Ipca Laboratories Limited

About

• Industry: Pharmaceutical Manufacturing
• Company: Public (NSE: IPCALAB)
• Number of Employees: 17,335
• Headquarter: Mumbai, India
• Global Presence: 120+ Countries
• ESG Needs: BRSR, GRI, EcoVadis, GHG (Scope 1, 2, 3), Materiality Assessment

Company Overview

Ipca Laboratories Limited is a leading Indian multinational pharmaceutical company headquartered in Mumbai. With a portfolio of over 350 formulations and 80 Active Pharmaceutical Ingredients (APIs), Ipca Lab serves global markets across 120+ countries, supplying high-quality pharmaceutical products and intermediates.

Operating manufacturing units across 15 locations, Ipca Lab is committed to quality, regulatory compliance, and sustainability. The company continues to drive innovation and excellence in both domestic and international markets, reinforcing its position as a leader in sustainability within the pharmaceutical industry.

Project Overview

To meet evolving sustainability and regulatory requirements, Ipca Laboratories successfully published its inaugural Business Responsibility and Sustainability Report (BRSR) for FY 2022-23 with the support of Oren. This milestone reinforces the company’s dedication to corporate transparency and responsible business practices.

Additionally, Ipca Lab developed a sustainability report aligned with Global Reporting Initiative (GRI) standards and participated in the EcoVadis assessment for the first time, further strengthening its ESG credentials and global recognition. These initiatives underscore Ipca Lab’s commitment to environmental, social, and governance (ESG) excellence, ensuring accountability and long-term sustainability across its operations.

Key Challenges

• Inconsistent Data Collection: The absence of standardised data templates across multiple locations led to inconsistencies in ESG reporting, making data aggregation and analysis a complex and time-consuming process.
• Stakeholder Coordination and Engagement: Managing relationships with diverse stakeholders—including internal teams, suppliers, investors, and regulatory bodies—posed challenges in aligning ESG initiatives with business priorities and industry best practices.
• Materiality Assessment: Ipca Laboratories needed a structured approach to identify and prioritise material sustainability topics, ensuring alignment with industry benchmarks and stakeholder expectations within the Indian API and formulation sectors.
• Environmental Impact Assessment: Measuring and analysing key environmental factors—such as energy consumption, emissions, water usage, waste management, and biodiversity impact—required a more robust and data-driven framework to drive meaningful sustainability improvements.

Oren’s Solutions

Oren collaborated with Ipca Labs to address key ESG challenges through a structured, data-driven approach:

• Materiality Assessment & Stakeholder Engagement: Oren conducted a comprehensive materiality assessment for Ipca Laboratories, identifying critical ESG topics specific to the pharmaceutical sector. By engaging internal teams and external stakeholders, Oren ensured alignment with global sustainability standards and industry best practices.
• Defining Organisational Boundaries and Asset Mapping: To enhance ESG and GHG data accuracy, Oren assisted Ipca Laboratories by clearly defining reporting boundaries, mapping facilities, and streamlining data collection processes across multiple departments and operational sites. This included 17 plants and 5 offices in India, as well as 2 plants and 5 offices abroad.
• Centralised ESG & GHG Data Management: Leveraging its SaaS-based platform, Oren Sustainability Hub, Oren implemented a centralised ESG & GHG data management system. This enabled Ipca Lab to efficiently collect, process, and analyse sustainability data across multiple locations, improving reporting accuracy and compliance readiness.

Achieved Outcomes 

FY 2022-23

• Successful Completion of BRSR: Oren supported Ipca Laboratories in developing and publishing its inaugural BRSR report for FY 2022-23 in full compliance with SEBI’s regulatory requirements. This milestone enhanced Ipca Lab’s corporate transparency and positioned it as a leader in responsible business practices.
• Ongoing Partnership with Oren: Ipca Laboratories continues to collaborate with Oren, leveraging the Oren Sustainability Hub and expert support to streamline its annual BRSR reporting and ESG strategy.

FY 2023-24

• Sustainability Report: Oren successfully developed and designed Ipca Laboratories's Sustainability Report, aligned with Global Reporting Initiative (GRI) standards, ensuring standardised ESG disclosures and enhanced stakeholder transparency.
• EcoVadis Rating: Oren guided Ipca Lab through its first EcoVadis assessment, securing a “Committed” rating. This recognition highlights Ipca Lab’s dedication to responsible business practices and benchmarks its ESG performance against global industry standards.

Future Plans for Supply Chain Sustainability

Oren will support Ipca Laboratories in developing and implementing a customised supply chain sustainability program, ensuring alignment with global ESG standards and industry best practices.

1. Identifying Material ESG Topics: Oren will assess and prioritise key ESG factors relevant to Ipca Lab’s operations, customers, and industry requirements, ensuring a focused and strategic approach to supply chain sustainability.
2. Prioritising Critical Suppliers: By analysing financial spend, emissions impact, and operational significance, Oren will help Ipca Lab identify high-priority suppliers that play a crucial role in its value chain.
3. Supplier Training & ESG Assessments: Oren will conduct targeted training sessions to align suppliers with Ipca Lab’s ESG goals. A comprehensive assessment framework will be developed to evaluate suppliers across all key ESG parameters.
4. Supplier Engagement & Data Collection: Oren will engage Ipca Lab’s prioritised suppliers, collecting ESG-related data through structured assessments, ensuring transparency and accountability across the supply chain.
5. Evaluation & ESG Maturity Categorisation: Based on assessment results, Oren will categorise suppliers into three performance tiers:
   
   • Red (Low-performing): Requires significant ESG improvements
   • Amber (Average-performing): Meets basic ESG standards
   • Green (High-performing): Demonstrates strong sustainability leadership
6. Enhancing Supplier Performance: Oren will work closely with low-performing suppliers, providing targeted training, supporting policy enhancements, and facilitating financial aid for the adoption of renewable energy and advanced sustainable technologies.

Through these strategic interventions, Oren will enable Ipca Laboratories to build a more sustainable and resilient supply chain, ensuring long-term ESG compliance and competitive advantage.