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Maruti Suzuki reports over Rs. 168 Cr. investment in CSR in FY 2020
Maruti Suzuki India Limited spent over Rs. 168.2 Crore (Rs. 1,682 million) on Corporate Social Responsibility (CSR) projects in FY 2019-20, utilizing the full budget for the purpose, company’s annual report 2020 said.
The projects are undertaken through the Maruti Suzuki Foundation in association with various implementation partners.
Average net profit of the Company for last three financial years (2016-17, 2017-18 and 2018-19), calculated in accordance with the provisions of the Section 198 of Companies Act 2013 is Rs. 83,282 million (Rs. 8328.2 Crore). The prescribed CSR expenditure for financial year 2019-20 is Rs. 1,666 million. In 2019-20, the Company spent Rs. 1,682 million on CSR which is over two percent of the average net profit for 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 in the areas of community development, road safety and skill development, in alignment with the national human development priorities. It has a CSR policy which aims to create a meaningful and lasting impact in 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 first phase of the project with 50 beds is expected to be operational by April 2021. The facility is being developed in the partnership with Ramanbhai Foundation, Ahmedabad.
The Company is also setting up a school in Sitapur, Gujarat, in partnership with Podar Education Network. Its primary wing is expected to become functional from June 2021.
The facility, spread over 7.5 acres, will be one of its kind in the area with emergency care and super-specialty medical services. This project will supplement the Company’s onging efforts of supporting community health centers in villages through upgradation of medical infrastructure. Residential support facilities will be provided to the hospital staff. As per the annual report 2020, the Company recognizes the need to improve community health and lays special emphasis on health projects.
The Company’s CSR Policy aims to create a meaningful and lasting impact in the lives of beneficiaries. To achieve the desired impact, the Company allocates its resources in specific strategic areas rather than 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 in order to monitor implementation progress and the outcomes and impacts.
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