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Date : May 06, 2019
Finances of Non-Government Non-financial (NGNF) Public Limited Companies, 2017-18: Data Release

Today, the Reserve Bank released on its website (!2_44) data relating to the finances of non-government non-financial (NGNF) public limited companies for 2017-18, based on audited annual balance sheets and profit and loss accounts of 16,130 such companies accounting for 48.7 per cent of total paid-up capital (PUC) as on March 31, 2018. Explanatory notes to the statements are given in the Annex.



  • Overall sales growth improved in 2017-18, led by manufacturing which, in turn, was steered by the sub-sectors of iron and steel; motor vehicles; chemicals and cement (Statement 1 and 11).

  • In the services sector, computer services witnessed an acceleration in sales growth.

  • The construction sector witnessed contraction in sales growth for the second successive year.


  • Input cost pressures were observed in 2017-18 across all sectors due to a surge in expenditure on raw materials (Statement 1 and 11).

Operating profit

  • Operating profit growth moderated, largely led by the services sector and within it, wholesale and retail trade; accommodation and food services; and computer services (Statement 11).

  • Operating profit margin of the manufacturing sector improved in 2017-18 (Statement 12).

Profit after tax

  • Net profit growth decelerated at the aggregate level, mainly due to heavy losses incurred by the services sector (Statement 1 and 11).


  • GVA growth of the manufacturing sector accelerated in 2017-18, while for the services sector, it recorded deceleration (Statement 11).


  • The growth in aggregated borrowings decelerated in 2017-18, but the growth in borrowings from banks accelerated (Statement 1).

  • The mining and quarrying sector witnessed contraction in borrowings growth for the second successive year.


  • Equity instruments/shares were preferred as a mode of investment by corporates and accounted for around 82 percent of total long term investment in 2017-18 (Statement 4).

  • In the short term, mutual funds and debentures/bonds were preferred modes of investment.


  • Leverage (measured by the debt to equity ratio) of the mining and quarrying and manufacturing sectors improved in 2017-18.

  • While the interest coverage ratio of the services sector deteriorated, the manufacturing sector exhibited substantial improvement (Statement 12).


1. Data for the finances of non-government non-financial (NGNF) public limited companies for 2016-17 is also released along with this data release.

2. Primary source of data is Ministry of Corporate Affairs (MCA).

Shailaja Singh
Deputy General Manager

Press Release: 2018-2019/2612