A. CSR Policy & Philosophy
Next Polymers Limited is committed to operate and grow its business in a
socially responsible way with a vision to be an environmental friendly
corporate citizen. CSR activities at NPL reflect its commitment to make
things happen at every project we undertake. We firmly believe that to
succeed, an organization must maintain highest standards of corporate
behavior towards its investors, stakeholders, employees and societies in
which it operates.
Constitution of a Corporate Social Responsibility Committee of the Board
and formulation of a Corporate Social Responsibility Policy has become
mandatory under the Companies Act, 2013. Accordingly, our Company has
formulated this CSR Policy which encompasses its philosophy and guides
its sustained efforts for undertaking and supporting socially useful
programs.
B. CSR Vision
The Company would follow "Collaborative Model" for empowering
communities and believes that for sustainable social intervention,
participation of communities/Government must be ensured in the
Company's CSR projects/programmes.
The Company would work with any other entity set up in accordance with
requirement of the Companies Act 2013 in close collaboration with
communities, like minded agencies and government for its educational,
vocational skills, women empowerment, preventive health programmes
and rural development
C. Thrust Areas
While we strive to undertake all or any suitable activity as specified in
Schedule VII to the Act, currently, we focus to support and implement the
following activities as our thrust areas;
- Providing emergency medical care, preventive health care, sanitization
and safe drinking water. (as per item 1 under Schedule VII of the
Companies Act, 2013)
- Promoting education to the under privileged children, supporting
socially backward people and helping the differently abled people. (as per
item 2 under Schedule VII of the Companies Act, 2013)
- Ensuring environmental sustainability, ecological balance, protection of
flora and fauna and conservation of natural resources. (as per item 4 under
Schedule VII of the Companies Act, 2013)
- Rural Development Projects. (as per item 10 under Schedule VII of the
Companies Act, 2013)
D. Implementation
The CSR Activities will be carried out around the areas of the Company's
manufacturing locations, offices viz Silvassa and Mumbai. This CSR Policy
will be implemented from the current Financial Year in which the Company
shows the net profits as per its audited annual financial statements. Based
on the net profits, if any, every year, the CSR Committee will identify the
CSR activities including the thrust areas, annual budget, planned
expenditure and implementation schedule etc.
E. Funding and allocation
Following is the mode of funding and allocation of area wise planned
expenditure for the CSR activities.
- The Company shall, in every financial year, contribute a statutory
minimum limit of at least 2% of its Net Profits for the CSR Expenditure
- The CSR Committee shall prepare its annual planned expenditure, for a
financial year, for the CSR activities including the thrust areas and manner
of implementation etc., and submit the same for approval of the Board
format.
F. Monitoring mechanism
The CSR Officer of the Company will coordinate / review the
implementation of CSR activities at various areas and report to the Board
through the CSR Committee. The CSR Committee shall meet at least once
in a year to monitor the implementation of CSR Plan and its activities. The
Committee shall ensure that the CSR Policy, as amended from time to time,
is displayed on the company's website.
The CSR Committee shall place before the Board, a draft annual report on
CSR activities as per the specified format, in a board meeting to be held in
April / May of the following year for Board's review and finalization. The
Board shall include in its report to the shareholders, the annual report on
CSR activities as per the format specified under the Rules.
G. Reporting format
Periodic reporting on the CSR activities, execution modalities,
implementation schedules etc., to the CSR Committee shall be in the
following format which may be amended by the CSR Committee from time
to time.
Sr.No. |
Company Initiative |
Schedule VII Activity |
Execution Details |
Budget (Rs.) |
Amount Spent (Rs.) |
Remarks |
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