|A brief outline of the Company’s CSR policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR policy and projects.||The Company’s CSR policy attempts to supplement the efforts of the Government in equitably delivering the benefits of growth and attempts to strike a balance between developmental growth and welfare based development. The Company’s CSR activities broadly relate to:
|The Composition of the CSR Committee||Smt.Irmgard Velagapudi M.Rao – Chairperson Sri.Vinod R.Sethi – Member Sri.K.A.Rangaswamy – Member Sri.M.S.V.M.Rao – Member.|
|Average net profit of the Company for last three financial years (Amount in Lakhs)||Rs.4243.54 lakhs|
|Prescribed CSR Expenditure (two per cent of the amount as in Item 3 above) (Amt in Lakhs)||Rs.84.87 Lakhs|
|Details of CSR spent during the financial year.|
|(a) Total amount to be spent for the F.Y.||Rs.15.00 Lakhs|
|(b) Amount unspent, if any;||Rs.69.87 Lakhs|
|(c) Manner in which the amount spent during the financial year.|
|S.No.||CSR project or activity identified||Sector in which the project is covered||Projects or Programs (1) local area or other (2) Specify the state and district where projects or programs was undertaken||Amt. Outlay (budget) project or program-wise (Rs./Lakhs)||Amt spent on the projects or programs Sub-heads: (1)Direct expenditure on projects or programs (2) Overheads||Cumulative expenditure upto the reporting period||Amount spent: Direct or through implementing agency.|
|1.||Promotion of Health care / sanitation||Health and Sanitation||Vuyyuru, Krishna Dist., Andhra Pradesh||20.00||NIL||NIL||—|
|2.||Environmental sustainability||Ensuring pollution-free environment||Vuyyuru, Krishna Dist., Andhra Pradesh||25.00||15.00||15.00||Through Rotary Community Service Trust|
|3.||Promotion of Education and enhancement of vocational skills.||Education.||Vuyyuru, Krishna Dist., Andhra Pradesh||25.00||NIL||NIL||—|
|4.||Eradication of poverty and ensuring better living conditions.||Economic and social equality.||Vuyyuru, Krishna Dist., Andhra Pradesh||15.00||NIL||NIL||—|
6. In case the Company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board Report.
A major hindrance in developing long-term projects under CSR is the uncertainty in the CSR budget which purely depends on the financial performance of the Company. The continuous downward trend in sugar price since the second quarter of the financial year coupled with high cost of production witnessed by the sugar industry throughout India, has jeopardised the proposed programs under CSR. In view of the financial constraints the Company was restrained from spending on various CSR activities though the Company’s intentions were to implement the CSR programs and lending a helping hand to Government.
7. The CSR Committee confirms that the implementation and monitoring of the CSR Policy is in compliance with the CSR objectives and policy of the Company