Because of the losses in the preceding three years the Jindal Steel & Power Limited’s (JSPL) is not required to spend any amount on corporate social responsibility (CSR) as per the provision of section 135 of the Companies Act, 2013. However, the company has voluntarily spent an amount of over Rs. 16 crores as CSR expenses. During the year 2020-21, the company’s CSR programme benefited around 20 lakh people, the company said.
JSPL direct contribution towards community development projects during the financial year 2019-20 was at Rs. 26.86 Crores.
As a responsible partner, Jindal Steel & Power Ltd (JSPL) through its CSR arm JSPL Foundation, continues to support the government and the community in minimising the challenges posed by the COVID-19 pandemic. The JSPL Foundation has been focusing on delivering various emergency services for communities during the pandemic.
At JSPL, social responsibility is integral to our business processes and operations, and we drive holistic community initiatives to help address some of the persistent social challenges in the realms of education, healthcare, skill development and empowerment of women. We align our programmes with the Government and other developmental agencies with an objective of bringing about a radical transformation in the lives of the communities and integrating them into the mainstream development process of the country, the company said.
It geographical focus, however, lies in and around business operations in Chhattisgarh, Odisha and Jharkhand.
The Company believes that sustainable community development is essential for harmony between the community and the industry. The Company endeavours to make a positive contribution especially to the underprivileged communities by supporting a wide range of socio-economic, educational and health initiatives
CSR approach
Our approach is to build social capital in the community by facilitating investments based on the partnership and community ownership mode. We promote the concept of ‘leadership with trust’ working with local communities and other stakeholders for ensuring continuous and smooth operations, the company said.
It has been consciously operating under the framework of Triple Bottom Line (TBL), building a system which is compatible with the needs of the environment and the society. This approach of using TBL as a framework with a focus on building synergetic partnerships plays a crucial role in truly building pathways for sustainable development in the regions where it operates.
JSPL reported a contribution of Rs. 6,220 crores to the public exchequer by the way of paying excise duty, customs duty, GST, corporate tax, dividend, and other during the year 2020-21.
In FY 2020-21, JSPL recorded gross revenue of Rs. 37,051 crore and net revenue of Rs. 33,308 crores. Standalone EBITDA at Rs 13,055 crore is reported highest yet, with net profit soaring to Rs. 7,154 crores powered by strong business performance and cost-saving measures.
Shallu Jindal
Mrs. Shallu Jindal is the Chairperson of JSPL Foundation. An accomplished Kuchipudi danseuse and a pioneer of inclusive social development, Mrs. Jindal has been honoured with several awards for her outstanding achievements in the field of Indian classical dance and contribution in the field of art, culture, education and community development. After years of service and dedication, Mrs. Jindal has been able to gather an ocean of trust from more than two million families for JSPL Foundation’s projects, which includes health, education and other quality of life programmes.
