New Delhi, 12 January 2022: Adani Ports and Special Economic Zone Limited, India's largest private multi-port operator, has spent Rs 72.99 crores on different projects under its Corporate Social Responsibility (CSR) in the financial year 2020-21.
In its recent annual report, the company declared an average net profit of Rs 2,804.84 crores for the last three financial years. Accordingly, its mandatory CSR obligation for FY 21 was calculated as 56.10 crores. The company, however, exceeded its CSR expenditure expectation by spending a total of Rs 72.99 crores against its CSR obligation of Rs. 56.10 crores. The excessive money spent by Adani Ports and Special Economic Zone (APSEZ) amounted to Rs 16.89 crores, which is 30 percent over and above its prescribed CSR budget.
The provisions pertaining to corporate social responsibility as prescribed under Section 135 of the Companies Act, 2013 make it mandatory for the companies to spend 2% of the average net profits of a company made during the three immediately preceding financial years.
“The Company has spent Rs. 72.99 crore on CSR activities. This amount is more than 2% of the average profit for the three previous years with respect to standalone financial statements. The excess CSR spent will be carried forward for set off for FY 2021-22 as per provisions of the Companies Act, 2013,” stated the annual report of the company.
CSR Expenditure Summary of Adani Port and SEZ
The major activities in which CSR was undertaken were COVID relief, primary education, community health, sustainable livelihood, and community infrastructure. The details are as follows:
|
S.No.
|
Name of the project
|
Location
|
Amount spent (in Rs crores)
|
|
1.
|
COVID support- PM CARES Fund
|
PAN India
|
55.00
|
|
2.
|
COVID support – CM Relief Fund
|
Across Gujarat
|
5.00
|
|
3.
|
Empowering youth for employment or self-sustainability through skill training
|
Across Gujarat
|
1.00
|
|
4.
|
Education and Social development
|
PAN India
|
11.99
|
|
|
Total
|
|
72.99
|
Rajesh S. Adani is the Chairman of the CSR committee. Other key members of the committee are Dr. Malay Mahadevia and G K Pillai.
Focus areas of Adani Port and SEZ
APSEZ CSR efforts are aligned with Sustainable Development Goals (SDGs). This fittingly addresses topical needs, such as generating livelihoods and mitigating poverty, while bringing universal perspectives like human rights and the rights of indigenous people into focus. To ensure the holistic development of every member of society, Adani Ports and Special Economic Zone supports Adani Foundation’s initiatives in education, community health, sustainable livelihoods development, and community infrastructure development.
Education: Adani Ports and Special Economic Zone and Adani Foundation are running several cost-free schools as well as subsidized schools across India like Adani Vidya Mandir at Ahmedabad, Bhadreshwar, and Sarguja, Adani Public School at Mundra, Adani DAV School at Dhamra, Navchetan Vidhyalay in Junagam (Surat). Many ‘smart’ learning programs, as well as projects to adopt government schools, are also being run in remote areas.
Community Health: Bringing healthcare to the remotest of regions, Adani Foundation’s key is improving access to quality preventive and curative services for people belonging to the weaker sections of the society. In this pursuit, it is running Mobile Health Care Units (MHCUs) across the nation, hospitals, and rural clinics, and organizes general as well as specialized health camps.
Sustainable Livelihood Development: The company and the foundation build social capital by promoting self-help groups, enhancing agricultural practices, and organizing skill development training. Specific programmes are designed for fishermen communities, farmers and cattle owners, youth, and women so that they can capitalize on their strengths and readily available resources to become self-reliant.
Community Infrastructure Development: Access to resources, increase in the avenues for developing livelihoods, safe and clean sources of drinking water, and access to quality primary health care systems lead to better productivity, reduction in morbidity, and adequate employment. Recognizing this, the company and the foundation have made activities need-specific and responsive to grassroots requirements.
Mangrove Biodiversity Park: In Mundra, the Adani Foundation has taken programs for both coastal and terrestrial biodiversity by the expansion of areas and enrichment of biodiversity spots.
