# West Asia shock squeezes India Inc margins beyond 2022 levels 2026-08-06T22:51:51+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Raw materials accounted for nearly 45% of net sales and about 50% of total expenditure at 642 non-financial companies in April-June, Mint reports. The figures were 42% and 47% respectively in the first quarter of FY23, after the Russia-Ukraine war began. Aggregate net profit fell nearly 9% year-on-year, while operating and net profit margins dropped to 15.3% and 8.4%. Mint’s separate analysis of 3,620 companies found power and fuel costs had fallen to around 1.5% of sales and expenditure by March 2026, from 2.5% in September 2022. Lower energy intensity, renewable capacity and stronger balance sheets offer some protection, but analysts expect inventory replacement and repriced contracts to increase pressure in the second and third quarters. ## Coverage - livemint.com - livemint.com Tags: commodities, India Inc, margins, raw materials, West Asia Canonical: https://indianopinion.org/west-asia-shock-cuts-india-inc-margins-to-three-year-lows/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/west-asia-shock-cuts-india-inc-margins-to-three-year-lows/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.