As a part my obligation to be accountable to all my stakeholders, I present to you our sustainability progress during the period from April 2015 to March 2016. Our sustainability report, the second in succession, builds on foundations and processes that were deployed during the last three years. We are one of the leading producers of premium quality of spun yarn serving globally, with limited control over the value chain operations. Considering our role as a convertor in the value chain and consequent constraints, limitations and challenges, at each stage, we evaluate and make choices that are ethical, environmentally and socially sustainable.
Our business strategy is to increase our value added products (VAP) through product innovations by our team with the help of the facility provided in Centre Of Excellence (COE) as well as R&D centre. This will further strengthen our global market portfolio of value added products to improve our revenue and profitability in the coming years.
Our business is working closely and engaging with all stakeholders by ensuring the positive compliance in operations as per applicable laws and regulations and following best practices. As a responsible steward, we explore all improvement opportunities to conserve material, water, energy and minimize emissions, effluents and waste. Our approach is to engage all stakeholders in our strategy planning process where we discuss as well as evaluate the projects and elements of life cycle costing. We always steer towards cleaner and greener options. Despite resource constraints, we are continuously investing into modernisation plan, renewable energy, recycling and recyclability; and make choices that will sustain our growth. We are using renewable as well as non renewable energy in our units. We are continuously striving for maximum utilization of renewable energy which helps in reduction of carbon intensity. We are testing a number of products that blend both recycled and non-renewable fibres with cellulosic fibres, these offerings are in demand by certain key fashion brands. Hence, we have included 100% recycled polyester and blends in our product basket. We believe renewability and recyclability are part of sustainable head winds and accordingly we have made choices to address these emerging challenges.
We are continuously engaging and supporting all our shareholders and contribute to enriching their lives and business. We have increased our training man hours to all male (1198 man-hrs) and female employees (35224 man-hrs) significantly through various multi skill programs. We have assessed 30% of our active suppliers and 100% of our critical suppliers about their quality, environmental, labor and social impacts or ISO 9001, ISO 14001; OSHAS 18001 , energy management system ISO 50001, and key Human Rights tenets. We look forward further in collaboration with our key suppliers to understand, share and imbibe sustainability learnings. We have established our business share of 70% in value, to local vendors and establishments in the reporting period 2015-16, resulted in an increase of 25% in value over the previous year. In keeping with many of our initiatives, stakeholder satisfaction has steadily increased, e.g., local community satisfaction level in 2015 was 96%.
Our sustainability journey is successful with the help of all stakeholders’ encouragement including dedication of our employees. We endeavour to become a leading industry benchmark for sustainability processes and performance by 2020, to be known for quality consistency and not to restrict this to the quality of product but to the entire service being rendered to the customer including the impacts on the environment. We have undertaken key projects on improving and strengthening our supply chain value. The sole objective is to improve service to our customers. We understand that certain yarn blends despite its benefits can create environmental problems, such as toxic wastes during its production, its inherent non-biodegradability etc.
We have thus started making decisions which will shape the future of our company, our communities, and our planet. We are looking forward to collaborate with all stakeholders to overcome these challenges and implementing sustainability practices across the business.
We look forward to work with you on solutions that make a difference and help create a cleaner world.
Mr. Kapil Agrawal (Indonesia Spinning Business)