Piramal Pharma Limited (PPL) has released its third annual independent Sustainability Report for the fiscal year 2023-24, under the theme ‘Building Resilience for a Sustainable Tomorrow.’ This report showcases the company’s dedication to sustainability through four main strategic pillars: Responsible Operations, Business Resilience, Customer Centricity, and Quality & Excellence. These pillars highlight PPL’s focus on climate action, supply chain accountability, innovation, and operational excellence, all while prioritising the welfare of its employees and the communities it serves.
PPL is dedicated to ‘Operating Responsibly, Growing Sustainably,’ aiming to establish itself as a global leader in pharmaceuticals, driven by principles of sustainability, inclusivity, and ethics. The company’s comprehensive approach integrates sustainability into all operations and decision-making processes, focusing on 12 key areas and 28 material topics, supported by over 50 specific, time-bound targets. This framework enables PPL to effectively manage its sustainability responsibilities and make a significant impact across its global operations and value chain.
Nandini Piramal, Chairperson of Piramal Pharma Ltd., remarked, “As we progress on our sustainability journey, our commitment to transparency, accountability, and continuous improvement in our business practices is unwavering. This Sustainability Report not only showcases our achievements but also demonstrates our ability to adapt to evolving global standards. We have significantly refined our data precision by thoroughly reassessing our Scope 1 and 2 greenhouse gas emissions and energy usage for FY 2023, allowing us to effectively assess and manage our environmental footprint. Moving forward, we remain dedicated to fostering sustainable growth; reinforcing our core purpose of ‘Doing Well and Doing Good,’ while enhancing our focus on achieving meaningful progress towards a more sustainable future.”
Key Highlights of the Report:
Responsible Operations
PPL has made considerable strides in its energy efficiency initiatives, achieving a 29% rise in renewable energy usage. The company aims to achieve a 42% reduction in its overall Scope 1 and 2 greenhouse gas emissions and a 25% decrease in Scope 3 emissions by the fiscal year 2030, using fiscal year 2022 as the baseline, a target confirmed by the Science Based Targets initiative (SBTi). Energy audits have been conducted at all facilities, identifying opportunities for emission reductions through renewable energy sourcing (13%), low-carbon fuel switching (21%), and energy efficiency measures (7%). In both India and the UK, the company successfully recycled 80% of non-hazardous waste and planted 2,440 saplings, implementing 15 water-saving micro-projects in India that resulted in daily water savings of 114 kilolitres.
Business Resilience
PPL has introduced a Sustainable Procurement Policy and updated its Supplier Code of Conduct to ensure sustainable practices throughout its supply chain. Initiatives include the implementation of multi-factor authentication for O365 and improved data protection measures at North American sites, along with conducting Vulnerability Assessment and Penetration Testing (VAPT) scans. The company continues to invest in a diverse, inclusive, and accessible workplace, with women comprising 17.3% of its global workforce, including 72% of new campus hires. PPL has established rigorous health and safety initiatives that ensure its Lost Time Injury Rate (LTIR) remains under 0.2 incidents for every 200,000 person-days worked. Furthermore, PPL has launched a sustainability e-learning module for employees, with approximately 200 senior leaders in India taking part in Diversity, Inclusion, Belonging, and Accessibility (DIBA) workshops.
Quality & Excellence
In the fiscal year 2024, PPL successfully conducted 341 regulatory inspections, which included 44 assessments by the U.S. authorities FDA, with no critical observations. Moreover, nearly 1,746 customer audits were performed across the company’s worldwide operations. Automation has played a crucial role in enhancing efficiency, with 70% of six major operational excellence KPIs automated across 11 sites. The firm has launched 23 additional robotic process automation (RPA) initiatives, bringing the total number of operational processes to 54.
Customer Centricity
PPL recorded a customer satisfaction score of 85% for its Contract Development and Manufacturing Organization (CDMO) business and 87% for its Consumer Healthcare (CHG) business. The Net Promoter Scores (NPS) stood at 57 for CDMO and 65 for CHG.
The Sustainability Report adheres to GRI standards and aligns with SASSB and UNGC frameworks, demonstrating PPL’s commitment to sustainable growth, responsible capital allocation, and impactful stakeholder engagement.