Century Plyboards (India) Limited has announced that its ESG rating remains unchanged at 72.5 for the fiscal year 2025, based on publicly disclosed information. The rating was independently assessed by SES ESG Research Pvt. Ltd. The company showed improvements in several environmental metrics, including a 79.57% share of renewable energy and the implementation of Zero Liquid Discharge mechanisms across all facilities. Social performance also saw an increase in the overall score, driven by progress in Health & Safety and CSR initiatives.
ESG Rating Update for FY 2025
Century Plyboards (India) Limited confirmed receipt of its updated ESG Report from SES ESG Research Pvt. Ltd., noting that its overall ESG score remains stable at 72.5 for the fiscal year 2025. This assessment utilized publicly available data for the period ending March 31, 2025. The company’s adjusted ESG score reflects continued efforts across the Environmental, Social, and Governance pillars, leading to a 4.5 point year-on-year increase in the raw ESG score, moving from 68.0 in 2024 to 72.5 in 2025.
Environmental Pillar Highlights
The Environment pillar score saw a notable rise to 61.0 (Adjusted), up from 44.1 previously. Key improvements were highlighted:
- The share of renewable energy in total energy consumption increased to 79.57% in FY 2025.
- The company successfully implemented Zero Liquid Discharge (ZLD) mechanisms across all Indian facilities.
- Energy intensity relative to turnover and physical output decreased in FY 2024-25 compared to the previous year.
However, the disclosure notes that Scope 3 emissions data were not disclosed, and other air emissions (like SOx and PM) increased year-on-year.
Social Pillar Performance
The Social score saw an improvement, reaching 73.9 (Adjusted). Significant positive achievements included:
- Zero fatalities were recorded in FY 2024-25.
- 100% of the workforce received human rights training.
- There were zero sexual harassment complaints for the last two years.
- Employment among differently-abled individuals increased year-on-year over the last 3 FYs.
Areas requiring attention include the low representation of women in the total workforce at 4.11%, and a material gap (over 20%) in the median remuneration between male and female workers.
Governance Pillar Assessment
The Governance pillar score remained strong at 80.5 (Adjusted). The company achieved a perfect score of 100 in Compliance, reflecting adherence to legal requirements.
SES flagged specific governance concerns:
- The Board size of 16 Directors was considered oversized relative to the company’s operations.
- SES noted governance concerns regarding the Chairman also holding the position of Managing Director, potentially leading to power concentration.
- Attendance by one director at Board Meetings was only 50%, falling below the 75% SES benchmark.
Core Parameters and Business Openness
The Core ESG Score, based on SEBI-identified core parameters, was rated at 89, reflecting adequate disclosure on core indicators for the last two fiscal years. Furthermore, the company demonstrated efforts in supply chain management, with direct sourcing from within India at 74.00% and increased sourcing from MSMEs/small producers to 10.90% in FY 2025.
Material Issues and SDG Mapping
The company identified 14 material issues, categorizing most as Risks & Opportunities. SES confirmed that while the company did not initially disclose SDG mapping, the required reference was subsequently provided via an update. The company’s broad Business Responsibility and Sustainability (BRS) Policy covers all specified environmental parameters, despite the lack of separate, dedicated policies for areas like Climate Change and Water Stewardship.
Source: BSE
