Company Profile: Mahindra Sanyo Special Steel Private LimitedWe Mean Business coalition
Mahindra Sanyo Special Steel Private Limited (MSSSPL) is a subsidiary of Sanyo Special Steel Co.Ltd. The company is an Indian alloy and special steel manufacturer. It is a joint venture between Mahindra & Mahindra Limited, Sanyo Special Steel Co., Ltd and Mitsui & Co., Ltd. MSSSPL has been supplying steel to many multinational and domestic customers as well as to the Indian government for more than 50 years. The company is headquartered in Khopoli, Maharashtra, 90 km from Mumbai.
- The Mahindra Group, of which MSSSPL is a part, is committed to being carbon neutral by 2040.
- MSSSPL was the first company in the Mahindra Group and the first metals company in the world to have its science-based emission reduction targets approved by the Science Based Targets initiative. Through its science-based target, the company is committed to reducing emissions in its direct operations (Scope 1), its energy use (Scope 2) and its value chain (Scope 3) by 35% per ton of steel by 2030, compared to 2016.
- MSSSPL has committed to improving its energy efficiency in electricity use by 20% by 2022 and by 37% for furnace oil, compared to 2013 levels.
- By 2022, MSSSPL has committed to reducing its Scope 1 emissions by 41% and its Scope 2 emissions by 47% by 2022, compared to 2013.
- MSSSPL has committed to sourcing 29% of its energy through renewable sources and waste heat recovery by 2022, compared to 2013.
- By 2018 MSSSPL had reduced its Scope 1 emissions by 26% and its Scope 2 emissions by 14%, compared to 2013, and achieved a 2% reduction in specific emissions per ton of production.
- As of 2018, MSSSPL had improved its energy efficiency in electricity by 13% and in furnace oil by 24%, compared to 2013.
- Nearly 5% of MSSSPL’s power was from renewable energy sources in 2018.
- The company is committed to investing in a 1500KW solar rooftop power plant and a 7.5MW wind power plant.
Cost savings through decarbonization
- The company registered 14% growth in sales volume and 17% growth in revenue in 2018, alongside a reduction in electricity consumption of 2% and a reduction in Scope 2 emissions of 1%, compared to 2017.
- MSSSPL is working to switch fuel from furnace oil to natural gas in all furnaces by 2020, which will result in 10% fuel cost savings.
- Through energy savings over the last five years, MSSSPL saved INR 1,470 million ($21million).
- From 2016-2018, MSSSPL reduced its water consumption by 27% per ton of production and reduced freshwater intake by 37% by 2018, compared to 2013.
- MSSSPL planted more than 60,000 saplings in 2018.
- In 2018, rainwater harvesting by the company saved 40,917 M3 of water.
- MSSSPL is an advisory board member of ResponsibleSteel to develop standards for the entire steel value chain.
- The Mahindra Group’s #CelebrateDifferently campaign, launched on World Environment Day, calls on citizens to take action against climate change.
- Mahindra Group CSO, Anirban Ghosh, sits on the Expert Committee on Carbon Revenues, led by a World Bank-enabled group called I4CE (Institute for Climate Economics).
- MSSSPL is a founder-member of ‘India GHG Programme’ of World Resources Institute India, CII & TERI.
- Mahindra Group Chairman Anand Mahindra added his voice to the UN Global Compact, urging businesses to set more ambitious climate targets in the lead-up to the UN Secretary-General’s Climate Action Summit, September 2019.