Performance Divergence and Financial Distress of Selected Steel Companies In India
Journal Title: International Journal of Mechanical and Production Engineering Research and Development (IJMPERD ) - Year 2017, Vol 7, Issue 5
Abstract
There is a surge in the Steel industry, due to cyclical economic factors like the slowdown in economic growth, along with its structural challenges, which refers to excess capacity in its production. At the outset, the contribution of the steel industry to GDP is about 7%, which almost ranked next to China, in world context. But, these rates are an average (3.3%) to the world’s GDP rate. In spite of the growth favor to the Indian Steel sector, there is a boomerang to the steel sector of tax policy. GST was not increased by any customs duty for finished products, but, raw materials are attracting import duty of 2.5%. Firstly, it is to be subdued, very soon. A comparative growth of other core sectors is also the prime influencing factor, for simultaneous growth of steel sector. Emerging markets are also very less for steel industry. Growth prospects are more favorable to Indian Steel industry; still there is a need of reform changes with global perspectives. Competition persists always, between existing companies. There will be a less probability of new emerge of steel company, as its investment is too high. This paper highlights the possibilities of industrial sickness, among selected steel industries, in India.
Authors and Affiliations
S. Ranjithkumar
Keywords
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