PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

46 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) In additional to the above-mentioned large volume flagship products, your Company also manufactures a number of specialty aroma chemicals – some of which are made from the side streams generated during manufacturing. Your Company believes in promoting a “Waste to Wealth” philosophy. Thus, apart from consolidating the market share in the large volume products, your Company is also working on increasing customer share by supplying other Aroma chemicals. For example, Introduction of IFF as a key customer with increased volumes specifically in the product DHMOL. Technology initiatives: Your Company continues to invest in futuristic and sustainable/ green technologies such as implementing biotechnology in order to facilitate its expansion into other industry segments. Through the implementation of biotechnology, products that are churned from this business vertical through biodegradable and renewable sources will pose a challenge to the industry which largely uses conventional technology. Your Company continues to engage in research and development in respect of technology & process improvement. This will result in improved, cleaner processes for existing as well as new products. The following initiatives were implemented in the year under review: • Green chemistry & effluent free process developed till plant scale for several products. • Continuous reaction process for the intermediate related to the production of Amber fleur. • Sustainable solutions implemented at plant scale for units 1, 2 and 3 for Zero Liquid Discharge (ZLD). • Green technology for purification of product Prionyl using resins by adsorption/desorption technique along with membrane filtration for solute concentration. • Continuous process established for the epoxidation of Terpinolene at Pilot scale for the product Terpinen-4-ol. • Enzymatic Cracking of non-edible oils developed at RND scale. Your Company is member of Carbon Disclosure Project (CDP). We not only disclose our carbon emission data but work on specific projects to lower the carbon emissions from our operational activities. Your Company has now started encouraging its suppliers to opt for sustainable development practices & also has initiated buying the forest based raw materials from FSC (Forest Stewardship Council) certified Pulp & Paper mills. Quality Your Company continues to maintain industry’s best standards in quality of its products and has received appreciation from its customers for supplying quality products, timely response to queries on regulatory and other specific requirements. All units of your company are certified under the latest ISO-9001-2015 Standard. Your company continues to be the leading supplier to top 10 Flavours & Fragrance houses in the world due to its consistent quality standards. STATUS OF YOUR COMPANY TOWARDS INTERNATIONAL CHEMICAL REGULATIONS: EU / EEA - Registration, Evaluation, Authorization and Restriction of Chemicals (REACH): Requirements: To place any product in European Economic Area in qty ≥ 1 MTPA, the product is required to be registered within REACH Regulation (EC Regulation 1907/2006). Your Company’s status: So far, your Company has registered 23 products under EU REACH Regulation, through its Sweden-based representative. This will allow your Company’s EU/EEA customers and its Netherland’s office to import the products into EU/EEA. Key Post-Registration Obligations: After the European Chemical Agency (ECHA) evaluates the Registration dossier, additional animal or product test data to be provided or corrections to made if ECHA finds any information missing or incorrect. Turkey Reach: Requirements: To place any product in Turkey in qty ≥ 1 MTPA after Calendar Year 2020, the product is required to be pre-registered under Turkey REACH Regulation (KKDIK regulation) by Dec 2020. The product is required to be registered by Dec 2023. Your Company’s Status: So far, your Company has pre-registered 24 products under KKDIK, as a result of which it has got extension of the registration deadline upto Dec 2023. This will allow your Company’s Turkish customers to import the products into Turkey without any registration until Dec 2023.