Hawkins Cookers Ltd CSR Spending Report of Rs. 241 Lakhs for FY 2023-24

Hawkins Cookers Limited, one of India’s leading manufacturers of pressure cookers and kitchen appliances, has consistently contributed towards social welfare and community development under its Corporate Social Responsibility (CSR) initiatives. In the financial year 2023-24, the company successfully met its CSR obligations, spending a total of Rs. 241.03 lakhs on various social causes. This article explores the details of Hawkins Cookers Limited’s CSR contributions, focusing on the sectors of healthcare, skill development, and charitable donations.

CSR Policy and Focus Areas

Hawkins Cookers Ltd emphasizes CSR activities that align with its mission to improve the lives of individuals and communities through sustainable practices. The company’s CSR policy is designed to support areas such as rural development, women and children’s health, environmental conservation, and skill training. Their focus on these areas reflects their commitment to long-term social impact.

The core product of Hawkins, the pressure cooker, has itself been marketed as an energy-saving device, promoting both environmental and economic benefits. Hawkins’ CSR activities revolve around extending these benefits to underprivileged communities, contributing to the health and welfare of society.

Overview of CSR Spending in 2023-24

In the financial year 2023-24, Hawkins Cookers Limited had a CSR obligation of Rs. 231.91 lakhs, representing 2% of its average net profits, as mandated under Section 135 of the Companies Act, 2013. Exceeding its requirement, the company spent a total of Rs. 241.03 lakhs, with an excess amount of Rs. 9.13 lakhs carried forward to the next financial year.

Hawkins Cookers Limited’s CSR Spending Report for 2023-24:

Key CSR Initiatives

1. Promoting Healthcare:
   A significant portion of the CSR budget was allocated to healthcare initiatives. Hawkins spent Rs. 131.76 lakhs on public service campaigns educating citizens on using pressure cookers to reduce fuel consumption, promoting healthy cooking habits, and improving overall well-being. Additionally, Rs. 40 lakhs were donated to Akhand Jyoti Eye Hospital in Bihar, which is dedicated to providing cataract surgeries and eye care to underserved populations.
2. Skill Development and Training:
   Hawkins invested Rs. 61.71 lakhs in skill development programs, particularly under the Apprentices Act, 1961. These programs were conducted in Maharashtra, Punjab, and Uttar Pradesh, providing vital training to young individuals. By equipping them with technical skills, Hawkins aimed to increase employability and support the economic growth of the regions.
3. Donations and Relief Fund Contributions:
   Hawkins contributed Rs. 5 lakhs to the Prime Minister’s National Relief Fund, supporting disaster relief and recovery efforts. This fund is utilized in times of natural disasters, emergencies, and crises, providing critical support to affected communities across India.

CSR Committee and Governance

The CSR activities of Hawkins Cookers Limited were overseen by a dedicated CSR committee consisting of board members and independent directors. Chaired by Mr. Murli Aildas Teckchandani, the committee held meetings to review and approve CSR projects for the year. Other notable members included Mr. Ravi Kant and Mr. Subhadip Dutta Choudhury, ensuring the CSR initiatives were aligned with the company’s goals and legal requirements.

Composition of the CSR Committee in 2023-24:

• Murli Aildas Teckchandani (Independent Director, Chairman)
• Ravi Kant (Independent Director)
• Subhadip Dutta Choudhury (Chairman & CEO)
• Sudeep Yadav (Vice-Chairman & CFO)
• Neil Vasudeva (Executive Director – Marketing)

Financial Overview of CSR Expenditure

In the fiscal year 2023-24, Hawkins Cookers Limited had an average net profit of Rs. 115.95 crores. As per the CSR requirement, the company was obliged to spend Rs. 231.91 lakhs. However, through its various projects, the company exceeded this requirement, spending Rs. 241.03 lakhs.

The excess expenditure of Rs. 9.13 lakhs will be carried forward into the 2024-25 financial year, enabling Hawkins to set off this amount against future CSR obligations. This proactive approach demonstrates Hawkins’ dedication to ensuring that its CSR activities not only meet legal requirements but also contribute significantly to the social good.

CSR Projects and Implementation

Hawkins’ CSR initiatives were implemented both directly and through partnerships with reputable charitable organizations. For example, the company’s donation to Akhand Jyoti Eye Hospital was facilitated through Yugrishi Shriram Sharma Acharya Charitable Trust, which holds a CSR registration number CSR00000858. This collaboration ensured that the funds were utilized effectively to provide much-needed healthcare services in rural areas.

Administrative Efficiency and Transparency

One of the notable aspects of Hawkins’ CSR activities in 2023-24 is the absence of administrative overheads. The company reported zero administrative expenses, ensuring that the entire CSR budget was directed towards actual social projects. This transparency is crucial for building trust with stakeholders and ensuring that the company’s CSR efforts are impactful.

Future Outlook

With an excess amount of Rs. 9.13 lakhs carried forward, Hawkins Cookers Limited is already planning its CSR activities for the upcoming financial year 2024-25. The company remains committed to supporting healthcare, skill development, and environmental sustainability, leveraging its expertise to create positive social change.

As Hawkins continues to expand its operations and profitability, its CSR initiatives will likely grow in scale and impact. By focusing on areas where it can make the most significant difference, Hawkins sets an example of how businesses can contribute meaningfully to society while ensuring economic success.

Your Learn

Hawkins Cookers Limited’s CSR expenditure for the financial year 2023-24 highlights the company’s unwavering commitment to social responsibility. By investing in healthcare, skill training, and donations to charitable organizations, Hawkins has made a tangible impact on communities across India. Exceeding its mandated CSR obligations, the company has demonstrated its dedication to going above and beyond, ensuring that its CSR activities are aligned with its values and vision for a better future.

Through transparent governance, strategic partnerships, and a focus on long-term social impact, Hawkins Cookers Limited continues to serve as a model of corporate social responsibility in India.

इसे हिंदी में भी पढ़ें: हॉकिंस कुकर्स लिमिटेड ने वित्त वर्ष 2023-24 में CSR पर 241 लाख रुपये खर्च किए