Shree Cement spends Rs 19.29 Cr on Social Development

NEW DELHI: Kolkata based Shree Cement Limited (SCL) has spent Rs. 19.29 Crores towards various Corporate Social Responsibility (CSR) programmes during the year 2016-17 which is 2.02% of the average net profit of Rs 955.49 crore of last 3 preceding years as specified in the Companies Act, 2013., Annual Report 2016-17 revealed.

In a very recent study 2017 Responsible Business Ranking by Futuerscape and IIM Udaipur, SCL has been ranked in the Top 10 companies for Sustainability and CSR out of top 100 companies evaluated in India.

Shree considers social development as an important aspect of its operations and community as its key stakeholder. It believes that the community around its operations should also grow and prosper in the same manner as does its own business.

“Guided by our vision to lead in creating prosperity and happiness for all stakeholders, Shree continued to work through innovation and sustainable practices. Shree’s CSR activities show our inclination, engagement and commitment to enhance happiness of communities around all plants.,” P. N. Chhangani, President (Works) said.

The thrust areas of CSR include healthcare, education, women empowerment, infrastructure support, integrated rural development and conservation of natural resources.

It has aligned its thrust areas in line with the requirements of Schedule VII to the Companies Act, 2013. To oversee implementation of various initiatives, Company has formed a Board Level Committee called Corporate Social and Business Responsibility (CSBR) Committee.

“SCL fulfills the statutory criteria and is committed to spend 2% of its Average Net Profit of last three years towards its Samaj Seva Initiatives. Shree Samaj Seva Programmes focuses supporting needy people of the society for their upliſtment.” it said.

(Based on Annual Report, 2016-17, Shree Cement Limited)