CSR POLICY

A. CSR Policy & Philosophy

Next Polymers Limited is committed to operate and grow its business in a socially responsible way with a vision to be an environmental friendly corporate citizen. CSR activities at NPL reflect its commitment to make things happen at every project we undertake. We firmly believe that to succeed, an organization must maintain highest standards of corporate behavior towards its investors, stakeholders, employees and societies in which it operates.

Constitution of a Corporate Social Responsibility Committee of the Board and formulation of a Corporate Social Responsibility Policy has become mandatory under the Companies Act, 2013. Accordingly, our Company has formulated this CSR Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs.

B. CSR Vision

The Company would follow "Collaborative Model" for empowering communities and believes that for sustainable social intervention, participation of communities/Government must be ensured in the Company's CSR projects/programmes.

The Company would work with any other entity set up in accordance with requirement of the Companies Act 2013 in close collaboration with communities, like minded agencies and government for its educational, vocational skills, women empowerment, preventive health programmes and rural development

C. Thrust Areas

While we strive to undertake all or any suitable activity as specified in Schedule VII to the Act, currently, we focus to support and implement the following activities as our thrust areas;

  • Providing emergency medical care, preventive health care, sanitization and safe drinking water. (as per item 1 under Schedule VII of the Companies Act, 2013)
  • Promoting education to the under privileged children, supporting socially backward people and helping the differently abled people. (as per item 2 under Schedule VII of the Companies Act, 2013)
  • Ensuring environmental sustainability, ecological balance, protection of flora and fauna and conservation of natural resources. (as per item 4 under Schedule VII of the Companies Act, 2013)
  • Rural Development Projects. (as per item 10 under Schedule VII of the Companies Act, 2013)

D. Implementation

The CSR Activities will be carried out around the areas of the Company’s manufacturing locations, offices viz Silvassa and Mumbai. This CSR Policy will be implemented from the current Financial Year in which the Company shows the net profits as per its audited annual financial statements. Based on the net profits, if any, every year, the CSR Committee will identify the CSR activities including the thrust areas, annual budget, planned expenditure and implementation schedule etc.

E. Funding and allocation

Following is the mode of funding and allocation of area wise planned expenditure for the CSR activities.

  • The Company shall, in every financial year, contribute a statutory minimum limit of at least 2% of its Net Profits for the CSR Expenditure
  • The CSR Committee shall prepare its annual planned expenditure, for a financial year, for the CSR activities including the thrust areas and manner of implementation etc., and submit the same for approval of the Board format.

F. Monitoring mechanism

The CSR Officer of the Company will coordinate / review the implementation of CSR activities at various areas and report to the Board through the CSR Committee. The CSR Committee shall meet at least once in a year to monitor the implementation of CSR Plan and its activities. The Committee shall ensure that the CSR Policy, as amended from time to time, is displayed on the company’s website.

The CSR Committee shall place before the Board, a draft annual report on CSR activities as per the specified format, in a board meeting to be held in April / May of the following year for Board’s review and finalization. The Board shall include in its report to the shareholders, the annual report on CSR activities as per the format specified under the Rules.

G. Reporting format

Periodic reporting on the CSR activities, execution modalities, implementation schedules etc., to the CSR Committee shall be in the following format which may be amended by the CSR Committee from time to time.

Sr.No. Company Initiative Schedule VII Activity Execution Details Budget (Rs.) Amount Spent (Rs.) Remarks

CSR Camp