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About Us : Corporate Social Responsibility : CSR Policy
EMCURE PHARMACEUTICALS LIMITED
CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY


  •  1.  Introduction and Background

  •  2.  Our CSR Vision

  •  3.  Objectives of the Policy

  •  4.  Applicability

  •  5.  CSR Budget

  •  6.  Our CSR Strategy

  •  7.  CSR Committee

  •  8.  Implementation process

  •  9.  Partnership

  • 10.  Monitoring and Review

  • 11.  Reporting Mechanism

  1. INTRODUCTION AND BACKGROUND

    Emcure Pharmaceuticals Limited is a leading pharmaceutical Company in India. The Company has been socially responsible Company since inception, and has been contributing for the CSR activities to benefit the socially & economically disadvantaged communities even much before the enactment of mandatory Rules under the Companies Act, 2013. It is for the first time we have captioned the social and environment activities under the umbrella of Corporate Social Responsibility (CSR policy).

    The Company believes that while continuing to generate wealth for its shareholders, it is not only important to create value for its other stakeholders, but also to share it equitably with them. We are surrounded by society and environment and we insist on the principle that we should obey the duty to protect and nourish it. The prime duty of any corporate is to give back to the society and environment whatever it derives from. Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care.

    CSR is about making sure that organisations have a positive impact on the communities around them. We have a proud history of respecting the environment and supporting our local community. CSR is about being community minded, being responsible, and taking positive actions. This includes being responsible towards employees, customers, the environment, partners and the society at large. By adopting socially and environmentally responsible behaviour, businesses can make a significant contribution to boosting wealth creation and employment, fostering social justice and protecting the environment.

    This strategy confirms our commitment to being responsible and working with our communities to share the dividends.

  2. Our CSR Vision

    Emcure CSR actively is to contribute to the social and economic development of the communities in which we operate and to nourish the natural environment. In doing so, build a better, sustainable way of life for the society and environment as a whole.

  3. Objectives of the Policy

    The objectives of this policy are to-

    • Demonstrate commitment to the common good through responsible business practices and good governance

    • Set high standards of quality in the delivery of services in the social sector by creating robust processes and replicable models

    • Engender a sense of empathy and equity among employees of Emcure to motivate them to give back to the society

  4. Applicability

    1. Emcure (hereby referred to as the Company) CSR policy has been developed in consonance to Section 135 of the Companies Act 2013 (referred to as the Act in this policy) on CSR and in accordance with the CSR rules (hereby referred to as the Rules) notified by the Ministry of Corporate Affairs, Government of India in 2014.

    2. The Policy shall apply to all CSR projects/programmes undertaken by the Company in India as per Schedule VII as may be modified from time to time and respective circulars, notifiactions issued by the Ministry.

  5. CSR Budget

    CSR Committee will recommend project wise annual budgeted expenditure to the Board for its consideration and approval.

  6. Our CSR Strategy

    For Emcure, CSR means doing everything we can to be a good corporate citizen. The CSR strategy confirms our commitment to acting responsibly and sustainably whilst delivering high quality services. By including existing organisational objectives, we recognise that we are not starting from nothing. We have already been managing our social, environmental and economic impacts in different ways. This is, however, the first time that all of these objectives have been unified with new objectives under the CSR umbrella.

    Our aim is to maintain strong ethics, manage our environmental impacts and support the local community and we will develop these aims by focusing on Economy, People, Communities and Environment.

  7. CSR Committee

    • The CSR committee will consist of three or more directors of which, atleast one will be an independent director.

    • The CSR committee of the Company will be responsible for:

      • formulating the CSR policy in compliance to Section 135 of the Companies Act 2013.

      • identifying activities to be undertaken as per Schedule VII of the Companies Act 2013.

      • recommending to the Board the CSR expenditure to be incurred.

      • recommending to Board, modifications to the CSR policy as and when required.

      • regularly monitoring the implementation of the CSR policy.

  8. Implementation process

    The Company’s CSR programmes will be identified and implemented according to this CSR policy. The Company has CSR Committee whose primary mandate is to formulate, monitor and periodically review the Sustainable Development and CSR Policy for the Company. All projects are identified after a through interaction within the CSR Committee, with specific purpose and after assessing the basic needs of the society. The focus areas are Education, Health care, Sustainable livelihood, Infrastructure development, and espousing social causes. All employees are expected to adhere to and comply with the Sustainable Development and CSR policy and its individual elements.

    Following activities are eligible for Emcure CSR:

    1. Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and 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, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;

    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 arts and handicrafts;

    6. Measures for the benefit of armed forces veterans, war widows and their dependents;

    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 any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;

    9. Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

    10. Rural Development projects;

    11. Slum area development;

    12. Contribution to Corpus of trust/ Society/Section 8 Companies etc. provided that:

      • trust/ Society/Section 8 Companies etc. is created exclusively for undertaking CSR activities; and

      • the Corpus is created exclusively for a purpose directly relatable to a subject covered in schedule VII of the Act.

  9. Partnership

    It is important to measure our performance to make sure that our corporate social responsibility programme is delivering its aims and objectives and to make sure that the results of our work are accountable and transparent. We will develop a robust action plan which translates our vision, aims and objectives into measurable activities and targets.

    The Company is planning to tie up with various NGO’s for CSR activities. This helps widen the Company’s reach and leverage upon the collective expertise, wisdom and experience that these partnerships bring to the table.

  10. Monitoring and Review

    The Sustainable Development and CSR policy shall be periodically reviewed and appropriately revised by the CSR Committee. Wherever applicable, the Company shall organize periodic audits at selected sites at random to check performance.

    The Company shall ensure continual improvement of environmental performance by integrating environmental principles, programs and practices into the business.

  11. Reporting Mechanism:

    Emcure will place a detail report of its CSR initiatives in the Director’s Report (in the following format) as well as on the website viz. www.emcure.co.in

    1. A brief outline of the company’s CSR policy including the statement of intent reflecting the ethos of the company, broad areas of CSR interest and an overview of activities proposed to be undertaken.

    2. Providing the web-link to the CSR Policy. The Policy should include the full list of projects / activities / programmes proposed to be undertaken by the company.

    3. The composition of the CSR Committee.

    4. Average Net Profit of the company for last 3 financial years

    5. Threshold Limit-(2% of this amount as in 4 above)

    6. Details of CSR activities/projects undertaken during the year:

      • total amount to be spent for the year.

      • amount spent during the year as below.

        1. 2. 3. 4. 5. 6. 7. 8.
        Sr No. CSR project /activity identified Sector in which the Project is covered Projects/Programmes
        1.Local area/others-
        2.specify the state /district (Name of the District/s, State/s where project/programme was undertaken
        Amount outlay (budget) project/programme wise Amount spent on the project/ programme Subheads:
        1.Direct expenditure on project,
        2.Overheads:
        Cumulative spend upto to the reporting period. Amount spent:
        Direct/through implementing agency
        1.
        2.
        3.
        TOTAL

    7. In case the company has failed to spend the 2% of the Average Net Profit (INR) of the last 3 financial years, please provide the reasons for not spending the amount.

    8. A Responsibility statement, of the CSR Committee, that the CSR policy implementation and monitoring thereof is, in letter and spirit, in compliance with CSR objectives.

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