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Sales growth of listed private non-financial firms returns to double digits in FY26: RBI
Jun-25-2026

The Reserve Bank of India (RBI) has said that the sales of listed private non-financial companies grew 10.1% during financial year 2025-26. After remaining in the single digits for the last two years, the sales growth is returned to double digits in 2025-26, supported by growth in the manufacturing sector. The manufacturing sector companies recorded a sales growth of 10.8% during 2025-26 compared to 6.0% in the preceding year.

The sales growth in manufacturing sectors was mainly led by the automobiles, electrical machinery, food & beverages and chemicals industries. Meanwhile, the petroleum industry continued to record a contraction in sales during 2025-26. On services front, IT companies reported sales growth of 7.9% in 2025-26 as against 7.1% in the previous year. Further, non-IT services companies continued to record double-digit sales growth during 2025-26, led by healthy performance in the wholesale and retail sectors.

On the cost front, RBI noted that raw material expenses for manufacturing companies increased by 12.0% during 2025-26 and the raw material-to-sales ratio increased to 57.6% in 2025-26 from 55.7% a year ago, pointing to input cost pressure. Besides, staff cost rose by 10.7%, 6.1% and 9% during 2025-26 for manufacturing, IT and non-IT services companies, respectively. Moreover, the staff cost-to-sales ratio broadly remained stable for manufacturing companies while it declined for services companies.

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