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Indian Companies to Spend 11 percent more CSR fund in FY 2019 20, top 10 Companies have prescribed CSR of INR 4700 Cr.

By NGOBOX & CSRBOX On 01 July 2019
Indian Companies to Spend 11 percent more CSR fund in FY 2019 20, top 10 Companies have prescribed CSR of INR 4700 Cr.

1st July 2019. Amid the media buzz for some changes in the CSR Rules after the recommendations of the High-Powered Committee on CSR (under the Ministry of Corporate Affairs, Govt. of India), It can be a soothing news for India’s social sector that Indian companies will have to spend almost 11% more CSR fund in the current financial year (19-20) than what they had in 2018-19.

A data-analysis report prepared by CSRBOX, India’s largest CSR data-intelligence and partnership platform, bring out the fact that the large 500 companies, listed on BSE or NSE, had the prescribed CSR fund of INR 12079 Cr. in the financial year 2018-19. This has increased by 10.97% in the current financial year with INR 13405 Cr. Going by this number, the entire CSR fund of all the companies falling under the ambit of the CSR law, will be more than INR 17500 Cr.

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The top 10 companies will have to spend INR 4770 Cr on CSR projects in the current fiscal. This amount was INR 4300 Cr. in the last financial year. It is worth mentioning that the top 10 companies account for almost 35% of India’s large 500 companies’ total CSR fund in the current financial year. The top 10 companies Reliance Industries, TCS, ONGC , IOCL, HDFC Bank, Infosys, ITC , Housing Development Finance Corporation, NTPC and Coal India.

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Looking at the industry-wise prescribed CSR fund, banking and finance sector leads the race with 19% of the total CSR fund companies from these companies and followed by the companies in mining, metal and mineral sector with 10% of the total CSR fund. FY 2018-19 was relatively not so good year for the banking and finance sector, despite that the sector will play a key role in shaping India’s CSR ecosystem.

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There are 30 companies that will have to spend above INR 100 Cr. each on CSR projects to comply with the CSR rules and 25 companies will have to spend between INR 50-100 Cr. There are 115 companies that have the prescribed CSR fund between INR 10-50 Cr.

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India mandated CSR spend for companies falling under certain criteria of average net profit, turnover and net worth, through the Companies Act 2013. It has been five year of CSR compliance and Indian companies spent over INR 50,000 Cr. in the initial five years of the CSR compliance.

  • Download the summary report ‘Estimated Prescribed CSR in FY 2019-20’ through CSR Resources section of CSRBOX.
  • For the full report with the list of companies and their prescribed CSR fund, please visit the online store on NGOBOX website.
  • For the customized (on-demand) research on CSR and philanthropic ecosystem in India write to Shilpi at csr@ngobox.org
Tag : CSR CSRspend CSRReport Top 500

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