Revenue growth

The change in sales from one period to the next, and the most quoted and least decomposed number in company analysis.

Revenue rising from ₹4,200 crore to ₹4,800 crore is 14.3% growth.

The decomposition is where the information is. Growth is volume, price, mix, currency, acquisition or a change in accounting, and those six have very different implications for value. Volume growth in a business with operating leverage produces disproportionate profit; price growth in an inflationary year may be no growth at all in real terms; growth bought through acquisition consumed capital that has to earn a return.

Companies disclose enough to separate at least volume from price in most sectors, and the ones that do not have made a choice.

Ask which of the six before extrapolating any of it.