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.
The table summarizing HPCL’s CSR spending for the financial years 2023-24 and 2022-23
| Head of Expenses | 2023-24 (Rs Crore) | 2022-23 (Rs Crore) |
|---|---|---|
| 1. Promoting Education | 24.78 | 25.27 |
| 2. Promoting Health Care | 20.26 | 16.52 |
| 3. Empowerment of Socially and Economically Backward Groups | 0.06 | 0.08 |
| 4. Promotion of Nationally Recognized and Para-Olympic Sports | 0.53 | 0.41 |
| 5. Imparting Employment by Enhancing Vocation Skills | 21.28 | 21.25 |
| 6. Swachh Bharat Abhiyaan | 1.80 | 12.42 |
| 7. Environment Sustainability | 2.13 | 0.79 |
| 8. Rural Development | 1.09 | 10.23 |
| 9. Others | 3.98 | 9.14 |
| Total | 75.91 | 96.11 |
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
| Description | Amount (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 Years | Nil |
| (d) Amount Required to be Set-Off for the Financial Year | Nil |
| 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 Overheads | 3.18 |
| Amount Spent on Impact Assessment (if applicable) | 0.17 |
| Total Amount Spent for the Financial Year [(a)+(b)+(c)] | 75.91 |
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