Corporate Social Responsibility Policy
Vision of Ferromatik Milacron India Private Limited is to run our business to produce an overall positive impact on the society on a continuous basis by contributing for the Economic Development and betterment of quality of life for all our stakeholders. As a Corporate entity, we are thoroughly aware of our social responsibilities and are committed towards sustainability. The Company endeavors to make Corporate Social Responsibility (CSR) a key business process for attaining its CSR objectives. Our main objective under CSR policy is to actively contribute to the social and economic development of the communities in which we operate.
FMIPL's Approach for CSR
- FMIPL is committed to undertake CSR activities in accordance with the provisions of Section 135 of the Indian Companies Act, 2013 and related Rules.
- To pursue CSR Programmes primarily in areas that falls within the economic vicinity of FMIPL's operations to enable close supervision and ensure maximum development impact. Community around the Company expects employment, development of infrastructure, care for the environment, educational institutions and other developmental activities from the Company operating around them. Beneficiaries of CSR activities develop a positive attitude towards the Company and help in promoting the brand value or goodwill of the Company
- Volunteering for projects that address the felt need of those areas in which FMIPL operates while adhering to the core CSR objectives and plans
- Partnering with select non-government and social welfare organizations for achieving FMIPL's CSR objectives
CSR Policy & Guiding Principles
FMIPL's CSR policy is to undertake / provide support in the following activities as permitted from time to time under schedule VII of Companies Act 2013.
- Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water;
- Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water;
- 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;
- Measures for the benefit of armed forces veterans, war widows and their dependents;
- Training to promote rural sports, nationally recognized sports, paralympic sports and Olympic sports;
- Contribution to the Prime Minister's National Relief 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, other backward classes, minorities and women;
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;
- Rural development projects.
Implementation of CSR Activities
Company will implement is CSR activities in either or / all of following ways,
- Company will implement CSR activities as per its policies decided by its Board either directly or through Trusts/Societies or section 8 Companies (Companies with charitable objects etc.) operating in India and set up by it
- Companies have also option to take up CSR activities through entities specified above but not set up by it. It will further ensure that these entities must have an established track record of at least 3 years in the line. The CSR Committee shall specify the tasks to be undertaken by such external agency, which may be undertaken in accordance with the policy and processes of such agency. However company will ensure the monitoring of these activities and maintain records of such monitoring.
- Companies can also collaborate with other Companies in their CSR projects but those Companies' committees must report CSR activities CSR as per Rules.
Employee participation is an equally important part of developing responsible citizenship. FMIPL encourages and motivates its employees to spend time volunteering on CSR issues of their interest
CSR Plan of Action
The CSR Committee shall formulate a CSR Plan listing out the programmes to be undertaken and specify time frame & budget for such programmes. This CSR Plan is a part of the CSR Policy and may be amended by the CSR Committee as and when necessary. The Board will then consider and approve the CSR Plan with or without any modification thereof.
The Broad Guidelines shall be as under:
Contribution to the Hospital run by VIA / any charitable trust located in and around the vicinity of the company
- Medical Equipments
- Beds and mattresses
- Regular visit by Doctor
- Distribution of basic medicines
- Sponsor Health Camps
- Distributing booklets on personal Hygiene
Providing training and skill development opportunities to students and industrial workers who deserve but lack proper financial support
- ITI CNC Machining and fitter courses
- Industrial Visits
- Spreading awareness about industry requirements
Focus on educating the underprivileged children by providing appropriate infrastructure, and groom them as future value creators.
- Providing books, stationery and computers etc.
- Providing teachers
- Providing other infrastructure to Municipal Schools.
- Spread awareness amongst parents
To spread awareness about sanitization and provide sanitation facilities in slum areas thereby helping the people residing there to improve health conditions
- Vaccination Camps
- Spreading awareness on Personal Hygiene
- Building Toilets
Relief measures during Natural Disasters
To respond and provide timely help to the affected victims and families during national crisis, natural disasters or any emergency situations of similar nature
- Contribution to Disaster Relief Funds
Budget - Expenditure
In every financial year, FMIPL shall spend a minimum of 2% of its average Net Profits in the immediately preceding three (3) financial years. Average Net Profit shall mean the Net profits of the Company as per the Profit & Loss Statement prepared in accordance with Companies Act, 2013.
Budgets for the CSR Programmes will be allocated in accordance with the Companies Act, 2013, Companies (Corporate Social Responsibility) Rules, 2014 and amendments in them from time to time.
It shall be the duty and responsibility of the CSR Committee to see to it that the CSR Programmes and activities are carried out within the predetermined time and budget.
Details about the CSR Programmes undertaken by FMIPL shall be displayed on the Official website of FMIPL – www.milacronindia.com
FMIPL's Board of Directors, CSR Committee and all employees at FMIPL believe and act towards building a better society and sustainable resources.