In recent years, several studies have emerged regarding the relationship between corporate social responsibility (CSR) initiatives and organisational performance (Margolis & Walsh 2003; McWilliams et al. 2006). Therefore, this study can examine the relations between social responsibility disclosure and organizational performance in Indian context with special reference to manufacturing sector. Due to increase in the ethical disasters relating to environment, community and human resources as well as growing need for firms to disclose regarding their CSR activities for their stakeholders, therefore Corporate Social Responsibility has become a vital issue within the business world. Moreover, CSR disclosure is an annex of the financial disclosure system, which reflects the broader anticipation of society regarding the role of the business community with in the economy (Waller &Lanis 2009). In this paper, CSR practices of companies from two industries namely the Automobile and Cement is analysed and compared. The study also tries to analyse the relationship between the CSR initiatives and organization’s performance using panel data regression analysis.