New Delhi: Tata Coffee Ltd spends 1.92 crores during FY 2018-19, which is more than the prescribed Corporate Social Responsibility (CSR) expenditure of Rs 1.80 Crores.
The average net profit of the company for the last three years is 90.00 Crores.
The company broadly focuses on reduction of carbon and water foot print through inclusive and sustainable business practice, renewable energy, water conservation & waste management to support environmental sustainability, ensuring protection and restoration of wildlife within the scope of operations, undertaking programmes focussed on education and skill development, healthcare & gender equality, participating in programmes for volunteering and affirmative action.
As per section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities.
The areas for CSR activities are Healthcare including Preventive healthcare, providing Safe drinking water, sanitation facility, promoting education, old age home maintenance, environmental sustainability and promotion and development of traditional art and handicrafts.
The company formed a CSR committee as per the Act. The funds were primarily allocated to a corpus and utilised through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.
The CSR Committee of the company comprises of Sunalini Menon as Chairperson (Independent Non-Executive Director), V. Leeladhar, and Siraj Azmat Chaudhry as Independent Non-Executive Directors, Sanjiv Sarin as Managing Director & Chief Executive Officer (CEO).