CSR 2022

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corporate overview statutory reports financial statements

ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY ACTIVITIES

for financial year 2021-22

[Pursuant to Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility) Rules, 2014]

1. Brief outline on Corporate Social Responsibility (CSR) Policy of the Company:


The CSR Policy articulates the Company’s approach and commitment to sustainable and inclusive social development by improving
the quality of life of the communities it serves. Engage, Equip and Empower is the cross-cutting theme of the various projects
initiated under the three verticals namely: Sustainable Livelihood, Community Development and issues of National Importance.
Sustainable livelihood is the flagship program which focusses on building employability of Youth from underprivileged section of
the Society. Community Development deals with Water, Health and Education, and emphasises on community participation and
ownership and works on projects for sustainable outcomes. Issues of National Importance deals with the thematic areas like Disaster
Management, Sanitation and Affirmative Action.

2. Composition of the CSR Committee:


Sl. Name of Director Designation / Nature of Directorship Number of Number of
No. meetings of CSR meetings of
Committee held CSR Committee
during the year attended during
the year
1 Mr. Noel Tata Chairman, Non- Independent, Non-Executive Director 2 2
2 Mr. Pradeep Bakshi Member, Managing Director & CEO 2 2
3 Mr. Bahram N. Vakil Member, Independent Director 2 2
4 Ms. Anjali Bansal Member, Independent Director 2 1

3. Web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on
the website of the Company:
The CSR activities undertaken are within the broad framework of Schedule VII of the Companies Act, 2013. Details of the CSR
Committee composition, CSR Policy and projects/ programs undertaken by the Company along with the implementing agencies /
partners are available on links given below:

(i) CSR Committee composition and CSR Policy:

https://www.voltas.com/images/_ansel_image_collector/CSR_Policy_%28Revised%29_11102021.pdf

(ii) CSR Projects programs undertaken by the Company:

https://www.voltas.com/images/_ansel_image_collector/CORPORATE_SOCIAL_RESPONSIBILITY_PROJECTS__PROGRAMMES.
pdf

4. Details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of Rule 8 of the Companies
(Corporate Social Responsibility Policy) Rules, 2014:
The Company undertakes Impact Assessment of projects after they attain certain maturity period which generally is done after three
years. The assessment process would be carried out according to the due timelines

Annual Report 2021-22 125


5. Details of the amount available for set-off in pursuance of sub-rule (3) of Rule 7 of the Companies (Corporate Social
Responsibility Policy) Rules, 2014 and amount required for set-off for the financial year, if any:
Sl. Financial Year Amount available for set-off from Amount required to be set-off for
No. preceding financial years the financial year, if any
(₹ in crores) (₹ in crores)
1 2021-22 0.21 0.16

6. Average net profit of the Company as per as per Section 135(5): ` 654.76 crores.
7. (a) Two percent of average net profit of the Company as per Section 135(5): ` 13.10 crores.

(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Nil.

(c) Amount required to be set-off for the financial year, if any: ` 0.21 crore.

(d) Total CSR obligation for the financial year (7a+7b-7c): ` 12.89 crores.

8. (a) CSR amount spent or unspent for the financial year:


Total Amount Spent Amount Unspent (₹ in crores)
for the Financial Year Total Amount transferred to Amount transferred to any fund
(` in crores) Unspent CSR Account as per specified under Schedule VII as per
Section 135(6) second proviso to Section 135(5)
Amount Date of transfer Name of the Amount Date of transfer
Fund
12.94 Nil NA NA Nil NA

(b) Details of CSR amount spent against ongoing projects for the financial year:
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Sl. Name Item from Local Location of the Project Amount Amount Amount Mode of Mode of
No. of the the list of area project Duration allocated spent in transferred to implementation - implementation
Project activities in for the the current Unspent CSR Direct (Yes/No) - Through
Schedule VII (Yes/ Project financial account as per implementing agency
to the Act No) (` in crores) year Section 135(6)
State District Name CSR
(` in crores) (₹ in crores) Registration
Number
Nil

126 Voltas Limited


corporate overview statutory reports financial statements

(c) Details of CSR amount spent against other than ongoing projects for the financial year:
(1) (2) (3) (4) (5) (6) (7) (8)
Sl. Name of the Item from Local Location of the project Amount Mode of Mode of implementation
No. Project the list of area spent imple - Through implementing
activities in for the menta agency
(Yes/
Schedule State District Project tion - Name CSR
No)
VII to the (` in Direct Registration
Act crores) (Yes/No) Number
1 Skill Training in (ii) Yes Maharashtra, Thane, Nashik, 2.93 No* Tata CSR00002739
Technical and Uttar Pradesh, Aligarh, Hardoi, Community
Non-Technical West Bengal, Midnapur, Initiative
courses for Madhya Pradesh, Chhindwara, Trust (TCIT)
employability Jharkhand, Jamshedpur,
enhancement Telangana, Karimnagar,
of youth Andhra Pradesh, Hyderabad,
Srikakulam,
Bihar Muzaffarpur
2 Skill Training in (ii) Yes Maharashtra, Thane, 0.55 Yes Direct Not applicable
Refrigeration
and Air Jharkhand, Jamshedpur,
Conditioning
(OPEX and Haryana, Faridabad,
maintenance
cost for Centre
of Excellence
and CSR
training facility
at Integrated
Complex at
Faridabad)
3 Skill Training in (ii) Yes Uttarakhand Pantnagar 0.30 No Greysim CSR00000153
Refrigeration Learnings
and Air Foundation
Conditioning
and Plumbing
4 Recognition (ii) Yes Andhra Pradesh, Vishakhapatnam, 0.55 No Greysim CSR00000153
of Prior Odisha, Krishna, Learnings
Learning for Khordha, Foundation
RAC and CAC Tamil Nadu, Chennai,
technicians Kerala, Ernakulum,
Madhya Pradesh, Indore,
West Bengal, Kolkata,
Maharashtra, Pune, Mumbai,
Nagpur,
Chhattisgarh Raipur

Annual Report 2021-22 127


(1) (2) (3) (4) (5) (6) (7) (8)
Sl. Name of the Item from Local Location of the project Amount Mode of Mode of implementation
No. Project the list of area spent imple - Through implementing
activities in for the menta agency
(Yes/
Schedule State District Project tion - Name CSR
No)
VII to the (` in Direct Registration
Act crores) (Yes/No) Number
5 Recognition (ii) Yes Andhra Pradesh, Srikakulam, 0.90 No Care CSR00009956
of Prior Amalaapuram, Foundation
Learning for West Godavari,
RAC and CAC Bihar, Darbhanga,
technicians Bhagalpur, Arwal,
Madhubani
Chhattisgarh, Bilaspur, Raipur,
Gariyaband,
Delhi, Delhi, South Delhi,
New Delhi,
Gujarat, Ahmedabad,
Vadodara, Navsari,
Surat, Rajkot,
Haryana, Sonipat, Gurgaon,
Karnal, Ambala,
Jind,
Himachal Pradesh, Hamirpur, Una,
Kangra,
Jammu and Jammu, Samba,
Kashmir,
Karnataka, Bidar, Bangalore,
Punjab, Ludhiana,
Jalandhar,
Hoshiarpur,
Rajasthan, Alwar, Dholpur,
Jaipur,
Telangana, Karimnagar,
Hyderabad,
Warangal,
Uttar Pradesh, Kanpur, Unnao,
Moradabad,
Uttarakhand, Haridwar,
Deharadun
6 Skill training (ii) Yes Maharashtra, Mumbai, 0.20 No Sarthak CSR00001093
in Non - Education
Technical Telangana Hyderabad Foundation
trades
7 Functional (ii) Yes Maharashtra, Thane, 0.01 No Step-Up CSR00007140
English Uttar Pradesh, Aligarh, Hardoi, Charitable
program West Bengal, Midnapur, Trust
for students Madhya Pradesh, Chhindwara,
from Voltas’s Jharkhand, Jamshedpur,
Skill Training Telangana, Karimnagar,
centres Hyderabad,
Bihar, Muzaffarpur,
Andhra Pradesh, Jired, Nired,
Delhi Delhi

128 Voltas Limited


corporate overview statutory reports financial statements

(1) (2) (3) (4) (5) (6) (7) (8)


Sl. Name of the Item from Local Location of the project Amount Mode of Mode of implementation
No. Project the list of area spent imple - Through implementing
activities in for the menta agency
(Yes/
Schedule State District Project (` tion - Name CSR
No)
VII to the in crores) Direct Registration
Act (Yes/No) Number
8 Skill Training in (ii) Yes Andhra Pradesh, Nired, Hyderabad, 0.25 No GMR CSR00000851
Refrigeration Varalakshmi
and Air Delhi Delhi Foundation
Conditioning
9 Tool kits for (ii) Yes Maharashtra, Thane, 0.24 Yes -- Not applicable
students from Uttar Pradesh, Aligarh, Hardoi,
Skill Training West Bengal, Midnapur,
centres Madhya Pradesh, Chhindwara,
Jharkhand, Jamshedpur,
Karimnagar,
Telangana, Hyderabad,
Bihar, Muzaffarpur,
Andhra Pradesh, Jired, Nired,
Delhi Delhi
10 COVID Relief (xii) Yes West Bengal Kolkata 0.40 No Tata Medical CSR00002920
measure Centre Trust,
(healthcare) Kolkata
11 Nutritional (i) Yes Maharashtra Raigad 0.37 No* The Bethany CSR00008712
and Society
educational
support to the
Tribal children
12 Animal (iv) Yes Jharkhand Jamshedpur 0.07 No Tata Steel CSR00007552
adoption Zoological
program at Society
Jamshedpur
13 Providing (xii) Yes Maharashtra, Mumbai, 0.47 Yes -- Not applicable
Oxygen Delhi, Delhi,
Concentrators West Bangal, Kolkata,
for COVID Tamil Nadu, Chennai,
patients Coimbatore,
Uttara khand, Pantnagar,
Gujarat, Waghodia,
Jharkhand, Jamshedpur,
Telangana, Hyderabad,
Karnataka, Bangalore,
Haryana, Chandigarh,
Uttar Pradesh, Lucknow,
Bihar, Patna,
Odisha Bhubaneshwar
14 Support for (xii) Yes Uttarakhand Rudrapur 0.05 No Green CSR00021433
COVID centre Environment
Public
Welfare
Society

Annual Report 2021-22 129


(1) (2) (3) (4) (5) (6) (7) (8)
Sl. Name of the Item from Local Location of the project Amount Mode of Mode of implementation
No. Project the list of area spent imple - Through implementing
activities in for the menta agency
(Yes/
Schedule State District Project (` tion - Name CSR
No)
VII to the in crores) Direct Registration
Act (Yes/No) Number
15 Support (i) Yes Uttarakhand Pantnagar 0.80 No The CSR00000286
for food Akashaya
distribution Patra
vehicles for Foundation
mid-day meal
program
16 Support (i) Yes Andhra Pradesh Tirupati 1.00 No Alamelu CSR00001539
towards Charitable
medical Foundation
equipment for
Cancer Care
Hospital
17 COVID Relief (xii) Yes Maharashtra Mumbai 0.05 No Central CSR00008084
measure Chinmaya
(healthcare) Mission Trust
18 Support to (v) No PAN India 0.05 No Marg CSR00006830
the libraries Foundation
restoring
historical
books
19 Support (ii) Yes Delhi Delhi 0.05 No All India CSR00006061
for Lab for Federation
Physically for the Deaf
challenged
students (Deaf
and dumb
students)
20 Integrated (i) Yes Gujarat Waghodia 1.06 No * Costal CSR00002590
WASH and Salinity
Solid Waste Prevention
management Cell
project
21 Support (v) Yes Karnataka Bangalore 0.25 No Art and CSR00000053
to Art and Photography
Photography Foundation
Museum
22 Support to (vi) Yes Punjab, Amritsar, 0.01 No Armed CSR00011199
the welfare of Kerala, Kannur, Forces Flag
Armed Forces Thiruvanantha- Day Fund
puram,
Andhra Pradesh, Visakhapatnam,
Tamil Nadu Coimbatore

130 Voltas Limited


corporate overview statutory reports financial statements

(1) (2) (3) (4) (5) (6) (7) (8)


Sl. Name of the Item from Local Location of the project Amount Mode of Mode of implementation
No. Project the list of area spent imple - Through implementing
activities in for the menta agency
(Yes/No)
Schedule State District Project (` tion - Name CSR
VII to the in crores) Direct Registration
Act (Yes/No) Number
23 Participatory (xii) Yes Maharashtra Beed 1.07 No Action CSR00000747
Groundwater for Food
and Sustainable Production
Agriculture
project
24 Support (i) No Bihar Gaya 0.20 No Bhansali Trust CSR00000609
for Mushar
integrated
development
program/
activities (for
social welfare
of Mushar
Community)
25 Support towards (ii) Yes Tamil Nadu Tenkasi 0.20 No Amar Sewa CSR00000229
upliftment of Sangham
rural poor and
differently abled
children
26 Support towards (ii) Yes Maharashtra Mumbai, 0.20 No Human CSR00018558
IT lab and Thane, Palghar Development
education for Centre Trust
differently abled
children
27 Support for Old (iii) Yes Gujarat Vadodara 0.05 No Maa Madhuri CSR00003469
Age Home Brij Varis Sewa
Sangh
28 Support for (i) Yes Gujarat Navsari 0.01 No Bai Navajbai CSR00006224
safe and clean Tata
drinking water in Zoroastrian
a school
Total 12.29

* Some part of the funds was also spent directly by the Company.

Note: The projects/programs as referred to above are implemented on annual basis.

(d) Amount spent in Administrative Overheads: ` 0.65 crore


(e) Amount spent on Impact Assessment, if applicable: Nil
(f) Total amount spent for the Financial Year (8b+8c+8d+8e): ` 12.94 crores

Annual Report 2021-22 131


(g) Excess amount for set-off, if any:
Sl. Particular Amount
No. (` in crores)
(i) Two percent of average net profit of the Company as per Section 135(5) 13.10
(ii) Total amount spent for the Financial Year 13.15 *
(iii) Excess amount spent for the financial year [(ii)-(i)] 0.05
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial Nil
years, if any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] 0.05
* including amount of ` 0.21 crores spent in previous financial year.

9. (a) Details of Unspent CSR amount for the preceding three financial years:
Sl. Preceding Amount Amount Amount transferred to any fund specified Amount
No. Financial transferred to spent under Schedule VII as per Section 135(6), remaining to
Year Unspent CSR in the if any be spent in
Account under reporting Name Amount Date of transfer succeeding
Section 135(6) Financial Year of the (` in crores) financial
(` in crores) (` in crores) Fund years
(` in crores)
Nil
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s):
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Sl. Project ID Name of Financial Year Project Total amount Amount Cumulative Status of
No. the Project in which the duration allocated for spent on the amount the project
project was the project project in the spent at -Completed
commenced (` in crores) reporting the end of /Ongoing
Financial Year reporting
(` in crores) Financial
Year
(` in crores)
Nil

10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through
CSR spent in the financial year (asset-wise details):
(a) Date of creation or acquisition of the capital asset(s): None

(b) Amount of CSR spent for creation or acquisition of capital asset: Nil

(c) Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their
address etc.: Not Applicable

(d) Details of the capital asset(s) created or acquired (including complete address and location of the capital asset):
Not Applicable

11. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per Section 135(5):
Not Applicable

Pradeep Bakshi Noel Tata


Managing Director & CEO Chairman – CSR Committee
Date: 5 May, 2022 Place: Mumbai Place: Mumbai

132 Voltas Limited

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