International Journal of Research in Finance and Management
2022, Vol. 5, Issue 2
Corporate social responsibility practices by Maharatna companies
Dr. Irfan Ahmad and Rashid Siddique
Corporate Social Responsibility (CSR) is an area of interest and a significant corporate endeavour. It is the dedication of a business to run in a way that is economically, socially and environmentally sustainable while taking into account the interests of its stakeholders. By assuming responsibility for the effects of their actions on their customers, employees, shareholders, communities, environment, and all other areas of their operations, corporations serve the interests of society through CSR. The focus of CSR in the public sector is on inclusive growth, sustainable development, and capacity building while giving adequate consideration to the socioeconomic requirements of the society's underserved and underprivileged groups. Analysis of the Corporate Social Responsibility (CSR) initiatives undertaken by Maharatna Public Sector Enterprises in India is the study's main goal. The study's secondary data comes from Maharatna firms' annual reports from 2015–16 to 2019–20. Profit after tax, funds allocated for CSR activities, funds used for CSR activities were factors taken into consideration for the study in order to assess the performance of CSR activities and their effects on the profitability of public sector Maharatna companies in India. The findings show that Maharatna enterprises are making an effort in the CSR sectors, although greater attention on CSR is still needed. Companies in the public sector have contributed most to CSR initiatives throughout the country.