Analysis of Tech Mahindra’s CSR Expenditure from FY19 to FY23 Reveals Varied Trends and Investments
Tech Mahindra showcased its commitment to CSR with a total spending of 582.2 crore Rs over five years.
In the span of five years, Anand G. Mahindra led Tech Mahindra has demonstrated its commitment to corporate social responsibility (CSR) through a total CSR spending of 582.2 crore Rs. This significant investment showcases the company’s dedication to creating a positive impact on society. Tech Mahindra is a multi-dimensional digital transformation specialist with a focus on human-centric experience and ESG-focused digital solutions.
Tech Mahindra’s strategic approach to CSR initiatives allowed for targeted investments in projects aimed at empowering communities, fostering education, and driving sustainable development across India. Through its consistent CSR spending, Tech Mahindra exemplifies its role as a socially responsible corporate entity, actively contributing to the betterment of society.
Tech Mahindra‘s CSR commitment is evident in the fluctuating patterns of their CSR spending. As analysis reveals, the expenditure has witnessed both highs and lows between FY19 to FY23, suggesting evolving strategic directions and shifting priorities.
Despite these variations, the company’s dedication to social initiatives remains a consistent part of their organizational ethos, highlighting their aim to make a substantial positive impact on society and the environment.
CSR Expenditure Hits High Note
Between FY19 and FY20, the tech giant recorded an impressive surge in its CSR spending. The company increased its CSR expenditure by 47.10% during this period, displaying an active commitment to its social responsibilities. This significant rise in spending indicates the firm’s robust dedication to addressing pivotal societal and environmental challenges, thus contributing towards a broader societal transformation.
A Temporary Slump in CSR Spending
Despite the dramatic increase in the previous fiscal year, Tech Mahindra‘s CSR spending dipped by 16.78% in FY21 compared to FY20. This drop may indicate a strategic reassessment or a change in priorities within the company’s CSR initiatives. While such a decline may seem concerning, it’s vital to understand that such fluctuations are not unusual in businesses like Tech Mahindra that continually adapt to the changing social landscape and reevaluate their CSR goals.
CSR investment Trend for the last five years – FY 2019 to 2023
| Fiscal Year | CSR Spending (Cr Rs) | Percentage Change from Previous Year |
|---|---|---|
| FY19 | 93.1 | – |
| FY20 | 137 | 47.10% |
| FY21 | 113.7 | -16.78% |
| FY22 | 115.7 | 1.76% |
| FY23 | 123.7 | 6.91% |
| Total | 582.2 | – |
Steady Growth Marks in FY22 and FY23
After the temporary slump in FY21, Tech Mahindra’s CSR expenditure bounced back with a steady increase of 1.76% in FY22. This moderate growth signals a revitalized focus on social initiatives and reaffirms the company’s dedication to sustainable development. The analysis further reveals a consistent growth rate of 6.91% in FY23, demonstrating Tech Mahindra’s ongoing commitment to corporate social responsibility as it continues to invest in projects that foster societal betterment and positive change.
What Fluctuating Investments Tell Us About CSR Strategy
The oscillating nature of Tech Mahindra’s CSR spending over the past five years is indicative of its dynamic approach to corporate social responsibility. Rather than sticking to a rigid investment pattern, the company strategically directs its resources to address pressing societal and environmental challenges based on changing priorities. This strategy underscores Tech Mahindra’s unwavering commitment to creating a positive impact on society and the environment, underlining their focus on sustainable development and responsible business conduct.
Navigating the Road Ahead
In its journey of corporate social responsibility, Tech Mahindra appreciates the significance of aligning its CSR initiatives with the broader business strategy, always keeping a long-term perspective in mind. Through the adoption of sustainable CSR strategies, the company ensures resilience in its social and environmental commitments despite ever-evolving market conditions. Regular evaluations, adjustments, and realignments help Tech Mahindra consistently contribute to societal welfare, all while meeting broader organizational objectives.
Investing in Empowerment through Education
Tech Mahindra’s CSR spending goes above and beyond the government-prescribed mandate. The company allocates more than 2% of its average net profit on the implementation of CSR projects and activities across India, demonstrating its commitment to social welfare. The CSR vision of the company revolves around the theme of “Empowerment through Education,” reflecting Tech Mahindra’s focus on empowering individuals through educational initiatives.
Concluding Remarks
Despite witnessing fluctuations in its CSR spending over the past five fiscal years, Tech Mahindra’s commitment to corporate social responsibility remains steadfast. The company’s dynamic approach, reflected in its adaptable investment patterns, is evidence of its dedication to effectively meeting the challenges of an evolving social and environmental landscape. By integrating a sustainable and strategic focus on CSR into its broader business goals, Tech Mahindra continues to play an influential role in fostering societal development and environmental sustainability.
Must Read: India CSR Spending Report 2022-23 I India CSR
