Grundfos Pumps India Private Limited Corporate Social Responsibility Purpose Statement:
The Company shall seek to impact the lives of the disadvantaged by supporting and engaging in activities that aim to improve their well-being. We are dedicated to the cause of empowering people, educating them and in improving their quality of life.
While we will undertake programmes based on the identified needs of the community, education and healthcare shall remain our priority. Across the different programme areas identified by the company, it would be our endeavour to reach the disadvantaged and the marginalised sections of the society to make a meaningful impact on their lives.
We are committed to identifying and supporting programmes aimed at:
- Empowerment of the disadvantaged sections of the society especially in rural areas of the country through education, access to and awareness about financial services and the like;
- Provision of access to basic necessities like healthcare, drinking water & sanitation and the like to the under privileged;
- Work towards eradicating hunger and poverty, through livelihood generation and skill development;
- Supporting environmental and ecological balance through afforestation, soil conservation, rain water harvesting, conservation of flora & fauna, and similar programme;
- Undertake rural development projects;
- Any other programme that falls under our CSR purpose including those listed in schedule VII of the Companies Act, 2013 as may be amended from time to time and is aimed at the empowerment of disadvantaged sections of the society
1. The composition of the CSR Committee:
a) Mr. Ranganath N Krishna – Chairman
b) Mr. Safak Okay Barutcu - Member
c) Mr. Marco Benini - Member
2. Average net profits of the Company for the last three financial years Rs. 16,29,74,193/-
3. Prescribed CSR Expenditure (two percent of the amount as in Item no.2 above)
4. Details of CSR expenditure during the financial year 2016:
a) Total amount spent for the financial year
b) Amount unspent, if any
c) Manner in which the amount spent during the financial year is detailed below
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 were undertaken
Amount of outlay (budget) projects or programs wise
Amount spent on the projects or programs sub heads:
(1)Direct expenditure on projects or programs
Cumulative expenditure up to the reporting period
Amount spent direct or through implementing agency*
Promoting Sanitation in schools
Health & Hygiene
* Details of implementing agency
a) Ability Foundation
b) Chennai Heritage
c) Turning Point Education Trust
e) Madhi Foundation
f) Pragathi Pratishtan
g) Open India Charitable Trust
h) Hand in Hand India
i) Bhoomika Trust
j) Schools of Equality
k) V Excel Education Trust
5. In case the Company has failed to spend the two percent 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 Board’s Report.
Grundfos Pumps India Private Limited has spent a total amount of Rs. 38.95 lakhs as against the CSR commitment of Rs. 32.59 lakhs thereby meeting it’s commitment to the CSR expenditure for the financial year 2016.
6. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the Company.
To the best of their knowledge and belief and according to the information and explanations obtained by them, the Members of the CSR Committee make the following statement:
That the implementation of the CSR policy is in compliance with the CSR Objectives and Policy of the Company. The CSR projects undertaken during the year 2016 have focused on supporting education in line with priority of the CSR Objectives and Policy.