Hindalco spends 150 % of prescribed CSR budget; Major focus on Education, Healthcare

New Delhi, 24 December 2021: Hindalco Industries Limited, an Indian aluminum and copper manufacturing company, has spent more than 150% of its prescribed budget for the financial year 2021. The company spent Rs 40.50 crores on its Corporate Social Responsibility initiatives with a major focus on areas like education Healthcare, women empowerment, etc.

The average net profit of the company for the past three years stood at Rs 1,344.36 crore. The legal requirement to spend two percent of the average net profit of the company as per Section 135(5) was Rs 26.89 crore. However, Hindalco spent Rs.13.61 crore in excess to its mandatory obligation, taking its total CSR spend to Rs 40.50 crore. The total spent was 2.98% of the average net profit for the previous three financial years. The excess amount spent in FY 21 will be set off within the next three financial years.

The company’s CSR thrust areas included, Education, Healthcare, Women Empowerment, Sustainable Livelihood, Infrastructure Development.

Amount spent on Hindalco’s major CSR projects for the financial year

Through various CSR initiatives in India, the company has touched the lives of more than 1.2 million people across ten states. Aligned with the United Nations Sustainable Development Goals (UN SDGs), its CSR strategies are framed to enhance community wellbeing and community development, said the company in its annual report.

“We believe community development is pivotal to responsible and sustainable business growth. Therefore, our CSR strategy adopts programmes aimed at long-term empowerment of communities through sustainable livelihood, education, healthcare, infrastructure development and social reforms, contributing to the sustainable development goals (SDGs). Our CSR programmes are in line with business objectives and strategy is guided from the top, wherein the Board of Directors takes responsibility of the CSR initiatives. Programs are aimed at metrics with a bottom-line impact such as increase in literacy rate, reduced mortality rate, and employment generation,” the annual report added.

The company has organised 325 social awareness camps on various topics that saw a participation of more than 14,000 people. It created awareness against child labour, child marriage, women abuse, dowry, and illiteracy. Hindalco extended its support by conducting and participating in cultural programmes and sporting events.

COVID-19 and Hindalco’s Community Relationship

The company’sCSR team members were on the field meeting BDO, CMO, CDMO and communities to ensure that nutrition kits, hand wash, and masks were being distributed to everyone in need. Relentless awareness camps were conducted to create awareness among health workers and the community alike about the virus. It supported the government in containing the spread of the virus by providing state-of-the-art health equipment to government health facilities.

Hindalco upgraded its healthcare facilities and converted them into dedicated COVID-19 care units. The pandemic has reinstated the necessity of a good lifestyle to ensure healthy living and focus to upgrade health infrastructure for self-reliance and going forward it will focus more on health initiatives with a holistic and inclusive approach.

Hindalco’s CSR Committee

The company’s CSR committee is led by chairperson Rajashree Birla. Other key members include Y.P. Dandiwala, SatishPai, A.K. Agarwala, and D. Bhattacharya. During the year under review, the Committee met once i.e. on June 10, 2020 to deliberate on various matters regarding its CSR.