In the current Fiscal Year, Vedanta Limited has spent ₹309 crores on its Corporate Social Responsibilities (CSR) and social investments. The money has been spent across 1,169 villages and benefited nearly 3.1 million people.
Vedanta has a large and complex CSR portfolio with multiple projects running across various locations which include: children’s well-being & education, women empowerment, health care, drinking water & sanitation, agriculture & animal husbandry and many more. The recent expenditure is 26% more than the previous year’s ₹244 crores.
As per the Integrated Annual Report for the Year 2018-19, the average net profit of the Company for the last three financial years is ₹659 crores. According to the average net profit of Vedanta Limited for the last three financial years, it is supposed to spend ₹13 crores on its social responsibility activities.
According to their CSR policy, to carry out their initiatives the company has been partnering with government agencies, development organizations, civil societies, community-based organizations and corporates.
In the second integrated report, the company informed that the CSR Committee was setup to formulate and monitor the CSR Policy of the Company along with recommending the CSR Budget.
“The year included the milestone inauguration of our 500th ‘Nand Ghar’. These community resource centers are especially created for women and their children, providing everything from nutritious meals and healthcare to safe play areas and e-learning resources. This is just the beginning as we have budgeted to invest ₹800 crore to set up a network of 4,000 Nand Ghars across India”, stated Navin Agarwal, Chairman of Vedanta Limited.