New Delhi, 18 January 2022: Fortis Healthcare Limited, the Indian multinational chain of private hospitals, achieved its target of the prescribed CSR (Corporate Social Responsibility) expenditure by spending Rs 5.09 crore on several healthcare projects.
The average net profit of the company for the past three financial years stood at Rs 254.71 crore, as per the healthcare unit’s annual report. Its prescribed CSR budget calculated as 2 percent of average net profit of the past three years, stood at Rs. 5.09 crore. The company managed to spend its total CSR obligation for FY 21 by focusing on healthcare projects. The company’s CSR programmes were focused on Sustainable Development Goals (SDG) on ‘Good health and Wellbeing’. The company and its subsidiaries supported the efforts of the government in the fight against COVID-19, Research & Development, and Central Armed Police Forces (CAPF), and also supported Central Para Military Forces (CPMF) veterans, and their dependents including widows.
Fortis Healthcare CSR activities during the Financial Year
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S.No.
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CSR Project
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Contributing Entity
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Direct or through implementing agency
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1.
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Savera
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Fortis Healthcare Limited
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Designated Special Purpose Vehicle
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2.
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COVID-19
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Fortis Healthcare Limited
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Direct to Prime Minister’s National Relief Fund
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3.
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Central Armed Police Forces(CAPF) and Central Para Military Forces(CPMF) veterans, and their dependents including widows
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Fortis Healthcare Limited
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Direct Contribution to Bharat Ke Veer fund to support Central Armed Police Forces (CAPF) & Central Para Military Forces (CPMF)
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The company spent Rs. 5.09 crore for the year ending March 31, 2021 and Rs 0.38 crore for the year ending March 31, 2020 towards CSR expenditure. For the fiscal year ending March 2020, the average net profit of the company was Rs. 18.76 crore and the amount to be spent was Rs 37.53 lakh.
“The company’s CSR initiatives followed a ‘need based’ program approach. CSR activities were carried out in a collaborative and inclusive manner not only to align and synergise the social enterprise work of the group companies but also to expand the circle of partnerships with government, Non-Government Organisations (NGOs), other corporates and individuals,” states the annual report of the company.
Fortis Healthcare Limited and Fortis Hospital Limited
This year, the company and one of its wholly-owned subsidiaries viz Fortis Hospital Limited contributed its CSR Fund to the “Bharat Ke Veer” fund to support Central Armed Police Forces (CAPF) & Central Para Military Forces (CPMF) veterans and their dependents including widows. A fund-raising initiative by the Ministry of Home Affairs, Government of India on behalf of members of the Indian paramilitary forces.
The annual report states, “They are always on duty and have round the clock commitments throughout the year, without any consideration for leave, holidays, weekends, festivals and personal commitments. They work in very hazardous conditions and stress compiled with unhygienic living conditions. Many lost their lived in terrorist/Naxalite attacks. Our contribution will support the dependents and widows of brave heart heroes.”
Escorts Heart Institute and Research Centre Limited and SRL Limited
This year, Escorts Heart Institute and Research Centre Limited and SRL Limited contributed the CSR fund to ICMR (The Indian Council of Medical Research) fund to support research and development projects in the field of science, technology, engineering, and medicine. The fund to ICMR was duly approved CSR fund as per Schedule VII of Section 135 of the Companies Act.
CSR Committee of Fortis Healthcare Limited
The Corporate Social Responsibility Committee at Fortis comprises Dr. Kelvin Loh Chi Keon, Indrajit Banerjee, Ravi Rajagopal, Shailaja Chandra, and Suvalaxmi Chakraborty.
