Human Capital

Employee Engagement

At SRF, we strive to create a work environment where every employee feels valued, encouraged, and empowered to grow. Guided by our people-first philosophy, we design purposeful roles and adopt progressive, employee-centric policies that support fulfilment and well-being. Our culture is founded on inclusion, and innovation, inspiring our people to continuously develop both personally and professionally.

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In FY26, we continue to strengthen employee engagement through both longstanding cultural initiatives and new, centrally-driven interventions. In addition to the employee recognition platforms such as Long Service Awards and Protsahan, we have enhanced our focus on succession planning, career progression linked with TQM, and the formalisation of campus management processes.

The application of predictive HR analytics was further expanded for data-driven decision-making. Collectively, these efforts have contributed to sustained employee engagement, strengthened talent pipelines, and enhanced long-term organisational resilience.

Retaining Talent

We strengthened our reward framework by adopting market-aligned compensation benchmarking practices that support fair pay, internal equity, and long-term employee retention. Complementing this, our Employee Value Proposition (EVP) is built around the principles of trust and fairness, empowerment, and continuous learning. Together, these elements help us attract high-quality talent, nurture long-term engagement, and create a positive, motivating workplace culture.

Learning and Development

At SRF, we see employees’ learning and development as a cornerstone of sustained organisational success. We are committed to continuously upgrading skills and capabilities to ensure our people remain future-ready and aligned with changing industry needs. Our learning and development ecosystem offers a blend of experiential, on-the-job exposure and structured classroom training, complemented by focussed programmes and capability-building workshops, including initiatives supporting digital transformation.

In FY26, we established a comprehensive Learning & Development framework to deliver an integrated approach to capability building, aimed at enhancing performance and preparing our workforce for future opportunities. By aligning individual development aspirations with organisational priorities, the framework ensures that learning is purposeful, impactful, and ongoing. Learning interventions continued to blend experiential exposure, classroom learning, and digital modes.

Our Learning & Development framework is playing a pivotal role in transforming a future-ready workforce by

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Skill Enhancement

We continue to strengthen workforce capabilities through well-structured, inclusive, and digital-enabled learning frameworks. Our approach encourages continuous development across all levels by using multiple learning formats. These include competency-driven programmes delivered through classroom sessions, gamified learning, and experiential activities for certain groups, while others benefit from targeted capability building guided by a structured Skill Matrix. To enable flexible, self-directed learning for all employees, we also offer access to a comprehensive library of online courses and offline resources, ensuring a well-rounded and engaging learning experience.

We added the following trainings in our training database among many others during the year

• Microsoft Fabric Capabilities Program: This program was designed to build advanced data and analytics capabilities, enabling employees to leverage Microsoft Fabric for unified data integration, real-time analytics, and business intelligence. It empowers teams to make faster, data-driven decisions and enhances overall digital proficiency
• AI in HR: This program was aimed at transforming HR practices, this program focusses on the application of Artificial Intelligence in talent management, recruitment, learning, and employee engagement. It equips HR professionals with the knowledge to leverage AI tools for predictive insights, automation, and strategic decision-making
• Six behavioural training modules i.e. Building Working Relationships, Coordinating with Others, Managing Procrastination, Perception Management, The Art of Storytelling, and Winning Attitude

SOUL: Our Learning Management System

All learning initiatives are enabled through our online learning portal SOUL, SRF’s Learning Management System, which offers personalised learning journeys, progress tracking, multi-device access, and integration with LinkedIn Learning, providing complimentary access to over 10,000 expert-led courses and certifications along with 100+ in-house courses specially curated for our workforce, carefully designed to address organisation-specific functional, and behavioural capability requirements and more. To further strengthen technical capability building, SRF has partnered with Udemy, enabling employees to upskill at their own pace. Complementing digital learning, a centralised library offers access to thousands of physical books across genres.

Ensuring Mental and Emotional Well-being

We prioritise health and well-being of our workforce. Recognising the broad dimensions of well-being, we have rolled out multiple initiatives, including wellness webinars centred on the eight pillars of wellness – Intellectual, Occupational, Spiritual, Financial, Mental, Physical, Emotional, and Social.

We conducted regular well-being webinars throughout the year, covering topics such as workouts at workplace, intellectual self-care, and staying active and healthy during demanding work schedules. Our wellbeing initiatives included a dedicated “well-being month” in which employees participated in daily challenges aligned to the eight wellness pillars, witnessing strong engagement across locations.

We also offer reimbursement for physical well-being expenses, preventive health check-ups, and strengthened access to healthcare through DocOnline, which provides 24x7 teleconsultations with multi-specialty doctors via chat, audio, phone, or video. Access is enabled through single-sign-on (SSO) and a mobile application for seamless usage by employees and their families.

Our Employee Assistance Program (EAP) was further strengthened by expanding services and running sensitisation campaigns and walkthrough sessions to improve awareness and utilisation. Key offerings include unlimited consultations with psychologists and mental health experts, therapy, self-care tools, journaling, and life-event support. Our employee rejuvenation avenues were expanded with enhanced access to Club Mahindra, reinforcing recovery and work–life balance.

We are committed to fostering flexibility and employee well-being through progressive work practices. We offer flexible working hours to support better work-life balance and individual productivity needs. Where feasible, we enable working-from-home arrangements to provide convenience and continuity. Additionally, we provide part-time working options to accommodate diverse personal and professional requirements.

Maternity and Well-being

Our Maternity Counselling Program ensures structured guidance and emotional support for expectant and new mothers. The programme supports employees through pre- and post-childbirth phases, helping them navigate this important life transition with confidence. In line with the organisation’s inclusive philosophy, the service also extends to spouses of male employees.

We also conducted sessions focussing on women’s health – including a dedicated session on breaking myths around menopause – were conducted to foster awareness, normalise conversations, and strengthen workplace support for women across life stages. The structured crèche management framework continued to support working parents by enabling balance between professional and personal responsibilities.

Employee Volunteering Initiatives

Pahal, our employee volunteering programme, continues to encourage employees and their families to contribute positively to society. During the year, employees participated in skill-development sessions, donation drives, and initiatives supporting cancer care, reinforcing the organisation’s commitment to social responsibility and employee purpose beyond the workplace.

Diversity, Equity and Inclusion

At SRF, inclusion and fairness form the foundation of how we work and grow as an organisation. We are committed to creating a culture that respects individuality and provides equal opportunities for everyone, irrespective of gender identity, age, background, disability, belief, or personal circumstances. A strong framework anchored in clear policies and transparent processes reinforces our zero-tolerance approach to harassment, ensuring a safe, respectful, and dignified workplace for all.

Our focus extends beyond representation to fostering an environment where every individual feels heard, valued, and empowered to succeed.

During FY26, the DE&I Framework was reviewed to adopt a more actionable approach, strengthen governance mechanisms, and ensure closer alignment with strategic priorities. Our targeted gender-sensitisation programmes and inclusive workplace initiatives contributed to a 4% increase in women workforce within the workforce (excluding contractual workers) during the year.

As part of our zero-tolerance approach to harassment, we conducted interactive PoSH awareness sessions, complemented by a PoSH e-learning module available in vernacular languages to ensure broader reach and comprehension. Awareness campaigns, including workshops, strengthened understanding of prevention, recognition, and reporting mechanisms. Our robust PoSH framework, Internal Committees, and a 24x7 helpline continued to support safe and respectful workplaces.

Rise to Aspire

Building on our commitment to empowering women at workplace, we organised ‘Rise to Aspire’ for women officers in mid-junior management, focussing on confidence building, aspiration, and leadership-readiness. This initiative reflects our continued efforts to create an enabling environment that supports women’s growth, leadership development, and long-term career advancement.

Strengthening Accessibility and Inclusive Infrastructure

We continue to advance our commitment to inclusion by creating accessible and supportive environments for persons with disabilities. Regular assessments are carried out across our facilities to review accessibility parameters such as ramp gradients, physical access points, restroom facilities, and wayfinding signage. These evaluations enable us to identify gaps and implement improvements, helping foster safer, more inclusive, and barrier-free workplaces for all.

Rewards and Recognition

At SRF, we have built a merit-based Rewards and Recognition program to encourage and retain a skilled and diverse team. This program includes a mix of financial rewards, non-monetary appreciation, and both informal and formal recognition methods. Whether through informal appreciation or structured recognition programs, we aim to acknowledge and celebrate the contributions of our employees.

Online Rewards and Recognition

Recognition plays a vital role in our culture, and we bring this to life through our dedicated Rewards & Recognition Policy. This Policy is thoughtfully designed to offer a variety of formal and informal avenues to celebrate the efforts and achievements of our employees. Through this framework, we acknowledge contributions through spot awards, special achievement awards, and significant contribution awards. We also make space for everyday recognition with birthday vouchers, well done cards, thank you cards, and nice idea cards. One of the key highlights is our annual “Protsahan” awards, which acknowledges exceptional performances. To ensure that recognition feels meaningful and visible, our local HR teams regularly host individual or group events that publicly celebrate and appreciate the awardees.

Human Rights

At SRF, we uphold a strong commitment to human rights and strive to maintain a work environment that is free from discrimination, harassment, or any form of unfair treatment. We follow a strict zero-tolerance approach toward human rights violations and ensure that grievances raised by stakeholders are addressed in a fair and timely manner. Our Human Rights Policy has been developed referring to internationally accepted standards such as International Labour Organisation (ILO), and reinforces our commitment to preventing child and forced labour, promoting equal opportunity, and complying with applicable labour laws.

We endeavour to provide a safe, healthy, and respectful workplace where employees feel protected and supported. Employees and worker representatives are encouraged to share feedback and suggestions for improving workplace conditions through both formal and informal channels. We have established robust mechanisms for reporting concerns related to human rights, supported by our Code of Conduct and Whistle-blower Policy. In addition, we expect our suppliers and contractors to adhere to the same human rights principles that guide our own operations. During the year, we observed zero human rights violations.

Additionally, we continue to invest in skill development, health and safety initiatives, and programmes that support the overall well-being of our workforce. We are also committed to ensuring fair and equal career progression opportunities for all employees, including those returning from maternity or paternity leave – reflecting our broader belief in fostering a workplace grounded in fairness, inclusion, and respect for every individual.

Grievance Redressal

Maintaining trust and accountability is central to how we operate at SRF. That’s why we have built a culture that values open communication and encourages stakeholders – be it our employees, investors, partners, or shareholders – to voice their concerns, feedback, and suggestions.

We have implemented a structured grievance redressal system that includes individual feedback, surveys, and engagement through multiple channels. This system helps us address a wide range of concerns, from policy-related matters and workplace conditions to health, safety, or employee conduct. This approach enables us to resolve issues efficiently while reinforcing our commitment to transparency, respect, and continuous improvement.

Performance and Career Development

Recognising the hard work of our employees and workers is imperative to our overall growth. We consider that regular performance and career development conversations are essential to nurturing talent and unlocking potential within our teams. Employee evaluations serve as structured opportunities for employees and managers to align on performance expectations, review progress, and discuss future aspirations. We follow a structured mechanism for continuous feedback and developmental conversations. Quarterly feedback cycles, along with an annual review, are conducted across the Company to encourage transparent performance discussions. Focussed sensitisation initiatives were undertaken to build manager and employee capability in giving and receiving feedback effectively, thereby strengthening openness in performance conversations and reinforcing a culture of continuous improvement, trust, and growth. Additionally, we encourage open dialogue about career interests, helping employees identify the skills they need to advance and create development plans accordingly.

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performance and career development reviews of employees and permanent workers

Occupational Health and Safety

We remain committed to ensuring a safe, healthy, and supportive work environment for all our employees and workers, including the contractual workforce. Our primary objective is to reduce workplace injuries and fatalities; and to prepare for and respond to emergencies by fostering a culture of safety across our operations. To ensure this, we have implemented a robust health and safety management system at all our manufacturing facilities, aligned with the internationally recognised ISO 45001:2018 standards. Based on outcomes of internal assessments on health and safety parameters across our plants, our health and safety teams have robust action plans in place to ensure a safe and healthy workplace. Additionally, our EHS teams regularly engage with workers and workers’ representatives on improvement of working conditions.

Refer BRSR principle 3 for more details

Labour Relations

We are committed towards maintaining a respectful and collaborative workplace. We strive to uphold conducive labour relations by fostering fairness, trust, and open communication across all levels of our organisation. Extending our commitment beyond regulatory compliance, we bring our practices in line with international labour standards, including those set by the International Labour Organisation (ILO), and routinely conduct assessments to ensure we are meeting expectations and identifying areas for improvement. We ensure our workforce welfare measures – such as maximum hours of work, payment to workers on earned leave and annual leaves, etc are robust and consistently upheld across our operations. We are committed to providing equal remuneration to our male and female workforce.

We believe that a thriving workforce requires active participation and shared dialogue. To support this, we have set up various committees that bring together both management and non-management representatives. These include employee associations and committees for canteen management and health and safety as well. They serve as important platforms for raising concerns, sharing feedback, and working collaboratively toward solutions. We encourage and support these efforts as they help build a more inclusive and responsive workplace.

Trainings on Safety

We remain committed to fostering a safe and secure work environment across all our operations. To strengthen this commitment, we undertake comprehensive health and safety training programmes and awareness initiatives across our manufacturing facilities. These initiatives are designed to proactively identify and mitigate potential risks, reinforce a culture of safety, and ensure full compliance with applicable regulatory requirements. By equipping our workforce with essential safety knowledge and best practices, we safeguard employee well-being while enhancing operational reliability and excellence.

Our training programs cover critical areas like:

• Hazard Identification and Risk Assessment
• Safe work practices
• Machinery and equipment safety
• Chemical handling and safety
• Emergency preparedness
• Health & Wellness

Our initiatives have yielded measurable benefits across the organisation:

• Enhanced Productivity: The emphasis on a safe and secure work environment has strengthened employee confidence and engagement, resulting in improved focus and higher operational efficiency.
• Effective Regulatory Compliance: Sustained adherence to applicable health and safety standards has minimised regulatory risks and supported uninterrupted business operations.
• Optimised Cost Efficiency: Strategic investments in preventive safety measures have led to a reduction in costs associated with workplace incidents, insurance claims, and equipment-related losses.