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Home Corporate Social Responsibility

CSR: Sarda Energy & Minerals Spends Rs. 13.79 Crore in FY 2023-24 in Social Development

SEML’s CSR policy drives sustainable growth. It tackles social, environmental, and economic challenges.

India CSR by India CSR
in Corporate Social Responsibility
Reading Time: 3 mins read
CSR: Sarda Energy & Minerals Spends Rs. 13.79 Crore in FY 2023-24 in Social Development

CSR of Steel and Mining Company

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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:

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Table 1: CSR Obligation Details

ParticularsAmount (Rs. in Crore/Lakh)
Average Net Profit (Section 135(5))Rs. 686.96 Crore
2% of Average Net ProfitRs. 1,373.92 Lakh
Surplus from Previous CSR ProjectsNIL
Amount Required to Set OffNIL
Total CSR ObligationRs. 1,373.92 Lakh

Table 2: CSR Spending Breakdown

ParticularsAmount (Rs. in Lakh)
Amount Spent on CSR ProjectsRs. 1,359.34
Administrative OverheadsRs. 19.57
Impact AssessmentNIL
Total Amount SpentRs. 1,378.91

Table 3: CSR Amount Spent vs. Required

ParticularsAmount (Rs. in Lakh)
2% of Average Net ProfitRs. 1,373.92
Total Amount SpentRs. 1,378.91
Excess Amount SpentRs. 4.99
Surplus from Previous YearsNIL
Amount Available for Set-OffRs. 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)


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Tags: CSRCSR of Sarda Energy & MineralsSarda Energy & Minerals
India CSR

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India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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