CSR 2019-20: Birla Corporation exceeds prescribed CSR budget; Focuses on health, education
CSR 2019-20: Birla Corporation exceeds prescribed CSR budget; Focuses on health, education
New Delhi, 4 September 2020: One of the largest cement manufacturers in India, Birla Corporation exceeded its prescribed CSR budget by spending approximately Rs 3.48 crore in 2019-20. The company has spent an additional amount of Rs36 lakh over and above its prescribed budget, on its CSR activities.
As per the company’s annual report, its average net profits for the last three financial years, stood at Rs 156.17 crores. Thus, the company’s prescribed CSR budget was calculated as Rs 3.12 crores (2% of the net profit).
It says, "The Company has mapped disadvantaged, vulnerable and marginalised stakeholders viz. communities in and around the areas of its significant operations, and is actively working towards their inclusive growth as part of the company’s CSR efforts."
THE COMPANY’S AVERAGE NET PROFITS FOR THE LAST THREE FINANCIAL YEARS, STOOD AT RS 156.17 CRORES
The company runs initiatives in the areas of health care including preventive health care, sanitation, providing safe drinking water, education, skill development leading to creation of alternative employment, Infrastructure development and environmental sustainability. Its efforts on environmental sustainability includes agro forestry, conservation of natural resources and maintaining quality of soil, air and water, all directed towards helping neighbouring communities, including disadvantaged, vulnerable and marginalised stakeholders and being instrumental in cultivating their progress.
The company claims that it has a well-established CSR policy to achieve the desired target in its focus areas including education, healthcare, water, infrastructure and enhancement of livelihood of rural poor.
Sectors and projects where the company spent its CSR funds
CSR project/activity identified
Sectors
Amount spent(in Rs lakh)
Contribution to multi specialty hospital promoting health care activities
Healthcare
165.85
Drinking water availability, eye check-up camps and surgery, preventive health check-ups camps, adolescent health program, awareness on sanitation, construction & renovation of solutions
Health, Water, Sanitation
78.50
Promotion of primary and secondary education and assistant for schools infrastructure development
Education
41.32
Vocational training and micro enterprise development program for women empowerment
Promotion of rural sports, cultural initiatives, support to district administration for good governance and support to old age home
Sports and Cultural Initiatives
6.96
Rural development project
Rural Development
8.81
Village development
Village Adoption
10
Total
347.62
The four-member CSR Committee of the company which includes Harsh V Lodha (Chairman), Vikram Swarup, Brij Behari Tandon and Dhruba Narayan Ghosh, met twice in 2019-2020. First meeting of its CSR Committee was held on May 3, 2019 and the second was organised on November 5, 2019.
