annual-report-FY2021

140 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS During the unprecedented COVID-19 pandemic, the organisation has reacted promptly to the health concerns of employees. Our employees' health has always been the Company's priority. There has also been a slew of CSR activities to benet the community at large. Health and Wellness remains the cornerstone of the Company's philosophy to build a strategically proactive workforce. The cornerstones of the Company's employee relations approach are: Ÿ Proactive and employee-centric shop oor practices Ÿ A relentless focus on transparent communication of business goals through monthly Plant Head communication Ÿ An effective concern resolution mechanism Ÿ The rm belief that employees are the most valuable assets of the Company The Company had a total of 19,941 permanent employees st on its rolls as on 31 March, 2021. This year, significant emphasis was laid towards raising awareness on health and wellness of employees and their family members on protection from COVID-19 under the brand’s virtual programme "24/7 Swasth Raho, Mast Raho", in addition to regular annual medical check-ups and health awareness activities. Internal Control Systems Your Company maintains adequate internal control systems commensurate with the nature of its business and size and complexity of its operations. These are regularly tested for their effectiveness by Statutory as well as Internal Auditors. Your Company's Internal Financial Controls are deployed through the Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organisations of the Treadway Commission ("COSO"), that addresses material risks in your Company's operations and financial reporting objectives. The framework is a combination of: Ÿ Entity level controls (including Enterprise Risk Management, Legal Compliance Framework, Internal Audit and Anti-Fraud Mechanisms such as Ethics Framework, Code of Conduct, Whistle Blower Policy, etc.) Ÿ Process level controls Ÿ Information technology based controls Ÿ Period end nancial reporting Ÿ Closing controls