CRITICAL EVALUATION OF CSR REPORTING PRACTICES OF SELECTED FMCG COMPANIES IN INDIA: A FIVE-YEAR LONGITUDINAL ANALYSIS (FY 2020–2025)

DOI: https://doie.org/10.65985/APER.2026497196

Authors:

Dr Belur Baxi, Dr Dhaval Kataria, Dr Mrunal Mehta, Dr Sonal Gogri, Dr Nirav Pandya, Dr. Anjali Sharma

Keywords:

CSR, FMCG, Sustainability Reporting, BRSR, GRI G4, Longitudinal Study, India, Governance, Impact Assessment.

Abstract:

Corporate Social Responsibility (CSR) has transformed profoundly in India over the past decade, evolving from a voluntary expression of corporate goodwill into a structured, legally mandated component of corporate governance. With the introduction of Section 135 of the Companies Act (2013), India became the first nation to formally require CSR spending, embedding social commitment into statutory corporate obligations. This transformation has been particularly visible in sectors with high public visibility and intimate consumer engagement—most notably the Fast-Moving Consumer Goods (FMCG) sector. This study presents one of the most comprehensive and longitudinal examinations of CSR reporting practices in the Indian FMCG industry, focusing on five major companies i.e. Godrej Consumer Products Limited (GCPL), Tata Consumer Products Limited (TCPL), Marico Limited, Dabur India Limited, and Britannia Industries Limited. Over a five-year analysis window (FY 2020–21 to FY 2024–25), the study evaluates how these companies construct, communicate, and justify their CSR strategies and outcomes, particularly during a period shaped by three major transitions: the maturing post-Companies Act CSR regime, the implementation of CSR Rules (2021), and the introduction of SEBI’s Business Responsibility and Sustainability Reporting (BRSR) framework. Using a structured evaluation matrix integrating five dimensions i.e. Governance & Oversight, Policy Clarity & Alignment, Implementation & Monitoring, Transparency & Disclosure Quality, and Impact Orientation & Stakeholder Engagement, the study develops a consolidated model for assessing CSR maturity in Indian firms. Supplementing this, a second evaluative lens rooted in GRI-G4 reporting principles i.e. SRPC, SRPQ, SRA, and integrated SRQ scoring which enables nuanced benchmarking of reporting content, reporting quality, and global sustainability alignment. Findings reveal substantial differences between companies, despite shared regulatory contexts. Godrej emerges as a consistent reporting leader, combining stakeholder-centred disclosure, high materiality maturity, and comprehensive sustainability contextualization. Tata Consumer Products demonstrates a sharp and sustained improvement trajectory, driven by governance strengthening and BRSR compliance. Marico maintains stable but moderate reporting sophistication, while Dabur and Britannia reflect compliance-oriented reporting cultures with limited depth in impact evaluation and contextual analysis. Sector-wide, the introduction of BRSR in 2022 marks a clear inflection point, significantly elevating comparability, clarity, and governance disclosure maturity. The study contributes to CSR literature by integrating longitudinal, multi-company analysis with a multi-framework evaluative approach contextualized to India’s unique regulatory landscape. It provides sector insights valuable to policymakers, corporate strategists, ESG professionals, and scholars of sustainability reporting.

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