Governance

Our governance philosophy rests on the pillars of fairness, transparency, professionalism and accountability, which are also embedded in our business strategies. Corporate governance practices at JB Pharma reflect the Company’s value system encompassing its policies, culture, and relationships. The six established principles work in tandem with values of mutual trust and respect to achieve high standards of ethical, efficacious and meaningful engagement with our diverse stakeholders.

At JB Pharma, we have implemented a myriad of policies, including the Code of Conduct, which guides behaviour of all our employees and Board members. At the forefront of cascading ethical business environment, we ensure timely and transparent formulation and disclosure of all our policies.

  • Business Responsibility Policy
  • Code of Conduct
  • Corporate Social Responsibility Policy
  • Environment Health and Safety Policy
  • Human Rights Statement
  • Risk Management Policy
  • Whistle Blower Policy
  • Supplier Code of Conduct
  • Complaint Response Plan Policy
  • Anti-Bribery and Anti-Corruption Policy
  • Board Diversity Policy
  • Policy on Sexual Harassment
  • Conflict of Interest Policy
  • Dividend Distribution Policy
  • Tax Policy 
  • Information Security Policy
  • Policy On Directors’ Appointment and Remuneration
  • Policy on dealing with related party transactions
  • Policy for determining material subsidiary
  • Details of familiarisation programme imparted to non-executive Directors
  • Web archival policy
  • Code of practices and procedures for disclosure of unpublished price sensitive information by the Company
  • Anti-trust and fair competition policy

Our Policies

Business Responsibility policy

Our Business Responsibility Policy outlines our commitment to ethical practices, environmental sustainability, and social responsibility. It helps us build a positive corporate image, gain stakeholder trust, and ensure long-term viability. We provide accurate and balanced information about our products and services to healthcare professionals, customers, and the public. Our marketing, advertising, and sales practices prioritize the dissemination of truthful and evidence-based information.

Board Diversity policy

Promoting diversity in our board enhances decision-making, innovation, and reflects our commitment to inclusivity. It fosters a broader perspective and helps attract a wider talent pool. The policy includes goals for diversity representation, recruitment processes, and measures for board composition evaluation. We aim to have optimum composition in the Board in terms of diversity of thought, experience, knowledge, perspective, gender., ethnicity, country of origin, nationality, or cultural background.

Remuneration policy with Clawback

This policy ensures fair compensation for employees, motivating and retaining talent. It helps align employee performance with organizational goals. JBCPL will be implementing a clawback provision as part of its remuneration policy, ensuring accountability, and aligning executive compensation with long-term performance and responsible corporate behaviour.

Information Security policy

This policy safeguards company and customer information, reducing the risk of data breaches and maintaining trust and compliance. It outlines data classification, access controls, encryption, incident response procedures, escalation process and employee training on security practices.

Suppliers Code of Conduct

This policy is designed to endorse conscientious sourcing, mitigate potential supply chain vulnerabilities, and endorse sustainable methodologies. The code encompasses a spectrum of vital criteria, encompassing environmental benchmarks for suppliers, procedures, products or services, the foundational human rights of suppliers, labor conditions and compensation, supplier health and safety protocols, environmental repercussions, anti-corruption measures, quality standards, and adherence to local legislation and regulations.

Vigil Mechanism

Our effective vigil mechanisms are a cornerstone of our commitment to transparency, integrity, and ethical conduct. They provide a platform for all our stakeholders, including employees, customers, partners, and suppliers, to report any concerns or instances of wrongdoing, ensuring a safe and confidential environment.

Whistle Blower Policy

Our Whistle blower Policy empowers our directors, employees, and other stakeholders to report any concerns or evidence of wrongful conduct to our redressal committee. The committee collaborates with the audit committee to further investigate and resolve the matters.

Policy on Sexual Harassment (POSH)

Our gender agnostic policy on POSH enables reporting of unethical business conduct. All relevant cases are escalated to our Internal Complaint Committee (ICC) which protects employees from any sexual harassment

Future-Proofing our Business

JB Pharma has implemented a robust risk management process guided by our risk management policy which equips us to continuously evolve and adapt for leveraging opportunities and mitigating undetected risks. Our robust risk management and compliance processes play a critical role in ensuring highest standards of governance across all operations. The Board has delegated the onus of developing an effective risk management plan and its oversight to the Risk Management Committee which ensures transparent, consistent and timely implementation of our enterprise-wide risk management system.

Risk Management Process

Identified/
Designed
Business
Objectives

Identify

Identifying relevant risks from the defined risk Universe, their causes and their potential consequences on the company’s immediate short – term and long – term business objectives.

Assess

Assess the identified risks periodically by prioritizing the risk

Report

Provide holistic and targeted views of risk to support efficient management decision making.

Monitor

Analyze risk trends, changes in risks and monitor status of risk mitigation plans.

Respond

Risks Responses strategies such as Terminate, Treat, Transfer and Tolerate can help determine and effectively address the risks based on their nature, impact and likelihood.

Identifying what matters

At JB Pharma, we understand the criticality of understanding the key Environmental, Social and Governance (ESG) issues that have the ability to impact our business strategy, activities, and capability to create as well as preserve value. In this regard, we conducted a stakeholder engagement and materiality assessment to undertake a stakeholder-inclusive approach towards identifying the key material issues. Our materiality assessment helps us understand the issues that matter most to our internal and external stakeholders.

Material Topics

EnvironmentWater managementWaste managementEnergy and emissionsmanagementClimate change impacton health
GovernanceBusiness ethics andgovernance Product stewardship Regulatory Compliance Data security andprivacy

Materiality Process

IdentifyFormulate a comprehensive list of material topics based on industry and peer review as well as ESG resources such as GRI and SASB
EngageEngage with prioritized stakeholders in order to determine focused material topics in accordance with their expectations
PrioritizePrioritize material topics in relevance to JB Pharma’s business as well as stakeholder inputs received
ValidateRefining our final reviewed material topics in consultation with JB Pharma’s senior management

As we prioritize purpose-driven leadership, our established robust governance structure ensures efficacious ESG oversight and cascading of responsible practices across the organization. Our mechanisms aim to garner accountability across functions to drive long-term growth and value-creation for internal and external stakeholders. At the apex, our CEO has the onus of fostering an ESG-centric culture by embedding sustainability into the Company’s strategy, policies, systems, and governance structures.
In order to propel the ESG agenda, the Steering Committee has been constituted which reviews, assesses and provides strategic direction. Our Working Committee further streamlines ESG integration across the organization through identifying holistic metrics, systems and frameworks for tracking ESG progress

(Oversee ESG integration in vision and mission)CEO and WholeTime Director
SteeringCommittee(Drive ESG governance andinitiatives across the company)
(Cross-functional representativesthat execute and implementinitiatives on-ground)WorkingCommittee
ReviewMechanismCEO: Quarterly review Steering Committee: Quarterly reviewWorking Committee: Monthly review