CSR Spending for FY15-16: 5 things we took away from the numbers

CSR Spending for FY15-16: 5 things we took away from the numbers

October 5, 2016
NGOBOX last week released its new annual CSR spending report for CSR FY15-16 – a detailed analysis of data from 250 companies that account for over 1/3rd of the actual CSR spend. The criteria for the analysis was that companies had atleast a budget of a crore and reported before Aug 31 2016 (the cutoff date for reporting on CSR). This is the second such annual report shared by NGOBOX.
This being the 3rd year of the CSR Law in India, here are 5 takeaways we got from the data:

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

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2016: Data from NGOBOX report of 250 companies by Aug 2016.

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2015: Data from reporting of 431 companies by Dec 2015 of FY14-15 spend. Courtesy: IICA

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.

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NGOBOX CSR spending data from FY15-16

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.

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Data from NGOBOX report of spending in FY15-16.

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.

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The NGOBOX report can be accessed here.

What did you take away from the latest CSR data of FY16? Let us know by leaving a comment.

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