POLICY ON CORPORATE SOCIAL RESPONSIBILITY
At Nagarjuna, we believe in philosophy of "SERVING SOCIETY THROUGH INDUSTRY".
We live every moment of life in harmony with nature to create value for ourselves, our stakeholders and the society.
At Nagarjuna, we define CSR as:
- Conducting affairs of our company in a socially acceptable manner.
- Understanding, supporting and developing the communities and the cultures within which we work.
- protecting the environment and safety of the people connected with the company and the surroundings.
- enhancing the value of the company through sustainable growth.
At Nagarjuna, CSR is an initiative to “create new value” to economic, environmental and social issues and is intended to identify our Company with the society to establish rapport, increase competitiveness, and achieve sustainable growth, for better social development.
Practicing CSR does not mean compromising our business standards or values. It means taking a fresh approach to our objectives in order to reduce the social and environmental impacts of our business and to meet the needs of all our stakeholders.
We recognise that we must integrate our business values and operations to meet the expectations of our stakeholders. They include customers, employees, regulators, investors, suppliers, the community at large and the environment.values and operations to meet the expectations of our stakeholders. They include customers, employees, regulators, investors, suppliers, the community at large and the environment.
- We recognise that our social, economic responsibility and commitment to preserve environment forms integral part of our business. We aim to demonstrate these responsibilities through our actions and corporate policies.
- We take seriously all feedback from our stakeholders and, aim to meet their
aspirations and our commitments.
- We shall be honest and transparent in communicating our strategies, targets, performance and governance to our stakeholders at all times.
- The responsibility of translating this policy into action rests with all associates throughout the company.
Nagarjuna’s CSR Framework consists of following four important dimensions:
- Investors and other stakeholders
Investors and other stakeholders:
We strive to maximize shareholderWe strive to maximize shareholders wealth through our consistent performance to achieve long term sustainable growth.
- We will provide information on our policies, performance and activities to all stakeholders and shareholders on a timely and accurate basis
- We shall ensure a high level of business performance and aim for best practices of corporate governance
- We shall provide honest, accurate, reliable, ethical, qualitative and complete corporate information to the shareholders to enable them make investment decisions and be proactive in clarifying any information which may be detrimental to the interests of all stakeholders.
- All business decisions will be made in the best interests of the company and not motivated by personal interest or gain.
- We ensure that no insider will misuse the price sensitive information to their personal benefit which is detrimental to the interest of other stakeholders
We shall develop strong and ethical business relationships with our customers, suppliers and others. We aim at manufacturing products which improve our customer’s productivity, profitability and are environment-friendly.
- We shall deliver high quality products which meet their needs and also promote the safe and responsible handling of the products.
- Customer complaints shall be resolved in the shortest time to their satisfaction.
- We shall treat all customers fairly and with respect.
- We will work with our suppliers and other business partners on the basis of mutual respect and trust and so far as practicable, require that they act in accordance with our values.
At Nagarjuna there is no ‘Human Resource Development’ but only ‘Human Potential Development’ and there are ‘no’ employees, only ‘associates’ who are treated equally with dignity, respect, and fairness. Associates are not ‘resources’, but persons with ‘potential’ who are free to exhibit their capability and allowed to exploit their potential.
- We are an equal opportunity employer and committed to treat all employees and qualified applicants for employment openly, fairly and equitably with clear and fair terms of employment and remuneration.
- We shall attract and retain the best people and provide the appropriate training and development opportunities to help them reach their full potential.
- We shall provide, and strive to maintain, a clean, healthy and safe working environment that is free from harassment.
- We encourage associates to develop and evolve themselves as successful managers to lead the society from the front and we also encourage entrepreneurship among them by providing adequate opportunities and training.
- We shall treat the family of the associates as an integral part of the company and render all support whenever required.
- We shall protect their personal information at all times.
We strive to be a responsible corporate member of each and every community where we operate and support efforts of our employees to that end.
- We are committed to being an industry leader by conducting our activities responsibly to minimize any adverse impact of our operations on employees, the public at large and the environment.
- Through effective partnerships, we shall continue our initiatives on water and energy efficiency, education and environmental improvement within the community.
- We aim to create employment opportunities to the communities in which we operate and shall support and encourage our employees to help local community organizations and activities in our region
- We will not be part of a political party or take part in any political activity nor encourage any associate to do so. We will not support policies which are detrimental to the public at large.
- No employee shall directly or indirectly offer, promise to pay or authorize the payment of money or kind to Government officials, political parties or candidates or to an employee of a company with whom the company does business or is seeking to do business, for the purpose of influencing the acts or decisions of such persons or parties.
- Associates shall devote their full attention to the business interest of the company and should not engage in activities that are conflicting or interfere with their responsibilities towards the company or is advantageous to the company’s competitors.
- Associates under no circumstances shall accept any money, gift, privilege or any other service or thing of value from the company’s customers, vendors, consultants or any other transacting party.
- Associates must ensure that they do not conduct the company’s business with a relative or with an entity in which a relative is associated or with an organization where they are directly or indirectly interested or where they shall derive a benefit from the transaction.
- Opportunities that are discovered through company’s position and sources shall not be exploited or made use of, by the associates for their personal gain or advantage, unless such opportunity is fully disclosed to the Board of Directors of the company.
- We shall take our environmental responsibilities seriously and be aware of the impacts of our operations on the local communities.
Compliance with this policy will be continuously monitored and subject to review by the Company. Associates who notice a breach of this policy must report it to the Chairman immediately.