CSR Policy

After taking into account the recommendations of the CSR Committee, the Board of Directors of Empire Industries Limited have approved the following CSR Policy for the company. The said CSR policy has been developed in consonance to Section 135 of the Companies Act 2013 (referred to as the Act in this policy) on CSR and in accordance with the CSR rules (hereby referred to as the Rules) notified by the Ministry of Corporate Affairs, Government of India in 2014.

The Policy shall apply to all CSR projects/ programmes undertaken by the Company in India as per Schedule VII of the Act.

Preamble

Empire Industries Limited (EIL) is a 116 year old Public Limited Company – with interests in diverse businesses and associated with several international partners in some of its operating divisions.

EIL is a well-diversified group whose manufacturing and marketing operations cover the areas of Machine Tools, Industrial Equipments, Vending, Foods, leasing of Commercial Properties, Real Estate, manufacturing of Glass Containers for Pharmaceutical companies, and Business Centers.

EIL’s CSR is committed to contributing to sustainable economic development, working for the local community and the society at large to improve their quality of life in ways that are good for business and development. Through CSR, the company is taking important steps towards fulfilling the social needs and gaps in the society. CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community. EIL’s CSR enables the company to contribute to nation building along with healthy and sustainable development.

Vision

We envision a society filled with happy, healthy and virtuous individuals.

Mission

Our mission is to improve the health of the poor and underprivileged, create awareness in slum areas of basic hygiene & preventive illnesses, save lives and uplift the moral fiber of the nation through value based education.

Broad Areas

EIL has been involved in various social initiatives over the years. These initiatives have substantially improved the quality of life of the people.

EIL’s CSR focuses mainly on these chosen areas-

• Health Care for patients & their families in Hospitals
• Malnutrition
• Water Hygiene and Sanitation (WASH)
• Slum development

All the above mentioned areas target the marginalized section of the society with children & adolescents being a priority. EIL evolves its activities to address the issues around affordability & accessibility of quality health care and to bring about improvement and awareness of health issues in communities, schools and ofcourse hospitals.

CSR Budget

CSR committee will recommend the annual budget expenditure project wise to the board for its consideration and approval.

Implementation

The company will implement its CSR activities through its own foundation / trust “KARO Trust.” (KARO Trust is registered under Bombay Public Trusts Act 1950 in Mumbai) or any other foundation,trust, section 8 company or section 25 company with a track record of at least three years.Before engaging with partners, EIL will evaluate the credentials of the implementing entity and seek all relevant documents and details.

EIL may also collaborate with other companies’ CSR for undertaking projects or programs.

EIL will implement its CSR activities in accordance with Section 135 of the Companies Act 2013 and the Rules notified thereafter.

The CSR committee of the board has been formed as required by the act.The committee consists of the following:-

• Chairperson- Ms Uma Malhotra, Director, Empire Industries Limited.
• Member -Mr Dileep Malhotra, Director, Empire Industries Limited.
• Member -Mr Rajbir Singh, Independent Director, Empire Industries Limited.

M&E Process

The progress of CSR activities will be presented by the CSR Committee to the Board of Directors of Empire Industries at Board meetings periodically. The CSR Committee shall be responsible for monitoring the implementation and impact of CSR projects.

The CSR Committee shall ensure that in each financial year, the Company spends at least 2% of the average net profit before taxation made during the three immediate preceding financial years.

The CSR Committee shall ensure that the surplus (if any) arising out of CSR activities shall not form part of the business profit of the Company.

Apart from the above mentioned process, all the projects recommended above would be evaluated from the perspective of time frames and social impact. EIL would also ensure accountability for the funds invested in the projects whether implemented directly or indirectly (through NGOs) by means of continuous & rigorous monitoring .

The CSR committee shall supervise the projects through the CSR team. They will have periodic meetings to monitor both the process and progress and maintain a summary of the discussions for good record.

Where individual cases of medical assistance are concerned the CSR team will initially screen all applications with or without help from other volunteers and place the duly verified applications before the CSR committee to further recommend to the Board of Directors for approval.

Reporting and Documentation

EIL’s Annual Report will include the yearly activities and expenses report on CSR as per the particulars specified under CSR rules.

The report shall include a responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the company.

The Annual Report on CSR Activities shall be signed by the CEO or the MD as also the Chairman of the CSR Committee.