{
 "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": 2,
  "note": "The figure for a year as re-measured in the study 2 years later, on that later study's sample. Kept apart from the year's own study (the bundle without -prior), never mixed.",
  "latestPeriod": "2016-04"
 },
 "dates": [
  "2010-04-01",
  "2011-04-01",
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01"
 ],
 "series": {
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    12.6,
    13.5,
    14.5,
    15,
    19.4,
    17.3,
    13
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    12.7,
    11.8,
    14.8,
    12.3,
    8,
    9.4,
    10.3
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    2.2,
    3,
    3.5,
    2.6,
    3.1,
    4.2,
    2.7
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    8.2,
    6,
    9.9,
    7.8,
    5.6,
    5.8,
    5
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    51.2,
    58.9,
    71.9,
    55.8,
    53.5,
    57.2,
    45.7
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    37.8,
    31.3,
    43.5,
    36.5,
    38.5,
    41.6,
    30.2
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    14,
    13.1,
    12.4,
    13,
    13.9,
    12.5,
    11.4
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    9.9,
    9.4,
    11.3,
    10.7,
    6.2,
    6.1,
    9.9
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    8.6,
    8.8,
    8.9,
    13.6,
    16.2,
    15.7,
    12
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    39.8,
    41,
    42.5,
    41.8,
    30.8,
    36.6,
    32.4
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    36.9,
    39.8,
    50.8,
    37.4,
    35.8,
    39.4,
    31.3
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    64.3,
    59.3,
    54.1,
    47.5,
    74.6,
    63.6,
    75.1
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    43.3,
    40.6,
    42,
    46.5,
    50.4,
    42.1,
    46
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    13.9,
    10.7,
    18.6,
    14.9,
    9.5,
    8.3,
    10.8
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    22.1,
    24.2,
    14.8,
    21.9,
    20.5,
    15.5,
    29.1
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.3,
    1.2,
    1.2,
    1.3,
    1.5,
    1.3,
    1.3
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    13.3,
    12.2,
    10.7,
    7.6,
    23.9,
    17.4,
    5.5
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    57.2,
    54.9,
    55.7,
    55,
    49.8,
    40.6,
    54.8
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    4.3,
    3.8,
    null,
    null,
    7.8,
    4.9,
    4.8
   ],
   "gaps": [
    "2012-04-01",
    "2013-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    33,
    30.7,
    31.6,
    27.7,
    28.4,
    34.2,
    32.4
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    46.1,
    44.6,
    40.6,
    45.2,
    45.5,
    45.7,
    44.5
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    6.3,
    4.1,
    4.7,
    5.2,
    2.6,
    2.3,
    3.9
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    68.8,
    67,
    null,
    null,
    65.3,
    83,
    68.5
   ],
   "gaps": [
    "2012-04-01",
    "2013-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "operating_profit_to_sales": {
   "label": "Operating profit to sales",
   "unit": "pct",
   "data": [
    null,
    null,
    17.6,
    14.6,
    9.6,
    10.2,
    11.3
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    13.7,
    13.9,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    36.2,
    36,
    null,
    null,
    null,
    null,
    null
   ]
  }
 }
}