Follow
FEATURES/Real Issue | Mar 18, 2013 | 26650 views

CSR Report Card: Where Companies Stand

It's about time corporate India learnt to handle its social responsibilities

W

hat can’t be measured, can’t be improved. That was the spirit behind our effort to gather data on how much listed firms are spending on CSR currently. It turned out to be one of the most difficult exercises we have undertaken. Despite reaching out to them individually, we realised that there are many, even among the top 100 firms by revenue, who don’t report their CSR spends or even declare the social causes they support. That’s because they aren’t required to do so by law. But all that will change when the new Companies Bill (which has already been passed by the Lok Sabha) becomes a law, possibly by the end of the year.

This data pack, compiled by CSRidentity.com, together with Forbes India, is still revealing enough, as it tells you how much each company will have to fork out on CSR, once they are bound by law.

Related stories

“India’s top companies are ranked 1-100 based on Net Sales for the Financial Year 2012”

mg_69263_csr_list_one_280x210.jpg

Next Article in Real Issue
Like this article? Subscribe to Forbes India
Just give us your mobile number and we will get in touch with you
Post Your Comment
Name
Required
Email Address
Required, will not be published
Comment
All comments are moderated
 
Comments (10)
P.k. Patnaik Dec 26, 2013
CSR responsibilty is just not spending 2% PAT. It must spell strategy of the company and utilisation of its fund towards the social causes it supports. In a way it should reflect what the company stand for in the social platform and its CSR spendings is directly or remotely aligned for sustainability of its business as well. These will make the program cohesive and truly reflect value in the long run.
PK Patnaik
President (09810088404)
Community Infrastructure Development Alternatives (CIDAL),
Not for Profit- for Community. ()
Ujjwal Kumar Mallik Aug 28, 2013
2% of net profit is very meagre, our country has given much, may deserve to get more the bus. tycoons; by sacrificing thy will show theirs love to theirs motherland.
Kamalnath Shenoy Jun 6, 2013
CSR Report Card: Where Companies Stand is a good compilation. Although, all other figures are clear, there is no clarity on - what period "Actual spend" refers to.
Khurram Naayaab May 4, 2013
Dear Team,
This is a good research; but please note that as per the New Companies Bill companies are not mandated to spend 2% of PAT rather they have to report on how much they have spend on CSR. This data they need to put in the public domain. We all get confused that companies are mandated to spend 2% of PAT.
Open for any further discussions on this.
Warm regards

Khurram
8800892410
____________________________________________________
Khurram Naayaab | Manager – CSR and Social Compliance | Cairn India Limited |
2nd Floor, Vipul Plaza , Sun City, Sector - 54, Gurgaon - 122002 | Haryana | India |
T 91 8800892410 | 91 124 4593018 Ext.: 3018 | Blackberry PIN 29924CA1|
E khurram.naayaab@cairnindia.com | www.cairnindia.com |
Forbes Reader Mar 26, 2013
Interesting study. It is sad to see that none of the companies are spending more than 2% of PAT in CSR. I always thought that Infosys foundation ( and not Infosys science foundation) that does the CSR, on behalf of Infosys. Any idea about Indian Railways ( the largest single corporation in india) ? How much do they spend on CSR ?
Pradeep Kumar Jain Mar 25, 2013
Surprisingly, i could not find any mention about the Water. I understand more than 60% of Indian population do not have access to the safe drinking water.
Sanchi Arora Mar 21, 2013
Hi
Greetings!
I wanted to know the source of the data in the 'Actual Spend' column. I want to use this data for a research project. Kindly revert back at the earliest!
Thanks a ton.
Response to Sanchi Arora:
Cuckoo Mar 28, 2013
Dear Sanchi, The actual spend data is sourced from mainly from the company annual reports wherever available and from emails to the management.
Gitima Mar 18, 2013
This article has published only the rankings. There is no mention of the parameters on which these companies have been evaluated or the methodology adopted to arrive on these rankings.
Response to Gitima:
Shravan Bhat Mar 18, 2013
Hi Gitima,

We thought the best way to approach the issue of CSR spends was to look at India's 100 biggest companies. The 100 we have listed here are the largest by 'Net Sales in 2012'. We felt that since Profit After Tax and therefore the CSR spend itself would be derived from this, it's a good parameter to rank companies by.


We have not evaluated the nature of CSR programs; we have chosen to give readers a sense of how much companies would be spending, if the 2% rule was followed.

We are working on making this clearer to readers - thanks for bringing up the point.
Most Popular
Insta-Subscribe to
Forbes India Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR
click here to Subscribe Online