New Delhi: Corporate Social Responsibility (CSR) is a concept that has gained significant importance in recent years, with companies being expected to not only focus on their financial performance, but also on their impact on society and the environment. Shakti Pumps (India) Ltd. is no exception, and has allocated a significant portion of its resources towards CSR activities.
For the financial year 2021-22, the company has spent Rs. 72.66 lakhs on CSR activities, which is 2% of the average net profit of the company for the last three financial years. This amount has been spent on capacity building and skill development training, promotion of education and sports, and preventive health care.
Shakti Pumps is committed to fulfilling its social responsibility and has demonstrated this by actively working to mitigate the impact of the COVID-19 pandemic. The company plans to continue working in the areas of health and education in the future.
In addition to its CSR spending, Shakti Pumps also ensures that its products are in the interest of the general public and monitors and mitigates any social or environmental risks that could impact society. The company’s CSR policies are aimed at empowering underprivileged members of society through various social upliftment initiatives.
This table displays the amount spent by Shakti Pumps on CSR activities for the financial years.
| Financial Year | Amount Spent on CSR | Unspent |
|---|---|---|
| 2019-20 | 25 Lakh | 95 Lakh |
| 2020-21 | 1.14 Cr | |
| 2021-22 | 72.66 Lakh | |
The company has a CSR Committee that is responsible for the development of programs and projects for the benefit of weaker sections of society. The committee is composed of three members, including a chairman, and meets regularly to review and report on the company’s CSR initiatives.
Shakti Pumps is a well-established company in the field of pumps and motors, with a reputation for excellent quality and energy efficiency. The company has been in business since 1982 and is a global leader in the manufacture of 100% stainless steel pumps. It is India’s first BEE 5 Star rated company and is certified by ISO 9001-2008. The company’s stainless-steel pumps have a 60% higher discharge rate compared to other pumps.
In short, Shakti Pumps is a company that is not only committed to delivering superior value to its customers and shareholders, but also to society at large. Its CSR initiatives are focused on the holistic development of host communities and creating social, environmental, and economic value for society. The company plans to continue working actively in areas of eradication of hunger and poverty, providing opportunities and financial assistance for the promotion of education, and providing medical aid to the needy and downtrodden. Additionally, Shakti Pumps will continue to collaborate with like-minded organizations and interact regularly with stakeholders to review and publicly report its CSR initiatives.
| SI. No. | Name of Director | Designation/Nature of Directorship |
|---|---|---|
| 1 | Mr. Pramod Kumar Bhawsar | Chairman |
| 2 | Mrs. Nishtha Neema | Member |
| 3 | Mr. Navin S Patwa | Member |
This table displays the composition of Shakti Pumps’ CSR Committee, including the name, designation, and directorship of each member.
(India CSR)
