Godrej Consumer Products spends Rs 34 crore on CSR initiatives; Covid-19 remains focus area

New Delhi, 27 December 2021: Godrej Consumer Products Limited (GCPL), the well-known Indian consumer goods company, has spent a sum of Rs 34.09 crore on various Corporate Social Responsibility (CSR) activities in the financial year 2020-21.

The amount included Rs 28.05 crores (two percent of the average net profit of the company) along with Rs 5.85 crores, which is the unspent CSR amount for the preceding financial year. The company’s total CSR obligation amounted to Rs 33.90 crores. However, the company spent Rs 34.09 crore on its CSR activities. Thus, the excessive amount spent by GCPL was Rs.0.19 crore. Out of the total CSR spend, the amount spent on administrative overheads was Rs 1.36 crore.

The average net profit of the company for the last three fiscal years stood at Rs1,402.41 crores. Prescribed CSR budget of a company is derived as the two percent of its average net profit from the past three years.

Major focus areas

As part of its CSR efforts, Godrej ran community waste management projects using circular economy principles. In the past, it has collaborated with the Hyderabad and Kalyan-Dombivali Municipal Corporations.

Another focus of the company’s CSR programme is working closely in communities around its manufacturing plants. All of its efforts this year were diverted to the COVID-19 response. GCPL provided 4,400 food packets to the communities around its manufacturing sites, reaching out to 22,000 people.

The annual report of the company states, “Our livelihood programmes focus on economic empowerment and are a part of our CSR initiatives. They are guided by our Good & Green vision and our CSR Policy and are reported under Schedule VII, Section 135 of the Companies Act, 2013.”

CSR amount spent by Godrej Consumer Products against ongoing projects for the financial year

CSR amount spent by Godrej Consumer Products against other than ongoing projects for the financial year

Composition of the CSR Committee

Nisaba Godrej is the chairperson of the CSR committee at Godrej Consumer Products Limited. Other key members include Tanya Godrej, Nadir Godrej, and NarendraAmbwani.