Super CSR: Power Grid Corporation of India spends 165% of prescribed CSR budget, donates Rs130 Crore to PM CARES Fund

New Delhi, 15 October 2020: Power Grid Corporation of India Limited (PGCIL) has spent Rs 136.29 Crore over and above its prescribed Corporate Social Responsibility budget in the financial year 2019-20. Out of its total expenditure of Rs 346.21 Crore towards social causes, the company donated Rs 130 Crore to PM CARES fund in the year ending March 31, 2020.

The company’s average net profit for the last three financial years stood at Rs10,496 Crore. Accordingly, its prescribed CSR budget (2% of the average net profit of the past three years) for 2019-20 was calculated as Rs 210 Crore. However, the company has spent Rs 346.21 Crore on its CSR initiatives, which is 3.30% of the company’s average net profit of the last three financial years.

In 2018-19, the company had spent Rs 195.52 Crore on its CSR activities.

The company has prioritised health, education, environmental sustainability, sanitation, rural development and skill development programmes under its CSR activities. "An amount of Rs 346.21 Crore has been incurred and a total of 178 projects worth about Rs 373.92 Crore have been sanctioned under CSR activities during the 2019-20", says the company.

Other than the focus areas, the company says, it has taken few community development works for the overall improvement of surrounding villages and communities.

PGCIL’s sector-wise CSR expenditure

Source: PGCIL’s annual report

It says, "Based on social assessment outcome, we implement need based development works like supply and installation of solar street lights, water supply hand pumps, water filtration plants, water ATMs, construction of roads, community centers in villages, class rooms, toilets, schools furniture, water supply arrangements in different schools, supply of dustbins & Cleaning equipment etc. in association with local authorities."

The company has constituted a CSR Committee in line with the requirements of the Companies Act, 2013 and Department of Public Enterprises’ Guidelines on Corporate Social Responsibility and Sustainability for Central Public Sector Enterprises’.  The CSR Committee of PGCIL is chaired by K Sreekant.

The company had committed Rs 200 Crore towards the PM CARES fund out of which it donated Rs 130 crore in 2019-20 financial year. While rest of the Rs 70 Crore, were donated in April to the fund constituted to fight challenges like Covid-19. Its employees also extended support in fighting against Covid by contributing Rs 2.48 crore to PM CARES Fund.

During the lockdown period, it distributed around 1.2 lakh packets of cooked meals and 1,839 MT of rations to nearly 2 Lakh beneficiaries at about 275 locations. It also claims to have distributed a large number of PPE kits, masks, gloves, sanitizers to workers and needy persons in addition to providing financial assistance to different government authorities, Hospitals, Medical Colleges for procurement of PPE kits, medical equipment, ventilators, etc.

Its flagship initiative to construct "POWERGRID Vishram Sadans" in Government Hospitals in major cities has received appreciation from several corners. The POWERGRID Vishram Sadan at AIIMS (New Delhi), IGIMS(Patna) and KGMU, Phase-I (Lucknow) are already functional, it claims.

Other POWERGRID Vishram Sadans are under construction at KGMU, Phase-II (Lucknow), GMC (Guwahati), RIMS (Ranchi), DMCH (Darbhanga), NIMHANS (Bengaluru), SSGH (Vadodara) and MKCG (Behrampur). These patient-support infrastructure projects are likely to be completed within next two years and are expected to provide relief to the patients undertaking treatment in these hospitals and their attendants, said the company.