Funds allocated are fully utilized though, because of lower profitability during the last 2-3 years the CSR budget has seen a substantial decrease.
NEW DELHI (India CSR): Maruti Suzuki India Limited spent Rs. 100.7 Crore on Corporate Social Responsibility (CSR) projects in FY 2021-22, utilising the full budget for the purpose. Total Corporate Social Responsibility (CSR) spending for the year was calculated at 2.67% of its net profit.
The prescribed CSR expenditure of Maruti Suzuki for the financial year 2021-22 was Rs. 96.12 Crore.
The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there is no unspent CSR amount for the year requiring a transfer to a Fund specified in Schedule VII to the Companies Act or special account in compliance with the provision of sub-section (6) of Section 135 of the said Act.
The Company undertakes Corporate Social Responsibility (CSR) initiatives in the areas of road safety, skill development and community development in alignment with the national development priorities.
The CSR program continues as approved by the Board. Funds allocated are fully utilized though, because of lower profitability during the last 2-3 years the CSR budget has seen a substantial decrease.
The hospital and school in Gujarat are functioning well and the residents of that area are very satisfied with these new facilities. The emphasis on road safety continues.
The Company in partnership with the philanthropic arm of Zydus Group of hospitals, Ahmedabad has set up a 50-bed multi-specialty hospital in Sitapur, Gujarat as a part of its CSR program. Over 25,000 people from 25 nearby villages availed of healthcare services from this hospital in FY 2021-22.
The Company has set up a school in Sitapur, Gujarat, in partnership with Podar Education Network. Its primary wing has been made operational since April 2021. 150 children from nearby local communities are studying in the school.
The Company supports 69 Industrial Training Institutes (ITIs) across the country to impart vocational training. The Company adopted 30 ITIs across various states and over 6,800 students were trained in 2021-22.
The Company’s CSR policy aims to create a sustainable impact in the local community and society at large. As a policy, the company’s CSR activities focus on strategic areas including community development, road safety, skill development and response to COVID-19.
The Company’s CSR activities are guided by the CSR Committee and all the projects are regularly monitored and reviewed by the Committee for their impact on the beneficiaries.
Community development projects are undertaken in 26 villages around the Company’s facilities in Haryana (Gurugram, Manesar and Rohtak) and Gujarat. The initiatives are focused on health, education, water and sanitation, and common community infrastructure.
