India CSR Network
No Result
View All Result
  • Login
  • Register
SUBSCRIBE
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Login
  • Register
No Result
View All Result
India CSR Network
No Result
View All Result
Home More

JSW Steel to allocate 1.5 per cent of profit for social activities

by India CSR Network
10 years ago
in More

MUMBAI: JSW Steel intends to set aside 1.5 per cent of its annual profit for corporate social responsibility activities. The company recorded a net profit of Rs 1,626 crore in FY12. It will announce its June quarter results on Thursday.

Speaking at the company’s annual general meeting, Sajjan Jindal, Chairman, said the company is committed to allocating 1.5 per cent of profit after tax for CSR activities. JSW Foundation has touched the lives of over nine lakh people through its CSR activities, he added.

Going forward, he said, the company would focus on cost optimisation and value addition. The greenfield projects in Jharkhand and West Bengal are expected to significantly optimise production costs.

Strategic collaboration with JFE Steel Corp, especially in technological know-how, has opened up new avenues of growth and helped the firm move up the value chain in steel products.

India possesses the world’s fifth largest iron ore reserves; it is the fourth largest iron ore producer in the world. Yet India cannot supply adequate quality iron ore to steel producers as 35 per cent of its production is exported, Mr Jindal said.

“When other nations restrict exports of valuable natural resources, India must refrain too. Transforming India’s natural resources into finished products must be given priority,” said Jindal.

Policies considering this will go a long way in protecting and enhancing the Indian steel industry. A transparent process of allocating natural resources through auctions is also necessary and the government must seriously consider and implement such measures, the chairman added.

JSW Steel expects to turn around its loss-making subsidiary JSW Ispat in the next 18 to 24 months. JSW acquired Ispat Industries in 2010. “The process of operational integration between both the companies is expected to be complete by September next year,” said Mr Jindal.

JSW Steel is also considering merger of Ispat Steel with itself once the latter turns profitable, he added.

CSRBooks.com CSRBooks.com CSRBooks.com
Tags: CSR of JSW GroupJFE Steel CorpJSW Foundation
ShareTweetPin

India CSR Network

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium content, we invite you to subscribe it.

Related Posts

Union Budget 2022: Tax Rebates in Budget for Realty Vital for Salaried Class
More

Union Budget 2022: Tax Rebates in Budget for Realty Vital for Salaried Class

January 19, 2022
India’s Veteran journalist Vinod Dua passes away
More

India’s Veteran journalist Vinod Dua passes away

December 5, 2021
Meet a NGO Leader who digs up dirt to set right system
More

Meet a NGO Leader who digs up dirt to set right system

August 10, 2021
More

Republic or Democratic?

January 22, 2021
Brand Identity of India CSR Network
CSR

Nomination invited for India CSR Professional of the Year Awards

August 4, 2021
More

Value of Books in Life

August 4, 2021
More

Google generates its 83% of revenues from the display of ads

August 4, 2021
More

Reliance Foundation Hospital rewarding medical staff with extra pay

August 4, 2021
CSR

Covid-19: ITC’s Paperboards and Specialty Paper Business lend its support to the needy in Telangana

August 4, 2021

Discussion about this post

Popular Stories

  • Lupin Terminates 300 Staff

    Lupin Terminates 300 Staff

    0 shares
    Share 0 Tweet 0
  • What is liberalization?

    0 shares
    Share 0 Tweet 0
  • 7 Reasons Why Smartphone Can Make Your Life Easier

    0 shares
    Share 0 Tweet 0
  • QNET CSR Arm Supports Electrification Project to light up the lives of 470 villagers in Meghalaya

    0 shares
    Share 0 Tweet 0
  • MCA amends Schedule III of Companies Act on disclosure norms in financial statements and Details of Corporate Social Responsibility (CSR)

    0 shares
    Share 0 Tweet 0
India CSR Network

  • Home
  • About Us
  • Team
  • Partnership
  • Contact
  • Terms of Use
  • Subscribe

No Result
View All Result
  • Home
  • CSR
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Environment
    • Education
    • Gender Equality
    • Health
    • Skill Development
    • No Poverty
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Articles
  • Interviews
  • Events
  • BOOKS
  • More
    • Technology
    • Lifestyle
    • Case Studies
    • Knowledge
    • Social Sector Leaders
    • Social Entrepreneurship
    • Philanthropy
    • Sports
    • Gaming
  • Prime
  • Login
  • Sign Up
  • Cart

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In