NEW DELHI: Jindal Steel & Power Limited (JSPL), has voluntarily spent Rs. 13.72 Crore on Corporate social responsibility (CSR) during FY – 2018-19, latest Annual Report revealed.
“In view of the losses in previous three years the Company is not required to spend on corporate social responsibility (CSR) as per section 135 of the Companies Act, 2013.”, annual report said.
Company’s voluntarily CSR spending was Rs 10.14 Crore for the year 2017-18. However, JSPL’s voluntarily CSR spending for the FY 2016-17 was Rs. 15.36 Crore.
JSPL CSR initiatives are mainly implemented in the states of Chhattisgarh, Odisha and Jharkhand, positively impacting the lives of people in these regions in many ways.
JSPL’s social commitment include activities in the domains of environmental conservation, education, skill building , health & nutrition, population stabilisation, helping the differently able, creating and developing community infrastructure, safe drinking water and sanitation, generating livelihoods, entrepreneurship development, community driven natural resource management, promotion of sports, art & culture and other activities related to community welfare.
“Your Company views its corporate social responsibility as a routine aspect of its business agenda, rather than just a legal obligation. CSR for JSPL is an integral part of its business strategy, which includes creating an organisation intended to maximise wealth of shareholders and establish productive and lasting relationship with all stakeholders, with an emphasis on fulfilling our responsibility towards the entire community and society.”, Naveen Jindal, Chairman, JSPL said in annual report.
“We take corporate social responsibility (CSR) seriously and intend to increase corporate value in order to
win the trust of all of our stakeholders. To achieve this goal, we believe sustained growth that balances quality and scale is essential.”, JSPL said.
JSPL implements its CSR project under its social arm – JSPL Foundation under the leadership of Shallu Jindal, co-chair of the Foundation.