{
 "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 1182",
  "companyType": "Public limited companies",
  "statement": "Financial ratios",
  "cut": null,
  "studies": [
   "2020-21",
   "2021-22",
   "2022-23",
   "2023-24",
   "2024-25"
  ],
  "coverage": "Public limited companies: financial ratios, from the RBI's annual studies (2020-21 to 2024-25 studies)",
  "unit": "pct",
  "studyOffset": 1,
  "note": "The figure for a year as re-measured in the study 1 year later, on that later study's sample. Kept apart from the year's own study (the bundle without -prior), never mixed.",
  "latestPeriod": "2023-04"
 },
 "dates": [
  "2019-04-01",
  "2020-04-01",
  "2021-04-01",
  "2022-04-01",
  "2023-04-01"
 ],
 "series": {
  "gross_fixed_assets_formation_to_total_uses_of_funds": {
   "label": "Gross fixed assets formation to total uses of funds",
   "unit": "pct",
   "data": [
    65.8,
    47,
    28.2,
    67.7,
    49.6
   ]
  },
  "total_borrowings_to_equity": {
   "label": "Total borrowings to equity",
   "unit": "pct",
   "data": [
    61.9,
    54.9,
    55.4,
    54.6,
    49.2
   ]
  },
  "current_assets_to_current_liabilities": {
   "label": "Current assets to current liabilities",
   "unit": "times",
   "data": [
    1,
    1.2,
    1.2,
    1.2,
    1.3
   ]
  },
  "profit_after_tax_to_net_worth": {
   "label": "Profit after tax to net worth",
   "unit": "pct",
   "data": [
    4.2,
    7.3,
    11.5,
    10.9,
    10.8
   ]
  },
  "external_sources_of_funds_to_total_sources_of_funds": {
   "label": "External sources of funds to total sources of funds",
   "unit": "pct",
   "data": [
    61.7,
    49.4,
    49.8,
    48,
    33.8
   ]
  },
  "tax_provision_to_profit_before_tax": {
   "label": "Tax provision to profit before tax",
   "unit": "pct",
   "data": [
    19.6,
    21.7,
    22.3,
    20.9,
    23.2
   ]
  },
  "increase_in_bank_borrowings_to_total_external_sources": {
   "label": "Increase in bank borrowings to total external sources",
   "unit": "pct",
   "data": [
    -1.5,
    -17.7,
    10,
    15.1,
    17.1
   ]
  },
  "current_assets_to_total_net_assets": {
   "label": "Current assets to total net assets",
   "unit": "pct",
   "data": [
    34.2,
    34.2,
    36.2,
    34.9,
    35.1
   ]
  },
  "net_sales_to_gross_fixed_assets": {
   "label": "Net sales to gross fixed assets",
   "unit": "pct",
   "data": [
    110.2,
    91.8,
    117.8,
    123.7,
    122.8
   ]
  },
  "inventories_to_sales": {
   "label": "Inventories to sales",
   "unit": "pct",
   "data": [
    14.6,
    16,
    15.5,
    13.6,
    14.1
   ]
  },
  "net_fixed_assets_to_total_net_assets": {
   "label": "Net fixed assets to total net assets",
   "unit": "pct",
   "data": [
    39,
    38.4,
    35.9,
    39,
    37
   ]
  },
  "profit_after_tax_to_sales": {
   "label": "Profit after tax to sales",
   "unit": "pct",
   "data": [
    3,
    6.6,
    8.6,
    7.3,
    7.9
   ]
  },
  "gross_capital_formation_to_total_uses_of_funds": {
   "label": "Gross capital formation to total uses of funds",
   "unit": "pct",
   "data": [
    64.2,
    51.3,
    45.7,
    74.6,
    55.5
   ]
  },
  "trade_receivables_to_sales": {
   "label": "Trade receivables to sales",
   "unit": "pct",
   "data": [
    14.2,
    14.9,
    13,
    11.7,
    11.9
   ]
  },
  "gross_profit_ebit_to_sales": {
   "label": "Gross profit (EBIT) to sales",
   "unit": "pct",
   "data": [
    12.5,
    15.3,
    14.8,
    13.2,
    14
   ]
  },
  "cost_of_raw_materials_to_total_expenditure": {
   "label": "Cost of raw materials to total expenditure",
   "unit": "pct",
   "data": [
    53.6,
    51.5,
    57.9,
    58.3,
    57.9
   ]
  },
  "debt_to_equity": {
   "label": "Debt to equity",
   "unit": "pct",
   "data": [
    41.7,
    41.3,
    35.8,
    36,
    32.8
   ]
  },
  "operating_profit_to_sales": {
   "label": "Operating profit to sales",
   "unit": "pct",
   "data": [
    14.3,
    17.6,
    16.5,
    14.7,
    15.3
   ]
  },
  "interest_paid_to_total_expenditure": {
   "label": "Interest paid to total expenditure",
   "unit": "pct",
   "data": [
    4.9,
    5.4,
    3.8,
    3.5,
    3.6
   ]
  },
  "dividends_to_net_worth": {
   "label": "Dividends to net worth",
   "unit": "pct",
   "data": [
    4.6,
    3.1,
    3.6,
    5.5,
    3.9
   ]
  },
  "interest_coverage_ratio_ebit_to_interest": {
   "label": "Interest coverage ratio (EBIT to interest)",
   "unit": "times",
   "data": [
    2.7,
    3,
    4.1,
    3.9,
    4.1
   ]
  },
  "gross_profit_ebit_to_total_net_assets": {
   "label": "Gross profit (EBIT) to total net assets",
   "unit": "pct",
   "data": [
    7.4,
    7.7,
    9.2,
    9.1,
    9.3
   ]
  },
  "net_worth_to_total_net_assets": {
   "label": "Net worth to total net assets",
   "unit": "pct",
   "data": [
    42.3,
    45.6,
    46.9,
    46.2,
    48.6
   ]
  },
  "net_sales_to_total_net_assets": {
   "label": "Net sales to total net assets",
   "unit": "pct",
   "data": [
    60.9,
    51.9,
    65.6,
    71.6,
    69.7
   ]
  },
  "trade_payables_to_current_assets": {
   "label": "Trade payables to current assets",
   "unit": "pct",
   "data": [
    27.9,
    26.2,
    28.3,
    28.3,
    27.6
   ]
  },
  "gross_savings_to_gross_capital_formation": {
   "label": "Gross savings to gross capital formation",
   "unit": "pct",
   "data": [
    48.6,
    107.4,
    131.4,
    66.3,
    103.3
   ]
  },
  "profit_retained_to_profit_after_tax": {
   "label": "Profit retained to profit after tax",
   "unit": "pct",
   "data": [
    61.1,
    75,
    75.4,
    60.3,
    71.2
   ]
  },
  "quick_assets_to_current_liabilities": {
   "label": "Quick assets to current liabilities",
   "unit": "pct",
   "data": [
    49.7,
    60.2,
    58.6,
    58.8,
    62.1
   ]
  },
  "short_term_bank_borrowings_to_inventories": {
   "label": "Short term bank borrowings to inventories",
   "unit": "pct",
   "data": [
    43.4,
    32.1,
    29.9,
    34.3,
    30.3
   ]
  },
  "gross_value_added_to_gross_fixed_assets": {
   "label": "Gross value added to gross fixed assets",
   "unit": "pct",
   "data": [
    29.1,
    27.8,
    31.8,
    31.2,
    32.5
   ]
  },
  "remuneration_to_employees_to_total_expenditure": {
   "label": "Remuneration to employees to total expenditure",
   "unit": "pct",
   "data": [
    10.4,
    11.1,
    9.3,
    9.3,
    9.9
   ]
  }
 }
}