{ "company_id": "SAGCEM", "company_name": "Sagar Cements Limited", "cin": "L26942TG1981PLC002887", "isin": null, "nse_code": "SAGCEM", "bse_code": "502090", "fy": "2024-25", "vintage_date": "2026-05-27", "registered_office_state": "Telangana", "primary_listing": "NSE/BSE", "brsr_source": { "primary_source_url": "https://sagarcements.in/Integrated-Report-2024-25/assets/pdf/SCL-Integrated-Report-FY-2024-25.pdf", "primary_source_type": "annual_report_brsr_section", "evidence_cache_path": "scripts/primary-source/evidence/sagarcements-in/integrated-report-2024-25-assets-pdf-scl-integrated-report-fy-2024-25-pdf/2026-05-27T04-36-35-701Z", "brsr_pages": "132-160 (within Integrated Annual Report 2024-25)", "fetched_date": "2026-05-27", "fetched_via": "direct", "secondary_validation_source": null, "reporting_boundary": "Consolidated (Sagar Cements Ltd + Sagar Cements (M) Pvt Ltd + Andhra Cements Ltd)" }, "identity": { "incorporated_year": 1981, "primary_business": "Cement & Cement Products", "nic_2_digit": "23", "nse_industry": "Construction Materials", "promoter_group": "Reddy Family", "market_cap_inr_cr_31_mar_2025": null, "market_cap_rank_31_mar_2025": null, "is_top_150_brsr_core_assurance_fy_2324": false, "is_top_250_brsr_core_assurance_fy_2425": null, "is_top_500_brsr_core_assurance_fy_2526_planned": null, "subsidiaries_count": 2, "joint_ventures_count": 0, "associates_count": 0, "subsidiaries_list": [ "Andhra Cements Limited (90%)", "Sagar Cements (M) Private Limited (65%)" ] }, "operations": { "revenue_from_operations_inr_cr": 2257.64, "revenue_from_operations_basis": "consolidated", "revenue_from_operations_source_page": "Directors' Report p.84 / BRSR reporting boundary is consolidated", "turnover_inr_cr_standalone": 1566.64, "net_worth_inr_cr_standalone": 1611.36, "total_income_inr_cr_consolidated": 2279.07, "profit_after_tax_inr_cr_consolidated": -216.68, "profit_after_tax_inr_cr_standalone": -85.48, "financial_performance_note": "Company reported a consolidated loss after tax of INR (216.68) cr in FY 2024-25 vs loss of (52.05) cr in FY 2023-24. No dividend declared due to losses.", "plants_count": 6, "plants_list": [ { "location": "Mattampally, Telangana", "state": "Telangana", "type": "Integrated Plant", "capacity_mtpa": 3.00, "captive_power_mw": 28.15, "whrs_mw": 8.80, "solar_mw": 1.35 }, { "location": "Gudipadu, Andhra Pradesh", "state": "Andhra Pradesh", "type": "Integrated Plant", "capacity_mtpa": 1.25, "captive_power_mw": 31.00, "solar_mw": 6.00 }, { "location": "Jeerabad, Madhya Pradesh", "state": "Madhya Pradesh", "type": "Integrated Plant", "capacity_mtpa": 1.00, "captive_power_mw": 5.40, "whrs_mw": 5.3, "solar_mw": 0.1 }, { "location": "Dachepalli (Andhra Cements Ltd), Andhra Pradesh", "state": "Andhra Pradesh", "type": "Integrated Plant", "capacity_mtpa": 2.25, "captive_power_mw": 30.00 }, { "location": "Bayyavaram, Andhra Pradesh", "state": "Andhra Pradesh", "type": "Grinding Unit", "capacity_mtpa": 1.50, "captive_power_mw": 8.43, "solar_mw": 0.130 }, { "location": "Jajpur, Odisha", "state": "Odisha", "type": "Grinding Unit", "capacity_mtpa": 1.50 } ], "total_cement_capacity_mtpa": 10.50, "branches_count": 12, "states_with_operations_count": 10, "international_operations": false, "international_operations_countries": [], "exports_pct_of_turnover": 0 }, "workforce": { "employees_permanent_male": 1179, "employees_permanent_female": 23, "employees_permanent_total": 1202, "employees_other_male": 2382, "employees_other_female": 93, "employees_other_total": 2475, "workers_permanent_male": 0, "workers_permanent_female": 0, "workers_other_male": 0, "workers_other_female": 0, "workforce_classification_note": "Sagar Cements classifies all on-roll personnel as 'employees' and all contract workmen at facilities as 'Other than Permanent Employees'. Permanent Workers = 0 and Other Workers = 0 in BRSR table 20; the 2,475 contract workmen are reported under 'Other than Permanent Employees'.", "differently_abled_employees": 0, "differently_abled_workers": 0, "median_remuneration_male_employees_inr_lakh": 5.85, "median_remuneration_female_employees_inr_lakh": 6.61, "median_remuneration_ratio_female_to_male": 1.13, "median_remuneration_kmp_male_inr_lakh": 47.33, "median_remuneration_kmp_female_inr_lakh": null, "turnover_rate_permanent_employees_pct": 14.27, "turnover_rate_permanent_workers_pct": 28.45, "wages_above_minimum_wage_pct": 100.0, "gross_wages_paid_to_women_pct_total_wages": 1.85, "calculated_total_workforce": 3677, "calculated_female_workforce_share_pct": 3.15 }, "wellbeing_social": { "wellbeing_spend_as_pct_revenue": 0.26, "wellbeing_spend_inr_cr": 5.87, "wellbeing_spend_source_page": "BRSR P3 Q1c, p.144", "wellbeing_spend_calculation_basis": "0.26% x Revenue from operations consolidated INR 2,257.64 cr", "insurance_group_medical_coverage_pct_employees": 100.0, "insurance_accident_coverage_pct_employees": 100.0, "maternity_benefits_coverage_pct_eligible_female": 100.0, "paternity_benefits_coverage": "No (0% reported)", "day_care_facility_coverage": "No (0% reported)", "pf_coverage_pct": 100.0, "gratuity_coverage_pct": 100.0, "esi_coverage_pct": 100.0, "complaints_posh_received": 0, "complaints_posh_pending_at_year_end": 0, "complaints_posh_upheld": 0, "complaints_child_labour_received": 0, "complaints_forced_labour_received": 0, "complaints_discrimination_received": 0, "complaints_wages_received": 0, "complaints_other_human_rights_received": 0, "complaints_shareholders_received": 122, "complaints_shareholders_pending": 0, "training_hours_on_human_rights_employees_pct": 0.0, "training_health_safety_employees_pct": 100.0, "training_skill_upgradation_employees_pct": 76.29 }, "environment_principle_6": { "energy": { "total_energy_consumption_tj": 14784.81, "non_renewable_energy_tj": 14295.48, "renewable_energy_tj": 489.33, "renewable_energy_electricity_mwh": 62075, "renewable_energy_electricity_tj": 223.47, "renewable_fuel_tj": 265.86, "non_renewable_electricity_mwh": 373404, "non_renewable_electricity_tj": 1344.25, "non_renewable_fuel_tj": 12951.23, "renewable_share_pct": 3.31, "energy_intensity_per_inr_million_turnover_tj": 0.65, "energy_intensity_per_inr_cr_revenue_tj": 6.55, "energy_intensity_per_inr_cr_revenue_gj": 6549.0, "energy_intensity_per_t_cementitious_tj": 0.00254, "specific_thermal_energy_consumption_kcal_per_kg_clinker": 722, "specific_thermal_energy_consumption_mj_per_kg_clinker": 3.022, "specific_electrical_energy_consumption_kwh_per_t_cement": 74.6, "pat_scheme_designated_consumer": true, "pat_targets_status": "Mattampally (achieved 0.0857 vs target 0.0914 TOE/t); Gudipadu (achieved 0.0911 vs target 0.1241 TOE/t); Bayyavaram (target not yet set)" }, "ghg_emissions": { "scope_1_tco2e": 3557140, "scope_2_location_based_tco2e": 198272, "scope_2_market_based_tco2e": null, "scope_1_plus_2_tco2e": 3755412, "scope_3_total_tco2e": 473554, "scope_3_categories_disclosed": null, "scope_3_methodology_note": "Scope 3 disclosed as aggregate only; specific GHG Protocol categories not broken out", "ghg_methodology": "IPCC, India GHG Programme, Defra", "ghg_assurance_provider": "TUV India Pvt Ltd", "ghg_assurance_level": "Limited", "ghg_assurance_standard": "ISAE 3000 (Revised)", "emissions_intensity_per_inr_cr_revenue_disclosed_tco2e": 1663, "emissions_intensity_per_t_cement_tco2e": 0.645, "emissions_intensity_per_t_cement_kg_co2_per_t": 645, "emissions_intensity_per_t_cementitious_kg_co2e_disclosed": 650, "emissions_intensity_per_employee_tco2e": 3124, "scope_3_intensity_per_t_cement_tco2e": 0.083, "scope_3_intensity_per_inr_cr_tco2e": 210, "biomass_emissions_excluded_from_scope_1_2": true }, "water": { "water_withdrawal_kl": 1002964, "water_withdrawal_surface_kl": 655048, "water_withdrawal_groundwater_kl": 343840, "water_withdrawal_third_party_kl": 4076, "water_consumption_kl": 1002964, "water_discharge_kl": 0, "water_recycled_kl": null, "water_intensity_per_inr_million_turnover_kl": 44.43, "water_intensity_per_inr_cr_revenue_kl": 444.3, "water_intensity_l_per_t_cementitious": 172, "water_stressed_areas_operations": false, "zero_liquid_discharge_coverage_pct": 100.0 }, "air_emissions": { "nox_tonnes": 8952, "sox_tonnes": 123, "particulate_matter_tonnes": 260, "pop_tonnes": 0, "voc_tonnes": 0, "hap_tonnes": 0, "assured_by": "TUV India Pvt Ltd (Limited Assurance)", "nox_yoy_change_note": "NOx tonnage rose 3.17x from 2,820 t (FY 2023-24) to 8,952 t (FY 2024-25); warrants methodology/scope verification" }, "waste": { "waste_total_tonnes": 41930, "waste_plastic_tonnes": 32.5, "waste_e_waste_tonnes": 1.36, "waste_bio_medical_tonnes": 0.147, "waste_construction_demolition_tonnes": 0, "waste_battery_tonnes": 7.63, "waste_radioactive_tonnes": 0, "waste_other_hazardous_tonnes": 47.4, "waste_other_non_hazardous_tonnes": 41841, "waste_recycled_tonnes": 2921, "waste_reused_tonnes": 38986, "waste_other_recovery_tonnes": 1.33, "waste_recovered_tonnes": 41908, "waste_recovered_share_pct": 99.95, "waste_disposed_tonnes": 0.096, "waste_intensity_per_inr_million_mt": 1.86, "waste_intensity_per_t_cementitious_mt": 0.0072 }, "biodiversity": { "operations_in_protected_areas": false, "biodiversity_management_plan_published": false }, "compliance": { "non_compliance_with_environmental_laws_events": 0, "environmental_penalty_inr_cr": 0 } }, "brsr_core_9_attributes": { "ghg_emission_intensity_per_revenue_tco2e_per_inr_cr": 1663, "ghg_emission_intensity_assurance_status": "Limited", "energy_footprint_per_revenue_gj_per_inr_cr": 6549, "energy_footprint_per_revenue_tj_per_inr_cr": 6.55, "energy_footprint_assurance_status": "Limited", "water_footprint_per_revenue_kl_per_inr_cr": 444.3, "water_footprint_assurance_status": "Limited", "job_creation_in_smaller_towns_pct_wages_rural": 147, "job_creation_in_smaller_towns_pct_wages_semi_urban": null, "job_creation_smaller_towns_assurance_status": null, "job_creation_disclosure_note": "BRSR P8 Q5 reports wages by location as bare integers (Rural 147, Urban 20, Metropolitan 13) with no unit shown; not a clean % share. Flagged as DQS=1.", "spend_on_wellbeing_pct_revenue": 0.26, "ltifr_per_million_person_hours_employees": 0.31, "ltifr_per_million_person_hours_workers": 0, "ltifr_assurance_status": "Limited", "gross_wages_paid_to_women_pct_total_wages": 1.85, "gross_wages_women_assurance_status": "Limited", "complaints_consumer_received": 0, "complaints_received_per_inr_cr_revenue": 0, "complaints_assurance_status": "Limited", "input_material_from_msme_smaller_producers_pct": 18.11, "input_material_from_district_and_neighbouring_pct": 36.49, "assurance_level_note": "All BRSR P6 environmental KPIs assured at LIMITED level by TUV India under ISAE 3000 (Revised); not Reasonable assurance. Sagar likely below Top 250 by market cap and not in BRSR Core mandatory-reasonable-assurance pool for FY 2024-25." }, "cement_sector_specific": { "cement_production_total_mt": null, "cement_production_calculation_note": "Not directly disclosed in BRSR; implied approx 5.82 MT from Scope 1+2 / 0.645 tCO2e per MT (BRSR Q7 physical intensity)", "clinker_production_total_mt": null, "calculated_clinker_factor_pct": null, "thermal_substitution_rate_pct": 5.4, "thermal_substitution_rate_source_page": "Page 22, Performance FY 2025; Bayyavaram plant AFR achieved 43%", "alternative_fuel_types_used": [ "industrial waste", "biomass", "tyres", "belts", "waste oil", "lime power (Jajpur)", "copper slag (Jeerabad)", "fly ash" ], "afr_consumption_total_tonnes": 1516003, "whrs_capacity_mw_total": 18.45, "whrs_capacity_mw_breakdown": "Mattampally 8.80 + Jeerabad 5.3 + Dachepalli (8.5 planned WHRB) + Gudipadu 4.35 under development", "captive_renewable_energy_capacity_mw_solar": 7.585, "captive_renewable_energy_capacity_mw_hydro": 8.3, "renewable_ppa_capacity_mw": null, "rec_purchases_mwh": null, "low_carbon_cement_product_share_pct": 48.0, "low_carbon_cement_product_examples": [ "Portland Pozzolana Cement (PPC) 32%", "Portland Slag Cement (PSC) 10%", "Composite Cement 4%", "GGBS 2%" ], "blended_cement_share_pct": 48.0, "carbon_capture_pilots_status": "None disclosed", "ccs_capacity_planned_tco2_per_year": 0, "fly_ash_utilisation_t": null, "slag_utilisation_t": null, "alternative_cementitious_material_pct_resource": 26.5, "alternative_cementitious_material_tonnes": 1507626, "cbam_transitional_declaration_filed": null, "cbam_in_scope_exports_to_eu_tonnes": 0, "sbti_committed": true, "sbti_validation_note": "Committed to SBTi to reduce emissions aligned with 1.5C goal (BRSR Section B Q4 disclosure)", "green_energy_ratio_pct": 14.0, "water_positivity_multiplier": 3.0, "ev_deployment_count": 6 }, "governance_disclosure": { "board_size": 9, "independent_directors_count": 3, "independent_directors_share_pct": 33.3, "executive_directors_share_pct": 22.0, "nominee_directors_share_pct": 33.0, "non_executive_directors_share_pct": 12.0, "women_directors_count": 3, "women_directors_share_pct": 33.3, "women_kmp_count": 0, "total_kmp_count": 3, "esg_committee_exists": true, "esg_committee_chair": "Joint Managing Director Shri. S Sreekanth Reddy", "esg_committee_chair_independent": false, "anti_corruption_policy_published": true, "human_rights_policy_published": true, "supplier_code_of_conduct_published": true, "whistleblower_policy_published": true, "policy_coverage_p1_to_p9": "Yes for P1-P6, P8, P9; No for P7 (Public policy advocacy)", "ngrbc_p7_policy_gap": true, "csr_applicable": true, "csr_spend_inr_lakhs": 244, "csr_spend_inr_cr": 2.44 }, "assurance": { "brsr_core_assurance_required_fy_2425": false, "brsr_core_assurance_required_note": "Sagar Cements likely not in Top 250 by market cap; BRSR Core reasonable-assurance mandate does not apply for FY 2024-25. Top 500 mandate FY 2025-26 may apply.", "brsr_core_assurance_obtained_fy_2425": true, "brsr_core_assurance_provider": "TUV India Pvt Ltd", "brsr_core_assurance_level": "Limited", "brsr_core_assurance_standard_followed": "ISAE 3000 (Revised)", "full_brsr_voluntary_assurance_obtained": true, "full_brsr_voluntary_assurance_provider": "TUV India Pvt Ltd", "full_brsr_voluntary_assurance_level": "Limited", "ghg_specific_assurance_separate": false, "ghg_specific_assurance_provider": "TUV India Pvt Ltd", "ghg_specific_assurance_standard": "ISAE 3000 (Revised)" }, "voluntary_frameworks": { "gri_report_published_fy_2425": true, "gri_standards_version_used": "GRI Standards 2021", "integrated_report_iirc_published": true, "ifrs_s1_voluntary_disclosure": false, "ifrs_s2_voluntary_disclosure": false, "tcfd_disclosure_published": null, "cdp_climate_response_filed": null, "cdp_water_response_filed": null, "cdp_climate_score_disclosed": null, "sbti_validated_target": true, "sbti_validation_note": "Validated near-term and long-term carbon targets (TSR exhibit on materiality matrix); validation date not disclosed in BRSR", "sbti_validation_date": null, "sbti_near_term_target_year": null, "sbti_long_term_target_year": null, "net_zero_target_year": null, "transition_plan_published": true, "transition_plan_disclosure_framework": "GCCA-aligned (SBTi 1.5C; TSR 25% by 2030 target; alternative cementitious 2% by 2030 / 5% later; net-carbon-zero target stated)", "iso_certifications": [ "ISO 14001:2015", "ISO 50001:2018", "ISO 9001:2015", "ISO 45001:2018", "ISO 26000 compliant" ], "cii_greenco_certifications": [ "Bayyavaram Plant - GreenCo Platinum", "Gudipadu - GreenCo Gold", "Mattampally - GreenCo Gold" ], "greenpro_certified_blended_cements": true }, "qc_metadata": { "scraped_by": "Claude Opus 4.7 + manual review", "scraped_date": "2026-05-27", "fields_extracted": 165, "fields_disclosed_by_company": 140, "fields_calculated": 12, "fields_not_disclosed": 13, "disclosure_completeness_pct": 82.4, "calculated_disclosure_quality_score_aggregate": 3.6, "dqs_per_brsr_core_attribute": { "ghg_emission_intensity": 4, "energy_footprint": 4, "water_footprint": 4, "ltifr": 4, "gross_wages_to_women": 4, "complaints": 3, "job_creation_smaller_towns": 1, "wellbeing_spend": 3, "input_material_msme": 3 }, "cross_validation_status": "pass", "cross_validation_log_ref": "qc-log.md#SAGCEM-2425", "restatement_detected": true, "restatement_log_ref": "Company self-disclosed two restatements in BRSR Section A: (1) BRSR GD 20 - prior-year Workers Permanent restated from 0 to confirm Total Employees Permanent of 1,189; (2) BRSR P2-EI-1 - prior-year CAPEX restated from NIL to INR 291.24 lakhs.", "identity_corrections": [ "primary_business confirmed as 'Manufacturing and Sale of Clinker & Cement' (99% turnover) per BRSR Q16; Sale of Power = 1% (NIC 2710)", "Total domestic locations confirmed: 6 plants + 12 offices = 17 locations across 10 states; no international operations", "Reporting boundary is consolidated (Sagar Cements + Andhra Cements + Sagar Cements (M) Pvt Ltd); revenue from operations consolidated INR 2,257.64 cr - higher than standalone INR 1,566.64 cr" ], "manual_review_completed": true, "manual_review_date": "2026-05-27", "manual_reviewer": "Ravi (PDF audit) + Claude", "manual_review_questions": [ "Q1: BRSR P8 Q5 'Job creation in smaller towns' reports wages by RBI location class as bare integers (Rural 147, Urban 20, Metropolitan 13) with no unit shown. The BRSR Core attribute requires '% of total wage cost'. Should we treat this as a disclosure gap (DQS=1) or attempt to back-calculate? Currently flagged DQS=1.", "Q2: Sagar treats all 2,475 contract workmen as 'Other than Permanent Employees', not as 'Workers'. This makes Permanent Workers = 0 in BRSR table 20, which is inconsistent with peer cement majors (who report contract workmen under Other Workers). Should the benchmark normalise this for cross-company comparison, or accept the company's classification as-disclosed?", "Q3: Assurance level is LIMITED (ISAE 3000 Revised) across all BRSR Core attributes, not REASONABLE. Sagar appears below Top 250 by market cap and may not be in BRSR Core mandatory-reasonable-assurance pool for FY 2024-25. Should the dataset code 'is_top_250_brsr_core_assurance_fy_2425' as false, or flag as ambiguous pending market-cap confirmation at 31 Mar 2025?" ], "notes": "Sagar Cements FY 2024-25: consolidated loss after tax of INR (216.68) cr. BRSR disclosure quality is solid for a sub-mid-cap entity: assured by TUV India under ISAE 3000 (Limited), SBTi committed, three GreenCo-certified plants, full Section C disclosure with comprehensive Principle 6 environmental tables. Notable gaps: (a) Scope 3 disclosed only as aggregate, not by 15 GHG Protocol categories; (b) cement and clinker production tonnages not directly disclosed in BRSR (must be inferred from intensity ratios); (c) BRSR P8 job-creation disclosure unit ambiguity; (d) NOx tonnage 8,952 t reported is 3.17x higher than FY 2023-24 (2,820 t) - warrants verification (possible methodology change or actual scope/measurement change not flagged by company). The two BRSR restatements (workforce + capex) are commendably self-disclosed under 'RESTATEMENT' notes in Section A.", "notes_audit_2026_05_27": { "audit_date": "2026-05-27", "auditor": "Ravi + Claude — direct PDF read, BRSR pp 132-159 + GCCA Index p81 + SASB Construction Materials Index p82 + Independent Assurance Statement p77", "source_pdf": "/Users/ravi/Downloads/SCL-Integrated-Report-FY-2024-25.pdf (317 pp, 11.7 MB) — Integrated Annual Report FY 2024-25", "company_identifiers": { "name": "Sagar Cements Limited", "cin": "L26942TG1981PLC002887 (incorporated 1981)", "paid_up_capital_inr_cr": 26.14, "brsr_contact": "Shri O. Anji Reddy — Chief Sustainability Officer (anjireddyo@sagarcements.in) — dedicated CSO title (rare in audited sample)" }, "assurance": { "type": "ISAE 3000 (Revised) Limited Assurance — joins broader Limited-Assurance club", "provider": "TUV India Private Limited", "frameworks": "GRI Standards 2021 + IIRC + applicable Indian regulations", "reporting_boundary": "4 manufacturing units (Mattampally TG, Jeerabad MP, Gudipadu AP, Dachepalli AP) + 2 grinding units (Jajpur OD, Bayyavaram AP); CONSOLIDATED including Sagar Cements (M) Pvt Ltd 65% + Andhra Cements Ltd 90%", "onsite_verification": "Hyderabad HO 20-21 March 2025 + Mattampally 03-04 April 2025; rest desk-reviewed", "scope_3_assured": "YES — Scope 3 (GRI 305-3) within assurance scope — joins JKLC + Orient + Ramco entities with Scope 3 third-party assurance", "23_gri_topics_verified": true }, "section_a_unique_findings": { "revenue_mix": "Cement & Clinker 99% (NIC 2394) + Sale of Power 1% (NIC 2710) — UNIQUE revenue line vs peers (Sagar generates and sells surplus power)", "national_locations": "6 plants + 12 offices = 17 national locations spread across 10 states; Exports NIL", "workforce_methodology": "UNIQUE — 1,202 Permanent Employees + 2,475 Other-than-Permanent Employees (contract workers classified under Employees not Workers per management policy); Total Workers = 0. Quote: 'We have only two types of employment — Employees (on roll) and contract workers'", "board_diversity": "BoD 9 with 3 Female = 33.3% — HIGHEST female board representation in audited 13-entity sample", "kmp_diversity": "KMP 3 with 0 Female — gender gap at executive layer", "attrition": "Permanent Employees 14.27% (vs 15.84% prior, 16.53% before) — improving trend; 'Permanent Workers' attrition 28.45% — DOUBLED YoY", "standalone_financials": "Turnover ₹1,566.64 cr + Net Worth ₹1,611.36 cr", "complaints": "Shareholder 122 + Customer 0 — clean customer record", "restatements_disclosed": [ "Workers Permanent prior was 0 (now 2,475 OTPE reclassified)", "P2-EI-1 Capex prior was NIL (actual ₹291.24 lakhs)", "ESI workers coverage prior 0.07% (now 100%)" ] }, "section_a_item_26_materiality": { "top_6_material_issues": [ "Waste Management and Circular Economy (Opportunity / Positive)", "Health and Safety (Risk / Negative)", "Governance and ethics (Opportunity / Positive)", "Climate Change (Risk / Negative) — Net Carbon Zero target referenced", "Water and Effluent Management (Opportunity tag but Financial Implication = Negative — inconsistent)", "Global regulation on curbing GHG Emission (Risk / Negative)" ], "net_carbon_zero_committed": true, "double_materiality_assessment_referenced": false, "net_carbon_zero_target_year_disclosed": "Not in BRSR (mentioned in mitigation row but year not stated)" }, "section_b_governance": { "p7_policy_gap": "P7 (Policy advocacy) — NO policy / NOT Board-approved (only audited principle with 'No' across the board)", "highest_authority_brsr_oversight": "Shri S. Sreekanth Reddy, Joint Managing Director (BRSR governance authority)", "external_assessment_of_policies_q11": "NO — no external evaluation conducted", "iso_certifications": "ISO 14001:2015 + ISO 50001:2018 + ISO 9001:2015 + ISO 45001:2018 + ISO 26000 compliant; Green Pro all plants 2019; Bayyavaram GreenCo Platinum (CII); Gudipadu + Mattampally GreenCo Gold (CII); Mattampally + Bayyavaram Labs NABL accredited", "sbti_commitment": "Committed to SBTi to reduce emissions aligned with 1.5 °C goal — JOINS narrow group (SBTi explicitly named — UltraTech / Dalmia / JK Cement / Ambuja peers)" }, "section_c_p1_governance_ethics": { "bod_training_nil": "BoD + KMP training on NGRBC principles = NIL (concerning) — only Employees 67% covered", "fines_penalties_settlements": "NIL across monetary + non-monetary across both years — clean record", "directors_kmp_disciplinary": "NIL both years", "payable_days_deterioration": "104 days FY24-25 (vs 76 prior) — 37% increase — working-capital deterioration", "concentration_risk_spike": "Purchases from top 10 trading houses jumped from 32.74% to 68.92% — DOUBLED concentration", "rpt_loans_spike": "Loans & advances with related parties as % of total loans = 19% (vs NIL prior) — material RPT shift", "value_chain_p1_awareness": "Awareness programmes for value chain partners on NGRBC principles = NIL (concerning)" }, "section_c_p2_sustainable_products": { "rd_capex_fy24_25_lakhs": { "rd": 92.04, "capex": 426.52, "prior_capex_lakhs": 291.24 }, "sustainable_sourcing_assessed": "NOT ASSESSED — % inputs sourced sustainably not measured", "epr_plan_submitted": true, "lca_disclosure": { "scope": "Mattampally Plant 100% turnover (NIC 2394 Cement & Clinker)", "external_agency": "B.S. Envi-Tech (P) Ltd", "communicated_publicly": "Yes", "risks_identified": [ "Energy-intensive process / Rising GHG emissions", "Acidification", "Terrestrial Ecotoxicity", "Fossil Fuel Scarcity" ], "note": "RARE specificity on LCA-identified risks vs peers' generic statements" }, "recycled_input_decline": "Fly Ash/Belts/Tyres/Waste Oil recycled rate dropped 78% → 19% — major YoY decline", "reclaimed_packaging": "Plastic safely disposed 3,908 MT (vs 0 prior) — first year of disclosure" }, "section_c_p3_safety_employee_wellbeing": { "wellbeing_spend_pct_revenue": { "fy24_25": 0.26, "fy23_24": 0.13, "note": "DOUBLED YoY but still LOW (article line 308 confirms 0.26% — among lower in sample)" }, "permanent_employees_benefits": { "health_insurance_pct": 100, "accident_insurance_pct": 100, "maternity_benefits_pct_female": 100, "paternity_benefits_pct": 0, "day_care_facilities_pct": 0, "note": "Zero paternity vs Orient 95.82% best-in-sample — wide variance" }, "otpe_workers_benefits": "2,475 OTPE classified as workers; ONLY accident insurance 100%; ALL other benefits (health/maternity/paternity/day-care) = 0", "retirement_benefits": "PF + Gratuity + ESI all 100% employees AND 100% workers (vs ESI workers 0.07% prior — restatement)", "parental_leave_return_to_work": "Not applicable — none of the employees have availed parental leave past 3 years", "ltifr": { "employees_fy24_25": 0.31, "employees_fy23_24": 0, "workers_fy24_25": 0, "workers_fy23_24": 1 }, "injuries_total": { "employees_fy24_25": 117, "employees_fy23_24": 5, "workers_fy24_25": 0, "workers_fy23_24": 86, "note": "Total injuries reclassified from workers (86) to employees (117) following workforce reclassification — material reporting boundary change; net total roughly stable" }, "fatalities": "0 employees + 0 workers FY24-25 (vs 1 employee prior) — improvement to zero fatalities", "high_consequence_injuries_fy24_25": "0 employees + 0 workers (vs 1 + 10 prior) — improvement", "plant_assessments_h_and_s": "NIL plants/offices assessed by entity/statutory/third parties — significant transparency gap vs JKLC + Orient", "corrective_action_safety": "Nil disclosed — concerning", "p3_complaints_h_and_s_working_conditions": "NIL both years", "transition_assistance_program": "No", "value_chain_h_and_s_assessment": "NIL" }, "section_c_p4_stakeholders": { "vulnerable_marginalised_groups_flagged": [ "Employees", "Customers", "Community" ], "note": "Unusual to flag employees + customers as vulnerable/marginalised — typically Community + Suppliers in peers" }, "section_c_p5_human_rights": { "hr_training_pct": "0% across all categories (Permanent + OTPE Employees + Workers) — DRAMATIC TRAINING GAP", "minimum_wage_compliance": "100% above minimum wage across all categories", "gender_pay_parity_employees": { "male_median_salary_lakhs": 5.85, "female_median_salary_lakhs": 6.61, "note": "FEMALE > MALE median for non-KMP employees — POSITIVE INVERSION (rare in sample)" }, "kmp_remuneration": "Male KMP 3 × ₹47.33 L; Female KMP 0", "gross_wages_female_pct": { "fy24_25": 1.85, "fy23_24": 1.00, "note": "Improving but still LOW — joins India Cements + Ramco below 2%" }, "posh_complaints_both_years": 0, "posh_pct_nil_both_years_club": "JOINS Shree + JK Cement + Birla Corp + JKLC + India Cements + Orient — 7th entity with NIL POSH both years", "discrimination_child_forced_labour_complaints": "NIL all categories both years", "human_rights_in_business_contracts": "Yes", "plant_assessments_hr": "NIL plants/offices assessed (Q10) — transparency gap", "value_chain_hr_assessment": "NIL" }, "section_c_p6_environment": { "energy_renewable_tj": { "fy24_25": 489.33, "fy23_24": 259.38, "note": "Renewable energy nearly DOUBLED YoY (+89%)" }, "energy_total_tj": { "fy24_25": 14784.81, "fy23_24": 15211.51 }, "energy_intensity_per_mn_revenue_tj": 0.65, "energy_intensity_physical_tj_per_t_cementitious": 0.00254, "specific_heat_kcal_per_kg_clinker": { "fy24_25": 722, "fy23_24": 726 }, "ppp_intensity_disclosed": false, "ppp_non_compliance_note": "SEBI 20 Dec 2024 Industry Standards mandates PPP-adjusted intensity — Sagar discloses Nil for both energy + water + GHG (NON-COMPLIANT)", "pat_scheme_designated_consumers": { "mattampally_target_toe_per_t": 0.0914, "mattampally_achieved": 0.0857, "gudipadu_target_toe_per_t": 0.1241, "gudipadu_achieved": 0.0911, "bayyavaram": "Under PAT scheme; target not yet set by GoI" }, "water_withdrawal_kl": { "fy24_25": 1002964, "fy23_24": 876432, "note": "Withdrawal +14.5% YoY" }, "water_intensity_l_per_t_cementitious": { "fy24_25": 172, "fy23_24": 151 }, "zld_claim_pct": 100, "water_stress_facilities": "NONE in water-stress areas — joins Birla Corp + Orient (vs India Cements + Ramco facing water-stress at multiple plants)", "air_emissions": { "nox_t_fy24_25": 8952, "nox_t_fy23_24": 2820, "nox_yoy_pct": "+217% — TRIPLED", "sox_t_fy24_25": 123, "sox_t_fy23_24": 232, "pm_total_t": 260, "pop_voc_hap_disclosed": "NIL (not measured)" }, "scope_1_emissions_tco2e": { "fy24_25_net": 3557140, "fy23_24_net": 3671703 }, "scope_2_emissions_tco2e": { "fy24_25": 198272, "fy23_24": 198660 }, "scope_1_2_intensity_per_mt_product": { "fy24_25_tco2e": 0.645, "fy23_24_tco2e": 0.666, "note": "645 kgCO2/MT — HIGHEST in 13-entity audited sample per article line 429" }, "scope_1_2_intensity_per_employee": 3124, "emission_factor_sources": [ "IPCC", "India GHG Programme", "Defra" ], "ghg_reduction_projects": [ "6 MW Solar Gudipadu — LIVE", "4.35 MW WHRS Gudipadu — under installation", "6 MW Solar ACL (Andhra Cements subsidiary) — under progress", "Bio-CBG project — under deliberation", "New AF feeding system commissioned to enhance TSR%" ], "waste_generated_mt": { "fy24_25": 41930, "fy23_24": 52557, "note": "-20% YoY" }, "waste_intensity_mt_per_mn_rev": { "fy24_25": 1.86, "fy23_24": 2.09 }, "waste_recovered_mt": 41908, "waste_recycled_mt": 2921, "waste_reused_mt": 38986, "ecologically_sensitive_operations": "NONE — no operations in/around national parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, CRZ", "eia_projects_disclosed": [ "Jeerabad MP — clinker 0.825 → 1.10 MTPA + cement 0.95 → 1.5 MTPA modernisation (assessed by B.S. Envi-Tech; NOT communicated in public domain)", "Dachepalli AP (ACL) — clinker 2.0 → 2.31 MTPA + cement 2.31 → 3.00 MTPA + 8.5 MW WHRS (assessed by B.S. Envi-Tech; NOT communicated in public domain)" ], "eia_transparency_gap": "Both EIA results NOT communicated in public domain — transparency gap", "environmental_law_compliance": "NIL non-compliances disclosed", "scope_3_emissions_tco2e": { "fy24_25": 473554, "fy23_24": 511841, "note": "Scope 3 -7.5% YoY — confirms article line 429 aggregate of 473,554 tCO2e" }, "scope_3_assured": "YES by TUV India — JOINS JKLC + Orient + Ramco as 4th entity with externally-assured Scope 3 (vs 5/12 NIL Scope 3 club)", "green_credits": "NIL generated or procured by entity + value chain partners", "tsr_alternative_fuel_rate_pct": 3.35, "biomass_fuel_rate_pct": 2.01, "alternative_raw_materials_pct_arm": 19.42, "energy_efficiency_initiatives": [ "6-stage preheater at ACL (ongoing) — energy efficiency", "6 MW solar Gudipadu (completed) — GHG reduction", "AFR utilisation at Bayyavaram achieved 43%", "Lime power alternative cementitious material at Jajpur — clinker substitute", "Copper slag alternative raw material at Jeerabad — non-carbonated raw" ] }, "section_c_p7_policy_advocacy": { "trade_associations_count": 5, "trade_associations": [ "National Council of Cement and Building Materials (NCCBM)", "Confederation of Indian Industries (CII)", "Federation of Indian Chambers of Commerce and Industries (FICCI)", "South India Cement Manufacturers Association (SICMA)", "Global Cement and Concrete Association (GCCA)" ], "gcca_member": true, "anti_competitive_corrective_action": "NIL — no adverse CCI orders disclosed", "cci_exposure_disclosed_in_brsr_p7": "NIL — no CCI cartel litigation; joins Birla Corp + Orient as 3rd entity (of 13) with NO CCI exposure", "public_policy_positions_leadership_disclosure": "NIL — public policy positions advocacy NOT disclosed under P7 Leadership Q1 — transparency gap consistent with UltraTech / JK Cement / Nuvoco / India Cements" }, "section_c_p8_inclusive_growth": { "sia_assessments": "NIL projects", "rehabilitation_resettlement_ongoing": "NIL projects", "msme_sourcing_pct": { "fy24_25": 18.11, "fy23_24": 6.4, "note": "MSME sourcing nearly TRIPLED YoY — strong inclusion improvement" }, "local_district_sourcing_pct": { "fy24_25": 36.49, "fy23_24": 34 }, "local_indian_suppliers_pct": 83.1, "csr_aspirational_district": { "state": "Telangana", "district": "Nalgonda", "spend_lakhs": 174.38 }, "preferential_procurement_vulnerable_groups": "No policy", "csr_beneficiaries": 180277, "csr_vulnerable_pct": 100 }, "section_c_p9_consumer_responsibility": { "product_info_turnover_pct": "NIL — no env/social labelling + safe usage + recycling disposal info disclosed on packaging", "consumer_complaints_all_categories": "NIL across data privacy + advertising + cyber-security + delivery + restrictive trade + unfair trade + other — both years", "product_recalls": "NIL voluntary + NIL forced", "cybersecurity_policy": "Voluntary policy in place — no web link", "data_breaches": "NA — NOT EVEN disclosed as 'nil' (transparency gap; should be Yes/No + Nil)", "consumer_satisfaction_survey": "Disclosed via ad accuracy per ASCI norms but no formal survey results" }, "gcca_index_disclosure": { "disclosed": "YES — joins JKLC + Orient + Ramco as 4th entity with explicit GCCA Index in IR", "scope_1_dual_disclosure": { "gross_tco2e": 3586385, "net_tco2e": 3557140, "specific_gross_kgco2_per_t_cementitious": 616, "specific_net_kgco2_per_t_cementitious": 611, "note": "DUAL gross/net Scope 1 + specific intensity — joins Birla Corp / Orient in gross-net dual disclosure" }, "afr_rate_pct": 3.35, "biomass_rate_pct": 2.01, "arm_rate_pct": 19.42, "specific_heat_kcal_per_kg_clinker": 722, "safety_fatalities": "0 directly employed + 0 contractors + 0 third parties", "lti_directly_employed": 3, "lti_contractors": 0, "water_consumption_kl": 1002964, "specific_water_l_per_t": 172, "biodiversity_quarries_under_closure": "None" }, "sasb_construction_materials_index_disclosure": { "disclosed": "YES — joins JKLC + Orient + Sagar makes 3rd/4th entity with explicit SASB Construction Materials Standard 2023 index", "em_cm_110a_1": { "gross_scope_1_tco2e": 3586385, "pct_under_emissions_limiting_regulation": 0, "note": "CCTS still under preparation; expected release FY25-26" }, "em_cm_120a_1_air_emissions": { "nox_t": 8952, "sox_t": 123, "pm10_t": 4.45, "dioxins_furans": 0, "vocs": 0, "pahs": 0, "heavy_metals": 0 }, "em_cm_130a_1_energy": { "total_tj": 14785, "grid_electricity_pct": 6.7, "alternative_pct": 4.8, "renewable_pct": 1.5 }, "em_cm_140a_1_water": { "withdrawn_kl": 1002964, "pct_in_high_or_extremely_high_water_stress": 0 }, "em_cm_150a_1_waste": { "generated_t": 41930, "hazardous_pct": 0.11, "recycled_pct": 92.98 }, "em_cm_320a_1_workforce_safety": { "trir": 2.46, "near_miss_direct": 0, "near_miss_contractor": 0 }, "em_cm_320a_2_silicosis_cases": 0, "em_cm_410a_1_sustainable_products_credits_pct": 50, "em_cm_410a_2_addressable_market_share_pct": 50, "em_cm_520a_1_cartel_antitrust_monetary_losses": 0, "anti_trust_clean_record_corroborated": "EM-CM-520a.1 = 0 corroborates BRSR P7 Q2 NIL — Sagar 3rd entity (with Birla Corp + Orient) with no CCI cartel exposure" }, "cross_sample_classification": { "scope_3_disclosed_externally_assured": "JOINS JKLC + Orient + Ramco — 4th entity with assured Scope 3", "cci_clean_record": "JOINS Birla Corp + Orient — 3rd entity (of 13 audited) with no CCI cartel litigation history", "posh_nil_both_years": "JOINS Shree/JK Cement/Birla/JKLC/India Cements/Orient — 7th entity", "gcca_index_explicit": "4th entity (after JKLC + Orient + Ramco)", "sasb_construction_materials_index_explicit": "3rd/4th entity (after JKLC + Orient)", "ppp_intensity_compliance_dec_2024_sebi": "NON-COMPLIANT — Nil PPP intensity across energy + water + GHG", "female_board_pct_highest": "33.3% Sagar — HIGHEST in 13-entity audited sample", "female_employee_pay_inversion_positive": "Sagar median female ₹6.61L > male ₹5.85L — RARE positive inversion", "scope_1_2_intensity_highest": "645 kgCO2/MT — HIGHEST in audited 13-entity sample (article line 429 confirmed)", "msme_sourcing_pct_strong": "18.11% (up from 6.4%) — strong improvement", "p7_public_policy_advocacy_nil": "JOINS UltraTech / JK Cement / Nuvoco / India Cements — transparency gap on Leadership Q1", "human_rights_training_zero": "0% across all categories — DRAMATIC gap (vs JKLC + Orient at high coverage)", "scope_3_nil_club_NOT_member": "Sagar DOES disclose Scope 3 (4,73,554 tCO2e assured) — NOT in 5/12 NIL Scope 3 club" }, "key_concerns_and_signals": [ "Workforce reclassification — 2,475 Workers reclassified as 'Other-than-Permanent Employees' — significant boundary change vs prior year", "NOx tripled 2,820 → 8,952 T YoY — unexplained spike; SOx improved 232 → 123 T", "Concentration of trading-house purchases doubled 32.7% → 68.9% — supplier risk", "RPT loans/advances jumped Nil → 19% — material RPT shift", "HR training 0% across all categories — major gap", "BoD + KMP NGRBC training NIL — governance gap", "EIA results for Jeerabad + Dachepalli expansions NOT communicated publicly — transparency gap", "P7 public policy advocacy NIL disclosure — joins transparency-gap peers", "Data breaches reported as 'NA' (not Nil) — should be Yes/No + Nil per BRSR format", "Scope 1+2 intensity 645 kgCO2/MT HIGHEST in audited 13-entity sample — Sagar leadership on decarbonisation roadmap still nascent vs UltraTech/Dalmia", "Wellbeing spend 0.26% revenue — among lower in sample (despite doubling)", "Net Carbon Zero target year NOT disclosed in BRSR materiality table" ], "key_strengths": [ "Dedicated Chief Sustainability Officer title (Shri O. Anji Reddy) — rare governance signal", "SBTi 1.5°C commitment explicit (joins UltraTech / Dalmia / JK Cement)", "GCCA Index explicit disclosure with dual gross/net Scope 1 + specific intensity", "SASB Construction Materials Index explicit disclosure (3rd/4th entity in sample)", "Scope 3 disclosed AND externally assured by TUV India (joins JKLC + Orient + Ramco)", "23 GRI topics within ISAE 3000 assurance scope", "Female board representation 33.3% — HIGHEST in 13-entity sample", "Female median pay > male (₹6.61L vs ₹5.85L) — rare positive inversion", "MSME sourcing nearly tripled 6.4% → 18.11%", "CSR aspirational district focus Nalgonda Telangana ₹174.38 lakhs; 180,277 beneficiaries 100% vulnerable groups", "LCA assessed externally + publicly disclosed at Mattampally 100% turnover — specific risks named (acidification, terrestrial ecotoxicity, fossil fuel scarcity)", "Zero fatalities all categories FY24-25 (vs 1 prior)", "ZLD 100% across all plants", "No water-stress facilities (joins Birla Corp + Orient)", "Net Carbon Zero target referenced as strategic intent", "Renewable energy capacity nearly doubled YoY (259 → 489 TJ)", "Multiple ISO certifications including ISO 26000 + Green Pro all plants + GreenCo Platinum (Bayyavaram) + Gold (Gudipadu + Mattampally)", "Multiple safety + energy awards FY24-25 (CII National Energy Management; National Energy Conservation Award Cement Sector; Mines Safety Week 1st Prize Dachepalli)" ], "audit_completeness": { "section_a_pages_audited": "BRSR pp 132-136 (printed) — Section A I-VII + item 26 Materiality", "section_b_pages_audited": "pp 137-138 (printed)", "section_c_pages_audited": "pp 139-159 (printed) — P1 through P9 essential + leadership", "annexures_audited": "GCCA Index p81 + SASB Construction Materials Index p82 + Independent Assurance Statement p77 + Corporate Governance Certificate p131", "audit_method": "Single-page Read calls — no skip, full BRSR + GCCA + SASB coverage" } }, "cross_validation_completed_date": "2026-05-28" } }