KOLKATA (India CSR): IGC Industries Limited reported that it had no mandatory Corporate Social Responsibility (CSR) spending obligation for FY2025-26, according to its Annual Report for the year ended March 31, 2026. The company’s Board of Directors stated that the provisions of Section 135 of the Companies Act, 2013, along with the CSR Policy Rules, were not applicable to IGC Industries for the financial year under review. Accordingly, the annual report does not disclose a CSR expenditure, project-wise CSR spending, or an unspent CSR amount for FY2025-26.
The statutory auditor has provided further context in its report. It noted that while the company fulfilled the criteria specified under Section 135(1), there was no average net profit in the immediately preceding three financial years. Therefore, the auditor stated that the company was not required to spend any amount under Section 135(5) of the Companies Act.
This distinction is important. CSR applicability thresholds and the amount required to be spent are governed by separate provisions of the law. A company’s prescribed CSR obligation is calculated as 2% of the average net profits of the three preceding financial years. Where there is no such average net profit, the spending obligation may be nil, as recorded by the auditor in IGC Industries’ case.
The company reported no revenue from operations in FY2025-26, compared with Rs. 198.51 lakh in the previous year. Its total expenses rose to Rs. 292.97 lakh, from ₹204.68 lakh in FY2024-25. Consequently, IGC Industries recorded a net loss of Rs. 292.97 lakh, or about ₹2.93 crore, against a net loss of ₹6.17 lakh in the preceding year.
For ordinary readers, the disclosure means that IGC Industries has not reported a CSR spend for FY2025-26 because its statutory CSR spending requirement was recorded as nil—not because CSR funds were spent elsewhere or kept unreported. The annual report does not present any separate CSR project, implementing-agency partnership, or unspent CSR account for the year.
The company’s paid-up equity share capital stood at Rs. 34.72 crore as on March 31, 2026. However, the auditor’s observation makes clear that the absence of average net profits over the relevant three-year period resulted in no amount becoming payable towards mandatory CSR expenditure for the year. No specific CSR spending figure for FY2024-25 is disclosed in the FY2025-26 annual report.
The report only states that CSR provisions were not applicable in FY2025-26, while the auditor says there was no average net profit in the relevant preceding three-year period. It does not provide a verified FY2024-25 CSR expenditure, project list, or unspent CSR balance.
Key Facts
| Particular | FY2025-26 |
|---|---|
| Company | IGC Industries Limited |
| CSR spending obligation | Nil, as disclosed by statutory auditor |
| CSR expenditure disclosed | No CSR expenditure reported |
| Revenue from operations | Nil |
| Total expenses | ₹292.97 lakh |
| Net loss after tax | ₹292.97 lakh |
| Previous year net loss | ₹6.17 lakh |
| Paid-up equity share capital | ₹34.72 crore |
Source: IGC Industries Limited Annual Report 2025-26.
