Q4 2024, 25 saw slower revenue growth but higher profitability for Indian private non-financial companies, with manufacturing easing and IT services gaining, while supply chains improved.

• Manufacturing sales steady at 9% excluding petroleum, driven by PMI expansion and strong capital goods output.
• Auto production rebounded in May, with two-wheelers recovering and three-wheelers accelerating sharply.
• Supply chain pressures eased below average due to improved delivery times and semiconductors, though new orders declined.