Corporate Social Responsibility Policy


MAY 2023



Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 and Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 (‘CSR Rules’), including any amendment thereof requires the Corporation to constitute a Corporate Social Responsibility (‘CSR’) Committee of Directors, adopt a CSR Policy, spend at least 2% of its average net profits made during the immediately preceding three financial years towards CSR activities as set out in Schedule VII to the Companies Act, 2013 and confirm compliance thereof in the Annual Report.

Accordingly, the Corporation has formulated and adopted this Corporate Social Responsibility Policy (‘CSR Policy’). The said policy was first approved and adopted by the Board of Directors at its meeting held on August 21, 2018. Pursuant to changes in the applicable law, this Policy was amended by the Board of Directors of the Corporation at its meeting held on May 5, 2023.



CSR is a company’s sense of responsibility towards the community and environment in which it operates. It is the continuing commitment by a business to behave ethically and contribute to the economic development of communities who are inequitably endowed.

The Company believes in conducting its business responsibly, fairly and in a transparent manner. It continually seeks ways to bring about an overall positive impact on the society and environment where it operates. The Company has been making consistent efforts over the years towards economic and social upliftment of the marginalized and vulnerable sections of society. The Board of Directors of the Company through its CSR Committee will plan and monitor the expenditure of CSR activities.

The CSR Committee will annually recommend the CSR programs and projects to the Board for its approval. The activities undertaken in the normal course of business will not be a part of CSR activities.



The main objective of this CSR Policy is to lay down guidelines to make CSR a key business process and support programmes aimed at development of communities who are inequitably endowed. It aims in enhancing welfare measures of the society based on the immediate and long term social and environmental consequences of the Company’s activities in India.

This Policy states the guiding principles for selection of CSR activities in pursuance of Schedule VII to the Companies Act, 2013, modalities of execution and implementation and monitoring mechanism of CSR projects/programmes.



The Company shall endeavor to spend in every financial year, at least 2% of its average net profits made during the 3 immediately preceding financial years, in pursuance of this CSR Policy and in the manner as specified in Section 135 of the Companies Act, 2013 and the Rules made thereunder from time to time.



    The Company shall conduct its CSR activities as laid down in Schedule VII of the Companies Act, 2013 and as approved by the CSR Committee of the Company. These activities will in turn focus on established need, sustainability and focused outcomes of the chosen sectoral themes.

    The Company shall not fund any CSR activities undertaken outside India or in pursuance of its normal course of business. The Company plans to focus its CSR initiatives and adopt a structured approach to the core areas of intervention undertaken across India, in line with the spread of its business & operations.

    The Company may also undertake CSR activities jointly with its group companies and/or other companies, where such a collaborative approach has clearly defined roles and responsibilities outlined of each company.



    The Company’s commitment to CSR projects and programs will be by investing resources into any of the following areas.

    1. Eradicating hunger, poverty and malnutrition, [‘‘promoting health care including preventive health care’’]and sanitation [including contribution to the Swachh Bharat Kosha set-up by the Central Government for the promotion of sanitation] and making available safe drinking water. 
    2. Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
    3. Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
    4. Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, Argo forestry, conservation of natural resources and maintaining quality of soil, air and water [including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga].
    5. Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts; 
    6. Measures for the benefit of armed forces veterans, war widows and their dependents, [ Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows];
    7. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports
    8. Contribution to the prime minister's national relief fund [or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)] or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
    9. Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and
    10. Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organization (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).
    11. Rural development projects
    12. Slum area development.
    13. Disaster management, including relief, rehabilitation and reconstruction activities.


    The Company may directly undertake the CSR activities as permitted under Schedule VII and approved by the CSR Committee or execute and implement CSR activities through any other implementing agency registered in India, having a valid CSR Registration Number granted by the Ministry of Corporate Affairs (MCA) and having track record of service, performance, governance and accountability.



    The Company’s CSR programmes will be identified and implemented according to the Board’s approved CSR Policy.



    The Board of the Company performs all the functions of CSR Committee. Section 135(9) of the Companies Act, 2013 provides for exemption from formulation of CSR Committee by a company if the amount to be spent by a company under sub-section 5 of that section does not exceed Fifty Lakh Rupees. Hence, the company, being eligible for exemption, has not formulated a CSR Committee separately.           


    • The budget for CSR initiatives shall be prepared in accordance with section 135 of the Companies Act, 2013 or other statutory enactments;
    • CSR Projects will be undertaken based to the best possible extent on the recommendation of the CSR Committee within the defined thrust areas;
    • Project support will depend on the scale of the project and its feasibility. The CSR Committee will evaluate the project progress;
    • All the identified activities will undergo pre & pro analysis. The CSR report shall also be included in the Boards’ report as required by the Companies Act, 2013;
    • Surplus arising out of CSR activity, if any, will not form part of business profits of the Company;
    • The corpus of the CSR Policy would include;
    • 2% of the average net profits
    • Any income arising therefrom
    • Surplus arising out of the above activities
    • Company may pool its resources and CSR spending with other groups or associate companies on such collaborative efforts which qualifies for computing the CSR spending;
    • All CSR activities covered under this policy shall be carried out within India



    The CSR Committee shall review the CSR Policy periodically and revise the same with the approval of the Board.

    The Company shall upload this Policy, and all other information as statutorily required on its website,