New Delhi, 21 October 2020: Indian multinational automaker Bajaj Auto has spent an enormous amount of Rs 154 crore on Corporate Social Responsibility (CSR) and donations in 2020, exceeding its prescribed budget. The company has tried to give a significant push to the environment related projects under its CSR efforts.
The average net profit of the Company for the last three financial years stood at Rs 5,940.18 crore and its prescribed CSR expenditure (2% of this amount) was Rs 118.80 crore. However, the company went a step forward and spent Rs 119.44 crores on its CSR activities.
Out of this CSR kitty, the company spent Rs 36.57 crores on environment through several implementing agencies including Paani Foundation, Action for Agriculture Renewal, Action for Food Production (AFPRO), Development Support Centre (DSC), Foundation for Ecological Security and few others.
In addition to this Rs 119.44 crores, Bajaj Group also implemented many CSR initiatives of substantial value through its Group Charitable Trusts operating at various locations in the country, it said. This additional donation added to its CSR made its overall CSR spend Rs 154 Crore in 2020. The company had spent Rs 112 Crore towards its CSR activities in the year 2018-2019.
In the beginning of the financial year, the CSR committee members of the company included Rahul Bajaj, Chairman, Rajiv Bajaj, Nanoo Pamnani and Pradeep Shrivastava. However, consequent upon the sad demise of Nanoo Pamnani on 22 February 2020, the CSR Committee was reconstituted with induction of Naushad Forbes as a member with effect from 17 March 2020.
During the year under review, the Committee met five times in the financial year ending on March 31, 2020.
Rural Development
- The company spent Rs 16 crores through implementing agency named JBGVS (Integrated Rural and Urban Development Project) 5 Districts of Maharashtra, Rajasthan and Uttarakhand
Environment Sustainability
- The company spent Rs 7.74 crores through Action for Agriculture Renewal in Aurangabad district of Maharashtra
- It spent Rs 6.47 crores through Action for Food Production (AFPRO) same district of Maharashtra
- It spent Rs 6.44 crores through Development Support Centre (DSC) in same district
- It spent Rs 5.40 crores through Foundation for Ecological Security in nine districts of Rajasthan, Maharashtra, Karnataka, and Andhra Pradesh
- It spent Rs 3.65 crores through Shramjivi Janata Sahayak Mandal (SISM) in Man (Dahiwadi) tehsil.
- It spent Rs 3.57 crores through Marathwada Gramin Vikas Sanstha in Vaijapur, Maharashtra
- It spent Rs 3.30 crores through Paani Foundation in 40 Talukas of 21 Districts of Maharashtra
Disaster Relief
- The company donated Rs 5 crores to Disaster Relief Fund for Odisha
- It also donated Rs 2.50 crores to Chief Minister’s Relief Fund in Maharashtra
Education
- The company donated Rs 4 crores to Indian Institute of Science Education and Research (IISER)
- It spent Rs 3 crores through United Way of Delhi in Uddham Singh Nagar district of Uttarakhand
- The company spent Rs 2 crores on construction of a new lecture theatre complex at Govt. Medical college and hospital, Aurangabad
Healthcare
The company spent Rs 3.10 crore through Aditya Jyot Foundation for Twinkling Little Eyes in Mumbai
Technology Incubators
The company spent Rs 2.50 crores on Rahul Bajaj Technology Innovation Centre (RBTIC) in IIT Bombay
