Escorts Kubota : Integrated Annual Report 2022-23

About this update from Escorts Kubota Limited

ESCORTS KUBOTA LIMITED Integrated Annual Report 2022-23 Spreading Prosperity. Impacting Lives. What's Inside 06 Corporate Overview 06 Company Snapshot EKL at a Glance Our Journey Investment Case 16 Management Messages 16 CMD and DMD's Statement 24 Whole Time Director and Chief Financial Officer Message 27 Fostering a Stakeholder- Centric Culture On Your Side for Customers On Your Side for Employees On Your Side for Investors On Your Side for Partners On Your Side for Communities The infusion of culture from Japan and India is ready to give shape to an organisation which embeds the strengths of two legacies. Nikhil Nanda Chairman and Managing Director Seiji Fukuoka Deputy Managing Director 32 Strategic Overview 32 Business Model External Environment Strategy Planning Mid Term Business Plan 2028 Stakeholder Engagement Materiality Assessment Contribution to SDGs Risk Management 58 Capital-wise Performance 58 Financial Capital Manufactured Capital Intellectual Capital Natural Capital Social and Relationship Capital Human Capital 90 Corporate Governance Board of Directors Leadership Team 104 Management Discussion and Analysis 124 Statutory Reports 124 Directors' Report 143 Report on Corporate Governance 177 Business Responsibility and Sustainability Report 214 Financial Statements Standalone Financial Statements Consolidated Financial Statements More information at www.escortsgroup.com ON YOUR SIDE Spreading Prosperity. Impacting Lives. At Escorts Kubota Limited, we believe in being 'On Your Side'. From customers and investors to employees and communities, we are working collaboratively with all our stakeholders, to build stronger relationships, greater trust, and more sustainable outcomes. Escorts Kubota Limited, a unique collaboration of two engineering giants from India and Japan have come together to achieve a common goal of driving food security, sustainable farming, and prosperity for all. With our Mid Term Business Plan (MTBP), we aim to make a lasting impact by driving farm productivity, reducing water consumption, and minimising waste. Guided by our 'On Your Side' philosophy, we are committed to provide innovative and cost-effective solutions to customers while creating long-term value for stakeholders. Our prudent capital management with strategic decisions have helped us create consistent returns for shareholders and will continue to create long-term wealth. As a responsible employer, we prioritise fair compensation, professional growth, and a positive work environment for our employees. Our responsibility extends to uplifting communities through targeted CSR initiatives, including healthcare facilities, women empowerment programmes, and sustainable agriculture practices. Committed to reducing our environmental impact, we promote sustainable business practices through a clear ESG roadmap. Our shared vision for the future, built on cutting-edge technology, innovation, and sustainability, drives us to create value for all stakeholders. At Escorts Kubota Limited, we proudly stand On Your Side! ON YOUR SIDE FOR Customers Employees Investors Page 27 Page 28 Page 29 Partners Communities Page 30 Page 31 About the Report The Integrated Report of Escorts Kubota Limited ('EKL' or 'Escorts Kubota' or 'Escorts' or 'Company') for Fiscal year 2022-23 is second Integrated Annual Report, titled 'On Your Side, Spreading Prosperity. Impacting Lives.' to our stakeholders. The Report highlights our financial and non- financial performance across the pillars of Environmental, Social, and Governance (ESG) through key- performance indicators. The Report details how we delivered consistent performance across our business segments throughout the year. We showcase our commitment to materiality issues, transparency and integrity through our Integrated Report . The Report provides relevant information to our stakeholders on our MTBP-Mid Term Business Plan and ability to create value and demonstrating our capacity to grow and our capability to adapt to various scenarios. Reporting Framework The Report was prepared in reference to the following standards and guidelines: International framework of the Value Reporting Foundation Global Reporting Initiative (GRI) Standards United Nations Sustainable Development Goals (UN SDGs) The Companies Act, 2013 and the rules made thereunder Indian Accounting Standards Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 At Escorts Kubota Limited, we emphasise our commitment to the United Nations Sustainable Development Goals (SDGs) and our role in their implementation. Throughout this report, references are provided for the specific SDGs that align with our initiatives and efforts. Reporting Scope and Boundary This Report covers the reporting period between April 1, 2022, to March 31, 2023 and reflects our standalone operations, unless stated otherwise. In this, we aspire to provide an incisive view of our performance and strategy across business segments. The content of this Report depicts both quantitative and qualitative disclosures on our performance and our ability to create value across six capitals. Financial Capital Read more on_ pg 58 Manufactured Capital Read more on_ pg 60 Intellectual Capital Read more on_ pg 62 Natural Capital Read more on_ pg 64 Social & Relationship Capital Read more on_ pg 70 Human Capital Read more on_ pg 78 Forward-looking Statements This Report contains statements about expected future events and financials of Escorts Kubota Ltd., which are forward-looking. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate and actual future results and events may differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update these forward-looking statements which reflect events or circumstances, after the publication of this document. Precautionary Approach We follow a precautionary approach towards minimising our operational impact on the environment. We have implemented best-in-class technology for our manufacturing operations to limit our ecological footprint, and we continue to enhance our efforts towards the same. At all our plants, we have implemented Environment, Health and Safety (EHS) management systems to monitor and address any concerns. Responsibility Statement The Board of Directors/senior leadership of Escorts Kubota Ltd. acknowledges their responsibilities to ensure the integrity of this Integrated Report. We believe that the Report addresses all material issues and presents the performance of the Company as well as the value created for all stakeholders in a fair and accurate manner. This year your Senior leadership as per the mandate of the Board of Directors of the Company, has also decided to seek limited assurance of this integrated Report to ensure reasonable correctness of the data being reported to the Stakeholders. Feedback, questions, or comments on this report are welcome. We encourage you to please email us at [email protected] for feedback on our business performance for suggestions or enquiries on our sustainability performance. Investors Relations Corporate Centre, 15/5, Mathura Road, Faridabad - 121 003 Telephone No.: +91 129 2250222 Email: [email protected]

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