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Home Corporate Social Responsibility

HPCL Reports Record CSR Spending of Rs. 111.94 Cr for FY 2023-24

Through substantial investments in health, nutrition, and aspirational districts, HPCL continues to make a meaningful impact on society, demonstrating its dedication to both business growth and social responsibility.

India CSR by India CSR
August 4, 2024
in Corporate Social Responsibility, News
Reading Time: 4 mins read
INDIA CSR NEWS ANALYSIS
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HPCL’s record CSR spending for FY 2023-24 highlights its ongoing commitment to addressing critical social issues and supporting community development.

NEW DELHI (India CSR): Hindustan Petroleum Corporation Limited (HPCL) has announced its significant corporate social responsibility (CSR) expenditure for the fiscal year 2023-24, with a total spend of Rs. 111.94 Crore. This substantial investment underscores HPCL’s commitment to contributing to societal well-being and aligns with its strategic focus on health, nutrition, and supporting aspirational districts.

Breakdown of CSR Expenditure

HPCL’s CSR initiatives have been robust, reflecting the company’s dedication to addressing critical social issues and fostering inclusive growth. The total CSR expenditure for FY 2023-24 includes:

  • Health and Nutrition Projects: Rs. 69.66 Crore
  • Support for Aspirational Districts: Rs. 16.14 Crore
  • Other CSR Activities: Rs. 26.14 Crore

Health and Nutrition Focus

In alignment with the annual theme of ‘Health and Nutrition,’ HPCL has invested Rs. 69.66 Crore in various projects aimed at enhancing healthcare infrastructure and services. Key initiatives include:

  • Medical Equipment: Provision of medical devices and equipment to strengthen public healthcare systems at primary healthcare centers, community healthcare centers, and district hospitals.
  • Compressed Bio-Gas (CBG) Plant: The completion of the CBG Plant at Village Pathmeda, District Jalore, Rajasthan, which processes waste and biomass into purified bio-gas, demonstrates HPCL’s commitment to sustainable practices and environmental stewardship.
कारपोरेट सामाजिक उत्तरदायित्व
corporate social responsibility-india csr

The table summarizing HPCL’s CSR spending for the financial years 2023-24 and 2022-23

Head of Expenses2023-24 (Rs Crore)2022-23 (Rs Crore)
1. Promoting Education24.7825.27
2. Promoting Health Care20.2616.52
3. Empowerment of Socially and Economically Backward Groups0.060.08
4. Promotion of Nationally Recognized and Para-Olympic Sports0.530.41
5. Imparting Employment by Enhancing Vocation Skills21.2821.25
6. Swachh Bharat Abhiyaan1.8012.42
7. Environment Sustainability2.130.79
8. Rural Development1.0910.23
9. Others3.989.14
Total75.9196.11

Approved CSR Amount for 2023-24: Rs. 64.22 Crore
Approved CSR Amount for 2022-23: Rs. 154.85 Crore

Support for Aspirational Districts

HPCL allocated Rs. 16.14 Crore towards projects in aspirational districts, focusing on improving healthcare and educational facilities in these underserved regions. This investment aims to drive socio-economic development and uplift the quality of life in these areas.

Additional CSR Activities

Beyond health and nutrition, HPCL’s CSR efforts also included various other projects, with a total expenditure of Rs. 26.14 Crore. These projects support diverse causes, contributing to overall community development and environmental sustainability.

Alignment with National Priorities

HPCL’s CSR spending aligns with national priorities and government policies, including the National Health Mission, National Skill Development Mission, and the Clean India Movement. The company’s approach reflects its commitment to creating shared value and supporting sustainable development goals.

Financial Summary

For FY 2023-24, HPCL’s financial summary related to CSR expenditure is as follows:

  • Total CSR Expenditure: Rs. 111.94 Crore
  • Amount Utilized from UCSRA: Rs. 36.03 Crore
  • Remaining Balance in UCSRA: Rs. 22.71 Crore (to be utilized in subsequent years)

A Table summarizing HPCL’s CSR financial details

DescriptionAmount (Rs. Crore)
(a) Average Net Profit (as per subsection (5) of section 135)3,211.22
(b) Two Percent of Average Net Profit (as per subsection (5) of section 135)64.22
(c) Surplus Arising Out of Previous Financial YearsNil
(d) Amount Required to be Set-Off for the Financial YearNil
Total CSR Obligation for the Financial Year [(b)+(c)-(d)]64.22
Amount Spent on CSR Projects (both ongoing and other than ongoing)72.56
Amount Spent in Administrative Overheads3.18
Amount Spent on Impact Assessment (if applicable)0.17
Total Amount Spent for the Financial Year [(a)+(b)+(c)]75.91

(India CSR)

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