Sustainability
We are delighted to present the second Sustainability Report of Highway Roop Precision Technologies Ltd. Since our inception in 1992, we have specialized in manufacturing auto steering parts. Over the years, we have evolved into the world's leading producer of hot forged yokes and established India's first fully automated axle drive shaft facility in Manesar. With more than three decades of experience, we have developed unparalleled engineering expertise and deep insight into the intricacies of manufacturing critical automotive components, driving both innovation and excellence in the industry.
In the fiscal year 2023-24, we experienced substantial growth in our domestic business, which now constitutes 30% of our total revenue. With respect to our international business, North America continues to be our primary export market, followed by Europe. Our commitment to operational excellence across multiple sites was recognized through numerous awards and accolades, further reinforcing our position as an industry leader in our product segment.
Following are some insights of our automotive achievements during the year 2023-24:
- EHS Performance: Recognized at the 58th ACMA Excellence Awards and 9th Technology Summit for excellence in Environment, Health and Safety (EHS).
- Quality Performance: Our teams at IMT Manesar Unit-1 and Unit-2 received the "Gold Award" at the 13th CCQC Competition organized by QCFI in Jaipur, the "TQM" and "Kaizen Conclave Award" and the "Platinum Award" at the National Poka-Yoke Competition, amongst several other prestigious honours.
- Social Impact: Recognized with prestigious awards, including "Best CSR Impact Maker of the Year", a commendation from the Governor of Haryana for our Corporate Social Responsibility (8CSR9) initiatives and accolades from the Lotus Petal Foundation for our efforts in empowering futures and driving meaningful impact.
- Diversity and Inclusion: Awarded the "Great Place to Work Certification", the Bronze Award for the "Workplace Equality Index" at ASSOCHAM's 4th Diversity and Inclusion Conclave, along with other notable distinctions.
- Human Resources (HR) Excellence: Achieved "Platinum Awards" at the 7th CII National HR Circle Competition 2023, acknowledging our leadership in human resources practices.
- Information Security and Data Privacy: Achieved ISO 27001:2013 certification and recognition by TISAX for our commitment to information security and data privacy.
These accolades are a strong testament to our relentless commitment to quality, environmental stewardship, employee well-being and social performance. The true essence of our success lies in the dedication and collaborative spirit of our team members, who consistently strive for excellence. We are immensely proud of their achievements and look forward to reaching even greater heights in the future.
To further strengthen our market position and drive accelerated growth, we are pursuing a strategic joint venture this year: Roop Namyang Steering Systems India Private Limited (RNSSIPL), in partnership with Namyang Nexmo, a globally recognized leader serving the evolving needs of top automotive Original Equipment Manufacturers (OEM). This collaboration will enhance our capabilities and reinforce our commitment to innovation. As we look to the future, our focus on sustainability remains unwavering and we are excited about the opportunities that lie ahead in this journey.
Management Team
MR. MOHIT OSWAL
Chairman & Managing Director
MR. GAURAV JAIN
Director and Chief Sustainability Officer (CSO)
Our culture is the foundation that unites us
A key pillar of our success is fostering a work culture that empowers our teams. Embracing the challenge of continuous improvement, we sought validation through both employee feedback and external evaluation. We are proud to have earned the prestigious Great Place to Work certification, a testament to the positive, inclusive work environment we have built over the years, supported by our strong human resource policies. This achievement reflects our ongoing commitment to employee well-being and organizational excellence.
Expanding our focus through a sustainability lens
In 2023-24, we took deliberate steps to embark on our sustainability journey. In addition to the awards and recognitions as mentioned above, we are proud to announce that our Chennai site has achieved GreenCo certification and we intend to extend the similar initiative across all our locations. We are in the continuous process of re-evaluating our initiatives in all facets of our operations through sustainability lens, emphasizing its critical role in driving our growth and enhancing our commitment towards environmental sustainability. In this second sustainability report, we reaffirm our deep commitment to generating lasting value for all set of our stakeholders viz. customers, employees, investors, suppliers and the communities we serve. Our Sustainability Strategy reflects our commitment to being a proactive corporate citizen and making a meaningful impact on the world. At Highway Roop Precision Technologies Ltd., we understand that true business success extends beyond financial performance; it encompasses environmental stewardship, social responsibility and the well-being of our supply chain and the communities we engage with.
We are aligning our Sustainability Strategy with industry's key material issues and accordingly we are dedicating our efforts to become Net Zero by 2040, which in turn would support India's ambitious goal of achieving Net Zero by 2070 in the following manner:
- Reducing Scope 1 emissions by 2030.
- Neutralizing Scope 2 emissions in manufacturing processes by 2025 with Renewable Energy (RE) 100.
- Achieving net zero emission by 2040, including upstream and downstream of our value chain.
- Implementing a climate change mitigation plan for a 1.5°C scenario.
- Achieve zero discharge across all plants by 2025.
- Promoting environmental protection actions among communities outside our operation through afforestation, protection of water bodies and solid waste management.
These commitments reflect our dedication to sustainability and our proactive approach to addressing climate change.
We remain confident that, through our collective efforts, ongoing customer feedback and the innovative strategies implemented by our ESG Central Steering team, we will continue to meet our sustainability goals. Our commitment to being a responsible corporate citizen has increasingly defined our success and this principle has been warmly embraced by our customers. We are proud of the progress made in our journey and with sustained dedication, we are poised to achieve further improvements in our environmental impact.
As we advance into our second year of reporting, we reaffirm our belief in the moral responsibility to leave a better planet for future generations. Our focus remains on reducing our consumption of natural resources and setting an example for our communities. While we strive for reductions, we are also committed to controlling and replenishing our resource use. With determined effort and intentional actions, we are confident that we can continue to make a significant and positive impact.
This embodies the spirit of Highway Roop Precision Technologies Ltd. as we advance on our sustainability journey, embracing the collective ethos of 'miles to go before we rest’.
Together, let’s create a tomorrow that's brighter than today.
Sustainability Performance - FY 2023-24
