According to the Reserve Bank of India (RBI), non-government non-financial private limited companies experienced a 31.6% year-on-year growth in profit after tax for the fiscal year 2025, a significant decline from the 51.9% growth in the previous year. This data, derived from the audited annual accounts of 15,919 companies, indicates that despite rising operating costs, these firms maintained double-digit growth, primarily driven by the robust performance in the services sector, which saw a 13.5% increase in sales. Overall net sales for these companies grew by 11.4%, slightly down from 11.7% in FY24. Operating expenses surged by 10.6%, attributed to increased manufacturing costs and employee remuneration. The report also highlighted a decline in leverage levels, with the debt-to-equity ratio improving, reflecting stronger debt-servicing capacity. Moreover, gross capital formation rose to 48.2% of total fund usage, suggesting enhanced investment activity within the sector. The overall findings indicate that while cost pressures remain, the non-government non-financial private sector is sustaining growth and reinforcing its balance sheets.