Companies Act

Data on CSR expenditure by companies for FY 2014-15 Detailed analysis of CSR expendings by 7334 companies-MCA

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
INFOSYS LIMITED 239.5
ITC LIMITED 214.1
TATA CONSULTANCY SERVICES LIMITED 210.4
NTPC LIMITED 205.2
NMDC LIMITED 188.7

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.

 

Download Complete Analysis Click Here >>

Share

Recent Posts

  • RTI

Lokayukta Police not exempt from disclosure of information under RTI Act 2005 – SC

Lokayukta Police not an ‘intelligence and security’ organisation  and hence not exempt from disclosure of information under RTI Act 2005…

1 day ago
  • Income Tax

Payment of imprest whether a transfer within the meaning of section 269ST

Payment of imprest whether a transfer within the meaning of section 269ST – case remanded for determination In a recent…

3 days ago
  • ICAI

CA Misconduct – Order quashed as judgment not passed by same members who heard arguments.

CA Misconduct – Appellate order quashed as final judgment was not passed by same members who heard arguments. In a…

5 days ago
  • Insurance

Deceased homemaker can not be considered as dependant for award of compensation under MV Act – SC

Deceased homemaker can not be considered as dependant for award of compensation under MV Act. Courts to award a composite…

5 days ago
  • Income Tax

CIT notice u/s 263 quashed as AO rightly took DVO value of property as actual sale price

CIT Revision notice u/s 263 quashed as the Assessing Officer rightly taken DVO value of property sold as actual sale…

1 week ago
  • GST

Extension of timeline for implementation of Ship To GSTIN & Voluntary Closure of E-Way Bill functionalities

Extension of timeline for implementation of mandatory "Ship To GSTIN" and Voluntary Closure of E-Way Bill functionalities GSTN Advisory dated…

1 week ago