Akzo Nobel India : BRSR 2022-23

Overview

Statutory Reports

Standalone Financial Statements

Consolidated Financial Statements

Annexure II-A

Business Responsibility and Sustainability Report (BRSR)

(In terms of Regulation 34(2)(f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015)

This BRS Report follows the National Voluntary Guidelines on social, environmental and economic responsibilities of business, as notified by the Ministry of Corporate Affairs, Government of India, which laid down the following principles:

SECTION A: GENERAL DISCLOSURES

1. Details of the Listed Entity

1. Corporate Identity Number (CIN) of the Listed Entity:

L24292WB1954PLC021516

Principle# P1

P2

P3

P4

P5

P6

P7

P8

P9

Description

Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable

Businesses should provide goods and services in a manner that is sustainable and safe

Businesses should respect and promote the well-being of all employees, including those in their value chains

Businesses should respect the interests of and be responsive to all its stakeholders

Businesses should respect and promote human rights

Businesses should respect and make efforts to protect and restore the environment

Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent

Businesses should promote inclusive growth and equitable development

Businesses should engage with and provide value to their consumers in a responsible manner

2.	Name of the Listed Entity: Akzo Nobel India Limited
3.	Year of Incorporation: 1954
4.	Registered Office address: Geetanjali Apartment, 1st Floor,
	8-B, Middleton Street, Kolkata 700 071, India
5.	Corporate Office address: 9th Floor, Magnum Towers 1,
	Sector 58, Gurugram 122 011, India
6.	E-mail id : [e-mail]
7.	Telephone : [phone]
8.	Website : www.akzonobel.co.in
9.	Financial year for which reporting is being done :
	April 2022- March 2023
10.	Name of the Stock Exchange(s) where shares are listed :
	BSE Limited and National Stock Exchange of India Limited
11.	Paid-up Capital: H455.4 million
12. Name and contact details (telephone, email address) of
	the person who may be contacted in case of any queries
	on the BRSR:

Name	Krishna R
Designation	Wholetime Director and CFO
Telephone number	0124-4852400
Email	[e-mail]

13. Reporting boundary - Are the disclosures under this report made on a standalone basis (i.e. only for the entity) or on

a consolidated basis (i.e. for the entity and all the entities which form a part of its consolidated financial statements, taken together):

The disclosures under this report are made on a consolidated basis.

59

1. Products/Services

14. Details of business activities (accounting for 90% of the turnover):

1. Description of Main No. Activity
   1 Manufacturing

Description of Business Activity		% of Turnover of the entity
Manufacture and sale of paints,		100%
varnishes, enamels or lacquers

15. Products/Services sold by the entity (accounting for 90% of the entity's Turnover):

	S.		Product/Service			NIC Code				% of total Turnover contributed
	No.
	1		Paints, varnishes, enamels or		20221				100%
			lacquers
III.	Operations
16.	Number of locations where plants and/or operations/offices of the entity are situated:
	Location	Number of plants	Number of offices	Number of Depots/	Total
	Sales locations
	National	5	4	28	37
	International	-	2	2	4
17.	Markets served by the entity:

1. Number of locations

Locations	Number
National (No. of States)	24
International (No. of Countries)	4

1. What is the contribution of exports as a percentage of the total turnover of the entity? Exports contribute ~5% of the total turnover of the entity.
2. A brief on types of customers
   We serve broadly 3 types of consumers as below:
3. • Homeowners/Dealers/Distributors/Painters: We offer a wide range of essential products for every situation and surface, including paints, lacquers and varnishes
   • Institutions/Builders/Contractors: Dulux professional range of products serve the builder segment & other institutional decorative paint users.
   • Industrial users: The industrial paints cater to the needs of automotive, consumer durables, structures, machinery, equipment etc.

IV. Employees

18. Details as at the end of the Financial Year

	Employees and workers (including differently abled)
			Total*		Male	%		Female	%
	No. of Employees		1,212		1,047		86%		165		14%
Permanent		1,212		1,047		86%		165		14%
Others		-	-		-		-		-
No. of Workers		506	497		98%		9		2%
Permanent		282		282		100%		0		-
	Others		224		215		96%		9		4%
	1,718	1,544	90%	174	10%
Total
Permanent		1,494	1,329	89%	165	11%
	Others		224		215		96%		9		4%

*Including 3 differently abled male permanent employees

60 Akzo Nobel India Limited

Annual Report 2022-23

	Overview	Statutory Reports	Standalone Financial Statements	Consolidated Financial Statements
19.	Participation/Inclusion/Representation of women
					Total (A)		No. and percentage of Females
						No. (B)		% (B / A)
	Board of Directors				6			1		17%
	Key Management Personnel			3			1		33%
20.	Turnover rate for permanent employees and workers

Permanent Employees

Workers

Male

15%

1%

2022-23

Female

11%

-

Total

15%

1%

	2021-22					2020-21
Male		Female		Total		Male		Female		Total
11%		13%		11%		25%		19%		24%
2%		-		2%		12%		-		12%

For details refer Human Resources and Risk & Opportunities Section under Management Discussion and Analysis

1. Holding, Subsidiary and Associate Companies (including joint ventures)

21. (a) Names of holding subsidiary / associate companies / joint ventures

			Name of the holding /		Indicate whether
				holding/
S.		subsidiary / associate
		Subsidiary/		% of shares held by listed entity
No.		companies / joint ventures
		Associate/ Joint
			(A)
				Venture
	1		Akzo Nobel N.V., Netherlands		Ultimate Holding		74.76% through its wholly owned
					Company		subsidiaries Imperial Chemical
							Industries Limited, United Kingdom
							and Akzo Nobel Coatings
							International B.V., Netherlands
	2		ICI Research & Technology		Subsidiary		25% voting rights, effective control
			Centre (company limited by		Company		is exercised through voting rights of
			guarantee)				related parties.

Does the entity indicated at column A, participate in the Business Responsibility initiatives of the listed entity? (Yes/No)

Yes

Yes

VI. CSR Details

22. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013: Yes

1. Turnover (in H mn) 38,021
2. Net worth (in H mn) 13,156

VII. Transparency and Disclosures Compliances

23. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

Stakeholder group from whom complaint is received

Communities

Grievance Redressal Mechanism in Place (Yes/ No) (If Yes, then provide web-link for grievance redress policy)

Email: customercare.india@ akzonobel.com

FY 2022-23

Current Financial Year

No. of		No.of
	complaints
complaints
filed		pending	Remarks
	resolution
during the		at close of
year
		the year

FY 2021-22

Previous Financial Year

No. of		No.of
	complaints
complaints
filed		pending		Remarks
	resolution
during the		at close of
year
		the year

Investors (other than shareholders)

Helpline: 1800 3000 4455; Through local NGO partners Email: [e-mail]

-	-	-	-	-	-
-	-	-	-	-	-

61

Stakeholder	Grievance Redressal
group from	Mechanism in Place (Yes/
whom	No) (If Yes, then provide
complaint is	web-link for grievance
received	redress policy)

FY 2022-23

Current Financial Year

No. of	No.of
complaints
complaints
filed	pending	Remarks
during the	resolution
at close of
year
	the year

FY 2021-22

Previous Financial Year

No. of		No.of
	complaints
complaints
filed		pending		Remarks
	resolution
during the		at close of
year
		the year

Shareholders

Employees and workers Customers *

Value Chain Partners

SEBI, Stock Exchange, Registrar and Share Transfer Agent,

Email:

[e-mail] Speak up (Vigil Mechanism)

Email: customercare.india@ akzonobel.com

Helpline: 1800 3000 4455

Email: customercare.india@ akzonobel.com

Helpline: 1800 3000 4455

10

5

2,441

-

-

3

639

-

-	10	-
-	7	4
-	1,822	194	-
-	-	-	-

*Company has tracked & reviewed Customer Complaints for FY 2022-23 for all the Business units

24. Overview of the entity's material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or mitigate the risk along- with its financial implications.

Please refer Risks & Opportunities in the Management Discussion and Analysis section.

62 Akzo Nobel India Limited

Annual Report 2022-23

Overview Statutory Reports Standalone Financial Statements Consolidated Financial Statements

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

Disclosure Questions

P 1

P 2

P 3

P 4

P 5

P 6

P 7

P 8

P 9

Policy and management processes

1.

a. Whether your entity's policy/policies cover each

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

principle and its core elements of the NGRBCs#

b. Has the policy been approved by the Board?

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

c. Web Link of the Policies, if available

https://akzonobel.co.in/corporate-governance.php#policy

2.

Whether the entity has translated the policy into

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

procedures*

3.

Do the enlisted policies extend to your value chain

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

partners?

4.

Name of the national and international codes/

Your

Company's

manufacturing facilities and office premises have well

certifications/ labels/ standards (e.g. Forest

defined Environment, Health, Safety and Quality Management systems

Stewardship Council, Fairtrade, Rainforest Alliance,

in place with stringent internal standards and are also certified with

Trustee) standards (e.g. SA 8000, OHSAS, ISO,

international standards

BIS) adopted by your entity and mapped to each

ISO 45001 (OHSAS)- Occupational Health and safety Management system

principle.

ISO 9001- Quality Management system

ISO 14001- Environmental Management system

Our products are certified as per BIS

5.

Specific commitments, goals and targets set by the

Globally, AkzoNobel is committed to the following by 2030-

entity with defined timelines, if any.

• reduce our carbon emissions by 50%

• utilize 100% of our energy requirements from renewable sources

• move towards zero waste

6.

Performance of the entity against the specific

Your Company follows a series of Environmental Performance Indicators

commitments, goals and targets alongwith, reasons

(as referred in various places of this report) to monitor its efforts for

in case the same are not met

sustainable use of natural resources in manufacturing.

Governance, leadership and oversight

7.

Statement by director responsible for the business

Refer Chairman and MD statements

responsibility report, highlighting ESG related

challenges, targets and achievements

8.

Details of the highest authority responsible for

The Board of Directors of the Company oversee the implementation of the

implementation and oversight of the Business

Business Responsibility Policy(ies).

Responsibility policy (ies).

The sustainability agenda of your Company is spread across various Board

Committees.

9.

Does the entity have a specified Committee of the

No specified committee. However, the Managing Director is responsible for

Board/ Director responsible for decision making on

decision making on sustainability related issues

sustainability related issues?

10. Details of Review of NGRBCs by the Company:

Subject for Review

Performance against above policies and follow up action**

Compliance with statutory requirements of relevance to the principles, and rectification of any non- compliances

Indicate whether review was undertaken by

Director / Committee of the Board/Any otherFrequency Committee

P 1 P 2 P 3 P 4 P 5 P 6 P 7 P 8 P 9 P 1 P 2 P 3 P 4 P 5 P 6 P 7 P 8 P 9

C/B

C/B

C/B

C/B

C/B

C/B

C/B

C/B

A

A

A

A

A

A

A

A

A

C/B

C/B

C/B

C/B

C/B

C/B

C/B

C/B

A

A

A

A

A

A

A

A

A

63