Corporate Social Responsibility (CSR) Policy
1. Introduction
Corporate Social Responsibility (CSR) is the Company’s commitment to conducting business in an economically, socially, and environmentally sustainable manner while maintaining transparency and ethical practices.
Polyfit Fabricators Private Limited (PFPL) is committed to undertaking CSR activities in accordance with Section 135 of the Companies Act, 2013 and the Companies (CSR Policy) Rules, 2014, as amended from time to time.
PFPL believes that sustainable growth goes hand in hand with environmental stewardship, social responsibility, and creating a positive impact on employees, customers, and the communities where it operates.
2. Aims & Objectives
- Develop a long-term CSR vision and strategy.
- Identify CSR activities aligned with Schedule VII of the Companies Act, 2013.
- Promote sustainable projects with measurable outcomes.
- Support deserving communities and beneficiaries.
- Establish effective implementation and monitoring mechanisms.
3. Applicability
This Policy applies to all CSR activities undertaken directly by PFPL or through approved implementing agencies and is effective from 1st April 2022.
4. CSR Activities
| Core Area | Illustrative Activities |
|---|---|
| Education & Skill Development | Scholarships, teacher training, school infrastructure, sports, vocational training. |
| Health & Nutrition | Preventive healthcare, cancer screening, maternal & child nutrition, sanitation, drinking water. |
| Livelihood Enhancement | Self-help groups, women entrepreneurship, skill centres, rural development. |
| Environment & Sustainability | Tree plantation, waste management, renewable energy, biodiversity restoration. |
| Teacher Development | Capacity-building workshops for teachers from rural and low-income schools. |
| Digital Learning | Smart classrooms, digital devices, e-learning support. |
| Infrastructure Support | School sanitation, libraries, laboratories and educational facilities. |
| Inclusive Education | Support for differently-abled children through special education initiatives. |
PFPL may also undertake other CSR activities in accordance with Schedule VII of the Companies Act, 2013, with preference given to local communities around its operations.
5. Committee Composition
The CSR Committee shall consist of at least two Directors as required under the Companies Act, 2013. Members may be replaced by the Board whenever necessary.
Currently, PFPL is not required to constitute a CSR Committee as the CSR expenditure remains below the prescribed threshold.
6. Responsibilities of the Board
- Approve the CSR Policy and CSR expenditure.
- Ensure statutory CSR spending requirements are fulfilled.
- Ensure CSR activities comply with Schedule VII.
- Disclose the CSR Policy on the Company’s website.
- Include CSR disclosures and annual reporting in the Board’s Report.
7. Implementing CSR Activities
- CSR activities may be implemented directly or through eligible NGOs and implementing agencies.
- Employee participation may be encouraged through awareness initiatives.
- PFPL may collaborate with other companies for CSR projects.
- Activities outside Schedule VII, normal business operations, employee-only benefits, and political contributions shall not qualify as CSR.
8. CSR Reporting
The Board shall include details of CSR activities in its Annual Report in the prescribed format. The CSR Committee shall provide a responsibility statement confirming proper implementation and monitoring of CSR initiatives.
Any shortfall in CSR spending shall be disclosed in the Board’s Report along with the reasons.
9. Amendment of Policy
The CSR Policy may be amended by the Board based on recommendations from the CSR Committee. Any statutory amendments or regulatory changes shall automatically prevail over this Policy from their effective date.
