The Company is committed to building a responsible and sustainable business that benefits society.
Total Spending on Corporate Social Responsibility (CSR) of Apollo Tyres Limited as percentage of profit after tax (%) was 18.71 Crores for the year 2021-22. The company has a legacy of over 110 years in India.
Average net profit of the Company as per Section 135(5): Rs. 819.4 Crores
Two percent of the average net profit of the Company as per Section 135(5): Rs 16. 38 Crores
Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Rs. 2.32 Crore
Also Read: ESG: Apollo Tyres to become carbon neutral by 2050, Says Onkar Kanwar, CMD
Total CSR obligation for the financial year: Rs. 18.71 Crores
Total Amount spent for the financial year: Rs. 18.71 Crores
Onkar Kanwar, Chairman and Managing Director of Apollo Tyres Ltd also chairs the CSR Committee.
Its CSR initiatives are designed to cater to the needs of the community, while positively impacting its stakeholders – employees, customers, dealers, suppliers and communities, around its manufacturing locations, every day.
All CSR initiatives are implemented through Apollo Tyres Foundation (ATF) and aligned to National and Sustainable Development Goals (SDGs).
In addition to the core themes, it conducts local initiatives within a 25-30 km radius of its manufacturing locations.
These are Watershed Management and Renewable Energy Proliferation projects.
As of March 31, 2022, it has reached out to nearly 8.47 million beneficiaries since the inception of CSR programs.
The company has a target to reach out to nearly 11 million beneficiaries by 2026.
Also Read: CSR: Vedanta Spends Rs. 399 Crores on Community Development in FY 2022
Under the community development theme, the focus has been around aiding the livelihood and enhancing income generation for women and farmers to improve farming practices.
During the fiscal, over 2,700 rural women received income generation training and over 5,000 women were linked with various government welfare schemes and availed of benefits worth Rs. 3.7 crores.
During the year under review, the Company has carried out activities primarily related to promoting preventive healthcare, ensuring environmental sustainability, livelihood enhancement projects, rural development projects, promoting education and eradication of hunger, poverty & malnutrition.
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