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A. Policy Objective

Qutone Ceramic Private Limited (hereinafter referred to as ‘the Company’) is committed to conduct its business in a socially responsible, ethical and environmentally friendly manner and to continuously work towards improving quality of life of the communities. The Company has established CSR Company-Qutone Foundation (‘the Foundation’) (not for profit) under Section 8 of the Companies Act, 2013 on January 23, 2018 with a vision to boosting the Company’s CSR initiatives.

B. Scope of CSR Activities

The Company would have freedom and flexibility to choose from any of the activities specified in Annexure I. The CSR projects and programs to be undertaken by the Company shall include activities falling within the preview of Schedule VII of Companies Act, 2013; as amended from time to time. Thus, with any change in the statutory provisions governing the activities, the Annexure I shall be deemed to include/exclude such activities as permissible under law at that point of time.

The list and implementation modalities may be modified from time to time, as per recommendations of the CSR Committee of the Company. The surplus, if any, arising out of CSR initiatives of the Company shall not form part of its business profits and shall be utilized for CSR activities only.

C. CSR Implementation approach and modalities

The CSR Committee will be responsible for overseeing the approval, execution, implementation and monitoring of the project. These programs will be executed by the Company and where appropriate in partnership with local government, various NGO partners, Institutions, service providers and others.

Focus area of intervention:
(a) Supporting Preventive Healthcare
(b) Promoting Education
(c) Rural Development
(d) Social and Women Empowerment
(e) Various other social matters

Mode of implementation:
(a) The CSR Activities shall be executed through one or more of the following modes:

i. Directly by the Company; or
ii. By Qutone Foundation (‘the Foundation’), a CSR Company, was incorporated under Section 8 of the Companies Act, 2013 (not for profit) on January 23, 2018.

(b) The Company shall implement the CSR Activities stipulated in Annexure I to this CSR Policy.

(c) CSR programmes may be implemented with the active participation of the concerned local stakeholders. These interventions may also be synergized with the initiatives undertaken by the State Government, District Administration as well as Departments.

(d) The Company will identify the projects recommended by Qutone Foundation which are falling within the purview of Schedule VII to the Act and provide funds to Qutone Foundation. The funds will be utilized by Qutone Foundation for the identified projects and ensure to provide the details of expenditure / reports for each project, in a manner as may be desired by the Company from time to time.

Location of CSR projects / programmes / activities:
The CSR Activities, whether undertaken by the Company itself or through Qutone Foundation, shall be carried out preferably in and around the areas of the Company’s manufacturing locations / offices / work centers/ project sites and areas.

However, the CSR Committee may identify other areas for CSR Activities, from time to time, if public needs so demands.

C. CSR Implementation approach and modalities

In every financial year, the CSR Committee shall determine whether the provisions of Section 135 of the Act for mandatory CSR spend are applicable to the Company and accordingly, determine the CSR Expenditure Budgeted for the financial year.

CSR Expenditure Budgeted shall include all expenditure including contribution to corpus or on projects/programmes relating to the CSR Activities. For achieving the CSR objectives through implementation of meaningful and sustainable CSR programmes, the Company shall allocate the following as its annual CSR Expenditure Budgeted:

  • 2% of its average net profits made during the three immediately preceding financial years, as prescribed under the Act and the CSR Rules from time to time;
  • Any income arising there from;
  • Surplus arising out of CSR Activities; and
  • Such other amount as may be determined by the Company from time to time

Any surplus arising out of CSR Activities shall not form part of the business profits of the Company and the same shall be spent on CSR activities.

If the Company is unable to spend the prescribed 2% of its average net profit as mentioned above, the committee will review the reasons for the same and place the same with justification to the Board.

The Company will report reasons for not spending the entire Budget outlay for CSR allocated in any financial year. The unutilized fund would remain part of the corpus and get carried forward for the next year for expenditure thereon. The Company has to provide reason for not spending such amount in that financial year. Further, it will not dilute the fund allocation requirement for such next financial year.

To comply with the obligations, the CSR Committee may also decide to contribute amount of CSR Budget, either wholly or partially towards Corpus of any foundation provided under Schedule VII (as amended from time to time).

E. Monitoring Activities

The CSR Committee shall carry out the following functions:-
  • Identify the projects/activities to be undertaken by the Company for CSR;
  • Modalities of execution, monitoring process and amount to be incurred on such activities;
  • Monitor the utilization of funds towards approved CSR Activities;
  • Evaluate actual CSR performance and impact such activities are making on the people Society and environment; and
  • Corrective measures to be taken to rectify deviations (if any); and
  • Such other functions as may be delegated by the Board from time to time.
Corporate Social Responsibility Committee:

The Board, as on March 31, 2021, had one committee namely the Corporate Social Responsibility (CSR) Committee. The details of composition as under

Name of the Committee Composition
Corporate Social Responsibility
Committee (CSR).
Mr. Manoj Kumar Agarwal (Chairman)
Mr. Sunil Sitaramji Manglunia (Member)
Mr. Jagdish Kunvarjibhai Dalsaniya (Member)

F. Review of Policy

The CSR Policy will be reviewed periodically by the CSR Committee of the Company.

G. Disclosure in the Annual Report of the Company

The details about the policy developed and implemented by the Company on corporate social responsibility, initiatives taken during the year and details of CSR spent during the financial year shall be disclosed in the Annual Report of the Company. This policy shall be subject to amendments under the Companies Act 2013 or any other applicable law or regulation.

Annexure I

List of CSR Activities falling within the purview of Schedule VII of the Act and which the Company may to undertake on related lines:

Activities relating to:

(i) Eradicating extreme hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation and making available safe drinking water;

(ii) Spreading joy and doing things for the benefit of the poor and needy kids

(iii) Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;

(iv) Promoting gender equality, empowering women, reducing child motility, improving maternal health, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups;

(v) Combating human immunodeficiency virus, acquired immune deficiency, syndrome, malaria and other diseases; employment enhancing vocational skills;

(vi) Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water;

(vii) Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional arts and handicrafts;

(viii) Measures for the benefit of armed forces veterans, war widows and their dependents;

(ix) Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sports;

(x) Contribution to the Prime Minister’s National Relief Fund or any other-fund set up by the Central Government or State Government for socio-economic development and relief and for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;

(xi) Contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government;

(xii) Rural development projects; slum area development/re-development;

Explanation.— For the purposes of this item, the term ‘slum area’ shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.”

(xiii) Social projects and programs/projects that benefit the society;

(xiv) Any other activities in relation to the above and all other activities which forms part of CSR as per Schedule VII of the Companies Act, 2013 (the “Act”) and rules made thereto, as amended from time to time. (Collectively referred to as “CSR Activities”).

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