A FINANCIAL PERFORMANCE OF SELECTED TEXTILE COMPANIES IN TAMILNADU

Dr.C.Vadivel; P.Nithya Devi

Volume : VI, Issue : IX, September - 2016

A FINANCIAL PERFORMANCE OF SELECTED TEXTILE COMPANIES IN TAMILNADU

Dr. C. Vadivel, P. Nithya Devi

Abstract :

Textile industry plays an very important role in economic development of our country. In gobal level Indian textile plays an vital role. Our economy is largely dependent on the textile manufacturing and trade in addition to other major industries. About 27% of the foreign exchange earnings are on account of export of textiles and clothing alone. The textiles and clothing sector contributes about 14% to the industrial production and 3% to the gross domestic product of the country. Around 8% of the total excise revenue collection is contributed by the textile industry. So much so, the textile industry accounts for as large as 21% of the total employment generated in the economy. Around 35 million people are directly employed in the textile manufacturing activities. Indirect employment including the manpower engaged in agricultural based raw–material production like cotton and related trade and handling could be stated to be around another 60 million. The study has analysed the profitability and liquidity position of selected textile companies in tamilnadu. It is empirical in nature it selected five major textile companies in tamilnadu such as lakshmi mills company ltd, Coimbatore, rajapalayam mills ltd , Rajapalayam, Sri Nachammai cloth mills ltd , Salem, and Sri Ramakrishna mills Coimbatore as sample of the study. It collected data from annual reports of the selected companies for the period of five years from 2010–2011 to 2014–2015. The study mainly used ratio analysis as statistical tool. The present study of profitability analysis of selected textile companies in tamilnadu was made for the study period of five years from 2010 – 2011 to 2014 – 2015.