{
 "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": 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": {
  "sundry_debtors_to_sales": {
   "label": "Sundry debtors to sales",
   "unit": "pct",
   "data": [
    16.4,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    49.4,
    39.5,
    40,
    37.4,
    40.5,
    36.5,
    36.6,
    35.7
   ]
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to total uses of funds",
   "unit": "pct",
   "data": [
    47.5,
    56.7,
    50.9,
    52.7,
    79,
    50.2,
    41.8,
    44.1
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to total external sources",
   "unit": "pct",
   "data": [
    24.8,
    28.8,
    18,
    14.9,
    7,
    -10.2,
    4.5,
    25.2
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    16.4,
    16.7,
    15.6,
    14.3,
    15.8,
    16.5,
    16.2,
    14.6
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade receivables to sales",
   "unit": "pct",
   "data": [
    null,
    16.4,
    15.9,
    13.3,
    16.5,
    17.1,
    17.3,
    14.9
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1.4,
    1.2,
    1.2,
    1.2,
    1.2,
    1.1,
    1.1,
    1.1
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade payables to current assets",
   "unit": "pct",
   "data": [
    null,
    30.4,
    28.8,
    24.7,
    25.8,
    33.7,
    38.2,
    29.7
   ]
  },
  "sales_to_total_net_assets": {
   "label": "Sales to total net assets",
   "unit": "pct",
   "data": [
    76.5,
    72.2,
    74.6,
    65.8,
    70.7,
    56.5,
    55.7,
    63
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to total sources of funds",
   "unit": "pct",
   "data": [
    61.7,
    59.6,
    57.6,
    66.1,
    51.9,
    67.1,
    60.2,
    56.7
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    null,
    3.1,
    2.8,
    4.9,
    3.6,
    1.6,
    1.5,
    2.5
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    null,
    3.6,
    4.2,
    4.7,
    4.3,
    5.8,
    5.5,
    5.3
   ]
  },
  "cash_and_cash_equivalents_to_total_uses_of_funds": {
   "label": "Cash and Cash Equivalents to Total Uses of Funds",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    2.83,
    11.3,
    -2.1,
    2.2,
    null
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    11.2,
    11,
    11.3,
    20.3,
    13.9,
    9.4,
    8.5,
    12.8
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    44.2,
    42.7,
    43.7,
    45.3,
    42.5,
    43.3,
    43.9,
    40.9
   ]
  },
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to total uses of funds",
   "unit": "pct",
   "data": [
    36.7,
    46.7,
    45.2,
    45.7,
    78.7,
    45.3,
    34.4,
    35.2
   ]
  },
  "operating_profit_to_sales": {
   "label": "Operating Profit to sales",
   "unit": "pct",
   "data": [
    null,
    null,
    null,
    20.7,
    15.8,
    9.8,
    9,
    13.5
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    33.1,
    36,
    36.3,
    37.6,
    46.2,
    39.3,
    38,
    34.1
   ]
  },
  "exports_to_sales": {
   "label": "Exports to sales",
   "unit": "pct",
   "data": [
    20,
    21.1,
    18.4,
    null,
    12,
    8.5,
    8.9,
    7.1
   ],
   "gaps": [
    "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."
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    33.7,
    31.2,
    30.5,
    47.2,
    27,
    24.2,
    23.8,
    32.2
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    42.9,
    46.2,
    43.7,
    46.5,
    46.2,
    48.1,
    43.2,
    46.5
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    null,
    59.5,
    57.2,
    57.1,
    56.8,
    51.9,
    50.7,
    59.7
   ]
  },
  "total_outside_liabilities_to_net_worth": {
   "label": "Total outside liabilities to net worth",
   "unit": "pct",
   "data": [
    126.2,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    63,
    58.2,
    51.3,
    44.7,
    45.8,
    40.1,
    38.3,
    51.1
   ]
  },
  "total_borowings_to_equity": {
   "label": "Total borowings to equity",
   "unit": "pct",
   "data": [
    null,
    69,
    66.2,
    66.3,
    68.1,
    71.7,
    66.5,
    69.6
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    90.6,
    74.2,
    84,
    195.9,
    73.2,
    78.8,
    108,
    87.2
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    80.1,
    58.3,
    23.6,
    25.3,
    45.8,
    57.8,
    61.7,
    58.2
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    9.5,
    8.7,
    8.7,
    19.3,
    12.6,
    6.2,
    5.8,
    7.9
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    null,
    7.7,
    8.3,
    9.4,
    9.2,
    10,
    10.3,
    9.1
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    25.4,
    21.3,
    22.5,
    15.2,
    20.8,
    18.3,
    16.9,
    26.5
   ]
  },
  "sales_to_gross_fixed_assets": {
   "label": "Sales to gross fixed assets",
   "unit": "pct",
   "data": [
    156.7,
    149.3,
    139,
    158,
    105.8,
    109.1,
    109.5,
    130.4
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    8.1,
    7.6,
    8,
    12.8,
    9.4,
    5.1,
    4.6,
    7.7
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    null,
    5.4,
    5.3,
    13.9,
    7.9,
    5,
    4.7,
    5.3
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    76.2,
    71.5,
    69.4,
    82,
    69,
    76.8,
    82,
    69.1
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    2.9,
    2.9,
    3.2,
    3.9,
    4.9,
    3.3,
    3,
    3.7
   ]
  },
  "debt_to_equity_equity_adjusted_for_revaluation_reserve": {
   "label": "Debt to equity (equity adjusted for revaluation reserve)",
   "unit": "pct",
   "data": [
    43.6,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ebitda_to_sales": {
   "label": "EBITDA to sales",
   "unit": "pct",
   "data": [
    9.2,
    9.8,
    12.8,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "ordinary_dividends_to_ordinary_paid_up_capital": {
   "label": "Ordinary dividends to ordinary paid-up capital",
   "unit": "pct",
   "data": [
    33.3,
    34,
    32.4,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "sundry_creditors_to_current_assets": {
   "label": "Sundry creditors to current assets",
   "unit": "pct",
   "data": [
    22.9,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "raw_materials_consumed_to_value_of_production": {
   "label": "Raw materials consumed to value of production",
   "unit": "pct",
   "data": [
    58.5,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "sundry_creditors_to_net_working_capital": {
   "label": "Sundry creditors to net working capital",
   "unit": "pct",
   "data": [
    83,
    null,
    null,
    null,
    null,
    null,
    null,
    null
   ]
  },
  "companies": {
   "label": "Number of companies in the study",
   "unit": "count",
   "data": [
    3041,
    3014,
    4388,
    16923,
    19602,
    24612,
    16130,
    16045
   ]
  }
 }
}