annual-report-FY2021

112 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS • Celebration of Founders’ day with specific theme based on Energy and Sustainability. • Organizing various competitions to engage employees like ECO warrior, posters, slogans, suggestions, and quiz. • Sustainability awareness for family members of Employees. • Enhance learning through digital platforms like E learning, Webinars. • Awareness creation through e-mailers, wall papers, posters, and slogans, etc. (ii) The steps taken by the Company for utilizing alternate sources of energy F or the year under review, your Company has sourced 18.8 MWp Solar power and 10.7 MW Wind power contributing to 9.56% of total power consumption and mitigating 22,308 tons of CO2. Y our Company has set a target to increase the share of renewable energy to around 15% by Financial Year 2022. (iii) The capital investment on energy conservation equipments F or the year under review, your Company implemented various projects towards Energy Conservation, to the tune of Rs. 32.25 crores (Rs. 7.25 crores as CAPEX and around Rs. 25 crores through the OPEX route). These projects include Energy efficient motors, compressor heat recovery, energy efficient pumps, VFD’s and many more energy conservation initiatives. (B) Technology Absorption (i) The efforts made towards technology absorption: Y our Company is committed towards technology driven innovation and inculcating an innovation driven culture within the organisation. D uring 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 Vehicle Energy Management technologies, Weight management technologies, electrification technologies, safety technologies, automotive electronics and connected vehicles. In Farm Equipment Sector, technology areas such as intelligent tractors, smart implements and 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. Y our Company continues to invest in technology development and patent acquisitions. For the year under review, your Company filed a total of 138 patent applications. Cumulatively, your Company has filed 1,591 patent applications so far. The Company’s total patent granted portfolio stands at 202 currently across multiple geographies and has significantly grown over the last few years. 0 10 20 30 40 50 60 70 80 90 100 F18 F19 F20 F21 5 13 50 77 Number of Patents Granted YoY (ii) The benefts derived like product improvement, cost reduction, product development or import substitution: T he 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. S ome examples of results delivered in the year 2020-21 are: Automotive Sector • Launch of Marazzo Diesel, XUV3OO AMT, Alturas G4, all new Thar, Alfa Diesel, Bolero and Scorpio Pik-up, Supro Star and Jeeto Load. • Vehicle Energy Management CoE established to drive CAFÉ 2022 plan for all platforms.