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Our

Vision & Mission

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Vision

  • The vision of this organization has always been to help all the classes of the society in building their nests and form a dynamic and stable entity.
  • Perform its duties honestly, with due integrity within the framework guided by its articles of the association, employee regulations, and the constitution

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Mission

  • To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
  • Operate independently under the guidance and supervision of its board of directors.

Core Values

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Entrepreneurship

A core tenet for a first-generation entrepreneurial company. We believe in providing people opportunities to do all that they can and be what they want to be.
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Customer Focus

We are always customer-focused and will deliver whatever the customer needs in terms of value, quality, and satisfaction.  Relationships are at the heart of our business. We strive to be essential to our customers by delivering exceptional products, services, and experience every day – and promise to have their backs in everything we do.
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Teamwork

We value “the power of many” and look to harness collective synergies through collaboration and teamwork.
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Building collaborative partnership

Forging strategic partnerships with eminent brands and companies from across the nation.
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Excellence

We do what is right, do it well, and win. We will strive for excellence in whatever we do. Customers choose us because they trust our brand and people. We earn that trust by ensuring everything we do is reliable, consistent, and with the highest level of integrity.
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Innovation

We will relentlessly pursue newer and better processes, products, and services. We see the diversity of people and experiences as fuel for creativity and innovation and deliver our best.
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Respect for People

We trust and respect one another for who we are and what we contribute. We are accountable to one another and empower every voice through open, courageous dialogue so that others feel heard.

Corporate Strategies

Shikhar Organization is a professionally run corporation with a board of directors dedicated to generating long-term value for the nation and its shareholders. It has a strong corporate culture centered on its core values of human dignity and empowerment. Its corporate governance practices and structures support its ideology of all-around value development.

SHIKHAR ORGANIZATION’S CORPORATE STRATEGIES ARE:

  • Build a portfolio of world-class companies that best combines organizational capability with opportunities in domestic and export markets to create multiple growth drivers.
    Continue to concentrate on the FMCG, Machineries, Agri-Business, and Information Technology portfolios.
  • Assess each company’s overall health using the metrics of market position, profitability, and internal vitality.
    Ensure that each of its companies is of world-class quality and competitive on a global scale.
    Enhance the portfolio’s competitiveness by exploiting synergies created by integrating Shikhar’s various businesses’ diverse skills and capabilities.
  • Develop skilled and committed top management teams for each of the companies to build dispersed leadership within the company.
    To catalyze management’s creative energies, continuously improve and optimize Corporate Governance processes and structures by striking the golden balance between executive independence and the need for efficient oversight and accountability.

Corporate Governanace

Preamble

Over the years, Shikhar Organization has evolved from a single-product corporation to a multi-business conglomerate. The company’s diverse businesses include fast-moving consumer products, vehicles, pumps, and agribusiness. The Company’s investments in its various businesses are structured through in-house branches, subsidiaries, joint ventures, affiliate companies, and trade investments.

Since its inception, this governance policy has not only stood the test of time but has also aided the Shikhar Organization’s rapid growth. Shikhar Organization has not only broadened its diversity by launching many new businesses in its chosen strategic arena, but it has also responded to the growth challenge by creating new internal structures such as shared services and business verticals, designing broad-band roles such as Chief Operating Officers of Business / Vertical, and enabling operating decision making.

Definition and Purpose

Corporate governance is a structured mechanism by which organizations are regulated and overseen in order to increase their wealth-generating capability, according to Shikhar Organization. Since large companies consume so many social capitals, Shikhar Organization believes that the governance process should ensure that these businesses are run in a way that meets stakeholders’ desires and public standards.

Core Principles

Shikhar’s Corporate Governance initiative is built on two fundamental concepts. There are the following:

  • Management must have the executive freedom to move the company forward without unnecessary constraints, and this freedom must be exercised through an appropriate accountability system.
  • Shikhar believes that any meaningful corporate governance policy must empower the company’s executive management while also establishing a system of checks and balances to ensure that the executive management’s decision-making powers are not only not misused, but also used with care and responsibility to meet stakeholder expectations and societal expectations.

Cornerstones

The above concept and core principles of corporate governance, namely trusteeship, openness, empowerment and accountability, control, and ethical corporate citizenship, are the cornerstones of Shikhar’s governance philosophy. Shikhar believes that putting each of these into practice contributes to the development of the right corporate culture, in which the business is run in a way that achieves Corporate Governance’s goals.

Trusteeship

Shikhar Organization argues that large businesses such as their own serve a social as well as an economic function. They serve a group of stakeholders, including shareholders, other capital providers, business partners, and employees. As a result, the Company’s Board of Directors bears the burden of trusteeship. They will serve as stewards to protect and maximize shareholder value, as well as to ensure that the Company meets its other stakeholders’ obligations and responsibilities. The obligation to ensure equity, i.e., that the interests of all shareholders, large and small, are secured, is inherent in the principle of trusteeship.

Transparency

Transparency, according to Shikhar Organization, entails explaining the Company’s strategies and decisions to those for whom it has obligations. As a result, accountability must lead to the most effective disclosures possible without jeopardizing the Company’s strategic goals. Internally, accountability refers to the Company’s openness towards its staff as well as the ability to do business in a transparent manner. Transparency, according to Shikhar, improves accountability.

Empowerment and Accountability

Shikhar’s first central concept of governance, that management must have the right to propel the company forward, necessitates empowerment. Empowerment, according to Shikhar Organization, is a method of realizing the capacity of its workers. By genuinely vesting decision-making powers at the most appropriate levels of the organizational hierarchy, empowerment unleashes ingenuity and innovation in the organization.

The Board of Directors, according to Shikhar Organization, is responsible to the owners, while management is responsible to the Board of Directors. The Company claims that combining empowerment with transparency boosts success and increases efficiency.

Control

Control, according to Shikhar Organization, is an essential corollary of its second core principle of governance, which states that management independence should be exercised within a system of adequate checks and balances. Control can avoid abuse of power, make it easier for management to respond to change in a timely manner, and ensure that business challenges are identified and handled before they become a problem.

Ethical Corporate Citizenship

Shikhar Organization claims that businesses, like itself, have a duty to set an example of ethical behavior both within the organization and in their external relationships. Unethical behavior, according to the company, degrades organizational culture and reduces stakeholder value.

The Governance Structure

  • The Board of Directors is in charge of strategic oversight.
  • The Corporate Strategy Committee is in charge of strategic planning.
  • The Chief Executives / Chief Operating Officers of Divisions, SBUs, Business Verticals, and Shared Services, with the help of their respective Management / Executive Committees, are in charge of executive management.

Board Of Directors

The Board of Directors’ primary responsibility is to protect and maximize shareholder value by strategically overseeing Shikhar, its wholly-owned subsidiaries, and their wholly-owned subsidiaries. They will ensure that the Company has specific priorities in terms of shareholder value and development as trustees. They should set strategic targets and hold themselves accountable for achieving them. They will provide guidance and exercise sufficient control to ensure that the Company is run in a way that meets stakeholder and societal standards. The Board must monitor its own operations on a regular basis to ensure that it is fulfilling its mandate. The performance of individual Directors and Board Committees will also be evaluated by the Board.

The Three Tier Governance thus ensures that

Since the Board is not involved in the role of strategic management of the Company, it may perform strategic oversight (on behalf of the shareholders) with objectivity, thus sharpening management transparency. Executive management of businesses, assisted by respective Management / Executive Committee, free of collective strategic responsibilities for Shikhar Organization as a whole, remains focused on enhancing the quality, efficiency, and effectiveness of the business to a higher level.

Code of Conduct

Preamble

The Code of Conduct for the Shikhar Organization is based on three interconnected universal principles: good corporate governance, good corporate citizenship, and exemplary personal conduct.

Philosophy

Shikhar Organization is a professionally run organization, and “trusteeship” is the fundamental concept that underpins our corporate philosophy. We assume that the various stakeholders have “entrusted” this organization to us and that we, as professionals, are the “trustees” of these stakeholders. As a result, it is our duty to ensure that the organization is run in a way that protects and advances our stakeholders’ interests. We recognize that society is an important stakeholder in this business, and that good corporate citizenship is part of our duty.

e also believe that in order to represent our stakeholders’ interests, in the long run, we must transform Shikhar into an organization whose dynamism and vitality are rooted in its core values.

Good Corporate Citizenship

The practice of good corporate citizenship is a pre-requisite in the conduct of the Company’s business and includes the following:

Managing Employees in the Organization

Directors, senior management, and staff must maintain the principles that are at the heart of our HR Philosophy: trust, cooperation, mutuality, and partnership, meritocracy, objectivity, self-respect, and human dignity in their interactions with one another. Indeed, our HR management frameworks and processes are built on these principles. Although meritocracy will be a primary criterion in selection and recruitment, managers will carefully evaluate all factors that contribute to the Company’s security. In all people processes, including performance management systems, appraisals, remuneration, and incentives, Shikhar will emphasize meritocracy, fairness, and upholding Company values.

A Workplace That Is Gender Equal

Shikhar is committed to creating a gender-balanced environment because it is a responsible corporate citizen. It aims to improve equal opportunities for men and women in the workplace, discourage/avoid/redress sexual harassment, and implement good working practices.

Unwelcome sexually determined behavior involves unwelcome physical contact, demand or order for sexual favors, sexually colored comments, displaying pornography, and any other unwelcome sexually determined physical, verbal, or nonverbal actions.
Shikhar keeps an open door policy for whistleblowers, encourages workers to report any abuse issues, and responds to employee grievances regarding harassment and other inappropriate and offensive conduct. A committee has been formed to investigate complaints and, where necessary, recommend corrective action. Shikhar expects, shows, and encourages professional conduct and respect for all employees.

Suppliers and Customer Relationships

Both executives, senior managers, and staff must ensure that the Company’s interests are never jeopardized in their relations with suppliers and customers. Accepting gifts and presents of more than a nominal amount, as well as gratuities and other fees from vendors or consumers, would be considered a severe violation of discipline, as it can jeopardize the Company’s interests.

Legal Requirements

The Company’s strategy is to follow all relevant laws and regulations to the letter. The Chief Executives of the Businesses and the Divisional Management Committees are responsible for ensuring legal and regulatory enforcement. The Company will not tolerate activities that are illegal or could damage its image. Divisional Management Committees must ensure that they have in place sound and appropriate arrangements to ensure that they comply with the legal and regulatory requirements that affect each sector, as well as to recognize and respond to changes in the regulatory environment in which they work. If the meaning of a statute is unclear, the Company’s Legal Department will be contacted for assistance.

Safety & Health

A healthy and secure working atmosphere is extremely important to the company. Shikhar Organization is dedicated to providing safe and healthy working environments, as well as encouraging high hygiene and housekeeping standards. Employee safety preparation and the implementation of safe working procedures, specifically designed to avoid serious or fatal injuries, should be prioritized.

Policies Concerning the Environment

Sustainable development is a critical component of responsible corporate citizenship, according to the Company, and it needs to be given top priority. As a result, the Company is dedicated to Best Practices in environmental matters resulting from its business operations, and each business is expected to fully demonstrate this dedication.

Businesses must define policies for evaluating the environmental impact of their current and potential operations in addition to complying with relevant laws and regulations. Best Practices should be incorporated into their environmental policies and procedures.

Personal Conduct

Both directors, senior management, and employees have a responsibility to behave in the best interests of the company at all times and to conduct themselves in an honest and ethical manner. They are required to exhibit exemplary personal behavior by adhering to the following guidelines:

Conflict of Interest Avoidance

Both executives, senior managers, and staff must avoid circumstances where their personal interests may be at odds with the company’s. While it is difficult to provide detailed guidance in this field, the guiding principle is that any actual or potential dispute must be reported to higher management for guidance and, if necessary, intervention.

Transparency and auditability are two words that come to mind when discussing transparency and auditability.

Except where the needs of business security dictate otherwise, all directors, senior management, and employees must ensure that their activities in the conduct of business are completely clear. Transparency can be achieved by effective procedures, structures, and processes, such as division of responsibilities, tiered approval mechanisms, and the participation of more than one manager in key decisions, as well as the keeping of supporting records. It would be appropriate to voluntarily ensure that all areas of activity are auditable and that all operations are fully auditable.

Confidential Information Security

Any confidential information obtained in the course of employment/association with the Company by any director, senior management, or employee shall not be disclosed or used for personal gain or the benefit of any other individual. Except as permitted by authorized policies, no details shall be given to the newspapers, other publicity media, or any other external entity, whether formally or informally.

Infrastructure of the Company

There shall be no abuse of Company facilities by any manager, senior management, or employee. When using Company services, care must be taken to ensure that prices are fair and that no waste occurs.

Exercising Leadership

The Company’s professional tone is set by the organization’s directors and senior management. The organization’s leadership communicates acceptable and inappropriate behavior through their words and acts. Shikhar Organization’s executives, senior management, and employees must consistently demonstrate by their acts and behavior that the company’s specified values in responsible corporate citizenship are based on personal conviction and honesty.

Waiver

Any waiver of any clause of this Code of Conduct for a director, senior management, or employee must be presented to the Company’s Board of Directors / Corporate Management Committee for approval, as applicable.

Non-compliance

Non-compliance with the Company’s provisions relating to dealing in its securities by employees and their immediate relatives, as mentioned above, should be brought to the attention of the Company’s Corporate Management Committee and Board of Directors. Any other violations of the Code of Conduct should be brought to the immediate reporting authority’s notice, with copies sent to the appropriate Divisional Chief Executive / Head of Corporate Department and the Head of Corporate Human Resources. Any such instance involving senior management should be brought to the Chairman of the Audit Committee’s attention, with a copy to the Company Chairman.

Corporate Governance Policy

Shikhar Organization is a professionally run organization, and “trusteeship” is the fundamental concept that underpins our corporate philosophy. We assume that the various stakeholders have “entrusted” this organization to us and that we, as professionals, are the “trustees” of these stakeholders. As a result, it is our duty to ensure that the organization is run in a way that protects and advances our stakeholders’ interests. We recognize that society is an important stakeholder in this business, and that good corporate citizenship is part of our duty.

We also believe that in order to represent our stakeholders’ interests, in the long run, we must transform Shikhar into an organization whose dynamism and vitality are rooted in its core values.

Whistle Blower Policy

1. Philosophical considerations

Any employee and Chairman of Shikhar Organization (‘the Company’) believe that he or she is a trustee of the Company’s stakeholders and must conduct himself or herself in a competent, responsible, and ethical manner at all times.

2. Goals and Objectives

This Policy (‘the Policy’) encourages the Company’s Directors and employees to promptly report instances of illegal or unethical conduct, actual or suspected fraud, actions that jeopardize the Company’s financial integrity, or actual or suspected leaks of unpublished price sensitive information (‘UPSI’) that could have a negative impact on the Company. The Company will conduct an independent investigation into all such identified incidents and take effective steps to ensure that the required standards of professional and ethical conduct are always met.

3. The goal

The Company strives to:

  • Ensure that no complainant is victimized or threatened for bringing such incidents to the attention of the Company; Investigate such recorded incidents in a reasonable manner;
  • Take effective disciplinary action against the delinquent employee(s);
  • Ensure that no complainant is victimized or harassed for bringing such incidents to the attention of the Company.

The Audit Committee will oversee the implementation of this policy.

4. Mechanism for Reporting

Complainants are encouraged to bring to the Company’s attention events involving, for example, illegal or immoral behavior that harms investors, shareholders, clients, suppliers, or other staff, or the Company’s business results, image, or reputation;

  • Real or alleged fraud incidents;
  • Actions that jeopardize the Company’s financial stability;
  • a potential conflict of interest with the corporation;
  • Leakage of the Company’s confidential or proprietary information; and
  • Actual or alleged leaks of UPSI information relating to the company.

5. Complaints must be made honestly.

  • A plaintiff must behave in good faith and have fair reasons to believe that his or her case is an event that falls within the scope of this Policy.
  • This Policy should not be used to make misleading or defamatory accusations.
  • Any person found making a baseless, careless, malicious, or intentionally false claim will face disciplinary action, which may include termination of employment.