Companies have been disclosing their CSR spend data with varied levels of detail, since the Companies Act of 2013 mandated companies to spend on CSR. We have been tracking this data for the past five years and we find the trend encouraging. Both the disclosure as well as the spend has improved over years.
The top three spenders in percent terms in 2016-17 were:
- Piramal Enterprises (7.2%)
- Jindal Stainless Hisar (6.3%)
- National Fertilizers (4.7%)
We find that more Indian companies are complying with the Government of India rule to spend 2% or more of average net profit of the previous three years in CSR.
|Average CSR spend (%)||1.4%||1.7%||1.8%|
|% companies that spent 2% or more||32%||48%||57%|
|CSR Spend/Committed Amount||69%||78%||84%|
Manufacturing companies spent more than services in general
|Average CSR spend (%)||2.0%||1.5%|
|% companies that spent 2% or more||69%||41%|
|Average spend per company (Rs crores)||49.9||39.9|
|CSR spend/Committed amount||92%||73%|
|Top three spenders||Jindal Stainless Hisar (6.3%)
National Fertilizers (4.7%)
Ambuja Cements (4.0%)
|Piramal Enterprise (7.2%)
Canara Bank (4.2%)
Diversified sector spent the most, followed by Materials and Consumer staples.
Financials and Telecom spent the least.