1. Our philosophy

Our CSR policy shall be directed towards inclusive development that creates value for the society, especially around our plant and farmers across the country.

• Our goal is to ensure that our economic growth is socially and environmentally sustainable.
• The CSR initiatives will be focused to enable the citizen to enjoy the benefits of science led innovations.
• We will focus and support the communities in attaining Sustainable Development Goals.
• We will support and supplement government programmes and initiatives.

2. Our interventions

• We shall part take part in the socio-economic developmental activities of the communities around our plant locations and area of operations, so that the weaker and marginalized sections of the society will have a sustainable higher income and better standard of living.
• We will engage in projects ensuring environmental sustainability and conservation of limited natural resources. We will promote water conservation on mass scale.
• We will enable through our CSR activities the local community access to basic amenities like safe drinking water, health and sanitation.
• We will promote education and engage in employment enhancing vocational skills, especially to under privileged youth/students and farmers.
• We will provide them sustainable livelihood options and handhold them through training and skill development.
• We will engage in programmes enabling poverty eradication, increase in farm productivity and food security.
• We will promote activities reducing inequalities faced by socially and economically backward groups.
• We will engage in capacity building programmes of micro and small manufacturing units.
• We will actively involve in rural development projects. In rural areas we will focus on rural infrastructure development activities like setting up of Distance Education Centres, Krishi Mitra Kendras/ Agri Clinics, Rural BPOs, Common Service Centres (CSCs) /Community Centres, Skill Development Centres, Adoption of Primary Health Centres, Village Roads, Street Lights, Watershed Development activities, Revival of Water bodies, Irrigation and Water Storage Structures, etc.
• We will actively engage in programmes focusing on improving access to primary and secondary healthcare as well as integrating with govt. health schemes for tertiary care.
• We will promote gender equality and empower women by engaging them in economic activities to create a sustainable base for earning.
• We will involve in supporting the relief operations and responding to disaster like situations in the country.

3. Our Modalities of Execution

• PI Industries will identify various developmental projects to participate and implement it either by the company directly or through PI Foundation or through an implementing agency in accordance with the provisions of Sec 135 of the Companies Act, 2013 read with CSR rules as amended from time to time.
• The Company may collaborate with other companies to undertake CSR projects, provided the CSR Committees of the respective companies are able to report separately on such projects.
• We will initiate public-private-community participation programmes, wherever required.
• All our CSR projects will be in the form of development projects/programmes.

4. Governance and Monitoring

• As prescribed under the Companies Act, 2013, the Board of Directors shall constitute a Corporate Social Responsibility Committee (CSR Committee) consisting of three or more directors, out of which at least one director shall be an independent director.
• PI Foundation will work as per the advice of the PI CSR committee in executing the projects basis the annual action plan approved by the Board members.
• The Board level Corporate Social Responsibility Committee of the Company shall be responsible for formulating and recommending to the Board the CSR policy and a CSR annual action plan, provided that the Board may alter such plan at any time during the financial year, as per the recommendation of its CSR Committee, based on reasonable justification to that effect.
• Our CSR projects will have the following components:
• • Need based assessment/baseline survey/study
  • Clearly identified time frame
  • Specific Annual financial allocation
  • Clearly identified milestones
  • Clearly identified & measurable objectives /goals
  • Robust & periodic review & monitoring
  • Evaluation & impact Assessment by independent agencies every three years of execution.
• The Board of a company shall satisfy itself that the funds so disbursed have been utilised for the purposes and in the manner as approved by it and the CFO or the person responsible for financial management shall certify to the effect.
• The Board shall monitor the implementation of the Project with reference to the approved timelines and shall be competent to make modifications, if any, for smooth implementation of the project within the overall permissible time period.

5. CSR Expenditure

• The surplus arising out of the CSR activities shall be ploughed back into the same project, or shall be transferred to the Unspent CSR Account and shall be spent in pursuance of this CSR policy and approved annual action plan.
• PI Foundation may transfer such surplus amount to a Fund specified in Schedule VII of the Act, within a period of six months of the expiry of the financial year.
• Any excess amount spent on CSR activities may be set off against the requirements to spend in the succeeding financial years in accordance with the applicable CSR provisions.
• Any unspent amount, other than unspent amount relating to an ongoing project, will be transferred to a Fund specified in Schedule VII, within a period of six months of the expiry of the financial year.
• Further, unspent CSR funds of ongoing projects will be transferred within a period of 30 days from the end of the financial year to a special account opened by the company in any scheduled bank called the “Unspent Corporate Social Responsibility Account”. Such amount shall be spent by the company towards CSR within a period of 3 financial years from the date of such transfer, failing which, the company shall transfer the same to a Fund specified in Schedule VII, within a period of 30 days from the date of completion of the third financial year.

6. Impact assessment

When average CSR obligation of the Company is Rupees 10 Crores or more in pursuance of Section 135(5) of the Companies Act, 2013 in the three immediately preceding financial years, it shall carry out an impact assessment for projects having outlays of one crore rupees or more in the following manner :-

• Impact assessment shall be undertaken through an independent agency, if one year is elapsed post completion of project.
• The impact assessment reports shall be placed before the Board and shall be annexed to the annual report on CSR.
• Expenses incurred for undertaking impact assessment may be booked towards Corporate Social Responsibility expenditure for that financial year; such that it shall not exceed two percent of the total CSR expenditure for that financial year or fifty lakh rupees, whichever is higher.

Review

• PI CSR Policy shall be subject to review every 3 years and shall be subject to changes as per the amendments in Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014.

Note: The above policy is amended up to date with last amended by board in its meeting held on November 8, 2022.