{
 "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 1187",
  "companyType": "Private limited companies",
  "statement": "Financial ratios",
  "cut": null,
  "studies": [
   "2011-12",
   "2012-13",
   "2013-14",
   "2014-15",
   "2015-16",
   "2016-17",
   "2017-18",
   "2018-19"
  ],
  "coverage": "Private limited companies: financial ratios, from the RBI's annual studies (2011-12 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": [
  "2009-04-01",
  "2010-04-01",
  "2011-04-01",
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01"
 ],
 "series": {
  "debt_to_equity_equity_adjusted_for_revaluation_reserve": {
   "label": "Debt to equity (equity adjusted for revaluation reserve)",
   "unit": "pct",
   "data": [
    31.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    null,
    2.4,
    2.4,
    2.8,
    2.6,
    2.7,
    2.5,
    2.6
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    5.4,
    5.2,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    null,
    27.4,
    23.6,
    23,
    24.7,
    26.4,
    28.4,
    27.4
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    9.6,
    10.9,
    null,
    6.5,
    5.3,
    5,
    2.6,
    4.3
   ],
   "gaps": [
    "2011-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to total uses of funds",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    51
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    54.2,
    54.6,
    49.7,
    50.6,
    53.8,
    56.6,
    56.6,
    52.9
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    58.9,
    63.4,
    60.3,
    55.6,
    50.4,
    55.3,
    58.1,
    66.5
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    16.3,
    20.5,
    17.6,
    20.8,
    20.5,
    20,
    18.1,
    16.6
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    84.7
   ]
  },
  "sundry_creditors_to_current_assets": {
   "label": "Sundry creditors to current assets",
   "unit": "pct",
   "data": [
    27.7,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "total_outside_liabilities_to_net_worth": {
   "label": "Total outside liabilities to net worth",
   "unit": "pct",
   "data": [
    131.2,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to total uses of funds",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    36.4
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    null,
    3.4,
    4.3,
    3,
    3.4,
    1.6,
    1.8,
    2.1
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    31.1,
    39.4,
    36.5,
    43,
    51.2,
    57.1,
    55.9,
    56.5
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    null,
    61.9,
    58.3,
    70.1,
    86.3,
    94.3,
    92.9,
    86.6
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    43.3,
    43.6,
    46.3,
    43.4,
    38,
    35.2,
    35.8,
    36.9
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to total sources of funds",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    67.7
   ]
  },
  "sundry_debtors_to_sales": {
   "label": "Sundry debtors to sales",
   "unit": "pct",
   "data": [
    16.7,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    7.2
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    8.5,
    8.1,
    9.8,
    8,
    8.6,
    4.3,
    4.5,
    5.7
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    29,
    27,
    18.7,
    15.3,
    15.8,
    26.9,
    17.7,
    29.3
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    null,
    13.1,
    7.5,
    4.5,
    6,
    8.2,
    8.1,
    8.5
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    8.8,
    10.1,
    7.9,
    7.7,
    8.8,
    4.5,
    4.6,
    6.1
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    null,
    4.3,
    5.8,
    4.3,
    5.2,
    0.9,
    1.6,
    1.8
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    33.6,
    32.5,
    21.7,
    24.8,
    25.9,
    23.3,
    24.4,
    29.3
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to total external sources",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    18.5
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    null,
    56,
    58.4,
    54.5,
    56.1,
    57.4,
    61.4,
    66.8
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    7.7,
    6.9,
    7.8,
    6.1,
    7.5,
    4.1,
    4.5,
    5.5
   ]
  },
  "raw_materials_consumed_to_value_of_production": {
   "label": "Raw materials consumed to value of production",
   "unit": "pct",
   "data": [
    57,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    2.3,
    2.1,
    null,
    null,
    null,
    0.9,
    0.68,
    0.9
   ],
   "gaps": [
    "2011-04-01",
    "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."
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    81.5,
    39.7,
    29.8,
    32,
    27.6,
    34.9,
    36,
    34.4
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.3,
    1.5,
    1.5,
    1.4,
    1.3,
    1.4,
    1.4,
    1.4
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    null,
    17.5,
    16.9,
    16.4,
    17,
    17.3,
    16.7,
    15.8
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    9.3,
    8.5,
    9.9,
    7.6,
    11.9,
    2.5,
    4.4,
    4.7
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    79.4,
    83.4,
    98.9,
    null,
    null,
    91.5,
    95.8,
    91.5
   ],
   "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."
  },
  "sundry_creditors_to_net_working_capital": {
   "label": "Sundry creditors to net working capital",
   "unit": "pct",
   "data": [
    132.5,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  }
 }
}