New Delhi, 4 December 2020: Continuing its efforts to make a difference in the lives of underprivileged people and especially among people affected by the Coronavirus, the Britannia Industries Limited has this Financial Year of 2019-20 spent a significant amount of Rs 28.43 Crore on CSR activities.
The average net profit of the company for the last three financial years stood at Rs 1,421.71 Crore. Accordingly, its prescribed CSR budget which is 2% of the average net profit of the past three years, was calculated as Rs 28.43 Crore, and the company has spent 100% of the CSR funds in various social initiatives.
"As part of its continuous efforts to make a difference in the community, the Britannia Industries Limited this year focused its efforts to serve the needy who were most affected by the unforeseen development of the COVID-19 pandemic," the company said in its annual report.
Expenditure overview
The company this year spent its entire CSR fund of Rs 28.43 Crore in preventive health care measures including mitigating the impact of the COVID-19 pandemic; and promoting health care, growth and development of children, either directly through Sir Ness Wadia Foundation (SNWF) or in association with Bai Jerbai Wadia Hospital for Children (BJWHC), Nowrosjee Wadia Maternity Hospital (NWMH), and Britannia Nutrition Foundation (BNF).
The projects were carried out in states such as Assam, Bihar, Jharkhand, Orissa, West Bengal, Delhi, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand Andhra Pradesh, Karnataka, Telengana, Kerala, Tamil Nadu, Gujarat, Maharashtra and Madhya Pradesh.
Sir Ness Wadia Foundation
Established in 1969, Sir Ness Wadia Foundation (SNWF) is a registered non-profit organization and it was set up to work for the empowerment of the underprivileged sections of our society. It aims to fulfil their basic needs of health, education and livelihood, and strives to create empowered and self-sustainable communities.
Inspired by the life and work of the renowned industrialist and philanthropist Sir Ness Wadia, SNWF is one of India’s oldest philanthropic institutions, and has played a pioneering role over the years in bringing about a positive change in society.
Providing relief to COVID-19 victims
Stepping up its social activity, Britannia this year came forward to provide relief to the needy who are impacted by COVID-19. The pandemic, probably the most staggering health and humanitarian crises the country has seen, saw the company get swiftly into action and mobilize supply chain infrastructure to serve the affected people.
The company focused its efforts on the core constituency of people who were in need of food, people whose lives were impacted by loss of livelihoods or by the disruption in supply of Essential Foods. They included the elderly, daily wage earners, migrant workers, domestic servants, labourers, contract workers, anganwadi children, BPL families and slum communities.
CSR Committee
The Corporate Social Responsibility (CSR) Committee is headed by Ness N Wadia and comprises other members such as Keki Dadiseth, Dr Ajai Puri, Dr YSP Thorat. The composition, powers, role and terms of reference of the committee are in accordance with the requirements mandated under Section 135 of the Companies Act, 2013. During the year under review, the committee met once on March 24, 2020.
