Corporate Social Responsibility

TITLE AND APPLICABILITY

Renold Chain India Private Limited (“Company”) has developed its Corporate Social Responsibility Policy (“the Policy”) in accordance with section 135 of the Companies Act 2013 and the rules made thereunder.

CSR VISION STATEMENT

To work in partnership with the communities and relevant stakeholders to facilitate the students of Government schools with proper infrastructure at their Schools so as to have a better educational facilities.

CSR OBJECTIVES

• Promoting education
• Providing access to proper infrastructure and quality education to the students of Government/Government aided schools.
• Ensuring environment sustainability

CSR PROGRAMME AREAS

Renold India believes that Education is the tool for creating an empowered, enlightened society capable of rising to its full potential. Nearly 60% to 70% of the Children in India are enrolled in government schools. But the infrastructure facilities, quality of the education in most of the government schools continue to remain below far acceptable levels. This mainly increases the high drop out of students when compared to the private schools.
The CSR programme of Renold India is to “Promote Education”. Renold India, with a commitment works to provide quality education and access to basic infrastructure facilities to the students at Government schools, so that it helps in the reduction of the dropout rate of the students.

The areas that would be covered in the programme:

1. To support the Government schools with basic access to infrastructure
2. To support Government schools with digital learning and teaching systems, capacity building of teachers, career orientation and counselling
3. Life skills and spoken English projects, supporting the vocational skills sessions in the schools 
4. Providing lighting facilities at the Government schools through solar energy

CSR BUDGET

In accordance with CSR Requirements, the Company shall seek to spend annually 2 percent of the average net profits of the company, made during the three immediately preceding financial years, on specific CSR and Programmes.
The Company shall take steps to ensure that any surplus arising out of the Company’s CSR Projects and programmes or activities shall be set aside for later use in CSR Projects and Programmes and in no event shall form part of the Company’s business profits.

COMPOSITION OF CSR COMMITTEE

The CSR Committee shall consist of the following directors:

CSR Committee 

1 S Ramachandran Managing Director Member
2 B Vijayakumar Director Member
3 Brian Thomas Tenner Director Member
4 T Vinothkumar Company Secretary

MONITORING AND REPORTING

• Under the direction of the Committee, the company shall implement a monitoring mechanism over the company’s CSR project and programmes.
• The Board shall receive periodic reports from the committee on the status of the Company’s implementation of the CSR Projects and Programmes.
• On an annual basis, the Board shall report to relevant stakeholders on the Company’s CSR Projects and programmes and related matters, as required by CSR Requirements.

EFFECTIVE DATE

This policy is effective from 18.07.2016

CONTACT

For queries related to the CSR Policy, please write to us at:
t.vinothkumar@renold.com