Deepak Fertilisers spends 3.92 Cr on CSR in FY 2015-16

India CSR News Network

MUMBAI:  Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL) has to spent Rs. 3.92 crores on Corporate Social Responsibility (CSR) during the financial year 2015-16- has been revealed in the company’s latest annual report.

For over three decades as a socially responsible Company, Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), has engaged in community work through Ishanya Foundation at Taloja and Pune in Maharashtra and Deepak Foundation in Vadodara in Gujarat. The Ishanya Foundation has been conducting several outreach programmes, in and around Pune and also in villages around Taloja in Panvel Taluka in Raigad District. These programmes are in the areas of women empowerment through vocational training (skill development) and livelihood programmes, health and education.

The underlying objectives are aimed at making people self-reliant through economic and social empowerment, providing employable skills and social entrepreneurship opportunities to youth, women and marginal farmers to ensure livelihood for economic betterment and social development of themselves and their families instilling pride and confidence (in the target population) to take on future challenges.

Health initiatives, farmer support programs, culture and heritage support programs have also formed DFPCL’s ancillary focus areas. Improving the quality and infrastructure in the educational institutions has also been the Company’s priorities.

The Composition of the CSR Committee

Sr. No. Name of Director        Chairman / Member

1. Shri Pranay Vakil               Chairman
2. Smt. Parul S. Mehta          Member
3. Shri S. R. Wadhwa            Member

• Average net profit of the Company for last three financial years: Rs 196.0725 Crore
• Prescribed CSR Expenditure (two percent of the amount as in item 3 above): Rs. 3.92 Crore

Details of CSR spent during the financial year:

a) Total amount to be spent for the financial year: Rs. 3.29 Crore

b) Amount unspent, if any: Rs. 2.2414 Crore

During the year under review, the Company has made consistent efforts to identify the projects for its CSR initiatives and accordingly as one of its major initiative the Company has decided to set up an ITI in Taloja near its factory for imparting vocational skills and training for woman and children. The shortfall in the spend during the year under report and of earlier years is intended to be made good in future, substantially in the aforesaid ITI and also in suitable projects within the Company’s CSR policy upon identification of the same.

The CSR Committee confirms that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the Company.

(Source: Deepak Fertilisers And Petrochemicals Corporation Limited, Annual Report-2015-16)