India's corporate profit-to-GDP ratio, which dropped to more than a decade's low of 2 per cent in FY18, saw a marginal improvement to 2.1 per cent last fiscal. The figure is still the second lowest since 2006 but this minor development cannot be ignored either, raising hopes of further acceleration. A majority of companies are in the process of filing annual reports for fiscal year 2019, which carries their audited financial data.
However, we managed to move ahead with the FY19 unaudited data of BSE-500 companies for the analysis. The constituents of the index cover all major industries in the Indian economy.