{
 "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 1166",
  "companyType": "Foreign direct investment companies",
  "statement": "Financial ratios",
  "cut": null,
  "studies": [
   "2020-21",
   "2021-22",
   "2022-23",
   "2023-24",
   "2024-25"
  ],
  "coverage": "Foreign direct investment companies: financial ratios, from the RBI's annual studies (2020-21 to 2024-25 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": "2022-04"
 },
 "dates": [
  "2018-04-01",
  "2019-04-01",
  "2020-04-01",
  "2021-04-01",
  "2022-04-01"
 ],
 "series": {
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.4,
    1.2,
    1.3,
    1.4,
    1.5
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    11.5,
    11,
    11.4,
    11.2,
    10
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    62.6,
    65.3,
    44.1,
    54.1,
    49.8
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    8.6,
    -0.7,
    5.2,
    9.8,
    12.5
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade payables to current assets",
   "unit": "pct",
   "data": [
    30.5,
    28.6,
    29.7,
    29.9,
    32.1
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    4.7,
    4.1,
    7.6,
    7.7,
    8.5
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    8.8,
    7,
    7.5,
    8.8,
    9.9
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    52.2,
    47.6,
    46.5,
    51,
    52.5
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    4.1,
    2.5,
    3.1,
    3.8,
    5.3
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    43.9,
    39.8,
    40.2,
    44.1,
    47.7
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    2.6,
    3.8,
    3.6,
    2.8,
    1.9
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    79.5,
    68.9,
    77,
    85.5,
    88.9
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    42,
    48,
    49.5,
    49.3,
    36.5
   ]
  },
  "operating_profit_to_sales": {
   "label": "Operating profit to sales",
   "unit": "pct",
   "data": [
    11.4,
    12.7,
    14,
    12.5,
    10.7
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    32,
    37.4,
    41.8,
    37,
    24.9
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    10.2,
    9.6,
    10.6,
    10.2,
    9.8
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    20.1,
    26.7,
    18.2,
    21.7,
    22.9
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    29.5,
    24.8,
    24.9,
    24.2,
    22.4
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    4.8,
    -0.4,
    3.2,
    5,
    5.9
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade receivables to sales",
   "unit": "pct",
   "data": [
    14.9,
    14.2,
    14.7,
    14,
    14.8
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    36,
    39.5,
    38.7,
    35.4,
    31.8
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    15.3,
    16.4,
    18.5,
    17.7,
    19
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    48.3,
    43.3,
    43.2,
    44.2,
    47.9
   ]
  }
 }
}