In FY 2020, Dr. Reddy’s Laboratories Limited has contributed Rs. 275.3 million (Rs. 27.53 cr) for community development under Corporate Social Responsibility (CSR) mandate. It is 2.25% of the average net profi ts of the company made during the immediately three preceding financial years.
“We are focusing on specific CSR initiatives that support social development. The implementation of these programs is carried out through various partner organizations. We work primarily in the areas of education, livelihood and health.”, the company said.
The CSR committee consists of three directors, including the two executive directors. The chairman is an independent director. The CSR committee met four times during the year: on 16 May 2019, 29 July 2019, 31 October 2019 and 25 January 2020.
As per Section 135 of the Companies Act, 2013, the company has a board-level CSR committee consisting of Bharat N Doshi (chairman), G V Prasad and K Satish Reddy. The company’s CSR policy provides a constructive framework to review and organize our social outreach programs in health, livelihood and education. During the year, the committee monitored implementation and adherence to the CSR policy, the company said.
In FY 2020, Dr. Reddy’s Laboratories Limited has implemented 182 energy conservation projects across various business units and accrued savings of Rs. 196 million (Rs.19.6 cr). It has also generated 127.15 TJ of energy using biomass/rice husk briquettes, thus eliminating GHG emission by 12,997 tons of CO2e.
“The share of renewable energy in our total energy consumption has also increased.”, the company Annual Report 2019-20 said.
Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. The major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Its major markets include – USA, India, Russia & CIS countries, and Europe.
