SAIL bags Wockhardt Shining Star CSR award

State-owned Steel Authority of India's (SAIL) spending on corporate social responsibility (CSR) activities goes "beyond" the minimum requirement of 2% of profits stipulated by the government for Navratna PSUs, Chairman C S Verma has said.

"SAIL's annual spend on CSR activities goes much beyond the stipulated 2% of distributable surplus," Verma said after he was presented with the Wockhardt Shining Star CSR Award in the Iron & Steel Sector category by Water Resources Minister Salman Khurshid in Mumbai yesterday.

SAIL contributes to society through its schools, hospitals, health centres, sports academies and other activities, Verma said.

SAIL manages and runs 17 hospitals, seven specialty hospitals and 54 primary health centres and also contributes to educational development through 146 schools in its townships and 286 schools in other areas.

The company also runs five sports academies for hockey, football, athletics and archery.

SAIL is India's largest steel producing company, with a turnover of over Rs 43,000 crore.