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Economic Performance
Corporate Social Responsibility
Citizen First
ITC’s overarching aspiration to create large scale societal value while simultaneously deliver shareholder value is manifest in the Company’s strategy to enhance the competitiveness of its value chains which encompass the disadvantaged sections of society.
In pursuance of the Company’s policy on Corporate Social Responsibility (ITC’s CSR Policy detailed in the Policies & Guidelines section of this Report), ITC has crafted innovative business models that create larger and enduring value by not only generating new sources of competitive advantage for its businesses, but also in the process augmenting natural capital and sustainable livelihoods for the nation.
| Rs. Crores | |||
| 2010-11 | 2011-12 | 2012-13 | |
| Corporate Social Responsibility spends* | 45 | 62 | 82 |
| Average Profit After Taxes for three immediately preceding Financial Years (FYs) | 3,482 | 4,104 | 5,070 |
| CSR spends as a % of Average Profit After Taxes for three immediately preceding FYs | 1.29% | 1.51% | 1.62% |
| *The definition of CSR has been aligned with the activities specified in Schedule VII of the Companies Bill 2012. Previous years’ figures have also been realigned to correspond with the current year’s disclosures. | |||
Contribution to Provident and Other Funds
Various CSR Activities
Various CSR activities in which the Company has been engaged during the current year are listed below:
| AREA | ACTIVITIES/INITIATIVES/PROGRAMMES |
| Eradication of hunger and poverty | Crop productivity improvement |
| Livestock/Dairy development | |
| Creation of sustainable livelihoods for the poor | |
| Promotion of Education | Promotion of Education |
| Promoting Gender Equality & Empowering Women | Promotion of women-based micro enterprises |
| Reducing child mortality & improving maternal health | Basic hygiene and sanitation improvement initiatives |
| Combating diseases | Health centres and camps |
| Ensuring Environmental Sustainability | Social and Farm Forestry |
| Soil and Moisture Conservation | |
| Solid Waste Management | |
| Promotion of sustainable business practices | |
| Employment enhancing vocational skills | Vocational/skills development |
| Social Business Initiatives | Farmer Knowledge empowerment through IT-enablement |
| Others | Promotion of Art and Culture |