New Delhi: Kajaria Ceramics Ltd has incurred expenditure of Rs 4.86 crore on Corporate Social Responsibility (CSR) during FY 2018-19, being about 63.20% of the prescribed CSR budget of Rs 7.69 crore, Annual Report of FY 2018-19 says.
The average net profit of the Company for the last three financial years is Rs 384.53 Crores.
The shortfall of 36.80% in the required expenditure was due to non-identification of appropriate projects and programmes as the company is looking for long term programmes which will benefit the society at large in line with the intend of laws for which CSR provisions have been made in the statute, Annual Report further says.
The company affirms in the report, that the implementation and monitoring of CSR Policy is in compliance with CSR objectives & policy of the Company.
The programmes are aligned with the requirements of Companies Act, 2013 and the CSR activities are being monitored by the CSR Committee constituted by the Board.
Sushmita Sinha is the chairperson of CSR Committee of the company.
The company has also implemented various CSR programmes under CSR policy which made positive impacts mainly in the areas of health, sanitation, conservation of natural resources, social relief, promoting sports and education.
During the year under review, the CSR programmes initiated by the company includes taking steps for Swachh Bharat, preventive health care, constructing sanitation facilities in the schools, manufacturing facilities, contributing to the education, and social economic development of underprivileged children.