NEW DELHI (India CSR): In an era where corporate responsibility extends beyond mere profits, CARE Ratings Limited (CareEdge) stands out, demonstrating a profound commitment to societal welfare. The company’s recently released Annual Report for the Financial Year 2024-25 unveils a substantial investment of Rs 2.75 crores in Corporate Social Responsibility (CSR) initiatives, marking a significant increase from the previous year’s Rs 2.28 crores. This commitment reflects CareEdge’s “Momentum with Purpose” theme, underscoring its dedication to fostering a more inclusive and sustainable society. By proactively addressing critical social needs, CareEdge reinforces its role as a responsible corporate citizen, striving to create meaningful impact in the lives of thousands.
CARE Ratings Limited – CSR Highlights FY 2025
| Particulars | Details |
|---|---|
| Company Name | CARE Ratings Limited (CareEdge) |
| Financial Year | 2025 |
| CSR Obligation | Rs 2.71 crores |
| Actual CSR Spending | Rs 2.75 crores |
| Excess CSR Spending | Rs 3.96 lakhs (with Rs 4.11 lakhs available for future set-off) |
| CSR Focus Areas | Healthcare, Education, Women Empowerment, Defense Support |
| Increase from Previous Year (FY24) | Up from Rs 2.28 crores to Rs 2.75 crores |
| Key Beneficiaries (Top Allocations) | Apex Kidney Foundation (Rs 42 lakhs), K.C. Mahindra Education Trust (Rs 26.04 lakhs), Navy Welfare Association (Rs 25 lakhs) |
| Healthcare Impact | 5,000+ patients supported (palliative care, transplants, motorized beds) |
| Education Impact | 65 students at study centres, 2,500+ reached via Book Bank, 434 girls via Nanhi Kali |
| Women’s Empowerment | 600+ women empowered through training and maternal health kits |
| Defense Personnel Support | 10 Veer Nari families, 85 street children, and paraplegic soldiers aided |
| CSR Committee | CSRS Committee formed under Section 135 of the Companies Act |
| Governance Measures | 100% fund utilization tracking, policy transparency on official website |
| CSR Theme | “Momentum with Purpose” aligned with SDGs and Viksit Bharat |
A Record Investment in Community Well-being
The financial year 2024-25 witnessed CareEdge channeling a total of Rs 2.75 crores towards its comprehensive CSR programs. This robust allocation signifies a clear escalation in its social investment, surpassing the Rs 2.28 crores spent in the preceding financial year, 2023-24. Such an increase highlights the company’s “Growing Responsibly” ethos, ensuring that its business growth is paralleled by an enhanced commitment to social development. The company has consistently met its CSR obligations, spending Rs 2.75 crores against a total CSR obligation of Rs 2.71 crores, which is calculated as two percent of its average net profit of Rs 135.51 crores. This dedication resulted in an excess expenditure of Rs 3.96 lakhs, demonstrating a proactive approach to social impact, with an amount of Rs 4.11 lakhs available for set-off in succeeding financial years.
Pillars of Purpose: Thematic Focus
CareEdge’s CSR strategy is meticulously designed to create long-term impact, inclusivity, and relevance, aligning with the United Nations Sustainable Development Goals (SDGs). The company’s policy outlines a primary theme centered on promoting financial education, recognizing its foundational role in empowering individuals and communities. Concurrently, CareEdge is deeply involved in local area community development, extending assistance and infrastructure to local bodies, government offices, schools, and public places, with a particular focus on women’s empowerment. This dual-pronged approach ensures a broad yet targeted impact across various segments of society. Furthermore, the company’s initiatives are strategically aligned with national goals such as “Viksit Bharat” and India’s ambitious journey towards Net Zero, contributing to sustainable development and economic advancement.
Empowering Health and Education
A significant portion of CareEdge’s CSR expenditure is dedicated to vital sectors like healthcare and education, transforming lives through essential support. In the healthcare domain, over 5,000 patients received critical services, including palliative care for cancer patients, kidney transplants, ventilator facilities, and motorized beds. This direct support provides a lifeline to those in dire need, reflecting the company’s human-centered approach to social welfare.
In education, CareEdge has made notable contributions. This includes providing funding for the construction of a school building at the Kochi Naval Base, specifically catering to children with special needs from Navy personnel families. Beyond infrastructure, the company supports academic enrichment through “Abhyasika – Study Centres” in and around Mumbai, benefiting 65 children from vulnerable backgrounds, and a “Book Bank for Kids” program, which has reached 2,500 children. Additionally, the “Nanhi Kali” project sponsors the education of 434 underprivileged girl children. Further initiatives include providing e-learning facilities to over 450 students in 8 tribal schools in Maharashtra and bringing “Science on Wheels” to more than 300 students in two district schools, ensuring access to quality learning experiences in underserved areas.
Fostering Women’s Empowerment and Defense Support
CareEdge’s CSR endeavors also prioritize women’s empowerment and support for defense personnel, recognizing these groups as crucial for societal progress. Over 600 women have been supported through various programs, including the provision of healthcare kits for expectant mothers and participation in financial sustainability projects like the Millet Value Chain, tailoring, and computer education in rural areas. The company’s commitment extends to empowering marginalized women and rural youth to become entrepreneurs through skill development initiatives, covering tailoring, carpentry, computer education, and even chili-powder making.
Support for defense personnel and their families is another key area, with 23 percent of the CSR budget allocated to this cause. This includes assistance to “Veer Naris” (war widows) of martyrs, contributing to a school for children of navy personnel with special needs, and supporting paraplegic defense forces. Specifically, rehabilitation efforts have benefited 10 families of Veer Naris and 85 street children. The company also provided a motorized wheelchair for a marginalized individual, showcasing its tailored support for specific needs.
Strategic Allocation and Transparent Governance
CareEdge ensures that its CSR efforts are not just impactful but also meticulously managed. The Board has established a Corporate Social Responsibility and Sustainability Committee (CSRS Committee) in accordance with Section 135 of the Companies Act, 2013. This committee is instrumental in formulating and recommending the CSR Policy and an Annual Action Plan, covering project execution, fund utilization, and monitoring mechanisms. The policy, publicly available on the company’s website, emphasizes strict governance around fund utilization by NGOs, ensuring 100 percent utilization and transparency. The company’s directors’ report confirms that CSR payments amounting to Rs 2.75 crores were released in FY 2024-25, aligning with its commitment to social impact, inclusivity, and relevance. The detailed breakdown of beneficiaries and the specific amounts allocated to various organizations further demonstrate this transparency and strategic allocation.
Key beneficiaries and their received amounts include:
- Agastya International Foundation: Rs 5 lakhs.
- Apex Kidney Foundation: Rs 42 lakhs.
- Impact Guru Foundation: Rs 61 thousand.
- Juvenile Diabetes Foundation: Rs 22.50 lakhs.
- K.C. Mahindra Education Trust: Rs 26.04 lakhs.
- Kamarajar Educational Trust: Rs 15 lakhs.
- Land for Tillers Freedom (LAFTI): Rs 15 lakhs.
- Little More: Rs 10 lakhs.
- Navneet Foundation: Rs 10 lakhs.
- NAVY WELFARE AND WELLNESS ASSOCIATION: Rs 25 lakhs.
- Paraplegic Rehab Centre: Rs 19.60 lakhs.
- Prashanti medical services and research foundation: Rs 20 lakhs.
- Seva Sahayog Foundation: Rs 15 lakhs.
- Sri Sathya Sai Health & Education Trust: Rs 10.50 lakhs.
- The Fine Arts Society: Rs 10 lakhs.
- VeerNari Shakti Resettlement Foundation: Rs 20 lakhs.
- Vibha India: Rs 8.75 lakhs.
Driving Sustainable Impact and Future Vision
CareEdge’s CSR initiatives are a testament to its philosophy of “Momentum with Purpose.” By investing significantly in healthcare, education, women’s empowerment, and defense personnel support, the company is not just fulfilling its regulatory obligations but is actively contributing to a more equitable and resilient society. The consistent growth in CSR spending and the meticulous planning behind each initiative underscore CareEdge’s long-term vision to be a trusted knowledge partner and a catalyst for sustainable development. As the company marches forward with a clear vision and strong sense of purpose, its conviction-driven journey continues to inspire confidence among its stakeholders, proving that responsible business practices are integral to sustained success and positive societal transformation. The company’s dedication to quality-led growth extends beyond its core ratings business to its social investments, reinforcing its position as a leader committed to driving progress through innovation and responsible action.
(India CSR)
