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Corporate Social Responsibility Policy (CSR)

Preamble:

In today’s context, the ‘Corporate Social Responsibility ‘ (CSR) is defined as a mandatory way for a Company to balance its Economic, Social and Environmental objectives while enhancing the Shareholders’ value and Stake holders expectations.

But Shree Digvijay Cement Co. Ltd. (SDCCL) has engaged itself towards this journey since its inception in the year 1945 – long before the mandatory concept emerged as recordable obligations under the Companies Act, 2013 on this front.

SDCCL established its business in the very remote area prior to Independence era and is privileged and honored as one of the only Cement plants sustaining in this country – located at the erstwhile princely state of Saurashtra. This was evident from the development took place in the nearby areas, the various earliest initiatives taken by SDCCL in community development back to the year 1950, in villages on the outskirt of Jamnagar district (then known as Navanagar state).

SDCCL was the first industrial company who started providing free drinking water, free medical amenities with free service of Maternity and Child Health – not only to its employees but to all the villagers, whosoever residing in the radius of more than 15 KMs. The concept of Co-operative activities under various segments, including cheapest transport facilities approaching to the nearest City to everyone for emergency needs was implemented by SDCCL way back in early 1966’s.

Free education up to Secondary level, developing Technical School solely run by SDCCL has delivered number of Engineers, Doctors, Technicians etc. to the country and ample opportunities for self - employment to the nearby villagers.

SDCCL had contributed and still contributing towards development of public facilities like opening of Education Centers, Heath Centers, improvement in living standard and upliftment of communities comprising weakest section of Rural section with no access to basic amenities.

SDCCL Vividhlakshi School at Jamnagar, Vedic Patha-shala at Dwarka, overhead water tanks at Dwarka, free supply of drinking water in nearby areas throughout the year, basic and higher education at SDCCL Public School at very discountable rates are some of the welfare activities being undertaken by SDCCL as a part of its CSR.

SDCCL aims to remain essential to the society with its social responsibility, strongly connected with the principle of sustainability, an organization based not only on financial factors, but also on the social and environmental consequences. It is responsibility of SDCCL to practice its corporate values through its commitment to grow in a socially and environmentally responsible way, while meeting the interest of the Stakeholders.

SDCCL, in today’s context is regularly working in the areas of Education, healthcare by regularly conducting Medical camps, Rural Education and Awareness programs from time to time benefitting to the residents of nearby areas.

Under Section 135 of the Companies Act, 2013, and to demonstrate the responsibilities towards Social upliftment in structured way, following Policy is formed to conduct the tasks under CSR:

POLICY:

‘Corporate Social Responsibility Policy’ of SDCCL

OBJECTIVE :

To formulate defined policy to attain and accomplish the Company’s Social Responsibility as defined under Schedule VII read with Section 135 of the Companies Act, 2013 and to meet the requirements thereof.

DEFINITIONS :

  • Activities – Various activities which may be included by the Company in CSR Policy as detailed under Schedule VII of the Companies Act, 2013.
  • Board – Board of Directors of the Company.
  • Corporate Social Responsibility (CSR) - As defined under Section 135 of the Companies Act, 2013.
  • CSR Committee – The committee formed by the Board of Directors of the Company.
  • CSR Policy - Policy formulated which shall indicate the activities to be undertaken by the Company.
  • Financial Year – Period ending on 31st December every year for the Company.
  • Independent Directors – As detailed under Section 2 (47) of the Companies Act, 2013.
  • Profit – Profit calculated in accordance with the provisions of Section 198 of the Companies Act, 2013.

CSR POLICY & APPLICATION

CSR Policy shall come into force from the date of approval by the Board of Directors of the Company on recommendations by CSR committee.

MEMBERS OF THE COMMITTEE :

As per the provisions of Section 135 (1) of the Companies Act, 2013, the committee is comprising of the following Directors as its members as nominated by the Board :

  • Mr. A. K. Chhatwani : Independent Director
  • Mr. Kumaresan A. : Independent Director
  • Mr. KK Rajeev Nambiar : CEO & Whole Time Director

Mr. Suresh Meher, Company Secretary will act as Secretary of the Committee.

Activities to be undertaken by the company under CSR Committee:

Initial thrust shall be on following activities to be undertaken by the Company:

  • Promotion of Education and education facilities up gradation.
  • Promoting Gender equality and empowering women.
  • Combating human immune – deficiency virus acquired immune deficiency syndrome, malaria and other disease.
  • Ensuring environmental sustainability.

An overall amount to be spent on above activities would be at least Two percent of the average Net Profit of the Company made during the immediately preceding financial year. The Executive Committee shall work on the above activities and will spend the amount under approval of the Whole Time Director. Any surplus arising out of CSR Projects or Programs or activities shall not form part of the business profit of the Company.

The Executive Committee shall keep proper records of the activities undertaken, amount spent and number of population covered as beneficiary under each activity.

The Executive Committee shall give its Report on quarterly basis to the Company Secretary who will place the same before the CSR Committee at regular interval.

The CSR Committee shall monitor the policy from time to time and shall put the same before the Board for the purpose of reporting to Shareholders under Section 134 (3) (o) of the Companies ACT, 2013. Audit of the expenses incurred on CSR activities shall be carried out by interim CFO & Company Secretary and shall be placed before the Committee from time to time.

The Executive Committee to give preference to the local areas around the Company where it operates for spending the amount earmarked for CSR activities.

This CSR Policy is approved by the Board of Directors of the Company in their meeting held on 12th November, 2014 on the recommendation by the CSR Committee.