Overview

• Sales of 3,902 listed private non-financial firms rose by 7.2% in FY25, up from 4.7% a year earlier.
• Manufacturing revenues climbed 6% on strength in autos, electrical machinery, food and beverages, and pharmaceuticals, while petroleum and iron & steel output contracted.
• IT sector sales improved to 7.1% despite global headwinds and non-IT services logged double-digit growth led by telecommunications, transport and retail trade.
• Raw material expenses for manufacturers jumped 6.6%, lifting the raw material-to-sales ratio to 55.7%, and staff costs increased by 10% in manufacturing, 4.4% in IT and 12% in non-IT services.
• Operating profit growth slowed across sectors, with manufacturing profits up 6% (down from 12.4%) and sector margins dipping by 20–80 basis points.