The Aurobindo Pharma Limited has spent Rs. 48.60 crore during the FY20, which is around 2.6% of the standalone Profit After Tax. In compliance with Section 135 of the Companies Act, 2013, (Corporate Social Responsibility Policy) Rules 2014, the Company has established the Corporate Social Responsibility Committee (CSR Committee).
Out of Total amount of Rs. 98.92 crore available for CSR activities, an amount of Rs. 59.06 crore has been approved during the Financial Year 2019-20 for various CSR activities. Aurobindo Pharma Foundation has spent an amount of Rs. 48.60 crore on CSR activities during the Financial Year 2019-20.
The prescribed CSR funds that could not be spent during the year or previous years have been carried forward for spending on CSR projects. Shortfall in spending the prescribed amounts on CSR projects is mainly due to delay in identification of projects and some of the projects are on-going, the company annual report 2019-20.
The Company has established Aurobindo Pharma Foundation for primarily undertaking CSR Activities. Accordingly, the Company has started CSR Activities under the said foundation. Company has undertaken several activities for Promoting Education, Promoting Preventive Health Care, Eradicating Hunger, Poverty & Malnutrition and Preventive Health Care.
Making Available Safe Drinking Water, Environment Sustainability, and Ecological Balance & Conservation of Natural Resources. Rural sports and Setting up Old Age Homes etc.
Company has undertaken several activities for Promoting Education, Promoting Preventive Health Care, Eradicating Hunger, Poverty & Malnutrition and Preventive Health Care. Making Available Safe Drinking Water, Environment Sustainability, and Ecological Balance & Conservation of Natural Resources. Rural sports and Setting up Old Age Homes etc.
Aurobindo Pharma implements all its Corporate Social Responsibility (CSR) activities through its philanthropic arm, the Aurobindo Pharma Foundation. The Foundation undertakes various activities for the sustainable development of communities around the areas of operations of the Company as well as non-core areas of the Company.
Approximately 6,00,140 individuals have been reached through its CSR activities. Of these, the Company’s COVID-19 relief activities have benefitted 3,79,000 individuals.
As per the Companies Act, 2013, the Company is required to constitute a Corporate Social Responsibility (CSR) Committee of the Board consisting of three or more directors, at least one of whom will be an independent director. The constitution of CSR Committee is as under:
K. Nithyananda Reddy, Chairman
K. Ragunathan, Member
M. Sivakumaran, Member
P. Sarath Chandra Reddy, Member
Savita Mahajan, Member w.e.f. November 2019
The purpose of the Committee is to formulate CSR Policy of the Company and monitor its implementation.
The Foundation is constructing a new cancer Hospital with 2,18,474.50 sq. ft. area for MNJ Institute of Oncology and Regional Cancer Centre at Red Hills, Hyderabad. After completion of the construction of this hospital, many poor cancer patients from Telangana, Andhra Pradesh, border districts in Karnataka and Maharashtra can avail free cancer treatment. More than 2.5 lakh patients will be benefitted.
As part of the Green Belt development initiative, the foundation planted 55,600 plants and provided with 50,000 plastic tree guards in Andhra Pradesh and Telangana. As part of the animal welfare initiative, the Foundation is supporting many Gou shaalas to protect cows in Telangana.
The Company monetarily supported, with Rs. 32.0 Crore, various government initiatives such as Telangana State Disaster Management Authority and Andhra Pradesh Chief Minister Relief Fund, including the Prime Minister Cares Fund, to strengthen India’s fight against the COVID-19 pandemic.
