Despite a slight reduction in total CSR expenditure compared to the previous year, the company continues to be a leader in cybersecurity awareness and community welfare.
NEW DELHI (India CSR): Quick Heal Technologies Limited has reaffirmed its strong commitment to corporate social responsibility (CSR) by implementing impactful initiatives through the Quick Heal Foundation. With a strategic focus on cybersecurity awareness, education promotion, and community development, the company has consistently contributed to the welfare of society.
CSR Spending Overview
During the financial year 2023-24, Quick Heal Technologies spent Rs. 1.82 crore on CSR activities, surpassing its mandated CSR obligation of Rs. 1.70 crore under Section 135 of the Companies Act, 2013.
This marks an increase from the previous year’s CSR spending of Rs. 1.71 crore, reflecting the company’s unwavering commitment to social impact.
Financial Highlights of CSR Expenditure
- Average net profit (as per Section 135(5)): ₹85.34 crore
- Two percent of average net profit (CSR obligation): ₹1.70 crore
- Total amount spent on CSR: ₹1.82 crore
- Excess amount spent over mandated CSR: ₹11.31 lakh
- Turnover for FY 2023-24: ₹313.12 crore
- Net worth: ₹420.98 crore
The company has exceeded its CSR obligation by Rs. 11.31 lakh, which can be carried forward for set-off in the succeeding financial years.
Key CSR Initiatives and Impact
Quick Heal’s CSR initiatives reflect its core values as a responsible employer, ethical business partner, and cybersecurity advocate. The company’s flagship project, Cyber Shiksha for Cyber Suraksha, focuses on educating, empowering, and protecting India’s young cyber citizens through workshops and awareness programs.
Cybersecurity Awareness & Digital Safety Initiatives
- The Cyber Shiksha for Cyber Suraksha program has benefitted 13,57,000 individuals, including students, teachers, and parents.
- It addresses online safety, digital citizenship, and information literacy—essential in today’s digital age.
- This cross-district initiative ensures cyber hygiene awareness among vulnerable communities and stakeholders.
Regulatory Compliance & Transparency
Quick Heal ensures full compliance with the Companies Act, 2013, and the Companies (Corporate Social Responsibility Policy) Rules, 2014. The company’s CSR policy is publicly accessible on its official website, reinforcing transparency and accountability in its CSR operations.
CSR Financial Obligations & Set-Off Details:
| Financial Year | Amount Available for Set-Off | Amount Required to be Set-Off |
|---|---|---|
| 2023-24 | ₹9,189 | ₹11,31,816 |
The company has no surplus arising from previous financial years and has maintained strict adherence to CSR guidelines.
CSR Spending Trend Analysis
Quick Heal’s CSR spending has fluctuated over recent years:
- FY 2022-23: Rs.2.31 crore
- FY 2023-24: Rs.1.82 crore
The decline in total CSR spending compared to FY 2022-23 could be due to strategic reallocation of funds, efficiency improvements, or prioritization of high-impact projects. However, the focus on cybersecurity awareness remains unwavering, showcasing the company’s dedication to its core mission.
Future CSR Outlook
Quick Heal Technologies aims to further expand its cybersecurity awareness programs, bridging the knowledge gap in digital safety. The company is likely to:
- Enhance cybersecurity training modules for underprivileged students.
- Collaborate with educational institutions and government bodies to scale cybersecurity awareness programs.
- Explore new avenues for social impact, aligning with evolving cybersecurity threats and community needs.
(India CSR)
