Indian pharmaceuticals major Lupin Limited has spent Rs 34.2 cr on Corporate Social Responsibility (CSR) programmes during FY 2019-20.
“Pursuant to the provisions of section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, during the year the Company ought to have spent Rs. 55.51 crore on CSR activities. The actual CSR spend was Rs. 34.2 crore, which is 1.23% of the average net profit of the Company for the last three years calculated in accordance with the provisions of Section 198 of the Companies Act, 2013, .”, the company annual report said.
The companies broadly undertakes the following CSR activities:
- Economic Development
- Social Development
- Rural Infrastructure Development
- Natural Resource Management
- Learn and Earn programme and
- Disaster Relief and Mitigation
The company aims to continuously increase its CSR spend and is consistently exploring new areas/activities, particularly deeper sustainable projects, to accelerate the spending. During FY 2020-21 will also make CSR spend towards relief efforts for mitigating the Covid-19 pandemic, including contribution to the PM CARES Fund.
Corporate Social Responsibility (CSR) with a holistic approach, the Company’s CSR arm Lupin Human Welfare and Research Foundation focuses on the four thematic areas Economic, Social, Infrastructure Development and Natural Resource Management (NRL).
Headed by Sita Ram Gupta, Lupin Foundation has a presence in 4546 villages located in 63 blocks of 23 districts spread across nine states in India. It operates through 20 centers. Developing rural economy includes a family centered approach and initiation of actions to enable the upliftment of the poor. Other areas like disaster relief and mitigation were taken up with a view to attain sustainable development.
The Corporate Social Responsibility (CSR) committee comprises Manju D Gupta, Chairperson (Non-Executive Director; Dr. Kamal K Sharma (Non-Executive Director), Vinita Gupta (Executive Director), Nilesh Deshbandhu Gupta (Executive Director) and Dileep C Choksi (Independent Director).
The Company regularly conducts third party impact assessments of its CSR initiatives through qualitative feedbacks collected from the beneficiaries of projects. Several projects are undertaken in partnership with government and semi-government agencies that have their own monitoring mechanisms and impact assessment systems. A robust internal M & E system has been in operation.