NEW DELHI: Jindal Stainless (Hisar) Limited (JSHL) spent over Rs 6.44 crore on Corporate Social Responsibility (CSR) activities during the financial year (FY) 2018-19 (Apr-Mar). During 2017-18 it spent Rs. 2.51 Cr in CSR.
The Corporate Social Responsibility Committee (CSR Committee) has formulated and recommended to the Board, a Corporate Social Responsibility Policy (CSR Policy) indicating the focus areas of Company’s CSR activities. The CSR Committee consists of three Directors, out of which one is Independent.
A responsibility statement of the CSR Committee of the Company that the implementation and monitoring of CSR Policy, is in compliance with the CSR Objectives and Policy of the Company. The implementation and monitoring of the CSR Policy, is in compliance with CSR Objectives and Policy of the Company.
In line with the CSR philosophy and all the focus areas, It has planned interventions in the fields of education & vocational training, integrated health care, women empowerment, social projects, rural infrastructure development, environment sustainability, sports, preservation of art and culture, company said.
Average net profit of the company for last three financial years is Rs. 314. 40 Crore.
Amount required to be spent towards Corporate Social Responsibility (CSR) as per the provisions (two percent of the amount as in item 3 above) of section 135 of Companies Act, 2013 by the Company during the year is Rs. 6.29.
- During the year gone by, The General Insurance Corporation of India (GIC), India’s State owned reinsurance enterprise, decided to provide funds for 5,000 stainless steel benches as part of their CSR initiative.