New Delhi: Sun Pharmaceutical Industries Ltd spends Rs 3.9 crore on Corporate Social Responsibility (CSR) during FY 2018-19 despite the average net profit of the company for the last three financial years was negative, the company was not required to spend on CSR activities.
The company to undertake various local level community programmes based on the needs of the residents.
In FY19, the company also supported government initiatives, like helping build 216 individual household toilets with an investment of over 43 lakh to achieve government’s objective of zero open defecation.
The CSR policy of the company encompasses its philosophy towards CSR and lays down the guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large.
The CSR Committee consists of Dilip S. Shanghvi as Chairman and members like Sudhir V. Valia and Rekha Sethi.
The company has identified health, education & livelihood, environment protection, water management and disaster relief as the areas where assistance is provided on a need-based and case to-case basis.
Sun Pharma has taken up diversified CSR Projects in rural areas lying in the vicinity of its plant locations and also in remote, unprivileged areas for sustainable development of people as a part of its Social Responsibilities.
The main objective of the company is to emphasise on social process, quality and ensuring the sustainability, hence the strategic implementation approach is more inclined towards the sustainability of the projects, addressing community needs, focussing the poor, disadvantaged, Below Poverty Ling (BPL) and weaker sections of society.