CORPORATE SOCIAL RESPONSIBILITY (CSR)

Policy Objectives

• This Corporate Social Responsibility (‘CSR’) Policy which encompasses the Surya Herbal Limited’s philosophy towards corporate social responsibility, lays down the guidelines and mechanism for undertaking socially relevant programs for sustainable development of the community at large and complying with all the local regulations in that regard, is titled as the ‘CSR Policy for Surya Herbal Limited'.
• Surya Herbal Limited is further institutionalizing its commitment at being a socially responsible entity with an aim of sustainable development of the society. The purpose of this policy is to define the Company’s vision for CSR and its guiding principles, governance structures, strategy and program selection criteria.

Applicability

This policy is applicable to all the Corporate Social Responsibility (CSR) initiatives taken by the Company.
 

• The company may have a direct engagement strategy, to be conceptualized and executed directly through a team of professionals or through Register Trust / Registered Society or through a company established under section 8 of the Companies Act 2013, established by the Company from time to time. The Company may also collaborate with other entities under the same management / any other entities for undertaking project or programs or CSR activities.
• The Company may decide to undertake its CSR activities approved by the Board of Directors’ on recommendation of the CSR committee through a registered trust, a registered society or a Company established under section 8 of the Company Act 2013, established jointly by the company, in collaboration with any other company.
• The Company may decide to undertake its CSR activities approved by the Board of Directors’ on recommendation of the CSR committee, through a company established under section 8 of the Act or a registered trust or a registered society which has requisite experience and track record as required under section 135 of the Companies Act 2013 read with schedule VII as amended from time to time along with applicable rules, notifications, circulars, clarifications issued in this respect by the concerned competent authorities.

Preambles

• The Company believes in building sustainable communities that are economically, environmentally, and socially healthy and resilient.
• It aims/plans to offer integrated solutions to achieve this, and focus on areas such as:
  • Education
  • Water & Sanitation
  • Old Age Care
  • Health Care
  • Livelihood Enhancement & Skill Development and
  • Any other relevant programs as per the need of the community for sustainable impact (in the area or subject, specified in Schedule VII referred to in Section 135 of the Companies Act, 2013).

CSR Vision

To build sustainable communities by leveraging resources & network

Guiding Principles
 

• Integration of indigenous knowledge & culture
• Promotion of Local Economy
• Conservation of Ecology
• Maximization of Community Ownership

Program Selection Guidelines/Focus areas of Engagement

• The Company intends to offer integrated solutions for sustainable impact in the field of :
  • Education : to provide better quality of education to the needy section of the society through schools and after school learning programs.
  • Water & Sanitation : to address the challenges of water scarcity through watershed development and rainwater harvesting programs and to improve the safe drinking water & sanitation situation in the community.
  • Old Age Care : Old Age Care to create infrastructure and provide a comfortable and supportive environment where individually, dignity and quality of life are paramount to senior citizen. To provide shelter and care to the Senior Citizens of the society including:
  • Food, Utility services
  • Medical care and Preventive Care
  • Educational & recreational facilities.
  • Health care to provide the basic health services to the remotely & less served people along with preventive measures.
  • Livelihood Enhancement to improve the economic condition of women, farmers and youth by improving skills, facilitating support network and establishing market linkages.
  • Skill Development to provide the employable skills to the youth through various capacity building programs.
• The Company will not contribute any amount directly or indirectly to any political party or religious organisation as part of its CSR activities.
• The Company may also from time to time invest in the other need based programs as stated in Schedule VII of the Companies Act 2013, duly recommended by CSR Committee and approved by Board of Directors.
• The Company may engage employees, business experts and other such stakeholders to achieve its CSR vision.

CSR governing body structure

The company has put in place the governance structure to ensure that CSR policy is implemented and monitored effectively.

A Board level Corporate Social Responsibility (CSR) Committee will be formed to:

• Recommend a Corporate Social Responsibility Policy to Board. This policy shall indicate the activities to be undertaken by the company in areas or subject, specified in Schedule VII as amended from time to time.
• Recommend the amount of expenditure to be incurred on the above to Board.
• Monitor the Corporate Social Responsibility Policy of the Company from time to time.
• Developed and review Company’s CSR Strategy and Process.

Further to strengthen the CSR Committee, a Corporate Social Responsibility (CSR) department has been established by the company with a responsibility to review & guide the annual business plan, programme implementation, monitoring & evaluation and further impact assessment of all CSR Projects/Programmes.

Financial Allocation

• CSR Committee will be allocated in every financial year, at least 2% of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy for the programs mentioned above.
• The board shall approve overall limits for CSR Activities to be undertaken by the company. Within the overall limits approved by the Board, the CSR Committee shall approve individual projects/programs including contribution towards the Corpus Fund.
• All CSR projects/programs under this policy shall be undertaken in India. The CSR Committee shall decide on locations for implementation of the projects/ programs.
• Any surplus or income arising out of the CSR programs or projects activities shall not form part of business profit of the company, and will be invested in CSR activities.

Monitoring & Evaluation Mechanism

The CSR program will be monitored by the CSR department of the company, CSR department may:

• Appoint agencies or consultants or internal resource for the monitoring purpose.
• Undertake assessment as and when needed, in order to evaluate the social impact of its CSR programs on the communities. This will also help the company to obtain learning which will help increase program efficiency and scalability.
• After completion, appoint various independent agencies to evaluate the impact of the program.
• Implementing Agencies will submit quarterly progress reports and periodic evaluation reports (Project tracking as well as financials) to CSR committee to review the program and projects.

Reporting & Communications

• The company will incorporate the details of CSR activities, in the prescribed format in the annual report of the company. The CSR activities and CSR expenditure (all expenditure including contribution to corpus, or on projects or programs relating to CSR activities) will also be reflected in the Board’s Report/ Annual accounts of the company under the head ‘CSR Expenditure’ and will be mentioned in the Director’s report.
• The contents of the CSR Policy shall be disclosed in the Board’s report and displayed at the company’s website.
• The company will communicate its CSR initiatives and efforts to all stakeholders through website and other appropriate communication channels.