New Delhi, 16 December 2021: Shree Cement, an Indian cement manufacturer, has spent as much as Rs 45.73 crore towards Corporate Social Responsibility during the financial year 2020-21. The major thrust areas of the company included healthcare, education, women empowerment, infrastructure support and integrated rural development.
The average net profit of the company for the past three financial years according to Section 198 of the Companies Act, 2013 stood at Rs 2,242.22 crore. Therefore, its mandated CSR budget calculated as two percent of the net profit of the past three years amounted to Rs 44.84 crore. However, the company spent an additional amount of Rs.0.89 crore on its CSR activities, taking its actual CSR spend to Rs 45.73 crore which was 2.04 percent of the prescribed CSR budget. The amount spent on administrative overheads by the company was Rs.2.24 crore.
Shree cement’s focus areas for CSR
- Education
- Livelihood and income generation
- Healthcare and arrangement of drinking water
- Women empowerment and skill development
- Helping old age people, needy and orphans
- Community infrastructure and rural development
- Measures to benefit dependents of martyrs of armed forces
- Social welfare and promotion of art and culture
- Environment sustainability
- Promotion of sports
Details of Shree Cement’s CSR expenditure for financial year 2020-21
|
S.No.
|
Project name
|
Location
|
Amount spent (in Rs Crore)
|
|
1.
|
Organising health camps, running health management centres, running mother & child healthcare programs, developing sanitation facilities and raising awareness, support to victims of natural disasters & accidents and expenses on COVID-19 mitigation and relief measures
|
Rajasthan, Uttarakhand, Chhattisgarh, Haryana, Bihar, Uttar Pradesh, Karnataka, Jharkhand, Odisha, Maharashtra, Gujarat
|
4.99
|
|
2.
|
Financial assistance, civil works, furniture & fixtures, education material, sanitation facilities, uniforms, etc. in govt. schools, celebration of national days, imparting computer education and training, financial assistance to needy students, company-run schools and Shree Ki Pathshala project
|
Rajasthan, Uttarakhand, Chhattisgarh, Haryana, Uttar Pradesh, Karnataka, Jharkhand, Odhisha, Maharashtra
|
4.75
|
|
3.
|
Skill enhancement trainings for masons, programs on consumer education and awareness, training and internship programs for students, on-site training to ITI pass outs
|
Rajasthan, Bihar, Chhattisgarh, Haryana, Uttar Pradesh, Karnataka, Delhi, Punjab
|
3.14
|
|
4.
|
Basic facilities, security and medical services to oldaged people, distribution of essential items, food, etc. to needy people on various occasions and ad-hoc basis
|
Rajasthan, Uttarakhand, Uttar Pradesh, Chhattisgarh, Haryana, Karnataka, Jharkhand, West Bengal, Odisha, Maharashtra, West Bengal, Delhi, Madhya Pradesh, Punjab, Telangana, Gujarat,
|
4.64
|
|
5.
|
Support for rural cultural programs, festivals and melas, development works at various social and religious places/ institutions of nearby areas, 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
|
Rajasthan, Uttar Pradesh, Chhattisgarh, Haryana, Karnataka, Jharkhand, Odisha, Maharashtra, West Bengal, Bihar
|
9
|
|
|
Others
|
|
16.97
|
|
|
Total
|
|
43.49
|
“The company follows a balanced growth model where economic growth walks hand in hand with care for the society. By following the triple bottom line approach, it has pledged to have a positive impact on society through its business, realising its corporate social responsibility and management philosophy at the same time,” stated the annual report of Shree Cement.
Shree Cement’s CSR Committee
O. P. Setia is the chairman of the CSR committee of Shree Cement. Other key members are Prashant Bangur, Nitin Desai, Sanjiv Krishnaji Shelgikar, Uma Ghurka, and P N Chhangani.
