“During the year, the company ought to have spent Rs 55.51 crore on CSR activities. The actual spend was Rs 34.2 crore,” the company said in its annual report.
Despite best efforts, the company has been unable to execute its ambitious plan of setting up a state-of-the-art JCI and NABH accredited hospital in Mumbai as it could not identify a suitable plot, it said.
Lupin however said “it aims to continuously increase its CSR spend and is constantly exploring new areas/activities, particularly deeper sustainable projects to accelerate the spend.”
During the 2020-21 fiscal, the company will also make CSR spends towards the relief efforts for mitigating the COVID-19 pandemic, including contributions to the PM CARES Fund, it added.
The company is implementing CSR initiatives through Lupin Human Welfare and Research Foundation (LHWRF) which was established in 1988. It focuses on economic, social, infrastructure development and natural resource management.
LHWRF has a presence in 4,546 villages located in 63 blocks of 23 districts spread across nine states in India. It operates through 20 centers.
