The company spent on CSR projects and administrative overheads, reported Nil current-year unspent CSR, and carried forward an excess amount of Rs. 8.14 lakh for possible set-off in succeeding years.
CHENNAI (India CSR) : TSF Investments Limited, formerly Sundaram Finance Holdings Limited, spent Rs. 178.52 lakh, or Rs. 1.79 crore, on Corporate Social Responsibility activities during FY 2025-26, against a statutory CSR obligation of Rs. 170.38 lakh, or Rs. 1.70 crore. The company therefore spent Rs. 8.14 lakh more than its required CSR amount for the financial year.
TSF Investments calculated its CSR obligation under Section 135(5) of the Companies Act, 2013, based on an average net profit of Rs. 8,518.90 lakh, or Rs. 85.19 crore. The mandatory CSR contribution at 2% of this average net profit was Rs. 170.38 lakh, and the company reported a total CSR spend of Rs. 178.52 lakh for FY 2025-26.
CSR Spending Snapshot
| Particular | Amount |
|---|---|
| Average net profit under Section 135(5) | Rs. 8,518.90 lakh |
| CSR obligation, 2% | Rs. 170.38 lakh |
| Amount spent on CSR projects | Rs. 170.00 lakh |
| Administrative overheads | Rs. 8.52 lakh |
| Impact assessment spending | Nil |
| Total CSR amount spent | Rs. 178.52 lakh |
| Excess CSR spend available for set-off | Rs. 8.14 lakh |
| Current year unspent CSR amount | Nil |
The company spent Rs. 170.00 lakh directly on CSR projects and Rs. 8.52 lakh on administrative overheads, taking the total CSR expenditure to Rs. 178.52 lakh. No amount was spent on impact assessment because the impact assessment requirement was reported as not applicable for FY 2025-26.
TSF Investments reported that its CSR activities covered education, health care, and heritage, in line with its CSR policy. The standalone financial statement note also lists the nature of CSR activities as Education, Health Care, Heritage and Culture, and Ecology / Environment, showing that the company’s CSR portfolio had multiple social and cultural themes during the year.
No Current-Year CSR Shortfall
The company reported Nil unspent CSR amount for FY 2025-26, meaning there was no current-year shortfall in CSR spending. Since TSF Investments spent Rs. 178.52 lakh against the required Rs. 170.38 lakh, it created an excess CSR amount of Rs. 8.14 lakh, which is available for set-off in succeeding financial years.
The company also disclosed that it had no reason to report failure in spending the mandatory 2% CSR amount, as the question on failure to spend was marked Not Applicable in the CSR report. This confirms that the company met its statutory CSR spending requirement for FY 2025-26.
CSR Governance
TSF Investments had a three-member CSR Committee during FY 2025-26, chaired by Sri Harsha Viji, a Non-Executive Director. The other members were Sri Srivats Ram, Non-Executive Director, and Ms. Priyamvada Ramkumar, Independent Director. The CSR Committee held 2 meetings, and all three members attended 2 out of 2 meetings.
The Corporate Governance Report also states that the CSR Committee is responsible for recommending the CSR expenditure to the Board and monitoring implementation of the CSR Policy from time to time. This shows that the company’s CSR spending was routed through a formal board-level governance mechanism.
Previous Year Unspent CSR Position
TSF Investments disclosed a preceding-year CSR balance from FY 2024-25, where Rs. 1.08 crore had been transferred to the Unspent CSR Account. Out of this, Rs. 36 lakh was spent during FY 2025-26, while Rs. 72 lakh remained to be spent in succeeding financial years.
This means the company had two CSR positions in FY 2025-26: first, it fully met the current-year CSR obligation by spending Rs. 178.52 lakh; second, it continued to carry a previous-year ongoing CSR balance of Rs. 72 lakh, which remains marked for future spending.
Business Context
TSF Investments is an investment-focused company that changed its name from Sundaram Finance Holdings Limited to TSF Investments Limited, with the Ministry of Corporate Affairs approving the name change on 23 September 2025. The company is part of the TSF Group, and its major investments are in companies belonging to the group.
For FY 2025-26, TSF Investments reported total revenue of Rs. 1,003.45 crore, profit before tax of Rs. 180.47 crore, consolidated profit after tax of Rs. 530.21 crore, and standalone profit after tax of Rs. 255.64 crore. Against this financial scale, the CSR spend of Rs. 1.79 crore reflects a compliance-linked but fully discharged CSR obligation.
The company received Rs. 207.67 crore as dividend income from portfolio companies during FY 2025-26 and held investments in 10 group companies as on 31 March 2026. This investment-led business model is important because the CSR obligation is calculated from the company’s eligible average net profit, not from manufacturing turnover or number of factories.
Key Analysis
The most important CSR fact is that TSF Investments spent Rs. 178.52 lakh, exceeding its statutory obligation of Rs. 170.38 lakh by Rs. 8.14 lakh. This gives the company a small excess amount available for set-off in future years, while also confirming that there was no current-year CSR shortfall.
The second important fact is that the company’s CSR spending was not limited to one theme. Its CSR disclosure mentions education, health care, heritage, culture, ecology and environment, making the CSR portfolio broader than a single-area intervention.
The third notable point is that Rs. 8.52 lakh was booked as administrative overheads. Since total CSR expenditure was Rs. 178.52 lakh, administrative overheads represented about 4.8% of the total CSR spend, while Rs. 170 lakh went towards CSR projects.
The fourth important point is the previous-year CSR balance. Even though the company had no current-year unspent CSR amount, it still reported Rs. 72 lakh remaining from the preceding financial year’s unspent CSR account, after spending Rs. 36 lakh during FY 2025-26 from the earlier balance.
