Of the 301 companies included in the study, 37.87% spent more than their prescribed CSR budget, 32.89% spent the same as prescribed CSR amount, and 29.24% of companies spent less than the prescribed budget.
The study reveals that of the large 301 companies actually spent INR 12,260 Cr. over prescribed CSR budget of INR 12,119 Cr in FY 21-22. Out of 301 large companies, around 43.5% of the companies are headquartered in Maharashtra, followed by 9.97% in Karnataka and 9.3% in Delhi.
Reliance Industries Ltd., HDFC Bank, Tata Consultancy Services, ONGC and Tata Steel emerge as the top 5 spenders as per the actual CSR Spent reported in their annual reports. As per the report, these five companies account for more than 1/4th of total CSR spending.
The report also highlights that Poverty Alleviation, Healthcare, WASH, Education, Skills Development and Rural Development emerge as the priority thematic areas that jointly cover 70% of India’s total CSR fund.
The 301 companies selected in this report were shortlisted based on the criteria, such as the company with INR 1 Cr. or above prescribed CSR in FY 2021-22, listed on BSE and/or NSE or PSU, and disclosures as per Section 135 of the Companies Act.
Presenting the CSR Outlook Report at India’s largest CSR Forum, India CSR Summit 2022 Edition IX, the Founder and CEO of CSRBOX, Mr. Bhomik Shah, said:
“With over a million hits on the report pages/year, India CSR Outlook Report has become a much sought-after report by the CSR fraternity, non-profits, philanthropists, state agencies and social impact professionals in India.”
“CSR investments have increased, companies have moved towards the 2% mark and some have gone further, critical areas, like education and healthcare along with livelihoods have been the key focus, and many corporates are now diversifying to other areas,” he added.
Bhomik is a CSR & sustainability professional with over fifteen years of experience in CSR and sustainability practice. He set up CSRBOX in 2015, to bring together companies, innovators and social impact organisations.
The other significant highlights of the report are as follows:
- Public Sector Undertakings accounted for 26.23 % of total CSR spent for the FY 21-22
- Oil Drilling Lubricants & Petrochemicals, Banking & Finance and Computer Software & IT Sector companies jointly share more than 50% of India’s total CSR fund.
- Maharashtra, Odisha and Delhi received nearly 1/4th of India's total CSR fund.
- SDG 3 (Good Health and Well-being), SDG 4 (Quality Education), and SDG 1 (No Poverty) emerged as the focused SDGs that together received 65% of India’s total CSR fund.
- Nearly 47.3% of the CSR projects have been executed by Implementing Agencies.
- Only 5% of the Actual CSR Spent was allocated for Aspirational Districts.
- MOIL Limited has spent 388.76% of the prescribed amount, followed by Vedanta Limited and Kudremukh Iron Ore Company Limited with 368.32% and 305.68% respectively.
- Only 2.4% of the Actual CSR Spent was allocated for North-Eastern States
CSRBOX is India’s leading CSR knowledge and impact intelligence-driven platform that supports and assists mission-driven organizations and philanthropists in achieving breakthrough impact.
Their young team of in-house social sector thematic experts, data analysts, and researchers understand the community needs that fall within several thematic areas; they identify target groups, do depth research and structured interviews on the field and paint a comprehensive picture that helps create and implement solutions.
Harnessing their years of experience and understanding of the Indian development sector and beyond, they have planned and accomplished several projects with major companies. Their major work involves impact assessments, due diligence of NGO partners, designing CSR policy and strategies, employee volunteering, SROI, and programme implementation.
Link of the complete report:
https://csrbox.org/media/CSRBOX-India-CSR-Outlook-Report-2022_Full-version.pdf
