{
 "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": 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": [
  "2011-04-01",
  "2012-04-01",
  "2013-04-01",
  "2014-04-01",
  "2015-04-01",
  "2016-04-01",
  "2017-04-01",
  "2018-04-01"
 ],
 "series": {
  "debt_to_equity_equity_adjusted_for_revaluation_reserve": {
   "label": "Debt to equity (equity adjusted for revaluation reserve)",
   "unit": "pct",
   "data": [
    36.4,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    null,
    2.5,
    2.6,
    2.8,
    2.7,
    2.8,
    2.4,
    2.6
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    4.4,
    4.6,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade Payables to current assets",
   "unit": "pct",
   "data": [
    null,
    27.7,
    22.6,
    23.6,
    24.3,
    26.5,
    28.7,
    28.1
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    8.6,
    10.6,
    null,
    6.3,
    5.7,
    2.9,
    2.1,
    3.1
   ],
   "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."
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to total uses of funds",
   "unit": "pct",
   "data": [
    43.6,
    51.2,
    44.7,
    61.9,
    62.6,
    41.6,
    45.7,
    51
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    56.8,
    53.5,
    49.8,
    50.7,
    55.3,
    57.1,
    57.5,
    55
   ]
  },
  "sales_to_total_net_assets": {
   "label": "Sales to total net assets",
   "unit": "pct",
   "data": [
    102.5,
    99.3,
    82.5,
    80.1,
    90.3,
    94.6,
    107.1,
    106.9
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    56.8,
    62.7,
    58.9,
    54.4,
    55.3,
    56.3,
    61.8,
    68.4
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    16.6,
    18.5,
    17.9,
    21.6,
    21,
    20.5,
    17.2,
    15.6
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    50.9,
    50.8,
    53.8,
    37.2,
    48.7,
    45.2,
    47.8,
    47.2
   ]
  },
  "sundry_creditors_to_current_assets": {
   "label": "Sundry creditors to current assets",
   "unit": "pct",
   "data": [
    25.4,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "total_outside_liabilities_to_net_worth": {
   "label": "Total outside liabilities to net worth",
   "unit": "pct",
   "data": [
    143.3,
    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": [
    29.1,
    37.5,
    32.2,
    48,
    51,
    27.1,
    35.4,
    35.2
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    null,
    3.1,
    4.2,
    3.2,
    3.7,
    1.8,
    2.1,
    2.3
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    35.8,
    40.6,
    42.9,
    49.5,
    53.8,
    59,
    56.6,
    51.6
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    null,
    68.9,
    67.1,
    80.3,
    87.6,
    96.5,
    93.2,
    81.7
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to total sources of funds",
   "unit": "pct",
   "data": [
    70.5,
    66.3,
    61.5,
    70.5,
    49.1,
    70.7,
    53.7,
    54.8
   ]
  },
  "sales_to_gross_fixed_assets": {
   "label": "Sales to gross fixed assets",
   "unit": "pct",
   "data": [
    225,
    208.1,
    254.7,
    234.2,
    263.9,
    271.6,
    298.4,
    262.6
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    41.1,
    41.9,
    44.1,
    40.9,
    37.2,
    34.7,
    35.6,
    37.4
   ]
  },
  "sundry_debtors_to_sales": {
   "label": "Sundry debtors to sales",
   "unit": "pct",
   "data": [
    16.5,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    85,
    54,
    126.3,
    75.4,
    89.3,
    79.5,
    87.7,
    88.2
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    7.4,
    7.5,
    10.3,
    8.8,
    9.5,
    4.9,
    5,
    5.9
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    29.8,
    30.7,
    18.7,
    14.8,
    16.9,
    25.8,
    27.4,
    28.1
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    null,
    13.2,
    8.1,
    5,
    6.8,
    9.6,
    8.8,
    8.9
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    8.7,
    9.1,
    8.4,
    9.1,
    10.1,
    5.2,
    5.2,
    6.1
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    null,
    2.8,
    6.1,
    4.9,
    5.8,
    1.1,
    1.8,
    2.2
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    7.1,
    7,
    8.1,
    6.7,
    8.2,
    4.5,
    5.1,
    6.1
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to total external sources",
   "unit": "pct",
   "data": [
    11.4,
    35.4,
    28.1,
    19.4,
    15.2,
    5.7,
    -6.7,
    5.8
   ]
  },
  "raw_materials_consumed_to_value_of_production": {
   "label": "Raw materials consumed to value of production",
   "unit": "pct",
   "data": [
    57.7,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    29.8,
    31.2,
    24.2,
    26.4,
    25.9,
    23.3,
    23.9,
    27.2
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    null,
    56.8,
    57.2,
    52.6,
    55.1,
    55.3,
    60.9,
    67.6
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    1.7,
    1.8,
    1.5,
    1,
    1.1,
    0.6,
    0.52,
    1.5
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    63.6,
    52.9,
    33.2,
    23.9,
    30.4,
    34.6,
    35.6,
    34.2
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.3,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4,
    1.4
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade Receivables to sales",
   "unit": "pct",
   "data": [
    null,
    17.1,
    17.3,
    16.7,
    17.5,
    18.4,
    17.8,
    16.4
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    6.9,
    6.1,
    10.8,
    9.1,
    13.6,
    2.9,
    5.1,
    5.9
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    86.1,
    85.2,
    88.6,
    94,
    94.3,
    98.4,
    95.3,
    86.7
   ]
  },
  "sundry_creditors_to_net_working_capital": {
   "label": "Sundry creditors to net working capital",
   "unit": "pct",
   "data": [
    108.3,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "companies": {
   "label": "Number of companies in the study",
   "unit": "count",
   "data": [
    1741,
    1628,
    255426,
    237398,
    292308,
    406739,
    245333,
    229312
   ]
  }
 }
}