As such most of the programs and projects undertaken by Divi’s are through in-house team. the main focus of CSR is communities or villages around the manufacturing sites.
During the year 2019-20, Divis Laboratories Ltd. has spent Rs. 50.67 Crore on Corporate Social Responsibility (CSR) which amounts to about 3.69% of the average net profits of the Company in the three preceding financial years, company’s annual report 2020 said.
The company has 6 manufacturing facilities and 3 R&D Centres / PDSCs in India. The CSR projects undertaken are within the broad framework of Schedule VII of the Companies Act, 2013.
As part of its CSR policy, the company has taken up several initiatives in this regard for the communities or villages around the manufacturing sites. Programs and initiatives have complemented and supported the development priorities of the local communities.
- Average net profit of the Company for last three financial years: Rs 1483.68 Cr
- Prescribed CSR Expenditure (two per cent of the amount as in item 3 above): Rs. 29.67 Cr
- Total CSR amount spent for the financial year: Rs. 50.67 Cr (3.69% of the average net profits of the Company)
The Board of Directors has constituted Corporate Social Responsibility Committee (CSR Committee) consisting of members viz. R. Ranga Rao (Chairman), Dr. Murali K. Divi, Madhusudana Rao Divi and Dr. Ramesh B.V. Nimmagadda. Corporate Social Responsibility Policy (CSR Policy) indicating the activities to be undertaken by the Company was adopted by the Board on the recommendation of the CSR Committee.
As such most of the programs and projects undertaken by Divi’s are through in-house team. A separate department with qualified staff has been constituted for formulation, implementation and review of CSR activities. A few projects are undertaken in association with NGOs/Charitable Trusts having exercising in certain initiatives undertaken.
Divi’s strongly believe that Industrial Growth must contribute to the upliftment of the society around. Hence, the main focus of CSR is communities or villages around the manufacturing sites.
“Community development initiatives undertaken by Divi’s are successfully adopted and continued by the local communities. We have adopted a collaborative and participatory approach in the formulation and implementation of community development programs for ensuring continuity and sustainability. Some of our initiatives have exit strategy wherein we handover the project, after successful implementation, to local administration for the community ownership.”, the companys’ annual report 2019-20 said.
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