{
 "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 1182",
  "companyType": "Public 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": "Public 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": {
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    45.5,
    39,
    40.8,
    39.1,
    42,
    39.2,
    36,
    34.5
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    12.4,
    12,
    10,
    20.5,
    11.1,
    6.4,
    5.8,
    7.7
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    65,
    61.7,
    54.9,
    48.9,
    36.8,
    48.6,
    43.9,
    51.8
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    43.2,
    41.4,
    41.6,
    43.8,
    45.9,
    52.9,
    50.8,
    47.4
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    null,
    7.6,
    7.5,
    8.4,
    7.5,
    8.7,
    10.1,
    9.5
   ]
  },
  "operating_profit_to_sales": {
   "label": "Operating Profit to sales",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    20.5,
    13.1,
    8.6,
    9,
    14.7
   ]
  },
  "total_borowings_to_equity": {
   "label": "Total borowings to equity",
   "unit": "pct",
   "data": [
    null,
    61.3,
    63.2,
    62.2,
    70.7,
    75.8,
    74.1,
    70.9
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    86,
    57.1,
    25.7,
    39.3,
    44.5,
    54.6,
    64.2,
    60.6
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    9.3,
    8.8,
    8.6,
    13.1,
    8.6,
    5.2,
    4.7,
    7.9
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    17.6,
    19,
    16.9,
    null,
    16.6,
    20.5,
    18.7,
    8.8
   ],
   "gaps": [
    "2012-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    23.5,
    20.6,
    22.3,
    14.4,
    19.9,
    18.7,
    14.9,
    25
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    null,
    8.3,
    6.1,
    13.9,
    6.2,
    4.4,
    4.7,
    5.6
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    77,
    74.5,
    72.6,
    null,
    null,
    null,
    78.2,
    71.1
   ],
   "gaps": [
    "2012-04-01",
    "2013-04-01",
    "2014-04-01"
   ],
   "gapsNote": "No figure in this year's study for this item or cut (not published, or the cut had no companies); left empty."
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    3.1,
    3,
    2.9,
    null,
    null,
    39.1,
    4,
    3.3
   ],
   "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."
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    12.3,
    13,
    13.3,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    32.4,
    34,
    31,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    null,
    59.2,
    59.7,
    60.7,
    62.3,
    57.4,
    49,
    55.8
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    45.8,
    45.3,
    44.4,
    45.2,
    42.5,
    42.8,
    43.5,
    40.9
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    35.8,
    37.6,
    36.4,
    37,
    43.6,
    37.2,
    39.7,
    37.2
   ]
  },
  "raw_materials_consumed_to_value_of_production": {
   "label": "Raw materials consumed to value of production",
   "unit": "pct",
   "data": [
    54.1,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    16.5,
    17.4,
    15.7,
    14,
    15.8,
    16.7,
    16.8,
    15
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    13.9,
    13.4,
    11.9,
    19.6,
    11.4,
    8.2,
    8.7,
    13.8
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    null,
    3,
    3.6,
    4.1,
    3.8,
    5.2,
    5.8,
    5.7
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    null,
    4.6,
    3.4,
    5.5,
    3.2,
    1.6,
    1.5,
    2.5
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade payables to current assets",
   "unit": "pct",
   "data": [
    null,
    28.4,
    27.7,
    24.7,
    26.3,
    30.7,
    34.7,
    30.2
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.3,
    1.3,
    1.2,
    1.3,
    1.2,
    1.3,
    1.2,
    1.1
   ]
  },
  "sundry_creditors_to_net_working_capital": {
   "label": "Sundry creditors to net working capital",
   "unit": "pct",
   "data": [
    99.8,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade receivables to sales",
   "unit": "pct",
   "data": [
    null,
    15.4,
    15.5,
    13.5,
    14.9,
    15.9,
    17.5,
    15.3
   ]
  },
  "sundry_debtors_to_sales": {
   "label": "Sundry debtors to sales",
   "unit": "pct",
   "data": [
    15.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "total_outside_liabilities_to_net_worth": {
   "label": "Total outside liabilities to net worth",
   "unit": "pct",
   "data": [
    118.4,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "debt_to_equity_equity_adjusted_for_revaluation_reserve": {
   "label": "Debt to equity (equity adjusted for revaluation reserve)",
   "unit": "pct",
   "data": [
    44.2,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "sundry_creditors_to_current_assets": {
   "label": "Sundry creditors to current assets",
   "unit": "pct",
   "data": [
    24.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  }
 }
}