New Delhi, June 30, 2021: Shriram Transport Finance has spent a massive Rs.64.96 Cr on various Corporate Social Responsibility (CSR) projects in the financial year 2020-21. The CSR spent by the leading transport finance company was a little more than its prescribed CSR budget of Rs 62.91 crores for the year.
According to the company, its average net profit for the last three financial years stood at Rs. 3145.51 crores. Accordingly, its prescribed CSR budget, which is calculated as 2 percent of the average net profit of the past three years, was calculated as Rs. 62.91 crores. The company, however, spent an excessive amount of Rs. 2.05 crores on several social initiates.
For the financial year 2019-20 also, the company had spent Rs. 53.16 Cr on various CSR activities. Over the years, STFC has created a niche in commercial vehicle segment and scaled its products and services encompassing pre-owned and new commercial and passenger vehicles, tractors, 3 wheelers, multi-utility vehicles, etc. The company also provides ancillary services including finance for working capital, engine replacement, small business finance loans, tyre loans and fuel loans as holistic financing support.
In 2010-21, the company continued its focus on providing education, vocational training, and promoting health care facilities to the economically weaker and underprivileged section of the society.
"We strongly believe in giving back to the society and this is the guiding principle around which all the Corporate Social Responsibility (CSR) activities are undertaken. Our aim is to improve the quality of life of the trucking community which includes the truck drivers as well as their families. During FY 2020-21, we contributed INR 64.96 Crores towards CSR activities and the initiatives are mainly segregated into three categories mainly viz. Preventive Healthcare, Education and Skill Development," the company says in its annual report.
Shriram Transport Finance Company - CSR spent in 2020-21
| S.No. | Key Spending Area | Project Name | Location | Money Spent (in INR Cr) |
| 1 | Education | ● Promoting Primary & Secondary
● School Scholarship Scheme
● Higher Education Scholarship Scheme
● Promoting research in mathematics and computer science
● Single Teacher School
| Pan India | 45.72 |
| 2 | Training & Skill Development | Drivers’ Training Program | Maharashtra, Madhya Pradesh, Tamil Nadu, Chhattisgarh, and Odisha | 3.55 |
| 3 | Preventive Health Care | ● Mobile Medical Unit & Health Clinic
● Blood donation -Indian Red Cross Society
● Covid-19 (Pan India)
| Karnataka, Odisha, Tamil Nadu, Rajasthan, Maharashtra, Andhra Pradesh, Gujarat, Jharkhand, Assam, West Bengal & Bihar | 12.04 |
| 4 | Promotion & development of traditional arts | Preservation of art, culture and heritage | New Delhi | 2 |
| 5 | Miscellaneous expenses | Vocational training, educational awareness program, preventive health care, preservation of art & culture, etc. | Pan India | 0.83 |
| Overhead expenses |
|
| 0.82 |
| Total |
|
| 64.96 |
The company executed its CSR projects with its different implementing partners which included
● Shriram Seva Sankalp Foundation
● Buddy4study
● Terna Public Charitable Trust
● DB Skills Foundation
● Piramal Swasthya Management and Research Institute
Shriram Transport Finance also contributed Rs. 3.46 crores as financial support for projects such as the construction of toilets cum bathroom, desilting of temple tanks in the Southern parts of India, and preservation of arts, culture & heritage.
Shriram Transport Finance - CSR focus areas
Preventive Healthcare
The company works in sync of the National Health Mission’s (NHM) vision for quality and affordable health services for all. The company has been majorly focusing on health needs of trucking community. Towards this, it has partnered with various NGOs, government and private parking associations, and a third-party contractor, where Mobile Medical Units (MMUs) are stationed near the truck parking areas to help truck drivers with different health services.
Education
The company provides merit-based scholarships to the children of the trucking community and contributes towards quality education. The initiative is divided into two categories—secondary education (for students studying in classes 8th to 12th and higher education (for ITI/diploma/graduation or engineering). The STFC has been executing this project with its implementation partner Buddy4Study.
Skill Development
With company’s objective to transform the driver community from an unorganized sector to a well-managed professionally empowered skill segment, it organises training programs related to the driving of light motor vehicles (LMVs) and heavy motor vehicles (HMVs) for skilling, re-skilling, and up-skilling of commercial vehicle drivers. "Our consistent efforts and outreach initiatives for the betterment of the society over the last 15 years has helped a total of 7,25,143 number of individuals in gaining health and sanitation awareness, provided holistic education to 1,50,921 number of students and generated livelihood for 10,762 number of families," the company states.
CSR Committee
The company’s CSR committee is headed by Mr. Umesh Revankar who is the Chairman of the committee. Other key members of the committee comprise Mr. S. Lakshminarayanan, Mr. Pradeep Kumar Panja, Mrs. Kishori Udeshi, and Mr. Puneet Bhatia.
