New Delhi, 28 September 2020: Shree Cement has spent Rs 40.47 crore on various activities under its Corporate Social Responsibility (CSR) in the financial year 2019-20.
The average net profit of this cement manufacturer company for the past three financial years stood at Rs 2,015.69 Crore. Accordingly, its prescribed CSR budget, calculated as 2% of this amount was Rs 40.31 Crore. However, the company claims to have spent 2.01% of the average net profit of past three financial years, which is Rs 40.47 Crore.
The company in its annual report says that the company’s initiatives in the field of Corporate Social Responsibility are intended to cover a wide spectrum of communities including the disadvantaged, vulnerable and marginalised stakeholders.
Focus of Shree Cement’s CSR activities are education, healthcare, livelihood support, rural and infrastructure development, support to elderly and needy people, community hygiene and sanitation, women empowerment etc.
The company carries out its CSR activities through Shree Foundation Trust. The company also engages with the local community to ascertain their needs for planning, coordinating and routine monitoring of its CSR activities and programmes, it claims.
In order to oversee all its CSR initiatives and activities, the company has constituted a Board level Committee - "Corporate Social and Business Responsibility Committee" (CSBR Committee). Its CSBR Committee comprises six members including four independent Directors and two Working Directors and it is chaired by an Independent Director.
OP Setia is the Chairman of this committee. Other members of the committee include Prashant Bangur, Nitin Desai, Sanjiv Krishnaji Shelgikar, Uma Ghurka and PN Chhangani.
Here is how Shree Cement spent its CSR budget on different sectors:
| Serial No | CSR projects or activities identified | Amount spent (in Rs crore) |
| 1 | Support for marriages of BPL girls of marginalized communities, financial assistance on birth of girl child, training and skill development of rural women, formation of SHG for undertaking entrepreneur activities | 9.47 |
| 2 | Support for rural cultural programmes, festivals and melas, development works at various social and religious places/ institutions of nearby areas, sponsorships/ contributions for various events to promote art, music, dance, literature, poetry, etc. and support to institutions of repute engaged in activities in line with the CSR policy | 7.90 |
| 3 | Construction or repair of roads in nearby villages, various community assets and community structures and buildings | 6.57 |
| 4 | Organising health camps, running health management centres, mother & child healthcare programs, sanitation facilities and raising awareness, support to victims of natural disasters and accidents, support for Autistic children and expenses on COVID-19 mitigation and relief measures | 6.29 |
| 5 | Basic facilities, security and medical services to old-aged people, distribution of essential items, food etc to needy people on various occasion and ad-hoc basis | 6.24 |
| 6 | Skill enhancement trainings for Promoting masons, programs on consumer education and awareness programs for students of IITs and IIMs, on-site training to ITI passouts | 5.71 |
| 7 | Financial assistance, civil works, furniture & fixture, education materials, sanitation facilities uniform etc in government school, celebration of national days, imparting computer education and training, adoption of Anganwadi centres, scholarship and financial assistance to needy students, company run schools | 3.07 |
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