STAKEHOLDER ENGAGEMENT
Working Together for Sustainable Growth
We have identified our key stakeholders as individuals, groups, or organisations who are directly affected by our activities, as well as those anticipated to be reasonably affected as well as those who affect our business. To ensure consistent and effective communication, we have implemented
a well-structured engagement system to provide timely dissemination of accurate and relevant information and facilitate interaction with each stakeholder group.
Our ongoing engagements with our stakeholders demonstrate our commitment to transparency, openness and accountability. These connections help us make better and more informed decisions, build trust, manage risks, enhance our reputation and fulfil our social and environmental responsibilities.
As a Company that cares for each of its stakeholders, such stakeholder engagement exercise helps us enhance the trust we enjoy with each of our stakeholders while fostering collaboration and strengthening our long-term relationships with them. Engaging with our stakeholders provides us with an invaluable opportunity to understand their concerns, address any issues proactively and shape the future course of action. The ability to actively managing relationships through ongoing engagements with stakeholders helps us minimise the likelihood of reputational damage and helps strengthen our brand equity with them.
The feedback from our customers plays a crucial role in driving process improvements, enhancing quality and optimising product performance. Engaging with stakeholders such as some of our marquee customers, large investors, suppliers and regulators allows us to enhance our knowledge and gain insights from an outside perspective. They help us in identifying and mitigating any potential risks or seizing future growth opportunities and thus stay ahead of industry, regulatory developments and changing regulatory environment and circumstances across geographies.
Our engagement with our employees helps us identify their needs and aspirations better and allow us to ensure the talent pool and collaborative skill and expertise are aligned with our future growth plans. By engaging with stakeholders, we understand the social and environmental impacts of our operations better as we solicit feedback on sustainability initiatives and collaborate with communities for finding solutions. This engagement helps us align with stakeholder expectations and contribute positively to society and the environment. We believe we can deliver even greater long-term value, prevent value erosion and promote sustainable growth, while strengthening ourselves further as responsible corporate citizens. It also fosters our belief that we care for all its stakeholders through our well-established stakeholder engagement process.
Our policy for stakeholder engagement is available on the website at https://www.godeepak.com/responsible-chemistry/
Shri Meghav Mehta exchanging MoU signed by Deepak Chem Tech Limited with Government of Gujarat to invest ₹ 5,000 Crores, in presence of the Hon’ble Chief Minister,
Shri Bhupendrabhai Patel, Hon’ble Minister of State (MoS) Home, Shri Harshbhai Sanghvi, Hon’ble Minister of Industries, Shri Balvantsinh Rajput, Hon’ble Additional Chief Secretary Industries, Shri S. J. Haider and Shri Deepak C. Mehta.
Methods of Engagement
What is their Expectation / Desired Outcomes?
- Increased value proposition through improved product quality and affordability
- Reliable and consistent supply
- Prompt responsiveness to customer needs and technical enquiries
- Effective and robust grievance mechanism
- Negotiation on pricing
How are we addressing the needs?
- Fulfilling all contractual obligations by timely delivery of high quality products
- Maintaining consistent product quality
- Maintaining ongoing communication and collaboration to meet evolving needs
- Customising product development to specific requirements
- Expanding operations / footprints to meet
increasing market demand
Methods of Engagement
- Annual General Meeting
- Investor/analyst meetings/conferences
- Annual Report
- Quarterly earnings concalls
- Media releases
- Company website
- Dedicated investor email address
- Individual communication channels
- Through Registrar and Share
Transfer Agent (RTA)
What is their Expectation / Desired Outcomes?
- Timely and transparent communication regarding the Company’s financial performance
- Anticipate future growth through consistent operating and financial performance
- Maintain financial discipline in line with global best practices
- Uphold high standards of governance and safeguarding minority interests
- Seek value and long-term wealth creation with strong fundamentals and regular dividend payments
How are we addressing the needs?
- Ensuring accurate and transparent sharing of information in a timely manner with all stakeholders
- Achieving steady and sustainable performance through a focussed value creation strategy
- Maintaining the highest standards of Corporate Governance
- Consistent dividend payments
- Fostering value creation by identifying opportunities early, building deep-rooted foundation to deliver consistent growth and withstand external risks and uncertainties
- Transparent reporting through Integrated Report and ESG (BRSR) reporting
Methods of Engagement
- Senior leadership communication sessions
- Performance review and appraisal meetings
- Union meetings for open dialogue and collaboration
- Wellness initiatives promoting employee well-being
- Employee engagement surveys to gather feedback and insights
- Townhall meetings for transparent communication and updates
- Sports events to encourage team building and physical well-being
- Performance awards and recognition
- Social gatherings for employees and their families to foster a sense of community
- Celebration of festivals to promote cultural inclusivity and a positive work environment
- Birthday celebrations to recognise and appreciate employees on their special day
What is their Expectation / Desired Outcomes?
- Professional growth opportunities
- Training and development
- Mental and physical wellbeing and safety
- Fair remuneration and timely payment
- Work-life balance
How are we addressing the needs?
- Strong emphasis on Learning & Development
- Opportunity to grow by setting higher internal mobility targets
- Timely salary payments
- Promoting better Work-life balance
- Special focus on Health and Safety protocols
Methods of Engagement
What is their Expectation / Desired Outcomes?
- Mutually beneficial, long-term relationships
- Transparency in the selection process
- Negotiations on pricing
- Timely confirmation of quantities and
prices, agreement on delivery schedules
and timely payments
How are we addressing the needs?
- Ensuring timely order confirmation and providing clear delivery schedules based on demand and anticipated market prices
- Implementing reverse auction methods to enhance transparency across various SKUs
- Timely payments
- Transparency in selection process and pricing
Methods of Engagement
- Conducting regular community engagement through meetings,
visits and interactions
- Implementing CSR initiatives to foster community involvement
- Utilising demographic surveys to
gather valuable insights and feedback from the community
What is their Expectation / Desired Outcomes?
- Demonstrating sensitivity and responsiveness to urgent community needs
- Promoting equitable and inclusive development practices
- Ensuring compliance with health, safety and environmental performance standards
- Creating job opportunities for local community members
- Engaging in community development activities
- Undertaking corporate social responsibility (CSR) initiatives
How are we addressing the needs?
- Implementing well-structured community development programmes based on thorough needs assessments through CSR initiatives
- Focussing CSR projects on healthcare, education, skill building, livelihood and women empowerment
- Conducting periodic reviews and impact
analyses to evaluate the effectiveness of
the initiatives
Methods of Engagement
- Engaging in meetings with local, state and national government officials and ministries
- Participating in seminars, issuing media releases and attending conferences
- Active membership in industry associations
- Taking up leadership or leading positions to share domain knowledge and foster collaboration across the industry
What is their Expectation / Desired Outcomes?
- Social development and generating employment
How are we addressing the needs?
- Robust governance through Board of Directors having expertise in relevant fields
- Timely and accurate compliance of laws
- Seek opportunities to provide input and insights during the development of new policies, regulations and legislation that impact our industry and the Company
- Participate in consultations and public hearings organised by government, industry bodies, legal bodies, where possible
- Provide well-informed and constructive feedback, backed with evidence and data for fostering growth for the industry
- Stay updated on relevant legislation, policies and regulatory changes that may impact DNL and ensure stringent compliance
