Category: Press Release
Evonith Steel Successfully Completes Refinancing With an Inr 1,700 Crores Facility
07/10/2024
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At Evonith Steel, we’re more than just a steel producer. Our commitment to Corporate Social Responsibility (CSR) runs deep, reflecting our values of environmental, social, and governance (ESG) practices. Led by the visionary Jai Saraf, Chairman at Evonith Steel, our transformative journey is not just about achieving milestones but also about changing lives and setting new industry standards.
We have taken impactful initiatives in livelihood, health, education, and essential infrastructure support. Our rural livelihood program has been a shining success. Aimed at enhancing the income of local communities, we introduced innovative agricultural practices, including drip irrigation, goat houses, biogas plants, and demo plots.
What sets our program apart is its inclusivity. Village Development Committees (VDCs) and Ajeevika Sakhis, active women beneficiaries, play a crucial role in program implementation. Weekly meetings, digital literacy training for women, and the creation of independent business enterprises for self-help groups contribute to sustainable development.
In livelihood programme, we’ve introduced climate-resilient crops and supported goat rearing families, providing bamboo for hygienic goat houses. The ripple effect is visible – improved livelihoods, increased milk production, and sustainable agricultural practices. Our commitment extends to preserving indigenous seeds, fostering self-reliance among rural families.
Our focus on holistic development extends to health, particularly women’s health. Understanding the importance of awareness, we organized a Women’s Health Camp, addressing reproductive health issues. Partnering with Mamta, an organization specializing in sexual health awareness, we’re training individuals in the communities. Regular health camps and workshops on reproductive health underline our commitment to breaking taboos.
An important milestone was the workshop on Reproductive Tract Infections (RTIs) and Sexually Transmitted Infections (STIs) at the Talegaon Primary Health Centre. With enthusiastic community members participating, it marked a step forward in promoting health education and awareness in the Wardha district.
Our mobile health van, conducting free health check-ups and providing basic medication, reaches ten local villages monthly. Health issues such as diabetes and high blood pressure are addressed by our dedicated female doctor and nurse, creating a trustworthy relationship with beneficiaries.
Our commitment to education is exemplified by the partnership with Bhartiya Vidya Bhavan for a peer-to-peer community service program. BVB students spend Saturdays teaching Zilla Parishad school students, fostering holistic development.
Infrastructure repair work in ZP schools and road repairs in villages demonstrate our commitment to essential services. Replicable, scalable, and sustainable initiatives under Schedule 7 reflect our dedication to long-term impact on beneficiaries.
As we continue our growth journey, our commitment to CSR, ESG, and community development remains unyielding. Evonith Steel’s identity is not just defined by steel production; it’s defined by the positive impact we make, one step at a time. Join us in creating a difference that lasts, embodying the true spirit of corporate responsibility.
At Evonith Steel, “Respect for all” is one of our core values, which encompasses “Diversity and Inclusion” (D&I) at the workplace. Our commitment to D&I includes gender, age, culture, and ensures a supportive and inclusive work environment.
We believe that a diverse workforce fosters more productivity, better judgement, improved teamwork, and more creative thinking.
To work towards our commitment to build a more diverse and inclusive workplace, the HR team of Evonith Steel has commenced D&I Journey with rolling out various initiatives such as
D&I pulse survey – to understand employees experience related to D&I at Evonith Steel.
D&I Council – formation of D&I council with a fair representation from Senior leadership, Women employees, young employees etc. The D&I council will help to create and design the D&I strategy for the organization, frame D&I policies and give visibility to D&I across Evonith Steel, the D&I council will also help to address grievances if any related to D&I.
Sensitization Workshops – for D&I are designed for employees of Evonith Steel to help them on their journey to become more inclusive leaders. Employees were covered through several batches of the workshop conducted at Wardha and at Head office.
D&I Policy – The purpose of Diversity & Inclusion policy is to foster a workplace environment that values and celebrates individual.
differences, promotes equal opportunities, and ensures that all individuals, regardless of their background or characteristics, feel included, respected, and valued. The policy aims to create a diverse and inclusive culture that leverages the unique perspectives, experiences, and talents of all members and ensures that “no one get left behind”.
D&I Webinars – through external experts – On the world inclusion day a webinar was organized for all the employees to get an insight on the topic “Embracing D&I – the manufacturing mindset”. This webinar was attended by most of the senior leaders and employees. In addition to the above initiatives our teams are continuously working on improving infrastructure, hiring diverse talent, and enhancing inclusivity in the work environment.
At Evonith Steel, our commitment to a greener future begins with the care of every sapling. We have established a nursery that is now home of nature’s wonders such as Rosa indica, Bougainvillea, Hibiscus, Allamanda, and Mogra and many other species.
Driven by our passion for the environment and love for plants, this initiative directly contributes to reducing the carbon footprint associated with steel production and promotes sustainability. The nursery is a testament to our belief that small steps can make a significant impact on our ecosystem. Currently, the nursery boasts various species of high-temperature, thriving forest, flowering, and hedging plants.
Our commitment goes beyond just nurturing; it extends to sustainability. By collecting and preserving seeds from indigenous forest plants like Neem, Karanj, Sisoo, Jamun, and Badam, the plants we grow are indigenous, seasoned, and require minimal monitoring. This practice not only promotes biodiversity but also reduces expenses, as there’s no need to purchase new seeds each growing season.
Chairman Jai Saraf proudly declares, “The nursery stands as a testament to Evonith Steel’s unwavering dedication to environmental sustainability. By sowing the seeds of oxygen, we are cultivating a breath of fresh air that permeates not just the nursery but the world around it. This is how we nurture a Better Today.” Join us in nurturing a greener and more sustainable world—one sapling at a time.
In the ever-evolving landscape of industrial practices, Evonith Steel aspires to become a new-age steel producer that goes beyond a conventional steel manufacturer but a trailblazer in sustainable waste management. Our commitment extends far beyond meeting regulatory standards; it’s a cultural transformation that places waste accountability at the heart of our organizational ethos.
The non-hazardous waste, slag from the blast furnace is sent to a cement manufacturer. The flue dust generated from the APC systems is reused in the Sinter plant.
The non-hazardous waste, slag from the SMS section is sent to the bricks and paver blocks manufacturer and slag reclamation unit. The slag is used for road making and landfilling of low-lying areas.
The flue dust generated from the SMS section is reused as per requirement in the sinter plant. By adopting the above-mentioned practice, iron ore which is a non-renewable resource has been saved.
Dear Stakeholders,
In the pursuit of sustainable business practices, our commitment to creating an ESG report is a pivotal step towards a brighter future. The objective is to capture all the non-financial risks and opportunities inherent in day-to-day activities. Our focus spans a diverse range of critical issues, from climate change to workplace conditions and ethical conduct. We are united as a team, valuing every individual and investing significantly in their well-being, professional development, and the creation of a safe, and healthy working environment.
ESG strategy not only secures investor confidence and customer loyalty but also reduces operating costs, enhances asset management, and improves our financial performance.
Our approach to Environmental, Social, and Governance (ESG) is pivotal as we navigate the rapidly evolving business landscape. Today, I address key facets integral to our success and our unwavering commitment to sustainability, social responsibility, and the betterment of the Indian economy while caring for our planet.
Aligning our strategy with ESG principles enhances our resilience in a changing world. I extend my gratitude to our Evonith Steel family for their dedication. Together, we can make a positive impact and build a Better Today and, moreover a stronger, and responsible future.
Best regards,
Anil Bangur
Director, Evonith Steel
In crafting the design theme for our Inaugural ESG Report, Evonith Steel sought inspiration from the timeless and symbolic Warli Art. It is an indigenous form of expression that beautifully encapsulates the essence of community, harmony, and sustainability. In a way, it is the perfect representation of our promise Here for A Better Today and highlights our action pillar, Here for Impact. This is the title of our report.
Rooted in the rich cultural heritage of Maharashtra, Warli Art, with its simplicity and authenticity, aligns seamlessly with our commitment to sustainability. The interconnected figures in the art form symbolize the close relationship between nature and humanity, echoing our dedication to responsible environmental stewardship and community engagement.
The Warli motifs not only adorn our report but also serve as a visual representation of our journey towards creating a sustainable future. By integrating this art form, we showcase how our company embraces serves as a visual narrative, illustrating our journey towards responsible environmental practices, inclusive social initiatives, and robust governance standards.
To close, the strokes of Warli Art on the pages of our Sustainability Report tell a compelling story — a narrative that celebrates our current efforts towards environmental, social, and governance values, and will also serve to inspire us to continue in our efforts to create a legacy that harmonizes industry progress with sustainability.
Dear Stakeholders,
It is with immense pride that we unveil Evonith Steel’s inaugural Environmental, Social, and Governance (ESG) Report, a momentous milestone that signifies our unwavering commitment to ESG principles throughout our organization. This report is a comprehensive reflection of our journey, providing invaluable insights into the progress made, results achieved, and our future commitments.
At the core of Evonith Steel’s ethos are our clearly defined values: Here for All – Here for People, Here for Impact, Here for Excellence. Our dedicated cross-functional ESG committee, comprising 12 members, ensures the pervasive integration of these principles across our organization, aligning our focus areas with our core values.
We have instituted specific programs to exemplify our dedication, ranging from prioritizing worker safety and supporting local communities to reducing our carbon footprint. Highlighted below are key initiatives that underscore our commitment:
Health and Safety: Our Occupational Health and Safety (OHS) management systems adhere to global standards, with a focus on achieving zero harm through Hazard Identification Risk Assessment (HIRA) and safety techniques.
Diversity and Inclusion: The independent D&I Committee, consisting of 28 cross-functional members, actively promotes diversity and inclusion through training programs and talent acquisition, with a specific emphasis on empowering our female colleagues.
Addressing Climate Change: We actively reduce our carbon footprint, enhance energy efficiency by focussing on processes, technology & risk assessment. We adhere to ISO 50001 standards, involving employees at all levels in energy management.
Managing Water Resources: Responsible water usage practices are integral to our ESG framework, considering environmental and biodiversity impacts.
Vocal for Local: We prioritize local procurement from micro, small, and medium-sized enterprises (MSMEs) to support local economies.
Business Ethics: Upholding the highest standards of integrity, transparency, and accountability.
Corporate Social Responsibility: Commitment to community well-being is demonstrated through initiatives in education, healthcare, and socio-economic development, focusing on ten nearby villages.
Our report provides an in-depth exploration of the actions taken and outcomes achieved, showcasing Evonith Steel’s evolution into a sustainable and growth-oriented company. This journey towards financial and operational discipline strengthens our commitment to creating a Better Today for All. Through this report, we extend transparency and insight into our sustainability initiatives and future commitments.
To our valued stakeholders — employees, contractors, communities, suppliers, customers, partners, shareholders, and investors — we express sincere gratitude for your unwavering support. At Evonith Steel, we remain steadfast in our dedication to excellence, both in financial performance and meeting ESG targets.
As we anticipate the future, we stand firm in our commitment to our values. Together, we will shape a sustainable, prosperous, and impactful future. We encourage each stakeholder to delve into the report and join us in our pursuit of excellence, making a meaningful difference in the world.
Yours sincerely,
Jai Saraf
Chairman, Evonith Steel