Torrent Pharma spends Rs 18 Cr on CSR activities; Major focus on paediatric healthcare, education

New Delhi, 16 November 2020: Ahmedabad based pharmaceutical company Torrent Pharma has incurred a CSR expenditure of Rs 18.07 crores for the financial year  2019- 20, higher than the statutory requirement of Rs 16.85 crores. The CSR activities undertaken by the company were under the thrust areas of community healthcare, sanitation & hygiene, education & knowledge enhancement and social care & concern.

The average net profit of the company for the last three financial years stood at Rs 843 crores. Accordingly, prescribed CSR expenditure of the company (2% of average net profit for the past three financial years) was calculated as Rs 16.85 crores. The company however spent Rs 1.22 crore more than its mandatory obligation taking its CSR expenditure to Rs 18.07 crores for the financial year 2019- 20.

Previously, in the year ending March 2019 also, the company had spent Rs 26.45 crore despite a lower prescribed budget of Rs 26.35 crore.

The Company has undertaken the following CSR Projects / Programmes during the year 2019-20:

• Paediatric Healthcare Programme
• Development and Maintenance of Public Parks
• Shiksha Setu - A quality education programme
• Supporting Primary and Secondary schools and other community development work in and around the Company’s operations

CSR Expenditure Overview

The CSR projects are conducted, preferably in areas where the company has industrial or business presence, after approval of CSR Committee and Board. Half-yearly review of the implementation of the CSR policy and plan is done by the CSR Committee. During the year, the Committee led by Chairperson Ameera Shah, met thrice.