Sustainability Goals
Painting a Sustainable Future
Pioneering Sustainability With A Bold Agenda
Our objectives focus on addressing pressing global concerns, such as our commitment to combat climate change by lowering our greenhouse gas emissions, improving energy efficiency, and embracing renewable energy sources. We’re also dedicated to minimizing waste and maximizing water reuse. Concurrently, we’re bolstering our corporate culture to foster inclusion, diversity, and equity. We maintain an unwavering commitment to enhancing occupational health and safety standards, and we’re dedicated to strengthening our engagement with the communities in which we operate.
Our Environmental Goals
Our Environmental Goals
Our environmental goals encompass various aspects, from combating climate change to promoting inclusion and diversity, all while enhancing the well-being of our communities.
Environmental Goals
- Aim to become Net Zero by 2050.
- Commitment to make all manufacturing plants accessible to renewable energy by FY28.
- Committed to science-based targets initiative (SBTi) to set science-based targets.
- Aim to reduce transportation emissions and promote EV adoption in supply chains.
- Increased usage of rainwater and recycled water in the process.
- Ensured 100% compliance with waste disposal regulations by partnering with CPCB-authorized vendors.
- Launching recycled paint cans for selected product segments in FY25.
- Reusing dolomite bags from cement suppliers for outbound shipments, aligning with circular economy practices.
- Focusing on diverting substantial waste from landfills.
Social Goals
- Increase our CSR expenditure by approximately 27% in FY25 compared to FY24.
- Remain committed to increasing employee satisfaction.
- Expand educational scholarships and academic mentoring to support more underprivileged girls.
- Scale up Indigo Seva Utsav by increasing painter-community volunteering to repaint more neighbourhood schools across India.
- Enhance cancer healthcare and palliative care support for marginalized communities near the Kochi factory.
- Broaden the Painter Health Benefit Program to cover more painters and dependents, easing financial burden for critical treatments.
- Maintain high safety standards to achieve zero accidents/incidents in the coming years.
Governance Goals
- Maintain a robust, proactive risk management framework led by the Risk Management Committee.
- Ensure zero breaches of the Code of Conduct across all our locations.
- Ensure 100% statutory and regulatory compliance across all functions to reinforce business integrity.
- Uphold a zero-tolerance ethical culture through the Board-approved Code of Conduct
- Promote trust and accountability through a strong Whistle Blower Mechanism.
- Strengthen Board independence and diversity, ensuring balanced representation across independent/non-independent directors and gender mix.
Materiality
Indigo Paints recognizes the pivotal role of materiality assessment in discerning the critical areas that profoundly influence our business performance and stakeholder interests. Through an extensive materiality assessment process, we delve into key environmental, social, and governance (ESG) issues that resonate most with our stakeholders. This comprehensive engagement enables us to pinpoint material topics crucial for our organization. We remain steadfast in our commitment to addressing these issues.
Material Topics
Our focus revolves around seven material topics identified during previous assessments, guiding our efforts to create sustainable value for our stakeholders.
These topics include:
- Energy Management
- GHG Emissions
- Water Management
- Waste Management
- Community Welfare
- Health and Safety
- Board Structure and Management
GHG Emissions
We are committed to global efforts to combat climate change by actively reducing its carbon footprint. Managing and lowering greenhouse gas (GHG) emissions is a central pillar of our environmental stewardship and long-term business strategy. Through energy efficiency, renewable energy adoption, and natural carbon sinks, we are taking tangible steps toward a low-carbon future.
- Engaged an independent third-party named Sprih to assess and monitor our Scope 1, 2, and selected Scope 3 emissions
- Initiated Scope 3 emissions accounting, beginning with few major contributing categories
- Planted and maintaining 1000+ trees at our facilities, with an estimated offset potential of ~1000 tCO2e
- Maintaining a green belt of ~3,786 trees over 7.76 acres of SIPCOT-allotted land
- Continued investments in renewable energy systems and energy efficient equipment to reduce Scope 2 emissions
Performance
| Particulars | FY 24-25 | FY 23-24 |
|---|---|---|
| Scope 1 Emissions (tCO2e) | 58.52 | 29.45 |
| Scope 2 Emissions (tCO2e) | 5,127 | 4,620 |
| Emission Intensity (tCO2e/crore ₹ revenue) | 4.06 | 3.71 |
| Emission Intensity (tCO2e/KL of FG) | 0.027 | 0.022 |
Energy
We are committed to reducing our energy footprint through continuous monitoring, efficiency improvements, and the integration of renewable energy across all operations. Energy optimization remains a cornerstone of our environmental management strategy.
- Conducted detailed energy audits at Jodhpur Unit-II and Cochin facilities
- Implemented audit recommendations by installing high-efficiency equipment
- Commissioned a 20 kW rooftop solar power system at our Pune headquarters
- Installed 330 kW solar power plants at Cochin
Performance
| Particulars | FY 24-25 | FY 23-24 |
|---|---|---|
| Total Energy Consumption (GJ) | 26,171 | 23,597 |
| Specific Energy Consumption (GJ/KL of FG) | 0.13 | 0.11 |
| Energy Intensity per Unit Revenue (GJ/crore ₹ revenue) |
20.49 | 18.80 |
Water
Water is a critical resource, and its responsible use is a top priority for Indigo Paints. As identified in our materiality matrix, water management reflects our deep commitment to environmental stewardship. We believe that collective action, supported by smart infrastructure and continuous improvement, is essential to conserve this precious resource and ensure its availability for future generations
Performance
- Implemented rainwater harvesting systems at all manufacturing facilities
- Achieved Zero Liquid Discharge (ZLD) status across all plants
- Monitoring Sewage Treatment Plants (STPs) and Effluent
- Treatment Plants (ETPs) in newly developed units for accurate tracking
- Installed rainwater harvesting tank at the Cochin plant, contributed to 87% year-on-year increase in harvested water
- From rainwater harvesting we conserved over 5,583 KL water this year.
- 7,265 KL of water was recycled at manufacturing plants in FY25.
Performance
| Particulars | FY 24-25 | FY 23-24 |
|---|---|---|
| Total Water Consumption (KL) | 64,230 | 78,424 |
| Specific Water Consumption (KL/KL of FG) | 0.33 | 0.38 |
| Water Intensity Per Unit Revenue (KL/crore ₹ revenue) |
50.29 | 62.50 |
Waste
With the scale of waste generation in India, effective waste management is both an environmental necessity and a strategic imperative. At Indigo Paints, we view waste not as a burden but as a resource. Our waste management practices aim to reduce waste at the source, optimize resource use, and support the circular economy by promoting reuse, recycling, and responsible disposal.
- Ensured 100% compliance with waste disposal regulations by partnering with CPCB-authorized vendors
- Sold plastic and metal barrels, along with other non-hazardous materials, to third parties for reuse as scrap
- Transitioned from chemical drums to bulk liquid shipments via tankers, significantly reducing single-use containers and enabling return logistics
- Reused dolomite bags from cement suppliers for outbound shipments, aligning with circular economy practices
- Achieved the CPCB-mandated plastics recycling target for the year
- Achieved a 10% increase in total waste recycled in FY25 compared to FY24, strengthening resource efficiency
Performance
| Particulars | FY 24-25 | FY 23-24 |
|---|---|---|
| Total Waste Generated (tonnes) | 1,514 | 1,250 |
| Specific Waste Generated (kg/KL of FG) | 7.80 | 6.04 |
| Waste Generation Per Unit Revenue (tonne/crore ₹ revenue) |
1.19 | 1.00 |
Community Welfare
Community wellbeing and development are central to our identity as a responsible corporate citizen. Our Corporate Social Responsibility (CSR) initiatives are thoughtfully designed to deliver lasting impact in the regions where we operate. Our CSR strategy is deeply embedded within our core business framework, enabling us to respond effectively to societal challenges while staying true to our foundational values. The strategic guidance and execution of these initiatives are overseen by our experienced Board of Directors, ensuring that all efforts are impactful, transparent, and purpose-driven.
Our CSR focus
- Dedicated to empowering underprivileged girls through education scholarships and academic mentoring.
- Beneficiaries supported in FY 2024–25: 170 Girls impacted since inception: 360
- Girls impacted since inception: 360
- Painting of government and low-income schools, improving the learning environment for children from underserved backgrounds.
- Schools repainted across India – 129
- Employee volunteering hours -600+
- Painters and their families volunteered / participated - 4,000+
- A welfare initiative for painters across the community which offers access to basic healthcare coverage, addressing a critical need in the unorganised sector
- Painters and their dependents covered under this program - 25,100+
- We have partnered with a Foundation to offer free dialysis and palliative care services to underprivileged members of the community.
- People benefited from projects: 157
| Particulars | FY 24-25 | FY 23-24 |
|---|---|---|
| CSR Expenditure | ₹ 299 Lakhs | ₹ 235 Lakhs |
Health & Safety
At Indigo Paints, ensuring the well-being of our employees is the absolute top priority. We are wholeheartedly dedicated to creating a safe working environment that not only protects their health but also fosters a culture of well-being. Through a comprehensive and multi-faceted approach, we have cultivated a welcoming workspace that embraces world-class processes and practices, thereby instilling a robust safety culture within our organization.
- Zero fatalities and zero high-consequence work-related injuries or ill-health.
- We installed air showers at Pudukkottai facility.
Board Structure
Acknowledging the pivotal role of our Board of Directors, we understand their significance in shaping the organizational ethos. They are instrumental in establishing our vision, mission, and values, guided by our Corporate Governance guidelines. We prioritize compliance with all relevant regulations, including the SEBI Listing Regulations, the Companies Act, 2013, and other SEBI regulations governing Board composition, Committee formation, and policy formulation and adoption.
Board Independence
| Type | No. of Members | Percentage (%) |
|---|---|---|
| Independent Directors | 5 | 62.5% |
| Non Independent Directors | 3 | 37.5% |
Board Diversity
| Gender | No. of Members | Percentage (%) |
|---|---|---|
| Male | 7 | 87.5% |
| Female | 1 | 12.5% |
Committees
| Board/Committee | Chaired | No. of Members | Independence |
|---|---|---|---|
| Board of Directors | Executive Chairman | 8 | 62.5% |
| Audit Committee | Independent Director | 5 | 80.0% |
| Nomination and Remuneration Committee | Independent Director | 4 | 100% |
| Risk Management Committee | Executive Director | 4 | 25% |
| Corporate Social Responsibility Committee | Executive Director | 3 | 33% |
| Stakeholders Relationship Committee | Independent Director | 3 | 33% |
Risk Management
A dedicated Risk Management Committee is tasked with formulating risk assessment and minimization procedures, offering valuable insights to the Board. Through a proactive approach, the committee formulates, implements, reviews, and monitors the risk management plan for the Company. Our Risk Management Policy serves as a guiding document, fostering sustainable business growth with stability. We maintain an unwavering focus on ensuring 100% compliance with risk management practices.
- We maintain a steadfast focus on ensuring 100% compliance with risk.
Code of Conduct
We are committed to upholding the highest standards of ethical conduct, sustainability, and integrity. Our Code of Conduct, endorsed by the Board of Directors, extends to all Directors, Senior Management members, and employees of the company. This comprehensive code articulates our dedication to operating ethically, legally, and sustainably.
- We recorded zero breaches of our Code of Conduct in FY 24-25
- We have established a Whistle Blower Policy which provides a mechanism for Directors and employees to report any unethical behaviour, fraud, or violations of the Company's Code of Conduct.
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