New Delhi, 6 November 2020: Continuing its efforts to impact the lives of community people in terms of health, education, livelihood and environment, Mahindra & Mahindra Financial Services Limited (MMFSL) has spent a whopping amount of Rs 27.97 Crore on various CSR projects for the financial year 2019-20. This amount is 23% more than its actual prescribed budget.
Notably, the MMFSL is one of the leading NBFCs in the country with employee strength of over 21,000 across the country.
The average net profit of MMFSL for the last three financial years stood at Rs 1,140.07 Crore. The prescribed expenditure for the company’s CSR activities was thus calculated as Rs 22.80 Crore. The prescribed CSR budget of a company is calculated as 2% of the average net profit of the past three years. However, the company has spent Rs 27.97 Crore for this financial year which is 123% of the prescribed budget.
"With a vision to transform rural and semi-urban India into a self-reliant, flourishing landscape, the MMFSL has become one of the leading NBFCs all over India. By supporting about 100 NGOs and implementing partners in the areas of Education & Livelihood, Healthcare and Environment, the company strives to become an asset in the communities where it operates," the company said in its annual report.
The CSR Committee of the company is led by Chairman Dhananjay Mungale and other members include Rama Bijapurkar, Ramesh Iyer and V Ravi. The committee held three meetings during the year and met on 24th April, 2019, 22nd October, 2019 and 28th January, 2020.
Expenditure summary
| Projects | Locations | Amount Spent (in Rs Crore) |
| COVID-19 Crisis Support | Across India | 10 |
| Nanhi Kali: Supporting education of marginalised girls | Kolhapur, Nashik, Mumbai, Moga, Kolkata, Ratlam, Prayagraj, Varanasi, Shravasti, Barabanki, Visakhapatnam, Ramanathapuram | 3.18 |
| Mahindra Pride School | Maharashtra, Tamil Nadu, Bihar, Punjab, Kerala, Andhra Pradesh, Telangana, UP, Gujarat, Delhi, Haryana, West Bengal, Rajasthan, Karnataka, Jammu & Kashmir | 8.15 |
Four key areas of CSR activities
Education
- Mahindra Finance Saksham Scholarship:Provided 2,800 scholarships for children studying in 5th to 12th Grade of Drivers and Automobile Dealership employees.
- Gyandeep:Assisted in education of underprivileged communities by providing quality education, uniforms, notebooks, textbooks, laptops, necessary infrastructure and facilities to educational and other institutions, etc. Conducted 19 visits to Municipal Schools, benefitting 2,482 students.
- Leadership through CSR (SEED Program):The Program trained employees in a Rural Environment to come up with CSR based idea / project for improvement and develop Leadership Competency in the process. Two batches of the SEED program were conducted in which 44 employees participated and 7 CSR projects were approved to be implemented during one year duration.
Health
- Jeevandan: On the occasion of Founder’s Day, Blood Donation Camps were organized with the help of employees across India at 1,257 branches. Around 23,572 employees contributed 1,19,583 man hours and 8,349 blood units were collected.
- Ambulance Donation Program:This program promotes access to healthcare for marginalised populations by providing ambulances. This year we donated 14 ambulances to 14 NGOs across India.
- Health Check-up Camps:Conducted 16 Health Check-up camps across India on general health and provided medical aid benefitting 1,175 persons.
- Swachh Bharat:The program supports Prime Minister’s clean India campaign by spreading awareness about Swachh Bharat Abhiyan. The employees volunteered in 20 activities and created awareness, distributed dustbins, provided water purifiers, repaired washrooms which benefited 6,395 people.
Livelihood
- Divyang Vikas Kendra:Multiple sector skills were provided to Persons with Disability ("PwDs") so as to enable them to get employment in sectors such as Retail, Hospitality and ITES. Through this program we trained 250 PwDs at Bhopal to make them employable.
- Mahindra Pride Schools:This is a livelihood training school which provides 3 months intensive training in ITES, Retail and Hospitality to youth from socially and economically disadvantaged backgrounds. In FY 2019-20, the Company supported the schools in Pune, Patna and Chennai which skilled 2,404 students.
- Mahindra Pride Classrooms (MPC):MPC’s provide 40-120 hours of training to final year students covering English speaking, Life skills, Aptitude, Interview, Group Discussion and Digital Literacy. In FY 2019-20, 30,143 students were supported by the Company from 16 states in India.
Environment
Hariyali: The program is meant to increase green cover in the country by planting trees in multiple locations across India and supporting Environmental conservation and restoration projects. 1,01,129 saplings have been planted across India with the participation of employees.
Other social activities
Apart from these key thrust areas, the MMFSL has also contributed funds for other causes such as preservation and promotion of sports, fine arts & culture. The MM FSL has also conducted visits to orphanage homes, differently abled homes, homes for the elderly and disbursed funds for welfare of the armed forces.
