MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

201 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS S. No. Material issue identified Indicate whether risk or opportunity (R/O) Rationale for identifying the risk opportunity In case of risk, approach to adapt or mitigate Financial implications of the risk or opportunity (Indicate positive or negative implications) 5 Health and Safety R The Company is committed to zero- accidents at the workplace. However, certain risks as under have been identified: a. Overall being old plant Space constraint b. D epletion of skills due to retirement and deployment of new contract/trainee workmen c. L ess exposure to Latest Technology and high dependency on Manual Activities d. L ack of contingencies of critical equipments/old equipments The Company is a people-first company and strives to mitigate the plant’s risks arising from health and safety issues. The Company incorporates high safety standards for safe working conditions to achieve an inter- dependent safety culture. To avoid unsafe incidents, the Company has adopted key safety standards, safety tools and practices, including: 1. ISO 45001 certification for all sites 2. Implementing Mahindra safety standards with global benchmarking in all manufacturing operations 3. Work proactively towards eliminating health and safety concerns of the workforce 4. Installing cutting edge and the latest firefighting systems at the plants 5. Improving and developing safety skills by creating safety awareness, conducting trainings and dexterity of machining, assembly, safety in material handling 6. Instituting safety mechanisms based on the recognized Kaizen and Poka-Yoke concepts 7. Promoting proactive measures to prevent accidents and occupational hazards such as SOTs, internal audits, safety assessments and regular reviews 8. Rewarding and recognizing commendable achievements in the filed of Health and Safety The Company’s focus is not only on physical health, but also on the mental health and well-being of employees. The Company creates awareness, provides information, assists employees with counselling, provides them with therapy and training, engages with them on a regular basis on new realities and emotional challenges they face daily under the below- listed health and wellness pillars: 1. Physical Health 2. Food and Nutrition 3. Psychological well-being 4. Way 2 wellness Negative Implications: The consequences of poor health and safety in the workplace have an impact on the safety of the employees. Work-related illness or injury not only puts an employee out of work for a while and impacts their quality of life, it may also damage the business’s productivity, finances and reputation.