Corporate Social Responsibility

Preamble

In line with its fundamental and consistent commitment to quality, welfare, sustainable development of communities and corporate compliance, DOMS Industries Limited (“Company”) pledges, through this Corporate Social Responsibility (“CSR”) Policy, to integrate its commitment into its responsibilities as a corporate entity. Through its CSR initiatives, the Company seeks to respond to the needs of less-privileged communities in a sensitive and impactful manner and enable these communities to achieve a better quality of life. As a responsible corporate citizen, the Company contributes towards inclusive growth by empowering communities and accelerating development.

Implementation of Policy

The Company’s CSR Policy has been developed in conformity with the provisions of Section 135 of the Companies Act, 2013 and the corresponding rules made thereunder (‘CSR Rules’), and Schedule VII of the Act. This Policy was adopted by the Board at its meeting held on 17th August, 2023 and is effective from the date of adoption.

Objective of the Policy

• To operate the business in an economically, socially and environmentally sustainable manner while recognising the interests of all stakeholders.
• To take up programmes that benefit the communities in and around its work centres and, over time, enhance the quality of life of people in its areas of operation.
• To generate community goodwill and reinforce a positive, socially responsible image of the Company as a good corporate citizen of the country.

CSR Focus Areas

• Eradicating hunger, poverty and malnutrition; promoting preventive health care, sanitation and safe drinking water.
• Promoting education, including special education and vocational skills, especially among children, women, the elderly and the differently abled.
• Promoting gender equality and empowering women; support for orphanages, old-age homes and day-care centres.
• Ensuring environmental sustainability, ecological balance, animal welfare, agroforestry and conservation of natural resources.
• Protection of national heritage, art and culture; promotion of traditional art and handicrafts.
• Training to promote rural, nationally recognised, Paralympic and Olympic sports; and rural & slum-area development.

CSR Expenditure

For achieving its CSR objectives, the Company allocates at least 2% of its average net profits made during the three immediately preceding financial years as its annual CSR budget. Administrative overheads are capped at 5% of total CSR expenditure for the financial year, and any surplus arising from CSR activities is ploughed back into CSR rather than treated as business profit.

Governance

The Corporate Social Responsibility Committee comprises three or more Directors, of whom at least one is an Independent Director, with the Company Secretary acting as Secretary to the Committee. The Committee formulates and recommends the CSR Policy and Annual Action Plan to the Board, monitors implementation and periodically reports the status of CSR activities to the Board.