Corporate Social Responsibility (CSR) Policy of Shalimar Chemical Works Pvt. Ltd.

Corporate Social Responsibility (CSR) Framework for Shalimar Chemical Works Pvt. Ltd.

4. Scope

This Policy applies to all CSR projects and programs undertaken by Shalimar's in India, as per activities listed in Schedule VII of the Companies Act, 2013. It is approved by the Board of Directors and complies with applicable regulations.

5. CSR Focus Areas

Shalimar's CSR initiatives shall focus on, but not be limited to, the following areas as per Schedule VII of the Act:
Promoting Health and Nutrition:

Initiatives to enhance access to nutritious food and clean water.

Awareness campaigns on healthy cooking practices using Shalimar's edible oils and spices.

Support for malnutrition eradication programs, especially for women and children.

Environmental Sustainability:

Promoting climate change awareness and afforestation, as demonstrated by Shalimar's prior initiatives.

Reducing the environmental footprint of operations through sustainable sourcing of raw materials (e.g., coconuts for oil).

Encouraging recycling and eco-friendly packaging solutions.

Education and Skill Development:

Providing vocational training in food processing and agriculture to empower rural youth and women.

Supporting educational infrastructure in underserved areas, such as schools and learning centers.

Community Development and Cultural Preservation:

Supporting local festivals and cultural events, aligning with Shalimar's brand presence in celebrations like Durga Puja.

Infrastructure development, such as community centers or sanitation facilities, in rural areas.

Women Empowerment:

Programs to promote financial independence and entrepreneurship among women, including training in spice blending or small-scale oil production.

Supporting women’s health and hygiene initiatives.

6. Governance Structure

6.1 CSR Committee

The Board of Directors shall constitute a CSR Committee to oversee the implementation of this Policy. The Committee shall:

Formulate and recommend the CSR Policy and annual action plan to the Board.

Recommend the budget for CSR activities, ensuring compliance with the mandated expenditure (2% of average net profits of the last three financial years, as per the Act). Monitor and evaluate CSR projects and report progress to the Board. Ensure alignment with Schedule VII activities and statutory requirements. 6.2 CSR Co-ordinator A senior executive, nominated by the Chairperson, shall act as the CSR Co-ordinator and ex-officio Secretary to the CSR Committee, responsible for coordinating project implementation and reporting.

7. Implementation Framework

Project Identification: CSR projects shall be identified based on community needs, stakeholder consultations, and alignment with Shalimar's business values.

Execution: Projects may be implemented directly by Shalimar's, through registered NGOs, or in collaboration with government bodies, ensuring compliance with CSR Rules.

Partnerships: The Company may partner with credible organizations with a proven track record in social development.

Employee Engagement: Employees shall be encouraged to volunteer in CSR activities, fostering a culture of social responsibility.