JSW Steel contributed Rs 2434 crore to government and society in 2010-11

In 2009-10, company had spent Rs 13 crore for corporate social responsibility (CSR) initiatives.

Photo: ITD CEM

NEW DELHI: JSW Steel Ltd, Sajjan Jindal-controlled company, is set to become the biggest steel maker in the country, contribution to government (direct taxes and indirect taxes) and society (corporate social responsibility) increased by 45% to Rs 2434 crore in the financial year 2010-11 as compared to Rs 1683 crore of last year, company’s Annual Report 2010-11 said.

According to the report,  during the financial year JSW Steel shared Rs 15 crore towards society as corporate social responsibility (CSR) initiatives spending. In 2009-10, company had spent Rs 13 crore for corporate social responsibility (CSR) initiatives.

Company had introduced a special column in annual report to disclose the government and social contribution/spending that highlights contribution to government as direct taxes and indirect taxes and society as corporate social responsibility. In financial year 2010-11, company paid Rs 726 crore direct tax and Rs 1693 crore  indirect taxes to government.

During the year Company’s profit after tax (PAT) was Rs 2011 crore on standalone basis.

Company has undertaken various measures to address environment issues as its plant locations:

Environment Control Laboratories has been developed for carrying out monitoring of water, waste-water and air pollutants. The Monitoring carried out ambient air, stack and in-plant sampling, drinking water, and effluents.

Efforts is made to prevent pollution by recycling solid wastes and liquid treated waste-water for reuse in the premises. Company has not disclosed contribution/spending to Environment initiative in the annual report for the said year.

JSW Steel received PM’s Trophy Award, known as steel Minister’s Trophy, for the best performing integrated steel plant in the country for the year 2007-08, rewarded on  July 31, 2010.