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Business Ethics & Philanthropy CSR spend by NSE-listed companies up by 11% in 2017-18
CSR spend by NSE-listed companies up by 11% in 2017-18
The Corporate Social Responsibility spend by NSE-listed companies crossed INR 10,000 crore, witnessing an increase of 11% in 2017/18. This analysis, based on 1,080 companies, was released by nseinfobase.com, which is developed and powered by PRIME Database Group, The CSR Journal reports.
The average net profit of these 1,080 companies over last three years was Rs 5.35 lakh crore. As per CSR requirements, the amount required to be spent by them was Rs 10,686 crore. These companies, however, decided to spend a bit more at Rs 10,886 crore — Rs 200 crore more than the requirement. However, INR 1,717 crore eventually remained unspent. The final actual CSR expenditure by these companies, though, was INR 10,030 crore, primarily because some companies spent more than what was mandated or decided earlier by them, representing an increase of nearly 11%
With increased participation, the number of companies which spent on CSR went up to 1,016 (94% of the 1080 companies) in 2017/18 from 931 (92%) in 2016/17. The balance 64 companies, despite being mandated, did not spend anything.
The CSR expenditure by companies listed at NSE has grown at a compounded annual growth rate of 16% over the last 4 years.
In line with the previous year, education received the maximum spend followed by healthcare. Areas such as reducing inequalities, national heritage, armed forces, sports, technology incubators and slum development saw negligible spends.
The top 10 companies together spent 36.06 per cent of the total spend on CSR
The top 10 states accounted for 48 per cent of the total CSR spend
Around 27% of the companies spent only directly on CSR-related activities, 25% only used an external Implementing Agency while 38% used a combination of the two. The balance 10% did not specify the route chosen by them.
Source: NSE Infobase
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