New Delhi, 23 August 2020: Leading cement-maker JK Cement has spent Rs 70 lakh in excess to its prescribed CSR budget in the financial year 2019-20. The company which had a mandate of spending around Rs 8.66 crore on its CSR activities ended up spending a total of Rs 9.35 crore at the end of the financial year, the company reported.
The Company’s total spending on CSR stood at 2.63% of the average profit after taxes in the previous three financial years.
The average net profit of the company over the last three years was Rs 433 crore. Accordingly, the prescribed CSR amount, calculated as the 2 % of the average annual profit over the last three years, was Rs 8.66 crore for the financial year 2019-20.
"The total amount required to be spent by the Company on Corporate Social Responsibility (CSR) activities during the year 2019-20 was Rs 8.66 crore as. 2% of average net profits for the last three financial years, calculated as per section 198 of the Companies Act,2013," the company reported.
The company had exceeded the prescribed CSR budget last year as well. In the financial year 2018-19, the company had spent a total of Rs 6.68 crore against the required CSR spend of Rs 6.40 crore on its various CSR programmes.
JK Cement CSR focus- Community Welfare, Health and Livelihood
The company focussed on CSR projects related to community welfare, rural infrastructure development and health and livelihood with most of the projects aligned to the needs of the local community. The company undertook CSR projects at various locations across Rajasthan, Uttar Pradesh, Haryana and Karnataka.
While the total spends on Education CSR projects was Rs 2.16 crore, the actual expenditure on rural infrastructure was Rs 3.64 crore. Further, the spend on community welfare was Rs 3.24 crore.
The Company assists in running of Schools at their Cement Plants, ITIs and Sir Padampat Singhania University, Udaipur imparting value-based education to the students. "The Company played a constructive role in the infrastructural development of surrounding areas. During the period under report, the Company undertook various activities e.g. Art and Culture, Community Welfare, Drinking Water, Education, Health, Rural Development, Environment Protection, Natural Calamity, Livelihood and Sports Promotion," noted the 2019-20 annual report of the company.
The company also worked to make water accessible in local communities. A few other CSR projects focussed on health and sanitation as well.
Water Accessibility & Health
The company worked on providing drinking water facilities for Bansa, Laxmipura and Mangrol in Rajasthan. It carried out activities like laying pipelines and providing water by water tankers to nearby Villages in Shahbad (Rajasthan). The company made safe and clean drinking water supply accessible in Jharali, Haryana as well.
Under the health-related projects, the company organised Medical Check-up camps and Eye camps in Ahirpura, Karunda and Maliakhera & Phalwa in Rajasthan.
Environment
In the nearby areas of Maliakhera & Nimbahera in Rajasthan, the company carried out activities and events for promotion and awareness about Environment and organised van Mahotsav.
Livelihood
The livelihood projects run by the company included Sparsh Sanitary Pad Project for Women self-help groups. The company provided structured setups & training for earning through production and selling of low-cost sanitary pads. The project was run in Chittorgarh, Karunda, Ahirpura, Maliakhera and Nimbahera in Rajasthan.
Education
The company also organised various activities for educational promotion at nearby rural areas of Fatcher, Nimbahera & Shahbad in Rajasthan. It helped in construction of School buildings and sponsored coaching of students of rural areas at nearby villages.
