Data on CSR expenditure by companies for FY 2014-15. Detailed analysis of CSR expendings by 7334 number of companies released by MCA
Ministry of Corporate Affairs has released data of expenditure on Corporate Social Responsibilities by 7334 nos of companies for FY 2014-15
As per section 135 of the Companies Act, 2013, every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year are required to spend at least two percent of the average net profits, every financial year on activities as per its Corporate Social Responsibility Policy.
The total CSR expenditure incurred by 7334 no of companies was Rs. 8803 crores, the Reliance Industries Limited (RIL) was the top on the list with 8.64% of the total CSR expenditure of rs. 8803 crores, followed by ONGC and Infosys.
The top seven companies were as under:
|Name||CSR Spent (In Crores)|
|RELIANCE INDUSTRIES LIMITED||760.6|
|OIL AND NATURAL GAS CORPORATION LIMITED||495.2|
|TATA CONSULTANCY SERVICES LIMITED||210.4|
As per MCA, the highlights of CSR Spendings are as under:
- Out of 10475 eligible companies, 7334 have reported as of 31st January 2016. Out of these reporting companies only 3139 have done some expenditure on CSR.
- Out of total prescribed expenditure of 11883 crores by these 3139 companies, 8803 crores have actually been spent. (74%)
- CSR spent by the top 10 companies is 32% of the total CSR spend in FY 2014-15. (2783 crores)
- Rest of the 3129 companies have spent ₹ 6020 crores
- 39 companies have spent on CSR despite incurring losses in previous years.
- Actual CSR spent was 74% whereas unspent budget was 26%
- Top 10 companies together spent NR 2783 crores
- CSR Mode of implementation was-53% directly, 39% by societies/trusts, 4% each by own foundations and partnerships with other organisations
- Top five States – Maharashtra, Tamil Nadu, Karnataka, Gujarat and Chhattisgarh
- Bottom five States-Lakshadweep, Sikkim, Tripura, Mizoram and Nagaland
- PSUs participated more than Non-PSUs. Out of total 226 PSUs, 142 had positive CSR spendings whereas out of total 7108 non-PSUs, 4111 had no CSR spendings.
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