UltraTech Cement spends 164% of prescribed CSR budget for FY21

New Delhi, 29 November 2021: UltraTech Cement Limited, a subsidiary of the Indian multinational conglomerate, Aditya Birla Group, has spent 64% over and above its prescribed CSR budget for the financial year 2020-21. The company spent an amount of Rs 120.68 crore on its CSR activities during FY21 on education, women empowerment, sustainable livelihood, infrastructure development, COVID-19, etc. The excess amount spent for the financial year amounted to Rs46.96 crore

Details of CSR expenditure

The average net profit of UltraTech Cement Limited as per section 135(5) was Rs3,686 crore. Thus, two percent of the average net profit of the company was calculated as Rs.73.72 crores, which is the total CSR obligation of the company for the financial year. The amount spent on administrative overheads stood at Rs.2.98 crore. Therefore, the company spent a sum of Rs.120.68 on various CSR activities which was over 3.3% of the average net profits of the last three financial years.

“The company’s CSR activities are focused on Social Empowerment and Welfare, Infrastructure Development, Sustainable Livelihood, Healthcare and Education. Various activities across these segments have been initiated during the year around its plant locations and the neighboring villages,” stated the annual report of UltraTech Cement Limited. The major locations where this CSR amount for the financial year was spent are Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Chhattisgarh, Karnataka, Andhra Pradesh, Himachal Pradesh, Uttar Pradesh.

CSR amount spent for the financial year

Beisdes, these, a total of Rs 2.98 crore was spent on administrative overheads by the company.

Composition of CSR Committee