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Annual Report 2021-22

Know BALCO

  • 01. About Us
  • 02. Core Values
  • 03. Certifications
  • 04. Chairman’s Message
  • 05. Performance Highlights

Business Overview

  • 01. Our Product Portfolio
  • 02. Our Diverse Presence
  • 03. Building Process Excellence
  • 04. Human Capital
  • 05. Social and Relationship Capital
  • 06. ESG Initiatives and Relationship Capital
  • 07. Board of Directors
  • 08. Awards & Recognition

Statutory Reports

  • 01. Board’s Report
  • 02. Report on Corporate Governance

Financial Statements

  • 01. Independent Auditor’s Report
  • 02. Balance Sheet
  • 03. Statement of Profit and Loss
  • 04. Statement of Cash Flows
  • 05. Statement of Changes in Equity
  • 06. Notes to Financial Statements

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HUMAN CAPITAL

We believe that the capability of our employees is the key to our success thus we are committed to provide necessary human resource development and training prospects. This is likely to equip our employees with additional skills, which enable them to adapt to contemporary technological advancements.

We consider our people to be our most valuable assets, and we are determined to offer all our employees a safe and healthy work environment.

We align our business goals with individual goals and provide overall development, emphasising upskilling and equipping them with the ability to maximise the opportunities available within the ecosystem of our Company.

A healthy ecosystem

Creating and nurturing a good office environment entails a variety of aspects, primarily revolving around a business culture that supports a healthy work-life balance. Across our value chain, we employ many people, either directly or indirectly. Given the scope of our activities, there is an inherent danger of human rights breaches, which might hurt our reputation. As a result, we bear responsibility and accountability for safeguarding human rights throughout our value chain, including our operations, supplier chain, communities, and commercial connections.

Our Code of Conduct establishes a set of guiding principles, and our employees are subjected to regular Code of Conduct training. The e-learning portal is used to launch online awareness modules of mandatory sessions on Code of Conduct Business Ethics and Whistle-Blower Policy, ABAC, Anti-Trust Guidance Laws and Human Rights, which now have a 100% coverage. The e-learning portal further drives awareness among employees on the many facets of POSH law.

Training and development

At BALCO, we hold training and development closely related to our employee's development and is critical for our Company's growth and success as it improves employee efficiency and helps them in being more innovative and productive. Throughout the year, we provide a variety of training programmes to help upskill our employees. Recruits participate in a month-long SBU-based induction programme to learn about the Company's processes, policies, and procedures. We ensure that our recruits transition from their campus to the corporate with the help of various inductions.

Likewise, existing professionals receive extensive training in various topics relating to technical and behavioural traits. Behavioural training dives into programmes to increase the quality of life and achieve a work-life balance. Parts of managerial and leadership abilities are also imparted.

Furthermore, we encourage our employees to constantly equip themselves with the emerging technologies to improve their efficiency to optimise our processes, reduce errors and streamline information exchange. In addition, we offer online courses, and employees have complete access to all learning materials. In the year under review, we have had a lot of training and developments programmes targeted towards our employees, such as:

01

A total of 20 e-learning modules active and cross functional training sessions across group

02

More than 50 internal and over 15 external learning sessions conducted

03

Training session on gender sensitisation

04

Training session on New Me, We Care (health and hygiene) for diversity employees

05

Self-defence training session by Fitcom

06

Finance, ESG, marketing, commercial, legal, quality, CC, PR, CSR, rolled product and management functional act up

07

Identified 8 business and 14 technical STARS

08

Role elevation and recognition given to 186 identified leaders across various talent development initiative

Average man-days of training achieved in FY22:

6.80

Executives

2.80

Workmen

0.50

Contract workers

312

Comprehensive training interventions

Diversity and inclusion

We, at Balco strive to bring a positive change and effectively contribute in building a meritocratic society, one which will be Balco free of discrimination, in terms of age, gender, race, colour, biological challenges, marital status, country, caste, or religion.

Under the umbrella of diversity and inclusion, we have always believed in providing equal opportunity to everyone (D&I). To support this, Vidya Rajput, a transgender rights activist who has been advocating for transgender rights, collaborated for transgender participation at BALCO.

To turn words into actions, we have employed four transgender people and placed in Business Partner roles, where they are contributing to our Company’s operational and organisational success. M/S Gear India employs transgender individuals in forklift operations. The project began with hiring four transgender people and will eventually expand to twenty.

163

Female employees

Occupational health and safety

In the interest of all the stakeholders, we, at Balco try to establish a sustainable business model by laying a strong emphasis on employee protection in the workplace from accidents, injuries, and exposure to harmful substances. We frequently hold safety training for our personnel to increase their awareness and behavioural safety (Chetna). Additionally, the Vedanta Sustainability Assurance Programme provides training for specific work responsibilities such as Emergency preparedness and response through DGFASLI. In case of prolonged absence (considered when taken for more than 90 days), employees are provided with the upgraded safety and well-being training courses.

Among the various initiatives taken in the path to health and safety, the following events were organised during the year:

  • Nukkad Natak on machine guarding and isolation safety to drive awareness at site
  • Inauguration of the AR/VR training centre
  • Sashakt Suraksha Card started for empowering shop-floor employees.

0.24

Lost time injury frequency rate (LTIFR)

1

Fatality

© Bharat Aluminium Company Limited - Annual Report 2021-22