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Home > Details of CSR of 501-1000 companies - 2008 > Details of CSR of the 501-1000 companies for the year 07-08


Details of the CSR activities of the 501-1000 companies for the year 2007-2008. This section is currently being developed, and hence information and ratings displayed in this section are at a draft stage. We request you to please give us your comments, feedback and any more information that you may have regarding CSR activities of the companies listed here.

Also see :Corporate Social Responsibility   Details of CSR of 1-500 companies - 2008   Karmayog CSR Ratings - 2008   Karmayog CSR Ratings 2007


 
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Titan Industries Ltd.

 

Sales (2007-2008) = Rs. 3000 crores (rounded off)

Net profit after tax = Rs. 160 crores (rounded off)

CSR Budget = Not Available

 

 

Karmayog 2008 CSR Rating:  4/5

 

 

CSR activities:

 

Social Initiatives  

Corporate Social Responsibility

We believe that Corporate Social Responsibility is not an externalised activity nor is it only philanthropy. It is an internal process reflecting the soul of the Company.

 

Titan's Community Development Policy - Experiencing the joy of sharing.

 

"Titan's initiatives will improve the quality of life of the communities in which it operates. Titan will build partnerships for the social development of the communities in which it operates. Titan will focus on initiatives, which can be sustained by the communities in which it operates".

 

Titan has holistically integrated the CSR process and has programs covering the following:

»» Employing the physically challenged.

»» Women's empowerment. Partnering with self help groups amongst rural women for outsourcing components, bracelets - the Meadow Project with Myrada.

»» The Titan school and the Titan Foundation for Education - a primary school currently enrolling 300 students.

»» The Titan Scholarship - meant for students in Dharmapuri and Krishnagiri based on the criteria of academic performance and socio-economic background.

»» The Titan Township -building a sustainable community in Hosur providing a home to 1300 residents.

»» Community Development Forums - Eye care camps, Eye donation initiatives - Aids Awareness- Programs for the differently abled - No tobacco drive, Children's programs.

»» Volunteering in Hosur, Corporate Office as wells as Regions.

»» Partnering with NGOs like CRY, Concern India and Ashraya.

»» Improving the quality of life for children - the TATA -TCCI -TITAN Bal Bhavan Children's park project at Cubbon Park , Bangalore .

 

The community appreciated and recognized us by awarding us:

»» The Government of Tamil Nadu's award for being the "Largest Employer of the handicapped". This award was conferred on us in the years 1993 and 1996.

»» The Mother Teresa award for the best Corporate Citizen in 1998.

»» The Helen Keller Award in 1999.

»» FICCI-SEDF award in 2001-02 for Social Responsibility.

»» The Rotary Club of Bangalore Award for the Corporate Citizenship.

»» The Mother Teresa, Helen Keller and the Rotary Awards for Corporate Citizenship.

»» The PHDCII Award for Good Corporate Citizenship.

 

Titan and the Environment - ISO 14001 but going beyond Compliance

Titan's products and services have very little or marginal impact on the environment. Titan adheres to all related legal and statutory requirements. The Company is also extremely conscious of environmental issues and has been recognized in this regard by the Hosur Industries Association. The Company's environment control results are continuously monitored with respect to both TNPCB and International Finance Corporation (World Bank) norms. The Company has been certified under ISO 14001 EMS standards.

 

Initiatives taken:

· Minimizing the use of cyanides in plating by adopting non-toxic PVD technology.

· Eliminating the use of ozone-depleting substances ahead of the Montreal Protocol deadline.

· Minimizing the use of plastic packaging with eco-friendly materials.

· Adopting Vermi-composting for the conversion of garden / vegetable waste in to useful manure.

· Piloting the study of conversion of industrial waste into useful civil materials.

· Promotion of rainwater harvesting at manufacturing locations.

· Waste water treatment with efficient effluent treatment and use for industrial cleaning and gardening.

· Recycling brass scraps.

· Rainwater harvesting in 3 manufacturing locations.

 

Results:

· Energy consumption per watch reduced by 41%.

· Cumulative Energy savings - 26 Lac kwh.

· Water consumption per watch down by 47%.

· Daily plant water consumption reduced by 28%.

· Brass scrap recycling back to process - saving during 2002 - 03 Rs.62 Lacs

· Adhering to all Statutory norms. As a culmination of all these initiatives, we received The Golden Peacock- Environment Management Award 2003 - at the 5th World Congress on Environment Management.

 

Titan Industries is a signatory to the Global Compact and is committed to the implementation of the 10 principles of the Global Compact. Titan Industries is also guided by the principles of the Global Reporting Initiative.

 

There is a process of continuous dialogue and feedback with employees, respective departments and business partners, to ensure adherence. E.g. Labour standards are complied with as per the laws of the land and there is no evidence of any employment of child labour.

 

The management of Business Ethics is facilitated by compliance of the Tata Code of Conduct.

 

The Company's credo towards CSR:

 

Social Responsibility-an initiative today, a mandate tomorrow. Bringing a smile to the community creates customer affection ensuring sustainability.

 

(Pg. 10, 12, Annual Report 2007-08)

 

Corporate Sustainability:

Titan Industries has a clearly defined policy on Corporate Sustainability. The approach of its policy continues to be at three levels, the first one being at the Group level where it works closely with the Tata Council for Community Initiatives, the nodal apex body for facilitating Tata Group initiatives.

At the Company level, key initiatives have been:

• Engaged 330 rural women through self help group and provided them opportunities for various  outsourced activities in manufacturing/assembling of Watches, Jewellery and Precision Engineered products.

• Over 600 needy students in the disciplines of Vocational, Medicine & Engineering have benefited from Titan Scholarship program.

• The Jewellery Division started the concept of Karigar Park by providing equipment, material and training to Karigars so that they can work directly under the supervision of the Division and earn money on job-work without any exploitation. At present there are more than 400 Karigars working on six Parks.

• The Company has established a Basic Training Centre to impart technical skills to youth from lower economic background to make them employable. Currently 96 students are studying in the centre.

 

At the individual level, Titan volunteers comprising the Community Development Forum have taken up comprehensive vision care program in and around Hosur with a leading Super Specialty Eye Hospital in Bangalore . Eye camps are being conducted and an eye care clinic has been opened in Hosur to cater to the needy and poor.

 

• Other programs include programs for skill development for rural women, infrastructure improvement in villages and creating awareness on hygiene and clean environment.

 

The Company is proactive in its approach towards the Environment and is compliant with statutory and regulatory requirements.  The Watch, Jewellery as well as the Precision Engineering Divisions are certified under ISO 14000:2004 Environment Management System Standards and under ISO 9001:2000, Quality Management Systems Standards.

 

Titan Industries is a signatory to the 10 principles of the Global Compact with its ‘Communications on Progress’ (CoP) duly posted on the UN Global Compact website.

 

Awards and Recognitions:

Titan Industries Ltd was adjudged one of the World’s 50 “Domestic Dynamos” by Boston Consulting Group in a survey of the top 50 fastest growing domestic companies countering multi national majors in their respective domestic markets through innovative products and marketing thus continuing to grow at an accelerated pace despite international competition.

 

The Company also continued to be recognised for its product and retail brands and its innovations as under:

- Won the Top Retailer 2007 Asia Pacifi c - Bronze Award

- Won Marico Erehwon Innovations for India Award for the slimmest watch - Titan Edge

- Titan the brand won Images Fashion Award for the ‘Most Admired Brand for the year 2007-08  for the 7th consecutive year’.

- Titan Industries Ltd won the Images Fashion Award for the ‘Retailer of the Year’.

- Titan Brand was ranked fi rst amongst the consumer durables category in a survey by Economic Times.

 

Green Power (Pg. 12)

Your Company is planning to consume 30% of its energy consumption at watch manufacturing facility through the renewal energy resources. During 2007-08, 1.0 million units of energy has been sourced from the private wind farms and for 2008-09 targeted generation of energy is 4.0 million units. This will lead to the energy cost reduction to an extent of Rs. 0.13 crore.

 

Source: 

http://www.titanindustries.in/stores/watches/social.asp - Social Initiatives

http://www.titanindustries.in/stores/watches/pdfs/Titan%20Industries.pdf – Pg. 10, Annual Report 2007-08 – Corporate Sustainability

 

 

Contact Information:

Titan Industries Ltd.

3, SIPCOT Industrial Complex

Hosur 635 126

Tamil Nadu, India

Phone               : 4344 – 664199

Fax                   : 4344 - 276037

E-mail               : webmaster@titan.co.in , manufacturing@titan.co.in , ushai@titan.co.in

Website            : http://www.titanindustries.in/

 

 

Industry Sector: Watches & Accessories

 

 

Products / Services: Watches & Accessories

 

 

Other locations of factories / offices: 

Corporate Office – Bangalore

Regional Offices – Bangalore , Mumbai, New Delhi , Kolkata

Manufacturing Divisions – Tamilnadu (Hosur), Uttaranchal (Dehradun – 2 in Khasra, Haridwar - Roorkee), Goa (Salcette), Himachal Pradesh (Baddi)

247 exclusive showrooms christened World of Titan', making it amongst the largest chains in its category backed by 700 after-sales-service centers

 

 

Previous year’s CSR activities & rating:

www.karmayog.org/csr500companies/csr500companies_8619.htm

 

 


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