India’s listed companies began the financial year with strong sales gains across sectors, driven by resilient domestic demand despite rising costs, signalling a robust outlook for the economy.
India’s listed corporate sector delivered a solid start to the financial year, even as higher costs continued to pressure margins. SBI Research said net sales at 2,257 listed non-BFSI companies rose 24% year on year in Q1 FY27, with EBITDA up 9% and profit after tax climbing 4%.
The strongest top-line gains came from Diamond, Gems & Jewellery, where sales jumped 45%, followed by Trading at 40% and Automobiles at 30%. SBI Research said the breadth of the improvement suggested that demand was not limited to one corner of the market, with consumer, industrial and trading businesses all contributing.
Profitability was less even. The research said aggregate EBITDA margins fell to 14.9% in Q1 FY27 from 16.8% a year earlier and 16.2% in the previous quarter, as companies absorbed higher input costs. Healthcare saw the steepest margin decline, while Cement and Entertainment also weakened. By contrast, Chemicals, Textiles, Steel and Diamond, Gems & Jewellery posted margin gains.
The earnings trend fits a broader picture of resilience in corporate India. Business Standard reported that early results in the Q1 FY27 season pointed to the fastest profit growth in 11 quarters, while Crisil said revenue growth for India Inc could reach a two-year high despite supply disruptions and cost pressures. SBI Research also linked the corporate performance to an 8% real GDP growth estimate for the quarter, underlining the role of domestic demand in supporting activity.
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