New Delhi, 12 November 2020: Pharmaceutical manufacturing company Aurobindo Pharma has spent Rs 48.60 Crore towards its CSR activities for the year 2019-20. However, the Hyderabad headquartered company which manufactures generic pharmaceuticals and active pharmaceutical ingredients, failed to spend its carry forward CSR budget from the previous years.
The average net profits of the company for the last three financial years stood at Rs 2,178.26 Crore. Accordingly, the company’s prescribed CSR budget was Rs 43.56 Crore. The prescribed CSR budget of a company is calculated as 2% of the average net profit of the past three years.
However, the company also had a carry forward CSR amount of Rs 55.36 Crore as on 31 March 2019. Thus, the company’s total CSR amount available for spending during the financial year 2019-20 stood at Rs 98.92 Crore. Out of the total amount of Rs 98.92 Crore available for CSR activities, the company managed to spend barely half of the amount. The company could only spend an amount of Rs 48.60 Crore through its CSR arm - Aurobindo Pharma Foundation, which was established primarily to undertake the company’s CSR Activities.
The company’s CSR obligation
For its CSR activities, the company focussed on areas of education, preventive healthcare, eradicating hunger, poverty & malnutrition, safe drinking water, environment sustainability, sustaining ecological balance & conservation of natural resources, developing rural sports, and Setting up old age homes.
Aurobindo Pharma CSR Expenditure Summary
| Sectors | Amount Spent (in Rs Crore) |
| Promoting Education | 9.44 |
| Eradicating Hunger, Poverty & Malnutrition, Promoting Preventive Health care & Sanitation & Making available safe drinking water, Road & Safety for Public. | 21.75 |
| Promotion of Rural Sports | 2.40 |
| Rural Development Projects, Environmental Sustainability, ecological balance & conservation of natural resources & Animal Welfare. | 5.13 |
| Measures for the benefit of armed Forces veterans, War widows and their dependents | 0 .08 |
| Setting up of Old age home and Hostel for Orphans | 0.40 |
| Disaster management, including relief, rehabilitation and reconstruction activities | 7.50 |
| CSR Expenditure | 1.89 |
| Total | 48.59 |
The CSR committee of the company is led by its Chairman K. Nithyananda Reddy. Other members of the CSR committee include K. Ragunathan, Dr. M. Sivakumaran, P. Sarath Chandra Reddy and Savita Mahajan.
