Untitled Document

In order to promote Corporate citizenship and social responsibility to meet the challenges of globalisatiion. UN Security General Mr Kofi Annan first proposed the Global Compact at Davos in January 1999. On 26.7.2000 it was launched at UN Headquarters in New York. The present UN Secretary General endorsed and reiterated United Nation’s continued commitment to this programme. Global Compact had been successfully engaging the business leaders in this direction through annual disclosure to their stakeholders on implementation actions related to the 10 principles in the areas of human rights, labour standards, environmental stewardship and anti-corruption.

MIDHANI had, ever since its inception in 1973, focussed attention on human values and ethics in all its corporate activities. These find application in choosing the state-of-the-art equipment available at that time, design of the plant facilities on most modern lines ahead of contemporary designs of those times. Therefore, when the United Nations initiatives through Global Compact Office were known, MIDHANI C&MD had straightaway become a signatory to these universally accepted principles on 16th November 2001. Ever since then MIDHANI endeavored to adopt strategies to turn around the Company. Actions such as modernization/ upgradation of plant facilities, active and dynamic dialogue with various stakeholders, Vendor’s meets and Customer Meets are all aimed at discharging MIDHANI’s social responsibility.

In the corporate journey of MIDHANI, the year 2003-04 had been a landmark year where the turn-around strategies adopted by the Company begun yielding results. MIDHANI had wiped out all its past losses and stepped on to the growth spiral from this year onwards. The maiden dividend had been paid to Government of India for the financial year ended 31st March, 2004. MIDHANI had been paying dividend to its Owners since then. Elsewhere in the website of MIDHANI one could seek details of its performance in the Director’s Report, Annual Report. MIDHANI recognizes the need to generate resources adequate enough to meet the legitimate needs of its stakeholders and to discharge its corporate social responsibility.

1. Brahm Prakash DAV School started by MIDHANI in 1985 was intended to admit children belonging to our employees. But realizing the need to benefit members of the society around, it had begun admitting children from nearby villages from the year 2001-02.

2. As part of its practice of human values, MIDHANI had been contracting the job of caning office chairs regularly through individuals differently abled such as deaf, dumb, blind and the same shall continue.

As part of passing on the benefits of technology to the society, the R&D efforts of using titanium for different applications which began sometime during 1999-2000 have yielded some results in the form of prosthesis for knee, shoulder, hip and elbow during 2001. These joints are custom made depending upon the anatomy, nature of tumour, extent of surgery involved to save limbs etc. They are supplied as CSR to Medical fraternity for use on patients. With such action from MIDHANI, now amputation of limbs is avoided. They are not supplied commercially. MIDHANI had been talking to the Doctors and presenting the range of these products at various Medical seminars. From 2001 onwards every year 12 – 15 pieces of different joints are supplied to Doctors in the country. Medical fraternity had begun realizing the contribution of MIDHANI in this area and placing demands on MIDHANI. Each prosthesis of stainless steel quality, imported or indigenous would cost Rs.1.5 to 2 lakhs. MIDHANI supplies much superior quality made from Titanium material at a cost price of Rs.40,000/-. Advantages of Titanium implants are many.

There was a water body in MIDHANI land. The water collected during rainy season through the huge catchments area had been overflowing and drained through storm water drains. Common and community good is at the heart of MIDHANI. Therefore, though it cannot at the moment spend from its resources, had prevailed upon the local government authorities to deepen and deepen the water body considerably. MIDHANI had thought of this action for the simple reason that once the lake is deepened and a huge water body gets collected, stays beyond two summers, the underground water tables get charged. All around this area many residential colonies exist and it did benefit the community around. Now the lake is called Dr Tamhankar Lake.

5. MIDHANI Bus depot

When AP State Road Transport Corporation found it difficult to service the huge population in the vicinity of Kanchanbagh in the absence of locating a bus depot, MIDHANI came forward to handover land to the tune of about 2 acres. Now public transport buses are stationed there such that a workshop for their regular maintenance is planned. Now the depot is called MIDHANI Depot. CSR needs to be viewed as any action conferring benefit to a sizable community or humanity. It need not always be in terms of "money spent".

MIDHANI had leased land to the tune of 30 acres for running Apollo DRDO Hospital, a corporate hospital of repute. Even other members of community can get admitted into the hospital and be treated.