By Rusen Kumar
MUMBAI: Tata Consultancy Services (TCS), among the world’s top 10 IT service providers, has spent Rs. 379.71 Crore on various Corporate Social Responsibility (CSR) programmes. Prescribed CSR Expenditure for the year was Rs. 446 crores. Average net profit of the company for last three financial years for the purpose of computation of CSR was Rs. 22,275 crores. Unspent CSR amount for the year was Rs. 66 crores., revealed Annual Report, 2016-17
The projects or programmes undertaken by the company on the broad framework of Schedule VII of the Companies Act, 2013.
Two meetings of the CSR committee were held during the year to review the progress.
Financial details for the reviewed year
- Total Turnover (Rs): 1,17,966 Crore
- Total profit after taxes (Rs): 26,289 Crore
- Total Spending on Corporate Social Responsibility (CSR) as percentage of profit after tax (%): 1.7% of average profit for previous three years in respect of standalone TCS (India initiatives only)
Composition of CSR Committee
The Corporate Social Responsibility (CSR) Committee of the Board of Directors is responsible for implementation of Business Responsibility policies. The members of the CSR Committee are as follows:
- Chandrasekaran: Chairman
- P. Bhatt: Independent Director
- Rajesh Gopinathan: Chief Executive Officer and Managing Director
- Aarthi Subramaniam: Executive Director
CSR Spending for the Year 2016-17
|S. No.||Category (CSR in India only)||Rs. Crore|
|1.||Education & Skill Building||90.6|
|2.||Health & Wellness||88.3|
|3.||Restoration of Heritage Site||0.2|
|5.||Contribution to TCS Foundation||200.0
Including overseas spend, the Company’s total spending on Corporate Social Responsibility is Rs. 437 Crore.
TCS’ CSR policy is aimed at demonstrating care for the community through its focus on education & skill development, health & wellness and environmental sustainability including biodiversity, energy & water conservation. Also embedded in this objective is support to the marginalised cross section of the society by providing opportunities to improve their quality of life.
In other countries of operation, the Company’s CSR projects are designed and implemented to address the needs of the local community. Projects such as goIT, IT Futures and work experience programme have been created to specifically address the science, technology, engineering and mathematics (STEM) education skill gap.
“Your Company has a long tradition of being a responsible corporate citizen in all the communities we work with across the world. The guiding principle of TCS’ CSR programs is Impact through Empowerment through interventions in Education, Health and Environment.”, added report.
TCSers volunteered over 6.9 lakh hours for social and environmental causes in their respective communities.
The guiding philosophy behind our CSR programs is to make an impact on communities by empowering individuals. Many of our programs are focused on imparting education and skills which help individuals become productive.
Founded in 1968 as part of the Tata group, TCS is headquartered in Mumbai, India and is a public limited company, listed on the National Stock Exchange (NSE) and BSE Ltd. (Bombay Stock Exchange) in India. TCS is among the world’s top 10 IT service providers.
(Report based on facts on Annual Report, 2016-17 of TCS Limited)