Tatsat Chronicle Magazine

Pidilite Industries Spends Rs. 27.70 Cr On Corporate Social Responsibility Projects in FY22

July 13, 2022

The total amount spent by Pidilite Industries Limited between 2020 and 2021 was Rs 25.88 crore (Rs 24.81 crore for the financial year ended March 31, 2020).

The CSR spending for the year was Rs 27.70 crore or 2.56% of the average net profit of the last 3 financial years. The additional amount spent for the reported fiscal year was Rs 1.82 crore.

Pidilite Industries Limited spent Rs 1,081.46 crore on Corporate Social Responsibility (CSR) as a percentage of profit after tax (PAT).

The organization helps in the areas of education, health, agriculture and horticulture, Animal Husbandry initiatives, rural development, water resource management, sanitation, Initiatives for Women, agricultural producer organizations, skills development, transparency initiatives, khadi initiatives, etc.

As per Section 135 of the Companies Act, 2013, Pidilite Industries Ltd, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities.

The areas of CSR activities are the eradication of hunger and malnutrition, the promotion of education, industry and culture, health care, care and rehabilitation of the poor, environmental sustainability, relief in disasters and rural development projects.

The Company has established a CSR Committee in accordance with the law. The funds were initially allocated to a fund and used throughout the year in all those activities listed in Schedule VII of the Companies Act 2013.