Open AccessPerformance Efficiency of Engineering Industries in India
Author(s) -
Balamurugan Muthuraman
Publication year - 2020
Publication title -
international journal of research in entrepreneurship and business studies
Language(s) - English
Resource type - Journals
ISSN - 2708-8006
DOI - 10.47259/ijrebs.125
Subject(s) - modernization theory , originality , profit margin , profit (economics) , financial ratio , industrial organization , business , engineering , marketing , accounting , economics , economic growth , creativity , political science , law , microeconomics
Purpose of the study: To critically analyze the financial growth pattern and the overall performance efficiency of industrial machinery companies in India. Design/Methodology/Approach: The data collected from the financial statement of the companies for 10 years from 2007-2008 to 2016-17 were analyzed with the help of different accounting and statistical tools. Discriminant analysis has been adopted for analyzing and interpreting the quantitative data was carried out using SPSS. Findings: The study revealed that good performance efficiency of the engineering industry over the period 2007-2017, most Indian engineering industries exist with high net profit. The poor performance companies need of the hour to increase profit by reducing costs.Practical Implications: The study has interesting policy implications. It is recommended to encourage foreign banks' presence to enhance the competitive condition of the banking sector thus making sure the exit and entrance of banks in the industry raise the competition. The pursuit of modernization, in fully hardening the resources of information technology should be relentless. It is a field that demands great attention and expertise. Originality/value: This research work is one of its first kind as no study was conducted before focusing on the performance perspectives of the engineering industries in India. Keywords: Financial Performance, Engineering industries in India, Financial statement analysis, Modernization, Discriminate Analysis