CSR Policy

 

INTRODUCTION

  1. Hexagon Nutrition, Private Limited (HNPL) recognizes the importance of good corporate social responsibility in promoting and strengthening the trust of its shareholders and other stakeholders.
  2. The CSR Policy shall be guided by the Company’s corporate vision and the aspiration.
  3. The company’s CSR Policy has  been framed in accordance with Section 135 of the Companies Act 2013 and the rules framed thereunder. The Policy shall apply to all CSR programs undertaken/sponsored by the Company and shall be applicable for the Financial Year 2015-16 or until amended by the Board of directors on the recommendation of the CSR Committee.

 

CSR PURPOSE STATEMENT

To make a meaningful and measurable impact in the lives of underprivileged and vulnerable communities of the country by supporting initiatives aimed at creating conditions suitable for sustainable livelihood in these communities, reducing child mortality, improving maternal health, combating human immunodeficiency virus, acquired immune deficiency syndrome, malaria and other diseases; promotion of education.

 

CSR GUIDING PRINCIPLES

  1. We are committed to conducting our operations with integrity and respect, in the interest of our stakeholders, and in line with our Code of Business Principles.
  2. We believe growth and environmental sustainability need not be conflicting. Our business    model is designed to deliver sustainable growth. The inputs to the model are our brands, our people and  our operations. The outputs to the model are sustained growth, lower environmental  impact and positive social impact. The differentiator in our business model is our USLP and the goal of sustainable living.
  3. We collaborate and engage with different stakeholders including Governments, NGOs, Suppliers and Distributors to tackle the challenges faced by the society.
  4. In accordance with section 135(5) of the Companies Act, 2013 (the Act), HNPL is committed to spend at least 2% of its average net profits made during the three immediately preceding financial years in some of the identified activities that are listed in Schedule VII (as amended) to the act.

 

GOVERNANCE MECHANISM

We follow structured governance procedures to monitor CSR activities. Our CSR Policy is governed by the Board of Director of the Company duly aided by the CSR Committee.

The CSR Committee is headed by an Independent Director to ensure maximum transparency and fair-handed methods adopted. The Company further, reports its CSR Activities along with the details of the expenditure in its Board’s Report in accordance with the provisions of Section 134 of the Companies Act, 2013.

 

MONITORING AND REPORTING FRAMEWORK

The Company will institute a well – defined monitoring and evaluation mechanism to ensure that each CSR project has:

  • Clear objectives developed out of societal needs that are determined through baselines studies and research.
  • Precise targets, time lines and measureable parameters wherever possible.
  • A progress monitoring and reporting framework aligned to the requirements of Section 135 of the Companies Act.

 

BUDGET MONITORING

The company will establish an accounting system to ensure project-wise accounting of CSR spends.

 

REPORTING FRAMEWORK

The company will report on CSR performance in its annual report as per the structure and format prescribed in the notified CSR Rules.

The activities undertaken by the Company are not expected to lead to any additional surplus beyond what accrue to the Company in the course of normal operations.

The policy issued pursuant to the Corporate Social Responsibility Policy Rules, 2013 has been recommended by the CSR Committee of the Board and adopted by the Board of Directors in their Meeting held on 19th October 2015.

Our current CSR activities with their execution modalities and implementation schedules is appended below as Annexure A.

 

VALIDITY OF CSR POLICY

The committee may amended the CSR Policy as may be required from time to time.

 

 

Annexure A

 

CSR PROGRAMME AREAS

HNPL will support programs and activities in the following areas:

1. Wellness and Health care Education and promoting preventive health care:

To educate about essential nutrition to adults and children for the body and to promote measures and features of preventive health care for people of all age groups and across various sectors of the society.

2. Eradicating hunger, poverty and malnutrition:    

To undertake necessary steps and to reduce the level and cases of malnutrition and under nutrition in the society, by participating in the Social Programs organized by Government and Nongovernment bodies or by directly organizing

3. Promoting education and livelihoods enhancement projects to children and adults, including in the field of clinical nutrition and malnutrition.

4. Contribution or funds provided to technology incubators within academic institutions which are approved by the Central Government.

5. Any other activities, which may be permitted under Companies Act, 2013

 
 

TERMS OF REFERENCE FOR THE COMMITTEE ON CORPORATE SOCIAL RESPONSIBILITY (CSR)

 

I. Size

Three directors

Committee Members:

  1. Vijay Ramteke – Chairman
  2. Arun Kelkar – Managing Director
  3. Anuradha Kelkar – Director

II. Composition:

At least one director to be an independent director.

  1. Vijay Ramteke – Chairman
  2. Arun Kelkar – Managing Director
  3. Anuradha Kelkar – Director

III. Duties of the CSR Committee:

  1. Formulating and recommending to the Board, the Corporate Social Responsibility (CSR) strategy of HNPL including the CSR Policy and its implementation.
  2. Formulating and recommending to the Board, the CSR activities to be undertaken by the Company either directly or through any other and determining the CSR projects/ programmes which the company plans to undertake during the year of implementation, specifying modalities of execution in the areas / sectors chosen and implementation schedules for the same.
  3. Conduct an impact – assessment of initiatives undertaken and evaluate performance of the activities against the agreed targets.
  4. Review and monitor the compliance of initiatives undertaken and evaluate performance of activities against the agreed targets
  5. Conduct an impact–assessment of the various initiatives undertaken in terms of the CSR Policy at periodic intervals.
  6. Instituting a transparent monitoring mechanism for ensuring implementation of the Projects/ programmes / activities proposed to be undertaken.
  7. Reviewing and recommending the annual CSR report for the Board’s approval and for Public disclosure.
  8. Performing such other duties with respect to CSR activities, as may be required to be done under any law, statute, rules, regulations etc. enacted by Government of India or by any other regulatory or statutory body.

IV. Meetings

  1. The committee shall meet at half-yearly intervals and as and when required.
  2. The quorum shall be two members.