{
 "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": "Old reporting format (studies 2011-12 to 2018-19)",
  "product": "DBIE report 1166",
  "companyType": "Foreign direct investment companies",
  "statement": "Financial ratios",
  "cut": null,
  "studies": [
   "2012-13",
   "2013-14",
   "2014-15",
   "2015-16",
   "2016-17",
   "2017-18",
   "2018-19"
  ],
  "coverage": "Foreign direct investment companies: financial ratios, from the RBI's annual studies (2012-13 to 2018-19 studies)",
  "unit": "pct",
  "studyOffset": 1,
  "note": "The figure for a year as re-measured in the study 1 year later, on that later study's sample. Kept apart from the year's own study (the bundle without -prior), never mixed.",
  "latestPeriod": "2017-04"
 },
 "dates": [
  "2011-04-01",
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01",
  "2017-04-01"
 ],
 "series": {
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    13.6,
    13.5,
    14.2,
    15.3,
    19.7,
    17.7,
    14
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    11,
    11.2,
    15.3,
    12.3,
    8.7,
    9.7,
    10.6
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    2.6,
    3.4,
    4.1,
    2.5,
    3.2,
    4.3,
    2.8
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    5.9,
    5.6,
    10,
    7.7,
    5.5,
    6.3,
    5.2
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    55.6,
    60.9,
    77.6,
    49.3,
    52.2,
    51.3,
    41.3
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to Total sources of funds",
   "unit": "pct",
   "data": [
    58.6,
    54.3,
    60.4,
    64.5,
    71,
    69.1,
    48.4
   ]
  },
  "cash_and_cash_equivalents_to_total_uses_of_funds": {
   "label": "Cash and Cash Equivalents to Total uses of funds",
   "unit": "pct",
   "data": [
    null,
    null,
    -1.22,
    33.93,
    12.3,
    1.5,
    10.1
   ]
  },
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to Total uses of funds",
   "unit": "pct",
   "data": [
    46.7,
    52.4,
    54,
    32.5,
    19.6,
    21.1,
    33.5
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    43.4,
    28.5,
    26.2,
    32.1,
    38.9,
    39.6,
    30.4
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    13.1,
    12.4,
    13.1,
    12.9,
    13.9,
    12.7,
    11.2
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    76,
    82.4,
    105.3,
    148.9,
    205.5,
    149.3,
    112.5
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    8.9,
    9.3,
    11.3,
    10.8,
    6.6,
    6.4,
    10.1
   ]
  },
  "sales_to_gross_fixed_assets": {
   "label": "Sales to gross fixed assets",
   "unit": "pct",
   "data": [
    152.6,
    146.5,
    151.9,
    143.2,
    173.2,
    143.6,
    231.4
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    8.7,
    9,
    9.2,
    13.6,
    17.2,
    15.9,
    12.2
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    39.2,
    40.3,
    43,
    40.4,
    30.3,
    34.6,
    30.9
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    38.2,
    40.5,
    52.4,
    36.2,
    34.8,
    35.8,
    28.3
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    59.4,
    57.1,
    48.4,
    59.5,
    74.5,
    60.8,
    78.4
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    42.8,
    40.4,
    40.1,
    47.6,
    49.7,
    42.8,
    47.7
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    10.6,
    10.6,
    18.3,
    14.6,
    9.1,
    8.8,
    10.9
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    24.1,
    24.2,
    14.8,
    22.2,
    21.7,
    17.3,
    28.8
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.2,
    1.2,
    1.1,
    1.4,
    1.4,
    1.3,
    1.4
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    14.4,
    12.3,
    9.5,
    7.5,
    12.5,
    6.5,
    4.2
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    56.8,
    54.6,
    53.1,
    55.2,
    46.7,
    43.3,
    57.7
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    3.9,
    4.4,
    2.8,
    5.5,
    4.9,
    4.9,
    4.5
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    34.1,
    31.2,
    32,
    28.7,
    29.4,
    35.9,
    34
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    34.1,
    34.5,
    42.5,
    41.7,
    51.3,
    41.4,
    59.3
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    44.4,
    43.9,
    40.6,
    45.8,
    46.3,
    46.8,
    45
   ]
  },
  "sales_to_total_net_assets": {
   "label": "Sales to total net assets",
   "unit": "pct",
   "data": [
    85.6,
    87,
    78.9,
    92.8,
    79.8,
    69.1,
    100.5
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to Total external sources",
   "unit": "pct",
   "data": [
    18.7,
    16.7,
    10.3,
    -2.2,
    25,
    -7.1,
    5.7
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    4.5,
    3.5,
    4.1,
    5.4,
    2.8,
    2.3,
    4
   ]
  },
  "profit_retained_to_profit_after_tax_42": {
   "label": "Profit retained to profit after tax **",
   "unit": "pct",
   "data": [
    null,
    null,
    87.5,
    71.2,
    null,
    null,
    null
   ]
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to Total uses of funds",
   "unit": "pct",
   "data": [
    53.5,
    58.9,
    63.8,
    42.8,
    29.8,
    30.9,
    39.8
   ]
  },
  "operating_profit_to_sales": {
   "label": "Operating profit to sales",
   "unit": "pct",
   "data": [
    null,
    null,
    18.4,
    14.7,
    10.3,
    10.3,
    11.4
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    67.4,
    62.8,
    null,
    null,
    76.8,
    78.6,
    69.9
   ],
   "gaps": [
    "2013-04-01",
    "2014-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    11.6,
    13.4,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    33.1,
    42.2,
    null,
    null,
    null,
    null,
    null
   ]
  }
 }
}