New Delhi – Voltas Ltd spends Rs 12.26 crore on Corporate Social Responsibility (CSR) during FY 2018-19, which is more than the prescribed CSR expenditure of Rs 10 crore.
The average net profit of the company for last three financial years is 500.22 crore and served over 17 thousand beneficiaries from CSR activities.
The company through its CSR initiatives strives to engage with the segment at the bottom of the pyramid and build capabilities in youth and women to ensure sustainable livelihood.
The company broadly focusses on livelihood education, employability, affirmative action and environmental sustainability.
The CSR interventions are strategic long-term projects with intervention based on community participation and ownership. The need-based projects bring in all the crucial stakeholders together through better community participation, for sustainable development outcomes.
The CSR Policy articulates the company’s approach and commitment to sustainable and inclusive social development by improving the quality of life of the communities it serves.
Engage, equip and empower is the theme of various projects initiated under the three verticals namely, sustainable livelihood, community development and issues of national importance.
Sustainable livelihood is the flagship programme which focusses on building employability of youth from underprivileged section of the society. Community development deals with water, health and education, and emphasizes on community participation and ownership, and works on long term projects for sustainable outcomes. Issues of national importance deals with the thematic areas like disaster management, sanitation and affirmative action.
The CSR Committee is composed of Noel N. Tata as Chairman, Pradeep Bakshi as Managing Director & Chief Executive Officer (CEO), Bahram N. Vakil and Nani Javeri as Independent Directors.