New Delhi, 7 October 2020: Grasim Industries, part of Aditya Birla Group, has exceeded the prescribed CSR budget by 20 % in the year 2019-20. The textile major with diversified business interests spent around Rs 59 Crore on various CSR activities.
Grasim Industries had a prescribed CSR budget of Rs 48.43 Cr for the year 2019-20. However, the company led by Kumar Mangalam Birla went much beyond the obligatory budget by spending close to Rs 10 Cr more on its CSR programmes.
"During the year, the company has spent an amount of Rs 58.98 Crore on CSR activities, mainly on education, health care, environment and livelihood, rural development projects, social empowerment, etc., and to bring about social change by advocating and supporting various social campaigns and programmes," the company officials said.
The prescribed CSR budget of a company is calculated as 2% of the average annual profit of a company over the last three financial years. For Grasim Industries, the average net profit for the last three financial years stood at Rs 2,421.32 Crore. "The Company has spent a sum of Rs 58.98 Crore, which is more than 2% of the average net profits of the last three years for the purposes of CSR," the company said, adding, the CSR spent for the year 2019-20 was 2.43% of the net profit for the last 3 years.
Last year also, the company had spent a total of Rs 47.1 Crore on various CSR activities.
Some of the key focus areas for the company’s CSR projects include Education, Health, Environment and Livelihood, Rural Development and Social Empowerment.
Grasim Industries - Key CSR projects in 2019-20
| CSR Projects | CSR Sector | Project Location | Amount spent (in Rs Crore) |
| School Education Project | Education | Bharuch, Surat & Gir Somnath, Panchmahal (Gujarat), Ujjain (MP), Rehla (Jharkhand), Ganjam (Odisha), Hooghly (WB), Amethi (UP) | 29.85 |
| Vocational and Technical | Education: | Bharuch, Surat (Gujarat),Ujjain (MP), Hooghly (WB), Ganjam Odisha), Amethi (UP) | 1.03 |
| Curative Health Care Programme | Health | Bharuch, Surat & Gir Somnath, Panchmahal (Gujarat), Ujjain (MP),Rehla (Jharkhand), Ganjam (Odisha),Hooghly (WB), Amethi(UP), Haveri (Karnataka) | 12.81 |
| Health Infrastructure | Health | Bharuch, Surat &Gir Somnath, Panchmahal (Gujarat), Ujjain (MP),Rehla (Jharkhand), Ganjam (Odisha),Hooghly (WB), Amethi(UP), Renukoot (UP) | 1.58 |
| Natural Resource Conservation Programmes &Non Conventional Energy | Environment & Livelihood | Bharuch &Gir Somnath,(Gujarat), Ujjain (MP), Rehla (Jharkhand),Ganjam (Odisha), Haveri (Karnataka), Renukoot (UP) | 1.14 |
| Rural Infrastructure Development other than for the purpose of Health/ Education/ Livelihood & Others | Rural Development | Bharuch & Gir Somnath (Gujarat), Ujjain (MP), Rehla (Jharkhand)Amethi (UP), Haveri (Karnataka) | 1.63 |
| Disaster Relief Programmes, Support to development organisations & Others | Social Empowerment | Ujjain, Bhind (MP),Rehla (Jharkhand), Renukoot (UP), Gir Somnath (Gujarat), Ganjam (Odisha),Hooghly (WB), Amethi(U.P.) | 1.01 |
| Traditional Handicrafts Promotion/Development (Handloom Textiles –Ikat, Jamdani &Banarasi Artisans) | Protection of heritage, art and culture | Bhind (MP) | 3.96 |
The company’s CSR Committee is chaired by Rajashree Birla who also heads Aditya Birla Centre for Community Initiatives and Rural Development (ABCCIR).
The Company undertakes its social projects under the aegis of ABCCIR. It also forms collaborative partnerships with governments, district authorities, village panchayats, NGOs and like-minded stakeholders. The company carries most of its CSR initiatives under a private partnership model.
