New Delhi, 12 September 2020: Multinational pharmaceutical company, Alembic Pharmaceuticals spent Rs 13.29 crores on its Corporate Social Responsibility (CSR) activities in the financial year 2019-20. The company works in Vadodara, Chhota Udepur and Panchmahal districts and has identified education, health, water, sanitation & hygiene, sports, art & culture, environment, livelihood, community infrastructure, community safety and employee engagement as its primary focus areas.
As per its annual report, the company’s average net profit for the past three financial years, stood at Rs 663.90 crores. Accordingly, its prescribed CSR budget, calculated as 2% of the net profit was Rs 13.29 crores. The company spent its CSR fund majorly on education, health, improving life of tribal people and also mitigating disasters.
However, the company’s prescribed CSR budget in 2019-20 was reduced by approximately Rs 1 crore this year as compared to Rs14.28 crore in 2018-19.
About impact assessment of its social programmes, Chairman of its CSR committee Chirayu Amin says, "the company conducts impact assessment of its CSR initiatives through feedback collected from the beneficiaries of projects undertaken. Various projects are undertaken with Government and Semi-Government agencies that have their monitoring mechanisms and impact assessment systems. We believe that our initiatives have genuinely covered and benefited large number of beneficiaries".
In its annual report, the company says that in May 2015, it set up Alembic CSR Foundation (ACSRF) to drive its corporate responsibility initiatives. The Company’s CSR programmes are implemented through various ‘Non-Profit Organisations’, which include Alembic CSR Foundation, Bhailal Amin General Hospital, Rural Development Society, Uday Education Society and others.
Areas where the company contributed under its CSR initiatives
Education
- Contributed for community outreach programmes, school education development for students of school run by Rural Development Society at multiple programmes in Panchmahal, Gujarat. It spent Rs 2.44 crores through IA-Alembic CSR Foundation.
- Adopted schools in tribal/backward areas across Gujarat. It spent Rs 0.42 crore through IA-Alembic CSR Foundation on this.
- Contributed Rs 0.19 crore to education facilities in Vadodara, Gujarat and in Sikkim and Rs 0.16 crore on training and workshops to children, youths and teachers in Vadodara and Mumbai.
Rural development projects
Runs Village Development Programmes in Vadodara (Karkhadi), & (Sindhrot) & Panchmahal (Panelav), Gujarat and spent Rs 1.78 crores through IA-Alembic CSR Foundation.
Disaster relief activities
Contributed Rs0.29 crore towards Disaster Relief including COVID-19.
Sanitation
Through IA-Alembic CSR Foundation, it spent Rs 1.11 crore on building toilets and educating the community in Vadodara, Panchmahal in Gujarat and also in Sikkim.
Promotion and development of traditional arts and handicrafts
Contributed towards promotion and development of Arts and Handicrafts in Vadodara, Panchmahal in Gujarat & Mumbai in Maharashtra. It spent Rs 43 crore. It spent the amount through IA-Alembic CSR Foundation.
Healthcare including preventive healthcare
- Runs Blood Transfusion Centre, Cancer Care Centre & Medical Camps in Vadodara, Gujarat & Sikkim as well. It spent Rs 0.35 crore on these activities through IA-Alembic CSR Foundation.
- Contributed Rs 0.17 crore towards medical assistance & treatment to socially & economically backward persons.
Sports Promotion
The company contributed Rs 0.35 crore towards sports promotion in Vadodara Gujarat. Implementing agency for the program is IA-Alembic CSR Foundation.
Various activities covered under Schedule VII of the Companies Act, 2013
The company contributed Rs 5.60 crore towards various activities on several locations across India.
