MUMBAI: Bajaj Auto Ltd. (BAL), a sound and profitable global two-wheeler and three-wheeler manufacturing company, has spent Rs.95 Crores towards various Corporate Social Responsibility (CSR) programmes during the year 2016-17 which is 2.0% of the average net profit of Rs 4,745.42 Crore of 3 preceding years as specified in the Companies Act, 2013., Annual Report 2016-17 revealed.
It is worth mentioning that, BAL spent Rs. 86.72 Cr on CSR during the year 2015-16, however Rs. 86.33 Cr was spent during the year 2014-15, Since 2014-15 was the first year of applicability of section 135 of the Companies Act, 2013.
In addition to above, Bajaj Group implements many CSR initiatives of substantial value through its Group Charitable Trusts operating at various locations in the country. Major initiatives that continued and/or that were taken up anew by the Bajaj Group., report said.
The Corporate Social Responsibility (CSR) activities of Bajaj Group are guided by the vision and philosophy of its Founder, late Jamnalal Bajaj, who embodied the concept of Trusteeship in business and common good, and laid the foundation for ethical, value-based and transparent functioning.
A detailed CSR Policy was framed by the Company on 14 May 2014, with approvals of the CSR Committee and Board of Directors.
A Committee of the directors, titled ‘Corporate Social Responsibility Committee’, was constituted by the Board at its meeting held on 28 March 2014, with the following members:
- Rahul Bajaj, Chairman
- Nanoo Pamnani
- Rajiv Bajaj
- Pradeep Shrivastava (appointed w.e.f 31 January 2017)
The Bajaj Group believes that the true and full measure of growth, success and progress lies beyond balance sheets or conventional economic indices. It is best reflected in the difference that business and industry make to the lives of people.
Through its social investments, Bajaj Group addresses the needs of communities residing in the vicinity of its facilities, taking sustainable initiatives in the areas of health, education, environment conservation, infrastructure and community development, and response to natural calamities.
For society, however, Bajaj is more than a corporate identity. It is a catalyst for social empowerment. It is the reason behind the smiles that light up a million faces. Its goodwill resonates in the two simple words that live in the collective consciousness of Indians-Hamara Bajaj.
CSR Guiding Principles
The Bajaj Group believes that social investments should:
- Benefit generations: The Company believes in ‘investment in resource creation’ for use over generations. The Company tries to identify sustainable projects which will benefit the society over long periods.
- Educate for self-reliance and growth: To usher in a growth-oriented society and thereby a very strong and prosperous nation, by educating each and every Indian.
- Promote health: The Company believes good health is a pre-requisite for both education and productivity.
- Encourage for self-help: To guide and do hand holding for self-help, individually and collectively to create excellence for self and for the team.
- Be focused: The Company believes that activities should be preferably focused around locations where the Company has a presence and hence can effectively guide, monitor and implement specific projects.
- Target those who need it most: Care for sections of society, which are socially and economically at the lowest rung, irrespective of their religion or caste or language or colour.
- Sustain natural resources: The Company encourages balanced development and ensures least adverse impact on the environment-Growth with Mother Nature’s-blessings