MUMBAI: Total Spending on Corporate Social Responsibility (CSR) of Hindustan Unilever Limited (HUL) as percentage of average Net profit of the Company for last 3 financial years is 2.07% (Rs 116.09 crore), revealed its annual report for the year 2017-18.
During the year, the HUL has spent an amount of Rs. 8.5 crores on Fair & Lovely Foundation and Rs. 2.14 crores on Rin Career Ready Academy in accordance with the CSR Policy of the HUL. However, these spends have not been considered for the purpose of computing prescribed CSR spend of two percent of the Average Profits.
In line with the requirements of the Companies Act, 2013, HUL has also published the CSR Annual Report which forms part of this Annual Report. Read CSR Annual Report and this Business Responsibility Report.
The Corporate Social Responsibility (CSR) Committee comprises OP Bhatt as the Chairman and Aditya Narayan, Dr. Sanjiv Misra, Kalpana Morparia, Sanjiv Mehta and Srinivas Phatak as the Members of the Committee. During the year, P. B. Balaji ceased to be the Member of the Committee and was succeeded by Srinivas Phatak.
The role of CSR Committee includes formulating and recommending to the Board the CSR Policy and activities to be undertaken by the Company, recommending the amount of expenditure to be incurred on CSR activities of the Company, reviewing the performance of Company in the area of CSR.