During the year 2019-20, Cadila Healthcare Ltd has spent Rs. 220.08 million (Rs.22.008 Crore) against Rs. 214.97 million (Rs. 21.97 Crore) towards Corporate Social Responsibility (CSR), being 2% of the average net profits for previous three years, computed as prescribed under the Companies Act, 2013 on education and healthcare, including preventive healthcare and infrastructure development.
The Company has identified disadvantaged, vulnerable and marginalized stakeholders. The Senior Management of the Company also devotes their time and resources to various agencies involved in education and health arena as a part of its CSR. The Company works actively to enhance the employability of youth, leading to income generation and economic empowerment in the marginalized section of the communities, the company’s annual report 2020 said.
The Company has outlined the following thrust areas in the CSR Policy:
(i) Swasthya–Health, Safety and Environment,
(ii) Shiksha and Sodh–Education, Knowledge Enhancement and Research, and
(iii) Saath–Social care, concern and outreach in times of emergencies.
The Board of Directors, on the recommendation of CSR Committee, approved the CSR spending, apart from others, on providing financial support for creating additional infrastructure / renovations and other assistance to Zydus Foundation, a section 8 Company, which runs hospital and medical college.
The said institution provides hospital services to the patients. The medical college provides education and facilities to the medical students. The objectives of the institution include, amongst others, to help the marginalized and economically weaker section people of the society.
Pursuant to section 135 of the Act and the relevant rules, the Board has constituted a Corporate Social Responsibility (CSR) Committee under the Chairmanship of Pankaj R. Patel. The other members of the Committee are Dharmishtaben N. Raval and Dr. Sharvil P. Patel.
The Company is a global pharmaceutical Company with subsidiaries in India and across the world. As on date, the Company has 38 subsidiary Companies, including 25 subsidiaries outside India.
Have you read: CSR: Zydus Medical College and Hospital at Dahod serves rural interiors of Gujarat
