Our Company will leverage the skills and competencies, financial and people resources as well as the infrastructure and relationships of the Company in order to excel and maximize societal impact. This will ensure that Corporate Social Responsibility (CSR) will benefit from the business activity of the Company even as it serves the communities that interface with such business activity.
Accordingly, the CSR focus at our Company will be driven by broad themes such as upliftment of the underprivileged girl child, skill development for the underprivileged and ensuring environmental sustainability ecological balance.
Areas to Emphasize
Our Company has broadly selected following areas of focus under its CSR activities, as under:
● Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
● Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
● Ensuring environmental sustainability ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;
● Protection of national heritage, art and culture including restoration of buildings and sitesof historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
● Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
● Other Welfare areas
o Rural development project;
o Contribution to the Prime Minister’s National Relief fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Caste, Scheduled Tribes, other backward classes, minorities and women;
o Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government, and contributions to public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research(CSIR), Department of Atomic Energy (DAE), Defence Research and Development Organisation (DRDO), Department of Biotechnology (DBT), Department of Science and Technology(DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs);
Undertaking CSR Activities
Our Company will seek to identify suitable programs for implementation in line with the CSR objectives of the Company and benefit the stakeholders and the community for which those programs are intended. These works could be done through:
● Registered Trust / Registered Society
● Company established by the Company or its holding or subsidiary or associate Company under Section 8 of Company's Act.
● Collaboration with other CPSEs / Companies
● Community based organizations whether formal or informal
● Elected local bodies such as Panchayats
● Voluntary Agencies (NGOs)
● Institutes/ Academic Organizations
● Trusts, Missions
● Self-help Groups
● Government, Semi-Government and autonomous Organizations
● Standing Conference of Public Enterprises (SCOPE)
● Mahila Mandals/ Samitis
● Contracted agencies for civil works
● Professional Consultancy Organizations
The Board itself take care of CSR Activities, considering eligible amount of CSR to be spent no sperate CSR Committee is constituted. The Board shall:
● Review of CSR activities in the Company.
● Formulation of CSR Policy.
● Monitoring of implementation of CSR Policy.
● Modifications to CSR Policy as and when required.
● Appraise the CSR expenditure done during the year.
Dedicated CSR team shall be constituted from among the employees in the Company, for implementing the CSR Policy and shall work under the guidance of Board and will be mainly responsible for:
● Execution of CSR Policy.
● Identify projects and key initiatives pursuant to CSR Policy.
● Facilitating allocation of funds to the projects as identified for CSR activities.
● Monitoring CSR Projects to establish effectiveness of CSR efforts and appraise the same to the Board.
● Compilation of information & preparation of Annual Reports on CSR activities and presenting the same to the Board.
● Any other activity necessary to ensure achievement of CSR objectives.
The total budget for the CSR projects in each financial year will be decided by the Board in accordance with applicable provisions of the Act and the CSR Rules. in such proportion and in a manner that meets the objectives of the CSR Policy.
For any reason if the CSR team is not able to follow the allocation agreed on in any of the Areas to Emphasize described above, the same shall be utilized in such other Areas to Emphasize as the CSR team may recommend with the reasons therefor, and the Board may approve.
The Company will endeavour to contribute and spend at least 2% of the average net profits of the Company made during the three immediately preceding financial years or such amount from time to time in pursuance of this Policy.
Compliance, Monitoring and Reporting
The CSR Team will monitor the implementation and progress of the approved projects through appropriate mechanisms such as site visits, review meetings and progress reports etc. Mechanisms to track data and monitor projects will be established to ensure the transparency and efficiency of the implementation process. The projects will be evaluated against the milestones defined in the implementation plan of the project.
The Board, based on reports presented by the CSR Team, will annually publish report on the CSR projects as a part of the Director’s report. The report will disclose information in the format as prescribed by the Section 135 of the Companies Act 2013.
Treatment of Surplus
Any surplus generated from CSR projects undertaken by the Company will be tracked and channelized into Company’s CSR corpus. These funds will be further used in development of the CSR projects and will not be added to the normal business profits.