Corporate gender data disclosures up by 51% over 5 years: Study

The fifth edition of the Close the Gender Gap (CGG) dashboard, released by The Udaiti Foundation, reveals that corporate gender-data disclosures have risen sharply over five years, from 915 companies in FY20-21 to 1,386 companies.

The CGG Dashboard for FY 2024–25 draws on data from NSE-listed companies using disclosures from Business Responsibility and Sustainability Reports (BRSR) and annual reports. It assesses gender representation, pay gaps, leadership diversity, attrition, and return-to-work trends across sectors. The analysis spans multiple indicators, including market index, company size, and sectoral characteristics, to provide a comprehensive view of workplace equity. This year’s dataset covers 1,386 NSE-listed companies, representing a combined workforce of 13.4 million people, of whom 2.4 million are women.

Some of the key highlights from the CGG Dashboard for FY2024-25 include.

• Women’s workforce representation is at 18% for the second consecutive year, representing a stagnation in the rate of growth. In the last year, when the total workforce grew by 6%, women’s employment grew by just 7%.

• 52% of NSE-listed companies still employ less than 10% women, despite the increase in disclosures. 2% (around 33 companies) have a women’s workforce share exceeding 50%. This reveals a polarised landscape, where some companies are pushing boundaries, and many are lagging behind. 

• In hospitals and labs, women’s representation has increased from 45% to 48%, and Consumer Services rose from 30% to 34%.  Traditionally strong sectors like IT (34%) and Banking (26%) reported no improvement from the previous year. In some sectors, outliers showed that sustained commitment can serve as a model for the entire industry. For example, Stove Kraft has 56% women vs. a Consumer Durables average of 15–17% or Apex Frozen Foods employs 76% women vs. an FMCG sector average of ~21%

• Under SEBI reporting norms, the gender pay gap measured using the median remuneration of employees across the organisation (excluding Key Management Positions (KMP) and the Board) has narrowed from 6.7% in FY23–24 to 3.3% in FY24–25. Sectors such as textiles (30.4%), diversified (28.5%), and metals & mining (17%) continue to report some of the widest gaps despite comparatively higher female representation.

• Interestingly, certain male-dominated sectors have shown a reverse pay gap, with women earning more. This includes Pharma (+8%) and Consumer Durables (7%). 

• Women on boards increased from 18% to 22%, largely due to regulatory mandates, led by sectors like Hospitals & Labs (26%, +3 pts) and Telecom (24%, +4 pts). 

• A 16% rise in sexual harassment complaints signals greater awareness and growing confidence among women to report workplace misconduct. However, the 28% increase in pending cases shows that redressal systems are struggling to keep up, highlighting the urgent need to strengthen and speed up grievance processes.

Pooja Sharma Goyal, Founding CEO of Udaiti, said, “Over the last five years, we have seen steady progress in women’s workforce inclusion, yet this year’s data shows that the pace of change still does not match the growth of India’s overall workforce. What we see today is only a partial picture, because just about half of the 2,615 NSE-listed companies report gender-disaggregated data. Greater transparency will reveal where women are entering, where they are being held back, and the structural reasons behind it. “

“The recent labour codes represent a bold step in addressing systemic constraints around safety, equal opportunity and workplace design. These changes, combined with gender-smart company policies and sustained action from employers and the government, can significantly accelerate women’s economic participation and move India closer to its goal of becoming Viksit Bharat by 2047,” she added.