NEW DELHI: For the year ended March 31, 2019, Piramal Enterprises Limited (PEL) contribution to community development projects through its CSR partners, Piramal Foundation for Education Leadership (PFEL) and Piramal Swasthya is Rs. 31.20 Crores.
PEL conducted its CSR initiatives through the subsidiaries of Piramal Foundation – Piramal Swasthya Management and Research Institute, and Piramal Foundation for Education Leadership.
The Company believes in collaborating with like-minded partners and nurtures projects that are scalable and deliver a sustainable impact.
Piramal Group’s core values of Knowledge, Action, Care and Impact guide the organisation in carrying out its responsibilities towards society. In line with the Group’s sustainable development goals, the CSR partners are focused on – Universal primary education, Youth empowerment, Maternal health, child health and non-communicable diseases.
Piramal Foundation works to transforming Health, Education, Water and Social Sector ecosystems through high impact solutions, thought leadership and partnerships.
Average Net Profits are Rs. 811.80 Crores computed in line with the requirements of Section 135 of the Act, company’s annual report said.
As per report, Subsidiaries of the Company and Group Companies contributed towards the following CSR activities:
- Building Leadership of Government Schools (Education Sector): Rs 19.60 Crores by way of donation to Piramal Foundation for Education Leadership (Implementing Agency);
- Enabling Primary Healthcare (Healthcare Sector): Rs. 7.04 Crores by way of donation to Piramal Swasthya Management and Research Institute (Implementing Agency).
PEL has an ongoing Employee Social Impact (ESI) programme coordinated by Piramal Foundation (a company registered under Section 8 of the Companies Act, 2013) which provides volunteering opportunities to its employees.
ESI is an attempt that envisages to foster a sense of responsibility and provide opportunity to the employees of the Piramal Group towards being socially responsible at an individual level for strategic volunteering. In FY 2018-19 a total of 60,569 employee volunteering hours were recorded under the ESI programme.