Stakeholder Engagement

Nuvoco Partners

At Nuvoco, we are committed to shaping a sustainable future and forging meaningful connections with our employees, suppliers, customers, regulators, investors, and the communities where we operate. Our stakeholder engagement process is strategically crafted to incorporate the priorities and expectations of our key stakeholders into our business strategy and decision-making. With a primary focus on addressing customer concerns, we prioritise nurturing relationships with all stakeholders. By engaging regularly, we gather insights on their concerns and issues, actively seeking input and feedback through multiple channels.
Customers
  • Why We Engaged

    We engage with customers to enhance our brand value through regular interactions, thereby driving growth in sales. Gathering insights on changing consumer behaviour inspires ongoing research, development, and innovation efforts, ensuring customer satisfaction and product excellence.

  • How We Engaged
    • Consistent interaction via emails, calls, SMS, brochures, and catalogues. On-site visits, exhibitions, and events
    • Client feedback, social media engagement and targeted marketing campaigns
  • What We Heard
    • Product cost and quality
    • Timely delivery
    • Post-delivery concerns
    • Responsible and sustainable production
  • How We Responded
    • Achieved 75% Customer Satisfaction Score
    • Enhanced customer experience
    • Developed innovative products and solutions that meet the specific needs of our clients
    • Provided high-quality products and solutions
Investors
  • Why We Engaged

    We engage with investors to shape our strategic capital deployment, leveraging their insights. Their financial backing fuels our business growth, while their business-oriented inputs help us achieve our goals effectively.

  • How We Engaged
    • Investor and analyst meets/calls, including one-on-one or group sessions
    • Quarterly investor and analyst calls
    • Annual General Meeting participation
    • Investor presentations
    • Annual report dissemination
    • Press release distribution
    • Transcripts provided for investor calls
  • What We Heard
    • Improved product value
    • Robust corporate governance
    • Enhancing revenue and market value
  • How We Responded
    • Focused on continuous deleveraging and improvement in performance
Communities
  • Why We Engaged

    We actively engage with communities to address their needs, with our CSR team consistently involved in planning and implementation. Our goal is to create a supportive, harmonious environment that promotes social cohesion & peace and essentially improves the quality of life of the communities in our areas of operation.

  • How We Engaged
    • CSR initiatives
  • What We Heard
    • Environmental quality maintenance
    • Local employment generation
    • Local community development
  • How We Responded
    • 3.78 crores spent on community development initiatives
    • 1,11,000+ beneficiaries impacted from community development initiatives
Employees
  • Why We Engaged

    Our employees are pivotal in upholding our commitments and shaping our work culture. Employee engagement is fundamental to optimising human capital performance, fostering holistic development, enhancing productivity, and driving business success. They are indispensable for executing strategies and ensuring sustained growth.

  • How We Engaged
    • Communication via Intranet Platform and Internal Newsletters
    • Communication via emails, one-on-one, and group meetings, including town halls
    • Employee engagement programmes tailored to regular and specific needs
    • Cultural events held regularly throughout the year
    • Ongoing training and development workshops
    • Regular health initiatives, tailored to needs when required
    • Scheduled performance appraisals
    • Grievance redressal mechanisms accessible at all times
  • What We Heard
    • Career and personal development opportunities
    • Training and development initiatives
    • Smooth and effective grievance resolution mechanisms
    • Appraisal and compensation processes
  • How We Responded
    • Devoted 30 average training hours per employee for the reporting year
    • Demonstrated robust employee engagement practices
    • Implemented well-defined training and skill development programmes aimed at fostering comprehensive workforce development
Regulatory Bodies
  • Why We Engaged

    We recognise that ensuring compliance is crucial for mitigating risks in our business and operations and safeguarding our brand reputation. Our commitment to corporate responsibility is intrinsic to our ethos, guiding our actions and decisions.

  • How We Engaged
    • Compliance with mandatory regulatory filings
    • Periodic submission of business performance reports as needed
    • Annual report publication
    • Written communications, including meetings, presentations, and reports, as well as networking in various forums organised by regulatory authorities as required
  • What We Heard
    • Regulatory compliance adherence
    • Managing social and environmental impact
  • How We Responded
    • Compliance with regulatory standards
Value Chain Partners
  • Why We Engaged

    We engage with suppliers upstream and dealers downstream to foster mutually beneficial relationships, optimising production cycles and procurement processes. This empowerment enables us to enhance value chain efficiency, competitiveness, and sustainability, exceeding customer expectations.

  • How We Engaged
    • Engagement via phone, emails, or in-person as necessary
    • Regular and as-needed participation in meetings, conferences, seminars, and workshops
    • Supplier capacity building and sustainability efforts tailored to needs
    • Conducting channel satisfaction surveys for dealers as required
  • What We Heard
    • Ethical business practices
    • Negotiation and timely payment terms
    • Sustaining ongoing business relationships
    • Preventing human rights violations within the supply chain
  • How We Responded
    • Encouraging suppliers to follow compliance and report progress based on environmental and social criteria
Contract Labourers
  • Why We Engaged

    Our labour force is vital to our operations, spanning manufacturing, production, packaging, and logistics. We engage with them to ensure a safe, healthy work environment, consistently upholding human rights, dignity, and mutual respect.

  • How We Engaged
    • On-site support and assistance provided as required
    • Regular meetings and training and workshops
    • Conducting safety audits on a regular basis
  • What We Heard
    • wages and timely payments
    • Providing a safe and healthy work environment
    • Offering training and skill development opportunities
    • Implementing grievance redressal mechanisms
    • Promoting respect for human rights and labour laws
  • How We Responded
    • Ensuring fair treatment and adherence to labour laws
    • Providing safe working conditions for contract labourers
    • Offering training and skill development opportunities to contract workers
    • Implementing grievance redressal mechanisms for contract labourers