The jump from Rs. 9.495 crore in 2022-23 to Rs. 13.79 crore in 2023-24 highlights its growing dedication to CSR.
MUMBAI (India CSR): Sarda Energy & Minerals Limited (SEML) has stepped up its Corporate Social Responsibility (CSR) efforts. The company spent Rs. 13.79 crore in FY 2023-24, exceeding its required Rs. 13.74 crore. This marks a significant rise from Rs. 949.50 lakh (Rs. 9.495 crore) spent in FY 2022-23. SEML’s commitment to community welfare and sustainable development shines through these efforts.
The CSR initiatives focus on education, healthcare, infrastructure, arts, culture, sports, and livelihoods. SEML targets marginalized groups, including children, women, the elderly, and people with disabilities. The company operates development projects in aspirational districts like Rajnandgaon and Narayanpur in Chhattisgarh.
Key CSR Highlights for FY 2023-24
SEML’s CSR spending aligns with Section 135 of the Companies Act, 2013. Here’s a breakdown:
Table 1: CSR Obligation Details
| Particulars | Amount (Rs. in Crore/Lakh) |
|---|---|
| Average Net Profit (Section 135(5)) | Rs. 686.96 Crore |
| 2% of Average Net Profit | Rs. 1,373.92 Lakh |
| Surplus from Previous CSR Projects | NIL |
| Amount Required to Set Off | NIL |
| Total CSR Obligation | Rs. 1,373.92 Lakh |
Table 2: CSR Spending Breakdown
| Particulars | Amount (Rs. in Lakh) |
|---|---|
| Amount Spent on CSR Projects | Rs. 1,359.34 |
| Administrative Overheads | Rs. 19.57 |
| Impact Assessment | NIL |
| Total Amount Spent | Rs. 1,378.91 |
Table 3: CSR Amount Spent vs. Required
| Particulars | Amount (Rs. in Lakh) |
|---|---|
| 2% of Average Net Profit | Rs. 1,373.92 |
| Total Amount Spent | Rs. 1,378.91 |
| Excess Amount Spent | Rs. 4.99 |
| Surplus from Previous Years | NIL |
| Amount Available for Set-Off | Rs. 4.99 |
SEML did not opt to set off the excess Rs. 4.99 lakh for future years. There were no unspent CSR funds, showcasing full compliance.
CSR Projects Making an Impact
SEML invested Rs. 2.88 crore in Rajnandgaon and Narayanpur in 2023-24. These projects benefit vulnerable communities. Here’s how:
- Education: 1,235 beneficiaries, 46% from marginalized groups.
- Healthcare: 26,332 beneficiaries, 49% vulnerable.
- Infrastructure: 82,359 beneficiaries, 74% marginalized.
- Arts, Culture & Sports: 28,932 beneficiaries, 45% vulnerable.
- Livelihoods: 435 beneficiaries, 21% marginalized.
SEML’s CSR Vision
SEML’s CSR policy drives sustainable growth. It tackles social, environmental, and economic challenges. The company supports government efforts in education, healthcare, rural development, and more. With a turnover of Rs. 2,733.45 crore and net worth of Rs. 3,516.34 crore, SEML remains a leader in impactful CSR.
(India CSR)
