New Delhi, 22 November 2021: Hindustan Zinc, a subsidiary of Vedanta Limited, has spent Rs 214.04 crore on CSR activities during the financial year 2020-21. The company has spent an excess of Rs 17.54 crore against its mandatory CSR obligation of Rs 196.50 crore.
Hindustan Zinc is an Indian integrated mining and resources producer of zinc, lead, silver, and cadmium. The company has spent Rs 214.04 crore (equivalent to 2.18% of the profit after tax) on education, sustainable livelihoods, women’s empowerment, health, water & sanitation, sports & culture, environment, and community development. The company’s average net profit for the past three years as per section 135(5) was Rs 9824.87 crore. Therefore, its CSR obligation calculated as 2 percent of this average net profit, stood at Rs196.50 crore. The company, however, went ahead and spent a sum of Rs 214.04 crore on its CSR activities during the financial year 2020-21.
Its annual report stated, "While staying on course to deliver responsible, sustainable, and value-led growth to our stakeholders, we stood firm on our commitment to our people and the communities around us. We actively pursued our CSR agenda and COVID-19 related initiatives to support them through these challenging times."
The company spent an excess of Rs18 crore on its CSR which it has proposed to offset against future obligations and has recognised the same as an asset in the balance sheet.
CSR amount spent against ongoing projects for the financial year
Project name
| Amount spent (in Rs crore) |
Khushi
| 13.12 |
Shiksha Sambal
| 2.83 |
Child Care Centers
| 0.54 |
Jeevan tarang
| 0.83 |
Unchi Udaan
| 2.96 |
Others
| 54.67 |
| Total | 74.95 |
Other CSR projects for the financial year
Project name
| Amount spent (in crore) |
Support to Education
| 10.04 |
Health, Water & Sanitation
| 0.67 |
COVID Initiatives
| 116.36 |
Livestock Management Projects
| 0.22 |
Micro enterprises/ SME
| 0.29 |
Others
| 7.42 |
| Total | 135.00 |
Other than these, the amount spent in administrative overheads was Rs 4.09 Crore
During the year, Hindustan Zinc spent Rs214 crore on CSR programmes as compared to Rs132 crore in the previous year.
The CSR outreach encompassed the involvement of its own employees to help them experience first-hand the CSR efforts of the company. It organized several special programs throughout the year to engage with them, in order to empower them socially.
Hindustan Zinc’s CSR passionately focuses on community upliftment in a number of ways. It received CSR Health Impact Award by ‘Integrated Health and Wellbeing Council’, as a token of appreciation for its exceptional response and on-ground work with extensive focus on life, livelihood and helping mitigate the impact of the COVID-19 pandemic.
"Our CSR team worked on the ground to support both life and livelihood through an extensive focus on ensuring availability of food, sanitation, and much-needed health services. It gives us immense satisfaction that we could extend our support to the nation by supplying medical grade oxygen amid the desperate phase of shortage during the menacing second wave of the pandemic," the annual report of the company stated.
The CSR committee of the company is led by Chairperson Kiran Agarwal and other key members include Akhilesh Joshi and Farida M Naik.
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