Human Resources The Company recognises that a motivated, united and skilled team is essential for achieving operational excellence and growth. During 2024-25, the Company undertook the following key initiatives: i) digitalisation of HR processes and streamlining of onboarding and administrative workflows to enhance efficiency, ii) structured role rotations for broadening the capability of team members and preparing them for higher responsibilities and improving performance, iii) taking executive trainees, management trainees and first-line managers to develop internal talent pipeline and maximise internal appointments for middle and senior positions and iv) upgrading workplace infrastructure (office spaces at manufacturing facilities and cafeterias), to support the well-being and productivity of team members. Employee relations at all locations remained cordial. The number of team members in the Company increased from 3,597 to 3,782. This number comprises its team members as well as those working in its four subsidiary entities, namely Atul Consumer Products, Atul Crop Care, Atul Infotech and Atul Finserv. The number excludes team members in associate, joint venture and other subsidiary entities. The Company remains committed to investing in human capital, ensuring a future-ready team equipped to foster operational excellence and growth. It remains committed to building a professional and inclusive work environment that enables team members to reach their full potential while contributing to its long-term objectives and purpose. Audits are conducted in accordance with a risk-based internal audit plan which is duly approved by the Audit Committee. The scope and coverage of internal audit plan includes reviewing and reporting key process risks, adherence to operating guidelines and statutory compliances. Progress of the internal audit plans, significant audit observations and the status of agreed actions are reviewed by the Management on a monthly basis and by the Audit Committee on a quarterly basis. Enterprise Risk Management The Company believes that risks are inevitable in any business and its approach is to identify, track and mitigate instead of avoiding them. Enterprise risk management (ERM) is an integral part of a business and its framework includes the identification, classification, assessment, prioritisation, mitigation, monitoring and reporting of key risks. The Company has adopted a bottom-up and top-down approach to drive ERM. The bottom-up approach includes the identification and regular assessment of risks by respective businesses and cross-functional teams, along with a plan for mitigating such risks in a structured manner This is complemented by a top-down approach where the Senior Management ensures the comprehensiveness of the framework and effectiveness of mitigation measures and assesses long-term and macro risks. This helps in ensuring coverage of both internal and external risks in the risk registers. Risks are consolidated under major risk themes to create focus areas and prioritise mitigation plans. The Company has constituted an ERM council comprising Senior Management to ensure the adoption of a comprehensive framework and the effectiveness of mitigation measures. ERM is driven by the Board of Directors through the Risk Management Committee of the Board. 72 72 Integrated Annual Report 2024-25
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