Maruti Suzuki reports over Rs 168 Cr investment in CSR in FY 2020
Maruti Suzuki reports over Rs 168.2 Cr investment (Rs. 1,682 million) on Corporate Social Responsibility (CSR) projects in FY 2019-20, utilizing the complete budget allow the aim, company’s annual report 2020 said.
The projects are undertaken through the Maruti Suzuki Foundation in association with various implementation partners.
The average net income of the organization for the last three financial years (2016-17, 2017-18, and 2018-19), calculated in accordance with the provisions of Section 198 of Companies Act 2013 is Rs. 83,282 million (Rs. 8328.2 Crore). The prescribed CSR expenditure for the fiscal year 2019-20 is Rs. 1,666 million. In 2019-20, the organization spent Rs. 1,682 million on CSR which is over two percent of the typical net income for the last three financial years.
The company has spent over Rs. 154.1 Crore on CSR activities in FY 2018-19.
The Company undertakes Corporate Social Responsibility (CSR) projects within the areas of community development, road safety, and skill development, in alignment with the national human development priorities. it’s a CSR policy that aims to make a meaningful and lasting impact within the lives of beneficiaries. The CSR Committee of the Board provides strategic direction to the Company’s CSR agenda and monitors outcomes and impacts of the initiatives.
Maruti Suzuki India Limited is developing a 100-bed hospital in Sitapur, Gujarat. the primary phase of the project with 50 beds is predicted to be operational by April 2021. the power is being developed within the partnership with Ramanbhai Foundation, Ahmedabad.
The Company is additionally fixing a faculty in Sitapur, Gujarat, in partnership with Podar Education Network. Its primary wing is predicted to become functional from June 2021.
The facility, cover 7.5 acres, is going to be one among its kind within the area with emergency care and super-specialty medical services. This project will supplement the Company’s ongoing efforts of supporting community health centers in villages through up-gradation of medical infrastructure. Residential support facilities are going to be provided to the hospital staff. As per the annual report 2020, the organization recognizes the necessity to enhance community health and lays special emphasis on health projects.
The Company’s CSR Policy aims to make a meaningful and lasting impact within the lives of beneficiaries. to realize the specified impact, the organization allocates its resources in specific strategic areas instead of spreading them thin over several areas. The CSR activities are undertaken in three areas namely community development, road safety, and skill development. All the projects undergo systematic assessments and reviews so as to watch implementation progress and therefore the outcomes and impacts.
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