consumed at DNL which is improve the water quality and meet
water withdrawal, consumption utilised in production processing, discharge norms before being sent
and discharge practices align with boiler, domestic needs and cooling. to a third party for final disposal
environmental sustainability and Through our continuous efforts in via a Common Effluent Treatment
operational efficiency. In our efforts water recycling, we reduced our Plant (CETP). The treatment
to maintain a balance between water withdrawal by approximately process involves all levels of
industrial needs and environmental 4% compared to FY 2022-23. treatment- primary, secondary
sustainability, we follow stringent Furthermore, at DPL, 2,026 ML and tertiary. The primary treatment
water management practices. of water was withdrawn through includes treating wastewater
Gujarat Industrial Development from unit operations such as bar
We rigorously monitor and optimise Corporation (GIDC). This water was screens, oil and grease separation,
our water consumption to minimise used for production, cooling towers coagulation and flocculation
environmental footprint. At our and greenbelt development. and lamella settlers, achieving
an efficiency of 25-30%. For
secondary treatment, we employ
cutting-edge Activated Sludge
Process (ASP) and Membrane
Bio Reactor (MBR) technologies,
which deliver an 80-90% efficiency
in treating wastewater to meet
regulatory standards.
To further enhance water

reuse, we have set up Ultra-
Filtration (UF), Reverse Osmosis
(RO), Mechanical Vapour Re-
compression (MVR) System and
Multi-Effect Evaporator (MEE)
System. Post MBR treatment,
effluent is passed through UF
and the filtered output is then
treated in RO, with a recovery rate
Total Water Total Water Total Water of 80-85%. The RO permeate is
Withdrawal Discharge Consumption reused in production processes
1,352 ML 597 ML 755 ML and cooling towers as makeup
At DNL At DNL At DNL water, while 15-20% of the reject
water is sent for further treatment
2,267 ML 241 ML 2,026 ML in the MVR. MVR operates at an
At DPL At DPL At DPL efficiency of 95-98%, with the pure

condensate being reused again in treatment in the Effluent Treatment of the receiving waterbody is
the production process. Salts and Plant (ETP). Following in-house carefully considered when setting
other residues from MVR are safely treatment, the treated wastewater these standards, considering
disposed of at a secured landfill. is sent to GIDC pumping station factors such as water quality,
and subsequently discharged into aquatic life support and local
This integrated system is designed deep sea. ecosystem health to minimise
to maximise water reuse while adverse environmental impacts.
ensuring compliance with We are is committed to managing At Deepak we adhere strictly
statutory environmental norms. water discharge impact, aligning to government standards for
The quality of treated wastewater with environmental sustainability water quality, specifically the
is continuously monitored through and regulatory compliance. In standards set for the organic
an Online Continuous Effluent locations where specific local chemical manufacturing industry
Monitoring System (OCEMS), discharge requirements are absent, by the Central Pollution Control
analysed internally on a daily we establish minimum effluent Board (CPCB). There is no direct
basis and validated monthly by an discharge standards, based on discharge of wastewater into any
independent third party. Similarly, best practices and environmental waterbody.
at DPL, wastewater undergoes sustainability principles. The profile
Water Treatment Process at DNL
Collection of Wastewater Primary Secondary Tertiary

from various operations Treatment Treatment Treatment
Final Disposal Effluent Transfer to respective Quality Monitoring of the

of the effluent SIDC Common Effluent Treatment treated effluent through
accroding to Plants (CETP) for additional Online Continuous Effluent
SPCB standards treatment Monitoring System

We employ a comprehensive 2, operates as a Zero-Liquid stakeholder consultations and

approach in identifying and Discharge (ZLD) plant, recycling regulatory compliance frameworks
mitigating water-related impact treated wastewater for use in to accurately identify and assess
across all our operations. production and gardening. The water-related impacts. We ensure
Through scenario analysis, we other two units have installed that these assessments are
identify water risks and stress in-house Effluent Treatment thorough and continuously refined
regions, which are integral for Plants (ETP), where wastewater is to uphold our commitment to
developing our water strategy. treated. Subsequent to treatment, sustainable water management
Our manufacturing plants in the treated water from production and environmental protection.
Nandesari, Dahej and Hyderabad process is sent to another unit for
are situated in high-risk water- further treatment and domestic Besides our focus on meticulous
stressed regions, where water wastewater is discharged to monitoring of water consumption
scarcity poses significant GIDC pumping station for final and implementing effective
challenges. The water sourced discharge into deep sea. water management practices at
at these sites from third party our manufacturing plants, we
suppliers amounted to 1,155 ML At Deepak Environmental Impact are working towards achieving
at DNL and 2,267 ML at DPL in FY Assessments are conducted prior Zero-Liquid Discharge (ZLD) for
2023-24, which has been almost to major projects to evaluate all our facilities and becoming
the same amount as compared to their potential effects on the water neutral in the future. We
previous financial period. At these environment, including water have undertaken the following
sites, the total water consumed resources. These assessments are measures to ensure efficient water
was 617 ML and 2,026 ML at DNL updated periodically as needed, management:
and DPL, respectively. incorporating data analysis,
To address water scarcity

Installed Multi Effect Evaporator (MEE) followed by
and efficiently manage water
Reverse Osmosis (RO) to recover condensate water at
consumption at these sites, DNL
our plant in Dahej.
has implemented advanced
water management strategies.
Technologies such as Ultra
Established Reverse Osmosis System to recover
Filtration (UF), Reverse Osmosis
more effluent stream at our plants in Dahej, Taloja and
(RO), Mechanical Vapor Re-
Hyderabad.
compression (MVR) System and
Multi-Effect Evaporator (MEE)
System have been installed Installed Mechanical Vapour Re-compression (MVR)
to optimise water reuse and System at our Nandesari and Roha plant to increase our
recycling. Additionally, one of water recycling capacity and to recover organic material.
our three Hyderabad units, Unit

Installation of High-Temperature
Reverse Osmosis (RO) Plant
At our Hyderabad unit of DNL, the Zero Liquid Discharge (ZLD)
system has been a fundamental component of our environmental
management practices. During reporting period, we upgraded this
system by integrating a specialised membrane Reverse Osmosis
(RO) plant, designed to operate efficiently at higher temperatures.
The RO permeate is directly utilised as boiler feed, eliminating the
need for additional heating prior to entering the boiler, thereby
improving operational efficiency.
Utilization of membrane processes consumes less energy,

reduces operational energy demand and significantly lowers
greenhouse gas emissions, resulting in a smaller carbon
footprint.
Installation of Mechanical Vapor

Re-compression (MVR) System
As part of our ongoing efforts to reduce, recycle and reuse
water, we have implemented advanced technologies such as the
Mechanical Vapor Re-compression (MVR) system. This system
provides multiple benefits, including a compact design, reduced
reliance on external heat sources and low operational and
maintenance costs.
Previously, wastewater treated via hydro cavitation process was

sent to the Common Effluent Treatment Plant (CETP) for disposal.
The MVR system now operates as a closed-loop circuit, treating
effluent and recycling the treated water back into the production
process. This significantly reduces our reliance on external water
sources.
95%-98%
Reduction in water withdrawal with the installation of the
MVR system, allowing for water reuse in processes such as
cooling.

Key Water Conservation Initiatives
Initiative Impact
Initiatives taken at Nandesari plant: Annual Cost Saving for the initiatives
• 14 Kiloliters Per Day (KLD) of water is recycled in M- Xylene taken at Nandesari plant:
stream. • ₹ 6.31 Lakhs
• 12 KLD water is reused from Mechanical Vapor • ₹ 3.15 Lakhs
Re-compression (MVR) System. • ₹ 7.87 Lakhs
• 30 KLD capacity Reverse Osmosis (RO) plant installed that • ₹ 37.54 Lakhs
recycles water.
• 72 KLD of effluent recycled, reducing water
consumption with a Zero Liquid Discharge (ZLD)
solution. The process requires no external heat
source, no heat rejection unit and minimal electric power, while
achieving 99% effluent recycling and high-quality output.
Initiatives taken at Dahej plant: Annual Cost Saving for the initiatives
• 182 KLD of water recycled using Multi-Effect Evaporation (MEE) taken at Dahej plant:
condensate processed through RO plant. • ₹ 43.31 Lakhs
Initiatives taken at Roha plant: Annual Cost Saving for the initiatives
• 112 KLD of water recycled from Mechanical Vapor Re- taken at Roha plant:
compression (MVR) System and RO system. • ₹ 28.22 Lakhs
Initiatives taken at Taloja plant: Annual Cost Saving for the initiatives
• 12 KLD of water recycled from RO. Currently, 8 KLD water is taken at Taloja plant:
being recycled based on the present feed rate. • ₹ 1 Lakhs
• ₹ 0.15 Lakhs
• Rainwater harvesting for FY 2023-24 yielded 2,000 KL of water.
Initiatives taken at Hyderabad plant: Annual Cost Saving for the initiatives
• 218 KLD of water recycled to the boiler from MEE and RO taken at Hyderabad plant:
systems. • ₹ 198 Lakhs
Water Treated Steam ETP Biomass

Reduction in Effluent Reuse: Condensate Utilization: The
Cooling Tower Approximately Recovery: 3,400 biomass from the
Blowdown: 50% of the KLD of steam Effluent Treatment
Achieved a 25% treated effluent condensate is Plant (ETP) will
reduction in or 1,000 KLD, recovered and contribute 0.5%
cooling tower is reused after utilised in the of the total coal
blowdown, undergoing Combined Power feed, resulting
resulting in a Reverse Osmosis Plant (CPP) and in a savings of 4
total saving of (RO) treatment. boilers, out of MT of coal and
200 m³ per day. a total of 4,100 a reduction in
KLD. treatment costs.

Waste Management
The chemical industry plays a wastes are generated as part At our manufacturing plants,
vital role in the global economy, of daily operations across these non-hazardous waste includes a
producing a wide range of essential facilities. variety of waste materials, such as
products that enhance the quality food, paper, construction debris,
of life. However, this sector is To ensure effective waste metal and wood. We implement
also associated with significant management at our manufacturing a systematic approach to waste
waste generation, which can pose facilities, we implement systematic separation, distinguishing between
serious environmental risks if not practices tailored to suit our wet and dry food waste. The wet
managed responsibly. We recognise operations. Waste generated from waste is processed using an in-
the significance of efficient waste various processes is collected house organic waste converter,
management and are committed and segregated into hazardous transforming it into valuable
to minimise our environmental and non-hazardous waste type. manure, while the dry waste
impact through efficient resource Hazardous waste is stored in is forwarded to the municipal
utilisation and responsible handling designated areas that are clearly corporation for proper disposal.
of both hazardous and non- labeled, adhering to stringent
hazardous waste while complying safety protocols and regulatory Additionally, other non-hazardous
with all applicable regulations. compliance. wastes including paper, metal and
wood are collected and stored in
Our manufacturing facilities, ETPs, We maintain comprehensive a designated scrap value yard.
production units and support records of both waste generation These wastes are then sent to
departments generate a diverse and disposal, ensuring external vendors for responsible
range of waste. At DNL, the types transparency and accountability disposal or recycling, ensuring
of waste produced include ETP in our operations. Prior to the minimal environmental impact.
sludge, spent carbon, process transfer of hazardous waste, an Our comprehensive waste
residues, oils, salts, electronic internal hazardous waste transfer management strategies are aimed
waste, biomedical waste and food slip is filled to document the at reducing waste and adopting
waste. These waste streams reflect process. Regular inspections of measures for recycling and
the complexity and diversity of the hazardous waste storage areas resource efficiency.
industrial processes involved in are conducted to uphold safety
chemical production. standards and transportation
vehicles are organized for safe
At DPL, the primary waste delivery to designated disposal
categories include ETP sludge, sites. This entire process is closely
insulation waste and spent monitored, ensuring that waste is
adsorbents, in addition to other properly disposed, highlighting our
specific waste streams related efforts towards responsible waste
to production activities. Both management.
hazardous and non-hazardous

Hazardous Waste Non-Hazardous Waste
Total Waste Generation Total Waste Generation

1,07,862 MT 15,236 MT
462 MT 150 MT
Total Waste diverted from disposal Total Waste diverted from disposal
94,252 MT 15,236 MT
314 MT 150 MT
Total Waste directed to disposal Total Waste directed to disposal

13,609 MT 0 MT
173 MT 0 MT
DNL DPL DNL DPL
Our operations mostly generate hazardous waste due to the nature of our chemical processes. However, we
are committed to minimise waste generation through Research and Development (R&D) and technological
advancements that align with sustainability principles.
Key Waste Reduction Initiatives
At Dahej plant, 123 MT At Hyderabad plant, we At Hyderabad plant, At Roha plant, 50 MT of

of process residue was are currently sending we sent 12,618 MT of 10% ammonia solution
sent to co-processing spent sulfuric acid for process sludge and is recovered and reused
facility to use as co-processing. This spent acid to a co- in the process each
Alternate Fuel Resource along with Iron coming processing facility, month. This initiative has
(AFR). This has led to out of process can resulting in a cost resulted in significant
annual cost saving now be utilized in the reduction of ₹ 0.20 cost savings and a
of ₹ 6.76 Lakhs while production of value per kg for spent acid. reduction in waste.
efficiently managing added products. This initiative led to an
waste through co- annual cost saving of
processing. ₹ 25.24 Lakhs.

Installation of Sulphuric Acid Concentration (SAC) Plant

The SAC system is designed to recover and reuse spent sulfuric acid generated during
nitration processes which is recycled back into the same process. This initiative significantly reduces
the disposal of spent sulfuric acid as well as the need for fresh acid in the nitration process. As a result,
it promotes a more sustainable nitration of Toluene by utilising an environmentally friendly approach.
Wealth from Waste

At many of our plants, we are recovering high value raw material and chemicals from various waste
streams making the processes environmentally sustainable and in the process, helping in cost
optimisation.
Enhancing ETP Efficiency through TRL

The primary waste generated at our DPL facility is ETP sludge. To enhance waste management, we
are in the process of implementing a TRL project, which uses evaporation as a pre-treatment for
wastewater before it reaches the ETP. This approach will improve the efficiency of the ETP, particularly
in secondary treatment, while reducing the volume of wastewater processed and, consequently, the
amount of ETP sludge generated.


The chemical sector plays a pivotal overall plant performance and energy-efficient technologies at our
role in the global economy; however, supporting our commitment to manufacturing facilities. Meanwhile,
it is also a significant contributor to environmental sustainability. emissions at DPL remained relatively
Greenhouse Gas (GHG) emissions. stable during the same period. For
At Deepak we recognise our role In our Scope 1 emissions inventory, Scope 2 GHG emissions, we report
in managing our emissions for we account for emissions resulting emissions associated with electricity
minimising the environmental from the combustion of various purchases at both DNL and DPL. In
impact of operations. Our emission fuels utilised in our production FY 2023-24, Scope 2 emissions at
management strategies are processes, including Diesel, Furnace DNL increased by 10%, while DPL
designed to control and reduce Oil, Coal, High-Speed Diesel (HSD), experienced a significant reduction
GHG emissions, both direct Liquefied Petroleum Gas (LPG), of 31%.
and indirect, across the entire Biomass, Saw Dust, Low Sulfur
value chain. We work towards Heavy Stock (LSHS) and Natural For Scope 3 emissions, we have
improvements in plant energy Gas. Additionally, we consider meticulously reported the emissions
efficiency by integrating advanced, emissions from mobile combustion under relevant categories for
energy-efficient equipment and in our Scope 1 calculations. Notably, DNL and DPL, ensuring a thorough
technology. These upgrades DNL achieved a commendable 15% assessment of our indirect GHG
are designed to lower energy reduction in Scope 1 emissions impact across the value chain.
consumption and Greenhouse from FY 2022-23 to FY 2023-24,
Gas emissions, thereby enhancing driven by the implementation of
Scope 3 categories considered for DNL
Category 1: Category 2: Category 3: Category 4:

Purchased goods Capital goods Upstream Downstream
and services transportation and transportation and
distribution distribution

Waste generated in Business travel Employee Upstream leased
operations commuting assets
Scope 3 categories considered for DPL

Purchased goods Capital goods Upstream Downstream
and services transportation and transportation and
distribution distribution
Category 5: Category 6: Category 7:

Waste generated in Business travel Employee
operations commuting

Greenhouse Gas (GHG) Emissions Scope 2 emissions at 12,670 tCO₂e and Scope 3
DNL's GHG emissions for FY 2023-24 amounted to emissions at 4,56,454 tCO₂e.
5,39,810 tCO₂e, marking a reduction from the previous
year’s 6,99,401 tCO₂e. This includes Scope 1 emissions Air Emissions
(direct emissions from owned or controlled sources) at DNL reported reductions in air pollutants, with NOx
1,17,226 tCO₂e, Scope 2 emissions (indirect emissions emissions at 427 MT, SOx at 300 MT and particulate
from purchased electricity) at 93,029 tCO₂e and matter (PM) at 65 MT for FY 2023-24. VOC emissions
Scope 3 emissions (other indirect emissions, such as were not reported. DPL also achieved reductions, with
transportation and supply chain) at 3,29,555 tCO₂e. NOx at 87 MT, SOx at 59 MT and PM at 50 MT.
For DPL, total GHG emissions stood at 8,76,656 tCO₂e These figures reflect focused operational efficiencies and
in FY 2023-24, down from 9,19,440 tCO₂e in FY 2022- improved environmental controls across both entities,
23. This includes Scope 1 emissions at 4,07,532 tCO₂e, contributing to reduced environmental impact.
In FY 2023-24, DNL reported a GHG At Deepak, our operations result in

emission intensity of 2.25 tCO2e/ emissions such as Sulphur Oxides 2.25 tCO2e/MT
MT, while DPL registered 0.86 (SOx), Nitrogen Oxides (NOx) and GHG Emission Intensity
tCO2e/MT per unit of production. Particulate Matter (PM). These are in terms of production
We adopt a holistic approach to rigorously monitored to ensure they output at DNL
managing air emissions, addressing stay well below prescribed limits,
not only greenhouse gases but demonstrating our commitment to
also other pollutants generated by meeting national and local regulatory 0.86 tCO2e/MT
our operations. Maintaining high air requirements. GHG Emission Intensity
quality standards within and around in terms of production
our facilities remains a top priority. output at DPL
In our approach to reduce emissions, we have undertaken various initiatives at Deepak focused at achieving
environmental sustainability as well as cost saving.
01 02 03
To control SOx emissions To address process emissions, We installed a 20 TPH multi-fuel
from the boiler stack, we have we are designing and boiler that uses bagasse, husk,
implemented the addition of incorporating an effective agro-waste and coal, with the
limestone to coal, effectively scrubber system. This measure aim of reducing Scope 1 GHG
reducing SOx emissions in aims to improve the air quality emissions.
compliance with new standards. in the workplace by significantly
This initiative has led to a reducing harmful process
significant reduction in SOx emissions.
emissions from the boiler
stack, contributing to a cleaner
environment.


Energy Management
Being a chemical company, we Energy Consumption green energy integration.
recognise the critical role energy DNL recorded a total energy DPL maintained a robust energy
plays in our operations. We consumption of 21,07,194 GJ in FY profile with a total consumption of
are focused on enhancing our 2023-24, up from 19,42,691 GJ in 50,77,549 GJ, slightly higher than
plant’s energy efficiency through FY 2022-23. This increase reflects the previous year’s 50,70,596 GJ.
continuously upgrading our facilities the company's growing operational Non-renewable sources contributed
with state-of-the-art energy- scale and production capacity. 41,98,482 GJ, while renewable
efficient equipment and technology. Non-renewable energy consumption energy usage showed a notable
Through innovation, we strive to reached 13,91,230 GJ, while indirect rise to 44,278 GJ. Indirect energy
minimise our energy footprint while energy consumption via purchased consumption also increased slightly,
maintaining operational excellence. electricity stood at 7,15,940 GJ. reaching 8,34,789 GJ, demonstrating
Renewable energy utilization was a reliable and consistent energy
Our energy consumption strategy recorded at 24 GJ, highlighting strategy to support operations.
incorporates a diverse blend of potential areas for future growth in
non-renewable and renewable
energy sources to meet our
operational needs while aligning 8.80 tCO2e/MT 5.00 tCO2e/MT
with sustainability goals. The non- Energy Intensity in terms Energy Intensity in terms
renewable energy is sourced from of production output at of production output at
fuels utilised in our production DNL DPL
processes and electricity procured
from the grid. The non-renewable
fuel consumption at DNL includes At DNL, we have made remarkable successfully improved energy
a variety of sources such as High- strides in enhancing energy intensity. This indicates a strategic
Speed Diesel (HSD), petrol, saw efficiency, achieving 160% increase focus on optimising energy use and
dust, Furnace Oil (FO), Low Sulphur in renewable energy consumption minimising waste, ensuring that
Heavy Stock (LSHS), Natural Gas through integrating cleaner energy we operate more sustainably while
(NG), biomass and coal. At DPL, our sources into our operations. meeting the growing demands
non-renewable energy consumption Additionally, DNL is set to increase of our production processes.
consists of HSD, Liquefied Petroleum its renewable energy consumption Our ongoing efforts in energy
Gas (LPG), NG and coal. by integrating hybrid power plants management reflect our dedication
of 3.75 MVA at Roha plant and 10 to balance operational efficiency
In contrast to our reliance on non- MVA at Nandesari plant. At DPL, we with environmental responsibility.
renewable sources, our renewable have made significant progress in We have adopted various initiatives
energy portfolio plays a crucial role adopting renewable energy sources. at our plants for achieving energy
in our sustainability efforts. At DNL, During the reporting period, we efficiency through energy saving.
we have established solar plants, integrated solar energy into our
which contribute significantly to operations, resulting in substantial In FY 2023-24, our energy intensity
our energy needs, while at DPL, increase in renewable energy at DNL was 8.80 tCO2e/MT (energy
both solar plants and biomass are consumption. per unit produced) and 7.73 X 10-5
incorporated into our renewable tCO2e/INR (energy per sales). At DPL,
energy strategy. This dual approach Despite the overall rise in non- the energy intensity was measured
allows us to harness natural renewable energy consumption at 5.00 tCO2e/MT (energy per unit
resources effectively and reduce our at DNL by 8% due to expanded produced) and 1.01 X 10-4 tCO2e/INR
carbon footprint. production capacity, we have (energy per sales).

Energy efficiency initiatives

Initiative Impact
To enhance pump efficiency and achieve power This has led to a total power saving of 7,200 kWh per
savings. month, equating to an annual saving of ₹ 31.80 Lakhs.
Change in agitator design has led to increased This has resulted in a power savings of 2,204 kWh per
efficiency and performance. month.
Old inefficient motors have been upgraded to latest IE4 This has resulted in a power savings of 1,960 kWh per
motors. month.
Variable Frequency Drives (VFDs) have been installed The installation of a VFD in the column circulation
as a process improvement initiative. Previously, these pump has resulted in a power savings of 3,710 kWh per
pumps were operated using Star-Delta starters. month.
Old inefficient motors have been replaced by new The new motors are expected to deliver approximately
efficient motors. This initiative is aimed at achieving 6% power savings compared to the older motors,
significant power savings and enhancing operational resulting in a monthly power savings of 4,393.33 kWh.
efficiency.
As part of our approved CAPEX, we have initiated the The installation will enhance power factor correction for
manufacturing of two new 300 kVAR APFC panels. GRID power, resulting in an estimated power savings of
These panels will be installed to enhance power factor 40,000 kWh per month.
correction and improve energy efficiency.
Six existing pumps were replaced with high-efficiency These changes have led to a reduction in total power
models and agitators were modified to replace the conservation of 2,05,200 kWh with a cost savings of
older paddle and disc turbine agitators. ₹ 18.61 Lakhs, significantly lowering our overall energy
expenses.
At Roha plant of DNL, a 5.4 kW solar panel system has This has resulted in an annual net saving of ₹ 0.58
been installed that has generated 3,210 units of power. Lakhs.
At Taloja plant, Cooling Tower pumps have been This resulted in an annual net saving of ₹ 2 Lakhs.
replaced with high efficiency pumps.

Initiative Impact
At Nandesari plant, we have undertaken following These initiatives have led to significant cost saving as
initiatives for energy efficiency: well as power saving:
• Replacement of Cooling Tower (CT) Pump • Improved power consumption from 62.6 kWh to
• Replacement of chilling unit 42.7 kWh and an annual net saving of ₹ 46.89 Lakhs
achieved.
• Specific power consumption reduced from 1.63 to
1.2 kWh and an annual net saving of ₹ 22 Lakhs
achieved.
At Hyderabad plant, we replaced process CT pump This resulted in Improved power consumption from
with new efficient pump with VFD. 11 kWh to 8.8 kWh and an annual net saving of ₹ 1.09
Lakhs.
Energy efficiency initiatives
Initiative Impact
Improving usage of Smart PO This initiative resulted in increase of 12% Y-o-Y power
savings.
Energy Index reduced to 1.91 mmkcal/MT from Achieved cost saving along with operational
2.04 mmkcal/MT. efficiency.
Implementation of Advanced Process Control This initiative led to ~1 to 10% reduction in specific
(APC) in Cumene and Phenol plant consumption of utilities and chemicals, >625 MT/
year reduction in CO2 emission, ~50% reduction
in vent losses, ~2 to 3.50% increase in production
throughput.
Conveying system installed to use higher quantities Quantity of biomass used in boilers increased from
of biomass in boilers 30 tons per day (tpd) to 100 tpd.

Biodiversity
Acknowledging the rapid global take comprehensive measures large-scale tree plantation drive in
decline in biodiversity, we to safeguard and preserve Village Shelavali, Shahapur Taluka,
have taken strategic measures biodiversity. In FY 2023-24, we Thane District, Maharashtra and
aimed at protecting and conducted EIA for two projects for in village Damapura, Nandesari,
enhancing biodiversity within DNL: District Vadodara in Gujarat.
our manufacturing facilities and 1. The expansion of a This initiative has resulted in
the surrounding ecosystems. manufacturing facility at Roha, the planting of over 55,000
We actively collaborate with Maharashtra. native trees, yielding numerous
internal and external stakeholders 2. An amendment in existing environmental benefits. These
to promote environmental Environment Clearance for include carbon offsetting,
sustainability while also Synthetic Organic Chemicals biodiversity preservation,
empowering local communities. Manufacturing at Nandesari, enhanced air quality, prevention
Gujarat of soil erosion and improved water
Prior to any construction project, management. Additionally, this
we conduct Environmental Impact Notably, none of our operations tree plantation drive supports
Assessment (EIA) to evaluate the at DNL and DPL are located in broader afforestation efforts
potential impacts of our projects areas of high biodiversity value. while simultaneously creating
on the surrounding environment. In partnership with the Forest employment opportunities for local
These assessments allow us to Department, DNL has undertaken a communities.

People and
Social Strategy

Diversity, Equity and Inclusion

At Deepak we integrate diversity, equity and inclusion environment. By actively monitoring and analysing
(DEI) into the core of our corporate values. We recognise our employee demographics—across race, gender
that fostering a diverse workforce is essential for driving and age—we reinforce our commitment to maintain a
innovation and cultivating a dynamic, supportive work representative and inclusive workplace.
Workforce Composition
Total Workforce Breakdown for FY 2023-24
Age Group
<30 30-50 >50
Male Female Male Female Male Female
1,613 58 1,566 32 799 2
Total Workforce Breakdown for FY 2023-24
Age Group
<30 30-50 >50
180 23 223 13 35 0
At DNL, we hired 2,304 contractual workers for At DPL, we manage a total of 56 contractual workers
services like housekeeping, gardening, security, including those on third party payroll, retainers and
maintenance and operational support. We track their apprentice trainees. These workers are engaged
work hours and data using the Access Control System through third party agencies and contribute to various
and report absences, mainly during festivals. support roles.

Commitment to a Diverse Workforce

We view our employees as vital to a diverse and inclusive workplace prepare our team for evolving
achieve our organisational goals that prioritises employee well- business demands and
and overall success. Our people- being. We invest in continuous competitive challenges.
first approach emphasises creating learning and development to
Zero Incidents of Discrimination

We uphold a discrimination-free workplace. During the reporting period, we recorded zero incident of
discrimination and did not encounter any situation requiring review, remediation or internal management
action.
As no incident was reported, there is no case under review or requiring remediation.
We remain dedicated in maintaining a workplace free from sexual harassment. To address complaints, we
have established an "Internal Committee" at each location, with details communicated to all employees.
Sexual harassment can occur in various forms, including between co-workers or between employees and
external contacts. We do not tolerate any sexual advances, comments, jokes or conduct that creates a
sexually offensive or intimidating environment.
For more information on our DEI policies, please refer to our Policy on Diversity, Equal Opportunity and Freedom
of Association and Code of Conduct for Employees.
Our DEI Initiatives for FY 2023-24:
Brand Image and Communication

• Presented ourselves as an equal opportunity employer in all recruitment communications.
• Highlighted Deepak as an Equal Opportunity Employer (EOE) in our corporate messaging.
Culture Building and Awareness

• Conducted monthly meetings with leadership and Strategic Business Unit (SBU) heads to ensure
high-level DEI commitment.
• Established Employee Resource Groups (ERGs) and conducted Focus Group Discussions (FGDs) to
pursue inclusive DEI goals.
Ecosystem
• Implemented a DEI Policy.
• Formed a DEI Council, led by top leaders and directors, to oversee DEI initiatives.
• Maintained career progression plans from 'hire to retire' to support DEI objectives.
Administration and Infrastructure

• Identified and are addressing infrastructure improvements to enhance accessibility for our diverse
workforce.
DEI Cross-Functional Team

• Established a Cross-Functional DEI team with representatives from various functions to evaluate DEI
status and provide actionable recommendations as and when required.

Hiring Practices across various levels. Recruitment and middle management. We

Our hiring practices focus on plan was designed to hire best also employed a flexible hiring
attracting and retaining top talent at the same time balancing strategy, utilising contract workers
talent through a fair and inclusive fresh talent with experienced and temporary staff to meet
recruitment process. As an Equal professionals and also ensuring operational needs while building a
Opportunity Employer (EOE), leadership stability. talent pipeline.
we are dedicated to workforce
diversity, bringing in diverse While we made progress in hiring We remain committed in
perspectives and skills to drive our female employees, particularly enhancing diversity and inclusion
success. at the associate and senior across our workforce and these
management levels, gender practices will continue to guide
During FY 2023-24, we diversity remains an area for our efforts moving forward.
strengthened our workforce improvement, especially in top


Total Employees Hired
Category No. of Employees Hired from 1 Apr 2023 - 31 Mar 2024

Age Group
<30 30-50 >50
Permanent Workforce
Top management 0 0 0 0 1 0
Senior management 0 0 3 0 2 0
Middle management 0 0 18 0 3 0
Associates 126 10 46 2 1 0
Total 126 10 67 2 7 0
Total Employees Hired
Category No. of Employees Hired from 1 Apr 2023 - 31 Mar 2024

Age Group
<30 30-50 >50
Permanent Workforce
Top management 0 0 0 0 0 0
Senior management 0 0 0 0 0 0
Middle management 0 0 5 0 0 0
Associates 67 9 22 2 2 0
Total 67 9 27 2 2 0
Pay Equity and Transparency

We are committed to the employees are compensated fairly enabling employees to understand
promotion of pay equity and based on their role, experience how their pay is determined,
transparency as fundamental and performance. Transparency reinforcing our commitment to a
principles in our organisation. in our remuneration practices fair and inclusive workplace.
By ensuring fair and equitable fosters trust and accountability,
remuneration practices, we
strive to eliminate disparities and Ratio of basic salary and remuneration of women to men
promote a culture of equality.
Our approach involves rigorous DNL DPL
analysis and monitoring of pay
0.88 1.00
structures to ensure that all

Employee Engagement
We recognise that motivated employees are essential to our success. To strengthen the bond between our
employees and us we focus on regular employee engagement programs and targeted actions to boost
engagement levels.
Employee Engagement Initiatives for FY 2023-24:
"Coffee Townhall Action Plan Based Improvement of Performance

with CEO" on Employee EES Score Management
Engagement System (PMS):
Survey (EES)
Facilitated informal Hosted DEI Developed and Actively working Strengthened the
interactions townhalls at all initiated an action to improve the PMS to improve
between employees locations for direct plan to address EES score and objectivity and
communication
and leadership findings from the regularly monitoring transparency
between the CEO,
to foster open Board Members and EES and enhance employee in performance
communication and employees. future engagement engagement evaluations.
engagement. practices. practices.
Through these initiatives, we strive to create a motivated and engaged workforce, achieving an Employee
Engagement Score of 68 for the year.
Training and Development

We prioritise the continuous growth and development leadership training and skills development, to support
of our employees by investing in their skills and personal and professional growth. Our programs
career advancement. Our training and development cover various needs, such as technical, functional,
programs reflect this commitment, contributing health and safety, compliance and behavioural skills,
to both individual and organisational success. We ensuring that employees are well-equipped to excel
provide a range of initiatives, including mentoring, in their roles and drive career progression.
Deepak Nitrite Limited Deepak Phenolics Limited
3,729 4,092
(12%) (22%)
Other
Other Training
Training
except EHS
except EHS
and HR
and HR
21,014
10,922
6,009 (68%) 3,651
EHS Training (58%)
(20%) (20%) EHS Training
HR Training HR Training

Training Initiatives
Technical and Health and Safety Compliance Behavioural Special Skills

Functional Skills Trainings Trainings Trainings Upgradation
Trainings
We partner with We ensure all Our compliance We collaborate with We offer specialised
institutions like employees are training programs Welingkar and S.P. training for skill
Team Lease Skills equipped with the are designed to Jain University enhancement
University, UPL necessary health keep employees for leadership and tailored to employee
University and and safety skills. updated on behavioural skill needs.
GSFC University for regulatory development.
technical training. standards.
Targeted Programs
Training Training Mandatory and

Programs Formats Compliance Training
We offer specialised Functional, Our training approaches We ensure that all mandatory
Behavioural and Health, Safety, include Classroom Sessions, and compliance-related
Environment and Fire (HSEF) External Training and training programs are in place
training tailored to our industry Experiential Learning, which to meet industry standards
requirements. These programs are customised to align with and regulatory requirements,
are designed to address both the specific needs of our thereby supporting our
the technical and soft skills operations and workforce. commitment to safety and
essential for success within quality.
Deepak.

Transition Assistance Programs

We offer Transition Assistance Programs, including our sessions are offered as part of our succession
Higher Education Scheme, to support employees in planning strategy to facilitate career transitions and
advancing their careers and managing transitions due ensure continued employability.
to retirement or employment changes.
These initiatives cover all work areas ensuring that
We also provide training on provident fund (PF), every aspect of our operations is addressed through
insurance, tax benefits and investments throughout targeted training sessions throughout the year.
the employee lifecycle. Pre-retirement planning

Performance Appraisals*
Performance appraisals are integral to our talent management strategy. We conduct regular evaluations to
provide constructive feedback and set clear objectives that align individual performance with organisational
goals.

Percentage of total employees by gender and by employee category who received a regular performance and
career development review during the reporting period:
Management Level Male Female

Senior Management 97% 100%
Middle Management 91% 100%
Junior Management 92% 74%
*Percentage of employees eligible for performance appraisal relative to the total number of employees at the management level.

Percentage of total employees by gender and by employee category who received a regular performance and
career development review during the reporting period:
Management Level Male Female

Senior Management 95% 100%
Middle Management 89% -
Junior Management 79% 62%
*Percentage of employees eligible for performance appraisal relative to the total number of employees at the management level.

Employee Benefits
We provide a robust benefits protect them against unforeseen We have also implemented a
package designed to support circumstances. Parental leave 'Higher Education Policy' to
our employees throughout their is available to senior, middle support employees pursuing
careers. Our comprehensive and junior management staff, higher education through financial
offerings include health care demonstrating our commitment assistance and study leave.
coverage for all employees, to support work-life balance. Additionally, we have a death
ensuring access to quality Additionally, we provide retirement in harness policy to protect our
medical services. We also offer benefits to enhance employee employees and their families in
disability and invalidity benefits to well-being and long-term security. unfortunate circumstances.
Benefits Employment Category

Senior Middle Junior
Management Management Management
Life insurance   
Health care   
Disability and invalidity coverage   
Parental leave   
Retirement provision   
Turnover and Operational Changes

We are committed to transparent information is communicated We prioritise employee retention
communication and fair through appointment letters, and are actively working to
treatment of our employees. We broad consultations and minimise attrition, particularly
provide a minimum two-week management circulars. For among contract workers. By
notice period to employees and bargaining employees, notice is fostering a supportive work
their representatives before provided through appointment environment and promoting long-
implementing significant letters, certified standing orders term career growth, we aim to
operational changes that could and collective bargaining create a sense of belonging and
substantially impact them. For agreements. job satisfaction for all employees.
non-bargaining employees, this

Parental Leave Statistics

Balancing work and family comprehensive parental leave progression. This approach
responsibilities is crucial to processes. These processes are highlights our dedication to
our employees' well-being. We designed to offer flexibility and fostering an inclusive, supportive
demonstrate our commitment security, allowing employees to work environment that values
in supporting them during care for their families without professional growth and personal
significant life transitions through compromising their career well-being.
Number of Number of Number of Number of Return to work

employees employees that employees who employees who and retention
entitled to took parental returned to work returned to work rates of
parental leave leave after parental after parental employees that
leave ended leave ended took parental
who were still leave
employed 12
months after their
return to work
Male Female Male Female Male Female Male Female Male Female
1457 46 11 2 11 1 11 1 100% 50%
Number of Number of Number of Number of Return to work

employees employees that employees who employees who and retention
entitled to took parental returned to work returned to work rates of
parental leave leave after parental after parental employees that
leave ended leave ended took parental
who were still leave
employed 12
months after their
return to work
Male Female Male Female Male Female Male Female Male Female
385 27 19 1 19 1 19 1 100% 100%



Implementation of Occupational Health and Safety Management System (OHSMS)
At DNL, we have implemented contractors, subcontractors or work-related injuries and ill health.
a comprehensive Occupational temporary staff. It covers all workers, including
Health and Safety Management regular, temporary and contractual
System (OHSMS) to ensure the Our OHSMS adheres to recognised subcontractors involved in any
safety and well-being of all international standards, including activities. There are no exclusions;
individuals performing work under ISO 45001:2018. This framework every worker is included under our
our control. This system applies provides a structured approach OHSMS. Our OHSMS includes the
to both our direct employees and to manage occupational health following key elements:
non-employee workers, such as and safety risks and prevent
Risk Assessment and Training Health and

Management and Awareness Safety Policies
We regularly identify, assess We provide continuous We have clearly defined
and control workplace training programs for all policies and procedures
hazards to prevent accidents workers to ensure they are that we communicate to
and occupational illness. well-informed about safety all workers, emphasising
protocols and emergency our commitment to a safe
procedures. working environment.
Monitoring Worker Emergency

and Reporting Participation Preparedness
We systematically We actively involve both We maintain comprehensive
monitor health and safety employees and non- emergency response plans to
performance, including employee workers in health address potential incidents
incident reporting and and safety discussions and effectively, minimising risks
investigations, to identify decision-making processes. and ensuring quick recovery.
areas for improvement.
By implementing this robust OHSMS, we demonstrate our strong commitment to protect the health and safety
of all individuals working under our supervision, fostering a safer and more productive workplace environment.
While the implementation of our OHSMS is not mandated by legal requirements, we adhere to all applicable Acts,
Rules and Responsibilities related to occupational health and safety.
Occupational Health and Safety Professionals

Our OHSMS is overseen by a team of dedicated OHS professionals with diverse expertise in health, safety and
risk management. These professionals, employed directly by us, are responsible for:
01 02 03 04
Developing and Overseeing risk Leading OHS initiatives, Liaising with senior
implementing OHS assessment processes including training, management to integrate
policies and procedures and ensuring appropriate audits and emergency OHS considerations
in line with industry control measures are in preparedness. into overall business
standards and regulatory place. strategies.
requirements.
05 06 07 08
Conducting regular site Monitoring compliance Reporting incidents Providing on-site training
inspections and hazard with safety regulations and near-misses, and guidance on safe
assessments. and internal policies. participating in work practices.
investigations and
implementing corrective
actions.
09 10 11
Assessing workplace Conducting health Advising on occupational
health risks and surveillance and wellness health legislation and
implementing programs programs. best practices.
to address occupational
health issues.
We also engage consultants for specific tasks, such as training, risk assessments, HAZOP studies and various
audits and assessments.

Continual Improvement
We achieve continual improvement of our OHSMS through a structured, iterative process that includes:
Regular Audits and Performance Feedback

Inspections Monitoring Mechanisms
We conduct periodic internal We analyse health and safety We collect feedback from
and external audits to metrics, including leading employees and stakeholders
identify gaps and areas for and lagging indicators to identify opportunities for
enhancement. and incident reports, to improvement.
track trends and measure
effectiveness.
Training and Review and Implementation of

Development Assessment Corrective Actions
We provide ongoing We conduct regular We address non-conformities
training to update skills and management reviews and implement corrective
knowledge based on the to assess the OHSMS’s actions to mitigate risks and
latest safety practices and performance and set new prevent recurrence.
regulatory requirements. objectives.
This continuous cycle of evaluation and refinement ensures our OHSMS evolves to meet emerging challenges
and enhances overall occupational health and safety performance.

Hazard Identification and Risk defined Occupational Health and participation in occupational
Assessment Safety Policy, allowing workers to health services do not influence
We identify work-related hazards report hazardous situations and workers' treatment. Health data is
and assess risks on both routine access corrective actions. handled exclusively by authorised
and non-routine bases using a professionals and is segregated
well-defined portal for reporting Incident Investigation from employment records.
and tracking closure. We review We follow a well-defined SOP Decisions are based on job-related
the closure of action points in for incident reporting and criteria and we provide training on
corporate safety review meetings. investigation. A dedicated portal impartiality and fairness
allows for reporting incidents, .
Quality Assurance which are investigated by a Worker Participation and
To ensure the quality of our cross-functional committee. We Consultation
hazard and risk assessment use various methods for root We foster worker participation in
processes, we rely on rigorous cause analysis and corrective the development, implementation
training, professional certification actions, applying the hierarchy of and evaluation of our OHSMS.
and standardised procedures. controls to eliminate risks through Workers contribute via safety
Employees involved in these engineering controls. committee meetings, feedback
assessments receive extensive mechanisms and participation
training and are encouraged Occupational Health Services in safety drills. Information is
to obtain industry-recognised Our occupational health services communicated through digital
certifications. We regularly evaluate are crucial for identifying and platforms, meetings and bulletin
competency through performance eliminating hazards and minimising boards.
reviews and conduct independent risks. We conduct regular
reviews and audits to verify the inspections, health surveillance, Safety Committees
effectiveness of these processes. risk assessments and exposure Our safety committees consist of
monitoring. We ensure the quality of 50% workers and 50% management
Use of Results these services through adherence staff. They are responsible
We use results from hazard to regulatory standards, regular for developing, monitoring
identification and risk assessment audits and ongoing staff training. and improving OHS practices.
processes to evaluate and Services are accessible through on- Committees meet quarterly
continually improve our OHSMS. site availability, flexible scheduling to review safety performance,
Identified hazards and risk and clear communication. conduct risk assessments and
assessment outcomes are develop safety policies. They hold
reviewed in corporate safety review Confidentiality decision-making authority on key
meetings, contributing to a healthy We maintain the confidentiality of OHS issues.
and participative environment. This workers' personal health-related
enhances leading indicators and information by implementing Training Provided
reduces lagging indicators. robust data protection policies. We offer comprehensive OHS
Access is strictly controlled training, including generic and
Reporting Hazards and and data is securely stored specialised modules. Generic
Protections with encryption and secure training covers basic safety
Workers are authorised to report access methods. Confidential practices, emergency procedures
any hazards associated with their communication practices further and PPE use, while specialised
tasks. Hazards are addressed protect health information. training addresses specific
promptly as their closure tracking hazards. Training is delivered by
is integrated into our review Impartial Treatment competent trainers and evaluated
mechanism. We protect workers We ensure that personal for effectiveness through
against reprisals through a clearly health-related information and assessments and monitoring.

Non-Occupational Medical Voluntary Health Promotion Mitigating Negative OHS

Services We offer voluntary health Impacts
We facilitate workers' access promotion services addressing We prevent or mitigate significant
to non-occupational medical chronic diseases, mental health negative OHS impacts linked to
services through health insurance and lifestyle risks. Programs our operations through rigorous
plans and wellness programs. A include health screenings, fitness due diligence, regular audits and
qualified doctor is stationed at workshops, smoking cessation and open communication with partners
our plant's Occupational Health mental health counselling. Access and suppliers. We implement
Centre, available during duty is facilitated through on-site corrective action plans and provide
hours for non-occupational issues. availability, online resources and training resources to enhance
Insurance covers a range of wellness fairs. OHS awareness across the supply
services and wellness programs chain.
offering preventive care.
In FY 2023-24, we recorded no fatalities or high-consequence work-related injuries (excluding fatalities)

among our employees and workers.
We identify work- We recorded no high- We address identified We continue to track

related hazards through consequence injuries hazards using the and resolve other work-
reports of unsafe acts, during FY 2023-24. hierarchy of controls. related hazards through
unsafe conditions, near Each hazard, reported our established reporting
misses and incidents. through various mechanisms and
All employees are mechanisms, is tracked monthly safety reviews,
empowered to report and resolved during adhering to the hierarchy
these hazards. We log monthly safety reviews. of controls.
and track these hazards We rigorously apply the
in the system, ensuring hierarchy of controls
monthly reviews for throughout the resolution
closure via the HSE process.
Portal.
We calculate hazard No workers have been We compile data

rates based on 1,000,000 excluded from this following the IS3786
hours worked. disclosure. standard for calculating
incident and incident
rates.


Implementation of Occupational Health and Safety Management System (OHSMS)
At DPL, we have proactively Our Health, Safety, Environment The results from our risk
implemented an Occupational and Fire (HSEF) department, assessments are integral to
Health and Safety Management consisting of 12 on-roll and 23 off- enhance our OHSMS. We use the
System (OHSMS) in alignment with roll employees, is responsible for ALARP (As Low as Reasonably
ISO 45001:2018 standards. This administering and implementing Possible) principle based on our
voluntary decision, not mandated the OHSMS. risk rating matrix to prioritise
by Indian law, underscores our actions and promote continual
commitment to exceed statutory To drive continuous improvement, improvement in safety practices.
health and safety requirements we conduct monthly review
and ensure a safe working meetings with top management to Safety observations and incidents
environment for both our on-roll assess system performance and can be reported through our online
employees and contractors. identify areas for enhancement. "HSE Portal" for on-roll employees,
This ongoing review process while off-roll employees use safety
Our OHSMS adheres to recognised ensures that our occupational observation boxes equipped with
risk management standards health and safety practices reporting slips. Our permit-to-
and guidelines, specifically ISO remain effective and responsive to work SOP allows any worker to
45001:2018. This structured, emerging needs. halt work if they perceive a risk,
risk-based approach allows us to ensuring their safety without fear
manage occupational health and Risk Management and Safety of retaliation.
safety effectively by providing a Reporting Processes
comprehensive framework for risk DPL employs a detailed risk Incident reporting and
management. The scope of our assessment system to identify investigations are managed
OHSMS encompasses all workers and evaluate work-related hazards through the HSE Portal, where
and their activities, ensuring for both routine and non-routine the Head of Department assigns
thorough management of safety tasks. Our risk management investigation teams as per our
and health across our operations. approach follows the hierarchy SOP. Corrective and Preventive
of controls to mitigate risks Actions (CAPA) are tracked and
We have established Standard effectively, using a fixed risk rating managed through the portal to
Operating Procedures (SOPs) matrix applicable to all tasks. This ensure thorough analysis and
for routine tasks and a permit- systematic approach guarantees improvement.
to-work system for non-routine that our risk assessments are
tasks to ensure comprehensive conducted competently and
coverage and safety management. maintain high process quality.

Our Occupational Health Services

DPL operates a well-established Occupational Health Centre (OHC) that supports the health and safety of all
employees, including those off-roll. Complying with Gujarat Factory Rules 1963, the OHC conducts regular
health monitoring and surveillance programs tailored to job-specific health risks.
Quality and Confidentiality Non-Bias

Accessibility
The OHC ensures high-quality We maintain a secure OHC portal Our confidentiality protocols
occupational health services with to protect workers' personal guarantee that personal health
easy access for all employees. It health information, ensuring that information and participation in
serves as a central hub for health sensitive data is confidential and health services do not influence
assessments and preventive care. accessible only to authorised workers' treatment within the
personnel. organisation.

Worker Participation and Consultation in Occupational Health and Safety
Worker Participation Joint Management-Worker Health

Processes And Safety Committees
Committees for Worker Participation Committee Structure and Responsibilities

• Central Safety Committee: Oversees and • Central Safety Committee: Responsible for
coordinates occupational health and safety overarching safety policies and strategies.
initiatives across the organisation. • Sectional Safety Committees: Address safety
• Sectional Safety Committees: Four committees concerns specific to their sections.
handle safety matters within specific sections of • Responsibilities: Defined in the Safety Committee
the organisation. SOP, including policy development, risk
• Formation: Complies with Gujarat Factory Rules management and incident response.
1963, ensuring structured worker involvement.
Meeting Frequency
Involvement in Key Processes • Sectional Committees: Meet monthly to address
• Risk Assessments: Workers participate in and review safety issues within their sections.
identifying and evaluating risks. • Central Committee: Holds quarterly meetings to
• Incident Investigations: Employees contribute discuss and review overall safety performance and
in understanding and analysing workplace policies.
incidents.
• Training Programs: Participation in health and Decision-Making Authority
safety training sessions. • Committees have defined roles and authority to
• Engagement Activities: Involvement in events make decisions on safety practices and policies.
such as Safety Week and Fire Service Week • Roles and Responsibilities: Clearly outlined in
the Safety Committee SOP to ensure effective
Communication Platforms management and implementation of safety
• Notice Boards: Display important safety measures.
information.
• Toolbox Talks: Regular discussions on safety Worker Representation
practices and updates. • Compliance: Committees meet the Gujarat
• Safety Display Boards: Visual communication of Factory Rules 1963 requirement of 50% worker
safety metrics and procedures. participation.
• Safety Guide Booklets: Provide detailed • Representation: All workers are represented,
information on health and safety protocols. ensuring inclusive participation in safety
discussions and decision-making processes.

Occupational Health and Safety Training for Workers

We provide a range of occupational induction training and 111-A training calendar to cover these
health and safety training to all mandatory safety awareness requirements. Our Learning
workers, including both mandatory training. We identify training Council team ensures the delivery
and role-specific sessions. Every needs based on employee grades of comprehensive training
employee undergoes safety and roles and prepare an annual programs.
Access to Non-Occupational Medical and Healthcare Services

We ensure access to non- with their personal health personal health problems, such as
occupational medical and concerns. Additionally, we have high blood pressure or diabetes,
healthcare services for all partnerships with multispecialty receive counselling from our
employees. We operate a well- hospitals to address both factory medical officer.
established Occupational Health occupational and personal health
Centre that supports employees issues. Employees experiencing
DPL offers voluntary health promotion services and programs designed to address major non-work-related
health risks. Our programs focus on the following:
Mental Well-Being HIV Awareness Balanced Diet Bone Strength Skin and Eye
Check-ups Check-ups
Awareness and Educational Workshops and Regular screenings Health camps

support sessions programs to raise guidance on and advice on bone for skin and eye
to promote mental awareness and maintaining a health. examinations.
health. prevention. healthy diet.
DPL’s Approach in Preventing and Mitigating Negative OHS Impacts

DPL actively prevents and
Implementation of OHSMS and Coverage
mitigates significant negative
DPL has implemented the Occupational Health and Safety
OHS impacts associated with
Management System (OHSMS) voluntarily, as it is not a legal
our operations and business
requirement in India.
relationships. We conduct regular
audits and inspections through
We cover 100% of all employees and workers, including contractual
external agencies to identify
and non-employee workers, under our OHSMS. This comprehensive
OHS risks, particularly from a
coverage ensures that all are included in both internal and external
process perspective. We promptly
audits of the system.
implement recommended
actions to enhance our OHS
No workers are excluded from the OHSMS; all are fully covered
practices and ensure continuous
under the system.
improvement.

Permanent Employees Workers

No Fatalities Due to Work-Related ill No Fatalities Among Non-Employee
Health Workers
We have had no fatalities among our We confirm that there have been no
permanent employees because of work- fatalities among non-employee workers
related ill health. due to work-related ill health.
Zero Recorded Cases of Work-Related Zero Recordable Work-Related ill

ill Health Health Cases
There have been no documented cases There have been no recorded incidents
of work-related ill health among our of work-related ill health affecting non-
permanent employees. employee workers under our operational
control.
Focus on Preventative Health
Measures Absence of Significant Work-Related
Our efforts have been concentrated on Health Issues
preventing common work-related health Our monitoring and reporting processes
issues, such as respiratory conditions, have shown no prevalent work-related
musculoskeletal disorders and stress- health issues among non-employee
related concerns. workers within our organisation.

Human Rights
Child Labor
We strictly prohibit child labor labor include frequent audits and associate and join trade unions
across all operations, engaging regular interventions. or other employee organisations.
only adult workers and ensuring Our policies support open dialogue
compliance with relevant labor Forced or Compulsory Labor and collective bargaining, fostering
laws. We do not employ young We have a robust system of vendor a respectful and collaborative
workers in hazardous processes. and supplier audits to prevent workplace. Workers' rights to
For those hired through campus any form of forced or compulsory freedom of association and
recruitment who are underage, we labor across all manufacturing collective bargaining are respected,
obtain approval from a certifying operations. We have conducted with seven registered trade unions
surgeon as per the Factories thorough assessments and have at various locations. This policy
Act, 1948 and assign them to not identified any instances of is applied to our manufacturing
non-manufacturing roles until forced or compulsory labor within plants. We engage in collective
they reach the legal working age. our operations or supply chain. bargaining processes and
Our robust system of vendor Measures to eliminate forced or hold periodic meetings with all
and supplier audits ensures compulsory labor include frequent registered trade unions to maintain
full compliance with child labor audits and regular interventions. harmonious industrial relations. For
prohibitions. We have implemented further details, please refer to our
rigorous measures to ensure that Freedom of Association Diversity, Equal Opportunity and
our operations are free from child We uphold the fundamental Freedom of Association policy.
labor. Measures to abolish child right of our employees to freely
Security Personnel Training
Sixty-three percent of our security Includes

personnel have received formal third-party personnel
training in human rights policies Yes
and procedures, including third-
party security personnel. We Training content
ensure that third-party security Human Rights Policies
63% and Procedures
agencies provide their personnel Percentage
with relevant human rights training of security
to enhance awareness and personnel Training integration
compliance. This training is part of trained Part of the induction
program
our induction program, aimed at
integrating human rights principles
Goal
into daily decision-making. Enhance awareness
and compliance with
human rights principles

At DPL, 100% of our security

personnel have received formal
training in the organisation’s human
rights policies and specific procedures 100%
related to security. This training Percentage Includes
requirement extends to third-party of security third-party personnel
personnel Yes
organisations providing security
trained
personnel, ensuring that they, too,
receive comprehensive training
conducted by both the third-party
providers and the principal employer.
Our community engagement and on needs identified through

We have not identified any
development programs focus on baseline studies. We also establish
significant actual or potential
maximising impact and improving broad-based local community
negative impacts on local
the quality of life for community consultation committees,
communities, nor have there been
members through comprehensive prioritising vulnerable groups and
any violations involving the rights
CSR initiatives. We conduct social address grievances through formal
of indigenous peoples during the
impact assessments, including processes involving community
reporting period.
gender impact assessments members, implementation
and tailor local community partners and the Deepak's CSR
development programs based team.

Particulars NDS DHJ Taloja Roha HSD Vadodara
Percentage of senior
management* at significant
locations** of operation 75% 75% Nil 33.33% 100% 55%
that are hired from the
local*** community.

Particulars DHJ
Percentage of senior management* at significant locations** of operation
43%
that are hired from the local*** community.
* The definition used for ‘senior management’ includes all AGM and above employees as per our Policy.
** The definition used for ‘significant locations of operation’ includes plant locations at Nandesari (NDS), Dahej (DHJ), Roha, Taloja,
Hyderabad Speciality Division (HSD) and Vadodara.
*** The organisation’s geographical definition of ‘local’ refers to the state in which the operational unit is present.
Our Corporate Social Responsibility Initiatives

At Deepak we are committed
While designing our community development initiatives, we
in making a meaningful impact
prioritise maximising their impact and reach. We strategically
through our Corporate Social
allocate resources to enhance the overall quality of life and living
Responsibility (CSR) activities.
standards for community members. Our CSR projects are designed
Our focused areas encompass
with a focus on meeting fundamental human needs, supporting
education, health, women
individuals from birth through old age. As a responsible corporate
empowerment, the environment,
citizen, we are committed in ensuring that no community is left
skill development and livelihood.
behind in our development efforts.
We aim to demonstrate corporate
Our CSR activities extend across various states in India, with
responsibility by empowering
a focus on equitable development, especially for underserved
communities through education,
communities. We follow a comprehensive CSR policy that directs
healthcare, skill-building and
our efforts to empower the communities around our plants and
livelihood opportunities. Our goal
offices, as well as urban, rural and tribal areas, based on thorough
is to enhance the socio-economic
needs assessments.
conditions of our communities and
ensure we operate with a clear
For example, our impact assessments for the Sangaath Project in
purpose.
Gujarat have revealed significant positive outcomes. The initiative
has notably improved the quality of life for beneficiaries by involving
During FY 2023-24, we made
them in various government schemes and programs.
significant strides in health,
education, livelihood and rural
We design all our projects with careful consideration of community
development. We launched several
needs, supported by detailed baseline studies and needs
new projects and undertook major
assessments. Our initiatives prioritise vulnerable groups, aiming
activities in ongoing ones, resulting
to deliver maximum benefits to those in urgent need through
in a greater number of beneficiaries
interconnected projects that empower individuals.
and expanded outreach.
8,50,000 We address grievances from the local community by engaging

with community members, implementation partners and our CSR
Beneficiaries reached across all
team. We discuss issues, explore alternative solutions and conduct
our projects in FY 2023-24.
thorough follow-ups to resolve problems and ensure smooth
progress of our initiatives.
Our efforts have led to substantial
improvements in the lives of those
we serve, contributing to their Our Company has not experienced any significant actual or potential
overall socio-economic upliftment negative impacts on local communities or the locations of our operations.
and enhancing community We maintain rigorous standards and practices to ensure our operations
prosperity. do not adversely affect the communities in which we operate.

Customer Relationships
Driving Growth Through Customer Satisfaction

Our robust Customer Relationship us to respond swiftly to market This customer-centric approach
Management (CRM) system acts as demands. has proven essential in fostering
a central repository for customer loyalty, driving profitable growth
data, preferences and purchase Our CRM system ensures proactive and establishing ourselves as a
history. This system enables us communication with customers reliable and preferred partner. We
to automate customer tasks, by providing real-time updates prioritise customer satisfaction and
enhance engagement and deliver on order status, dispatch details implement a range of initiatives
personalised service. We have and expected delivery times. to enhance relationships, build
integrated our CRM with Enterprise This level of transparency builds long-term trust and ensure
Resource Planning (ERP) system, trust and strengthens customer transparency. Our robust systems
creating a seamless connection relationships. We are committed and resolution mechanisms ensure
between customer orders and in offering innovative and cost- effective incorporation of customer
manufacturing activities. When effective products, focusing on feedback and prompt resolution of
an order is placed, relevant details retaining and attracting customers grievances.
are promptly transmitted to the through active engagement and a
appropriate department, allowing deep understanding of their needs.
Delivering High-Quality Products

We adhere to international Authorisation and Restriction of to provide timely, high-quality
standards such as the Chemicals (REACH) to ensure products tailored to customer
International Standards (IS) quality. We uphold long-term needs is reinforced by our robust
and hold certifications from the contracts with key bulk customers pricing strategies, which foster
Bureau of Indian Standards (BIS) and consistently fulfil these mutually beneficial outcomes.
and Registration, Evaluation, agreements. Our dedication
1,500+ Majority Long-term

Customers repeat customers customers
relationship
45+ 34 56+
Countries served High Value Products Applications

Appendix I
ESG Performance Tables
Environmental Performance*
*This year, environmental indicators, including energy consumption, water usage and waste generation at DNL
and DPL, have shown an upward trend. This rise is largely attributed to our ongoing expansion activities. While
these expansions support growth and innovation, they underscore the need for more efficient processes and
enhanced environmental stewardship. We are actively evaluating and implementing strategies to mitigate these
impacts and align our growth with responsible environmental management, aiming to balance expansion with
our sustainability goals.
Water Withdrawal
Source Unit FY 2023-24 FY 2022-23
Surface water ML - -
Ground water ML - -
Seawater ML - -
Produced water ML - -
Third party water (Municipality ML 1,352 1,402
Pipelines)
Total Water Withdrawal ML 1,352 1,402

Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Withdrawal ML 2,267 2,292

Water Discharge
Ground water ML - -
Seawater ML - -
Third party water (Municipality ML 597 692
Pipelines)
Total Water Discharge ML 597 692

Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Discharge ML 241 252
Water Consumption
Unit FY 2023-24 FY 2022-23
Total Water Consumed ML 755 709

Unit FY 2023-24 FY 2022-23
Total Water Consumed ML 2,026 2,040
Water Consumption Intensity

Unit FY 2023-24 FY 2022-23
Water Consumption intensity as ML/ MT of production 3.20 X 10 -3
3.40 X 10-3
per products
Water Consumption intensity as ML/INR 2.77 X 10-1 2.33 X 10-1
per sales


Unit FY 2023-24 FY 2022-23
Water Consumption intensity as ML/ MT of production 2 X 10-3 2.20 X 10-3
per products
Water Consumption intensity as ML/INR 0.40 0.41
per sales
Water Withdrawal in Water Stressed regions

Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Withdrawal in Water ML 1,155 1,204
Stressed regions

Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Withdrawal in Water ML 2,267 2,292
Stressed regions
Water Discharge in Water Stressed regions

Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Discharge in Water ML 538 495
Stressed regions


Ground water ML - -
Seawater ML - -
Pipelines)
Total Water Discharge in Water ML 241 252
Stressed regions
Water Consumption in Water Stressed regions

Unit FY 2023-24 FY 2022-23
Total Water Consumed in ML 617 709
Water Stressed regions

Unit FY 2023-24 FY 2022-23
Total Water Consumed in ML 2,026 2,040
Water Stressed regions
Waste Generation
Waste Type Unit FY 2023-24* FY 2022-23
Hazardous Waste
E-waste MT 4 0.11
Bio-medical Waste MT 0.02 0.02
Battery Waste MT 1 0.22
Other Hazardous waste MT 1,07,856 74,710
Total Hazardous Waste Generated MT 1,07,861 74,710
Non-Hazardous Waste
Plastic waste MT 1,537 202
Construction and demolition waste MT 472 -
Other Non-hazardous waste MT 13,226 -
generated
Total Non-Hazardous Waste MT 15,235 202
Generated
Total Waste Generated MT 1,23,096 74,912
* The Company started monitoring two new categories of wastes viz. (a) Construction and demolition waste and (b) other Non-Hazardous Waste from FY 2023-24.


Waste Type Unit FY 2023-24 FY 2022-23
Hazardous Waste
E-waste MT 1 -
Bio-medical Waste MT 0.0013 0.00244
Battery Waste MT - -
Other Hazardous waste MT 461 309
Total Hazardous Waste MT 462 309
Generated
Non-Hazardous Waste
Plastic waste MT 3 2
Construction and demolition waste MT - -
Other Non-hazardous waste MT 147 206
generated
Total Non-Hazardous Waste MT 150 208
Generated
Total Waste Generated MT 612 517
Waste Consumption Intensity

Unit FY 2023-24* FY 2022-23
Waste intensity as per products ML/ MT of production 0.51 0.35
Waste intensity as per sales ML/INR 4.52 X 10-6 2.47 X 10-6

Unit FY 2023-24 FY 2022-23
Waste intensity as per products ML/ MT of production 6 X 10-4 7 X 10-4
Waste intensity as per sales ML/INR 0.10 0.10
* The Company started monitoring two new categories of wastes viz. (a) Construction and demolition waste and (b) other Non-Hazardous Waste from FY 2023-24.

Waste Diverted from Disposal

Hazardous Waste
Preparation for reuse MT - -
Recycling MT 94,247 64,191
Other Recovery Operations (Co- MT 5 -
processing)
Total Hazardous Waste Diverted MT 94,252 64,191
from Disposal
Non-Hazardous Waste
Recycling MT 13,226 -
Other Recovery Operations MT 2,009 -
(Co-processing)
Total Non-Hazardous Waste MT 15,236 -
Diverted from Disposal
Total Waste Diverted from MT 1,09,488 64,191
Disposal

Hazardous Waste
Preparation for reuse MT 312 11
Recycling MT 2 4
Other Recovery Operations MT - 22
Total Hazardous Waste Diverted MT 314 37
from Disposal
Non-Hazardous Waste
Recycling MT 150 208
Other Recovery Operations MT - -
Total Non-Hazardous Waste MT 150 208
Diverted from Disposal
Total Waste Diverted from MT 464 245
Disposal

Waste Directed to Disposal

Hazardous Waste
Incineration (with energy recovery) MT - -
Incineration MT 4 5
(without energy recovery)
Landfilling MT 13,605 10,717
Other disposal operations MT - -
Total Hazardous Waste Directed MT 13,609 10,722
to Disposal
Total Hazardous Waste Directed to Disposal
Incineration MT - -
Landfilling MT - -
Total Non-Hazardous Waste MT - -
Directed to Disposal
Total Waste Directed to MT 13,609 10,722
Disposal

Hazardous Waste
Incineration MT 8.60 X 10-4 1.66 X 10-3
Landfilling MT 173 352
Total Hazardous Waste Directed MT 173 352
to Disposal
Non-Hazardous Waste
Incineration MT - -
Landfilling MT - -
Total Non-Hazardous Waste MT - -
Directed to Disposal
Total Waste Directed to Disposal MT 173 352

Greenhouse Gas Emissions

Unit FY 2023-24 FY 2022-23
Total Scope 1 GHG Emissions tCO2e 1,17,226 1,38,304
Total Scope 2 GHG Emissions tCO2e 93,029 84,305
Total GHG Emissions tCO2e 5,39,810 6,99,401

Unit FY 2023-24 FY 2022-23
Total Scope 2 GHG Emissions tCO2e 12,670 18,633
Total GHG Emissions tCO2e 8,76,656 9,19,459
Greenhouse Gas Emissions Intensity

Unit FY 2023-24 FY 2022-23
GHG emissions intensity as tCO2e/ MT 2.25 3.34
per products of production
GHG emissions intensity as tCO2e/INR 1.98 X 10-5 2.30 X 10-5

per sales

Unit FY 2023-24 FY 2022-23
GHG emissions intensity as per tCO2e/ MT 0.86 1.01
products of production
GHG emissions intensity as per tCO2e/INR 1.75 X 10-5 1.85 X 10-5

sales
Air Emissions
Unit FY 2023-24 FY 2022-23
NOx MT 427 432
SOx MT 300 329
Particulate matter (PM) MT 65 75
Volatile organic compounds (VOC) MT - -


Unit FY 2023-24 FY 2022-23
NOx MT 87 78
SOx MT 59 124
Particulate matter (PM) MT 50 28
Volatile organic compounds (VOC) MT - -
Energy Management
Unit FY 2023-24 FY 2022-23
Total Non-Renewable fuel GJ 13,91,230 12,41,466
consumption
Total Renewable fuel consumption GJ 24 9
Total Indirect energy consumption GJ 7,15,940 7,01,216
Total Energy Consumption GJ 21,07,194 19,42,691

Unit FY 2023-24 FY 2022-23
Total Non-Renewable fuel GJ 41,98,482 42,72,964
consumption
Total Renewable fuel consumption GJ 44,278 -
Total Indirect energy consumption GJ 8,34,789 7,97,632
Total Energy Consumption GJ 50,77,549 50,70,596
Energy Intensity
Unit FY 2023-24 FY 2022-23
Energy intensity as per products GJ/ MT of production 8.80 6.83
Energy intensity as per sales GJ/INR 7.73 X 10-5 4.70 X 10-5

Unit FY 2023-24 FY 2022-23
Energy intensity as per products GJ/ MT of production 5.00 5.59
Energy intensity as per sales GJ/INR 1.01 X 10-4 1.02 X 10-4

Social Performance
Workforce Breakdown
Employee Category FY 2023-24
<30 years 30-50 years >50 years
Permanent Employees 461 22 875 22 338 2
Temporary Employees 1,152 36 691 10 461 -
Total 1,613 58 1,566 32 799 2

<30 years 30-50 years >50 years
Permanent Employees 153 16 218 11 20 -
Temporary Employees 27 7 5 2 15 -
Total 180 23 223 13 35 -

Training and Development Overview

EHS Training HR Training Other Training
Particulars except EHS and HR
Senior management No. of 16 - 14 - 18 -
Employees
Manhours 64 - 112 - 30 -
Middle management No. of 191 5 86 2 125 3
Employees
Manhours 2,028 50 796 16 880 24
Junior management No. of 768 7 187 1 336 14
Employees
Manhours 12,899 98 2,569 6 2,683 112
Workers (permanent) No. of 217 - 106 - - -
Employees
Manhours 2,876 - 780 - - -
Contractual workers No. of 459 - 275 - - -
Employees
Manhours 2,999 - 1,730 - - -
Total Manhours 20,866 148 5,987 22 3,593 136

EHS Training HR Training Other Training
Particulars except EHS and HR
Senior management No. of 5 - 5 - 5 -
Employees
Manhours 112 - 65 - 92 -
Middle management No. of 27 - 27 - 27 -
Employees
Manhours 657 - 475 - 456 -
Junior management No. of 267 10 267 10 267 10
Employees
Manhours 9,251 593 2,660 142 3,112 123
Total Manhours 10,319 603 3,499 152 3,959 133

Deepak Nitrite Limited FY 2023-24

Safety Data for Total (Incidents) Male (Incidents) Female Main type of
Employees (Incidents) work-related
injury
The main types of 1 1 - LTI (Reportable)
work-related injury
The number of hours 35,51,184
worked
FY 2023-24
Safety Data for workers Total (Incidents) Male (Incidents) Female Main type of
who are not employees (Incidents) work-related
but whose work and/or injury
workplace is controlled
by the organisation
The main types of 1 1 - LTI (Reportable)
work-related injury
worked
Deepak Phenolics Limited FY 2023-24

Safety Data for Total (Incidents) Male (Incidents) Female Main type of
Employees (Incidents) work-related
injury
The main types of - - - Not Applicable
work-related injury
worked
FY 2023-24
Safety Data for workers Total (Incidents) Male (Incidents) Female Main type of
who are not employees (Incidents) work-related
but whose work and/or injury
workplace is controlled
by the organisation
The main types of - - - Not Applicable
work-related injury
worked

Appendix II
GRI Content Index
Statement of use [Name of organisation] has reported the information cited in this GRI content
index for the period [reporting period start and end dates] with reference to the
GRI Standards.
GRI 1 used GRI 1: Foundation 2021
GRI Standard Disclosure Location

GRI 2: General 2-1 Organizational details 4, 6, 7, 8, 9, 11
Disclosures 2-2 Entities included in the organization’s sustainability reporting 4, 6, 7
2021
2-3 Reporting period, frequency and contact point 4, 5
2-4 Restatements of information 118, 121, 123
2-5 External assurance 136
2-7 Employees 15, 93, 127
2-8 Workers who are not employees 127
2-9 Governance structure and composition 53-56
2-10 Nomination and selection of the highest governance body 57
2-11 Chair of the highest governance body 53
2-14 Role of the highest governance body in sustainability reporting 58-59
2-15 Conflicts of interest 60
2-18 Evaluation of the performance of the highest governance body 57
2-20 Process to determine remuneration 58
2-21 Annual total compensation ratio 58
2-22 Statement on sustainable development strategy 16-29
2-25 Processes to remediate negative impacts 44-50
2-26 Mechanisms for seeking advice and raising concerns 64
2-27 Compliance with laws and regulations 62-64
2-28 Membership associations 10
2-29 Approach to stakeholder engagement 32-35
2-30 Collective bargaining agreements 101, 114


GRI 3: Material 3-1 Process to determine material topics 36-39
Topics 2021
3-2 List of material topics 39
3-3 Management of material topics 40-43
GRI 201: 201-1 Direct economic value generated and distributed 69
Economic
201-2 Financial implications and other risks and opportunities due to 44-50
Performance
climate change
2016
201-3 Defined benefit plan obligations and other retirement plans 101
GRI 202: Market 202-2 Proportion of senior management hired from the local 115
Presence community
2016
GRI 205: Anti- 205-1 Operations assessed for risks related to corruption 64
corruption
205-3 Confirmed incidents of corruption and actions taken 64
2016
GRI 301: 301-1 Materials used by weight or volume 75
Materials 2016
GRI 302: Energy 302-1 Energy consumption within the organization 88, 126
2016
302-2 Energy consumption outside of the organization 126
302-3 Energy intensity 88, 126
302-4 Reduction of energy consumption 126
GRI 303: Water 303-2 Management of water discharge-related impacts 78, 79
and Effluents
303-3 Water withdrawal 77, 118
2018
303-4 Water discharge 77, 119
303-5 Water consumption 77, 119
GRI 305: 305-1 Direct (Scope 1) GHG emissions 85, 125, 126
Emissions 2016
305-2 Energy indirect (Scope 2) GHG emissions 85, 125, 127
305-3 Other indirect (Scope 3) GHG emissions 85, 125, 127
305-4 GHG emissions intensity 85, 125, 127
305-5 Reduction of GHG emissions 85, 125, 127
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx) and other 125
significant air emissions
GRI 306: Waste 306-1 Waste generation and significant waste-related impacts 82, 83, 121-124
2020
306-2 Management of significant waste-related impacts 82-84
306-3 Waste generated 83, 121, 122
306-4 Waste diverted from disposal 83, 123
306-5 Waste directed to disposal 83, 124


GRI 308: 302-1 Energy consumption within the organisation 74
Supplier
302-2 Energy consumption outside of the organisation 74
Environmental
Assessment
2016
GRI 401: 401-1 New employee hires and employee turnover 96, 101
Employment
401-2 Benefits provided to full-time employees that are not provided 101
2016
to temporary or part-time employees
401-3 Parental leave 102
GRI 402: Labor/ 402-1 Minimum notice periods regarding operational changes 101
Management
Relations 2016
GRI 403: 403-1 Occupational health and safety management system 104-108
Occupational
403-2 Hazard identification, risk assessment and incident 107, 108
Health and
investigation
Safety 2018
403-3 Occupational health services 110-113
403-4 Worker participation, consultation and communication on 111
occupational health and safety
403-5 Worker training on occupational health and safety 106, 107
403-6 Promotion of worker health 108
403-8 Workers covered by an occupational health and safety 112
management system
403-9 Work-related injuries 129
403-10 Work-related ill health 129
GRI 404: 404-1 Average hours of training per year per employee 128
Training and
404-2 Programs for upgrading employee skills and transition 97, 99
Education 2016
assistance programs
404-3 Percentage of employees receiving regular performance and 100
career development reviews
GRI 405: 405-1 Diversity of governance bodies and employees 56, 93-95
Diversity
and Equal
Opportunity
2016
GRI 406: Non- 406-1 Incidents of discrimination and corrective actions taken 94
discrimination
2016


GRI 410: 410-1 Security personnel trained in human rights policies or 114, 115
Security procedures
Practices 2016
GRI 413: Local 413-1 Operations with local community engagement, impact 115, 116
Communities assessments and development programs
2016
413-2 Operations with significant actual and potential negative 116
impacts on local communities
GRI 414: 414-1 New suppliers that were screened using social criteria 74
Supplier Social
414-2 Negative social impacts in the supply chain and actions taken 74
Assessment
2016
GRI 416: 416-1 Assessment of the health and safety impacts of product and 117
Customer service categories
Health and
Safety 2016
GRI 418: 418-1 Substantiated complaints concerning breaches of customer 64
Customer privacy and losses of customer data
Privacy 2016


SASB Content Index
Topic Metric Category Unit Of Reference

Measure
Greenhouse Gross global Scope 1 emissions, Quantitative Metric tonnes 125
Gas Emissions percentage covered under (t) CO₂-e,
emissions- limiting regulations Percentage (%)
Discussion of long- and short- Discussion and n/a 85, 86
term strategy or plan to manage Analysis
Scope 1 emissions, emissions
reduction targets and an analysis of
performance against those targets
Air Quality Air emissions of the following Quantitative Metric tonnes 125, 126
pollutants: (t)
(1) NOX (excluding N2O), (2) SOX,
(3) volatile organic compounds
(VOCs) and (4) hazardous air
pollutants (HAPs)
Energy 1. Total energy consumed, Quantitative Gigajoules (GJ), 88, 126
Management 2. percentage grid electricity, Percentage (%)
3. percentage renewable and (4)
total self-generated energy 1
Water (1) Total water withdrawn, (2) total Quantitative Thousand cubic 77, 78, 79, 118,
Management water consumed; percentage metres (m³), 119
of each in regions with High or Percentage (%)
Extremely High Baseline Water
Stress
Description of water management Discussion and n/a 78, 79
risks and discussion of strategies Analysis
and practices to mitigate those
risks
Hazardous (1) Amount of hazardous waste Quantitative Metric tonnes 121-124
Waste generated, (2) percentage recycled (t), Percentage
Management (%)
Community Discussion of engagement Discussion and n/a 115, 116
Relations processes to manage risks and Analysis
opportunities associated with
community interests

Topic Metric Category Unit Of Reference

Measure
Workforce (1) Total recordable incident rate Quantitative Rate 128, 129
Health and (TRIR) and (2) fatality rate for (a)
Safety direct employees and (b) contract
employees
Description of efforts to assess, Discussion and n/a 101-112
monitor and reduce exposure of Analysis
employees and contract workers to
long-term (chronic) health risks
Safety and Discussion of strategy to (1) Discussion and n/a 105-107
Environmental manage chemicals of concern Analysis
Stewardship of and (2) develop alternatives with
Chemicals reduced human or environmental
impact
Management Discussion of corporate positions Discussion and n/a 16-29, 58-59
of the Legal related to government regulations Analysis
and Regulatory or policy proposals that address
Environment environmental and social factors
affecting the industry

Independent Limited Assurance Statement to

Deepak Nitrite Limited on their Sustainability
Report for the Financial Year 2023-24
TÜV SÜD South Asia Pvt. Ltd. ⚫ 373-374, Udyog Vihar ⚫ Phase-II, Sector-20 ⚫ Gurgaon – 122016 ⚫ Tel.: +91 0124
Independent Assurance Statement to Deepak Nitrite Limited on their Annual Sustainability Report (SR) for the Financial Year
2023-2024
Introduction and, Engagement
Deepak Nitrite Limited (DNL), has developed its Sustainability Report (SR) based on Global Reporting Initiative (GRI) 2021 Standard
Guideline and Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard.
TÜV SÜD South Asia Pvt. Ltd. (‘TÜV SÜD’) has been engaged by the DNL to conduct and provide independent assurance on the
Sustainability performances and parameters on the select non-financial sustainability disclosures in the Sustainability Report 2023-24 ('the
Sustainability Report') as described in the 'scope, boundary, characteristics and limitations.
DNL’s Responsibility
DNL is responsible for the preparation of the SR and for maintaining effective internal control over the data and information disclosed (as
per GRI 2021). This responsibility includes the design, implementation, and maintenance of internal controls relevant to the preparation of
the SR Report that is free from material misstatement, whether due to fraud or error.
DNL is responsible for ensuring that its business operations and activities comply with the applicable statutory and regulatory requirements.
The Reports and disclosures have been approved by and remain the responsibility of DNL.
Ultimately, the SR Report and disclosures have been approved by and remain the responsibility of DNL.
TÜV SÜD Responsibility
TÜV SÜD, in performing assurance work, is responsible for carrying out an assurance engagement on the SR in accordance with our
contract with DNL. The assurance statement, however, represents TÜV SÜD’s independent opinion and is intended to inform all
stakeholders, including DNL.
Assurance Level & Criteria

• We applied the criteria of ‘Limited’ Assurance for non-financial information of the SR with respect to the reporting period from
April 1, 2023, to March 31, 2024.
• We conducted our engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised),
Assurance Engagements Other Than Audits or Reviews of Historical Financial Information issued by the International Auditing
and Assurance Standards Board.
• We plan and perform our procedures to obtain a meaningful level of assurance about whether the Sustainability Report complies
with GRI Standards 2021 in all material respects, as the basis for our Limited Assurance conclusion
• We also referred to the "WRI/WBCSD GHG Protocol (Greenhouse Gas Protocol)” as well as ISO 14064-3:2019 for GHG
Emissions.
1Scope and boundary of assurance
We have assured the sustainability indicators of SR, the Company’s Greenhouse gas (GHG) emissions (Appendix-1), as well as the
Company’s CDP Climate Change disclosure, pertaining to the Company’s non-financial performance for the period April 1, 2023, to
March 31, 2024.
The validation and verification were carried out by a multidisciplinary team including assurance practitioners, sustainability and
environmental experts of TÜV SÜD in the month of September 2024 for 5 manufacturing units and 1 Corporate Office. TÜV SÜD has
identified and selected the following 3 three locations as samples for verification:
I. DNL’s Manufacturing facility at Dahej, Bharuch, Gujarat.
1
This Assurance Statement is limited to Deepak Nitrate Limited Only. It does not cover any information related with Deepak Phenolics Limited
(DPL) & Deepak Oman Industries LLC (SFZ) (DOIL).
PAN No.: AABCT0716G Registered Office: Corporate Office:

TAN No.: MUMT09385F TÜV SÜD South Asia Pvt. Ltd. TÜV SÜD South Asia Pvt. Ltd.
Gurgaon GSTIN: 06AABCT0716G1ZR TÜV SÜD House, Solitaire, 4th Floor, www.tuv-sud.in
Maharashtra GSTIN: 27AABCT0716G1ZN Off Saki Vihar Road, ITI Road, Aundh,
Saki Naka, Andheri (East), Pune – 411007, India.
CIN No.: U74220MH1999PTC121330
Mumbai – 400072, India.

Page 2 of 4
II. DNL’s Manufacturing facility at Nandesari, Vadodara, Gujarat

III. DNL’s Registered & Corporate Office at Vadodara, Gujarat
Assurance Methodology
We conducted a review and verification of data collection, collation and calculation methodologies, and a general review of the logic of
inclusion/omission of relevant information/data in the Reports. Our review process included:
• Verification of the content as well as context and application of the Report content, and principles as mentioned in the Global
Reporting Initiative (GRI 2021) Standards, and the quality of information presented in the Report over the reporting period.
• Engagement through discussions with departmental head and concerned personnel, corporate team to understand the process
for collecting, collating, and reporting as per Assurance Engagements (ISAE) 3000 (Revised) and GRI 2021.
• Review of the sustainability initiatives, practices, on ground establishment, implementation, maintenance, and performance
described in the Reports.
• Review of data collection and management procedures, and related internal controls.
• Assessment of the reporting mechanism and consistency with the reporting criteria.
• Assessment of appropriateness of various assumptions, estimations and thresholds used by DNL for data analysis
• Execution of an audit trail of claims and data streams, to determine the level of accuracy in collection, transcription, and
aggregation.
• Verification of the fact that no material distortion has been done at any stage.
• Assessment of the SR mechanism and Consistency with the reporting criteria.
Our Assurance engagement covers the aspects of sustainability performance disclosures demonstrated and presented by the DNL in the
SR (as per GRI 2021) report as mentioned below:
The SR scope of assurance covers the select non-financial sustainability disclosures based on reference criteria, as mentioned
in the following table Disclosures
Topic GRI Indicators
GRI 302- Energy (302-1, 302-2, 302-3, 302-4, 302-5)
GRI 303- Water & Effluent (303-3, 303-4, 303-5)
Environment GRI 304: Biodiversity
GRI 305- Emissions (305-1, 305-2, 305-3, 305-4, 305-5, 305-6, 305-7)
GRI 306-Waste (306-3, 306-4, 306-5)

GRI 401- Employment (401-1, 401-2, 401-3)
GRI 402- Labor Management Relations (402-1)
Social GRI 403- Occupational Health & Safety (403-8, 403-9, 403-10)
GRI 404 – Training Education (404-1, 404-2, 404-3)
GRI 405: Diversity and Equal Opportunity
GRI 201 General Disclosures,
GRI 204: Procurement Practices
GRI 205 Anti-Corruption (205-3),
GRI 206: Anti-competitive Behavior
Governance
GRI 301- Material Topics (301-1),
GRI 308 -Supplier Environmental Assessment,
GRI 414- Supplier Social Assessment
GRI 418: Customer Privacy
Inherent Limitations and Exclusions
There are inherent limitations in an assurance engagement, including, for example, the use of judgement and selective testing of data.
Accordingly, there are possibilities that material misstatements in the sustainability information of the Reports may remain undetected.
TÜV SÜD has relied on the information, documents, records, data, and explanations provided to us by DNL for the purpose of our review.
The Assurance scope excludes the following:

Page 3 of 4
• Our engagement did not include an assessment of the adequacy or the effectiveness of DNL’s management on Sustainability related
issues and not even DNL’s strategy for sustainability. During the assurance process, TÜV SÜD did not visit any external stakeholder’s
premises, however few external stakeholders were interviewed as a part of the SR Report verification engagement.
• Review of the economic performance indicators included in the Report which we have been informed of by the Company, is derived
from the Company's audited financial records only.
• Data and information falling outside the defined reporting period (April 1, 2023, to March 31, 2024).
• The Company's statements that describe qualitative/quantitative assertions, expression of opinion, belief, inference, aspiration,
expectation, aim or future intention.
• Any disclosures beyond those specified in the Scope section above.
Our Responsibility
Our responsibility is to express a limited assurance opinion on the Identified Sustainability Information based on the procedures we have
performed and the evidence we have obtained on the annual SR Report set out in the subject matter paragraph, as disclosed in the report,
as per the principles of the ISAE 3000 (Revised) in accordance with the GRI 2021 requirement and based on the procedures we have
performed and the evidence we have obtained.
The procedures we performed were based on our professional judgment and included inquiries, observation of process followed, inspection
of documents, analytical procedures, evaluating appropriateness of quantification methods, agreeing, or reconciling with underlying data,
etc.
The data is verified on a sample basis, the responsibility for the authenticity of data lies with the reporting organization. Reporting
Organization is responsible for archiving the related data for a limited period.
Our observations
The sustainability disclosures of the Company, as defined under the scope and boundary of assurance, are reliable, valid and the Company
has appropriately consolidated data from different sources at the central level. The Company has made considerable efforts to ensure
consistency of data for this Report; however, the Company may continue to improve robustness of its data collection and collation process
for GHG accounting.
Our above observations, however, do not affect our conclusion regarding the Report.
Conclusion
Based on the scope of this assurance engagement, sustainability performance indicators reported in this SR report we conclude that this
report provides a fair and factful representation of the material topics, related strategies, and meets the overall content and quality
requirements.
TÜV SÜD has evaluated the requirement in context of requirements of the ISAE 3000 (Revised), and in accordance with the GRI 2021
guidelines. Based on the methodology/procedures we have adopted and performed; no deviations have observed that causes us to believe
that the information subject to the limited assurance engagement was not prepared in line with the requirement. We found that the information
and data provided in all the sections and principles are consistent and adequate with regards to the reporting criteria.
Based on the scope of our review, our conclusions are outlined below:
Governance, leadership and supervision: The top management’s commitment, business model promoting inclusive growth, action and
strategies, focus on services, risk management, protection and restoration of environment, and priorities are represented adequately.
Stakeholder Inclusiveness: We have not identified any discrepancies in this aspect. Internal and external Stakeholder identification and
engagement is carried out by DNL on a periodic basis to bring out key stakeholder concerns as material aspects of significant stakeholders.
Materiality: The materiality assessment process has been carried out, based on the requirements of the Assurance Engagements (ISAE)
3000 (Revised), and as per GRI 2021 considering aspects that are internal and external to DNL’s context of the organization. The Reports
fairly bring out the aspects and topics and its respective boundaries of the diverse operations of DNL in our view, the Reports meets the
requirements.
Responsiveness: We believe that the responses to the material aspects are defined and captured in the Reports, in our view, the Reports
meets the requirements.
Completeness: The Reports have fairly disclosed the general and specific standard disclosures including the Disclosure on Management
Approach, monitoring systems and sustainability performance indicators as prescribed in the standards in accordance with the Core
requirement. In our view the Reports meet the requirements.
Reliability: Most of the data and information was verified by the assurance team and found appropriate. Minor inaccuracies in the data
identified during the verification process were found to be attributable to transcription and interpretation errors and these errors were
corrected immediately. Therefore, in accordance with the ISAE 3000 (Revised) assurance engagement, TÜV SÜD concludes that the
sustainability data, parameters, information, and indicators presented in the Reports are reliable and acceptable.

Page 4 of 4
Impact: We observed and assessed that the Company has well-defined procedures to routinely monitor and measure their sustainability
impact, and they have skilled subject matter experts who are driving sustainability effectively and efficiently.
Consistency and comparability: The information in the Report is presented in a consistent and comprehensive method. Thus, the principle
of consistency and comparability is satisfactory.
During verification we did not come across any such instances or issues where we found anything which has an impact on the ecosystem
and well as the neighboring infrastructure. In our view, the Reports meet the requirements.
Our statements do not extend to any disclosures or assertions relating to future performance plans and/or strategies disclosed in the reports.
Our Independence, Ethical Requirements and Quality Control
Our team comprises subject matter experts of multidisciplinary professionals, have complied with independence policies of TÜV SÜD, which
address the requirements of the ISAE 3000 (Revised) in the role as independent Verifier. TÜV SÜD states its independence and impartiality
and confirms that there is "no conflict of interest" regarding this assurance engagement. In the reporting year, TÜV SÜD did not work with
DNL on any engagement that could compromise the independence or impartiality of our findings, conclusions, and recommendations. TÜV
SÜD was not involved in the preparation of any content or data included in the Reports, except for this assurance statement.
TÜV SÜD maintains complete impartiality towards any individuals interviewed during the assurance engagement. We have complied with
the relevant applicable requirements of the International Standard on Quality Control (“ISQC”) 1, Quality.
Statement of Independence, Impartiality and Competence
TÜV SÜD South Asia Pvt. Ltd is an independent professional services company that specializes in Health, Safety, Social and
Environmental & Sustainability services including assurance with over 150 years history in providing these services.
No member of the assurance team has a business relationship with DNL, its directors or Managers beyond that of verification and assurance
of sustainability data and reporting. We have conducted this assurance independently and we believe there to have been no conflict of
interest.
TÜV SÜD has implemented a Code of Ethics across the business to maintain high ethical standards among staff in their day-to-day business
activities.
Attestation,
Dr. Ashish Rawat, Technical Reviewer

Head-Environment, Social & Sustainability Advisory Services
TÜV SÜD South Asia Pvt. Ltd.
374, Udyog Vihar Phase II, Sector -20, Gurugram, Haryana-122016, India
Date: October 1st 2024

Appendix 1
A. Greenhouse Gas (GHG) Emission Indicators for FY 23-24
Scope Sources
Stationary Combustion
Scope 1 Mobile Combustion
Refrigerants
Scope 2 Purchased Electricity
Category 1: Purchased Goods and Services
Category 2: Capital Goods
Category 4: Upstream Transportation and Distribution
Category 5: Waste Generated in Operations
Scope 3
Category 6: Business Travel
Category 7: Employee Commuting
Category 8: Upstream Leased Assets
Category 9: Downstream transportation and distribution

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DNL/ 1 38 / BSE / 1 048 / 2024

Department of Corporate Services

Scrip Code: 506401

Re: Sustainability Report 2023-24

We are pleased to enclose herewith a copy of the Company's maiden Sustainabitity

This is for your Information and record.

DEEPAK NITRITE LIMITED

DEEPAK NITRITE LIMITED

04 About the Report 31 Stakeholder Identification and Engagement

11 Vision and Core Values

12 Awards and Accolades

14 Key Highlights for FY 2023-24

16 Message from the Chairman and

53 Board Structure – Deepak Nitrite Limited

67 Product Stewardship 93 Diversity, Equity and Inclusion

67 Product Innovation 97 Employee Engagement

69 Growth and Profitability 104 Occupational Health and Safety

70 Business Continuity 114 Human Rights

72 Digitalisation and Cybersecurity 115 Community Involvement

74 Sustainable Supply Chain 117 Customer Relationship

76 Environmental Responsibility 118 Appendix I

118 ESG Performance Tables

130 GRI Content Index

91 Biodiversity 135 SASB Content Index

136 Appendix III

136 Independent Assurance Statement

We have reported the information We have adopted a thorough

4 1ST SUSTAINABILITY REPORT 2023-24

About the Company

6 1ST SUSTAINABILITY REPORT 2023-24

Our Plant Locations

Nitrite and Nitroaromatics Division –

Advanced Intermediates Phenolics

Industrial Application Industrial Application

• Colourants • Personal Care • Sanitisers • Laminate and Plywood

• Dyes • Water Treatment • Rubber • Automotive

• Rubber • Glass Industries • Chemicals • Construction

• Paper • Textiles • Paints • Pharmaceuticals

• Agrochemicals • Industrial Explosives • Adhesives

• Pharmaceuticals • Fuel Additives

1ST SUSTAINABILITY REPORT 2023-24 9

Industry Collaborations and Memberships

10 1ST SUSTAINABILITY REPORT 2023-24

Vision and Core Values

Performance Driven Responsiveness

1ST SUSTAINABILITY REPORT 2023-24 11

Awards and Accolades

Deepak Nitrite Limited received a Certificate of Recognition as

DPL awarded with Responsible Care logo for three

Three awards for Health & Safety Excellence, Waste

12 1ST SUSTAINABILITY REPORT 2023-24

NSC Gold Award:

Two teams secured Excellence

Deepak Phenolics Team received

1ST SUSTAINABILITY REPORT 2023-24 13

Key Highlights for

ISO14001 Responsible Care® 47

14 1ST SUSTAINABILITY REPORT 2023-24