Company: Ispat Industries
Income 2005-2006 = Rs 6000 Cr (rounded off)
Net profit after tax (05-06) = Rs 700 Cr (rounded off)
Karmayog CSR Rating- 2/5
CSR activities:
Ispat Industries has always taken an active interest in the social welfare of the community in which it operates. The company’s initiatives towards fulfilling its philosophy of corporate social responsibility include providing material and monetary aid to schools, primary health centres, hospitals, sports clubs and places of worship. In addition, Ispat has made major contributions in the following areas:
Water
In an activity which occurs around the year, IIL provides 44 villages with free drinking water. The company permits its water pipeline to be tapped so that local people get a constant source of drinking water.
Beautification of public spaces
IIL believes that its presence should add to the physical beauty of the surroundings of the town. Therefore, it has taken upon itself, the beautification of public spaces with the concurrence of the local administration. The two prominent places are as follows:
(1) The Collector’s Garden, opposite the collectorate and
(2) Two public roundabouts near the state transport stand
School uniforms and books
IIL routinely distributes textbooks, school uniforms, notebooks and computers to students of schools in the vicinity. This is done to reduce the dropout rate in the area. IIL believes that helping a student by motivating him to complete at least his schooling would enable the child to get a slightly better chance in the outside world.
Ispat donates computers to rural school
Speaking on the occasion of the Republic Day celebrations, the principal of Janata High School, Gadab, heartily thanked Ispat Industries Limited (IIL) for donating two computers to the school students.
The school authorities hailed the generosity displayed by IIL and recounted instances in the past when the company had come forward to help it out of difficult situations. The two computers donated by the company, they said, would go a long way in familiarizing their students with the functioning and handling of computers. To this Dr B Yadava, director (Community Development), IIL, responded that the company believed it was its duty to lend a helping hand to the needy.
IIL was represented at the function by Aloysius Lobo and Kanchan Kothekar of the Land Department, Geetapuram.
The Republic Day celebrations at the school premises included flag hoisting, calisthenics and a variety of entertainment programmes, with almost the entire village in attendance. Later in the afternoon, a kabbadi tournament sponsored by IIL was held adjacent to the school.
Disaster :
Mumbai, India’s financial capital came to a standstill as incessant rains disrupted life and living on 26th July ’05. During this trying time, the administration departments of Ispat Industries Ltd. rendered special support to the employees and their families in and around areas of its operations.
Ispat’s employees, with the help of the District Administration, helped in clearing the flood water on the Kharpada Bridge that was un-operational due to high waters flowing in the forwarded areas towards Alibag.
On 26th July ’05, Ispat also provided earth-moving equipments for saving the lake from bursting. An emergency alarm was raised by the District Administration for vacating more than 10,000 people from the vicinity of the lake. With sheer efforts of the District Administration and Ispat’s timely support, the situation was handled, thereby averting the disaster.
On 27th July ’05, Ispat authorities ensured that the debris and the muck gathered on the main roads was cleared. On the call of the District Collector, Mr. Wankhede, Ispat provided more than 10,000 food packets to the devastated flood-stricken population of Mahad and nearby villages.
Ispat’s contribution was acknowledged by the District Authorities, residents of Pen and the villagers. The officials also received a letter of appreciation from the RTO – Pen.
Ispat Marathon
The Ispat Marathon held annually in Alibag, a sleepy town that neighbours Ispat’s Dolvi plant, is a district-wide programme organised by the company in cooperation with the Alibag District Sports Office.
Put on track with a view to nurturing an interest in sport among the youth, this event is one of the most eagerly anticipated competitions in the area, with participants from all around the district joining the locals in an all-out race against time.
Bearing a tagline that proudly hails the ‘Nerves of Steel’ of its participants, the Ispat Marathon puts the sheer talent and stamina of its over 5000-odd runners through a gruelling test.
The marathon comprises two events – a Cycle Marathon separated into two races, wherein men are required to cover a distance of 30 km and women a distance of 20 km. The second event is the Mini Marathon, which has five categories of races for men, women and children. The most testing category here is the mens’ race, which, at 21 km, is half the distance of the Olympian standard.
The marathon proves to be a big draw for aspiring sportspersons, particularly the underprivileged, for whom it acts as a platform to showcase untapped potential. Moreover, the competition works to bring together the young and old, women and children, budding talent and those who just want to be a part of the fun. Most participants, of course, steel their resolve and competitively gun for the winner’s haul that includes a generous sum of prize money, a tracksuit and a sports kit for the top three runners in each category.
To boost the aspiring runners, celebrity chief guests are invited to officiate at the event. This year, the Ispat Marathon was held in February, and the presence of Marathi film, stage and TV artistes including Nirmiti Sawant, Pandharinath Kamble, Sandeep Kulkarni and Bollywood film star Shiney Ahuja added spice to the event.
IIL’s contribution to the event is the prize money, publicity and promotion of the marathon. The races are handled by the officials of the district sports office.
Ispat wins coveted Award for Corporate Social Responsibility
Ispat Industries Limited has been awarded the ‘Golden Peacock Award for Corporate Social Responsibility – 2005’ by the award Jury, under the Chairmanship of Justice P N Bhagwati, former Chief Justice of India in the category of ‘Private Sector’. The award instituted by the Institutes of Director, New Delhi, is based on the pattern of the Malcolm Baldrige Awards in USA for outstanding achievements.
Amount spent on CSR : No information regarding the amount spent on CSR was available on the homepage .
Contact details : Ispat Industries Ltd
Corporate Office
7th Floor, Nirmal,
Nariman Point,
Mumbai 400 021
Tel: 22 66542222
Fax: 22 2285519
E-mail: contactus@ispatind.com
Web address : www.ispatind.com