New Delhi, 22 December 2021: Indian Oil Corporation Limited, an Indian public sector undertaking, has spent Rs 118 crore over and above its mandatory CSR obligation for the financial year 2020-21. The company has spent a whopping Rs 460 crores on various CSR projects with a focus on healthcare, education, environment, women empowerment and rural development in this duration.
As many as 125 lakhs people were benefited from its CSR activities, claims the company.
The average net profit of the past three years of Indian oil limited, a Maharatna company, was Rs 17,100 crore. Therefore, its prescribed budget calculated as two percent of the average net profit of the past three years, stood at Rs 342 crore. However, the company spent a total of Rs 460 crore on its CSR activities for the financial year 2020-21. Thus, the company spent an excessive sum of Rs 118.37 crore, which is 35% above its mandatory CSR obligation. Out of this, the amount spent on administrative overheads was Rs 15.31 crore and the amount spent on impact assessment was Rs 0.01 crore.
Of its total CSR spend, the company spent a huge chunk in the fight against Covid. It contributed Rs 225 crore to the PM CARES Fund. During the year, it also undertook various CSR initiatives to overcome the challenges posed by the Covid-19 pandemic like insurance coverage for employees of business partners, providing medical equipment to hospitals, procurement of cold chain equipment for transportation of vaccines, etc.
Indian Oil’s CSR: Focuses areas
- Providing safe drinking water and protection of water resources
- Healthcare and sanitation
- Education and employment enhancing vocational skills
- Rural development
- Environmental sustainability
- Empowerment of women and socially/economically backward groups
IOCL CSR spent against ongoing projects for FY 21
|
S.No.
|
Project name
|
Location
|
Amount spent (in crore)
|
|
1.
|
Other CSR Projects approved by Competent Authority with expenditure upto Rs.2 crore per project
|
All India
|
40.59
|
|
2.
|
Construction of 100 TPD cattle dung based biogas plant, Jaipur
|
Rajasthan
|
16.89
|
|
3.
|
Contribution to Skill Development Institute, Bhubaneswar: CAPEX
|
Odisha
|
17.11
|
|
4.
|
Provision of 27 tube wells and 80 Hand pumps at Jodhpur District, Rajasthan
|
Rajasthan
|
4.24
|
|
5.
|
Providing scholarships to sports person under IndianOil ACERS
|
All India
|
3.77
|
|
|
Others
|
|
0.77
|
|
|
Total
|
|
87.37
|
IOCL CSR spent against other than ongoing projects in FY 21
|
S.no.
|
Project name
|
Location
|
Amount spent (in crore)
|
|
1.
|
Contribution to PM-CARES Fund
|
All India
|
225.00
|
|
2.
|
Contribution towards Institute of Chemical Technology- IOC campus, Bhubaneswar
|
Odisha
|
21.00
|
|
3.
|
Contribution to IOF: Developing tourist friendly facilities at Archaeological Survey of India sites of iconic importance
|
All India
|
11.44
|
|
4.
|
Health Cover insurance for employees of business/logistic partners under CSR for Covid-19
|
All India
|
7.97
|
|
5.
|
Covid Relief - Contribution towards procurement of various equipment for dedicated Covid Hospital &Covid Care Centre at Bargarh, Odisha
|
Odisha
|
5.58
|
|
|
Others
|
|
179.01
|
|
|
Total
|
|
357.70
|
The amount spent on administrative overheads was Rs 15.31 crore.
Indian Oil’s CSR contribution in fighting Covid-19 pandemic
To fight the pandemic, Indian Oil contributed Rs 225 crore to the ‘PM CARES fund’. In addition, it extended support to set up Covid CARE Centres, Quarantine Centres etc. and provided/distributed 16 Ambulances, 30 ventilators, 37 ICU cots, 460 IR temperature guns, more than 1,900 testing kits, more than 29 Lakhs masks; more than 33 kl of sanitisers; more than 17.5 Lakhs food packets; more than 40 thousand grocery packets; more than 2 Lakhs gloves; more than 10 thousand PPE kits, more than 65 thousand soap/liquid hand wash, mosquito nets, gumboots, etc., across the country.
As a major CSR initiative, the company provided Health Insurance coverage to more than 3 lakh frontline workers including employees / contract labourer of the Business Channel partners who work round the clock to maintain the supply of essential services at various customer touch points such as Retail Outlets, LPG Distributors, Lubes CFA, Transporter, etc. during the lockdown
·Extended support to set up Covid Care Centre and 100 bed facility (92 General bed facility + 8 ICU Bed facility) Covid-19 Hospital at Medical College & Hospital (MCH) building of District Headquarter Hospital (DHH), Bargarh, Odisha
·Augmented the country’s Covid-19 vaccination programme by providing Cold Chain Equipment (CCE) viz. Ice Line Refrigerator (ILR), Deep Freezer (DF), Walk-inCooler (WIC), Walk-in-Freezer (WIF), Refrigerated Truck (RT), etc. to the state government in 4 states of Jammu & Kashmir, Tamil Nadu, Bihar, and Manipur
Indian Oil: Composition of the CSR & Sustainable Development Committee
Rajendra Arlekar is the Chairman of the CSR and Sustainable Development Committee of Indian Oil. Other key members are G. K. Satish, Ranjan Kumar Mohapatra, Gurmeet Singh, and Sandeep Kumar Gupta.
The annual report of the company states, “Every year, as part of our CSR commitments, we make efforts towards community welfare and development, with programmes focused on healthcare, education, women’s empowerment, etc. Moreover, the Indian Oil Foundation (IOF), exclusively funded by Indian Oil, aims to protect, preserve and promote India’s glorious past.”
