The Company contributed CSR amount of Rs. 6.02 Crores in PM Cares fund for COVID-19 pandemic relief
NEW DELHI: Two percent of average net profit of Acharya Balkrishna led Patanjali Ayurved Limited (PAL) as per section 135(5) stood at Rs. 10.23 Crore during the year 2020-21. The Company has contributed Corporate Social Responsibility (CSR) amount as per Section 135 of the Companies Act, 2013 read with schedule VII.
During the Financial Year 2020-21 Company has registered a turnover of Rs. 9783.81 crores and profit after tax (PAT) of Rs. 484.56 crores as against the profit of Rs. 424.72 crores in the previous Financial Year.
The Company contributed CSR amount to Educational Institution Acharya Kulam, affiliated to CBSE Board Rs. 4.21 Crores and Rs. 6.02 Crores in PM Cares fund for COVID-19 pandemic relief. CSR amount required to be spent as per Section 135 of the Companies Act, 2013 read with Schedule VII thereof by the Company during the year is Rs.1023 lakh.
For CSR activities, company has contributed Rs. 421 lakh out of the above to Acharya Kulam, affiliated to CBSE Board, educational institute of Patanjali Yogpeeth Trust, a non-profit organisation and related party, which impart modern education and Rs. 602 lakhs in PM cares fund.
Patanjali Ayurved Limited (PAL), one of the fastest growing conglomerate in the field of FMCG products, ayurvedic and medicinal products, food products, breakfast cereals, dairy products, edible oil, packaged water, beverages, cattle feed, healthcare.
PAL also has a prominent presence in philanthropic and social activities like yoga shivir, charitable medical facilities, educational institutes etc.
Section 135 of the Companies Act, 2013 and the relevant Rules, 2014 have been amended from time to time, specially, the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 vide notification dated 22nd January, 2021 and various circulars issued time to time in the year 2020 and 2021 making it necessary to insert the amendments in the Policy, accordingly the CSR Policy has been amended after the end of the Financial Year, the company said.
The amended CSR Policy has been duly approved by the Board of Directors with a view to provide a mechanism for meeting its social responsibility in an effective manner and to provide optimum benefits to various deserving sections of the society.
Main objectives of the company’s CSR Policy are:
Improving nutrition awareness of Communities.
Making India an ideal place for the growth and development of Ayurveda and a prototype for the rest of the world.
To protect the environment, make the business as an environment friendly and to ensure environment sustainability.
To provide modern education through Gurukul System.
To reduce the stress and duress in society arising out of calamities, pandemic, etc.
PAL has significant presence in both food and non-food product categories with main thrust on herbal and health oriented products. PAL has exhibited in rapid expansion of manufacturing facilities, product launches and setting its competence up of distribution network.
While the turnover of PAL in the first year (2007-08) after incorporation was just Rs. 51 crores, it has reached a turnover of Rs. 9783.81 crores in the financial year 2020-21 within an approximate span of a decade which is a robust achievement.
Composition of the CSR Committee
Rakesh Mittal, Chairman (Non-Executive Director)
Ajai Kumar Arya, Member (Independent Director)
Dr. Sumedha, Member (Independent Director)
