The company’s enhanced CSR budget and strategic alliances echo its dedication to societal welfare, setting a precedent for other corporations to follow suit.
Haridwar ( India CSR) – In a move showcasing its heightened commitment to Corporate Social Responsibility (CSR), Patanjali Foods Limited has allocated Rs. 12.3679 Crore for CSR initiatives for the financial year ending March 31, 2023. This substantial allocation marks a year-on-year surge of 87% from the previous year’s figure of Rs. 6.6100 Crore.
As mandated by Section 135 of the Companies Act, 2013, the firm, under its revised CSR policy endorsed by its Board of Directors, has streamlined its contributions towards meaningful societal interventions. The Companies (Corporate Social Responsibility Policy) Rules, 2014, have further reinforced this commitment with the establishment of a dedicated CSR Committee to oversee and monitor CSR initiatives.
During the year, the company entered into a significant partnership with Patanjali Yogpeeth Trust. One of the highlight projects is the Gurukulam in Haridwar, Uttarakhand. Designed as a sanctuary for both contemporary and ancient education, this initiative primarily targets the holistic development of underprivileged children.
The Gurukulam will focus on remote and tribal areas, providing free education and other essentials to children from socially, educationally, and economically backward classes.
Additionally, the company’s commitment towards community development remains evident. From setting up educational establishments in rural pockets to philanthropic endeavors, Patanjali Foods Limited aims to foster positive relations with local communities and contribute to their sustainable growth.
The firm also made a strategic shift by renaming its CSR Committee to the ESG & CSR Committee and inducting Shri Ram Bharat, Managing Director of Patanjali Foods Limited, as a member effective from August 11, 2023.
Also Read:
- Corporate Governance at Patanjali Foods Limited: Upholding Ethics and Integrity – 2023
- Patanjali Foods: The Rise of an Indian Edible Oil Giant and Exceptional Financial Journey
(Copyright@indiacsr)
