A 2024 report found that 33 companies classified as loss-making or having near-zero profits donated ₹576.2 crore through electoral bonds. The BJP encashed ₹434.2 crore—nearly 75% of that group’s donations. The report also put the companies’ combined net losses at more than ₹1 lakh crore. These are historical figures from the reported analysis, not current donation totals.
What the report found
The figures reported in 2024 concern a group of 33 companies described as loss-making or having near-zero profits. Together, they donated ₹576.2 crore through electoral bonds. Of that amount, the BJP encashed ₹434.2 crore, or nearly 75%. The report put the group’s aggregate net losses above ₹1 lakh crore. The Wire’s coverage of the finding and The Reporters’ Collective’s report discuss the analysis.
The amounts describe the reported group in that analysis; they should not be read as a current tally of donations or as a verified breakdown for every company. The available coverage does not set out a complete firm-by-firm table, the precise profit threshold used to classify every company, or the exact financial-period calculation for each one. Indian Public Administration Institute case material also reproduces the aggregate amounts.
What the figures do—and do not—show
The finding connects reported profitability with bond donations and the party that encashed most of the group’s donations. It does not, on its own, establish that any company committed a crime or that a donation was unlawful. Coverage has raised possibilities such as companies acting as fronts or misreporting profits and losses; those remain hypotheses, not adjudicated findings.
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Because the published aggregate does not resolve all inclusion criteria and financial periods, it is not sound to infer an individual company’s donation, losses, or conduct from the group totals. A claim about a particular firm needs company-level evidence and its own financial-period context.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How electoral bonds fit into the timeline
The Electoral Bond Scheme allowed political donations through bonds handled by the State Bank of India as the authorized bank. In its 15 February 2024 judgment in Association for Democratic Reforms & Anr. v. Union of India & Ors., the Supreme Court of India declared the scheme and related provisions unconstitutional. The Court held that non-disclosure of political-funding information violated citizens’ right to information under Article 19(1)(a). Read the Supreme Court’s judgment (2024 INSC 113).
A subsequent order in State Bank of India v. Association for Democratic Reforms & Ors. describes the bond purchase and redemption data disclosure period as 12 April 2019 through 15 February 2024. That is the bond-data window; it should not be treated as the financial-analysis period used to calculate the companies’ profits and losses. Read the Supreme Court’s 11 March 2024 order (2024 INSC 195).
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