New Delhi, 21 October 2020: Making efforts in the area of preventive healthcare and women empowerment, Raymond - an Indian branded fabric and fashion retailer - has spent Rs 1.52 Crore under various CSR activities in the financial year 2019-20.
The average net profit of Raymond for the past three financial years stood at Rs 75. 9 Crore. The prescribed expenditure for the company’s CSR activities was thus calculated as Rs 1.52 Crore. The prescribed CSR budget of a company is calculated as 2% of the average net profit of the past three years. The company managed to spend 100 % of its CSR budget. However, the company’s CSR expenses this year were Rs 7.35 Lakh less than the previous year. Last year, the company had spent Rs 1.59 Crore towards its CSR activities.
"Our aim is to be one of the most respected companies in India with delivering superior and sustainable value to all our customers, business partners, shareholders, employees and host communities. The CSR initiatives focus on holistic development of host communities and create social, environmental and economic value to the society," the company said in its annual report.
CSR expenditure highlights
| Projects | Sectors | Locations | Amount spent (in Rs Lakh) |
| Rehabilitation of cancer survivors | Promoting Healthcare | Mumbai, Maharashtra | 45 |
| Supporting women trafficked into prostitution and assist their kids | Women empowerment | Mumbai, Maharashtra | 33 |
| Supporting under-privileged kidney patients to avail treatment | Promoting Healthcare | Mumbai, Maharashtra | 32 |
| Supporting children suffering from cancer | Promoting Healthcare | Mumbai, Guwahati, Kolkata, Jaipur | 30 |
| Providing free eye check-up and cataract surgeries to marginalized section | Promoting Healthcare | Thane, Maharashtra | 9 |
Key projects
This year, the company has undertaken projects in the areas of environment sustainability, preventive health care and women empowerment. These projects are in accordance with Schedule VII of the Act and the Company’s CSR policy.
The company focused on eradicating hunger, poverty and malnutrition; promotion of healthcare including preventive healthcare; promotion of education and employment-enhancing vocational skills.
The company also made a contribution towards setting up of a 1000-bed COVID-19 hospital at Thane in Maharashtra through its CSR outlay.
Promotion of healthcare
Vision Foundation of India: Through Vision Foundation of India, Raymond reached out to marginalised sections suffering from curable eye ailments for providing free eye check-up and 500 cataract surgeries to people in and around the plant locations of the Company.
Apex Kidney Foundation: The foundation works in the direction of making quality renal care accessible and affordable on a national scale. Raymond supported this foundation for providing lifesaving renal treatment to underprivileged patients.
St. Jude India Childcare Centres: Raymond and this institution joined hands for supporting children suffering from cancer by providing them food, hygienic and safe place to stay, transport facility to the hospitals for their treatments, theme based learning, vocational and recreational facilities, counselling to deal with the stress associated with the disease.
Indian Cancer Society: The institute is a pioneer in the space of cancer initiatives and creating awareness about cancer. Raymond decided to support the cancer survivors through the institute’s ‘Cancer Survivor Rehabilitation Program’ involving occupational therapy and vocational skill building activities and counselling for the survivors enabling them to be integrated back into the society.
Women empowerment and environmental sustainability
Apne Aap Women’s Collective: Keeping up with our determination for women empowerment, Raymond continued to support the programs run by the foundation for helping women trapped in prostitution by providing them vocational skills, empowering their daughters to pursue education and prevent them from entering prostitution and providing a safe and secure environment to the toddlers of such women to lay down a strong foundation for their formal schooling.
Society for Human and Environmental Development: Raymond partnered with the institution along with one of its subsidiary companies to jointly fulfil the CSR obligation by training women for organic farming, tree plantation, maintaining kitchen gardens and conducting awareness programs on the same.
