Singer Store

Company Profile

In the year 1851, Sir Isaac Merritt Singer established “Singer Sewing Machine Company” in USA to manufacture and sell sewing machines.

The “SINGER” Trademark is one of the most widely recognized and established brands in the World. Since 1871 the name SINGER has been synonymous with sewing in India. The Company celebrated many firsts, including the world’s first Zig-Zag machine, the Fashion Maker.

In the year 1977 by incorporation of “Indian Sewing Machine Company Limited” at Bombay the entire business of Indian Branch of Singer Sewing Machine Company, USA was taken over by this new Company. The Company later changed its name to “Singer India Limited” and established Headquarter at Delhi.

Singer India Limited (SIL) is one of the operating subsidiaries of Singer Asia Limited, with other operating subsidiaries in Bangladesh and Sri Lanka engaged in the retail of a wide variety of household consumer durables (HCDs) with consumer credit and other financial services available to eligible customers. In each of these markets, Singer Asia Limited is the leading retailer of HCDs. They also operate direct selling business on a large scale in Thailand.

SIL is one of the leading marketers of sewing machines & small home appliances. SIL has manufacturing facilities for sewing machines at Jammu in the State of Jammu & Kashmir. SIL has two business segments, sewing products and home appliances like Food processor, Mixer Grinder, Dry Iron, Steam Iron, Sandwich maker Toaster, Hand Blender, etc. Recently the Company added range of Room Cooler and Water Heater in its product portfolio.

SIL is an ISO 9001:2008 certified Company.

The Company’s products are marketed under the Brand “SINGER” & “MERRITT”. The Company has presence across India through its Showrooms, Shops and Dealers/Distributors and after sales service network. The Company also exports sewing machines.

Owing to our strong presence in India for over 140 years, our customers experience pride in our Brand and products which continue to touch many lives every day.

The Company believes in constant innovation and growth and in the policy to conduct business with responsibility, integrity, fairness, transparency and honesty and to be a responsible corporate citizen committed to serve the community around its area of operations. The Company does not seek competitive advantage through illegal or unethical business practices.

The Company is committed to high standards of Corporate Governance and believes in compliance of all the Laws and Regulations in letter and spirit. The Company has endeavored in setting standards for itself which are ahead of time and higher than those stipulated by the Law.

The Company is committed to provide accurate and complete information as required in time to all concerned including stakeholders.

The Company shall maintain high standards of pollution control, environment protection and safety.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company has always recognized the need to serve the Society.

The Company has a CSR Committee for supervision and monitoring of the CSR spend in accordance with the Policy.

WHISTLEBLOWER POLICY

A whistleblower is a person who exposes misconduct, any act of dishonesty or illegal activity in an organization. Singer India and its parent organization, Singer Asia, always believe in transparency in our working environment.

This policy is intended to assist persons who believe they have discovered malpractices or impropriety.

MANAGEMENT

The Company is managed by a dedicated team of highly qualified professionals having expertise in distinct business sphere.

MISSION

VISION

Code of Conduct

I. Introduction

The Company’s policy is to conduct its business with responsibility, integrity, fairness, transparency, & honesty and to be a responsible corporate citizen.

This code of conduct sets out a broad policy for one’s conduct in dealing with the Company, its customers, suppliers, directors, employees, shareholders and all other stakeholders including the external environment in which the Company operates.

No Director or any employee shall be involved in any activity that would have any adverse impact on the Company. Our ambition is to be a leader in our industry and to operate and achieve excellence in everything we do, including our standard of business conduct. The corporate objectives to be pursued shall be to sustain competitive edge of the Company.

Application of this Code

This Code of Conduct applies to all the Directors and employees of the Company. Where the Company is a major or strategic shareholder in another company, that company and any joint venture partner or other shareholder(s) should also be made aware of this Code and encouraged to comply with it.

We aim to choose as business partners, people with standards and ethical values compatible with our own. If we find ourselves in a business relationship with anyone (e.g. distributor, dealer, agent, joint venture partner, supplier, etc.), where it is clear that there is a serious incompatibility, which cannot be resolved, we will seek to terminate that relationship.

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II. Respect for Individuals

  • The Company’s vision is based on inspiring and unleashing creative potential in the human assets of the Company. This is possible in an environment where we all respect the rights of those around us.
  • To treat individuals in all aspects of employment, solely on the basis of ability irrespective of race, caste, creed, religion, age, disability, gender, sexual orientation or martial status.
  • No employee may harass, intimidate, or act in an unwelcome, hostile, offensive, degrading or abusive manner with any other employee, or with any customer or supplier, or the employee of any customer or supplier.
  • Not to tolerate racial, sexual or any other kind of harassment.
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III.Honest and Ethical Conduct

The Directors and employees of the Company should act in accordance with the highest standards of personal and professional integrity, honesty and ethical conduct. Honest conduct means a conduct that is free from any fraud and deception. Ethical conduct is the conduct conforming to the accepted professional standards of conduct and shall include ethical handling or actual or apparent conflicts of interest between personal and professional relationship.

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IV.Employees Responsibility

It is the obligation of every employee to promptly report all known or suspected violations of the Company’s Code of Business Conduct to the Chief Executive Officer, or to the Manager of Internal Audit or to the Company Secretary who are acting there as the supervisors of the Company. It makes no difference whether the possible violation was intended to benefit an individual or is a misguided attempt to benefit the Company in either of the cases the possible violation must be reported. Any employee who fails to report a possible violation is himself in violation of the Code of Business Conduct. No person reporting a possible violation will be intimidated or retaliated because of his having made a good faith report. Violations of the Code of Business conduct will be treated seriously and may subject the employee or employees involved to dismissal and, as appropriate, to civil or criminal prosecution.

As any code or written document cannot cover all possible contingencies, every employee should also use his or her good judgment. In the event of any uncertainty or doubt as to whether the Code of Business Conduct applies to a particular situation, or whether specific circumstances constitute an actual or potential violation of the Code, employee should consult the Chief Executive Officer, or the Manager of Internal Audit or the Company Secretary who are acting there as the supervisors of the Company.

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V.Conflict of Interest

The Directors and employees of the Company shall not engage in any activity or enter into any pecuniary relationship, which might result in conflict of interest, either directly or indirectly.

A “conflict of Interest” occurs when an individual’s private interest interferes or appears to interfere with the interest of the Company. The Directors and employees must act at all times in the Company’s best interest and avoid putting themselves in a position where their personal interest conflicts or appears to conflict with the interest of the Company. The personal interest will include those of their relatives. Any Director or employee, who is aware of a conflict of interest or is concerned that a conflict might develop, is required to disclose the matter promptly to the Board of Directors in the case of a Director and to the Chief Executive Officer in the case of employees.

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VI.Misuse of Opportunities and Information

The Directors and employees owe a duty to the Company to advance the Company’s business interest when appropriate. Directors and employees are prohibited from taking (or directing to a third party) a business opportunity (relevant to the line of business intended to be pursued by the Company) that is discovered through the use of corporate property, information or position, unless the Company had already been offered that opportunity and was turned down. The Directors and employees are prohibited from using corporate property, information or position for personal gain and from competing with the Company. Wherever it is difficult to differentiate between personal and Company benefits or there are both personal and Company benefits in certain activities, the only prudent course of conduct for the Directors and employees is to make sure that any use of Company’s property or services or such transaction that is not only solely for the benefit of the Company has prior approval of the competent authority.

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VII.Confidential Information

During the course of employment or dealing with the Company, any information of confidential nature (whether about the Company, other companies or individuals) that is known to the Directors or employees shall be treated as confidential unless publicly available. Such information should be used only for the purpose of the business of the Company. The obligation continues for three years even after leaving the Company.

The Company also respects the rights of others regarding their confidential information. Where information is received from third parties under conditions of confidentiality, the Directors and employees shall comply with those conditions. Also, no one should solicit confidential information from third parties without prior authorization.

The use of Company information for personal gain is strictly prohibited. In particular, the Directors and employees or members of their families should not trade in the Company’s Securities when in possession of unpublished price sensitive information.

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VIII.Fair Dealing

The Company does not seek competitive advantages through illegal or unethical business practices. Each Director and employee should endeavour to deal fairly with the Company’s customers, service providers, suppliers, competitors and other employees. No Director or employee should take advantage of anyone through manipulation, concealment, abuse of privileged information, misinterpretation of material facts, or any other unfair dealing or practice. The Directors and employees shall immediately bring to the notice of the Board any unethical behavior, actual or suspected fraud.

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IX.Gifts and Entertainment

Though business gifts and entertainment are customary in many parts of the world, they need to be viewed with caution. The Directors and employees may accept and offer nominal gifts, which are customarily given and are of commemorative nature of special events. Except for the above, the Directors and employees shall neither receive nor offer to make directly/indirectly any illegal payments, gifts or any benefits, which are intended to obtain unethical favour.

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X.Wealth Creation

The Directors and employees shall be committed to enhance the shareholders’ worth/value and shall strictly comply with all regulations and laws that govern shareholders’ rights. The Board shall duly and fairly inform the shareholders all relevant aspects about the Company’s business and disclose such information as may be required, from time to time, in accordance with the applicable rules and regulations.

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XI.Corporate Social Responsibility

The Company is committed to serve the community around its area of operations. The Company believes that no organisation can survive in isolation and it has a responsibility towards public at large. The Company aims to reach out to the neighbouring villages, conserve the environment and nurture young people. The Company shall continuously take requisite community development initiatives around the areas of its operations.

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XII.Safety, Health and Environment

The Company’s vision envisages no compromise in its commitment to safety, health and responsible care for the environment. Health and safety of the people in and around its areas of operations are of paramount importance to the Company.

The Company is committed to environment protection, pollution control and maintenance of ecological balance. The Company shall maintain high standards of pollution control, environment protection and safety.

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XIII.Regulatory Compliance and Corporate Governance

The Company is committed to high standards of Corporate Governance and believes in compliance of all the laws and regulations both in letter and spirit. The Company has endeavoured in setting standards for itself, which are ahead of time and higher than those stipulated by the law. The Company is committed to provide accurate and complete information as required in time to all concerned including its stakeholders.

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