Pidilite exceeds CSR budget spends over Rs 27 Cr on CSR in FY21; Major focus on Agriculture, Education

New Delhi, 13 January 2021: Pidilite Industries Limited, the leading adhesives manufacturing company, has spent a sum of Rs 27.70 crores against its prescribed CSR budget of Rs 25.88 crores, on various CSR (Corporate Social Responsibility) activities in the financial year 2020-21. The major focus areas of compay’s CSR activities include, education, healthcare.

The companys average net profit for the past three years stood at Rs 1,294 crore. Therefore, the company’s CSR budget calculated as two percent of the average net profit of a company for the past three years was reached out to Rs 25.88 crores. With an expenditure of Rs 27.70 crores against the mandatory obligation, the company has spent an excess of Rs. 1.82 crores on its CSR activities for the financial year ending March 31, 2021. So instead of 2%, Pidilite has spent 2.56% of the average net profit for the last three financial years.

The company supported various bodies in carrying out CSR activities in the areas of rural development, education, health care, general semantics, etc.

Pidilite’s CSR Expenditure Summary for FY21

CSR amount spent against ongoing projects for the financial year 2020-21

CSR amount spent against other than ongoing projects for the financial year 2020-21: Rs. 2.75 crores

CSR Objectives of Pidilite

To attain its CSR objectives in a professional and integrated manner, the main objectives of the company are to promote, carry out and support activities relating to:

• Education and training including in science and technology, humanities, etc
• Healthcare
• Welfare of children, women, senior citizens, and differently-abled persons
• Employment enhancing vocational skills
• Sanitation
• Water management
• Agriculture
• Horticulture
• Promotion of culture
• Art & craft
• Conservation of natural resources
• Promotion and development of traditional arts & handicrafts
• Employment generation
• Environment sustainability
• Science & technology
• Rural development
• Animal Welfare
• Welfare and development measures towards reducing inequalities faced by socially and economically backward groups
• Activities that include establishing, supporting and/or granting aid to institutions engaged in any of the activities referred to above

Composition of CSR Committee

N. K. Parekh is the Vice Chairman of the CSR committee at Pidilite. Other key members are Sanjeev Aga, A. B. Parekh, Meera Shankar, and Debabrata Gupta.