MUMBAI (India CSR): Amidst India’s remarkable economic resilience and projected GDP growth, JSW Holdings Limited, a prominent Core Investment Company (CIC), is making significant strides in corporate social responsibility (CSR), demonstrating a deep commitment to inclusive growth and equitable development. The company’s recent Annual Report for FY 2024-25 highlights its proactive approach to social betterment, consistently surpassing its statutory CSR obligations through strategic and impactful initiatives.
A Philosophy Rooted in Integrity and Inclusivity
JSW Holdings’ CSR philosophy is anchored in integrity, transparency, and accountability, viewing inclusive growth as essential for a value-based and empowered society. The company believes in continuous and purposeful engagement with society, operating with clarity and effectiveness. This commitment is deeply embedded in its values, guiding all spheres of its activity, including responsible investment in companies where Environmental, Social, and Governance (ESG) principles are central to operations. The company also actively promotes diversity and inclusion, ensuring equal opportunity and a non-discriminatory work environment for all employees, regardless of gender, religion, caste, race, age, or physical ability.
Robust Governance and Oversight
The company ensures meticulous oversight of its CSR activities through a dedicated Corporate Social Responsibility (CSR) Committee. As of March 31, 2025, this committee comprises key directors, including N. K. Jain (Chairman), K. N. Patel, Anuradha Bajpai, and Manoj Kr. Mohta (Whole-time Director, CEO & CFO). During FY 2024-25, the CSR Committee met twice, demonstrating regular engagement.
The committee’s terms of reference are comprehensive, encompassing:
- Formulating and recommending the CSR Policy to the Board, including projects aligned with Schedule VII of the Companies Act, 2013.
- Recommending the expenditure for each activity and ensuring conformity with the Act’s purview.
- Approving the Annual Report on CSR activities and providing reasons for any expenditure shortfalls.
- Monitoring the CSR policy periodically.
- Establishing a transparent monitoring mechanism for the implementation of CSR projects and programs.
Strategic CSR Initiatives and Key Focus Areas
JSW Holdings carries out its social development initiatives primarily through the JSW Foundation, ensuring effective planning and implementation. The foundation’s key focus areas reflect a holistic approach to community well-being, addressing critical needs in:
- Health and Nutrition: Including support for organ transplant cases and St. Elizabeth Hospital, which received Rs 50.00 Lakh and Rs 51.50 Lakh respectively in FY 2024-25. In the previous year, support for SRCC Children Hospital’s “Hole in the Heart” program totaled ₹49.74 Lakh.
- Education and Skill Development: Through initiatives like the JSW Udaan Scholarships, which provided support to 88 underprivileged children in FY 2023-24 to pursue academic excellence and career opportunities, amounting to Rs 78.51 Lakh.
- Water, Environment & Sanitation: With an emphasis on improving sanitation through projects like Suvidha Centres, which received Rs 60.00 Lakh in FY 2024-25.
- Agri-livelihoods: Supporting sustainable practices.
The company’s engagement with local communities is continuous and purposeful, aiming to create a value-based society and promote the idea of shared growth.
Financial Stewardship in CSR
JSW Holdings has consistently demonstrated strong financial commitment to its CSR endeavors. As per Section 135(5) of the Companies Act, 2013, the average net profit of the company was Rs 8,069.45 Lakh, making the 2% CSR obligation Rs 161.39 Lakh.
For the financial year ended March 31, 2025, JSW Holdings spent Rs 170.00 Lakh on CSR projects, which includes an administrative cost of Rs 8.50 Lakh for project management. This expenditure represents an excess amount of Rs 8.61 Lakh compared to the statutory obligation. In the previous fiscal year (FY 2023-24), the company spent Rs 135.00 Lakh, aligning perfectly with its required CSR expenditure for that period. The company did not have any shortfall from previous years, indicating consistent adherence to its CSR commitments.
Impact and Beneficiaries
The CSR projects are designed to benefit the underprivileged and those belonging to vulnerable or marginalized sectors of society. For instance, in FY 2024-25, 128 cancer patients received prosthetic support through Tata Memorial, and 52 individuals benefited from the SRCC Hospital’s “Hole in the Heart” support. The JSW Udaan Scholarship program supported 88 students. These initiatives underscore the company’s focus on tangible improvements in the lives of those in need.
Transparency and Compliance
JSW Holdings maintains a high standard of compliance with regulatory matters and internal policies for its CSR activities. All CSR initiatives are approved by the CSR Committee and periodically reviewed. The CSR policy and projects approved by the Board are disclosed, ensuring accessibility and transparency. The company also utilizes a whistle-blower mechanism to enhance transparency and accountability, allowing employees and directors to report concerns about unethical behavior, fraud, or policy violations.
Furthermore, the Annual Report provides a detailed Business Responsibility and Sustainability Report (BRSR), outlining the company’s performance against National Guidelines on Responsible Business Conduct (NGRBC) Principles. While some environmental parameters (Principle 6) are noted as “not material” due to the company’s lending business, it emphasizes its commitment to sustainable investment and ensures borrowers engage in sustainable business practices. The company’s policies on ethics, bribery, and corruption, along with a Code of Conduct for Directors and Senior Management, further reinforce its commitment to ethical and transparent practices.
Outlook for Sustainable Development
JSW Holdings expects sustainable growth from its investee companies, which will further enhance shareholder value. Its strong macro-economic profile, coupled with a robust internal control system and risk management framework, positions the company to continue its impactful CSR journey. The company’s continued focus on government infrastructure spending and the overall growth of the Indian steel industry, where JSW Steel Limited is a major player, provides a positive backdrop for its investment and social development efforts.
The company’s dedication to its CSR policy, along with its commitment to financial prudence and ethical governance, reinforces its role as a responsible corporate citizen contributing significantly to India’s transformative growth path.
(India CSR)
