New Delhi, 08 October 2021: Indian multinational pharmaceutical company, Dr. Reddy's Laboratories, has spent a whopping sum of Rs. 36.08 core on various Corporate Social Responsibility (CSR) projects in the financial year 2020-21.
The average net profit of the company for the past three years stood at Rs. 1705.02 crore. Thus, its mandatory CSR obligation as per Section 135(5) of the Act, calculated as 2 per cent of the average net profit amounted to Rs. 34.10 crore. The company however, went a step ahead and spent Rs. 36.08 crore, which is Rs. 1.98 crore over and above its CSR obligation. The total amount spent on its CSR was is 2.12 per cent of the average net profits of the company made during the three preceding financial years.
Major CSR Projects
Dr. Reddy's Laboratories worked primarily in the areas of education, livelihood, and health.
| Sector | Amount spent (in Rs cr) |
| Education | 9.70 |
| Livelihood | 15.04 |
| Health | 1.62 |
| Rural development | 0.06 |
| Covid relief | 9.16 |
| Total | 35.58 |
Education
The company’s education initiatives focused on enhancing the quality of education. Pudami neighborhood schools and English primaries aimed to make available quality English medium education to children from underprivileged sections. Ten Pudami schools are educating over 4,103 students. Out of these 4,103 students enrolled in FY 2021, 1,942 students were reached through online classes. The annual report of the company stated, "School Improvement Programme (SIP) is implemented in 229 government schools covering 66,543 students, across seven districts of Andhra Pradesh and Telangana. Through SIP we provide remedial learning, computer skills, science education through mobile science labs, basic amenities such as safe water and sanitation. SIP also provides scholarships for meritorious students to pursue higher education."
Health
Its Community Health Intervention Programme (CHIP) covered 145 villages of Srikakulam and Vizianagaram districts. This project was started in partnership with the NICE foundation to provide primary and preventive care at the doorstep, to a large segment of the rural population that do not have access to safe and reliable healthcare in the region.
Livelihood
The company’s livelihood programmes, implemented through Dr. Reddy’s Foundation (DRF), focused on making the Indian youth employable, enhancing their earning potential. The program aimed at delivering high-quality skill training to youth to help them get better skills and jobs. It particularly focused on improving ‘core employability’ skills to ensure that the youth is equipped with appropriate knowledge and skills for his/her profession of choice and helped pursue their career. "Grow People with Disability, a skill development programme, where differently-abled youth are given training in market-driven skills which enables them to gain a suitable employment opportunity. In FY 2021, we impacted 105 youth," states the annual report of the company.
CSR Committee
As per Section 135 of the Act, the company has a board-level CSR committee consisting of Prasad R Menon (chairman), G V Prasad, and K Satish Reddy.
