{
 "meta": {
  "dossier": "markets-companies",
  "source": "Reserve Bank of India, studies of company finances (DBIE, via the local Data Bank)",
  "vintage": "2026-10-10",
  "mock": false,
  "geo": "IND",
  "releaseDate": null,
  "revisionPolicy": "Each study is final for its own sample of companies; a later study re-measures the earlier year on a different sample, kept beside it, never chained.",
  "frequency": "annual",
  "base": "Ind AS format (studies 2020-21 on)",
  "product": "DBIE report 1180",
  "companyType": "Foreign direct investment companies",
  "statement": "Growth rates",
  "cut": "Public or private limited",
  "studies": [
   "2020-21",
   "2021-22",
   "2022-23",
   "2023-24",
   "2024-25"
  ],
  "coverage": "Foreign direct investment companies: growth rates, by public or private limited, from the RBI's annual studies (2020-21 to 2024-25 studies)",
  "unit": "pct",
  "studyOffset": 0,
  "note": "Each year's figure is from that year's own study: the companies in the study, this year against last year for growth rates. Consecutive years are different samples; read the level of a rate across years, never a rupee level. Ratios in per cent except those marked times.",
  "latestPeriod": "2024-04"
 },
 "dates": [
  "2020-04-01",
  "2021-04-01",
  "2022-04-01",
  "2023-04-01",
  "2024-04-01"
 ],
 "series": {
  "public__net_sales": {
   "label": "PUBLIC: Net sales",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    -0.3,
    29.6,
    17.8,
    8.3,
    6.8
   ]
  },
  "public__value_of_production": {
   "label": "PUBLIC: Value of production",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    null,
    30.6,
    16.8,
    8.3,
    7.2
   ]
  },
  "public__total_income": {
   "label": "PUBLIC: Total income",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    2.6,
    33.2,
    17.7,
    7.2,
    8.8
   ]
  },
  "public__manufacturing_expenses": {
   "label": "PUBLIC: Manufacturing expenses",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    -2.7,
    43.9,
    19.4,
    7.3,
    11.5
   ]
  },
  "public__remuneration_to_employees": {
   "label": "PUBLIC: Remuneration to employees",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    3.4,
    15.9,
    18.4,
    9.8,
    7.2
   ]
  },
  "public__operating_expenses": {
   "label": "PUBLIC: Operating expenses",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    -2,
    32,
    18.2,
    6.6,
    8.3
   ]
  },
  "public__operating_profit": {
   "label": "PUBLIC: Operating profit",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    10.6,
    23.9,
    9.8,
    18.7,
    4.5
   ]
  },
  "public__depreciation_provision": {
   "label": "PUBLIC: Depreciation provision",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    null,
    3.9,
    6,
    4,
    11.3
   ]
  },
  "public__gross_profit_ebit": {
   "label": "PUBLIC: Gross profit (EBIT)",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    15.9,
    27.4,
    19.5,
    18,
    8.3
   ]
  },
  "public__interest_expenses": {
   "label": "PUBLIC: Interest expenses",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    -0.9,
    8.9,
    9.9,
    19.2,
    7.9
   ]
  },
  "public__profit_before_tax_and_non_operating_surplus_deficit": {
   "label": "PUBLIC: Profit before tax and non-operating surplus/ deficit",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    25.8,
    38.2,
    24.1,
    17.6,
    8.4
   ]
  },
  "public__profit_before_tax": {
   "label": "PUBLIC: Profit before tax",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    172.3,
    112.6,
    19.8,
    9.6,
    12.4
   ]
  },
  "public__profit_after_tax": {
   "label": "PUBLIC: Profit after tax",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    null,
    null,
    28.9,
    0.9,
    21.1
   ]
  },
  "public__dividend_paid": {
   "label": "PUBLIC: Dividend paid",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    31.2,
    24.8,
    48.2,
    -1.3,
    34
   ]
  },
  "public__profit_retained": {
   "label": "PUBLIC: Profit retained",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    -67.5,
    null,
    -22.4,
    7.7,
    5.1
   ],
   "gaps": [
    "2021-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "public__gross_saving": {
   "label": "PUBLIC: Gross saving",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    120.6,
    108.6,
    -0.8,
    5.1,
    8
   ]
  },
  "public__gross_value_added": {
   "label": "PUBLIC: Gross value added",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    7,
    19.3,
    13.2,
    15.4,
    5.8
   ]
  },
  "public__net_value_added": {
   "label": "PUBLIC: Net value added",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    9,
    24.2,
    15.2,
    17.7,
    5.1
   ]
  },
  "public__net_worth": {
   "label": "PUBLIC: Net worth",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    4.7,
    10.2,
    9.1,
    8.3,
    11.6
   ]
  },
  "public__non_current_liabilities": {
   "label": "PUBLIC: Non-current liabilities",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    13.6,
    9.3,
    13.1,
    5.3,
    16.2
   ]
  },
  "public__total_borrowings": {
   "label": "PUBLIC: Total borrowings",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    13.8,
    18.3,
    10.1,
    6.7,
    8.7
   ]
  },
  "public__borrowings_from_banks": {
   "label": "PUBLIC: Borrowings from banks",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    4.5,
    8.9,
    5.5,
    8.5,
    4.8
   ]
  },
  "public__non_current_borrowings": {
   "label": "PUBLIC: Non-current borrowings",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    19.9,
    8.6,
    11.2,
    3.3,
    15.4
   ]
  },
  "public__current_liabilities": {
   "label": "PUBLIC: Current liabilities",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    2.9,
    2.9,
    9.7,
    7.5,
    4.6
   ]
  },
  "public__non_current_assets": {
   "label": "PUBLIC: Non-current assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    4.8,
    5.4,
    11.8,
    6.5,
    12.1
   ]
  },
  "public__gross_fixed_assets": {
   "label": "PUBLIC: Gross fixed assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    9,
    6.2,
    14.9,
    6.1,
    10
   ]
  },
  "public__net_fixed_assets": {
   "label": "PUBLIC: Net fixed assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    4.9,
    1.8,
    13.8,
    3.1,
    7.3
   ]
  },
  "public__current_assets": {
   "label": "PUBLIC: Current assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    9.8,
    12.6,
    7.9,
    8.4,
    8
   ]
  },
  "public__inventories": {
   "label": "PUBLIC: Inventories",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    14,
    27.1,
    4.9,
    5.6,
    9.1
   ]
  },
  "public__total_gross_assets": {
   "label": "PUBLIC: Total gross assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    8.5,
    9,
    11.8,
    7.9,
    11.2
   ]
  },
  "public__total_net_assets": {
   "label": "PUBLIC: Total net assets",
   "unit": "pct",
   "group": "PUBLIC",
   "data": [
    6.7,
    7.7,
    10.5,
    7.2,
    10.5
   ]
  },
  "public__number_of_companies": {
   "label": "PUBLIC: Number of companies",
   "unit": "count",
   "group": "PUBLIC",
   "data": [
    582,
    576,
    552,
    523,
    577
   ]
  },
  "private__net_sales": {
   "label": "PRIVATE: Net sales",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    0.7,
    29.8,
    23.7,
    10.2,
    10
   ]
  },
  "private__value_of_production": {
   "label": "PRIVATE: Value of production",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    0.6,
    31.2,
    23,
    9.8,
    10.3
   ]
  },
  "private__total_income": {
   "label": "PRIVATE: Total income",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    0.6,
    30.3,
    23.4,
    10.1,
    10.5
   ]
  },
  "private__manufacturing_expenses": {
   "label": "PRIVATE: Manufacturing expenses",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -3.4,
    38.9,
    21.8,
    4.8,
    7.6
   ]
  },
  "private__remuneration_to_employees": {
   "label": "PRIVATE: Remuneration to employees",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    9.5,
    19.4,
    23.5,
    13.5,
    16.2
   ]
  },
  "private__operating_expenses": {
   "label": "PRIVATE: Operating expenses",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -1.2,
    32.7,
    22.5,
    8.7,
    9.5
   ]
  },
  "private__operating_profit": {
   "label": "PRIVATE: Operating profit",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    16.2,
    17.5,
    28.8,
    22.2,
    16
   ]
  },
  "private__depreciation_provision": {
   "label": "PRIVATE: Depreciation provision",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    4.5,
    8.1,
    9.8,
    8,
    9
   ]
  },
  "private__gross_profit_ebit": {
   "label": "PRIVATE: Gross profit (EBIT)",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    10.9,
    24,
    36.6,
    27.4,
    18.6
   ]
  },
  "private__interest_expenses": {
   "label": "PRIVATE: Interest expenses",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -13.1,
    9.2,
    17.5,
    13.2,
    9.6
   ]
  },
  "private__profit_before_tax_and_non_operating_surplus_deficit": {
   "label": "PRIVATE: Profit before tax and non-operating surplus/ deficit",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    22,
    29.4,
    42.3,
    31.2,
    20.6
   ]
  },
  "private__profit_before_tax": {
   "label": "PRIVATE: Profit before tax",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    40.4,
    19.9,
    53.6,
    28.9,
    23.1
   ]
  },
  "private__profit_after_tax": {
   "label": "PRIVATE: Profit after tax",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    103.7,
    14.8,
    73.4,
    35.9,
    23.3
   ]
  },
  "private__dividend_paid": {
   "label": "PRIVATE: Dividend paid",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    null,
    -2.8,
    36.7,
    1.6,
    7.7
   ]
  },
  "private__profit_retained": {
   "label": "PRIVATE: Profit retained",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -158.6,
    null,
    null,
    121.9,
    38.6
   ],
   "gaps": [
    "2021-04-01",
    "2022-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "private__gross_saving": {
   "label": "PRIVATE: Gross saving",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -20.4,
    19.8,
    35.8,
    34.7,
    21.7
   ]
  },
  "private__gross_value_added": {
   "label": "PRIVATE: Gross value added",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    9.9,
    22.6,
    25.2,
    16,
    13.4
   ]
  },
  "private__net_value_added": {
   "label": "PRIVATE: Net value added",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    10.9,
    25.1,
    27.3,
    16.9,
    13.8
   ]
  },
  "private__net_worth": {
   "label": "PRIVATE: Net worth",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    4.6,
    13.2,
    10.8,
    11.7,
    12.9
   ]
  },
  "private__non_current_liabilities": {
   "label": "PRIVATE: Non-current liabilities",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    6.6,
    9.7,
    4.7,
    17.1,
    8.8
   ]
  },
  "private__total_borrowings": {
   "label": "PRIVATE: Total borrowings",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    0.4,
    16.4,
    5.7,
    10.7,
    10.4
   ]
  },
  "private__borrowings_from_banks": {
   "label": "PRIVATE: Borrowings from banks",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    -6.6,
    3.8,
    2.4,
    4.8,
    15.3
   ]
  },
  "private__non_current_borrowings": {
   "label": "PRIVATE: Non-current borrowings",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    8.3,
    5.3,
    0.8,
    11.7,
    6.7
   ]
  },
  "private__current_liabilities": {
   "label": "PRIVATE: Current liabilities",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    0.9,
    17,
    15,
    7.6,
    13.2
   ]
  },
  "private__non_current_assets": {
   "label": "PRIVATE: Non-current assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    2.9,
    9.6,
    8.2,
    11.2,
    10.1
   ]
  },
  "private__gross_fixed_assets": {
   "label": "PRIVATE: Gross fixed assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    8.8,
    12.3,
    12,
    11.2,
    12.5
   ]
  },
  "private__net_fixed_assets": {
   "label": "PRIVATE: Net fixed assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    1.7,
    7.5,
    8.6,
    8.4,
    11.4
   ]
  },
  "private__current_assets": {
   "label": "PRIVATE: Current assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    4.5,
    17.5,
    13.5,
    11.5,
    14
   ]
  },
  "private__inventories": {
   "label": "PRIVATE: Inventories",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    3.5,
    25.3,
    15.2,
    3,
    7
   ]
  },
  "private__total_gross_assets": {
   "label": "PRIVATE: Total gross assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    6.5,
    14.9,
    11.9,
    12.1,
    12.5
   ]
  },
  "private__total_net_assets": {
   "label": "PRIVATE: Total net assets",
   "unit": "pct",
   "group": "PRIVATE",
   "data": [
    3.9,
    13.8,
    10.9,
    11.4,
    12.2
   ]
  },
  "private__number_of_companies": {
   "label": "PRIVATE: Number of companies",
   "unit": "count",
   "group": "PRIVATE",
   "data": [
    1477,
    1630,
    1720,
    1895,
    2523
   ]
  },
  "companies": {
   "label": "Number of companies in the study",
   "unit": "count",
   "data": [
    2059,
    2206,
    2272,
    2418,
    3100
   ]
  },
  "public__companies": {
   "label": "PUBLIC: number of companies in the study",
   "unit": "count",
   "group": "PUBLIC",
   "data": [
    582,
    576,
    552,
    523,
    577
   ]
  },
  "private__companies": {
   "label": "PRIVATE: number of companies in the study",
   "unit": "count",
   "group": "PRIVATE",
   "data": [
    1477,
    1630,
    1720,
    1895,
    2523
   ]
  }
 }
}