Active engagement with stakeholders is crucial for our Company to achieve our strategic objectives effectively. By involving stakeholders actively, we gain valuable insights into their expectations and can address concerns promptly and comprehensively. This engagement ensures that we remain responsive to the needs and priorities of our stakeholders.
Categories of key stakeholders identified
at regular intervals
1. Describe the processes for identifying key stakeholder groups of the entity.
The Company has identified its stakeholders which are largely bifurcated as employees, communities, shareholders / investors, Government authorities and Regulatory Bodies, Suppliers & contractors, customers & community at large.
2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group.
Stakeholder Group | Whether identified as Vulnerable & Marginalised Group (Yes/No) | Channels of communication (E-mail, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website, Other) | Frequency of engagement (Annually/ Half yearly/ Quarterly/ others – please specify) | Purpose and scope of engagement including key topics and concerns raised during such engagement |
---|---|---|---|---|
Employees | No | Company’s policy, emails and internal meetings and interactions | Regular/ Ongoing | Training requirements, Working environment, safety Compliance, Efficiency of operations, employee well being |
Shareholders and Investors | No | Disclosures on the website of the Company and to the Stock Exchanges/ Newspaper Advertisements etc which are available in public at large | Annual, half year, quarterly and need base | Business Updates, Financial & non financial (ESG) performance, Opportunities for growing the portfolio |
Government authorities and Regulatory Bodies | No | Regulatory filings, Facility inspections | As per applicable rules/ regulations | Audit and inspections requirements, Policy requirements |
Suppliers and contractors | No | Meetings, Visits, Supplier/ contractor audits, Facility visits, emails and interactions | Regular/ Ongoing | Business updates & requirements, Payment timelines, Capacity building on SG aspects, Grievance mechanism platform |
Customers | No | Advertisement, Digital and social media connect, Website, Phone calls, e-mails and meetings | Ongoing/ Need base | Product details, Product pricing, Product feedback, New product development, Better service |
Community | No | CSR projects | Regular/ Ongoing | Healthcare, Education, Mutual rewarding relationship with the Industry/ Company, Optimal utilisation of resources sourced locally |