INVESTOR RELATIONS

Corporate Social Responsibility (CSR)

CSR PHILOSOPHY

Contributing to the well-being of the communities and the society is not only a Corporate Social Responsibility for Neogen Chemicals Limited (Neogen) but a significant part of its vision and mission right from its inception. Neogen has identified health, education, rural community development and environmental sustainability as major areas of work under CSR. It has begun its journey towards shoring up mangrove cultivation, water availability, supporting farmers to increase their incomes, education to children and medical support to people who need life changing surgeries as its main focus areas. For the past one year or so, it has also been extending various kinds of support to Covid affected people.

Neogen’s efforts towards contributing to the well-being of the society started ever since the company became operational in 1991. Since then, it has collaborated with various non-government organisations to help the needy. Pursuant to the provisions of Companies Act, 2013 the Company gives preference to the local area and areas around where it operates which is, mainly in Maharashtra and Gujarat. For the communities, we have invested in environment-friendly technologies and undertake various CSR and CER programmes.

OUR KEY CSR INITIATIVES

ENVIRONMENT SUSTAINABILITY & AGRICULTURE PROJECTS

  • Recognizing the importance of mangroves in soil protection, Neogen has contributed towards the Mangroves Project undertaken by United Way Mumbai and have planted around 10,000 saplings in and around Mumbai covering 23 hectares of land. Recently it has contributed for plantation and rejuvenation in 10 hectares of additional degraded wetland near Ghatkopar Pumping Station (Off Eastern Express Highway, Ghatkopar (East)). United Way Mumbai has also educated about 8000 people residing in these areas about the importance of mangroves.
  • Neogen in collaboration with Bhasha Research and Publication Centre (“Bhasha”) has been empowering small and medium Adivasi farmers in Tapi district and supporting agricultural activities by contributing towards seed distribution, wormi culture and wormicompost beds. Neogen has provided around 2375 kgs. of hybrid seeds of Dangar and Bhinda to small-scale farmers of South Gujarat covering almost 20 villages through Bhasha, so that their agricultural expenses may go down. This program has assisted over 300 farmers in increasing yields with over 700 acres of land. The Company has contributed towards wormi culture and has provided 20 wormicompost beds to around 4 villages, which has benefited small scale farmers to increase their yield.
  • During FY23, Neogen has collaborated with Tapi Rachnatmak Trust, for execution of vermicompost beds projects and Gobar Gas Project at Majathan Village of Gujarat, providing seeds & fertilizers to 10 farmers which helped them to improve their yield and income, and collaboration with SoCleen to impart awareness on environment preservation and protection.

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REDUCING WATER SCARCITY AND CONSERVATION AND MANAGEMENT OF NATURAL RESOURCES

  • Neogen has in its long association with Bhasha Research and Publication Centre (“Bhasha”) and its affiliate Tapi Rachanatmak Trust has actively worked towards improving water and land resource management and making water available to the villages facing water scarcity for domestic use and to create irrigation facilities. The company has contributed towards construction of over 56 borewells/ tube wells till date after conducting surveys and identifying villages facing water scarcity, which has benefited around 17 villages and 4 talukas in Tapi District, Panchamal Region and other Tribal villages in Gujarat with over 194 farmers benefiting from the project. Additionally, we are promoting resource sharing within the community to achieve cost efficiencies, while establishing these borewells. These activities were undertaken to create a practice of sharing resources with the community whereby the expenses lessen, and the farmers can be free from loan.
  • The company has contributed towards providing an uninterrupted potable water in Majantha village in Padra Taluka, Gujarat, by constructing a water storage tank along with new borewell under the Government of India’s Swajaldhara Yojna which has benefitted 950 households with a population of more than 5000 in that village to get uninterrupted potable water supply through this project.
  • In Taluka Padra, Karakhadi, the villagers are using ground water for their daily use for drinking as well as domestic use. Neogen has contributed towards constructing a water distribution system by laying a pipeline network to connect borewell with overhead tank to cater water supply needs and availability of water for domestic use. This benefitted nearly 500 households with a total population about 10,000.
  • During the FY23, Neogen has worked in close co-ordination with Karakhadi Gram Panchayat, for the purpose of laying potable water pipeline from Sondha Village to Karakhadi Village. The project has helped the Karakhadi village people to get sweet water through this pipeline. This benefitted nearly 5000-10000 nearby village people. Furthermore, Neogen had also took initiative of laying pipeline for supply of drinking water to villagers at Dapoli, in Ratnagiri District of Maharashtra which had benefitted around 1000 nearby villagers. In addition, Neogen in close co-ordination with Vimukt Foundation, executed the project of Water Management Programme (Lake Excavation), for desilting lakes of various villages in Banaskantha District which helped the society for storage of rainwater for day-to-day use of village people.
  • Neogen has also contributed towards implementation of RO Plant in Majathan Village of Gujarat, for ensuring safe drinking water for the benefit of thousands of villagers.

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PROMOTION OF EDUCATION, ARTS AND LITERATURE

  • Neogen has strong belief in education playing a role in upliftment of people. It, therefore, whole-heartedly supports education in tribal/village areas. Neogen has provided books, notebooks, laptops, salaries of teachers, shoes and even meals to some schools in Gujarat and Mumbai, Maharashtra benefiting more than thousands of students and it has also sponsored education of students. The funds have also been used for upliftment of weaker sections in Gujarat. In collaboration with Bhasha Research and Publication Centre, we have extended the support to Vasantshala Mother Tongue and Multilingual Training Centre, which conducts primary schooling programmes for out-of-school children of migrant tribal labourers. This has been noticed by BBC and had run programme on how this scheme benefits other than formal scheme for tribal delivering growth. These programmes enable dropouts to learn in their mother tongue, before transitioning to formal education in government schools.
  • Additionally, we promote child education and learning of performing arts by providing quality educational facilities to tribal & village children, thereby becoming instrumental in bringing about positive changes in their culture for generations to come through assistance Shree Mahadev Educational and Rehabilitational Public Charitable Trust, Rural Community Development Centre, Shrimad Rajchandra Aatma Tatva Research Centre, and Lohana Vidyarthi Bhavan.
  • Children are the future of the country, and their education is critical for the country’s development. We supported Vicharta Samuday Samarthan Manch for their hostel at Kakar village which provides accommodation to 160 children from nomadic community.
  • Further, we supported Shrimad Rajchandra Aatma Tatva Research Centre for sponsoring education of 10 children for a year and providing food for children.
  • The Company has also extended its support to The Community Library Project (TCLP), which envisions a strong community-based public library system. We support the TCPL’s vision to create a more equitable and thoughtful society by empowering all its members and providing free access to infrastructure and knowledge.
  • We supported Gujarati Sahitya Parishad in promoting Gujarati language. Financial assistance was provided towards – translating an anthropology of landmark works in modern world poetry into Gujarati; holding a two-day conference on world poetry, a multilingual event involving contemporary Indian poets and critics; and organizing Yuva Manch, a conclave of young writers of Gujarati and other languages. We have sponsored Forbes Gujarati Sabha on its 3-year project to develop multi-volume books on contemporary Indian poets across India. This is aimed at preserving a broader perspective of Indian literature.
  • During FY23, Neogen in collaboration with Helping Hands for humanity contributed towards development of school for children in a tribal village at Aarey near Mumbai, and development of multi-volume books on contemporary Indian poets across India, which ultimately led to providing education to students and preserving a broader perspective of Indian Literature. Furthermore, Neogen also contributed towards payment of school fees of 15 students at Dyan Vikas Sansthaat Koparkhairne Navi Mumbai to ensure continuity if education of students and has also contributed towards imparting emergency preparedness training program at Lakhigam Village of Gujarat, which resulted in over 100 Students of Primary & Secondary school being trained to handle any emergency and rescue operation.
  • Further in FY23, Neogen has majorly contributed to Indian Planetary Society for promotion of Astronomy and Development of Astronomy related Expertise for our nation and for imparting of practical training to freshers and experienced candidates having Knowledge and background in Astronomy and conduct various progressive research in astronomy, as well as sponsoring Professors Salaries and telescope replacement, at the establishment located at Kutchh, Gujarat.
  • Neogen has also contributed towards providing library shelfs, benches for sitting, e-learning kits, library, sports equipment’s and handwash station for students at Zilla Parishad School at Palli and Kiravali Village in Bhiwandi, Thane.

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REDUCING HUNGER AND MALNUTRITION, PROMOTING HEALTH CARE INCLUDING PREVENTIVE HEALTH CARE AND SANITATION

  • Neogen has contributed towards “Project Poshan” undertaken by United Way Mumbai, to create enabling environment for improving child nutrition through nutritional supplementation, growth, monitoring, and capacity building for community health workers and parents. Under the initiative, we have assisted United Way Mumbai to set up kitchen gardens at Anganwadi centers to solve the child hunger and malnutrition problems by supplementing their diet with nutritious vegetables and fruits along with educating pregnant and lactating mothers. The Company has contributed toward providing nutrition to over 50 children below 5 years of age. During the FY 23, Neogen had contributed towards “Project Poshan” for providing food and nutrition to approx 69 Children between 2 – 6 years of age group, conducting sessions on health and hygiene and setting up Kitchen Gardens in villages.
  • Neogen has through INGA Health Foundation (“Inga”) provided a medical support to children, which has helped in treating infants with congenital skull and facial deformities/anomalies which involves not just the surgery but also Orthodontics, Speech Therapy and Counselling and Genetic evaluation to enable these children and young adults to integrate into the society through a three state-of-the-art pan-India treatment centers of INGA. The Company has contributed for treating 11 cleft, 8 maxillofacial patients and 6 surgical treatments to remove deformities giving them a chance to live a normal life.
  • The company has also actively contributed towards distribution of food parcels amongst the children’s and community in rural areas benefiting over, providing sanitation material to babies and Physio theraphy treatment.
  • Contributed towards distribution of food to over 197 Needy People for 15 days through the Food Distribution Program titled “Shree Raj Roti Centre” undertaken by Shrimad Rajchandra Aatma Tatva Research Centre.
  • During FY23, Neogen contributed towards, providing a full-time ambulance to be used in medical emergency situations. It is projected to have around 10,000 villagers as beneficiaries for this project, in-close collaboration with.
  • Furthermore, Neogen has contributed towards construction of clean toilets for over 40-45 students at Zilla Parishad School at Palli and Kiravali Village in Bhiwandi, Thane and has also contributed towards treatment of thalassemia patient.

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RURAL DEVELOPMENT AND DISASTER MANAGEMENT (COVID-19 SUPPORT)

During these turbulent times, Neogen has actively contributed towards disaster Management, health, safety, preventive care and relief to combat COVID-19 challenges. In our effort to combat Covid-19 crisis, we collaborated with United Way Mumbai and contributed towards providing preventive health care solutions and promote higher use of sanitation. Additionally, this included disaster management activities targeted to curb further spread of the virus and ensure the health and safety of people. From April 2020 onwards, Neogen has actively provided financial assistance for combating COVID situation and providing the following reliefs:

  • Distribution of 565 PPE kits through United Way, Mumbai to the Public Health Department, Thane Municipal Corporation included a coverall, pair of shoe covers, N-95 mask, punk goggles, face shield and pair of nitrile gloves. These kits have been certified by Haffkine Biopharmaceuticals Corporation, in accordance with directives by the Government of Maharashtra.
  • Contribution to PM Care Fund.
  • Paying Ex- Gratia to its contractual/ Casual workers to combat COVID- 19 pandamic which helped them to meet their necessities and take preventive care to combat COVID pandemic.
  • Contributed to the Police Department, karakhadi towards Preventive care and relief.
  • Donating 1239 Covid kits to Karakhadi Gram Panchayat and other needy people directly.
  • Donating Sanitizers to villages and government offices in Vadodara District during peak of pandemic.
  • Contributed to VK memorial trust for supply of food packets for lunch and dinner to around 600 people per day including those could not meet its food requirements and to the people who got stuck at Kalyan railway stations during initial lockdown and distribution of around 70 parcels which included basic ration amongst the needy families staying in Kaylan and in villages nearby Kalyan. And the effort to provide COVID related relief continues including vaccination drives providing preventive kits and sanitization.
  • Further during FY23, Neogen in close co-ordination with Tapi Rachnatmak Trust, has supported small businesses with over 33 beneficiaries, in order to ensure that they can start their livelihood and fulfil their legitimate needs and thereby eradicating poverty.

Lastly, Neogen contributed towards construction of 20 houses for Nomad Settlement at Charvada village, Surendra Nagar District of Gujarat.

For Neogen, the journey of community development and environment protection and refurbishment continues.

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CSR Budget

F.Y. 2023-24

CSR AMOUNT TO BE SPENT IN F.Y. 2023-24 Amount in INR Lakhs
Profit for the F.Y. 2020-21 4437.18
Profit for the F.Y. 2021-22 5673.08
Profit for the F.Y. 2022-23 7180.34
Total 17290.60
Average of last 3 years profit 5763.53
CSR Amount to be spent in F.Y. 2023-24 (@2% of average profit of last three years) 115.27

F.Y. 2022-23

CSR AMOUNT TO BE SPENT IN F.Y. 2022-23 Amount in INR Lakhs
Profit for the F.Y. 2019-20 4127.8
Profit for the F.Y. 2020-21 4437.18
Profit for the F.Y. 2021-22 5673.08
Total 14238.06
Average of last 3 years profit 4746.020
CSR Amount to be spent in F.Y. 2022-23 (@2% of average profit of last three years) 94.92
CSR Areas Budgeted Allocation F.Y. 2022-23 (Rs. in Lakhs)
Environmental Sustainability 14.24
Management of Natural Resources 14.24
Education 37.96
Health Care & Sanitation 14.24
Rural Development 14.24
Total 94.92

F.Y. 2021-22

CSR AMOUNT TO BE SPENT IN F.Y. 2021-22 Amount in INR Lakhs
Profit for the F.Y. 2018-19 2934.40
Profit for the F.Y. 2019-20 4127.80
Profit for the F.Y. 2020-21 4437.18
Total 11499.38
Average of last 3 years profit 3833.12
CSR Amount to be spent in F.Y. 2021-22 (@2% of average profit of last three years) 76.66

Area wise Budget Allocation

CSR Areas Budget Allocation INR Lakhs (F.Y. 21-22)
Environmental Sustainability 11.50
Management of Natural Resources 11.50
Education 23.66
Health Care & Sanitation 20.00
Rural Development 10.00
Total 76.66