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• •  The document describes the Corporate Social Responsibility Policy (“CSR policy”) of SKS Ispat and Power Limited (“Company”). It includes Company’s vision, mission and other relevant attributes of Corporate Social Responsibility.
• •  The CSR policy shall be guided by Company’s corporate philosophy of respect for the individual and the society at large.
• •  The CSR policy has been formulated in accordance with Section 135 of the Companies Act 2013 and the CSR Rules 2014 and the relevant amendments / notifications / circulars.
• •  The CSR policy shall apply to all CSR programs of the Company

Recognising that business enterprises are economic organs of society and draw on societal resources, it is SKS Ispat and Power Limited’s belief that a company's performance must be measured by its Triple Bottom Line contribution towards building economic, social and environmental capital. SKS Ispat and Power Limited believes that in the strategic context of business, enterprises possess - beyond mere financial resources - the transformational capacity to create game-changing development models by unleashing their power of entrepreneurial vitality, innovation and creativity. In line with this belief, SKS Ispat and Power Limited will continue crafting unique models which have a significant multiplier impact on sustainable livelihood creation and environmental replenishment. These initiatives are independent of the normal conduct of SKS Ispat and Power Limited’s businesses and are aligned to the activities listed in Schedule VII read with Section 135 of the Act and the CSR Rules.

Company is committed to build a sustainable business with strong social relevance and a commitment to inclusive growth and contribute to the society by supporting causes on various concerns including road safety, healthcare, environmental sustainability, promoting education, promoting sports and other rural development activities.

In pursuance of our vision that Company desires to be a ‘Company which society wants to exist’, we are dedicated towards fulfilling the social objectives through various CSR activities. The Company shall make its endeavour to positively impact and influence the Society for its sustainable development.

The Companies Act, 2013 has brought greater emphasis on CSR with rules that provide guidance on minimum CSR spend, focus areas, implementation mechanism and reporting to the shareholders of the company.

Company’s CSR Policy has been designed keeping in view the company’s business vision, its CSR vision and long-term social objectives that the company wants to achieve. The Company’s CSR Policy has been created with the purpose to outline its CSR focus areas, review mechanism, execution process and reporting mechanism.

The responsibility of the Board of Directors shall be as under:

1. a) To approve the CSR Policy & disclose the contents of such policy in its report and also place it on the Company’s website;
2. b) Ensure that the activities proposed in the CSR Policy are undertaken;
3. c) Ensure that the company spends, in every financial year, at least 2% of average net profits of the company made during the 3 immediately preceding financial years, as required under Section 135 of the Companies Act, 2013 & Rules made there under;
4. d) If company fails to spend the sum as mentioned above, then the Board shall, in its Report specify the reasons for not spending the amount.

Constitution of CSR Committee

A Corporate Social Responsibility Committee (“the CSR Committee”) has been constituted by the Board of Directors to oversee the CSR agenda of the Company. The committee has been formed as per the requirements of Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014.

Board of Directors shall be empowered to take decision for making or effecting changes in the constitution of the CSR Committee.

The composition of CSR Committee shall be disclosed in the Board of Directors’ Report.

The CSR Committee shall meet at least twice in a year. The meeting shall be held either at the registered office of the company or any other place, as may be decided by the members.

Physical presence of a minimum of two members of the committee shall constitute the quorum.

At least three days advance notice of every meeting, specifying the day, place and timing of Meeting and the general nature of the business to be transacted there at shall be given to the members. In urgency, a meeting may be convened by shorter notice.

The Company is hereby devoted to direct its CSR resources, to a reasonable extent, for improving the quality of life of the people by focusing on the social causes, including but not limited to the following areas:

1. i.  Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation, including contribution to the Swacch Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water;
2. ii.  Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
3. iii.  Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
4. iv.   Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water, including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga;
5. v.   Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;
6. vi.   Measures for the benefit of armed forces veterans, war widows and their dependents, Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows;
7. vii.  Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;
8. viii.  Contribution to the prime minister's national relief fund or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) or any other fund set up by the central Government for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, and other backward classes, minorities and women;
9. ix. nbsp;Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government;
10. x.  Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO); Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR), engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).
11. xi.  Rural Development Projects;
12. xii.  Slum area development and
13. xiii.  Disaster management, including relief, rehabilitation and reconstruction activities

Following activities shall be excluded from the CSR expenditure of Company:

1. a)  Activities which are exclusively for the benefit of employees of the company or their family members;
2. b)   Activities undertaken in pursuance of normal course of business of the Company;
3. c)   Direct or indirect contribution to political parties;
4. d)   Expenditure on item/s not in conformity with Schedule VII of the Companies Act 2013;
5. e)   Surplus arising out of CSR projects shall not form part of the business profits of Company instead the same will be further used for CSR purposes only.

Company will give preference to the local areas around its operations for spending the amount earmarked for CSR activities. Company’s operations are mainly concentrated in the following areas:

• •  State of Maharashtra
• •  State of Chhattisgarh
• •  Company may undertake CSR activities in any other area in India as may be decided, from time to time

The beneficiaries of Company’s CSR programs may be the following categories of people:

• •  Children/students
• •  Women
• •  Weaker sections of the society
• •  Others – society at large

The company may conduct / implement CSR programs by itself and/or through trusts, societies and / or section 8 (previously section 25) companies with an established track record of at least three years in carrying on activities in the related area/s or as suggested by Ministry of Corporate Affairs vide circulars/notifications.

The company may collaborate or pool resources with other companies to undertake CSR activities and any expenditure incurred on such collaborative efforts would qualify for computing the CSR spending.

The progress will be reported to the CSR Committee during the committee meetings. The progress on CSR programs undertaken by the Company will be reported in the Annual Report in the format prescribed by the CSR Rules 2014.

Format for Annual Report

The Company’s CSR Committee shall be responsible for day to day management of CSR related activities of the company. The team shall periodically report to the CSR committee regarding the financial and programmatic progress of CSR projects.

All projects undertaken by Company shall be monitored on a regular basis. On-site monitoring would also be undertaken at least once a year to ensure on-track implementation.

The CSR Committee shall be empowered to appoint an external third party to monitor / review / audit the progress (financial and programmatic) of the CSR projects.

The corpus for the purpose of carrying on the aforesaid activities would include the followings:

1. i 2% of the average Net Profits of the Company made during the three immediately preceding Financial Years (calculated in accordance with the provisions of Section 198, excluding any profit arising from any overseas branch or branches of the Company, whether operated as a separate Company or otherwise);
2. ii Any income arising there from; and
3. iii Surplus arising out of CSR activities carried out by the Company.

1. a)  Administrative overheads shall not exceed five percent of total CSR expenditure of the company for any financial year (or such percentage as may be prescribed by law from time to time).
2. b)  Any surplus arising out of the CSR projects or programs shall not form part of the business profit of the company and shall be ploughed back into the same project or shall be transferred to the Unspent CSR Account and spent in pursuance of this CSR policy and annual action plan of the company.
3. c)  Where the company spends an amount in excess of requirement provided under section 135(5)of the Act, such excess amount shall be set off against the requirement to spend under section 135(5)of the Act, up to immediate succeeding three financial years subject to the conditions that –

1. i  the excess amount available for set off shall not include the surplus arising out of the CSR activities; and
2. ii  the Board of the company shall pass a resolution to this effect.

“Unspent CSR Account” refers to an account opened as such by the Company with its Bank to transfer the amount remaining unspent at end of Financial Year which relates to any ongoing project.

This revised CSR Policy shall be effective from the date of its approval by the Board of Directors. This Policy document shall supersede the earlier CSR Policy. Provided, however, that all the acts done in pursuance of the earlier CSR Policy shall stand ratified and covered under this policy.

Any revision in the Policy shall be approved by the Board of Directors.

CSR POLICY APPROVED BY THE BOARD OF DIRECTORS ON 05TH APRIL, 2021 AT MUMBAI