The Reserve Bank released data on the performance of the private corporate sector during 2025-26, based on abridged financial results of 4,278 listed non-government non-financial (NGNF) companies. The tables also include corresponding data for 2024-25 for comparison.
According to the release, listed private non-financial companies recorded aggregate sales growth of 10.1 per cent in 2025-26, after single digit growth in the previous two years. The Reserve Bank said the acceleration was mainly led by a substantial improvement in sales growth in the manufacturing sector.
Manufacturing sector companies posted sales growth of 10.8 per cent in 2025-26, compared with 6.0 per cent in the previous year. The increase was mainly led by automobiles, electrical machinery, food & beverages and chemicals industries. Petroleum industry continued to record contraction in sales during 2025-26.
Sales growth of IT companies rose further to 7.9 per cent in 2025-26 from 7.1 per cent in the previous year. Non-IT services companies continued to record double digit sales growth during 2025-26, led by wholesale & retail trade industry.
On expenditure, raw material expenses of manufacturing companies rose by 12.0 per cent during 2025-26. The raw material to sales ratio increased to 57.6 per cent in 2025-26 from 55.7 per cent a year ago, pointing to input cost pressure.
Staff cost rose by 10.7 per cent, 6.1 per cent and 9.0 per cent during 2025-26 for manufacturing, IT and non-IT services companies, respectively. The staff cost to sales ratio broadly remained stable for manufacturing companies while it declined for services companies.
Despite the increase in input costs, operating profit growth of manufacturing companies improved to 10.3 per cent during 2025-26 from 6.0 per cent in the previous year. Within services, operating profit for non-IT services companies decelerated to 7.1 per cent in 2025-26, while it improved to 10.7 per cent for IT companies.
Operating profit margin declined by 30 basis points (bps) and 210 bps to 13.9 per cent and 20.0 per cent, respectively, for manufacturing and non-IT services companies. It improved by 50 bps to 22.4 per cent for IT companies.
With a higher rise in gross profit and a decline in interest expenses, manufacturing companies’ interest coverage ratio (ICR) improved to 9.1 during 2025-26 from 7.9 in the previous year. Within services, ICR of non-IT services companies remained unchanged at 2.2 in 2025-26 from the previous year, while ICR of IT firms continued to remain at an elevated level.
The data can be accessed at the web-link: https://data.rbi.org.in/DBIE/#/dbie/reports/Statistics/Corporate%20Sector/Listed%20Non-Government%20Non-Financial%20Companies.
Source: www.rbi.org.in.
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