A company with an endeavour to improve performance while cutting costs. Thereby delivering high quality, precision engineered automotive parts at competitive prices. Highway Industries have garnered a major share of the global OEM parts market in the vehicle manufacturing segment.
MEET THE TEAM
Amol Munjal is involved in the Operations Management of Highway Industries . He was inducted into the Board of Directors in 2010 and under the expert guidance of Mr. Umesh Munjal, is taking the company to new heights. He oversees the manufacturing of the plants in Ludhiana.
The founder of Highway Industries, with a vision and a passion to forge ahead, Umesh Munjal steers the group like a true Industry Captain. He leads with a futuristic strategy to scale global heights. All the while, maintaining the competitive edge with investments in technological advancements, perfectly tuned for tomorrow. Aligning product strategy in sync with market dynamics has been his Mantra For Exponential Growth.
Ankur Munjal was incorporated into the Board of Directors of Highway Industries in 2010. Ever since his induction he has taken a very keen and active interest in the designing and developments of automotive parts. Ushering new technology, like a true technocrat. He heads the research, design, simulation and development division of the group with great drive and enthusiasm.
People in Team
What we do
Highway Industries is a leading supplier of forged components in the automotive industry. Spanning the global market Highway specializes in hot, cold and warm forging of precision engineered machine automotive parts for the domestic and overseas markets.
How we do it
With a work force of over 2000 people and advanced manufacturing facilities, Highway surges ahead in the specific industry segment. The in-house design team in synergy with mechanical and manufacturing engineers help to formulate the perfect proudct mix. Strategically identifying and addressing the market demand with a robust supply chain.
Where we are
We have three expansive well designed manufacturing plants that are located in the industrial Hub of Ludhiana. Each one of our plants is spread over a large sprawling area creating the perfect space and ambience for a positive work atmosphere. This leads to a healthy and progressive workforce, that finally results in greater productivity.
CORPORATE SOCIAL RESPONSIBILITY
|Name of Directors||Designation||Member/Chairman|
|1. Sh. Amol Munjal||Whole Time Director||Chairman|
|2. Sh. Ankur Munjal||Whole Time Director||Member|
|3. Sh. Surendar Kumar Sood||Independent Director||Member|
Corporate Social Responsibility (CSR) Policy
In terms of provisions of Section 135 of the Companies Act, 2013 read with the Companies (CSR POLICY) Rules, 2014, the Corporate Social Responsibility Committee (CSR Committee) has formulated a Corporate Social Responsibility Policy (CSR Policy) which indicates the activities which can be taken by the Company. This policy which recommended by CSR Committee, was approved by the Board in its meeting held on 2nd Sep, 2014.
The Board of Directors (the “Board”) of Highway Industries Limited (the “Company” “ HIL”) has adopted the following policy and procedures with regard to Corporate Social Responsibility. The Board may review and amend this policy from time to time subject to the recommendations of Corporate Social Responsibility Committee.
2. Policy Objective & Philosophy
It is pertinent that business enterprises are economic organs of society and draw on societal resources; we at the company believe that a company’s performance must be measured by its Triple Bottom Line contribution to building economic, social and environmental capital towards enhancing societal sustainability. HIL believes that in the strategic context of business, enterprises possess, beyond mere financial resources, the transformational capacity to create game-changing development models by unleashing their power of entrepreneurial vitality, innovation and creativity. In line with this belief, the Company will continue crafting unique models to generate livelihoods and create a better society. Such Corporate Social Responsibility (“CSR”) projects are far more replicable, scalable and sustainable, with a significant multiplier impact on sustainable livelihood creation and working for a cause of humanity.
“Board of Director” or “Board” means the Board of Directors of the Company, as constituted from time to time.
“Company” means a company incorporated under the Companies Act, 2013 or under any previous company law.
“CSR Programmes” means Programmes, projects and activities carried out in this regard are the subject matter of this Policy.
“Corporate Social Responsibility Committee or Committee” means CSR Committee constituted by the Board of Directors of the Company, from time to time.
“Independent Director” means a Director of the Company, not being a whole time director and who is neither a promoter nor belongs to the promoter group of the Company and who satisfies other criteria for independence under the Companies Act, 2013.
“Policy” means Corporate Social Responsibility Policy . Any other term not defined herein shall have the same meaning as defined in the Companies Act, 2013 or any other applicable regulation.
- To direct HIL’s CSR Programmes, inter alia, towards achieving one or more of the following – enhancing environmental and natural capital; supporting rural development; promoting education including skill development; providing preventive healthcare, providing sanitation and drinking water; creating livelihoods for people, especially those from disadvantaged sections of society, in rural and urban India and preserving and promoting sports.;
- To develop the required capability and self-reliance of beneficiaries at the grass roots, in the belief that these are prerequisites for social and economic development;
- To engage in affirmative action/interventions such as skill building and vocational training, to enhance employability and generate livelihoods for persons including from disadvantaged sections of society;
- To pursue CSR Programmes primarily in areas that falls within the economic vicinity of the Company’s operations to enable close supervision and ensure maximum development impact;
- To carry out CSR Programmes in relevant local areas to fulfil commitments arising from requests by government/regulatory authorities and to earmark amounts of monies and to spend such monies through such administrative bodies of the government and/or directly by way of developmental works in the local areas around which the Company operates;
- To carry out activities at the time of natural calamity or engage in Disaster Management system;
- To contribute to the Prime Minister’ National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and welfare of the Scheduled Caste, the Scheduled Tribes, other backward classes, minorities and women;
- To contribute or provide funds to technology incubators located within academic institutions which are approved by the Central Government;
- To contribute to any fund setup by the Central Government or State Government(s) including Chief Minister’s Relief Fund, which may be recognized as CSR activity;
- To promote sustainability in partnership with industry associations, like the Confederation of Indian Industry (CII), PHD, FICCI, etc. in order to have a multiplier impact.
To implement the Company’s CSR Programmes through Company personnel or through external implementing agencies (and other Registered Trusts / Society or a Section 8 company that are established or that may be established by the Company or its holding/subsidiary/associate Company from time to time). In such cases, the Company will specify the CSR Programmes which may be undertaken by those Trusts/Societies or Section 8 companies in accordance with their objects and administrative and accounting processes laid down in the respective Trust Deeds/ Memorandum and Articles of Association.
Every year, the CSR Committee will place for the Board’s approval, a CSR Plan delineating the CSR Programmes to be carried out during the financial year and the specified budgets thereof. The Board will consider and approve the CSR Plan with any modification that may be deemed necessary. The CSR Committee will assign the task of implementation of the CSR Plan within specified budgets and timeframes to such persons or bodies as it may deem fit.
The persons/bodies to which the implementation is assigned will carry out such CSR Programmes as determined by the CSR Committee within the specified budgets and timeframes and report back to the CSR Committee on the progress thereon at such frequency as the CSR Committee may direct.
The CSR Committee shall review the implementation of the CSR Programmes periodically and issue necessary directions from time to time to ensure orderly and efficient execution of the CSR Programmes in accordance with this Policy.
The CSR Committee will review periodically and keep the Board apprised of the status of the progress of implementation of the approved CSR Programmes.
Finally, at the end of every financial year, the CSR Committee will submit its report to the Board.
7. CSR Expenditure
CSR expenditure will include all expenditure as may be permitted under the applicable laws, including contribution to corpus for CSR Programmes approved by the Board on the recommendation of its CSR Committee, but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act
The Board’s Report of the Company to include an annual report on CSR containing particulars specified in the annexure to the rule pertaining to a financial year commencing from April 1, 2014.
The contents of the approved CSR Policy shall be disclosed in the Board’s Report and displayed on the Company’s website.
Projects approved by board
There are no any ongoing projects approved by the Board or committee of Directors.
Unspent CSR Funds
There is no any unspent money till F.Y. 2020-21 since all unspent money outstanding till 31.3.2021 has been TRANSFERRED to PM CARE FUND.