Kaushalya Logistics Limited has consistently demonstrated its commitment to sustainable business practices by integrating Corporate Social Responsibility (CSR) into its operations. In line with its focus on environmental protection and social contribution, the company continues to prioritize responsible business performance. For the financial year 2023-24, Kaushalya Logistics Limited allocated Rs 12.39 lakh towards its CSR obligations. This report provides an overview of the company’s CSR activities, its financial performance, and future commitments to social and environmental development.
CSR Policy and Objectives
Kaushalya Logistics Limited follows a CSR policy that aligns with the Companies Act, 2013. The policy outlines the company’s philosophy and approach towards meeting its social responsibilities. It emphasizes sustainability, accountability, and transparency in all CSR efforts. The CSR policy can be accessed on the company’s website, reflecting its commitment to responsible and ethical business practices.
The board of directors, instead of forming a separate CSR committee, oversees the company’s CSR activities in line with Section 135 of the Companies Act, 2013, as the CSR budget for the financial year falls below Rs 50 lakh. The Board has been tasked with monitoring and approving the CSR budget and ensuring that the allocated funds are spent on meaningful projects.
Financial Performance and CSR Allocation
For the financial year 2023-24, Kaushalya Logistics Limited reported a profit before tax of Rs 12,24,83,931.68. Based on the company’s average net profits for the last three years, the board allocated Rs 12,38,536 towards CSR activities. This amount represents 2% of the company’s average net profit, as mandated by the Companies Act.
CSR Budget and Expenditure Overview
CSR Obligation for FY 2023-24
Kaushalya Logistics Limited’s CSR obligation for FY 2023-24 was Rs 12.39 lakh. The company has made provisions for this expenditure and intends to fulfill this obligation by September 30, 2024, as per Section 135(5) of the Companies Act, 2013. The funds are expected to be directed towards the Prime Minister’s CARES Fund or other eligible CSR activities listed in Schedule VII of the Act.
Shortfall in Previous Years
During the financial year 2022-23, the company faced a shortfall of Rs 7.79 lakh in CSR expenditure. This amount has been accounted for in the current financial year, ensuring that the shortfall is covered alongside the current year’s CSR obligation. By the end of FY 2023-24, the company had provisioned the full Rs 12.39 lakh for CSR activities.
CSR Activities and Focus Areas
Despite not conducting CSR activities in the previous financial year (2022-23), Kaushalya Logistics Limited is now prepared to execute impactful projects in 2024-25. The company plans to focus its CSR efforts on areas such as:
- Education: Supporting underprivileged communities with access to quality education.
- Healthcare: Investing in initiatives aimed at improving healthcare services in rural and underserved areas.
- Environmental Sustainability: Engaging in activities that promote environmental protection, such as tree plantation drives and waste management projects.
- Social Welfare: Contributing to poverty eradication and community development through various social welfare programs.
Kaushalya Logistics Limited’s CSR Spending Report for 2023-24:
| Key Facts | Details |
|---|---|
| Profit Before Tax (FY 2023-24) | Rs 12,24,83,931.68 |
| CSR Obligation (2% of Average Net Profit) | Rs 12.39 lakh |
| Total CSR Provision for FY 2023-24 | Rs 12.39 lakh |
| Shortfall from Previous Years (FY 2022-23) | Rs 7.79 lakh |
| CSR Expenditure Incurred in FY 2022-23 | Rs 0 |
| CSR Budget for FY 2023-24 | Rs 12.39 lakh |
| CSR Committee Formation | Not applicable (Board oversees CSR directly) |
| Focus Areas of CSR | Education, Healthcare, Environmental Sustainability, Social Welfare |
| Planned CSR Spending Deadline | By September 30, 2024 |
| Primary CSR Allocation | Prime Minister CARES Fund |
Kaushalya Logistics Limited plans to utilize the Rs 12.39 lakh provisioned for CSR activities by the end of September 2024. This will ensure that the company meets its CSR obligations for both the current and previous financial years.
Future CSR Commitments
Kaushalya Logistics Limited is fully committed to addressing the shortfall in its CSR expenditure and meeting its obligations under the Companies Act, 2013. With the funds already set aside for the 2023-24 financial year, the company will embark on its CSR projects by the stipulated deadline of September 2024. The company’s CSR efforts will focus on creating long-term value for society, ensuring sustainable development, and uplifting the communities in which it operates.
You Learn
Kaushalya Logistics Limited’s commitment to Corporate Social Responsibility remains strong. For FY 2023-24, the company has allocated Rs 12.39 lakh towards various CSR activities, with a plan to execute these projects by September 2024. Despite challenges in the previous financial year, the company is determined to meet its social responsibilities and contribute to the welfare of society. Through its CSR initiatives, Kaushalya Logistics Limited aims to make a positive and lasting impact on the communities it serves.
