Today, the Reserve Bank released the data relating to financial performance of non-government non-financial (NGNF) public limited companies during 2024-25 (https://data.rbi.org.in/#/dbie/reports/Statistics/Corporate%20Sector/Non-Government%20Non-Financial%20Public%20Limited%20Companies) based on audited annual accounts of select 7,992 companies, which reported in the Indian Accounting Standards (Ind-AS) format for three accounting years from 2022-23 to 2024-25, received from the Ministry of Corporate Affairs, Government of India, which is the primary source of these data. Total paid-up capital (PUC) of these companies amounted to ₹8,51,281 crore as at end March 2025, constituting 64.3 per cent of the total PUC of NGNF public limited companies1. Highlights Sales -
The growth in net sales of the select NGNF public limited companies inched up to 7.8 per cent from 6.3 per cent in the previous year; sales growth of manufacturing and services sector increased to 6.3 per cent and 10.1 per cent, respectively during 2024-25 from 5.0 per cent and 7.4 per cent growth recorded during the previous year, respectively (Statement 1 and 11). -
Sales of services sector was mainly driven by expansion in sales of ‘Transport and storage services’ and ‘Information and communication’ sectors (Statement 11). Expenditure - In line with the increase in sales growth, operating expenses rose by 8.4 per cent during 2024-25 on the back of higher growth in manufacturing expenses (Statements 1 and 11).
Profit -
Increase in total expenses due to higher expenditure in raw materials resulted moderation in growth of operating profits from 15.3 per cent to 8.4 per in 2024-25, at aggregate level (Statements 1 and 11). -
Profit after tax increased significantly by 23.1 per cent during 2024-25; driven by strong non-operating income and moderated tax expenses; services sector companies recorded much higher post tax profit growth (40.2 per cent) when compared to that in the manufacturing sector (12.8 per cent) (Statements 1,3, and 11). -
Net profit margin improved across major sectors during 2024-25 (Statements 2 and 12). Leverage -
The NGNF public limited companies, continued to deleverage their balance sheet during 2024-25 as aggregate debt-to-equity ratio moderated to 29.8 from 32.8 per cent in 2023-24 (Statement 2). -
Interest coverage ratio2 (ICR), a measure of debt servicing capacity improved to 4.3 during 2024-25; ICR of manufacturing companies increased to 6.8, and that of services companies to 3.4 (Statements 2 and 12). Sources and Uses of Fund -
Internal sources remained primary driver of funding, accounting for 57.2 per cent of total funds during 2024-25; within internal sources reserves and surplus showed an impressive growth of 40.8 per cent (Statement 5A). -
Gross fixed assets formation remained robust, accounting for 41.1 per cent in total uses of funds during 2024-25. (Statement 5B). Explanatory notes to the statements are given in the Annex. Ajit Prasad
Deputy General Manager
(Communications) Press Release: 2025-2026/2359
1 The previous data release in the series was published on Feb 24, 2025. It covered 6,955 companies for the years 2022-22 to 2023-24 with total PUC of ₹7,82,257 crore (55.7 per cent of total PUC of NGNF public limited companies) at end-March 2024. 2 ICR (i.e., ratio of earnings before interest and tax to interest expenses) is a measure of debt servicing capacity of a company. The minimum value for a variable ICR is 1 |
