New Delhi, 16 August 2020: One of the largest automotive engineering conglomerates in India, Escorts has spent Rs 9.85 crore on its CSR activities in year ending March 31, 2020. These activities have benefitted 70,000 people, the company claimed in its annual report. The company spent Rs 6.13 crore on CSR activities in financial year ending on March 31, 2019.
In 2019-20, the company’s prescribed CSR budget was Rs 9.80 crore while its target for previous financial year was Rs 5.92 crore.
As per the company’s annual report, net profit of the Company for last three financial years is Rs 489.91 crores. Under its CSR activities, the company covers a wide range of social issues both at local as well as national level. Its four main CSR areas include health & wellness, community development and skill development & education and also environment & safety.
"Going forward, we are preparing our strategic CSR charter for larger societal benefits," says Escorts in report while adding that "The implementation and monitoring of CSR Policy, is in compliance with CSR objectives and policy of the Company."
For better execution of the CSR Plans, the programmes were undertaken both, through in-house teams as well as in co-ordination with external NGOs, said the report.
Escorts’ implementing agencies include Lease plan India Private Limited, Chowdhary Auto Service, Shri Madhav Jan Sewa Nyas Trust, Valiant Security Pvt Ltd, Helping Hand for Animals, Haryana Refair Company, Arpana Trust, NAIRH, Touch Interior, Innovation Eventz, NS Tours & Travels Pvt. Ltd, Anand Brand Partners Pvt. Ltd., Johar Automobiles, Oil Lube Systems Pvt. Ltd and others.
The company is also helping to mitigate the deteriorating socio-economic conditions spawned by the pandemic, by delivering food and essential supplies to the communities in our vicinity, it claimed saying "We are taking every measure to sanitise all assets in our ownership, including our offices and factories."
"We are providing guidance on control measures, test kits and personal protective equipment as part of our COVID-19 response. Together with the Tajinder Singh Memorial and Escorts Medicare Foundation, we are supporting various hospitals and associate facilities to provide quality and affordable healthcare to the vulnerable and the less privileged," it said.
