RBI Reports Double-Digit Sales Growth for Listed Private Non-Financial Companies in FY2025-26

The Reserve Bank of India (RBI) has reported that listed private non-financial companies registered a 10.1% year-on-year growth in sales during FY2025-26, marking a return to double-digit expansion after two consecutive years of single-digit growth. The improvement was primarily supported by a strong recovery in the manufacturing sector.

The assessment is based on the abridged financial results of 4,278 listed non-government non-financial (NGNF) companies. According to the RBI, manufacturing emerged as the key contributor to overall revenue growth during the financial year.

Manufacturing Sector Leads Performance

Manufacturing companies recorded 10.8% sales growth in FY2025-26, compared with 6.0% in the previous financial year. The expansion was largely driven by improved performance in the automobile, electrical machinery, food and beverages, and chemicals industries. However, the petroleum sector continued to report a contraction in sales during the period.

Services Sector Shows Mixed Trends

The information technology (IT) sector also registered moderate improvement, with sales growth increasing to 7.9% from 7.1% in the previous year. Meanwhile, non-IT services companies maintained double-digit sales growth, supported mainly by strong activity in the wholesale and retail trade segment.

Input Costs Rise Across Sectors

Manufacturing companies experienced an increase in production costs during FY2025-26. Raw material expenses rose by 12.0%, while the raw material-to-sales ratio increased to 57.6% from 55.7%, reflecting higher input cost pressures.