Our Vision

To actively contribute to the social and economic wellbeing of communities in the areas of our operations, thereby working towards upliftment of weaker sections of society.

Background

With effect from April 1, 2014, every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs.1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility activities as per the requirement of Section 135 of the Companies Act, 2013 (“the Act”). The CSR must be with respect to any of the activities in the areas or subjects as mentioned in Schedule VII of the Act.

CSR Committee

The roles and responsibilities of the CSR Committee include:

  • Formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company in the areas or subjects as specified in Schedule VII of the Act.
  • Recommend the amount of budgeted expenditure to be incurred on the activities referred to in clause (1) above
  • Monitor the Corporate Social Responsibility Policy of the company from time to time
  • Institute a transparent monitoring mechanism for implementation of the CSR projects/programs/activities
  • Monitor implementation of CSR activities annually. Any other matter as the CSR Committee may deem appropriate after approval of the Board of Directors or as may be directed by the Board of Directors from time to time.7. Any other matter which CSR Committee deem necessary as their responsibility as per the requirement of the Companies Act, 2013 and rules made thereunder subject to necessary approval of Board.
  • CSR Committee M embers

    Companies Covered by CSR Rules are required to Constitution a Corporate Social Responsibility Committee. Accordingly a committee was formed with the following members:

  • Shri Ajith Thankappan Nair Saraladeviamma (nominee of SIDBI)
  • Shri A. Krishnaswamy (representative of Union Bank of India)
  • Shri Suryanarayanan K (representative of Indian Bank)
  • Shri Cyriac Davies (Managing Director)
  • The committee shall review the operations of the CSR Activities of the company and a report of the same shall be made available for discussion in the Board Meetings of the company

    Our Focus Areas

    The CSR Policy does not include the activities undertaken in pursuance of normal course of business of a company

    Subject to the necessary approvals, All projects/programs/ activities will be will be executed directly or through registered and accredited trust, section 8 Company, society or NGO or in collaboration with other companies in any of the following areas subject to the necessary approvals of the CSR Committee and the Board :

  • Providing basic amenities and machineries/ equipments to the health care centres/ hospitals etc.
  • Education, Skill Development Initiatives, Women Empowerment Programmes to make them employable.
  • Ensuring Environmental Sustainability
  • Protection of national heritage , art and culture
  • Rural development projects
  • contributions or funds provided to technology incubators located within academic institutions which are approved by the Central Government
  • Contribution to the prime minister's national relief fund or any other fund set up by the central govt. for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
  • These projects/programs/activities shall be undertaken at areas which are in proximity to the operation areas of KITCO

    Annual CSR Budget

    In alignment with The Companies Act, 2013 the Corporation shall earmark as CSR Budget, at least 2% of the average of net profits (calculated as per Section 198 of the Act) of the company made during the three immediately preceding financial years.

    Implementation

    To implement the Company's CSR Programmes through Company personnel or through external implementing agencies or through separate trust if required shall be formed for this purpose

    CSR Expenditure

    CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programmes undertaken in accordance with the approved CSR Plan. Moreover, any surplus arising from any CSR Programmes shall be used for CSR. Accordingly, any income arising from CSR Programmes will be netted off from the CSR expenditure and such net. The surplus arising out of the CSR projects or programs or activities shall not form part of the business profits of the Company. amount will be reported as CSR expenditure

    Website :

    This CSR Policy shall be made available in the website of the Company.

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