Kaushalya Logistics Allocates Rs 12.39L for CSR in FY24

Kaushalya Logistics Limited has consistently demonstrated its commitment to sustainable business practices by integrating Corporate Social Responsibility (CSR) into its operations. In line with its focus on environmental protection and social contribution, the company continues to prioritize responsible business performance. For the financial year 2023-24, Kaushalya Logistics Limited allocated Rs 12.39 lakh towards its CSR obligations. This report provides an overview of the company’s CSR activities, its financial performance, and future commitments to social and environmental development.

Kaushalya Logistics Limited follows a CSR policy that aligns with the Companies Act, 2013. The policy outlines the company’s philosophy and approach towards meeting its social responsibilities. It emphasizes sustainability, accountability, and transparency in all CSR efforts. The CSR policy can be accessed on the company’s website, reflecting its commitment to responsible and ethical business practices.

The board of directors, instead of forming a separate CSR committee, oversees the company’s CSR activities in line with Section 135 of the Companies Act, 2013, as the CSR budget for the financial year falls below Rs 50 lakh. The Board has been tasked with monitoring and approving the CSR budget and ensuring that the allocated funds are spent on meaningful projects.

For the financial year 2023-24, Kaushalya Logistics Limited reported a profit before tax of Rs 12,24,83,931.68. Based on the company’s average net profits for the last three years, the board allocated Rs 12,38,536 towards CSR activities. This amount represents 2% of the company’s average net profit, as mandated by the Companies Act.

Kaushalya Logistics Limited’s CSR obligation for FY 2023-24 was Rs 12.39 lakh. The company has made provisions for this expenditure and intends to fulfil this obligation by September 30, 2024, as per Section 135(5) of the Companies Act, 2013. The funds are expected to be directed towards the Prime Minister’s CARES Fund or other eligible CSR activities listed in Schedule VII of the Act.

During the financial year 2022-23, the company faced a shortfall of Rs 7.79 lakh in CSR expenditure. This amount has been accounted for in the current financial year, ensuring that the shortfall is covered alongside the current year’s CSR obligation. By the end of FY 2023-24, the company had provisioned the full Rs 12.39 lakh for CSR activities.

Despite not conducting CSR activities in the previous financial year (2022-23), Kaushalya Logistics Limited is now prepared to execute impactful projects in 2024-25. The company plans to focus its CSR efforts on areas such as:

Supporting underprivileged communities with access to quality education. Investing in initiatives aimed at improving healthcare services in rural and underserved areas. Engaging in activities that promote environmental protection, such as tree plantation drives and waste management projects. Contributing to poverty eradication and community development through various social welfare programs.