Financial Performance of Textile Industry in Tamilnadu with Special Reference to Coimbatore – A Study of Working Capital Management
Journal Title: Scholars Journal of Economics, Business and Management - Year 2014, Vol 1, Issue 3
Abstract
The study analysed the working capital management of five textile companies in Coimbatore for the study period of ten years from 2003-04 to 2012-13. It mainly used ratio analysis as financial tools. The study found that current ratio of Lakshmi Mills Ltd., Bannari Amman Spinning Mills Ltd., and Gangotri Textiles Ltd. were good. Liquidity ratio of any company was not satisfactory. Absolute liquid ratio of the selected companies did not have the ratio as per the standard norm in any year of the study period. Ambika Cotton Mills Ltd. and KG Denim Ltd. did not have satisfactory level of cash position ratio in any year of the study period. Inventory conversion period was good for Gangotri Textiles Ltd. followed by KG Denim Ltd. It was poor for Ambika Cotton Mills Ltd. Collection management was efficient for Ambika Cotton Mills Ltd. followed by Bannari Amman Spinning Mills Ltd. It was not satisfactory for Gangotri Textiles Ltd. Average payment period of Ambika Cotton Mills Ltd. was higher than any other selected company followed by KG Denim Ltd. It was lower for Gangotri Textiles Ltd. followed by Bannari Amman Spinning Mills Ltd. Cash conversion cycle of Ambika Cotton Mills Ltd. was very short and it was negative for KG denim Ltd. Keywords: capital management, Coimbatore, Cotton Mills, Liquidity ratio.
Authors and Affiliations
R. Subha ,, Dr. N . Ramu
Keywords
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