CSR Spending by Listed Companies Rises 17.5% to ₹22,563 Crore

September 17, 2026: Corporate social responsibility (CSR) spending by listed companies increased by around 17.5% to ₹22,563 crore in fiscal 2025, from ₹19,208 crore in fiscal 2024, according to findings from the CSR Yearbook 2026.

The number of companies reporting CSR expenditure also rose 20% to 2,013 in fiscal 2025, from 1,678 a year earlier, marking the fastest growth in a decade. The analysis covered 2,323 listed companies that met at least one CSR applicability threshold based on their financial performance in the preceding fiscal.

CSR spending became mandatory from April 1, 2014, under Section 135 of the Companies Act, 2013. The findings show that compliance continued to strengthen, with 1,364 companies spending 2% or more of their average profits on CSR in fiscal 2025, compared with 1,124 companies in fiscal 2024.

Education and skill development remained the largest area of corporate social investment, receiving ₹9,182 crore, or nearly 41% of total CSR spending, with 1,519 companies participating. Healthcare and sanitation accounted for ₹5,386 crore, or almost 24%, involving 915 companies.

At the same time, spending diversified into areas including environment, rural development and sports. Environmental spending nearly quadrupled to ₹2,371 crore, while rural development received ₹1,632 crore. Sports expenditure nearly tripled to ₹753 crore, with the number of participating companies doubling year on year.

Says Amish Mehta, Managing Director and CEO, Crisil Ltd, “We are seeing meaningful progress in India Inc’s CSR journey, reflected in rising participation and a broader spread of social investments. The growing emphasis on areas such as environment and rural development signals a more purposeful and holistic approach to social impact. This exhibits an encouraging shift from viewing CSR as a regulatory requirement to embracing it as a vehicle for creating long-term societal value. As India moves towards Viksit Bharat, the collective commitment of corporate India can play an important role in advancing inclusive and sustainable development.”

The BFSI sector remained the largest contributor, with ₹5,066 crore in CSR expenditure, followed by manufacturing at ₹4,530 crore and energy at ₹3,067 crore. Together, these sectors accounted for 56% of total CSR spending.

Maharashtra led state-wise spending with ₹11,356 crore, followed by Delhi and Karnataka. The top 10 states accounted for about 95% of total CSR expenditure, although the data indicated a gradual widening of geographic distribution.

Aspirational districts continued to receive a relatively smaller share, with 373 companies reporting CSR expenditure in these districts, accounting for about 10% of total CSR spending.

Says Maya Vengurlekar, Chief Operating Officer, Crisil Foundation, “There is both continuity and change in India’s CSR landscape. Education and healthcare continue to account for nearly two-thirds of corporate social investments, while increased allocations towards environment and sports are broadening the thematic mix. The geographic spread of spending has widened, and more companies are partnering with implementing agencies. At the same time, the concentration of spending around the statutory 2% threshold and the limited share directed towards aspirational districts remain monitorable trends.”

The report also noted increased use of implementing agencies and a decline in non-disclosure of implementation approaches, indicating greater transparency in CSR reporting.