Responsible Business Rankings

India’s Top Companies for
Sustainability and CSR 2021

ESG Performance

Companies undertake many types of responsible business activities. It is difficult to easily comprehend the breadth and scope of their work. Our study uses a measure called the Spread, which is indicative of how broad-based the responsible business activities of a company are and is a combined score of the environmental, societal and governance parameters.


  • Godrej Consumer Products Ltd. is the top ranked company
  • Unlike previous years, no group of companies dominates the top 10 rankings.
  • Diversified companies like ITC and Grasim are in the top 10 rankings.
  • No Public company figures in the top ten.

1Godrej Consumer Products Ltd.
2Infosys Ltd.
3Wipro Ltd.
4Tata Chemicals Ltd.
5ITC Ltd.
6Jubilant Life Sciences Ltd.
7Grasim Industries Ltd.
8Vedanta Ltd.
9Tata Power Company Ltd.
10JSW Steel Ltd.

Business responsibility reporting

Responsible business reporting is slowly improving among the leading Indian companies, although the percentage remains low. Companies continue to adopt multiple reporting frameworks to report their responsible business performance. 27% of the companies studied had published an Integrated Report in 2019-20. Many of these had also published a GRI-based Sustainability report in the year.

Business Responsibility Report (BRR) is the mandated form of the responsible business reporting. Indian companies follow the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business that were published in 2011 (NVGs) to prepare BRR. In March 2019, the NVGs were updated and released as the National Guidelines for Responsible Business Conduct (NGRBCs). In our study, we find that while almost all continue to prepare BRR as per NVGs, three companies – JSW Steel, TVS Motors and Sundaram Clayton – prepared their BRR as per NGRBCs.

Performance improvement is skewed towards Environment parameter

Companies perform well in Environment parameter, which is in-line with various national and global goals related to environment. This parameter primarily consists of initiatives which are internal to a company’s working hence we find that companies have been quick in implementing various measures.

Social and Governance parameters however have huge scope for improvement. We find that companies are mainly focused on complying with the domestic law instead of proactively analysing what is relevant for their business and redefining their benchmarks in the global economy.

Average Scores (a)22.214.315.151.6
Median Scores (b)
Highest Score (c )
Lowest Score (d)
Average Score/Highest Score (a/c)63.0%62.0%50.0%65.0%
Percentage companies that score more than 50% scores76%35%35%52%

Manufacturing and services

RankManufacturing companiesService companies
1Godrej Consumer Products Ltd.Infosys Ltd.
2Tata Chemicals Ltd.Wipro Ltd.
3ITC Ltd.Tech Mahindra Ltd.
4Jubilant Life Sciences Ltd.Adani Ports & Special Economic Zone Ltd.
5Grasim Industries Ltd.Tata Consultancy Services Ltd.

Manufacturing companies, on an average, score far better than service companies - both overall and across criteria.

Average scoresEnvironmentSocialGovernanceTotal

Public and private

RankPublic companiesPrivate companies
1NTPC Ltd.Godrej Consumer Products Ltd.
2Bharat Petroleum Corporation Ltd.Infosys Ltd.
3Indian Oil Corporation Ltd.Wipro Ltd.
4Steel Authority of India (SAIL) Ltd.Tata Chemicals Ltd.
5GAIL (India) Ltd.ITC Ltd.

Private sector companies continue to perform better than public companies. While they perform better on environmental and governance issues, they lag slightly on the social front.

Average scoresEnvironmentSocialGovernanceTotal


Information Technology and Materials are the top performing industries, while Financials and Other Financials continue to be laggards.

IndustryAverage ScoreTop performing company
Information Technology68.0Infosys Ltd.
Materials59.8Tata Chemicals Ltd.
Diversified58.8ITC Ltd.
Utilities58.5Tata Power Company Ltd.
Consumer Staples55.3Godrej Consumer Products Ltd.
Consumer Discretionary54.6Mahindra & Mahindra Ltd.
Telecommunication Services54.0Tata Communications Ltd.
Capital Goods53.4Larsen & Toubro Ltd.
Healthcare53.3Jubilant Life Sciences Ltd.
Energy53.0Bharat Petroleum Corporation Ltd.
Other Industrials47.0Adani Ports & Special Economic Zone Ltd.
Financials40.3HDFC Bank Ltd.
Other Financials34.7Mahindra & Mahindra Financial Services Ltd.
All51.6Infosys Ltd.