In the financial year 2023-24, Bosch Limited focused on a broad range of corporate social responsibility (CSR) activities aimed at addressing key areas such as skill development, healthcare, education, and environmental sustainability. These initiatives aligned with the company’s objective of fostering societal impact, with a particular focus on supporting underserved communities and promoting sustainable practices across various sectors. Through these efforts, Bosch worked toward contributing to social upliftment and environmental conservation, while emphasizing inclusivity and long-term positive outcomes.
Focus on Skill Development
Empowering Vulnerable Communities:
Bosch Limited’s CSR initiatives in 2023-24 prioritized skill development, benefiting 20,694 individuals through various training programs. This included specific programs targeting Youth with Disabilities and members of the LGBT*IQ community. The company reported a 60 percent placement rate for these initiatives, with 54 percent of the beneficiaries being women. These efforts were designed to enhance employability skills and create opportunities for marginalized groups.
Environmental Sustainability Efforts
Conservation and Carbon Footprint Reduction:
The company’s environmental sustainability initiatives in 2023-24 included measures like afforestation, water conservation projects, and the establishment of renewable energy systems. These actions aimed to reduce the environmental impact and support conservation efforts in various regions. Bosch also focused on lake rejuvenation and tree plantation drives, contributing to a greener environment.
Improving Healthcare Access
Mobile Medical Units and Health Infrastructure:
Bosch Limited’s healthcare-related CSR activities included the deployment of Mobile Medical Units (MMUs) across urban, rural, and remote areas. These units provided primary healthcare services to underserved populations. Additionally, Bosch supported the upgrade of government health centers, including the construction of medical laboratories and the installation of infrastructure to enhance healthcare delivery in targeted areas.
Supporting Education and School Infrastructure
Enhancing Learning Environments:
Bosch’s education-related CSR efforts in 2023-24 focused on improving infrastructure in Anganwadis and schools. Initiatives included building school toilet blocks, installing reverse osmosis (RO) plants for safe drinking water, and supporting STEM education through the distribution of learning kits. The company also facilitated mid-day meal programs and value-based education, benefiting a significant number of students.
Disaster Relief and Community Development
Support for Communities in Need:
In response to natural disasters, Bosch provided relief to 920 families affected by floods and cyclones in Tamil Nadu. The company’s broader community development programs aimed at promoting socio-economic improvement through training on livelihood skills, capacity-building initiatives, and facilitating access to government schemes.
Employee Engagement Through Volunteering
Contributing to Social Causes:
Bosch’s employee volunteering initiative, ‘Act of Kindness,’ saw participation from 861 employees, contributing over 10,500 hours to various social activities. The company reported that these efforts benefited over 60,000 people, aligning with its CSR goals of fostering community well-being.
Financial Details of CSR Spending in 2023-24
Bosch Limited’s net profit for the year 2023-24 was reported at Rs. 1,123.5 crore, resulting in a CSR obligation of Rs. 22.47 crore as per section 135 of the Companies Act. The company spent a total of Rs. 23.39 crore on CSR activities, exceeding the mandated requirement. This spending covered various projects and included expenses related to impact assessments and administrative overheads.
| Key Fact | Details |
|---|---|
| Total CSR Spending | Rs. 23.39 crore |
| Net Profit (2023-24) | Rs. 1,123.5 crore |
| CSR Obligation | Rs. 22.47 crore (2% of net profit as per Companies Act) |
| Excess CSR Spending | Rs. 0.92 crore above the mandated requirement |
| Number of Beneficiaries | 222,898 individuals reached through various CSR initiatives |
| Focus Areas | Skill development, healthcare access, education support, environmental sustainability |
| Skill Development Beneficiaries | 20,694 individuals, including Youth with Disabilities and LGBT*IQ community members |
| Placement Rate in Skilling Programs | 60% |
| Environmental Impact | 100,000 trees planted, lake rejuvenation, solar energy installations |
| Healthcare Outreach | 17,804 people served through Mobile Medical Units, supported health centers in rural areas |
| Education Support | Infrastructure improvements in schools and Anganwadis, STEM kits distributed to students |
| Employee Volunteering | 861 volunteers contributing 10,500+ hours through 110+ activities |
| Disaster Relief Efforts | Support provided to 920 families affected by floods and cyclones in Tamil Nadu |
Key Impact Areas and Beneficiaries
Skill Development Initiatives:
- Programs such as the BRIDGE Foundation focused on enhancing employability for over 15,000 youth, including those from vulnerable groups.
- Additional training programs for persons with disabilities (PWDs) and LGBTQ+ community members aimed at increasing their self-sufficiency.
Environmental Efforts:
- Afforestation projects led to the planting of over 100,000 trees, contributing to environmental conservation in multiple districts.
- Other efforts included the maintenance of mini-forests and partnerships for community-based conservation.
Healthcare Services:
- Mobile Medical Units served 17,804 individuals, while improvements to healthcare facilities supported primary care access in rural areas.
Educational Support:
- STEM education programs, mid-day meals, and infrastructure upgrades positively impacted over 2,000 students, providing a better learning environment.
You Learn
Bosch Limited’s CSR activities in 2023-24 aimed to create a balanced impact across various social and environmental aspects. Through a combination of skill development, education, healthcare support, and environmental projects, the company worked toward its goal of contributing to societal well-being and sustainable development. These initiatives reflect Bosch’s ongoing focus on aligning its business objectives with community needs, maintaining a role as a corporate entity involved in social responsibility.
