Adani Gas spends Rs 7.82 crores on CSR activities in 2020-21; Rs 5 Cr goes to PM CARES Fund

New Delhi, 10 January 2022: Adani Total Gas Limited has spent a total of Rs. 7.82 crores on various Corporate Social Responsibility (CSR) programs in the financial year 2020-21. The company engaged in developing City Gas Distribution (CGD) networks to supply the Piped Natural Gas (PNG) to the industrial, commercial, domestic (residential), and Compressed Natural Gas (CNG) to the transport sector has fulfilled its CSR obligation by spending more than its prescribed CSR budget of Rs 7.81 crores.

According to the annual report of Adani Gas, the company has spent Rs. 7.82 crores in the financial year 2020-21 as part of its CSR initiatives against a prescribed budget of Rs. 7.81 crores. Hence spending an excess amount spent for the financial year was Rs. 0.01 crore. The major CSR activities of the company were in the sector of education, environment, and towards PM CARES Fund.

According to the annual report of the company, its average net profit for the past three years as per Section 135(5) stood at Rs 390.47 crores. Thus, the prescribed expenditure on CSR for the year 2020-21 was calculated as Rs 7.81 crores. Mandatory CSR obligation of a company is calculated as 2 percent of its average net profit of the past three years.

CSR Expenditure Summary of Adani Total Gas Limited for FY21

Adani Total Gas contributed Rs. 7.82 crores towards CSR initiatives in 2020-21, which was used for implementing various interventions as follows:

“Sustainability is anchored in our Company’s vision, strategy, and business models. We constituted a CSR Committee (CSR) at the board level to oversee our positions and practices on sustainability issues, principally in relation with social and environmental matters that affect shareholders and key stakeholders,” states the company’s annual report.

Composition of CSR Committee at Adani Total Gas Limited

The CSR committee of Adani Total Gas is headed by Maheswar Sahu who is its Chairman. Other key members are Chandra Iyengar, Pranav V. Adani, Jose-Ignacio Sanz Saiz, and Alexis Thelemaque.

Major CSR Areas of Adani Gas

Adani Gas carried out its CSR activities mainly through Adani Foundation. The company has identified primary education, community health, sustainable livelihood development, and rural infrastructure development as the core sectors for CSR activities.

According to company’s annual report,  Adani Foundation’s reach covers 3.67 Million people in 2,410 villages across 18 states in India through various initiatives for:

• Promoting quality education through cost-free and subsidised schooling as well as educational programs that bridge the gaps in existing government primary schools. Its resolution to make quality education available and affordable to as many children as possible has taken the form of several cost-free schools as well as subsidised schools across India. As social distancing norms became the new reality, technology-driven solutions came to the rescue to facilitate learning before in-person learning became safe again.
• Equipping the youth and women with income-generating skills, making them employable and self-reliant
• Supporting supplementary and sustainable livelihood opportunities for the formation and functioning of self-help groups (SHGs), upgrading existing agricultural practices, and enhancing animal husbandry practices
• Enabling access to healthcare through hospitals, rural clinics, mobile healthcare units, health cards, and medical camps
• Facilitating infrastructure development in rural areas, responding to the grassroots’ requirements for small-scale basic structures, technical facilities, and systems at the community level that are critical for the sustenance of lives and livelihoods of communities

Socially and economically disadvantaged sections of the society are on the select focus of the Adani Foundation’s CSR efforts. These efforts are aligned with the global Sustainable Development Goals (SDGs)—addressing the topical needs of the country, such as providing education and generating livelihoods, over and above bringing universal perspectives such as human rights and rights of indigenous people to attention.