Social and environmental responsibility has always been at the forefront of Companies operating philosophy. As a responsible corporate citizen, we try to contribute for social and environmental causes on a regular basis. We believe that to succeed, an organization must maintain highest standards of corporate behaviour towards its employees, consumers and societies in which it operates. We are of the opinion that CSR underlines the objective of bringing about a difference and adding value in our stakeholders’ lives. Corporate Social Responsibility Policy is rooted in the Company’s core values of quality, reliability and trust guided by international standards and best practices, and driven by our aspiration for excellence in the overall performance of our business.
Further before implementation on CSR policy Our Company itself involve in the CSR activity since long in many core areas like, Education, Medical Aid, Woman Empowerment, Poverty Control, Environmental sustainability.
The Board of Directors of the Company formed a Corporate Social Responsibility Committee (hereinafter referred to as the (‘CSR Committee). The Committee will report to Board of Director. The CSR Committee consists of the following Directors:
Keeping in line with Section 135 of the Companies Act, 2013 and the Rules thereunder (hereinafter referred to as "the Act"), the Board of Directors of the Company shall form a Corporate Social Responsibility Committee (hereinafter referred to as the "CSR Committee") to inter alia, carry out the following functions:
The Company will carry out/ get implemented its CSR activities/projects/programs through its in-house team comprising the CSR Officer along with the assistance of CSR Committee The CSR activities we pursue will be in line with our stated Vision and Mission, focused not just around our plants and offices, but also in other geographies based on the needs of the communities, we intend to undertake Corporate Social Responsibilities (CSR) initiatives as permissible activities under Companies Act, 2013 in following areas.
The CSR projects/ activities undertaken by Company will be in the lines with Schedule VII activities and will also include terms incorporated as per amendments to the Schedule VII through subsequent notification, circulars etc. released by appropriate authority.
The Company proposes to promote education including special education and employment enhancing vocational skills, especially among children, women, elderly, and the differently abled and livelihood enhancement projects interalia contribution to NGOs who are engaged in providing special education and employment enhancing vocational skills for abled and disabled children, women and elderly persons;
The Company proposes to provide medical aid to weaker section of society by providing medicines to patients, payment of fees directly to hospitals for poor patients.
The Company also proposes to donate to Charitable Hospitals to enable them to introduce latest medical facilities for providing medical treatment to poor patients.
The Company also intends to organize Blood camps and provide blood to Red Cross Society. The Company intends to pay for medical cover comprising of various illness for a specified class in rural area.
The Company is committed to environmental stewardship program. Our Company is committed to be fully compliant with all applicable environmental regulations. The Company will do following activities
Promote practices that would help conserve natural resources, energy and reduce wastage.
In water management we believe, abundant and stable supply of clean water is the basic need of society. Water being an important resource, its conservation has become imperative. The approach would include providing support and infrastructure at each stage of water conservation, water preservation, and water re-charge and wastewater treatment.
The object is to spend on protection of customs, civilization, promote classical art and culture and improvement by mental or physical training and manifestation of human intellectual achievement.
The above object could also be achieved by organizing Plays (historical), Games, Musical concerts empowering artists playing Indian music to own and share their music globally and by showcasing diversity of music, exploration of ideas of music from history, literature, popular stories etc.
This should help the society to understand and learn the past and its development generate interest in various fields so as to protect cultural values and national heritage.
With these objects in view the Company intends to organize an annual event which could help promote, generate interests in Art, Music, Games, and Science etc. For advancement of intellectual development and thereby preserve culture.
Slum Development areas
Such other activities as Board may consider deems fit.
The Company shall implement the identified CSR Projects by the following means:
The Company has under taken to spend on its CSR activities every year, 2% of its average Net Profits during every block of three years. ‘Net Profit’ shall be calculated in the manner prescribed by the Act and the CSR Rules. Any ‘Income’ or ‘Surplus’ that may arise from its CSR activities would also be included in the CSR corpus and will not form part of business profits of the Company. The CSR activities of the Company shall not include any benefits which are exclusively for the employees of the Company or their family members
The CSR Committee of the Board has devised a “transparent monitoring mechanism” for various CSR Projects / Programs / Activities undertaken by the Company including conduct of impact studies of CSR Projects / Programs on a periodic basis, through independent third-party agencies as and when necessary. Simultaneously, it also obtains feedback from various beneficiaries of CSR Projects /Activities / Programmes undertaken by the Company to measure their benefits.
At the beginning of each financial year, the CSR Committee of the Board will prepare a list of CSR Projects/ Activities/Programmes which the Company proposes to undertake during the financial year, specifying the modalities of execution in the areas/sectors chosen with implementation schedules for approval of the Board. The current CSR Activities /Projects/Programs of the Company with their execution modalities and implementation schedules is appended below as Annexure A to this Policy. The Company may take up other activities/Projects/Programs as it may consider appropriate.
The Company shall disclose this Policy on its website and a web-link thereto shall be provided I the Annual Report of the Company.
The Company is committed to continuously reviewing and updating our policies and procedures to channelize its vision. Therefore, this policy is subject to modification. Any amendment of any provision of this policy must be approved in writing by the Company’s Board as per the recommendations of the CSR Committee and promptly disclosed on the Company’s website and in applicable regulatory filings pursuant to applicable laws and regulations, together with details about the nature of the amendment.