CSR: IndianOil Spends Over Rs. 457 Crore in Community Development in 2023-24

IndianOil’s Sustainability and Corporate Social Responsibility (S&CSR) vision is deeply rooted in its operations.

NEW DELHI (India CSR): During the financial year 2023-24, IndianOil allocated a CSR budget of Rs. 422.42 Crore, which is 2% of the average profit of the previous three years, adjusted for excess spent in the previous year. Demonstrating its strong commitment to CSR, the company spent Rs. 457.71 Crore, exceeding the budget to ensure the continuity of its planned CSR activities and flagship projects. This expenditure resulted in a carryover of Rs. 35.29 Crore for future years.

IndianOil, a premier energy major in India, is renowned for its commitment to securing the nation’s energy future while fostering socio-economic growth. Guided by the ethos of “Nation-First” and a corporate vision that emphasizes nurturing both the environment and the community, IndianOil’s CSR initiatives aim to enhance the quality of life for local communities and contribute to the nation’s prosperity. Its recent annual report provides a comprehensive overview of IndianOil’s CSR spending and activities for the financial year 2023-24, highlighting the company’s dedication to responsible and sustainable business practices.

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A Commitment to Societal Upliftment and Environmental Stewardship

Exceeding the Budget

IndianOil’s decision to exceed its CSR budget underscores its dedication to fostering socio-economic growth and enhancing the quality of life for local communities. The allocation and expenditure details reflect the company’s strategic approach to responsible and sustainable business practices.

Major CSR Thrust Areas

Health and Nutrition

IndianOil’s CSR initiatives prioritize several thematic areas, with a significant portion of the budget, ₹290.03 Crore (63.36% of total CSR expenditure), dedicated to health and nutrition. These efforts align with guidelines set by the Department of Public Enterprises (DPEs) for CSR expenditure by Central Public Sector Enterprises (CPSEs). IndianOil’s healthcare initiatives include the Intensive TB Elimination Programme, which has expanded to several states and provided essential diagnostic equipment and ambulances, benefiting nearly one lakh individuals and identifying over 14,000 positive TB cases.

Cancer Care Contributions

Addressing the rising incidence of cancer, IndianOil has made substantial contributions to cancer care. In collaboration with Tata Trusts and various Tata Memorial Centres, the company provided cancer care equipment to hospitals in high-risk areas. These contributions are expected to benefit around one lakh patients annually.

Innovative Healthcare Solutions

IndianOil has supported pioneering healthcare initiatives, such as the aerial delivery of medical supplies via drones to remote areas in Kandhamal district, Odisha, serving over 25,000 people. Under Project Drishti, the company provided AI-powered Smart Vision Glasses to over 800 visually impaired individuals. Additionally, a Neonatal Intensive Care Unit (NICU) on Wheels was introduced in the aspirational district of Narmada, Gujarat, benefiting over 600 newborns annually and significantly reducing neonatal mortality rates.

A Year of Achievements: Highlights from 2023-24

• Health and Nutrition: In alignment with DPE guidelines, IndianOil allocated Rs. 290.03 Crore (63.36% of total CSR expenditure) to health and nutrition initiatives, demonstrating its commitment to improving public health outcomes.
• Aspirational Districts: Recognizing the need to uplift aspirational districts, IndianOil invested Rs, 47.26 Crore in 40 such districts, contributing to their socio-economic development.
• Community Development Projects: The company undertook 600 community development projects nationwide, impacting countless lives and fostering positive change.

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Community Development Projects

Empowering Communities

IndianOil’s CSR efforts extend beyond healthcare, encompassing a wide range of community development projects. During 2023-24, the company undertook approximately 600 projects nationwide, positively impacting countless stakeholders. These initiatives include education, skill development, rural development, environmental sustainability, and the empowerment of women and socially/economically disadvantaged groups.

Parivartan and Nayi Disha Initiatives

IndianOil’s flagship social upliftment programmes, ‘Parivartan – Prison to Pride’ and ‘Nayi Disha – Smile for Juvenile,’ focus on rehabilitation and reintegration of prison inmates and juveniles. In 2023-24, these initiatives reached nearly 130 prisons and correctional facilities across 23 states and six Union Territories, impacting over 6,300 inmates. The success of these programmes was highlighted when teams from Yerawada Central Jail, Pune, and Children Observation Home, Bhopal, won gold medals at the FIDE’s 3rd Intercontinental ‘Chess for Freedom’ online championship.

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Sports Development Initiatives

Nurturing Sporting Talent

IndianOil is also committed to empowering lives through sports. The company’s sports scholarships support over 200 young athletes, with a significant portion dedicated to female athletes. In March 2024, IndianOil signed an MoU with the National Sports Development Fund (NSDF) for the ‘IndianOil Shakti’ programme, aimed at empowering 30 talented young girls in athletics. This initiative has already seen success, with one athlete, Ankita, being selected for the Paris Olympics 2024.

Supporting Para-Athletes

In October 2023, IndianOil entered into an agreement with the Paralympic Committee of India (PCI) to support the Indian Para contingent at major international events, including the Paris Paralympics 2024. The company welcomed Sheetal Devi, a world champion in compound archery, as the first para-athlete and the youngest member of its sports family.

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Key Facts: CSR 2023-24

Here is a table summarizing the key facts about IndianOil’s CSR spending for the financial year 2023-24:

(Copyright@India CSR)