RBI data shows listed private non‑financial companies posted 13.9% YoY sales growth in Q4 2025‑26, up from 10.1% in Q3.
Manufacturing sales rose 14.5% YoY, driven by automobiles, electrical machinery and non‑ferrous metals, while IT sales grew 9.9% YoY.
Raw material expenses jumped 18.3% YoY, raising the raw‑material‑to‑sales ratio to 58.5%, while operating profit growth slowed to 9.4% for manufacturers.
Interest coverage ratio for manufacturers improved to 9.5, whereas non‑IT services ICR stayed at 2.3, indicating varied debt‑servicing capacity.