1. Introduction

Yashraj Biotechnology Limited (YBL) is a research and innovation driven certified company, established in 1999 Navi Mumbai, Maharashtra, India. YBL is the leading antigen manufacturer in India. Its vision is to – “Be the key player in Life Sciences – Diagnostics and drive innovation for making a Healthier world”

We firmly believe that the business should be both profitable and beneficial to the society. As a socially responsible and conscious organization, YBL has integrated corporate social responsibility in its policy. The company’s core values act as a guide for continuous deliverance of social responsibilities throughout its programs.

Over the years YBL has contributed to sustainable development for improving social wellbeing through its three major initiatives such as Education, Health, and Livelihood.

  1. Scope and Purpose

Corporate Social Responsibility (CSR) Projects shall mean and include all programs, projects, activities relating to our focus areas broadly health awareness camps, diagnostics camps, donations for medical help, educational grants, skill trainings, livelihood platforms specifically and any sponsorships that contribute to the overall sustainable development of local communities and thereby helps in welfare of the society at large.

The social responsibility of a business is to give back to the world for a greater good, so our CSR policy refers to our responsibility towards society and environment in which we live in.

This policy shall also apply to all other CSR activities / projects / programs undertaken by the Company in accordance with Schedule VII of the Companies Act, 2013. (hereinafter referred as ‘Act’.)

  1. Focus Areas

Our CSR focus areas will be Education, Health and Livelihood.

  1. Activities

Education:

  • Supporting advancement of education through contributing grants and scholarships

Health:

  • Caring for the advancement of health through patient donation and or any kind of medical aid for the needy.

Livelihood:

  • Skill development and Livelihood enhancement among youth and women.
  1. Strategy & Implementation

All the CSR programs and activities will be identified on the basis of need assessment and will be aimed towards within defined CSR focus areas.

YBL can also carry all the activities as mentioned in Schedule VII of the Act.

  1. Mode of Execution

The Company intends to implement the CSR Programs through Company personnel or through external implementing agencies established in compliance with Rule 4 of The Companies (Corporate Social Responsibility Policy) Rules, 2014 or through ‘Yashraj Research foundation’ and other Trusts, Foundations and Section 8 companies that may be established by the Company from time to time.

  1. Contribution

The Company shall spend at least two percent (2%) of its average net profit of the immediately (3) three preceding financial years on CSR activities in accordance with the provisions of the Act. The amount of net profit shall be calculated in accordance with the Act.

  1. Budget Allocation:

Budget will be decided as per the net profit of the immediately (3) three preceding financial years and all the funds will be utilized as per the recommendation of CSR Committee, subject to approval from Board.

  1. Employee Volunteering and Engagement

Employee Volunteering: There is a strong link between volunteering and employee development. Volunteers are benefited from accelerated growth by gaining alternative experience and new skills. Employee volunteering provides employees with opportunities to practice business-related skills in real-life situations, deal with the new audience, and to explore new sectors.

Employee Engagement: Having a sense of purpose at work can help employees feel more engaged like they are a part of good cause. Through articulating and providing a strong sense of purpose will more effectively attract potential talent and engage employees.

YBL employees are encouraged to volunteer for various CSR projects in the areas of education, health and environment. YBL employees are expected to serve minimum of 1 day in a financial year.

  1. Compliance, Monitoring and Reporting

 

Compliance – Compliance with this policy will be continuously monitored by the CSR Committee at its meeting(s), subject to annual review by the Board of Director.

Reporting – The Board’s Report of a company shall include an annual report on CSR containing particulars as prescribed under the Act.

Monitoring – The Committee shall monitor the implementation of the CSR Policy through periodic reviews of the CSR activities.

The members of the CSR committee shall be appointed or removed by the Board of Directors by way of Resolution. Company Secretary shall be the Secretary of the CSR Committee. The minutes of CSR committee meetings shall be placed before the Board meeting.

  1. Role of the board
  • The Board shall take the recommendations made by the CSR Committee and approve the Corporate Social Responsibility Policy or any amendment thereof.
  • The Board shall ensure that the CSR activities as are included in Corporate Social Responsibility Policy of the company as are undertaken by the company.
  • The Board shall ensure that the company spends, in every financial year, at least two per cent. of the average net profits of the company made during the three immediately preceding financial years.
  • The Board of the 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 Chief Financial Officer or the person responsible for financial management shall certify to the effect.
  • In case of ongoing project, the Board of the company shall monitor the implementation of the project with reference to the approved timelines and year-wise allocation and shall be competent to make modifications, if any, for smooth implementation of the project within the overall permissible time period.
  • The Board shall ensure that the administrative overheads shall not exceed five percent of total CSR expenditure of the company for the financial year.
  • The Board shall mandatorily disclose the composition of the CSR Committee, CSR Policy and Projects approved by the Board on the Company’s website.
  1. Responsibilities of CSR Committee
  • Formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company in areas or subject, specified in Schedule VII of the Act.
  • Formulate and recommend to the Board, an annual action plan in pursuance of its CSR policy, which shall include the following;
  1. The list of CSR projects or programmes that are approved to be undertaken in areas or subjects specified in Schedule VII of the Act.
  2. The manner of execution of such projects or programmes.
  3. The modalities of utilisation of funds and implementation schedules for the projects or programmes.
  4. Monitoring and reporting mechanism for the projects or programmes; and
  5. Details of need and impact assessment, if any, for the projects undertaken by the company.
  6. The Committee shall meet at least twice a year or as and when the need arises to discharge its roles and responsibilities.
  7. Treatment of Surplus

Any surplus generated from CSR projects undertaken by us will not be added to the normal business profits. The same shall be utilized for the CSR activities in pursuance to this Policy under Section 135 of Companies Act, 2013 and the Rules thereunder.

  1. Approval and Amendments

The Board of Directors are authorized to amend this Policy on recommendation of the CSR Committee as may be required from time to time, subject to applicable laws.  Any amendment(s) in the statutory/regulatory requirements shall be binding even if not incorporated in this Policy