DMart spends over Rs 35 crore on CSR projects; Major focus on education

New Delhi, 19 November 2021: DMart, an Indian retail corporation operating a chain of hypermarkets in the country, has spent a whopping amount of Rs.35.59 crores as a part of its Corporate Social Responsibilities (CSR) for the financial year 2020-2021. The company’s CSR obligation amounted to Rs 34.65 crore. Thus, it has spent an additional sum of Rs 0.94 crore.

The annual report of the company states, "Our CSR activity is directed towards primary education in municipal schools. Students faced significant disruption during the year, thus our team gradually reached out to students by using virtual learning environments and enabled them to continue their learning amidst this disruption. We continue to improvise on our efforts in this area."

Details of CSR expenditure

• Average net profit of the company as per section 135(5): Rs 1,485.72 crores
• Two percent of average net profit: Rs 29.71 crores
• Total CSR obligation for the financial year: Rs 34.65 crore (Rs 29.71 crores for FY 2020-21 and Rs.4.94 crores unspent amount for FY 2019-20)
• Amount spent on administrative overheads: Rs 1.02 crores
• Total amount spent: Rs.35.59crores
• Excess amount for set-off, if any: Rs.0.94 crores

Therefore, instead of two percent, DMart spent 2.39% of its average profit for the previous three years (computation as prescribed by the Companies Act, 2013).

CSR amount spent against ongoing projects for the financial year

CSR amount spent against other than ongoing projects for the financial year

Major areas

One of the key CSR focus areas of the company is on enhancing the quality of education in municipal schools. Its interventions provided support to these schools within the state curriculum framework by enhancing the quality of teaching methodology so that student learning outcomes are better. The company’sprogramme currently supports students from six municipal corporations of the Mumbai metropolitan region (Mumbai, Thane, Navi Mumbai, Panvel, Mira Bhayander, and Kalyan Dombivali).

"We have an in-house team dedicated to carry out the company’s CSR initiatives. We also collaborate with expert partners and NGOs for some of our initiatives," states the annual report of DMart.

Composition of the CSR Committee

The company’s CSR committee is headed by Chairman Chandrashekhar Bhave. Other key members of the committee include Ramesh Daman, Manjri Chandak, and Ramakant Baheti.