{
 "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": 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": "2018-04"
 },
 "dates": [
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01",
  "2017-04-01",
  "2018-04-01"
 ],
 "series": {
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    13.8,
    13.3,
    13.7,
    15.5,
    18.4,
    16.8,
    14
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    10,
    11.2,
    15.5,
    12.3,
    8.9,
    9.3,
    9.6
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    5.3,
    5.5,
    10.6,
    7.3,
    5.8,
    6.4,
    5
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    2.9,
    3.7,
    3.8,
    2.6,
    3.1,
    4,
    2.6
   ]
  },
  "cash_and_cash_equivalents_to_total_uses_of_funds": {
   "label": "Cash and Cash Equivalents to Total uses of funds",
   "unit": "pct",
   "data": [
    null,
    null,
    13.01,
    38.13,
    0.4,
    9.1,
    4.5
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to Total sources of funds",
   "unit": "pct",
   "data": [
    53.4,
    66.8,
    62.4,
    53.8,
    65.1,
    32,
    43.7
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    59.3,
    60.9,
    70.3,
    48.8,
    43.8,
    54,
    37.9
   ]
  },
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to Total uses of funds",
   "unit": "pct",
   "data": [
    49,
    49.7,
    37.8,
    61.5,
    19.6,
    41,
    40.7
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    8.3,
    9,
    11.5,
    10.5,
    6.8,
    6.6,
    9.6
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    76.7,
    69.5,
    176,
    114.2,
    157.9,
    150.8,
    100.6
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    12.7,
    12.4,
    13.2,
    12.4,
    13.6,
    12,
    11
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    42,
    24.6,
    22,
    34.1,
    34.3,
    43.3,
    28.6
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    8.9,
    9.2,
    9.4,
    14.6,
    17.4,
    15.5,
    12
   ]
  },
  "sales_to_gross_fixed_assets": {
   "label": "Sales to gross fixed assets",
   "unit": "pct",
   "data": [
    153.8,
    143,
    150.8,
    140.7,
    186.4,
    154.5,
    236.9
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    24.2,
    25.7,
    15.9,
    23,
    21.8,
    18.5,
    28.5
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    10,
    10.1,
    19.1,
    13.6,
    9.2,
    10.1,
    10.8
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    41.7,
    38.5,
    41.7,
    46,
    49.3,
    43.6,
    48
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    60.8,
    52.3,
    50.9,
    69.7,
    68.9,
    60.5,
    78.7
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    41.4,
    40.9,
    51.5,
    36.4,
    29,
    37.3,
    26.2
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    38.5,
    40.6,
    41.5,
    41.7,
    28.9,
    33.6,
    30.1
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    4.2,
    4.6,
    3,
    5.3,
    4.4,
    4.9,
    5.5
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    57,
    53.2,
    52.8,
    52.5,
    47.6,
    45.5,
    59.6
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    14.3,
    13.6,
    8.4,
    7.1,
    6.1,
    4.3,
    3.8
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.2,
    1.1,
    1.2,
    1.3,
    1.4,
    1.3,
    1.4
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    33.7,
    34.3,
    43.2,
    42.8,
    55.7,
    43.6,
    57.7
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    34.9,
    32.3,
    32.2,
    28,
    29.7,
    36.1,
    33.5
   ]
  },
  "profit_retained_to_profit_after_tax_42": {
   "label": "Profit retained to profit after tax **",
   "unit": "pct",
   "data": [
    null,
    null,
    87.2,
    72.4,
    null,
    null,
    null
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    3.6,
    3.2,
    4.5,
    5.2,
    3,
    2.4,
    3.9
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to Total external sources",
   "unit": "pct",
   "data": [
    26,
    null,
    4.2,
    -1.5,
    -14.3,
    80.3,
    0.1
   ],
   "gaps": [
    "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."
  },
  "sales_to_total_net_assets": {
   "label": "Sales to total net assets",
   "unit": "pct",
   "data": [
    87.2,
    85.6,
    78.7,
    89.3,
    80.8,
    72.9,
    103.7
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    44.1,
    43.8,
    41.3,
    46.2,
    48.5,
    45.1,
    46
   ]
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to Total uses of funds",
   "unit": "pct",
   "data": [
    56.9,
    55.7,
    47.2,
    64.6,
    28.4,
    49.8,
    52.1
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    64.4,
    59.6,
    null,
    null,
    80.4,
    77.6,
    63.5
   ],
   "gaps": [
    "2014-04-01",
    "2015-04-01"
   ],
   "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,
    18.7,
    15,
    10.3,
    10.6,
    10.2
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    10.9,
    13.6,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    37.8,
    46.3,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "companies": {
   "label": "Number of companies in the study",
   "unit": "count",
   "data": [
    917,
    957,
    3320,
    6433,
    9428,
    7314,
    8095
   ]
  }
 }
}