CSR 2020-21: Lloyds Metals & Energy spends more than its obligation; Focus on Maharashtra

New Delhi, 31 January 2022: Lloyds Metals and Energy Limited, a well-known private sector unit in India, has spent a total of Rs 34.87 lakh on its several Corporate Social Responsibility (CSR) projects in the financial year 2020-21.

The biggest chunk of its CSR money was spent on eradicating hunger, poverty, and malnutrition in Maharashtra. Other activities included providing books and paying school fees of the children along with providing medical aid and medicines to the people at the mine area in the state.

According to the company officials, the money spent on CSR amounted to more than 2% of the average net profit after taxes in the previous three financial years.  The average net profit of Lloyds Metals and Energy Ltd. over the last three financial years stood at Rs 16.92 crore. Thus, its prescribed CSR budget stood at Rs 33.84 against which the company spent Rs 34.87 lakh, thus exceeding the mandatory obligation by Rs 1.03 lakh in 2020-21.

Lloyds Metals & Energy CSR Expenditure Summary

The CSR Committee at Lloyds Metals and Energy Limited consists of Mukesh Gupta as Chairman and Dr. Balram Singh and Rajesh Gupta as members. They are responsible for:

• Recommending the amount of expenditure to be incurred on the activities
• Monitoring the implementation of Corporate Social Responsibility Policy of the Company from time to time

Lloyds Metals and Energy Limited: Major Focus Areas

The company is actively working towards providing education support to the poor students, making available fresh drinking water, meeting the medical requirements, food, and clothing for hungry and poor people in rural areas around the Surjagarh and Chandrapur districts, Maharashtra. Along with that, its major responsibilities included the following:

• Eradicating hunger, poverty and malnutrition, ‘promoting health care including preventive health care and sanitation including contribution to the Swachh Bharat Kosh set up by the Central Government for the promotion of sanitation and making available safe drinking water
• Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently-abled and livelihood enhancement projects
• Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, daycare centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups
• Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the quality of soil, air and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga
• Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts
• Measures for the benefit of armed forces veterans, war widows and their dependents, Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows