Linde India : Business Responsibility & Sustainability Report 2023-24

Business Responsibilty and

Sustainability Report

Overview

Our Purpose

Linde is a leading global industrial gases and engineering company. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

Linde as a group stands for almost 140 years of technological progress. Technology, innovation and an inventive spirit have characterized our Company from the very beginning.

Linde India Limited is a member of Linde plc and one of the leading industrial gases companies in India.

Our Vision

We are committed to fulfilling our vision to be the best performing global industrial gases and engineering company, where our people deliver innovative and sustainable solutions for our customers in a connected world.

Our Mission

We live our mission of making our world more productive every day. Through our high-technology solutions, technologies and services we are making our customers more successful and helping to sustain and protect our planet.

Our Values

Safety

Integrity

Community

Inclusion

Accountability

Sustainable Development

Globally, we have set our Sustainable Development Targets in phases - phase 1 is 2018 to 2028, phase 2 is 2029 to 2035 and phase 3 is beyond 2035.

2018-2028 targets

35% reduction in GHG emissions intensity Best-in-class operational safety levels

35 community engagement projects annually

50% increase in philanthropy towards environment More than 2x low carbon electricity sourcing

Materiality, Priorities and Targets - SD 2028

Linde's ambitious Sustainable Development targets 2028 are our roadmap and plan for the next several years. Based on materiality exercise carried out by us, our priority targets are classified into four categories -

1. Climate Change
2. Safety, Health & Environment
3. People & Community
4. Integrity & Compliance

Commencing in 2018, they are 10-year targets that set a long-term strategy for sustainable development at Linde. They are consistent with Linde's business model, its mission and values, and the strategic business objectives.

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The targets were developed with reference to stakeholders' expectations. These include ESG investors, who look for non- financial information as the basis to make better informed investor decisions, such as the Sustainability Accounting Standards Board (SASB). They were also developed with stakeholders interested in understanding Linde's impacts within the context of global needs and planetary boundaries (such as described by the GRI Sustainability Reporting Standards and the UN SDGs).

Our SD targets contribute to several SDGs.

Increasing Renewable Energy Utilization	Lowering Fleet Emissions
Linde's energy management team in India signed several long-	One part of Linde's vision for 2050 is zero-emissions fleet. In
term power contracts to source renewable energy by setting up	India we have successfully implemented lesser run of fleet of
photovoltaic systems and wind turbines at several sites. These	trucks through optimisation of storage tanks and increase payload
contracts help Linde source at a rate that is less expensive	efficiency; better planning of distribution schedule to customers,
than if obtained from the grid. All projects are planned to be	use of telemetry. CNG trucks have been included in the fleet and
fully commissioned by 2024. This will result in more than triple	the Company is exploring options in LNG segment as well.
renewable energy as compared to 2021 and reduce Scope 2 GHG
emissions by 20 percent

SECTION A: GENERAL DISCLOSURES

1. DETAILS OF THE LISTED ENTITY

Corporate Over view

1. Corporate Identity Number (CIN) of the Listed Entity
2. Name of the Listed Entity
3. Year of incorporation
4. Registered office address
5. Corporate address
6. E-mail
7. Telephone
8. Website
9. Financial year for which reporting is being done
10. Name of the Stock Exchange(s) where shares are listed
11. Paid-upCapital
12. Name and contact details (telephone, email address) of the person who may be contacted in case of any queries on the BRSR report
13. Reporting boundary - Are the disclosures under this report made on a standalone basis (i.e. only for the entity) or on a consolidated basis (i.e. for the entity and all the entities which form a part of its consolidated financial statements, taken together)
14. Name of assurance provider
15. Type of assurance obtained

L40200WB1935PLC008184 Linde India Limited

1935

Oxygen House, P-43 Taratala Road, Kolkata - 700088 Oxygen House, P-43 Taratala Road, Kolkata - 700088 [e-mail]

[phone] www.linde.in

1 April 2023 - 31 March 2024 BSE Limited

National Stock Exchange of India Ltd. Rs. 852,842,230/-

Amit Dhanuka

Contact details: Telephone [phone]

E-mail address: [e-mail]

Futurestation Advisors LLP

Reasonable Assurance for BRSR Core attributes

Statutor y Reports

Financial Statements

51

1. PRODUCTS/SERVICES

16. Details of business activities (accounting for 90% of the turnover):

	Sl.		Description of Main Activity		Description of Business Activity
	No.
1.	Manufacturing		Manufacturing of liquefied or compressed
					inorganic industrial or medical gases
	2.		Construction		Construction of utility projects

• of Turnover of the entity
  72.26

27.74

17. Products/Services sold by the entity (accounting for 90% of the entity's Turnover):

Sl.		Product/Service		NIC Code		% of total Turnover
No.				contributed
1.	Liquefied or compressed inorganic industrial or medical gases	20111	72.26
2.		Project Engineering		42209		27.74

III.	OPERATIONS
18. Number of locations where plants and/or operations/offices of the entity are situated:
	Location	Number of plants	Number of offices	Total
	National	39	4	43
	International		Nil		Nil		Nil
19. Markets served by the entity:
a.	Number of locations
	Locations						Number
	National (No. of States)					21
	International (No. of Countries)						8

1. What is the contribution of exports as a percentage of the total turnover of the entity? Revenue from exports - Rs. 317.38 millions
   % of total turnover of the Company - 1.15%
2. A brief on types of customers:
   Our industrial and specialty gas portfolio typically caters to applications in industries like steel, automotive, pharma, metal fabrication, chemicals, food & beverage, solar panels, science and research etc. The healthcare segment focuses on gases delivery to hospitals and healthcare establishments. The Project Engineering Division provides customized engineering solutions across various industries - from natural gas and oil refining through petrochemicals and fertilizers to electronics and metal processing.

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IV. EMPLOYEES

20. Details as at the end of Financial Year:

1. Employees and workers (including differently abled):

Sl.	Particulars	Total (A)		Male		Female
No.	No. (B)	% (B / A)	No. (C)	% (C / A)
(Employees)
1.	Permanent (D)	236	211	89.4	25	10.5
2.	Other than Permanent (E)	162	151	93	11	7
3.	Total employees (D + E)	398	362	91	36	9
(Workers)
4.	Permanent (F)	33	32	97	01	3
5.	Other than Permanent (G)	680	672	99	08	1
6.	Total Workers ( F + G)	713	704	99	09	1

1. Differently abled Employees and workers:

Sl.	Particulars	Total (A)		Male		Female
No.	No. (B)	% (B / A)	No. (C)	% (C / A)
(Differently abled employees)
1.	Permanent (D)	Nil	Nil	Nil	Nil	Nil
2.	Other than Permanent (E)	Nil	Nil	Nil	Nil	Nil
3.	Total differently abled employees (D + E)	Nil	Nil	Nil	Nil	Nil
(Differently abled workers)
4.	Permanent (F)	Nil	Nil	Nil	Nil	Nil
5.	Other than permanent (G)	Nil	Nil	Nil	Nil	Nil
6.	Total differently abled workers (F + G)	Nil	Nil	Nil	Nil	Nil

Corporate Over view

21. Participation/Inclusion/Representation of women

Particulars		Total (A)
	6
Board of Directors
Key Management Personnel		3

22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)

Particulars			FY 2023-24						FY 2022-23
	Male		Female	Total	Male			Female	Total
Permanent Employees	7.3%	8.6%		7.5%		16.9%	11.1%			16.1%
Permanent Workers		17.14%		Nil		17.14%		19.2%			Nil			19.2%

No. and percentage of Females

No. (B)		% (B / A)
2	33.33
Nil		Nil

FY 2021

Male Female Total

13.7% 12.1% 13.6%

4.25% Nil 4.25%

Statutor y Reports

Financial Statements

53

1. HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES (INCLUDING JOINT VENTURES)

23. (a) Names of holding / subsidiary / associate companies / joint ventures:

Sl.		Names of the holding/ subsidiary/		Indicate whether		% of shares held
	associate companies/joint		holding/ subsidiary/
No.				by listed entity
	ventures(A)		associate/ joint venture

Does the entity indicated at column A, participate in the Business Responsibility initiatives of the listed entity? (Yes/No)

1	The BOC Group Ltd., U.K.		Holding		Nil		Yes
2		Bellary Oxygen Company Pvt. Ltd.		Joint Venture		50%		No
3		Linde South Asia Services Pvt. Ltd.		Joint Venture		50%		No
4		Avaada MHYavat Pvt. Ltd.		Associate		26%		No
5		FPEL Surya Pvt. Ltd.		Associate		26%		No
6		Zenataris Renewable Energy Pvt. Ltd.		Associate		23.96%		No

VI. CSR DETAILS

24. (i) Whether CSR is applicable as per Section 135 of Companies Act, 2013 (Yes/No): Yes

1. Turnover (in Rs.): 27,686.69 million
2. Net worth (in Rs.): 34,345.30 million

VII. TRANSPARENCY AND DISCLOSURE COMPLIANCES

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

Grievance

Redressal

Mechanism

FY 2023-24

FY 2022-23

in Place

Stakeholder group

(Yes/No)

from whom complaint

(If Yes, then

Number of

Number of

is received

provide

Number of

complaints

Number of

complaints

web-link for

complaints

pending

Remarks

complaints

pending

Remarks

grievance

filed during

resolution

filed during

resolution

redress

the year

at close of

the year

at close of

policy)

the year

the year

Communities

Yes*

Nil

Nil

Nil

Nil

Investors (other than

NA

shareholders)

Shareholders

Yes*

35

1

Resolved subsequently

41

Nil

Employees and

Yes*

1

Nil

Complaint filed under

Nil

Nil

workers

POSH & accused

terminated from

employment

Customers

Yes*

529

2

Both the complaints

536

1

Pending

were resolved since

redressal due to

then

long standing

unavailability of

spare parts.

Value Chain Partners

Yes*

Nil

Nil

Nil

Nil

Other (please specify)

NA

• https://www.linde-gas.in/en/images/Whistle%20Blower%20Policy_tcm526-657188.pdf

54

26. Overview of the entity's material responsible business conduct issues.

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or mitigate the risk along-with its financial implications, as per the following format:

					Indicate
	Sl.		Material issue		whether risk
	No.		identified		or opportunity
					(R/O)
1	Decarbonization		Opportunity
		Investment and
		Innovation
	2		Occupational		Opportunity
		and Distribution
		Safety
3	Diversity and	Opportunity
		Inclusion
4	Climate Change	Risk

Rationale for identifying the risk/opportunity

Low carbon power sourcing and efforts to reduce GHG intensity will impact the cost positively.

Aiming to achieve operational safety better than industry levels and also achieving annual vehicle Incident Rate of < 2.5 /million KM ensures greater productivity and better distribution, resulting into increased corporate profit. Company shall attract better talent and consequently superior work and performance. This translates into better corporate bottom line. The potential impact of this is both short term and long term. The climate risk assessment done by Linde Group identifies physical as well as transient risks to our business.

In case of

risk, approach

to adapt or

mitigate

-

-

-

Building

resilience

Financial implications of the risk or opportunity (Indicate positive or negative implications)

Positive

Positive

Positive

Negative

Corporate Over view

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the NGRBC Principles and Core Elements.

Disclosure Questions

P1

P2

P3

P4

P5

P6

P7

P8

P9

Policy and management processes

1. a. Whether your entity's policy/policies cover each principle and its

core elements of the NGRBCs.

Linde Code of Integrity

Yes

Yes

Whistle Blower Policy

Yes

Yes

Yes

Yes

Human Rights Policy

Yes

Yes

Anti-Bribery and Anti-Corruption Policy

Yes

Equal Opportunity Policy

Yes

HSSE Policy

Yes

Yes

Stakeholder Engagement Policy

Yes

Policy on Prevention, Prohibition and Redressal of Sexual Harassment

Yes

at Workplace

Corporate Social Responsibility Policy

Yes

Data Privacy Policy

Yes

Sustainable Supply Policy (Part of Supplier COC)

Yes

b. Has the policy been approved by the Board? (Yes/No)

Yes

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

Statutor y Reports

Financial Statements

55

Disclosure Questions

P1

P2

P3

P4

P5

P6

P7

P8

P9

c. Web Link of the Policies, if available

Code of Business Integrity: https://www.linde-gas.

in/en/images/4-17166-Code%20of%20business%20

integrity-6_tcm526-660615.pdf

Suppliers Code of Conduct: https://assets.linde.com/-/

media/global/corporate/corporate/documents/global-

procurement/linde_global_supplier_code_of_conduct.pdf

CSR Policy:https://www.linde-gas.in/en/images/

Linde%20India%20CSR%20Policy_24022022_tcm526-

676236.pdf

Whistle Blower Policy:https://www.linde-gas.in/en/

images/Whistle%20Blower%20Policy_tcm526-657188.

pdf

Human Rights Policy:https://www.linde.com/

sustainability/policies-and-position-statements/human-

rights-policy

Anti-Bribery & Anti-Corruption Policy: https://assets.

linde.com/-/media/global/corporate/corporate/

documents/compliance-policies/anti-bribery-anti-

corruption-compliance-policy.pdf

HSE Policy:https://www.linde.com/sustainability/

safety-health-environment-quality

All other policies are available on the Company's internal

network.

Some of the aforesaid policies are issued by Linde plc, the

ultimate holding company of Linde India Ltd., which apply

to all its operations globally includingLinde India Ltd.

2. Whether the entity has translated the policy into procedures. (Yes / No)

Yes

Yes

Yes

Yes

Yes

Yes

NA

Yes

Yes

3. Do the enlisted policies extend to your value chain partners? (Yes/No)

Yes

Yes

Yes

Yes

Yes

Yes

NA

Yes

Yes

4. Name of the national and international codes/certifications/labels/

ISO

9001:2015, ISO 14001:2015, ISO 45001:2018, ISO

standards adopted by your entity and mapped to each principle.

10002:2018, ISO10004:2018 and ISO/IEC 17025:2017

5. Specific commitments, goals and targets set by the entity with defined

Yes

Yes

Yes

Yes

Yes

Yes

No

Yes

Yes

timelines, if any.

6. Performance of the entity against the specific commitments, goals and

Yes

Yes

Yes

Yes

Yes

Yes

NA

Yes

Yes

targets along-with reasons in case the same are not met.

Governance, leadership and oversight

7. Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements (listed entity has flexibility regarding the placement of this disclosure):

The Company endeavors to continuously strive towards sustainability accompanied by growth and believes that its success will be determined to a great extent by its proactive response to environmental, social and governance targets. Towards this end, the Company has taken and will continue to take measures, focusing on business conduct and positive responses to sustainability issues pertaining to

	environmental and social matters.
	8. Details of the highest authority responsible for implementation and			Name: Mr. Abhijit Banerjee
	oversight of the Business Responsibility policy (ies).		DIN: 08456907
				Designation: Managing Director (MD)
	9. Does the entity have a specified Committee of the Board/ Director			Mr. Abhijit Banerjee, Managing Director (MD)
	responsible for decision making on sustainability related issues?
	(Yes / No). If yes, provide details.

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10. Details of Review of NGRBCs by the Company:

Indicate whether review was undertaken

Subject for Review

by Director / Committee of the Board/ Any

Frequency - Half yearly

other Committee

P1

P2

P3

P4

P5

P6

P7

P8

P9

P1

P2

P3

P4

P5

P6

P7

P8

P9

Performance against above policies and follow

Y

Y

Y

Y

Y

Y

NA

Y

Y

Y

Y

Y

Y

Y

Y

NA

Y

Y

up action

Compliance with statutory requirements of

Y

Y

Y

Y

Y

Y

NA

Y

Y

Y

Y

Y

Y

Y

Y

NA

Y

Y

relevance to the principles and rectification of

any non-compliances

N

N

N

N

N

N

NA

N

N

11. Has the entity carried out independent assessment/ evaluation of the working of its policies by an external agency? (Yes/No). If yes, provide name of the agency.

P1

P2

P3

P4

P5

P6

P7

P8

P9

Performance against above policies and follow up action

N

N

N

N

N

N

NA

N

N

12. If answer to question (1) above is "No" i.e. not all Principles are covered by a policy, reasons to be stated:

Questions

P1

P2

P3

P4

P5

P6

P7

P8

P9

The entity does not consider the Principles material to its business (Yes/No)

NA

NA

NA

NA

NA

NA

Yes

NA

NA

The entity is not at a stage where it is in a position to formulate and implement

NA

NA

NA

NA

NA

NA

NA

NA

NA

the policies on specified principles (Yes/No)

The entity does not have the financial or/human and technical resources

NA

NA

NA

NA

NA

NA

NA

NA

NA

available for the task (Yes/No)

It is planned to be done in the next financial year (Yes/No)

NA

NA

NA

NA

NA

NA

NA

NA

NA

Any other reason (please specify)

NA

NA

NA

NA

NA

NA

NA

NA

NA

Corporate Over view

Statutor y Reports

Financial Statements

57

SECTION C: PRINCIPLE WISE PERFORMANCE DISCLOSURE

PRINCIPLE 1:	Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical,
	Transparent and Accountable
Essential Indicators

1. Percentage coverage by training and awareness programmes on any of the Principles during the financial year:

		Total number		Topics / principles covered under the training		% age of persons in
Segment		of training		and its impact		respective category
	and awareness				covered by the
		programmes held				awareness programmes
Board of Directors	04		Code of Business Integrity, BRSR Core, Strategy	100
				Workshop, Plant Operations, Cyber Security.
Key Managerial Personnel		04		Code of Business Integrity, POSH, Human Rights, SHEQ,		100
				Cyber Security, Anti-Corruption Compliance Policy.
Employees other than BoD and KMPs		04		Code of Business Integrity, POSH, Human Rights, SHEQ,		100
				Cyber Security, Anti-Corruption Compliance Policy.
Workers		04		Code of Business Integrity, POSH, Human Rights, SHEQ		100

2. Details of fines / penalties /punishment/ award/ compounding fees/ settlement amount paid in proceedings (by the entity or by directors / KMPs) with regulators/ law enforcement agencies/ judicial institutions, in the financial year, in the following format (Note: the entity shall make disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity's website):

Monetary

NGRBC

Name of the regulatory/ enforcement

Amount

Brief of

Has an appeal been

Principle

agencies/ judicial institutions

(In Rs.)

the Case

preferred? (Yes/No)

Penalty/ Fine

Nil

Nil

Nil

Nil

Nil

Settlement

Nil

Nil

Nil

Nil

Nil

Compounding Fee

Nil

Nil

Nil

Nil

Nil

Non-Monetary

NGRBC

Name of the regulatory/ enforcement

Brief of

Has an appeal been

Principle

agencies/ judicial institutions

the Case

preferred? (Yes/No)

Imprisonment

Nil

Nil

Nil

Nil

Punishment

Nil

Nil

Nil

Nil

1. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision preferred in cases where monetary or non- monetary action has been appealed.
   Not applicable
2. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide a web- link to the policy.
   Yes, the Company has an Anti-Corruption and Anti-Bribery Policy.

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1. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement agency for the charges of bribery/ corruption:
   Not applicable
2. Details of complaints with regard to conflict of interest:

		FY 2023-24		FY 2022-23
Directors	Nil		Nil
KMPs		Nil		Nil
Employees		Nil		Nil
Workers		Nil		Nil

		FY 2023-24		FY 2022-23
		Number	Remarks		Number	Remarks
Number of complaints received in relation to issues of Conflict of		Nil	NA		Nil	NA
Interest of the Directors
Number of complaints received in relation to issues of Conflict of		Nil	NA		Nil	NA
Interest of the KMPs

The ingrained culture of the Company is to comply with all applicable provisions of the law as well as adherence to Code of Integrity and this has culminated in zero violations in such matters.

1. Provide details of any corrective action taken or underway on issues related to fines / penalties / action taken by regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflicts of interest:
   Not Applicable
2. Number of days of accounts payables ((Accounts payable *365) / Cost of goods/services procured) in the following format:

			FY 2023-24			FY 2022-23
Number of days of accounts payables
154	136

9. Open-ness of business

Provide details of concentration of purchases and sales with trading houses, dealers and related parties along-with loans and advances & investments, with related parties, in the following format:

Corporate Over view

Statutor y Reports

Parameter

Concentration of Purchases

Concentration of Sales

Share of RPTs in -

Metrics		FY 2023-24		FY 2022-23
Purchases from trading houses as % of total purchases	1	0.54
Number of trading houses where purchases are made from		85		56
Purchases from top 10 trading houses as % of total purchases from		63		71
trading houses
Sales to dealers/distributors as % of total sales		6		5
Number of dealers / distributors to whom sales are made		164		157
Sales to top 10 dealers/ distributors as % of total sales to dealers		56		52
/ distributors
Purchases (Purchases with related parties / Total Purchases)		48		33
Sales (Sales to related parties / Total Sales)		17		21
Loans & advances (Loans & advances given to related parties/		48		27
Total loans & advances)
Investments (Investments in related parties /Total Investments		99		99
made)

Financial Statements

59