Performance Efficiency of Engineering Industries in India

Abstract

Purpose of the study: To critically analyse 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 analysed with the help of different accounting and statistical tools. Discriminant analysis has been adopted for analysing and interpreting the quantitative data was carried out using SPSS. Findings: The study reveals 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 to 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.