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CSR POLICY
Company Origin
Diamond Metal Screens Private Limited., established in 1987, is a leading Asian manufacturer of high-quality perforated metal screens. With over 35 years of expertise, we serve diverse industries including construction, architecture, automotive, and filtration. Our state-of-the-art 11,000 sq. m. facility houses advanced perforating presses, fabrication machinery, and a dedicated tool room to deliver customized solutions with precision.Renowned for our commitment to quality and efficiency, we offer a wide range of perforated metal products in various materials, hole patterns, and finishes. Our experienced team provides expert guidance and support throughout the entire process, from design to installation.
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CSR in India
CSR in India has traditionally remained a philanthropic activity. While the corporate houses, along with this company, have been traditionally engaged in doing so many CSR activities voluntarily, the new provisions of CSR put formal and greater responsibility on companies to set out a clear framework and process to ensure strict compliance.It is the Companies Act, 2013 that has brought the concept of CSR into the mainstream and now, under its "Comply–or–Explain" stipulation, requires every qualifying Company to have a Corporate Social Responsibility Committee for effectively monitoring the CSR activities of the Company. Further, the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as "CSR Rules") lay down the framework and modalities of carrying out CSR activities specified in Schedule VII of the Act.
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VISION & SCOPE
To be a leading force in sustainable and responsible industrial practices, creating a positive and lasting impact on the environment, society, and economy through innovative solutions and community partnerships.This Policy covers current as well as proposed CSR activities to be undertaken by the Company and examining their alignment with Schedule VII of the Act as amended from time to time. It covers the CSR activities which are being carried out in India only and includes strategy that defines plans for future CSR activities.
CSR Focus Areas:
The Company proposes to implement its CSR activities in various sectors stated hereunder:
•Healthcare
• Education
• Sanitation
• Medical Aid
• Environment Protection
• Rural Development Projects
• Contribution to technology incubators located within academic institutions
• Go Green Initiatives
• Human Rights
• Any other area as may be prescribed by Schedule VII amended from time to time
CSR Budget/CSR Spend
The Act mandates companies meeting the qualification criteria to allocate certain portion of its annual net profits (before tax) during the three immediately preceding financial years to be spent on CSR Activities that fall under purview of Schedule VII of the Act.
CSR Expenditure:
Net profit means profit more fully described under Rule 2(f) of the CSR Rules. The CSR expenditure shall include all expenditure including contribution to corpus or on projects or programs relating to CSR activities approved by the Board of Directors but does not include any expenditure on an item not in conformity or not in line with activities stated under Schedule VII of the Act.
Expenditure on CSR capabilities
The Company may build CSR capabilities of their own personnel as well as of their Implementing Agencies and such expenditure shall not exceed 5% of the total CSR spend of the Company as stated in the Rules from time to time.
CSR Monitoring and Reporting Framework
The CSR policy will be monitored periodically by the committee to ensure the proper implementation of CSR activities. The Committee will prepare a comprehensive CSR report annually, outlining the CSR activities undertaken, the amount spent and the impact achieved.
Review Periodicity and amendment:
The Board shall periodically review its CSR Policy from time to time, if so needed and make suitable changes as may be required and submit the same for the approval of the Board.
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CSR COMMITTEE
Constitution​
SI No | Name of the director | Designation/Nature of Directorship |
|---|---|---|
1 | Mr. Kunal K. Badani | Chairman and Director |
2 | Mr. Kishor J. Badani | Managing Director |
3 | Mrs. Manisha K. Bandani | Director |
4 | Mr. Satish M. Ptail | Director |
Role of the CSR Committee
• Formulate and recommend a comprehensive CSR policy aligned with the company's strategic objectives and societal needs.
• Develop and oversee the implementation of CSR initiatives and projects
.• Recommend the allocation of CSR funds in accordance with the company's CSR policy and budget.
• Monitor and evaluate the progress and impact of CSR activities.
• Build and maintain relationships with stakeholders, including NGOs, government agencies, and communities.
• Ensure compliance with applicable CSR regulations and reporting requirements.
• Submit an annual report of CSR projects/activities to the board.
• Monitoring CSR Policy from time to time.
• Such other policies as the Board may deem fit.
Role of the Board in CSR
• Approve the CSR Policy of the Company after considering the recommendations given by the committee.
• To disclose the contents of such a policy in its report and to place it on the company’s website, if prescribed.
• To ensure that the company spends, in every financial year, at least 2% of the average net profits made during the three immediately preceding financial years, in pursuance, of its CSR Policy.
• Further, while spending the amount earmarked for CSR activities, preference should be given to local areas and areas around the Company where it operates.