- Corporate Overview
- Statutory Reports
- Standalone Independent Auditor’s Report
- Standalone Balance Sheet
- Standalone Statement of Profit & Loss
- Standalone Statement of Changes in Equity
- Standalone Statement of Cash Flows
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- Consolidated Independent Auditor’s Report (Ind AS)
- Consolidated Balance Sheet (Ind AS)
- Consolidated Statement of Profit & Loss (Ind AS)
- Consolidated Statement of Changes in Equity (Ind AS)
- Consolidated Statement of Cash Flows (Ind AS)
- Notes to the Consolidated Financial Statements (Ind AS)
- Consolidated Independent Auditor’s Report (IFRS)
- Consolidated Statement of Financial Position (IFRS)
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- Consolidated Statement of Changes in Shareholders’ Equity (IFRS)
- Consolidated Statement of Cash Flows (IFRS)
- Notes to the Consolidated Financial Statements (IFRS)
We, at Glenmark, are driven by the common purpose of positively impacting the lives of people and creating a healthier and happier world. Together with our vision and values, this purpose provides the foundation for all aspects of sustainability and business responsibility within our organisation. Our determination of Enriching Lives is accompanied by our unwavering commitment to good corporate governance, operational excellence and employee wellbeing.
Our innovation-led transformational journey is designed to create long-term sustainability and value for our Company, our shareholders and all other stakeholders. Preserving the natural environment and promoting well-being of the community are two other integral aspects of our business responsibility. We have adopted a strategic direction under these areas, which is helping us contribute to the larger goal of sustainable development.
Environment, Health and Safety
Environment, Health and Safety (EHS) is a vital element of our corporate responsibility, since it is intrinsically linked to the Company’s motto of Enriching Lives. We are cognisant of the impact our operations have on the natural environment and are committed to minimise them. Our daily operations are guided by an EHS policy, which clearly outlines our intent and approach. The policy is actively deployed and communicated to all our employees and business partners. We continue to remain fully compliant to all applicable regulations and all our facilities routinely undergo various external and internal audits.
In our journey to achieve EHS excellence, we have moved beyond compliance by making EHS considerations a part of broader business decisions and performance reviews. Several key performance indicators have been defined and performance on these are regularly monitored for all our manufacturing facilities. In addition, we have also incorporated EHS aspects in the conceptualisation of new projects.
It is our constant endeavour to identify opportunities to reduce our dependence on traditional materials and energy sources, improve the efficiency of our processes, and minimise the release of wastes and other forms of emissions in the environment. Focussed efforts are being made to increase the share of renewable sources of energy and conserve energy through various efficiency measures, which has helped us decrease our greenhouse gas (GHG) emissions.
Socio-environment impact meter
Reduced water consumption and effluent discharge
The treated effluent at our manufacturing units as well as R&D centres was fully recovered and recycled back for use in the plant utilities and horticulture activities, and consumption of fresh water was reduced. Ankleshwar, Dahej, Aurangabad and Mohol facilities have installed state-of the-art effluent treatment plants, which comprises Reverse Osmosis (RO), Multi Effect Evaporators (MEE) and Agitated Thin Film Drier (ATFD) to ensure zero discharge of liquid effluents and environmental protection.
Enhancing our energy efficiency
Our Indian operations drastically reduced energy and fuel consumption in 2016-17 compared to the previous year. We reduced 113.46 tonnes of carbon dioxide equivalents through 100kWp rooftop solar plant at Mahape, Navi Mumbai.
We achieved ISO 14001:2004 certification at our manufacturing facilities in Goa Main, Goa Hormone, Nashik, Indore, Baddi-I, Baddi-III, Nalagarh, Ankleshwar, Dahej, Aurangabad, Sikkim and Pilar (Argentina). Goa Main, Goa Hormone, Nashik and Indore facilities have been re-certified in FY 17. Our Ankleshwar, Goa Main, Goa Hormone and Vysoke Myto (Czech) facilities have implemented the OHSAS 18001:2007 certification in 2016-17. The Indore facility is already certified with OHSAS 18001:2007.
- Our Goa and Baddi facilities won the Greentech Safety Award for maintaining best safety practices
- Nalagarh facility was awarded the Greentech Environment Award 2017 for maintaining best practices for a safe environment
- The Indore facility was awarded the Health, Safety and Environmental Friendly Enterprise Award in large scale industry by FMPCCI
Near Miss Reporting
Proactive measures like near-miss safety incident reporting and EHS training have helped raise safety standards at the facilities.
Four safety programmes have been initiated in 2016-17 to enhance safety across all our facilities. They are:
- Contractor safety
- Chemical safety
- Working at height
- Safe isolation (LOTO) management
Corporate Social Responsibility
As a responsible corporate citizen, we are cognisant of our ability, means and influence to drive a positive change in the society at large. Creating a healthier and happier world is our key mission, which we steadfastly strive to achieve through our Corporate Social Responsibility (CSR) initiatives. Our commitment to the improvement of people’s lives, allows us to extend our CSR activities far beyond our operations and direct stakeholders. Our CSR ethos complements our approach to doing business responsibly and demonstrates our unwavering commitment to giving back to the society.
We are committed towards the cause of child health. It is vital to analyse the factors that affect growth during the age group of 0 to 5 years to determine appropriate intervention strategies. Therefore, adequate measures need to be taken for the promotion of child health and disease prevention.
Themed around ‘Healthier Children, Healthier World’, Glenmark Foundation actively works towards improving child health and has undertaken several community programmes focussed towards reducing infant and child mortality among the vulnerable population groups.
The Foundation aims to provide health education and awareness to mothers and caregivers with a focus on:
- Reducing malnutrition
- Increase in immunisation levels for infants and children
- Improvement in hygiene and sanitation conditions
The target group for our interventions are adolescents, newly married, pregnant mothers, new-born and children. In order to maximise the scope and impact of our programmes, the Foundation is associated with various non-governmental organisation (NGO) partners as well as existing government health programmes.
Glenmark Foundation has transformed anganwadis (day care centres) to model anganwadis by making them child centric. In various communities, we have ensured complete immunisation of infants and children through various interventions to track immunisation. The promotion of backyard nutrition gardens and backyard poultry resulted in direct intake of micronutrients in malnourished children, thereby improving their nutritional levels. Our interventions have helped the supported communities to lead healthier, stronger and happier lives.
To expand the outreach of our child health programme, we took our initiatives to new regions. In order to improve access to healthcare, we launched the ‘Health on Wheels for Children’. It is a mobile health delivery service aimed at providing quality healthcare services to the underprivileged in identified areas of East Sikkim. We also conducted an intervention programme aimed at behavioral change for new mothers and children in Gujarat.
Our mMitra project reached out to underprivileged pregnant women through mobile technology. The mobile-based health advisory voice messaging service was introduced for pregnant women and mothers. It has resulted in safe and informed pregnancies leading to healthier children. These voice messages are medically verified and individualised messages, which last for 60-90 seconds in the local language. The messages are sent directly to the mobile phones of the enrolled women.
Access to Healthcare and Education
At Glenmark, we also support the advancement of education. Through our efforts, we have helped to develop better infrastructure facilities to improve the quality of education in rural tribal areas of Maharashtra. Another significant contribution is our medicine donation programme, which improves access to healthcare particularly to those who are remotely located.
This year, we initiated ‘Glenmark’s Learn & Earn’ initiative to enhance skill competency and employability of local youth around some of our facilities. The youth acquires the skills by learning and working side by side with an experienced practitioner. This will optimally raise the standard of their skills thus resulting into greater employability index for the individual.
In a step towards promoting inclusive development and an opportunity to lead a productive life, we have rehabilitated over 2,000 differently-abled individuals this year by providing them artificial limbs in association with Jaipur Foot.
Global Joy of Giving
We celebrated the festival of philanthropy in over 35 locations across 20 countries. Over 4,500 employees from across the globe contributed and made a difference to children suffering from life changing illnesses, less privileged and orphan children, people with differently-abled, single mothers, and indigenous people. Other activities included donating smokeless stoves to tribal families, and building digital classrooms for municipal schools.
Glenmark Aquatic Foundation
In FY 17, Glenmark Aquatic Foundation steadily moved ahead towards its mission of improving the swimming ecosystem in India. The major achievements of GAF are:
- Tied up with Sports Authority of India (SAI) to launch its second centre at Dr. S.P.M. Swimming Complex, Talkatora Stadium in New Delhi. The programme is called SAI Glenmark Talent Identification, Development and Management (SGTIDM). This is a fully-residential academy wherein selected National Level swimmers are provided high-end swimming coaching in addition to schooling and residential facilities. Currently 31 swimmers train at the academy
- Appointed a silver medal coach from Australia, Mr. Peter Carswell as the head coach in Mumbai and Mr. Partha Pratim Majumder as Head Coach in Delhi
- Tied up with the Swimming Federation of India (SFI) for a period of eight years. This association will include sponsorship of the Sub Junior, Junior and Senior National Championship along with improvisation of the ecosystem of swimming in India
In the near future, GAF is aiming to launch a 3rd Centre and a coach education program.