Unlisted firms outpace listed peers with faster revenue, earnings growth

Unlisted companies are outpacing their listed counterparts, with faster revenue and earnings growth. According to data from the Centre for Monitoring Indian Economy (CMIE), unlisted firms recorded sales growth of 8.34 per cent in the financial year 2023-24, compared to just 1.69 per cent for listed companies. 

 

The findings are based on a sample of 4,231 unlisted companies (excluding financial firms), compared with 3,575 listed non-financial companies. Although data for unlisted firms typically lags behind, the December-end sample covers about a quarter of the unlisted companies in the CMIE database, often reflecting trends among larger, better-managed firms. 

 

A key driver