1. Spending has overall increased from last year. There has been a +13% increase in compliance towards CSR spending as compared to the previous year, looking at the top 250 companies’ data
2. ~1/3rd of the companies spent more than prescribed CSR, some of them taking over unspent money from last year and spending it this year.
3. Rural sports is gradually emerging as an area of interest for CSR. The top 3 priorities continue to remain the same: Healthcare/WASH, Education & Skills, and Environment.
By the NGOBOX report data, over 33% of the CSR spent by companies went to Healthcare and WASH (2142 crores), and 31% (2073 crores) went to Education & Skills, with the rest being divided by all other categories. Environment got 8% of the spending – 559 crores.
4. NTPC entered the top 5, PFCL and ICICI Bank entered the top 10 list of spenders
National Thermal Power Corporation (491.81 crores, 141% of prescribed CSR) ousted Infosys Ltd out of the top 5 list this time. NTPC CSR is focused around Integrated Community Development, Environment and Skill development largely, other than R&R.
PFCL (196.20 crores, 135% of prescribed CSR) was the other entrant into the top 10 list. PFCL works in most of the Schedule VII areas listed under Section 135 of the Indian Companies Act. ICICI Bank (172 crores, 81% of prescribed CSR budget) is the third new entrant into the top 10, working primarily on Skill development, Education and Healthcare.
5. Maharashtra, West Bengal and Andhra Pradesh together accounted for over a quarter of CSR spending
This is similar to last year’s trend where the top 5 States for spending were: Maharashtra, Gujarat, Karnataka, Tamil Nadu and Rajasthan. The Bottom 5 were: Nagaland, Mizoram, Tripura, Sikkim and Meghalaya, all 5 from the North-East.
Andhra Pradesh has been a new addition to the top 5 areas where CSR money has been spent.
What did you take away from the latest CSR data of FY16? Let us know by leaving a comment.