Company Philosophy for CSR Policy:The Companies Act, 2013 had formally introduced the concept of Corporate Social Responsibility for the Indian Companies in the year 2014. CSR is an edge to Corporate Charitable / reformative approach towards the Society to which the Corporate is belonging to. By introducing the separate section for CSR in Companies Act, 2013, the Government has given legal recognition to their community development approach. The management of Group Pharmaceuticals Limited expresses its willingness and support to the CSR concept, its legal framework and shall be abided to it.
Corporate Social Responsibility Committee:The Company has constituted Corporate Social Responsibility Committee (“the Committee”) comprising of following three Directors out of which one Director is an Independent Director:
- Mr. Sunil Attavar – Chairman
- Mrs. Ann Valerie Sunil Attavar – Member
- Mr. Chirag Bipinchandra Vora – Member
- Promoting education, including primary, secondary and higher secondary education, as well as special education and employment enhancing vocation skills;
- Projects, Activities, Programs relating to skills development
Budget for CSR Activity & CSR Expenses:The Company shall allocate the budget for CSR activities. The minimum budgeted amount for a financial year shall be 2% of the average net profit of three immediate preceding financial years. The Company may allocate more fund/ amount than the amount prescribed under section 135 of the Companies Act, 2013, for the CSR activities for any financial year. The Committee shall calculate the total fund for the CSR activities and recommend to the Board for the approval. The Board shall approve the total fund to be utilized for CSR activity for respective financial year. CSR expenditure shall include all expenditure including contribution to corpus for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the approved CSR activities.
Identification of activities/ projectsOut of approved CSR activities, the Committee shall decide which activity/ project should be given priority for the respective financial year. While arriving at the decision of the activity to be undertaken for the respective year, the Committee shall analyze the basic need of the community/ area in which the Organization operates or at the place where its registered office is situated. The Committee shall record its findings and prioritize the CSR activities.
Implementation process:After prioritizing the activity the Committee shall finalize the detail implementation project/ programme, including planning for expenses against the total budget allocated for CSR activities.
Organizational Responsibility:At organizational level for implementation of agreed CSR activity, the committee may constitute an implementation team or authorized any of the Department of the Company to organize for the implementation of the CSR activity. The team or respective department shall monitor the implementation process from time to time, on behalf of the CSR committee and place a report to the Committee regarding the progress of the activity implementation, on a quarterly basis. The respective department or implementation team would be responsible for reporting of any irregularity to the Committee on immediate basis.
Monitoring by the Board:The Board of Directors shall constantly monitor the implementation of the CSR activities. The CSR committee shall place a progress report, including details of expenses, before the Board on quarterly basis. The Board shall review the same and suggest recommendation, if any, to the committee with regard to implementation process.
MoCompliance and Reporting to Board:nitoring by the Board:The Committee is responsible to undertake CSR activities as per the approved CSR Policy. Apart from quarterly reporting to the Board about the implementation of CSR activity, a detail report containing the implementation schedule, total budget allocated, actual expenses incur, surplus arising, if any, result achieved, further work to do in the concern CSR activity, Recommendation for the CSR activities for next year etc. should be placed before the Board for its consideration. Any surplus arising out of the fund allocated for CSR activity shall not be the part of the business profit of the Company.
Management Commitment:Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterized by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy. Our Corporate Social Responsibility policy conforms to the relevant section of the Corporate Social Responsibility, Rules made under Companies Act, 2013 and amendment(s) to be made thereto in future. The Company is contributing to sustainable development by its economic activities combined with the fulfillment of its social responsibilities relating to the education, health, safety and environment aspects at:
- Govt. Higher Primary School, Nosagere Village, Malur Taluk, 563130, Kolar Dist., Karnataka
- Zilla Parishad School, Kudan, Centre: Tarapur, Tal & Dist. Palghar
- Angels Orphanage, Opp. St Xavier’s School, Old Cemetery Road, Tasker Town, Shivajinagar, Bangalore 560051
We develop, manufacture, market and export a wide range of specialised and niche oral care products that cater to consumers with specific dental and oral conditions. We constantly renew our formulations to keep in times with science and updated research.