Building a Sustainable Future Through Education and Empowerment
NEW DELHI (India CSR): WAAREE Renewable Technologies Limited, a forerunner in the renewable energy sector, has been actively contributing to the betterment of society through its comprehensive Corporate Social Responsibility (CSR) initiatives. The company CSR policy, meticulously aligned with Schedule VII of the Companies Act, 2013 and its subsequent amendments, focuses on a broad spectrum of activities aimed at societal and community welfare. With a commitment to transparency and stakeholder engagement, WAAREE has set a precedent in harmonizing business objectives with social imperatives.
Leadership and Governance
Under the adept leadership of Nilesh Gandhi, the Non-Executive Independent Director and Chairman of the Corporate Social Responsibility committee, WAAREE has earmarked 2% of its average net profit, amounting to Rs. 12.33 Lakhs, for CSR activities for the financial year. This financial commitment underscores the company’s steadfast dedication to fulfilling its CSR obligations, further substantiated by the additional amount spent, totaling Rs. 12.50 Lakhs.
Partnering for Impact
In a strategic move to amplify its impact, WAAREE, a BSE-listed company, has partnered with the Jain Education & Empowerment Trust, a reputable implementing agency, to steer its Corporate Social Responsibility projects. This collaboration aims to ensure that the initiatives are not only well-executed but also resonate with the needs of the community.
Education for Empowerment
At the heart of WAAREE’s CSR endeavors is the ‘Promoting Education’ project, a significant initiative aimed at fostering education in the local areas of Maharashtra and Gujarat. By committing Rs. 12,50,001 to this project, WAAREE has reasserted its commitment to empowering communities through education. The project is meticulously executed through the Jain Education & Empowerment Trust, ensuring that the benefits percolate to the grassroots level.
A Testament to Compliance and Transparency
WAAREE has ensured strict adherence to the statutory requirements under section 135 of the Companies Act, 2013, with its CSR applicable, and financial parameters well within the stipulated criteria. The company’s turnover stands at a robust Rs. 341.72 Cr, with a net worth of Rs. 111.43 Cr. Furthermore, the ‘Promoting Education’ project is registered under CSR registration number CSR00005722, attesting to the company’s commitment to transparency and accountability.
Moving Forward with Purpose
As WAAREE Renewable Technologies Limited continues on its journey of social responsibility, it stands as a beacon of how corporate stewardship can bring about tangible, positive change in society. Through strategic partnerships, thoughtful initiatives, and unwavering commitment, WAAREE is indeed building a legacy of empowerment and sustainability for future generations.
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