Who’s The Most Generous Of All In India Inc?
State-owned miner Coal India Ltd. emerged as the most generous Nifty 50 company in the year ended March.
It spent 18.8 percent of the average net profit it earned over three years on corporate social responsibility, the highest among its Nifty 50 peers. That's a significant increase over the 2 percent it spent in the financial year 2015-16, according to data compiled by BloombergQuint from annual reports.
According to the Companies Act, 2013, any firm with a minimum net worth of Rs 500 crore or a turnover of Rs 1,000 crore or a net profit of Rs 5 crore has to spend at least 2 percent of its average net profit – clocked in the last three years – on CSR.
Tata Steel Ltd. has been contributing close to 3 percent for the last two years – 3.4 percent in 2016-17 and 2.7 percent in 2015-16. Others like Wipro Ltd., Asian Paints Ltd. and Reliance Industries Ltd. contributed in the range of 2.1 to 3 percent.
The ranking at the top has changed over 2015-16, when Ambuja Cements Ltd., NTPC Ltd., Tata Steel Ltd., L&T and Maruti Suzuki India Ltd. led the list contributing between 2.4 and 4 percent.
The Bottom Five
Fifteen Nifty companies failed to meet their CSR targets in 2016-17. Lupin Ltd. and Kotak Mahindra Bank Ltd. were at the bottom of the list, contributing just 0.6 percent towards CSR. They failed to meet the requirement for the second straight year.
Telecom operator Bharti Airtel Ltd., its tower arm Bharti Infratel Ltd. and pharmaceutical major Aurobindo Pharma Ltd. also contributed less than 2 percent towards CSR in the year-ended March.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
