Indeed, in sharp contrast to corporate India, which logged a decadal-high Ebitda margin in fiscal 2021, as many as 46% of the MSME sectors lagged the pre-pandemic level in the previous fiscal.

The twice-a-year exclusive analysis covers 69 sectors and 147 clusters that logged aggregate revenue of Rs 56 lakh crore.

Inability to pass on the high commodity prices fully will ensure the earnings before interest, tax, depreciation and amortisation (Ebitda) margin of as much as 10-15% of India’s micro, small and medium enterprise (MSME) universe by value remains below the pre-pandemic (fiscal 2020) level even this fiscal, according to CRISIL.
 
Indeed, in sharp contrast to corporate India, which logged a decadal-high Ebitda margin in fiscal 2021, as many as 46% of the MSME sectors lagged the pre-pandemic level in the previous fiscal.
 
CRISIL MI&A Research's MSME Report indicates as much. The twice-a-year exclusive analysis covers 69 sectors and 147 clusters that logged aggregate revenue of Rs 56 lakh crore, representing 20-25% of India’s gross domestic product (implying coverage of two-thirds of the MSME universe) in fiscal 2022.