With a focus on innovation and collaboration, Eicher Motors aims to amplify its CSR impact, setting a benchmark for responsible corporate practices in India.
NEW DELHI (India CSR): Eicher Motors Limited (EML), a leader in the automotive industry, has reaffirmed its commitment to corporate social responsibility (CSR) through transparent reporting and compliance with legal mandates. In its Integrated Annual Report for FY 2023-24, the company reported the transfer of Rs. 33.79 crores to its Unspent CSR Account on April 29, 2024, in accordance with Section 135 of the Companies Act, 2013.
Commitment to CSR Excellence
Eicher Motors’ CSR initiatives align with its mission to drive sustainable development and positive social impact. The company reported a total CSR obligation of Rs. 51.87 crores for FY 2023-24, derived from its average net profit of Rs. 2,590.40 crores over the preceding three years. While Rs. 18.08 crores were spent on CSR projects and administrative overheads during the financial year, the unspent amount of Rs. 33.79 crores was duly transferred to the Unspent CSR Account, ensuring full compliance with statutory requirements.
CSR Focus Areas
Eicher Motors continues to prioritize key themes in its CSR agenda, including:
- Local Area Development: Empowering underserved communities.
- Environmental Sustainability: Responsible travel and conservation initiatives.
- Road Safety: Enhancing public awareness and safety measures.
- Community Empowerment: Supporting 100 Himalayan communities through targeted interventions.
Governance and Implementation
Eicher Motors adheres to a robust CSR governance structure to ensure transparency and efficacy. The CSR policy emphasizes clearly defined objectives, thorough monitoring, and comprehensive impact assessments for all initiatives. Projects are implemented through the Eicher Group Foundation (EGF) and third-party collaborations, with a focus on achieving measurable outcomes.
Addressing Challenges
The company has faced challenges in fully utilizing its CSR budget, with unspent amounts reported across financial years:
- FY 2020-21: Rs. 4.01 crores spent with no balance remaining.
- FY 2021-22: Rs. 7.26 crores spent, leaving Rs. 1.58 crores unspent.
- FY 2022-23: Rs. 7.22 crores spent, with Rs. 24.91 crores unspent.
(India CSR)
