An analysis of CSR reports of Bombay Stock Exchange (BSE) listed companies numbering one hundred presents that 27% companies have spent more than prescribed CSR spend and 64% companies have spent less than the prescribed CSR.
These 100 companies represent large and medium companies and account for 33 sectors as per the BSE sector classifications. Public Sector Units and Public Sector Banks have been kept out of the purview of this analysis as the required information was not available.
· Only 1 Banking & Finance sector company could spend the prescribed CSR amount.
· VIP Industries emerges the top performer by spending almost double of the prescribed CSR spend.
· 2% of the companies spent zero amount from their prescribed CSR spend and 9% the companies spent exactly same as the prescribed CSR amount.
· 39% of the companies spent more than 50% of the prescribed CSR spent but missed the target of the prescribed CSR spend.
More details will be available by the end of this year. However, one should not forget that these are just figures. There is need for deeper analysis on not what was spent on CSR related activities, but, what really was the input, output and outcome.
- Noshir Dadrawala