Persistent Systems

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124 • Annual Report 2018-19
Shaping the future of software driven business
Annexure G to the Report of the Directors
Annual Report on Corporate Social Responsibility (CSR) activities of the Company for the financial year 2018-19
1. A brief outline of the Company’s CSR policy, including overview of projects or programs proposed to be undertaken
and a reference to the web-link to the CSR policy and projects or programs.
Sustainability, consciousness, actions on environment and climate change awareness and contributions to reducing social
imbalance are the corner stones of your Company’s Corporate Social Responsibility.
Your Company conducts business in a sustainable and socially responsible manner. This principle has been an integral part
of your Company’s corporate values for more than two decades. Your Company is committed to the safety and health of
employees, protecting the environment and the quality of life in all regions in which your Company operates.
Your Company voluntarily started contributing to the CSR initiatives since 1995-96 i.e. much before the legislations made
it compulsory for the corporates. Your Company used to donate 1% of its consolidated net profits till FY 2011-12 and 1.25%
of its consolidated net profits till FY 2013-14. Thereafter, the Company is contributing 2% of the average net profit on
unconsolidated basis of preceding three financial years.
To institutionalize the CSR initiative of your Company and to develop a systematic approach to administer the process of
grant of donations, your Company formed a Public Charitable Trust named as ‘Persistent Foundation’(the Foundation) in
the financial year 2008-09.
A little help goes a long way. The story of Persistent Foundation stands as proof of this. Since 2009, the helping hand of
the Foundation has been trying to make communities and individuals stand on their feet. The Foundation started with a
humble purse of a few lakhs which gradually increased to INR 7 crores as your Company grew in size and revenue.
Projects and programs proposed to be undertaken:
Persistent Foundation is committed to contribute towards improving the quality of life that every individual enjoys and
thus, benefiting the community at large. The work of the Foundation focuses on three areas – Health, Education and
Community Development, in both Urban and Rural areas.
In each of these focus areas, key areas of work chosen by the Foundation for executing its own projects are as follows:
a. Education:
• Girls Scholarship Program for supporting girls who are undergoing their graduation in computers. The key highlight
of this program is the engagement of your Company’s employees in student selection process.
• Student Sponsorship Program through which more than 200 students are supported every year. This program is
supported by the donations from your Company’s employees.
• School uplifting program for providing infrastructural support to schools and conducting programs for improvement
of quality of education.
b. Health:
• Curative Health program by conducting cataract surgeries, facial cleft surgeries, Jaipur foot bal shalyakriya.
• Preventive Health Program through health check-ups at schools, mobile medical unit, breast cancer screening and
blood donation camps.
c. Community Development:
• Village upliftment, through watershed development under ‘Jalyukt Shivar Yojana’ of the Government of Maharashtra
• Urban upliftment through zero garbage projects, skill development programs, working for elderly and differently
abled sections of the society.
d. Assistance in Natural Calamities
More details on the CSR Policy and projects are available on the Company’s website as per the link given below:
2. The Composition of the CSR Committee:
The Board of Directors of your Company has constituted the CSR Committee to help the Company to frame, monitor and
execute the CSR activities of the Company under its CSR scope. The Committee defines the parameters and observes