Master Components Ltd

Sustainability

Precision. Responsibility. Built to last.

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Message from the Directors

Shrikant Joshi
Shrikant Joshi
Chairman & Managing Director
Mudduraj Kulkarni
Mudduraj Kulkarni
Whole Time Director & CFO

When we started Master Group nearly three decades ago, we built our business on two principles: precision and trust. Today, those same principles shape how we think about sustainability.

For us, ESG is not a parallel agenda. It is central to how we manufacture, source, employ, and serve. Responsible decisions, taken consistently, create durable value for our customers, our people, and the communities around us.

Our approach is supported by a Board-approved EHS & ESG Policy Manual covering sixteen policy areas across environment, labour, human rights, ethics, information security, and responsible sourcing. These commitments are further supported by measurable targets extending to 2030.

Master Components Ltd., the listed entity of Master Group, has also achieved TÜV SÜD Zero Waste to Landfill certification under DIN SPEC 91436 at Silver Maturity Level, becoming the first MSME in Maharashtra to receive this recognition. Across our operations, we continue to expand rooftop solar capacity, strengthen water accounting, improve resource efficiency, and uphold fair employment practices, including our commitment to fair compensation.

As a publicly listed MSME, our responsibility extends beyond compliance. We remain committed to building a resilient business that creates shared value for stakeholders while contributing to a cleaner, safer, and more responsible future.

Shrikant Joshi, Chairman & Managing Director
Mudduraj Kulkarni, Whole Time Director & CFO

Our Sustainability Approach

Sustainability lives at the heart of our MASTER values, anchored in our pillar of Safety & Sustainability: a secure workplace, responsible manufacturing, a better future.

Integrated by design.

We integrate environmental, social and ethical considerations into our operations and supply chain. Sustainability is an important part of responsible business performance, operational resilience and long-term value creation.

Guided by global frameworks.

We endorse the United Nations Global Compact and its Ten Principles on human rights, labour, environment and anti-corruption, and align our efforts with the UN Sustainable Development Goals to shape our sustainability priorities.

Measured. Benchmarked. Disclosed.

We track progress through voluntary BRSR disclosure filed for FY 2025-26, and participate in the EcoVadis assessment to benchmark our performance against recognized criteria and support continual improvement.

Built for long-term value.

Our approach strengthens responsible operations, builds resilience across the value chain, and delivers sustainable long-term value for every stakeholder.

How Sustainability is Managed

Sustainability at Master Components is managed through defined governance, cross-functional implementation, recognized management systems, and periodic review. This helps us integrate environmental, social, and ethical priorities into business decision-making and day-to-day operations.

1

Governance

Our ESG Committee, with representation from management and cross-functional departments, helps drive implementation across the organization. Key ESG policies, objectives, and KPIs are approved by the Board of Directors, and major ESG decisions are reviewed during Board meetings.

2

Management Systems

Our approach is supported by structured management systems and frameworks covering environmental management (ISO 14001), occupational health and safety (ISO 45001), and zero waste to landfill (DIN SPEC 91436).

3

Disclosure and Review

We communicate progress through annual sustainability disclosures, including voluntary BRSR reporting, and periodically review performance through external assessments and customer ESG audits.

4

Continuous Improvement

External benchmarking and stakeholder evaluations help us identify gaps, strengthen practices, and support continual improvement across our operations and value chain.

Key Focus Areas

Three areas where our actions speak for themselves.

Environmental Responsibility

Reducing the footprint of precision manufacturing.
Clean energy. Among the first companies in Nashik to install rooftop solar and feed power to the grid, with continued investment in efficient machinery across our facilities.
Circular materials. Recyclable industrial plastics. Regrind reused where quality permits.
Water stewardship. Water accounting, leakage correction, and closed-loop cooling.
Zero waste. First MSME in Maharashtra certified to TÜV SÜD's Zero Waste to Landfill (DIN SPEC 91436, Silver Maturity Level).

Social Responsibility

Investing in people. Strengthening communities.
Workplace safety. Zero-harm mindset. Regular training, audits, and reviews.
People development. Continuous upskilling and clear career paths, true to our value of grooming team members into leaders.
Living wages. A significant share of our workforce is paid living wages, with a commitment to fair compensation across the board.
Community engagement. Partnerships with local educational institutions and skill-development initiatives in manufacturing.

Ethical Responsibility

Doing business the right way, every transaction.
Sixteen-policy framework. Board-approved EHS & ESG Policy Manual covering environment, labour, human rights, ethics, information security, and responsible sourcing.
Anti-bribery & integrity. Zero tolerance for unethical practices. Defined whistle-blower mechanisms.
Listed-company governance. Transparent disclosure to investors and regulators as a publicly listed MSME.
Supply chain standards. ESG criteria progressively embedded into how we evaluate and engage suppliers.

Sustainability Highlights

Independent recognition for our commitment to quality, safety, and responsible manufacturing.