annual-report-FY2020

102 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS • Awareness creation through e-mailers, wall papers, posters and slogans. • Spreading the importance of energy conservation in nearby schools and colleges. (ii) The steps taken by the Company for utilising alternate sources of energy: For the year under review, your Company has sourced 15.3 MW power from renewable energy sources (9 MW from Solar and 6.3 MW from Windmills). Power from renewable sources is 7.2% of total power consumption and mitigates 15,005 tons of CO2e. Your Company has set a target to increase the share of renewable energy to ~15% by Financial Year 2022. (iii) The capital investment on energy conservation equipments: For the year under review, your Company implemented various projects towards Energy Conservation, to the tune of Rs. 29.3 crores (Rs. 9.3 crores as CAPEX and Rs. 20 crores through the OPEX route). These projects include Energy efficient AC’s, compressor heat recovery, energy efficient motors, pumps and many more energy conservation initiatives. (B) Technology Absorption (i) The efforts made towards technology absorption: Your Company is committed towards technology driven innovation and inculcating an innovation driven culture within the organisation. During the year under review, your Company continued to work on advanced technologies, upgradation of existing technology and capability development in the critical areas for current and future growth. In the Automotive Sector, special focus was given on BS6 emission technologies, gasoline engine, CNG technologies, safety technologies, alternative materials, automotive electronics and connected vehicles. In Farm Equipment Sector, technology areas such as intelligent tractors, new electronic architecture were given special emphasis. This would help in making the Company’s products retain their competitive edge in the market in the coming years. Your Company continues to invest in technology development and patent acquisitions. For the year under review, your Company filed a total of 185 patent applications. Cumulatively, your Company has filed 1,453 patent applications so far. The Company’s total patent granted portfolio stands at 125 currently across multiple geographies and has significantly grown over last few years. 0 10 20 30 40 50 F18 F19 F20 5 13 50 Number of Patents Granted YoY (ii) The benefts derived like product improvement, cost reduction, product development or import substitution: The efforts taken by your Company towards technology development and absorption help deliver competitive advantage and market leadership through the launch of customer centric products and variants, introduction of new features and improvement of product performance. Some examples of results delivered in the year 2019-20 are: Automotive Sector • Timely readiness of product portfolio for migration to BS6 emission norms. • Launch of XUV300 (export variant), AMT for XUV300, New Bolero City Pik-Up and Supro Minitruck CNG. • Development of in-house capabilities on complex diesel after-treatment systems development, OBD (on-board diagnostics), RDE (real driving emissions). • Development of multiple friction reduction technologies to improve fuel economy. • mStallion range of future ready BS6 compliant Gasoline Engines across three engine platforms - G12, G15 and G20.