By Rusen Kumar
MUMBAI: UPL Limited, a global generic crop protection, chemicals and seeds company, headquartered in India (Mumbai) has spent 9.7 per cent on Corporate Social Responsibility (CSR) programmes of its average net profit for last three financial years which was Rs. 244.60 crores, reflecting in the Annual Report of 2015-16.
The Company is required to spend Rs. 4.89 crores towards CSR as per prescribed CSR Expenditure (2% of the profit). UPL has spent Rs.23.79 crores in the reviewed financial year, which is 9.7 per cent of its profit for the year.
All CSR projects undertaken in 6 key focus areas are according to company’s CSR policy and are in line with Schedule VII of the Companies Act 2013.
The Composition of the CSR Committee: Sandra R. Shroff (Chairman), Pradeep Goyal (Independent Director) and Vikram R. Shroff (Director).
“UPL Limited and our subsidiaries (together constituting the UPL Group), take initiative to contribute to harmonious and sustainable development of the society through all our business activities that we carry out in various countries across the globe. We recognize that business enterprises are economic organs of society that draw on various societal resources for its functioning and growth, It is our core belief therefore that a company’s performance must be measured not only by its bottom line but also with respect to the social contributions made by the company while achieving its financial goals.”, report said.
To be a catalyst for a more equitable and inclusive society by supporting long term sustainable transformation and social integration.
- Implementing need based projects through participatory approach.
- Focusing on building capacity to make community SelfReliance
- Developing partnership.
- Transferring knowledge
- Excellence and
“Our CSR initiative is called as UPL Pragati which means PROGRESS and is in line with our stated Vision. Our CSR activities will focus not just around our Factory and offices, but also in other geographies based on the needs of the communities.”, UPL Limited said.
The Six CSR focus areas for community to progress are:
- Agriculture Development
- Employability & Entrepreneurship
- Education & Empowerment
- Environment & Nature Conservation
- Health & Sanitation
- National & Local Area needs
The CSR programmes/projects are undertaken by in-house CSR team/UPL promoted foundation. Company has a dedicated CSR team with relevant expertise and experience. As a part of broader engagement and to utilize competency, UPL also partners with and supports various Government organizations, NGOs and CBOs to work on specific area based community needs.