New Delhi, 13 August 2020: India’s leading bike-maker Hero Moto Corp has spent about Rs 131 crore on its various CSR programmes in the year 2019-20, exceeding the prescribed limit by over 35 per cent.
The prescribed CSR budget for the company, calculated as 2 % of the average net profit of the last three years, stood at Rs 96.55 Crore. The actual spends on the company’s Corporate Social Responsibility activities crossed Rs 131 crore, the company filed in its annual report.
The company led its Chairman Pawan Munjal reported an average annual profit of Rs 4,827 crore over the last three years.Last year also the company had exceeded its CSR spent over the prescribed CSR budget. As compared to a prescribed CSR budget of Rs 93.72 crore in the year 2018-19, the company had spent a total of Rs 101.95 crore.
"Our continuous commitment towards CSR is evident from our CSR spends in the past five years (2015-2020), which is much more than the specified amount of 2% of Net Profit," the company stated.
The CSR committee at the company is headed by Dr Pawan Munjal, who is also the Chairman, Managing Director and CEO of the company. As per the company officials, the CSR committee met twice to plan, design and monitor its overall CSR activities. The key CSR activities of the company included projects related to environment protection, road safety and support of underprivileged section of society.
Environment protection and conservation
- 7,16,000+ trees planted in FY20,totaling 20 lakh+ saplings with 90% survival
- 39 million+ litres of water saved
- 32 million+ litres of water channelised in the villages of Haryana
- 19,900+ solar streetlights installed in 225+ Gram Panchayats
- LED lights in 330 villages saving 30 million units of electricity per year
- 1,00,000+ people participated in taking a pledge for safe riding habits
- 40 motorcycles donated in FY20,bringing total fleet size of forest rangers to 270
Road Safety
- 6,50,000+ youth trained on ‘Safe Driving’ across 9 safety training parks, including 1,50,000+ trained in FY20
- 1,25,000+ Road Safety Pledges
- Regular awareness campaigns with Road Safety Clubs in 1,150+ schools and ‘Be a Hero’ programme
Support to underprivileged communities
- Project Shiksha supporting 216 schools and 4,00,000+ students to build scientific temperament and lower drop-out rates
- Mobile science labs on bike, carrying models on physics, chemistry,biology benefitting 12,000+students of government schools
- 1,400+ toilets built in Government Schools
- 5,000 girls trained in two-wheeler riding
- Entrepreneurship training for 55,000 women and 5,000+ doing business
- 7,700+ youth trained, many working now
- 6,000+ specially-abled supported for limbs, surgery and crutches;600+ trained to become professionals
- 900+ youth trained at Centres of Excellence to pursue careers in automotive or manufacturing industry
- Holistic development of villages with over 3,00,000+ beneficiaries
- 2,500+ young athletes being supported through Khelo Hero project
The company also set aside a corpus of Rs 100 crore for the relief efforts towards COVID-19,including a contribution of Rs 50 crore to the PM CARES Fund.
A few key projects that the company undertook during the year include Project Arogya and Project Seva. Under the Project Arogya, four mobile medical vans in Delhi, Haryana, Rajasthan and Gujarat benefitted more than 1,00,000 people with basic medical treatments and 2,500+children for preventive health check-ups.
As part of the Project Seva, the company distributed COVID relief material including meals, ration kits,masks, sanitisers, Personal Protective Equipment (PPE) kits and other equipment.
