Asian Paints’ journey of increasing CSR expenditure over the past eight years is a testament to its long-term vision and commitment to sustainability.
NEW DELHI (India CSR): Asian Paints has showcased a steadfast commitment to corporate social responsibility (CSR) over the past eight years, continuously increasing its expenditure to drive positive societal impact and sustainable growth. From an initial outlay of Rs 47.84 crore in the financial year 2016-17, the company’s CSR spending has seen a notable rise, culminating in Rs 91.26 crore in 2023-24. Over this period, Asian Paints has invested a total of Rs 518.38 crore in various CSR initiatives.
Consistent Growth in CSR Expenditure
Over the years, Asian Paints has steadily enhanced its CSR investments. The company’s commitment is reflected in the consistent year-on-year growth of its CSR spending, underscoring its dedication to fostering sustainable development. This progressive increase highlights Asian Paints’ focus on long-term societal benefits.
Year-on-Year Highlights
In FY 2019-20, Asian Paints’ CSR expenditure surged by an impressive 41.66%, marking a significant milestone in its CSR journey. Despite a challenging period in FY 2020-21, where the expenditure dropped by 15.59%, the company demonstrated resilience and a strong recovery in subsequent years. The latest figures from FY 2023-24 show a robust 17.87% increase, bringing the CSR expenditure to Rs 91.26 crore from Rs 77.42 crore in FY 2022-23, which itself was a 9.03% growth from the previous year.
Commitment to Sustainable Development
Asian Paints’ total CSR expenditure over the eight years amounts to Rs 518.38 crore. This substantial investment reflects the company’s unwavering commitment to social and environmental initiatives. By continuously enhancing its CSR efforts, Asian Paints aims to benefit communities and contribute to sustainable development, showcasing its dedication to creating a positive and lasting societal impact.
CSR Expenditure Over Eight Years
Asian Paints has consistently increased its CSR expenditure over the years, reflecting a strong commitment to societal impact and sustainable growth.
| No. | FY | CSR Expenditure | Growth/Decline (%) |
|---|---|---|---|
| 1 | 2023-24 | Rs 91.26 Cr. | +17.87% |
| 2 | 2022-23 | Rs 77.42 Cr. | +9.03% |
| 3 | 2021-22 | Rs 71.01 Cr. | +12.72% |
| 4 | 2020-21 | Rs 63.00 Cr. | -15.59% |
| 5 | 2019-20 | Rs 74.64 Cr. | +41.66% |
| 6 | 2018-19 | Rs 52.70 Cr. | +13.30% |
| 7 | 2017-18 | Rs 46.51 Cr. | -2.79% |
| 8 | 2016-17 | Rs 47.84 Cr. |
Total CSR Expenditure Over Eight Years: Rs 518.38 Cr.
With significant investments aimed at fostering societal and environmental well-being, the company continues to set a benchmark in the industry for corporate social responsibility.
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