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@article{161057,
        author = {Shweta Oza and Dr. Maulik Desai},
        title = {A study of Ratio Analysis and role of Working Capital Management on Efficiency and Profitability of Cement Companies in Gujarat},
        journal = {International Journal of Innovative Research in Technology},
        year = {},
        volume = {10},
        number = {2},
        pages = {534-545},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=161057},
        abstract = {The purpose of this paper was to analyse the role of working capital management on efficiency and profitability of cement firms in Gujarat. This paper attempted to analyse that whether there had been a significant difference in the efficiency and profitability of cement firms as a result of better working capital management. This study included a sample of 4 cement manufacturing firms in Gujarat. This study involved a two-stage methodology. In the first part, one way ANOVA test was used to investigate the significant difference in efficiency and profitability.  In the second part of methodology, the focus was given to check the impact of inventory turnover ratio on profitability of the companies using correlation matrix. The results shown that there was a significant difference in efficiency except working capital turnover ratio. It was also found that two companies had a positive correlation between inventory turnover ratio and profitability ratios whereas other two companies had negative correlation. These results are recommended to financial institutions, banks and executives. The study finds that working capital management leads to improvement in the efficiency and profitability of the firms. 

},
        keywords = {working capital management, liquidity, profitability, efficiency, ANOVA},
        month = {},
        }