Review of Literature Gowri

REVIEW OF LITERATURE
Pai,Vadivel & Kamala (1995)” A study about the diversified companies and financial
performance”. Main purpose of research was found out the relationship between diversified
firms and their financial performance. For the purpose of research, they have selected seven large
firms and analyzed those firm which having different products-both related and otherwise-in
their portfolio and operating in diverse industries. In this study, a set of performance measures /
ratios was employed to determine the level of financial performance and variation in
performance from one firm to another has been observed and statistically established. They
revealed that the diversified firms studied have been healthy financial performance.
Brahmbhatt & Desai (1998)” A study of the financial performance of CA analysis”. For the
purpose of analysis they selected sample as pharmaceutical and chemical units in India. In this
research they used some sophisticated computer software as tools of analysis. They selected
seven important financial ratios for the study and also the techniques of correspondence analysis
(CA) as well as ASYMOFACE were employed to study the association between ratios, among
companies and also amid companies. All sample units were ranked using computer-aided
techniques.
Sidhu & Bhatia (1998)” A study the factors affecting profitability in Indian textile
industry”. In this study, they tried to identify the major determinants of profitability in Indian
textile industry with the help of empirical data taken from Bombay Stock Exchange Directory for
the year 1983. To find out the affecting factors of profitability, regression analysis had been
applied by them. From the analysis, they concluded that there was no clear-cut relationship
between current profitability and capital intensity. They also revealed that the age of the firm was
having generally negative but statistically insignificant relationship with current profitability
which points towards the fact firms in Indian textile industry were absolute and need
modernization.
Aggarwal & Singla (2001) “A study about developed a single index of financial
performance” through the technique of Multiple Discriminate Analysis (MDA), by selecting 11
ratios and selected ratios used as inputs. For the purpose of analysis they selected only those
ratios, which was relevant in distinguish between profit making units and loss making units in
Indian paper industry. They concluded that, the model has correctly classified 82.14 percent of
units selected as profit making and loss marking. They mentioned in their study the inventory
turnover ratio, interest coverage ratio, net profit to total assets and earnings per share are the
most important indicators of financial performance. Also they suggested suggests that the results
of Multiple
Discriminate Analysis could be used as predictor of future profitability / sickness.
Loundes (2001) analyzed “The Financial performance of Australian Government Trading

Enterprises Pre &Post-Reform” revealed that during the 1990's. Main objectives of the study
was to discover whether there had been any change in the financial performance of government
trading enterprises operating in electricity, gas, water, railways and ports industries as a result of
these changes. He had concluded that that it did not appear to have been a noticeable
enhancement in the financial performance of most of this business, although railways have
improved slightly, from a low base. He has suggested several measures introduced to improve
the efficiency and financial performance of government trading enterprises in Australia.
Reddy & Padma (2005) “A study of financial performance of pre and post mergers” it have
been made discussed about the impact of mergers on corporate performance. They have
compared the pre and post-merger operating performance of the corporations involved in merger
to identify their financial characteristics. They explained their views on based of empirical
research on share price performance and suggested that acquiring firm generally earns positive
returns previous to declaration, but less than the market portfolio in the post liberalizations
period in general and analysis of the pre and post-merger operating performance of the acquiring
firm.
Seshaiah et.al. (2006), “Production Structure of the Indian Textile Industry “. He observed
that pre-liberalization growth in productivity was more than that of post-liberalization. He found
the entrepreneurial skill ratio as very low and sometime negative during the study period which
is none of the factors that influenced productivity.
IDHAYAJOTHI (2010)) “The performance analyzed in liquidity, solvency, and managerial
efficiency volume “The performance of textiles companies based on their liquidity, solvency,
profitability and managerial efficiency. It is concluded that there is a significant difference
between return on capital employed, net profit margin, current ratio, debt equity and fixed
turnover ratio.
Virambhai (2010) “A textile industry productivity and financial efficiency “focused on
industries current position and its performance. It concluded the company/management should
try to increase the production, minimize the cost and operating expenses, exercise proper control
on liquidity position, reduction of power, fuel, borrowing funds, overheads, interest burden.
Marimuthu, K.N (2012) “Financial performance of Textile industry” A study of listed
company of Tamil Nadu” states that Coimbatore is known as Manchester of South India. 76% of
India's total textile market is from Erode (Tex-City or Loom-City of India) and 56% of knitwear
exports come from Tirupur. Each company could invest on the basis of current performance
compared with previous year or with other company. Decision making, additional investment,
liquidity position changes in working capital depend upon the performance & return of company
reports.
SRINIVASAN SURAJ (2010)”A study on financial statements of manager’s” made an
investigation to check whether the special items presented by the managers’ in the financial
Statements reflected in the economic performance or opportunism.
PAZARSKISETAL (2011) “A study on financial performance of merger and acquisition’s”

empirically examine the impact of merger and acquisitions on the Post-merger performance of
Greek merger-involved firms in the long-run perspective. The post-merger performance of an
extensive sample of acquiring listed firms is investigated with accounting data analysis. For the
purpose of the study, an explanatory set of 24 financial ratios (divided into five main groups) is
employed, in order to measure firms' post-merger performance.
Rakesh and Kulkarni (2012) “A study of financial performance ratios” analyzed the Gujarat
textile industry working capital evaluation on selected five company for the eleven years and
performed ratio analyze-sis, descriptive statistics etc. The study concluded with all the company
financial performance with sound effective as well as current and quick ratio, current asset on
sales, turnover etc. are analyzed with the help of hypothesis and used ANOVA. In this research
also researcher followed this attributes.
RATISHKAKKAD (2012) “Comparative Financial statement Analysis & Innovation in

Private sector Pharmaceutical Companies in India-An empirical Analysis “stated that, this
article is a comparison of the performances of two pharmaceutical firms which had brand image.
Author of this article had concentrated on the performance and growth of the firms due to large
scope for the growth of pharmaceutical industries in India because of huge population who are
dependent on pharmacy.
GAUR JIGHYASU (2014)”A study on the relationship of Intellectual capital and finance
performances” focuses on the measurement of financial performance of business group
companies of non-metallic mineral products industries of India. This study uses the 57 business
group companies’ financial data of non-metallic mineral products industries of India such as
glass, cement, jewelry and gems, ceramic tiles, refractories etc.
KUMAR &KAUR GURBACHAN (2016) “This study reveals the prosperity of textiles and
Growth of firm volume” This study reveals the prosperity of Textiles Company. It can be
concluded that inner strength of company is remarkable. Company can further improves its
profitability by optimum capital gearing, reduction in administration and financial expenses for
the growth of the company.
KOTHIWALE J.S (2017)” A study of cotton textiles financial performance in Gokak “He
concluded that, the wages paid to the workers were not sufficient. The most number of workers
are temporary, except one or two units, there are not facilities like provident fund, medical aid
etc. this also creates problem of non-availability of trained labor force.

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REVIEW OF LITERATURE

Loundes (2001) analyzed “The Financial performance of Australian Government Trading

PAZARSKISETAL (2011) “A study on financial performance of merger and acquisition’s”

RATISHKAKKAD (2012) “Comparative Financial statement Analysis & Innovation in

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