NEW DELHI (India CSR): Centum Electronics Limited, in its unwavering commitment to social responsibility, has taken significant strides in enhancing education, literacy, and healthcare for children, particularly focusing on those with disabilities. This dedication aligns with the stipulations of Section 135 of the Companies Act, 2013, and the Corporate Social Responsibility (CSR) Rules, 2014, along with Schedule VII of the Companies Act, 2013. The company has established a comprehensive Corporate Social Responsibility Policy, reflecting its deep-rooted commitment to societal betterment.
Centum Electronics Limited, an Indian company, specializes in the design and manufacture of advanced electronics. Renowned for its expertise in aerospace, defense, telecommunications, and industrial sectors, Centum is committed to innovation and quality, while actively engaging in corporate social responsibility, particularly in education and healthcare.
Centum Electronics Limited actively engages in Corporate Social Responsibility, focusing on enhancing education, literacy, and healthcare, especially for children and those with disabilities. Through partnerships and dedicated initiatives, it supports marginalized communities, aligning with its commitment to social betterment and sustainable development.
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Strategic Approach to CSR
Annual Integration and Monitoring
Centum Electronics embeds its CSR initiatives into its core business plan, showcasing these endeavors at its annual planning and budgeting meet. This integration ensures that all projects align with the company’s strategic direction and values. Each initiative is rigorously assessed and monitored quarterly, with targets and budgets meticulously evaluated. This systematic approach allows for mid-course corrections as needed, ensuring maximum impact and alignment with the company’s objectives.
Impact Measurement
To gauge the effectiveness of its CSR efforts, Centum Electronics conducts social satisfaction audits periodically. These audits provide valuable insights into the impact of the company’s initiatives, enabling continuous improvement and ensuring meaningful contributions to society.
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Governance and Stakeholder Engagement
Board and Management Involvement
While no specific director is nominated for CSR, the CSR Committee of the Board drives these initiatives. The relevant policies are administered by Departmental Heads, who report directly to the company’s management, ensuring cohesive execution and alignment with corporate goals.
Consultation and Partnerships
Centum Electronics places significant emphasis on stakeholder consultation in identifying and shaping its CSR programs. In the past year, the company has collaborated with renowned organizations like Akshaya Patra and Narayana Hrudayalaya, and established a Memorandum of Understanding with the Art and Photography Foundation for the promotion of art.
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Key CSR Initiatives and Impact
Supporting the Marginalized
Centum Electronics, through its CSR activities, extends support to vulnerable and marginalized communities, including the specially-abled. These initiatives have successfully delivered healthcare to economically challenged groups and supported education for children with disabilities.
- Promoting Education: Partnership with Mathru Educational Trust for the Blind School, benefiting 187 persons, with 100% from vulnerable groups.
- Healthcare for the Weaker Section & Children: Collaboration with Narayana Hrudayalaya Charitable Trust, aiding 110 individuals, focusing entirely on marginalized groups.
- Meal Distribution: Engaging with The Akshaya Patra Foundation, distributing meals to 1,333 beneficiaries, 60% of whom belong to marginalized sections.
Other notable collaborations include proVISION ASIA and Prerana Resource Centre, among others, furthering the company’s reach and impact in various social sectors.
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Financial Commitment and Transparency
CSR Budget and Expenditure
For the financial year, Centum Electronics allocated a total CSR obligation of Rs. 53,00,102. The total amount spent for the year amounted to Rs. 53,01,000, demonstrating the company’s commitment to fulfilling its social responsibility pledges in full.
CSR Committee Leadership
The CSR Committee, comprising Mr. Thiruvengadam Parthasarathi (Chairman), Dr. Swarnalatha Mallavarapu, and Ms. V Kavitha Dutt, oversees these initiatives. The committee convened on May 24, 2022, with full attendance from all members, underscoring the importance placed on CSR at the highest levels of the organization.
