• S Shreedhar
• Dr. Ramesh O Olekar

CSR disclosure has become a key component of corporate reporting in India, particularly after the implementation of the Companies Act, 2013, and SEBI’s BRSR framework in 2021. This study examines whether CSR disclosure contributes to financial performance among 100 NSE-listed firms over the period 2020–21 to 2024–25. CSR disclosure was measured using a structured 28-item CSR Disclosure (CSRD) Index, developed in line with BRSR/GRI guidelines. Each item was scored on a binary scale (1 = disclosed, 0 = not disclosed) and grouped into four dimensions-Environmental, Community, Employee, and Consumer disclosures. The index was normalised to generate both dimension-wise scores and an Overall CSR Disclosure Index (OCSRD). Eight panel regression models were estimated to assess the impact of overall and dimension-specific disclosure on ROA, ROE, NPM and Tobin’s Q. The findings show that higher levels of overall CSR disclosure are associated with lower ROA and ROE, a marginal and statistically insignificant decline in NPM, and no meaningful relationship with Tobin’s Q. At the dimension level, Environmental disclosure improves NPM, whereas Community and Consumer disclosures have negative effects on profitability. Employee disclosure shows no measurable impact on any financial indicator. Overall, the results suggest that CSR disclosure imposes short-term costs and does not provide immediate financial or market benefits. However, the disclosure framework may still support longer-term, reputational, or strategic gains that extend beyond the study period.

CSR Disclosure, Financial Performance, Panel Data, NSE-Listed Firms, ROA, ROE, NPM, Tobin’s Q, India

"Impact of CSR Disclosure on Financial Performance Evidence from NSE-Listed Companies in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 12, page no.a602-a612, December-2025, Available :http://www.jetir.org/papers/JETIR2512081.pdf

"Impact of CSR Disclosure on Financial Performance Evidence from NSE-Listed Companies in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 12, page no. ppa602-a612, December-2025, Available at : http://www.jetir.org/papers/JETIR2512081.pdf