Progressing towards Carbon Neutrality
Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:
Information required under section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is given herein below:
- A. Conservation of Energy
There is constant focus at all level in the organization to conserve the energy and use it efficiently. This is also key to financial success, as energy is one of the important cost element of conversion cost. Your Company has been implementing short- and long-term actions to improve the energy efficiency as its commitment towards minimizing the effects of factors of climate change. It has grounded mechanism to excel in this area. Regular review is conducted for evaluating the progress and effectiveness of various ongoing initiatives to reduce the energy consumption.
Energizing Low Carbon, Sustainable Operations
Sintercom has tied up with M/s RMK Infrastructure and has successfully commissioned captive solar power projects in Village Mangrul, Tal Maval, Pune with plant capacity of 1 MW power generation. This project is estimated to generate around 2 million kWh of electricity per year helping to reduce Sintercom’ s carbon footprint by approx. 1900 tonnes of CO2 emission per year.
- B. Technology Absorption
The Company has entered into Joint Venture agreement with M/s MIBA Sinter Holding Gmbh & Co KG, Austria. The Company has also entered into technology agreement with MIBA Austria. Under this agreement, the MIBA has transferred technology for development of high strength sinter hardened Synchro hub, Cam to Cam gears and Cam to Cam Backlash Gears. The plant has been designed to suit the said technology. The products using these technologies have demand in Indian market. The Company continuously run inhouse programs for product improvement, cost reduction, product development or import substitutions. The Company also takes help of external consultants whenever required on these aspects. During the year under review, the Company incurred Rs. 1,718,871/- on research and development.