Working capital is an integral part of overall business finance for the smooth operations of a business enterprise. An optimal management of working capital is one of the pre-conditions for the success of an enterprise. Efficient management of working capital ensures that the business operating cycle keeps moving without any hurdles in terms of payment of liabilities and procurement of raw materials. Efficient management of working capital means management of various components of working capital in such a way that adequate amount of working capital and liquidity is maintained for smooth running of an enterprise. The flow of money gets choked, the supplies are interrupted and payments are delayed in the event of inefficient management of working capital. While inadequate working capital has the potential to disrupt production or sales operation and is a disastrous, excessive working capital has an adverse impact on profitability and is a criminal waste. Management of working capital is regarded as an essential tool of business finance focusing on maintaining optimum levels of both the components viz. current assets and current liabilities. Thus there is an imperative need to manage working capital effectively. In this study, we have selected National Plastic Industries Limited as a sample and taken the financial data for the period of five years from 2006-07 to 2010-11 and studied the effect of different components of working capital
The Effect of Working Capital Management on Profitability of Cement Manufactu...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Working capital management is very fundamental to
the liquidity and profitability of any organization and
the two variables are vital in evaluating the
performance and ultimately deciding the survival of any
organisation. This study presents an empirical investigation of
the relationship between working capital management and
profitability using Nestle Nigeria Plc and Cadbury Nigeria Plc as case studies. The study used correlation and regression analysis to analyze data. Quick ratio was used to measure liquidity, current ratio, trade receivable collection and trade payables payment periods were used as efficiency variables to capture the working capital management policy adopted by these companies
while return on equity was used as the profitability variable.
Liquidity and efficiency variables were correlated against return on equity. The study found a negative relationship between the liquidity, two of the efficiency ratios and return on equity for Nestle Nigeria Plc while it found a positive relationship between the liquidity, efficiency ratios and return on equity of Cadbury Nigeria Plc. To enhance profitable short-term investments, the study recommends that companies should manage their working capital efficiently by upgrading the quality of their assets while
obsolete inventories should be written off.
The document summarizes a research study on human resource planning and business transformation in the apparel industries of Sri Lanka. It provides background on human resource planning and business transformation. The study aims to identify the extent to which apparel industries in Sri Lanka's Eastern Province use human resource planning to transform their businesses. A literature review is presented on human resource planning and business transformation. The conceptual framework shows the relationship between effective human resource planning and successful business transformation. The hypothesis is that better human resource planning is positively related to business transformation. The methodology involved questionnaires distributed to 27 senior managers across 5 apparel companies in the Eastern Province.
MBA PROJECT OF WORKING CAPITAL/ PROJECT REPORT OF WORKING CAPITAL SMU/ SMU FINANCE 4TH SEMESTER PROJECT REPORT ON WARKING CAPITAL/ FREE PROJECT REPORT / SMU FREE PROJECT REPORT ON WORKING CAPITAL MANAGEMENT .... WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 1 A RESEARCH PROJECT REPORT On PULL MAC CRANES INDIA PVT. LTD. Submitted to: SIKKIM MANIPAL UNIVERCITY Master of Business Administration
2. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 2 INDEX TABLE SL.NO CONTENTS PAGE NO. 1 PART – I EXECUTIVE SUMMARY 2 TO 6 2 PART – II INTRODUCTION TO THE STUDY INDUSTRY PROFILE 7 TO 14 3 PART - III INTRODUCTION OF COMPANY 15 TO 35 4 PART - IV RESEARCH METHDOLOGY OBJECTIVES OF THE STUDY 36 TO 39 6 PART - V WORKING CAPITAL MANAGEMENT 40 TO 66 7 PART - VI DATA ANALYSISAND INTERPRETATION 67 TO 85 8 PART – VII FINDINGS SUGGESTIONS & CONCLUSIONS. 86 TO 89 9 ANNEXURE FINANCIALSTATEMENT. BIBILOGROPHY. 90 TO 92
3. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 3 EXECUTIVE SUMMARY INDUSTRYPROFILE. COMPANY PROFILE. NEED FOR THE STUDY. OBJECTIVES OF THE STUDY. SCOPE OF THE STUDY. LIMITATIONS OF THE STUDY. METHODOLOGY. FINDINGS. SUGGESTIONS. CONCLUSION. PART - I
4. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 4 EXECUTIVE SUMMARY Title of the study: “The study of working capital management” As a part of curriculum, every student studying MBA has to undertake a project on a particular subject assigned to him/her. Accordingly I have been assigned the project work on the study of working capital management in PULLMAC CRANES INDIA PRIVATE LIMITED. Decisions relating to working capital (Current assets-Current liabilities) and short term financing are known as working capital management. It involves the relationship between a firm’s short-term assets and its short term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operation and that it has sufficient cash flow to satisfy both maturing short term debt and upcoming operational expenses. Working capital is used in PULLMAC CRANES INDIA PRIVATE LIMITED., for the following purpose:- Raw material, work in progress, finished goods, inventories, sundry debtors, and day to day cash requirements. The PULLMAC CRANES INDIA PRIVATE LIMITED.., keep certain funds which is automatically available to finance the current assets requirements. The
A Comparative Study of Working Capital Management of Selected Paper Companies...RHIMRJ Journal
This research paper describes paper companies is core sector for any of the country. Working Capital Management
has its impact on liquidity as well profitability. The impact on effectiveness and profitability of working capital is tried to find
out by measuring the fluctuation in fixed assets, current assets and sales. The industry plays a vital role in development of
economics of enterprises as well as country. So at this financial appraisal of paper companies will be very useful to many of
its stakeholders. This research paper mainly based on the secondary data. Its main objectives are to evaluate the liquidity
position of the paper companies. For use ratio analysis for accounting tools and statistical tools for getting results like as
average, S.D. C.V. Maximum and Minimum and used One way ANOVA test. Mainly included two ratios in this research
paper like as current ratio and quick ratio.
This document summarizes a study on the impact of capital structure on stock prices in the cement sector of Pakistan. The study uses debt to equity ratio, debt to asset ratio, and interest coverage ratio as independent variables to examine their relationship with stock prices of cement companies. Eleven publicly traded cement companies from 2005 to 2009 were analyzed. The results found a negative relationship between capital structure and stock prices, indicating that higher debt is associated with lower stock prices. The document provides background on Pakistan's cement industry and the objectives of the study, which are to examine how firms structure capital, the relationship between capital structure and stock prices, and implications for investors.
This document provides information about PepsiCo India. It discusses that PepsiCo is a global food and beverage company present in over 200 countries. In India, PepsiCo entered in 1988 and now has 43 bottling plants. It provides details about PepsiCo India such as its CEO, address, products offered, annual sales, and year established in India. The document also summarizes PepsiCo's working capital ratios including receivable, payable, inventory, and current ratios and concludes that PepsiCo has demonstrated strong operating capabilities in India.
The Effect of Working Capital Management on Profitability of Cement Manufactu...iosrjce
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Working capital management is very fundamental to
the liquidity and profitability of any organization and
the two variables are vital in evaluating the
performance and ultimately deciding the survival of any
organisation. This study presents an empirical investigation of
the relationship between working capital management and
profitability using Nestle Nigeria Plc and Cadbury Nigeria Plc as case studies. The study used correlation and regression analysis to analyze data. Quick ratio was used to measure liquidity, current ratio, trade receivable collection and trade payables payment periods were used as efficiency variables to capture the working capital management policy adopted by these companies
while return on equity was used as the profitability variable.
Liquidity and efficiency variables were correlated against return on equity. The study found a negative relationship between the liquidity, two of the efficiency ratios and return on equity for Nestle Nigeria Plc while it found a positive relationship between the liquidity, efficiency ratios and return on equity of Cadbury Nigeria Plc. To enhance profitable short-term investments, the study recommends that companies should manage their working capital efficiently by upgrading the quality of their assets while
obsolete inventories should be written off.
The document summarizes a research study on human resource planning and business transformation in the apparel industries of Sri Lanka. It provides background on human resource planning and business transformation. The study aims to identify the extent to which apparel industries in Sri Lanka's Eastern Province use human resource planning to transform their businesses. A literature review is presented on human resource planning and business transformation. The conceptual framework shows the relationship between effective human resource planning and successful business transformation. The hypothesis is that better human resource planning is positively related to business transformation. The methodology involved questionnaires distributed to 27 senior managers across 5 apparel companies in the Eastern Province.
MBA PROJECT OF WORKING CAPITAL/ PROJECT REPORT OF WORKING CAPITAL SMU/ SMU FINANCE 4TH SEMESTER PROJECT REPORT ON WARKING CAPITAL/ FREE PROJECT REPORT / SMU FREE PROJECT REPORT ON WORKING CAPITAL MANAGEMENT .... WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 1 A RESEARCH PROJECT REPORT On PULL MAC CRANES INDIA PVT. LTD. Submitted to: SIKKIM MANIPAL UNIVERCITY Master of Business Administration
2. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 2 INDEX TABLE SL.NO CONTENTS PAGE NO. 1 PART – I EXECUTIVE SUMMARY 2 TO 6 2 PART – II INTRODUCTION TO THE STUDY INDUSTRY PROFILE 7 TO 14 3 PART - III INTRODUCTION OF COMPANY 15 TO 35 4 PART - IV RESEARCH METHDOLOGY OBJECTIVES OF THE STUDY 36 TO 39 6 PART - V WORKING CAPITAL MANAGEMENT 40 TO 66 7 PART - VI DATA ANALYSISAND INTERPRETATION 67 TO 85 8 PART – VII FINDINGS SUGGESTIONS & CONCLUSIONS. 86 TO 89 9 ANNEXURE FINANCIALSTATEMENT. BIBILOGROPHY. 90 TO 92
3. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 3 EXECUTIVE SUMMARY INDUSTRYPROFILE. COMPANY PROFILE. NEED FOR THE STUDY. OBJECTIVES OF THE STUDY. SCOPE OF THE STUDY. LIMITATIONS OF THE STUDY. METHODOLOGY. FINDINGS. SUGGESTIONS. CONCLUSION. PART - I
4. WORKING CAPITAL MANAGEMENTOF PULLMAC CRANES INDIA PVTLTD, GHAZIABAD, UP, INDIA 4 EXECUTIVE SUMMARY Title of the study: “The study of working capital management” As a part of curriculum, every student studying MBA has to undertake a project on a particular subject assigned to him/her. Accordingly I have been assigned the project work on the study of working capital management in PULLMAC CRANES INDIA PRIVATE LIMITED. Decisions relating to working capital (Current assets-Current liabilities) and short term financing are known as working capital management. It involves the relationship between a firm’s short-term assets and its short term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operation and that it has sufficient cash flow to satisfy both maturing short term debt and upcoming operational expenses. Working capital is used in PULLMAC CRANES INDIA PRIVATE LIMITED., for the following purpose:- Raw material, work in progress, finished goods, inventories, sundry debtors, and day to day cash requirements. The PULLMAC CRANES INDIA PRIVATE LIMITED.., keep certain funds which is automatically available to finance the current assets requirements. The
A Comparative Study of Working Capital Management of Selected Paper Companies...RHIMRJ Journal
This research paper describes paper companies is core sector for any of the country. Working Capital Management
has its impact on liquidity as well profitability. The impact on effectiveness and profitability of working capital is tried to find
out by measuring the fluctuation in fixed assets, current assets and sales. The industry plays a vital role in development of
economics of enterprises as well as country. So at this financial appraisal of paper companies will be very useful to many of
its stakeholders. This research paper mainly based on the secondary data. Its main objectives are to evaluate the liquidity
position of the paper companies. For use ratio analysis for accounting tools and statistical tools for getting results like as
average, S.D. C.V. Maximum and Minimum and used One way ANOVA test. Mainly included two ratios in this research
paper like as current ratio and quick ratio.
This document summarizes a study on the impact of capital structure on stock prices in the cement sector of Pakistan. The study uses debt to equity ratio, debt to asset ratio, and interest coverage ratio as independent variables to examine their relationship with stock prices of cement companies. Eleven publicly traded cement companies from 2005 to 2009 were analyzed. The results found a negative relationship between capital structure and stock prices, indicating that higher debt is associated with lower stock prices. The document provides background on Pakistan's cement industry and the objectives of the study, which are to examine how firms structure capital, the relationship between capital structure and stock prices, and implications for investors.
This document provides information about PepsiCo India. It discusses that PepsiCo is a global food and beverage company present in over 200 countries. In India, PepsiCo entered in 1988 and now has 43 bottling plants. It provides details about PepsiCo India such as its CEO, address, products offered, annual sales, and year established in India. The document also summarizes PepsiCo's working capital ratios including receivable, payable, inventory, and current ratios and concludes that PepsiCo has demonstrated strong operating capabilities in India.
This document provides background information on the steel industry. It discusses the history of steel production dating back to ancient China. It then discusses the global steel industry, noting recent years of growth in supply and demand. For the Indian steel industry, it outlines the development of major steel plants after independence, with Steel Authority of India (SAIL) now accounting for over 40% of production. It positions steel as crucial for modern development and notes India's steel industry is growing to meet rising domestic and export demand from key sectors.
11.0001www.iiste.org call for paper.firm level determinantsAlexander Decker
This document summarizes a study that aimed to determine factors contributing to entrepreneurial success at the firm level. The researchers conducted a questionnaire survey using snowball sampling to collect data from firms in Bahawalpur, Pakistan. The results of chi-square tests suggested that four dimensions of firm performance - innovation, organization structure, technology, and risk-taking - have a strong impact on firm performance. The limitations included the small sample size and geographic scope. The findings can help managers focus on these dimensions and related variables to improve performance and entrepreneurial success.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
• Analyzing every customer's aims, objectives and purpose of research
• Using advanced and latest tools and technique of research and analysis
• Coordinating and including their own ideas and knowledge
• Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Our Achievements:
• NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
• GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
• NOMINATED FOR BEST MSME AWARDS 2017
• 5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
Subjects/Areas We Cover:
Management, Commerce, Finance, Marketing, Psychology, Education, Sociology, Mass communications, English Literature, English Language, Law, History, Computer Science & Engineering, Electronics & Communication Engineering, Mechanical Engineering, Civil Engineering, Electrical Engineering, Pharmacy & Healthcare.
This document summarizes a study that examined the effect of financial performance on the stock price of PT. Unilever Indonesia, Tbk from 2011-2018. Financial performance was measured using current ratio, earnings per share, and return on equity. The study found that these financial performance variables together had a significant influence on stock price. PT. Unilever Indonesia, Tbk should increase current ratio, earnings per share, and return on equity to generate higher stock prices. Further research on other consumer goods companies is also recommended.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Bhansali Trailers Pvt Ltd is an Indian manufacturing company established in 1968 that produces trailers and other agriculture implements, with its head office located in Ahemadnagar, Maharashtra. The company operates branches across India and is part of the larger Bhansali Group conglomerate. Bhansali Trailers focuses on designing and manufacturing high quality trailers and equipment to support the agricultural industry in India.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
This document summarizes a research paper on efficient working capital management and its importance for corporate survival and growth. The paper examines how working capital, including current assets and current liabilities, must be efficiently managed to ensure companies can meet daily financial obligations and remain competitive. Inefficient working capital management can lead to excess inventory, inability to pay bills on time, and idle cash. The paper recommends that financial managers understand sources of working capital and opportunities to temporarily invest idle funds. When companies efficiently manage working capital, they have greater chances of long-term profitability and liquidity.
Working capital analysis in rajasthan financial corporationTapasya123
Working Capital management is concerned with the problems that arise
in attempting to manage current assets, current liabilities and
interrelationship that exists in between them. The success of an
organisation to a greater extent depends upon the effective management
of working capital. It guarantees financial soundness of organisation and
therefore keeps it away from sickness zone. This study is a modest attempt
in this direction by undertaking a study of working capital management.
Through present study researcher has tried to examine sources used by
Rajasthan Financial Corporation to finance their working capital
requirements and to analyse and evaluate working capital management.
The paper has also examined the liquidity position of Rajasthan Financial
Corporation. In order to examine and analyse, financial statements of
Rajasthan Financial Corporation are collected for the period of five years
from 2009- 2014 and ratio analysis was conducted and analysed to check
the working capital conditions of Rajasthan Financial Corporation.
A study on Working Capital Management for Aditya Birla Chemical Ltd.” Rehla J...Rahul Verma
This project is mainy based on financial analysis(cash flow statement,Balance sheet and P&L Account).
To analyze the activity ratio of the company.
To analyze the liquidity ratio of the company.
Working Capital management is concerned with the problems that arise
in attempting to manage current assets, current liabilities and
interrelationship that exists in between them. The success of an
organisation to a greater extent depends upon the effective management
of working capital. It guarantees financial soundness of organisation and
therefore keeps it away from sickness zone. This study is a modest attempt
in this direction by undertaking a study of working capital management.
Through present study researcher has tried to examine sources used by
Rajasthan Financial Corporation to finance their working capital
requirements and to analyse and evaluate working capital management.
The paper has also examined the liquidity position of Rajasthan Financial
Corporation. In order to examine and analyse, financial statements of
Rajasthan Financial Corporation are collected for the period of five years
from 2009- 2014 and ratio analysis was conducted and analysed to check
the working capital conditions of Rajasthan Financial Corporation.
Keywords: Ratio Analysis, Liquidity, Investment,
This document summarizes a research paper that examines trends in working capital management and its impact on the performance of small manufacturing firms in Mauritius. It discusses how working capital management is important for business liquidity and profitability. The paper aims to analyze the relationship between working capital metrics like inventory days, receivables days, payables days, and cash conversion cycle on the profitability of 58 small manufacturing firms in Mauritius from 1998-2003. Specifically, it finds that higher investment in inventory and receivables is associated with lower profitability.
This document provides an overview of financial management. It discusses how financial management has evolved from traditional accounting approaches to take on more innovative and multi-dimensional functions in business. Financial management encompasses areas like corporate finance, business finance, financial economics, and financial engineering. Understanding basic financial management concepts is important for students of economics, commerce, and management. The document also outlines the contents of textbook chapters on topics in financial management like financial statements, sources of financing, capitalization, capital structure, cost of capital, leverage, dividend decisions, capital budgeting, working capital, and working capital management.
The document summarizes the author's summer training project analyzing working capital management at CG Cement Pvt. Ltd. It includes acknowledgments to those who supported and guided the project. The preface outlines the study's aim to analyze CG Cement's working capital management using ratio analysis, trend analysis, and common-size analysis of 3 years of financial data. The executive summary provides an overview of the importance of working capital management and the study's objective to evaluate CG Cement's management of working capital and ability to meet short-term obligations.
Working capital management project report mbaBabasab Patil
This document provides an index and executive summary of a study on the working capital management of Bahety Chemicals & Minerals Pvt Ltd, located in Dandeli, India. The study examines the company's working capital over a five year period from 2006-2010. Key findings include that the company's working capital and profits have increased each year, and it maintains current and quick ratios above standard requirements, indicating a satisfactory level of working capital management and liquidity. The document outlines the objectives, scope, limitations and methodology of the study.
This document provides background information on working capital management and OPTCL, the organization being studied. It introduces OPTCL as a large power transmission organization in India and discusses the importance of working capital management. The objectives, hypotheses and limitations of the study are outlined. It also provides an overview of OPTCL, including its vision, mission and role in the power sector of Orissa. The document establishes the relevance of studying working capital management at OPTCL and sets up the structure for the rest of the report.
This document is a project report submitted by Jibin Babu to the Indian Institute of Planning and Management on working capital management at Lamiya Silks in Thrissur, Kerala from April to May 2012. It includes an acknowledgements section, table of contents, executive summary, and sections on the introduction to working capital, research methodology, company and industry overview, internship activities, assessment, conclusion, illustrations, and bibliography. The major purpose is to analyze Lamiya Silks' working capital management through evaluating annual reports and financial statements.
The document provides background information on three businesses - Jakhar Granites, Sweet Memories cafe and restaurant, and Studio Eleven parlour. It summarizes their establishment dates and key products or services. It then outlines the objectives, scope, and limitations of a study being conducted on working capital management.
IOSR Journal of Business and Management (IOSR-JBM) is an open access international journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
This document is a project report submitted by Jibin Babu to the Indian Institute of Planning and Management on working capital management at Lamiya Silks in Thrissur, Kerala from April to May 2012. It includes an acknowledgements section, table of contents, executive summary, and sections on the introduction to working capital, research methodology, company and industry overview, internship activities, assessment, conclusion, illustrations, and bibliography. The major purpose is to analyze Lamiya Silks' working capital management through evaluating annual reports and financial statements.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
The document summarizes a research paper on efficient working capital management as a prerequisite for corporate survival and growth. It discusses how working capital, consisting of current assets like cash, accounts receivable, inventory, and current liabilities, must be efficiently managed for a company to continue operating and growing over time. The researchers examined different aspects of working capital management, including inventory management, accounts receivable, cash position, and suggested measures to improve efficiency. Their findings showed that inefficient working capital management can lead to issues like excess inventory, inability to pay bills, and unproductive cash that hurts a company's survival and growth.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
The document summarizes a research paper on efficient working capital management as a prerequisite for corporate survival and growth. It discusses how working capital, consisting of current assets like cash, accounts receivable, inventory, and current liabilities, must be efficiently managed for a company to continue operating and growing over time. The paper examines different aspects of working capital management, including reducing inventory levels, speeding up accounts receivable collections, and slowing payment terms for suppliers. It recommends that companies analyze factors like demand patterns and supplier lead times to optimize inventory and improve cash flow through better alignment of costs and customer payments.
This document provides background information on the steel industry. It discusses the history of steel production dating back to ancient China. It then discusses the global steel industry, noting recent years of growth in supply and demand. For the Indian steel industry, it outlines the development of major steel plants after independence, with Steel Authority of India (SAIL) now accounting for over 40% of production. It positions steel as crucial for modern development and notes India's steel industry is growing to meet rising domestic and export demand from key sectors.
11.0001www.iiste.org call for paper.firm level determinantsAlexander Decker
This document summarizes a study that aimed to determine factors contributing to entrepreneurial success at the firm level. The researchers conducted a questionnaire survey using snowball sampling to collect data from firms in Bahawalpur, Pakistan. The results of chi-square tests suggested that four dimensions of firm performance - innovation, organization structure, technology, and risk-taking - have a strong impact on firm performance. The limitations included the small sample size and geographic scope. The findings can help managers focus on these dimensions and related variables to improve performance and entrepreneurial success.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
• Analyzing every customer's aims, objectives and purpose of research
• Using advanced and latest tools and technique of research and analysis
• Coordinating and including their own ideas and knowledge
• Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Our Achievements:
• NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
• GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
• NOMINATED FOR BEST MSME AWARDS 2017
• 5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
Subjects/Areas We Cover:
Management, Commerce, Finance, Marketing, Psychology, Education, Sociology, Mass communications, English Literature, English Language, Law, History, Computer Science & Engineering, Electronics & Communication Engineering, Mechanical Engineering, Civil Engineering, Electrical Engineering, Pharmacy & Healthcare.
This document summarizes a study that examined the effect of financial performance on the stock price of PT. Unilever Indonesia, Tbk from 2011-2018. Financial performance was measured using current ratio, earnings per share, and return on equity. The study found that these financial performance variables together had a significant influence on stock price. PT. Unilever Indonesia, Tbk should increase current ratio, earnings per share, and return on equity to generate higher stock prices. Further research on other consumer goods companies is also recommended.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Bhansali Trailers Pvt Ltd is an Indian manufacturing company established in 1968 that produces trailers and other agriculture implements, with its head office located in Ahemadnagar, Maharashtra. The company operates branches across India and is part of the larger Bhansali Group conglomerate. Bhansali Trailers focuses on designing and manufacturing high quality trailers and equipment to support the agricultural industry in India.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
This document summarizes a research paper on efficient working capital management and its importance for corporate survival and growth. The paper examines how working capital, including current assets and current liabilities, must be efficiently managed to ensure companies can meet daily financial obligations and remain competitive. Inefficient working capital management can lead to excess inventory, inability to pay bills on time, and idle cash. The paper recommends that financial managers understand sources of working capital and opportunities to temporarily invest idle funds. When companies efficiently manage working capital, they have greater chances of long-term profitability and liquidity.
Working capital analysis in rajasthan financial corporationTapasya123
Working Capital management is concerned with the problems that arise
in attempting to manage current assets, current liabilities and
interrelationship that exists in between them. The success of an
organisation to a greater extent depends upon the effective management
of working capital. It guarantees financial soundness of organisation and
therefore keeps it away from sickness zone. This study is a modest attempt
in this direction by undertaking a study of working capital management.
Through present study researcher has tried to examine sources used by
Rajasthan Financial Corporation to finance their working capital
requirements and to analyse and evaluate working capital management.
The paper has also examined the liquidity position of Rajasthan Financial
Corporation. In order to examine and analyse, financial statements of
Rajasthan Financial Corporation are collected for the period of five years
from 2009- 2014 and ratio analysis was conducted and analysed to check
the working capital conditions of Rajasthan Financial Corporation.
A study on Working Capital Management for Aditya Birla Chemical Ltd.” Rehla J...Rahul Verma
This project is mainy based on financial analysis(cash flow statement,Balance sheet and P&L Account).
To analyze the activity ratio of the company.
To analyze the liquidity ratio of the company.
Working Capital management is concerned with the problems that arise
in attempting to manage current assets, current liabilities and
interrelationship that exists in between them. The success of an
organisation to a greater extent depends upon the effective management
of working capital. It guarantees financial soundness of organisation and
therefore keeps it away from sickness zone. This study is a modest attempt
in this direction by undertaking a study of working capital management.
Through present study researcher has tried to examine sources used by
Rajasthan Financial Corporation to finance their working capital
requirements and to analyse and evaluate working capital management.
The paper has also examined the liquidity position of Rajasthan Financial
Corporation. In order to examine and analyse, financial statements of
Rajasthan Financial Corporation are collected for the period of five years
from 2009- 2014 and ratio analysis was conducted and analysed to check
the working capital conditions of Rajasthan Financial Corporation.
Keywords: Ratio Analysis, Liquidity, Investment,
This document summarizes a research paper that examines trends in working capital management and its impact on the performance of small manufacturing firms in Mauritius. It discusses how working capital management is important for business liquidity and profitability. The paper aims to analyze the relationship between working capital metrics like inventory days, receivables days, payables days, and cash conversion cycle on the profitability of 58 small manufacturing firms in Mauritius from 1998-2003. Specifically, it finds that higher investment in inventory and receivables is associated with lower profitability.
This document provides an overview of financial management. It discusses how financial management has evolved from traditional accounting approaches to take on more innovative and multi-dimensional functions in business. Financial management encompasses areas like corporate finance, business finance, financial economics, and financial engineering. Understanding basic financial management concepts is important for students of economics, commerce, and management. The document also outlines the contents of textbook chapters on topics in financial management like financial statements, sources of financing, capitalization, capital structure, cost of capital, leverage, dividend decisions, capital budgeting, working capital, and working capital management.
The document summarizes the author's summer training project analyzing working capital management at CG Cement Pvt. Ltd. It includes acknowledgments to those who supported and guided the project. The preface outlines the study's aim to analyze CG Cement's working capital management using ratio analysis, trend analysis, and common-size analysis of 3 years of financial data. The executive summary provides an overview of the importance of working capital management and the study's objective to evaluate CG Cement's management of working capital and ability to meet short-term obligations.
Working capital management project report mbaBabasab Patil
This document provides an index and executive summary of a study on the working capital management of Bahety Chemicals & Minerals Pvt Ltd, located in Dandeli, India. The study examines the company's working capital over a five year period from 2006-2010. Key findings include that the company's working capital and profits have increased each year, and it maintains current and quick ratios above standard requirements, indicating a satisfactory level of working capital management and liquidity. The document outlines the objectives, scope, limitations and methodology of the study.
This document provides background information on working capital management and OPTCL, the organization being studied. It introduces OPTCL as a large power transmission organization in India and discusses the importance of working capital management. The objectives, hypotheses and limitations of the study are outlined. It also provides an overview of OPTCL, including its vision, mission and role in the power sector of Orissa. The document establishes the relevance of studying working capital management at OPTCL and sets up the structure for the rest of the report.
This document is a project report submitted by Jibin Babu to the Indian Institute of Planning and Management on working capital management at Lamiya Silks in Thrissur, Kerala from April to May 2012. It includes an acknowledgements section, table of contents, executive summary, and sections on the introduction to working capital, research methodology, company and industry overview, internship activities, assessment, conclusion, illustrations, and bibliography. The major purpose is to analyze Lamiya Silks' working capital management through evaluating annual reports and financial statements.
The document provides background information on three businesses - Jakhar Granites, Sweet Memories cafe and restaurant, and Studio Eleven parlour. It summarizes their establishment dates and key products or services. It then outlines the objectives, scope, and limitations of a study being conducted on working capital management.
IOSR Journal of Business and Management (IOSR-JBM) is an open access international journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
This document is a project report submitted by Jibin Babu to the Indian Institute of Planning and Management on working capital management at Lamiya Silks in Thrissur, Kerala from April to May 2012. It includes an acknowledgements section, table of contents, executive summary, and sections on the introduction to working capital, research methodology, company and industry overview, internship activities, assessment, conclusion, illustrations, and bibliography. The major purpose is to analyze Lamiya Silks' working capital management through evaluating annual reports and financial statements.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
The document summarizes a research paper on efficient working capital management as a prerequisite for corporate survival and growth. It discusses how working capital, consisting of current assets like cash, accounts receivable, inventory, and current liabilities, must be efficiently managed for a company to continue operating and growing over time. The researchers examined different aspects of working capital management, including inventory management, accounts receivable, cash position, and suggested measures to improve efficiency. Their findings showed that inefficient working capital management can lead to issues like excess inventory, inability to pay bills, and unproductive cash that hurts a company's survival and growth.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
The document summarizes a research paper on efficient working capital management as a prerequisite for corporate survival and growth. It discusses how working capital, consisting of current assets like cash, accounts receivable, inventory, and current liabilities, must be efficiently managed for a company to continue operating and growing over time. The paper examines different aspects of working capital management, including reducing inventory levels, speeding up accounts receivable collections, and slowing payment terms for suppliers. It recommends that companies analyze factors like demand patterns and supplier lead times to optimize inventory and improve cash flow through better alignment of costs and customer payments.
Nwankwo, odi an empirical analysis of corporate survival and growth ijsaid ...William Kritsonis
NATIONAL FORUM JOURNALS (Founded 1982 (www.nationalforum.com) is a group of national and international refereed journals. NFJ publishes articles on colleges, universities and schools; management, business and administration; academic scholarship, multicultural issues; schooling; special education; counseling and addiction, international issues; education; organizational theory and behavior; educational leadership and supervision; action and applied research; teacher education; race, gender, society; public school law; philosophy and history; psychology, and much more. Dr. William Allan Kritsonis, Editor-in-Chief.
A study of working capital management at shree someshwar co operative sugar...Sushil Gaikwad
This document appears to be a project report submitted to Savitribai Phule Pune University on a study of working capital management at Shri Someshwar Sahakari Sakhar Karkhana Ltd. The report includes an introduction, organization profile, research methodology, data analysis and interpretation, findings, suggestions, and conclusion. It was submitted by Pravin Dattatray Jaypatre under the guidance of his professor to fulfill the requirements for a Master of Business Administration degree. The report aims to comprehensively evaluate the inventory, receivables, creditors and cash management practices at Shri Someshwar Sahakari Sakhar Karkhana Ltd. through the analysis of financial ratios over a five year period.
“The study of working capital management and its performance for Internationa...rajeshmandal01
The document provides an executive summary and introduction to a study on working capital management at International Tyre Secure Pvt Ltd. It discusses that the goal of working capital management is to ensure the firm has sufficient cash flow to meet short-term debts and expenses. It also provides background on the chemical industry in India and an overview of International Tyre Secure Pvt Ltd, including its establishment, products, facilities and operations.
Application of capital structure in creating valueAlexander Decker
This document discusses the application of capital structure in creating value and growth for firms in Nigeria. It begins with an abstract that outlines the challenges firms face in maximizing profits and dealing with global economic insecurity. The study examined how effective capital structure and value creation can stimulate firm growth. Questionnaires were used to collect data, which was analyzed using statistical tools. The results showed that judicious use of capital financing is significant in value creation and growth. The document recommends stakeholders provide security through partnerships to guarantee investment safety and long-term corporate value enhancement. The introduction discusses how capital structure influences shareholder returns and risk through impacting debt-equity mix, cost of capital, and firm value. Capital structure is an important managerial decision that
Working capital management of maharashtra bankDharmik
This document contains a student's declaration for a project on working capital management at Maharashtra Bank. It includes a declaration by the student Ekta Bid that the information submitted is true and original. It also includes a certificate from the project guide, Professor Nishikant Jha, certifying that Ekta completed the project. Ekta acknowledges and thanks Professor Jha and her friends for their support and guidance during the project.
1) The document discusses a study that analyzes the effect of working capital and sales volume on profitability in Micro, Small and Medium Enterprises (MSMEs) in Pangkep Regency, Indonesia.
2) The study uses a quantitative descriptive approach with data collected from 80 MSMEs in the region.
3) The results show that working capital has a negative but not significant effect on profitability, while sales volume has a positive and significant effect. Working capital and sales volume together have a significant effect on profitability, explaining 92.4% of the determination value.
Study on Working Capital Management at PNBProjects Kart
The prime objective of any business is to maximize the value of the company and to maximize the wealth of its shareholders. Working capital management has its own role to play in attaining this goal. Working capital is the funds required for day to day working in a business concern. The working capital management involves deciding upon the amount and composition of current assets and how to finance those assets. There should be a proper trade off between risk and profitability in each decision relating to it. This project work has been undertaken to know the procedures involved in the working capital management in PUNJAB NATIONAL BANK. An attempt is made to study the factors contributing towards working capital and the sources on which the company is depending for funds. The research study was also conducted to derive working capital ratios, to know the performance and efficiency of working capital management and to know the kind of policy adopted in this part of the management. For analyzing the factors and conditions influencing working capital tables and graphs were drawn based on the study. pubjab national bank mba project, summer internship 2017, project reprot, punjab national bank pdf, risk, project report pdf, project report, customer satisfaction in punjab national bank
This document provides an overview of a project report on working capital management at Odisha Power Transmission Corporation Limited (OPTCL). It includes an acknowledgement section thanking those who assisted and guided the project. It also includes declarations certifying that the project was completed and meets requirements for a PGDM program. The project report contains 6 chapters which will analyze OPTCL's working capital ratios from 2009-2013, components of working capital, and make recommendations. Efficient working capital management is important for OPTCL to reduce costs and increase profits while maintaining operations and meeting obligations.
A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tadaijtsrd
Finance is the lifeblood of every business activity without which the wheels of modern business organization system cannot be greased. Finance management is managerial activity, which is concerned with planning and controlling of the firms financial Resources. Finance is a scarce resource and it has to be managed efficiency for the successful functioning of any company. Several companies have come to grief mainly because of inefficient management of finance, in spite of other favourable conditions. This study explains the funds flow statement analysis of vital pvt. Ltd., Tada. R. Yugandhar | Dr. K. Haritha "A Study on Funds Flow Analysis of Vital Pvt. Ltd., Tada" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52025.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52025/a-study-on-funds-flow-analysis-of-vital-pvt-ltd-tada/r-yugandhar
This document summarizes a research study that examined the relationship between working capital management and financial performance of deposit money banks in Nigeria from 2007 to 2013. The study found a strong positive relationship between current ratio, quick ratio, and return on assets (ROA), while cash ratio was found to be inversely related to ROA. It recommends that banks maintain adequate liquidity through higher current and quick ratios to improve profitability, while reducing the amount of cash held to invest funds and generate higher returns. In general, the study empirically proved that effective working capital management can positively impact the profitability of deposit money banks in Nigeria.
working capitalmgmnt. in air port authorityumesh yadav
This document is a project report submitted by Manoj S. Hule for the Master of Business Administration program at Tilak Maharashtra University. The project examines the working capital management of Airports Authority of India. It includes certificates from the university and Airports Authority of India confirming the project work. The table of contents outlines chapters on the rationale for the study, objectives, company profile, theoretical framework, research methodology, data analysis, findings, limitations and expected contributions. The report aims to analyze the working capital management practices at Airports Authority of India and identify areas for improvement.
- The document is a report submitted to a professor on working capital management at the
University of Dhaka. It includes an executive summary, introduction, company profile, and
sections on accounts payable, inventory, accounts receivable, and cash management.
- The report analyzes the working capital management of Tallu Spinning Mills Ltd. over 5 years
using ratio analysis and comparative balance sheets from annual reports. It aims to evaluate
working capital components, liquidity trends, and use of current assets and liabilities.
- Working capital management involves maintaining adequate but not excessive current assets and
liabilities to ensure liquidity and avoid shortages while maximizing profitability. The report makes
This document summarizes a research study that examined the relationship between working capital management and profitability for non-listed firms in Ghana from 2004-2009. The study used cash conversion cycles and its components (days of receivables, days of inventory, and days of payables) as measures of working capital management. Gross operating profit to total assets was used as the measure of firm performance. The results showed that profitability was negatively related to the length of the cash conversion cycle. Specifically, performance was positively affected by reducing days of receivables and days of inventory. Additionally, firm size, GDP growth, and sales growth positively impacted performance. The study suggests that managers in emerging markets should focus on effective working capital management to improve
Similar to Working Capital Management: An Essential Tool of Business Finance - A Case Study of National Plastic Industries Limited (NPIL) (20)
This document provides a technical review of secure banking using RSA and AES encryption methodologies. It discusses how RSA and AES are commonly used encryption standards for secure data transmission between ATMs and bank servers. The document first provides background on ATM security measures and risks of attacks. It then reviews related work analyzing encryption techniques. The document proposes using a one-time password in addition to a PIN for ATM authentication. It concludes that implementing encryption standards like RSA and AES can make transactions more secure and build trust in online banking.
This document analyzes the performance of various modulation schemes for achieving energy efficient communication over fading channels in wireless sensor networks. It finds that for long transmission distances, low-order modulations like BPSK are optimal due to their lower SNR requirements. However, as transmission distance decreases, higher-order modulations like 16-QAM and 64-QAM become more optimal since they can transmit more bits per symbol, outweighing their higher SNR needs. Simulations show lifetime extensions up to 550% are possible in short-range networks by using higher-order modulations instead of just BPSK. The optimal modulation depends on transmission distance and balancing the energy used by electronic components versus power amplifiers.
This document provides a review of mobility management techniques in vehicular ad hoc networks (VANETs). It discusses three modes of communication in VANETs: vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and hybrid vehicle (HV) communication. For each communication mode, different mobility management schemes are required due to their unique characteristics. The document also discusses mobility management challenges in VANETs and outlines some open research issues in improving mobility management for seamless communication in these dynamic networks.
This document provides a review of different techniques for segmenting brain MRI images to detect tumors. It compares the K-means and Fuzzy C-means clustering algorithms. K-means is an exclusive clustering algorithm that groups data points into distinct clusters, while Fuzzy C-means is an overlapping clustering algorithm that allows data points to belong to multiple clusters. The document finds that Fuzzy C-means requires more time for brain tumor detection compared to other methods like hierarchical clustering or K-means. It also reviews related work applying these clustering algorithms to segment brain MRI images.
1) The document simulates and compares the performance of AODV and DSDV routing protocols in a mobile ad hoc network under three conditions: when users are fixed, when users move towards the base station, and when users move away from the base station.
2) The results show that both protocols have higher packet delivery and lower packet loss when users are either fixed or moving towards the base station, since signal strength is better in those scenarios. Performance degrades when users move away from the base station due to weaker signals.
3) AODV generally has better performance than DSDV, with higher throughput and packet delivery rates observed across the different user mobility conditions.
This document describes the design and implementation of 4-bit QPSK and 256-bit QAM modulation techniques using MATLAB. It compares the two techniques based on SNR, BER, and efficiency. The key steps of implementing each technique in MATLAB are outlined, including generating random bits, modulation, adding noise, and measuring BER. Simulation results show scatter plots and eye diagrams of the modulated signals. A table compares the results, showing that 256-bit QAM provides better performance than 4-bit QPSK. The document concludes that QAM modulation is more effective for digital transmission systems.
The document proposes a hybrid technique using Anisotropic Scale Invariant Feature Transform (A-SIFT) and Robust Ensemble Support Vector Machine (RESVM) to accurately identify faces in images. A-SIFT improves upon traditional SIFT by applying anisotropic scaling to extract richer directional keypoints. Keypoints are processed with RESVM and hypothesis testing to increase accuracy above 95% by repeatedly reprocessing images until the threshold is met. The technique was tested on similar and different facial images and achieved better results than SIFT in retrieval time and reduced keypoints.
This document studies the effects of dielectric superstrate thickness on microstrip patch antenna parameters. Three types of probes-fed patch antennas (rectangular, circular, and square) were designed to operate at 2.4 GHz using Arlondiclad 880 substrate. The antennas were tested with and without an Arlondiclad 880 superstrate of varying thicknesses. It was found that adding a superstrate slightly degraded performance by lowering the resonant frequency and increasing return loss and VSWR, while decreasing bandwidth and gain. Specifically, increasing the superstrate thickness or dielectric constant resulted in greater changes to the antenna parameters.
This document describes a wireless environment monitoring system that utilizes soil energy as a sustainable power source for wireless sensors. The system uses a microbial fuel cell to generate electricity from the microbial activity in soil. Two microbial fuel cells were created using different soil types and various additives to produce different current and voltage outputs. An electronic circuit was designed on a printed circuit board with components like a microcontroller and ZigBee transceiver. Sensors for temperature and humidity were connected to the circuit to monitor the environment wirelessly. The system provides a low-cost way to power remote sensors without needing battery replacement and avoids the high costs of wiring a power source.
1) The document proposes a model for a frequency tunable inverted-F antenna that uses ferrite material.
2) The resonant frequency of the antenna can be significantly shifted from 2.41GHz to 3.15GHz, a 31% shift, by increasing the static magnetic field placed on the ferrite material.
3) Altering the permeability of the ferrite allows tuning of the antenna's resonant frequency without changing the physical dimensions, providing flexibility to operate over a wide frequency range.
This document summarizes a research paper that presents a speech enhancement method using stationary wavelet transform. The method first classifies speech into voiced, unvoiced, and silence regions based on short-time energy. It then applies different thresholding techniques to the wavelet coefficients of each region - modified hard thresholding for voiced speech, semi-soft thresholding for unvoiced speech, and setting coefficients to zero for silence. Experimental results using speech from the TIMIT database corrupted with white Gaussian noise at various SNR levels show improved performance over other popular denoising methods.
This document reviews the design of an energy-optimized wireless sensor node that encrypts data for transmission. It discusses how sensing schemes that group nodes into clusters and transmit aggregated data can reduce energy consumption compared to individual node transmissions. The proposed node design calculates the minimum transmission power needed based on received signal strength and uses a periodic sleep/wake cycle to optimize energy when not sensing or transmitting. It aims to encrypt data at both the node and network level to further optimize energy usage for wireless communication.
This document discusses group consumption modes. It analyzes factors that impact group consumption, including external environmental factors like technological developments enabling new forms of online and offline interactions, as well as internal motivational factors at both the group and individual level. The document then proposes that group consumption modes can be divided into four types based on two dimensions: vertical (group relationship intensity) and horizontal (consumption action period). These four types are instrument-oriented, information-oriented, enjoyment-oriented, and relationship-oriented consumption modes. Finally, the document notes that consumption modes are dynamic and can evolve over time.
The document summarizes a study of different microstrip patch antenna configurations with slotted ground planes. Three antenna designs were proposed and their performance evaluated through simulation: a conventional square patch, an elliptical patch, and a star-shaped patch. All antennas were mounted on an FR4 substrate. The effects of adding different slot patterns to the ground plane on resonance frequency, bandwidth, gain and efficiency were analyzed parametrically. Key findings were that reshaping the patch and adding slots increased bandwidth and shifted resonance frequency. The elliptical and star patches in particular performed better than the conventional design. Three antenna configurations were selected for fabrication and measurement based on the simulations: a conventional patch with a slot under the patch, an elliptical patch with slots
1) The document describes a study conducted to improve call drop rates in a GSM network through RF optimization.
2) Drive testing was performed before and after optimization using TEMS software to record network parameters like RxLevel, RxQuality, and events.
3) Analysis found call drops were occurring due to issues like handover failures between sectors, interference from adjacent channels, and overshooting due to antenna tilt.
4) Corrective actions taken included defining neighbors between sectors, adjusting frequencies to reduce interference, and lowering the mechanical tilt of an antenna.
5) Post-optimization drive testing showed improvements in RxLevel, RxQuality, and a reduction in dropped calls.
This document describes the design of an intelligent autonomous wheeled robot that uses RF transmission for communication. The robot has two modes - automatic mode where it can make its own decisions, and user control mode where a user can control it remotely. It is designed using a microcontroller and can perform tasks like object recognition using computer vision and color detection in MATLAB, as well as wall painting using pneumatic systems. The robot's movement is controlled by DC motors and it uses sensors like ultrasonic sensors and gas sensors to navigate autonomously. RF transmission allows communication between the robot and a remote control unit. The overall aim is to develop a low-cost robotic system for industrial applications like material handling.
This document reviews cryptography techniques to secure the Ad-hoc On-Demand Distance Vector (AODV) routing protocol in mobile ad-hoc networks. It discusses various types of attacks on AODV like impersonation, denial of service, eavesdropping, black hole attacks, wormhole attacks, and Sybil attacks. It then proposes using the RC6 cryptography algorithm to secure AODV by encrypting data packets and detecting and removing malicious nodes launching black hole attacks. Simulation results show that after applying RC6, the packet delivery ratio and throughput of AODV increase while delay decreases, improving the security and performance of the network under attack.
The document describes a proposed modification to the conventional Booth multiplier that aims to increase its speed by applying concepts from Vedic mathematics. Specifically, it utilizes the Urdhva Tiryakbhyam formula to generate all partial products concurrently rather than sequentially. The proposed 8x8 bit multiplier was coded in VHDL, simulated, and found to have a path delay 44.35% lower than a conventional Booth multiplier, demonstrating its potential for higher speed.
This document discusses image deblurring techniques. It begins by introducing image restoration and focusing on image deblurring. It then discusses challenges with image deblurring being an ill-posed problem. It reviews existing approaches to screen image deconvolution including estimating point spread functions and iteratively estimating blur kernels and sharp images. The document also discusses handling spatially variant blur and summarizes the relationship between the proposed method and previous work for different blur types. It proposes using color filters in the aperture to exploit parallax cues for segmentation and blur estimation. Finally, it proposes moving the image sensor circularly during exposure to prevent high frequency attenuation from motion blur.
This document describes modeling an adaptive controller for an aircraft roll control system using PID, fuzzy-PID, and genetic algorithm. It begins by introducing the aircraft roll control system and motivation for developing an adaptive controller to minimize errors from noisy analog sensor signals. It then provides the mathematical model of aircraft roll dynamics and describes modeling the real-time flight control system in MATLAB/Simulink. The document evaluates PID, fuzzy-PID, and PID-GA (genetic algorithm) controllers for aircraft roll control and finds that the PID-GA controller delivers the best performance.
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Working Capital Management: An Essential Tool of Business Finance - A Case Study of National Plastic Industries Limited (NPIL)
1. IOSR Journal of Business and Management (IOSR-JBM)
e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 12, Issue 2 (Jul. - Aug. 2013), PP 01-07
www.iosrjournals.org
www.iosrjournals.org 1 | Page
Working Capital Management: An Essential Tool of Business
Finance - A Case Study of National Plastic Industries Limited
(NPIL)
* Moirangthem Biren Singh , ** Dr. N. Tejmani Singh
Abstract: Working capital is an integral part of overall business finance for the smooth operations of a
business enterprise. An optimal management of working capital is one of the pre-conditions for the success of
an enterprise. Efficient management of working capital ensures that the business operating cycle keeps moving
without any hurdles in terms of payment of liabilities and procurement of raw materials. Efficient management
of working capital means management of various components of working capital in such a way that adequate
amount of working capital and liquidity is maintained for smooth running of an enterprise. The flow of money
gets choked, the supplies are interrupted and payments are delayed in the event of inefficient management of
working capital. While inadequate working capital has the potential to disrupt production or sales operation
and is a disastrous, excessive working capital has an adverse impact on profitability and is a criminal waste.
Management of working capital is regarded as an essential tool of business finance focusing on maintaining
optimum levels of both the components viz. current assets and current liabilities. Thus there is an imperative
need to manage working capital effectively.
In this study, we have selected National Plastic Industries Limited as a sample and taken the financial
data for the period of five years from 2006-07 to 2010-11 and studied the effect of different components of
working capital.
Key Words: Working capital, Optimum level, Inadequate, Liquidity, Inefficient, Profitability.
I. Introduction
The working capital is the life-blood and nerve centre of every business enterprise. No business can run
effectively without adequate quantity of working capital. Management of working capital is an integral part of
overall corporate management. A business enterprise with ample working capital is always in a position to take
advantages of any favorable opportunities either to purchase raw-materials or implement a new special order or
to wait for enhancing market status. Working capital can be utilized for meeting day-to-day expenses and for
maintaining fixed assets that are involved in everyday life of a business enterprise. It is rightly said that the
overall success or failure of a business enterprise mainly depends upon how the enterprise manage its working
capital. Thus, proper management of working capital has become an essential part every business enterprise
because it shows the efficiency and financial strength of an enterprise.
In modern financial management, administration of working capital is an important and challenging
task due to high proportion of working capital in the business finance. In fact, it is the activity of the finance
manager to provide adequate working capital to maintain the balance between liquidity and profitability of a
business enterprise. Liquidity and profitability are the two major aspects of corporate business life. If we
emphasize on liquidity, it will adversely affect the profitability and similarly if we emphasize more on
profitability, it will adversely affect the liquidity. Therefore proper management between the two should be the
basic objective of the working capital management.
Efficient management of working capital means management of various components of working capital
in such a way that an adequate amount of working capital is maintained for smooth running of an enterprise and
for fulfillment of objectives of liquidity and profitability. But, it is very difficult for the finance manager to
estimate working capital properly because the amount of working capital varies across business enterprises over
the periods depending upon the nature of business, raw-materials used, technology, finished products, degree of
competition in the market, credit policy, etc. Therefore, effective provision of working capital in the form of
different current assets and its proper management has become an essential part of business finance.
*Research Scholar, Department of Commerce, Manipur University.
** Associate Professor, Dept. of Commerce, Manipur University.
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II. Business Finance And Working Capital
Every business concern requires money or finance to commence or continue its operations and for the
growth or expansion of the business.
Business finance is business activity which is concerned with the acquisition and conservation of
capital funds in meeting the financial needs and overall objectives of a business enterprise.
The finance or capital requirement of a business can be broadly classified into two main categories viz.
fixed capital requirements and working capital requirements. The long-term capital or fixed capital is the core of
the business, the main bearing around which the short-term or working capital revolves. The former is spent in
obtaining fixed assets while later is required as current assets for effective utilization of those fixed assets. The
former provides the necessary means of production while the later provides all necessary expenses that are
required for day-to-day operations. Thus, finance in business is required to be invested in fixed and current
assets in suitable doses so that the business is carried on smoothly without any interruption. Management
functions like planning, organizing, directing, coordinating and controlling can not discharged efficiently
without adequate finance. Therefore, the success and survival of every business depends not only upon the
availability of adequate fixed assets but also on the efficient management of short-term or working capital i.e.,
Current assets and Current liabilities. Working capital management policies of a firm has a great importance on
its profitability, liquidity and structural health. It is three dimensional in nature as:
It is concerned with the formulation of policies with regard to profitability, liquidity and risk.
It is concerned with the decisions about the compositions and level of current assets.
It is concerned with the decisions about the compositions and level of current liabilities.
Guided by the above criteria and policies, the finance manager will use a combination of policies and
techniques for the management of working capital as a tool of business finance.
III. Company Profile Of National Plastic Industries Limited (NPIL)
National Plastic started its production in a very humble manner in the year 1952 in a 500 sq.ft.
Premises, manufacturing Plastic Buttons for shirts etc. Slowly and steadily it kept on innovating new and
interesting homeware products which at a later date became the main thrust of innovation for the company. It
did not take National Plastic to become not only India‟s largest manufacturer of households products but also
the largest exporter of plastic houseware in India. The brand „NATIONAL‟ became a household name in
Plastics in India. National Plastic Industries Ltd., then took a quantum leap and commenced the commercial
production of Molded Furniture in 1994 and since then has gone from strength to strength. Besides chairs, the
Company is one of the Pioneers in bringing in a revolution for the use of Plastic Crates for the Beverage
Industry in India. Today Plastic Crates are very well accepted all over India for soft-drink Industry. International
brand like PEPSI, COCA-COLA etc. are using National crates for crating their bottle besides numerous national
and local brands.
National Plastic has been marketing their products under the brand name “NATIONAL”. Today
National Plastic Industries Ltd. is an ISO- 9001: 2008 ACCREDITED COMPANY and NATIONAL products
are available across 36 countries including America and Australia etc.
National Plastic Industries Ltd. with its constant endeavor for innovation will continue to introduce
many new and innovative products both for domestic as well as International markets and thereby will fulfill its
commitments to the society as a whole by offering premium quality products at the most affordable prices.
IV. Literature Review
National Council of Applied Economic Research (NCAER), in 1966 conducted a study entitled
“Structure of working capital” with special reference to three industries, namely fertilizers, cement and sugar.
This study was mainly devoted to the analysis of composition of working capital in these industries for the
period 1959 to 1963. However, NCAER failed to put into sharp focus the various components of working
capital.
Ram Kumar Mishra (1975) made a study at the University of Rajasthan under the title “Problem of
working capital” with special reference to public enterprises during the period 1960-61 to 1967-68. No doubt,
the basic issues outlined in Dr. Mishra‟s study and finding therein are relevant to many of the units in the public
sector even today, but due to the functional and structural changes that public enterprises have witnessed in the
post- 1968 era, a repeated effort on a different sample is called for to bring the prescriptions up to date.
Dr. N.K. Agrawal (1977) made a study at the University of Delhi on the “Management of Working
Capital” in respect of certain large manufacturing and trading public limited companies. The sample of this
study covered 34 companies in all and related to the period 1966-67 to 1973-74. Dr. Agrawal observed that
although most of the companies were making use of modern techniques in the areas of inventory, receivables
and cash management, there appeared a sufficient scope for reduction in investments in almost all the segments
of working capital.
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A study conducted by Vijayasaradhi and Rao ( 1978) on the “ problem of working capital management
in public enterprises” revealed that the management of working capital played a key role in the success of the
business. The study indicated that increasing trends in the investment of current assets resulted in higher
carrying cost which, in turn, negatively affected the profitability position of the company.
Jain, Yadav and Surendra made a study on working capital management practices of public sector
enterprises in India. This study was based on an analysis of 13-year period data from 1991 to 2003 of 137 public
sector enterprises and stated that, a business organization has to be conscious that inadequate working capital
can disrupt its operations and may lead to illiquidity. At the same time excessive working capital is also not
desirable since it adversely affects profitability.
Deloof, M. (2003) posits that managers can increase profitability by reducing the number of days of
accounts receivables and inventories.
Banomyong (2005) highlighted that a company with a lower cash conversion cycle is more efficient because it
turns its working capital over more number of times in a year, which means that it generated more sales per unit
of money invested in working capital management.
Gupta (2010) highlighted that better working capital management can significantly help companies to
improve their growth rates vis-à-vis competitors and ultimately increase the wealth of their shareholders.
All the above studies provide us a solid base and give an idea regarding working capital management
and its components. They also give us the results and conclusions of those researches conducted on the same
area for different countries and environment from different aspects. Therefore the present study has been taken
up for research since no studies has been conducted so far in such industries.
V. Objective of the Study
Keeping in view the importance of working capital management in business finance, an attempt is
made to study the contribution towards a crucial element in financial management. The specific objective of this
article is to have a comprehensive analysis of working capital decisions and practices followed by National
Plastic Industries Limited (NPIL) over the past five years through a study of working capital trend, liquidity
ratios and efficiency ratios related to utilization of current assets. The study will help to highlight the relative
importance of working capital management as an essential tool of business finance.
VI. Research Methodology
For this study, one of the leading plastic industries in India namely National Plastic Industries Ltd.,
Mumbai has been purposively selected. The period of study covers five years, from 2006-07 to 2010-2011. The
study covers mainly the Working capital trend and analysis, Efficiency of working capital and Test of liquidity
and profitability.
The data for the study was collected from the annual reports of the selected company. Various
techniques of ratio analysis namely Current Ratio, Quick Ratio, Working Capital Turnover Ratio, Return On
Capital Employed (ROCE), Current Assets to Total Assets Ratio etc. are used for analyzing the data. Analysis is
based on secondary data. Secondary data sources are Balance Sheets and Profit and Loss Accounts for the past
five years which are extracted from the annual reports of the company. The key financial ratios have been
computed for all working capital decisions.
VII. Trend of Working Capital
The working capital trend plays the most important part in determining the level of operational
activities of a business. It involves two respective aspects viz. level of investment in working capital and
structure of working capital. The position of National Plastic Industries Limited is explained with the help of
figures given in Table 1.1.
From this analysis, it is clear that the level of investment in working capital has registered an increasing
trend from 2006-07 onwards. It has increased from Rs. 13.69 crores in 2006-07 to Rs. 21.89 crores in 2010-
2011. It dropped marginally from Rs. 20.26 crores in 2008-09 to 20.05 crores in 2009-2010.The share of current
assets in the total assets as depicted by the CA/TA ratio has been on the fluctuating trend, decreasing one year
and then increasing next year. It has fluctuated between 69.40 per cent in 2006-07 to 96.58 per cent in 2007-08
with an average of 83.18 per cent during the period. It shows an investment level above 50 per cent of total
assets of the concern. It also clearly indicates that over investment in current assets is there which, too, not a
good sign is for the company.
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Table 1.1: Working Capital Trend of NPIL
……. Rs. in Crores…….
Particulars 2006-07 2007-08 2008-09 2009-10 2010-2011
Current Assets (A)
Inventories 6.03 7.48 5.66 7.82 11.62
(32.99) (28.13) (21.46) (27.06) (39.62)
Sundry Debtors 9.71 8.86 11.01 11.78 10.54
(53.11) (33.32) (41.75) (40.77) (35.93)
Cash and Bank 0.37 0.40 0.54 0.30 0.55
(17.05) (4.06) (5.90) (3.33) (8.29)
Loans and Advances 2.17 9.85 9.15 8.99 6.63
(11.87) (37.04) (34.70) (31.12) (22.60)
Total Current Assets 18.28 26.59 26.37 28.89 29.33
(100.00) (100.00) (100.00) (100.00) (100.00)
Current Liabilities (B) 4.59 11.36 6.11 8.84 7.44
Net
Working Capital (A-B) 13.69 15.23 20.26 20.05 21.89
Total Assets 26.34 27.53 31.81 32.00 38.22
CA/TA Ratio (%) 69.40 96.58 82.90 90.28 76.74
Source: Compiled and computed from the Annual Report of NPIL 2010-2011.
(Note: Figures in parentheses show percentage of respective item taking total current assets as hundred.)
It has fluctuated between 69.40 per cent in 2006-07 to 96.58 per cent in 2007-08 with an average of
83.18 per cent during the period. It shows an investment level above 50 per cent of total assets of the concern. It
also clearly indicates that over investment in current assets is there which, too, not a good sign for the company.
This is the pursuance of conservative policy by the management during the period of study. So, lower level of
liquidity would be there with a low degree of risk but low profit too. Sundry debtors have the lion‟s share among
the current assets. They are followed by inventories, loans and advances and then cash and bank balances. The
share of inventories has shown a fluctuating trend throughout the period under study. So in the case with other
components too.
On an average, the short term solvency position of the company, as far as the availability of current
assets is concerned, seems to be more than enough. There is still much scope in improving the investment level
of current assets to avoid any over or under-investment in current assets.
VIII. Test of Liquidity or Solvency
An analysis of the liquidity of working capital is useful both to short-term creditors and internal
management of a concern. To the internal management it indicates whether the working capital is sufficient or
not and to what extent the concern has over or under invested cash in its operating cycle.
Thus the liquidity of working capital can be judged in terms of its relation with firm‟s debts. The following
ratios may be used for this purpose.
I. Current Ratio = Current Assets/ Current Liabilities
II. Quick Ratio = Current Assets- Inventory/ Current Liabilities
These two ratios are the index of solvency of a firm. It indicates the ability of an enterprise in regard to
meeting its current liabilities and the ratio shows the number of times the current assets are able to pay current
liabilities.
Table No. 1.2, 1.3 shows the liquidity or solvency position of National Plastic Industries Limited (NPIL) during
the period of study.
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Table 1.2 Current Ratio of NPIL for the period 2006-07 to 2010-2011
Year Current Assets Current Liabilities Current Ratio
(Rs. in crores) (Rs. in crores)
2006-07 18.28 4.59 3.98
2007-08 26.59 11.36 2.34
2008-09 26.37 6.11 4.31
2009-2010 28.89 8.84 3.26
2010-2011 29.33 7.44 3.94
Average of Current Ratio 3.57
Source: Compiled and computed from the Annual Reports of NPIL 2010-2011.
From the above analysis, considering all the years together on average the current ratio was 3.57: 1.
Current ratio of NPIL was ranging between 2.34:1 in 2007-08 to 4.31:1 in 2008-09. It fluctuated every year.
This ratio was ranging around the average during the major part of the study but not a single year registered the
standard ratio of 2:1. Only in the year 2007-08 the ratio registered near to standard ratio, which means the
company maintained a high liquidity during the entire study period.
If the conventional liquidity of 2:1 is considered as a norm, the working capital of NPIL is observed to
be excess. The liquidity position appears to be very high during most of the period under study. Maintenance of
adequate liquidity without interrupting the profitability is the foremost requirement of sound and efficient
working capital management. From this perspective, it may be undesirable on the part of companies as such
funds are either non-earning or earn very little. Thus excessive liquidity may be the indication of lack of
management practices.
Table 1.3 Quick Ratio of NPIL for the period 2006-07 to 2010-2011
Year Quick Assets Current Liabilities Quick Ratio
(Rs. in crores) (Rs. in crores)
2006-07 12.25 4.59 2.67
2007-08 19.11 11.36 1.68
2008-09 20.71 6.11 3.39
2009-2010 21.07 8.84 2.38
2010-2011 17.72 7.44 2.38
Average 2.48
Source: Compiled and computed from the Annual Report of NPIL 2010-11.
Note: Quick Assets = Current Assets- Inventories.
The conventional standard of quick ratio is 1:1. The quick ratio of NPIL is ranging from 1.68 in 2007-
08 to 3.39 in 2008-09. The mean of this ratio is 2.48 and during most of the year of study the ratio marked
higher than the standard ratio 1:1 except in the in 2007-08. It is evident that the quick ratio of NPIL is more
than satisfactory and liquidity was very strong during the study period.
IX. Efficiency of Working Capital
A close relationship exists between sales and net working capital. With any increase in sales volume,
there is corresponding increase in a working capital. The overall efficiency with which working capital funds are
used can be measured by working capital turnover ratio. In other words, the ratio helps to assess the degree of
efficiency in the use of short term funds for generating sales. The working capital is considered to be efficiently
circulated when it is turned over quickly, since the greater the circulation, the lower the investments in working
capital. Working capital turnover ratio is computed as follows:
WTR= Net Sales / Net Working Capital.
The following Table No. 1.4 shows the Working Capital Turnover Ratio of the company under study.
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Table 1.4 Working Capital Turnover Ratio of NPIL: 2006-07 to 2010-2011
Year Net Sales Net Working Net Working
Capital Turnover
(Rs. in ………………crores) (in times)
2006-07 34.47 13.69 2.52
2007-08 32.19 15.23 2.11
2008-09 38.99 20.26 1.92
2009-2010 49.29 20.05 2.46
2010-2011 56.30 21.89 2.57
Average 2.32
Source: Compiled and computed from the Annual Report of NPIL 2010-11.
It is seen from the table that the working capital turnover ratio decreased gradually from the beginning
year of study to the year 2007-08 and 2009. But an increasing trend is observed in the next two years and trying
to cope up with 2.57 times in 2010-2011. The reason for decreasing in the turnover was that sales decreased in
2007-08 but net working capital increased from 13.69 crores to 15.23 crores. In the year 2008-09 the turnover of
working capital was decreased inpite of increased in sales. The reason was that the relative speed of increase in
working capital was higher than the speed of increase in sales. In the last two years 2009-2010 and 2010-2011
the ratios were 2.46 and 2.57 times respectively. The sudden increase in turnover ratio may be due to decrease in
working capital and constant increase in sales during the last two years of study.
X. Test of Profitability
Table 1.5 Profitability position of NPIL: 2006-07 to 2010-2011
_______________________________________________________________________
Year (1) (2) (3) (4) (5) (6) (7)
CA FA TA CL TA-CL EBIT ROCE
(1+2) (3-4) (6/5)*100
2006-07 18.28 12.66 30.94 4.59 26.35 1.93 7.32
2007-08 26.59 12.31 38.90 11.36 27.54 2.55 9.26
2008-09 26.37 11.43 37.80 6.11 31.69 3.33 10.51
2009-2010 28.89 11.69 40.58 8.84 31.74 6.11 19.25
2010-2011 29.33 12.82 42.15 7.44 34.71 5.65 16.27
Source: Compiled and computed from the Annual Report of NPIL
Note: CA-Current Assets; FA- Fixed Assets; TA- Total Assets;
EBIT- Earning Before Interest and Taxes; ROCE- Return On Capital Employed.
Table 1.5 shows the profitability position of National Plastic Industries Limited with the help of Return
On Capital Employed (ROCE). It indicates that profitability of NPIL has increased more than two times in a
span of 5 years. It has increased from 7.32% in 2006-07 to 16.27% in 2010-2011. But a fluctuation is observed
in the last year of study. In this year, the ROCE has decreased marginally from 19.25% in 2009-2010 to 16.27 in
2010-2011.
XI. Conclusions and Suggestions
From the entire foregoing analysis of working capital management of National Plastic Industries
Limited (NPIL), the following observations are made in brief as conclusions:
1. The overall size of net working capital of sample unit had maintained a raising trend throughout the period
under study except in the year 2009-2010. The amount of net working capital was Rs.13.69 crores in 2006-07
and gradually increased to Rs. 21.89 in 2010-2011. The increased in net working capital is attributed to the
faster rise in the size of current assets.
2. The size of current assets and current liabilities were increased during the study period due to increase in sales
or activities.
3. Inventories and Sundry debtors were the major and key components of current assets in the sample unit.
4. The suggested ideal or standard current ratio and quick ratio were not found even for a single year of study in
the sample unit. The current ratio has been well above 2:1 throughout the period under study. It is true that the
higher the current ratio, the more the firm‟s ability to meet current obligations but such a high ratio is not
considered very good for the concern. It indicates slack management practices of the concern.
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5. The average working capital turnover ratio was very low during the period of study, which probably shows
the excess of working capital during these periods. It shows that the current assets were not effectively utilized
due to poor management of working capital.
From the above conclusions, the following suggestions can be made for improving the management of
working capital in the private sector enterprise. It can prosper the industries not only to their own expectations
but also to that of Government, Consumers, Investors and Employees.
1. The industry should try to control the growth rate of current assets as compared to current liabilities to some
extent as per the industry needs and situations to maintain proper level of net working capital.
2. The industry should try to maintain a balance between liquidity and profitability position by improving
current ratio and quick ratio. For this purpose the industry should develop some ideal standard of these
ratios and try to maintain this standard ratio. The management must follow the ideal norm of 2:1 and try to
maintain its ratio around it.
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