Ijrcm 1 IJRCM 1 Vol 4 2013 Issue 7 Art 10

8/18/2019 Ijrcm 1 IJRCM 1 Vol 4 2013 Issue 7 Art 10

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VOLUME NO. 4 (2013), ISSUE NO. 07 (JULY) ISSN 0976-2183

A Monthly Double-Blind Peer Reviewed (Refereed/Juried) Open Access ntern!tion!l e-Journ!l - ncluded in the ntern!tion!l "eri!l Directories

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INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENTA Monthly Double-Blind Peer Reviewed (Refereed/Juried) Open Access ntern!tion!l e-Journ!l - ncluded in the ntern!tion!l "eri!l Directories

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ii

CONTENTSCONTENTSCONTENTSCONTENTS Sr.No. TITLE & NAME OF THE AUTHOR (S)

PageNo.

1 A STUDY OF CUSTOMER SATISFACTION FOR IDEA CELLULAR IN EASTERN RAJASTHANDR. KAVALDEEP DIXIT & NEHA JAIN

1

2 AN EMPIRICAL STUDY ON EMOTIONAL INTELLIGENCE OF GENERATION X MANAGERSDR. S. GANESAN & DR. R. KRISHNAMURTHI

10

3 STUDY ON SOURCES OF FUND OF PRIMARY CO-OPERATIVE AGRICULTURE AND RURAL DEVLOPMENT BANKS IN COMPOSITE TOTHANJAVUR DISTRICTDR. K. RAMAKRISHNAN & S.SOUNDARANAYAHI

13

4 ETHICAL LEGAL AND SOCIAL RESPONSIBILITY IN TOURISM BUSINESSSUBODH KUMAR MISHRA

1!

" A STUDY OF FDI AND INDIAN BANKINGDR. G. S. GAUD & DR. GIRISH KUMAR PAINOLI

20

! RELATIONSHIP BET#EEN TRADE AND FDI$ EVIDENCE FROM FOOD PROCESSING SECTOR IN INDIADR. ASHISH MANOHAR URKUDE & PRAVIN JADHAV

24

% EMPLOYEE PERFORMANCE APPRAISAL IN CEMENT INDUSTRY$ A CASE STUDY OF ACC LIMITED #ADI GULBARGA DISTRICTDR. A. P. HOSMANI & SHAIKH TABASSUM HAMEED

30

SCIENTIFIC INPUT FOR THE TRAINERS OF HRD PRACTITIONERS IN SOFT#ARE INDUSTRYP. SURJITH KUMAR & DR. N. PANCHANATHAM

34

' TO STUDY MARKETING STRATEGIES FOR CAR LOANS CUSTOMERS$ A COMPARATIVE STUDY OF PUBLIC SECTOR BANKS AND PRIVATE

SECTOR BANKS #ITH SPECIAL REFERENCE TO MEERUT U( P( ADITI SHARMA & DR. SUDHINDER SINGH CHOWHAN

3'

10 FINANCIAL ANALYSIS OF INDIAN OIL CORPORATION LIMITEDPAWAN KUMAR, DR. V. K. GUPTA & DR. ANIL KUMAR GOYAL

4!

11 PERCEIVED PERFORMANCE APPRAISAL EFFECTIVENESS AND ITS IMPACT ON ACADEMIC STAFF ORGANISATIONAL COMMITMENTTURNOVER INTENTION$ A CONCEPTUAL MODEL

DR. A KUMUDHA & J. BAMINI

"3

12 A STUDY ON EMPLOYEE #ELFARE ACTIVITIES IN RASHTRIYA ISPAT NIGAM LIMITED VISAKHAPATNAM STEEL PLANTRAKHEE MAIRAL RENAPURKAR

"%

13 A STUDY ON A#ARENESS OF MOBILE MARKETING IN VELLORE DISTRICTDR. M. RAGURAMAN, R. VEERAPPAN & ANGELO JOSEPH

!3

14 ROLE OF SELF-HELP GROUPS IN MOVEMENT OF SOCIO-ECONOMIC AND POLITICAL TRANSFORMATION$ A CASE STUDY IN PURBAMEDINIPUR DISTRICT

SIDDHARTHA CHATTERJEE

!%

1" #OMEN EMPO#ERMENT THROUGH SELF HELP GROUP$ A STUDYPREETI SONI %!

1! IMPACT OF OUT OF BOX ADVERTISING IN INTERNET ON ATTENTION RETENTION AND PURCHASE INTENTIONSS N KUMAR & ANUPAMA SUNDAR

%'

1% THE EFFECT OF DISCLOSURE )UALITY ON STOCK TURNOVERS OF ACCEPTED COMPANIES IN TEHRAN STOCK EXCHANGE AKRAM DAVOODI FAROKHAD & SAYED NAJIB ALLAH SHANAEI

2

1 EFFICIENT COMMUNICATION FOR EFFECTIVE SUPERVISORSDR. VIDHU GAUR

%

1' THE IMPACT OF CAPITAL STRUCTURE ON MICRO FINANCE INSTITUTION PERFORMANCE$ EVIDENCE FROM ETHIOPIAGEMECHU FEYISSA GUDU

'1

20 A STUDY ON PUBLIC BUDGET MANAGEMENT OF HIV*AIDS INTERVENTIONNURUL DWI PURWANTI

'!

21 A STUDY OF POVERTY ERADICATION IN INDIA$ NATIONAL POLICIES PLANS AND PROGRAMSDR. SANJAY KUMAR CHOURASIYA

101

22 A STUDY ON UNDERSTANDING OF RURAL CONSUMER BEHAVIOUR IN INDIASUCHI K. PATEL & ZARNA M. PATEL 10!

23 ENVIRONMENT FOR #OMEN ENTREPRENEURS IN INDIA JAINENDRA KUMAR VERMA

10

24 #ATER RESOURCES AND TOURISM PROMOTION$ A CASE STUDY OF HYDERABAD JAYAPRAKASH NARAYANA G

110

2" A STUDY ON EMPLOYEES+ ATTRITION IN BPO SECTOR #ITH SPECIAL REFERENCE TO CHENNAI CITYB.LATHA

113

2! ANALYSIS OF GRO#TH & CHALLENGES FACED BY MANAGEMENT EDUCATION IN INDIA$ A CRITICAL REVIE# OF LITERATUREHIMANI RAVAL

11

2% LEARNING AND DEVELOPMENT IN INFORMATION TECHNOLOGY ,IT COMPANIESSIRISHA DAMARAJU

121

2 #OMEN ENTREPRENEURS+ DEVELOPMENT THROUGH TRAINING AND EDUCATION IN INDIA JAINENDRA KUMAR VERMA

123

2' INTEREST RATE FLUCTUATIONS AND FINANCIAL OUTCOMES OF BANKNG SECTOR$ A CASE STUDY OF PAKISTAN ASAD ZAMAN, AMMAR ALI GULL, REHAN NASIR, MUHAMMAD BILAL, YASIR PERVAIZ, MUHAMMAD ASIM RIAZ & MUBASHER ASHRAF 12"

30 PEOPLE MANAGEMENT PRACTICES$ A POTENTIAL TOOL FOR ORGANI.ATIONAL PERFORMANCESANTOSH V BILGUNDI, KIRAN KUMAR M & AKSHAY PAI R

130

RE)UEST FOR FEEDBACK 134


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CHIEF PATRON CHIEF PATRON CHIEF PATRON CHIEF PATRONPROF( K( K( AGGAR#AL

,h!ir3!n% M!l!viy! '!tion!l nstitute of 6echnolo&y% J!ipur(An n!""#"$ % N'"%n' I)*%+"'n$ & #- #n$ /- Mn!"+- % H#)'n R$!%#+$ D$0$%*)$n", G%0$+n)$n" % In'1

,h!ncellor% 7 R M!n&!l!3 8niversity% #ur&!on

,h!ncellor% 9in&!y!:s 8niversity% $!rid!b!d

$ounder ;ice-,h!ncellor (


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PROF( ANIL K( SAINI,h!irperson (,R,)% #uru#obind"in&h P 8niversity% Delhi

DR( SAMBHAVNA$!culty% 6M% Delhi

DR( MOHENDER KUMAR GUPTAAssoci!te Professor% PJ9'#overn3ent,olle&e% $!rid!b!d

DR( SHIVAKUMAR DEENEAsst Professor% Dept of ,o33erce% "chool of Business "tudies% ,entr!l 8niversity of 7!rn!t!!% #ulb!r&!

ASSOCIATE EDITORS ASSOCIATE EDITORS ASSOCIATE EDITORS ASSOCIATE EDITORSPROF( NA#AB ALI KHAN

Dep!rt3ent of ,o33erce% Ali&!rh Musli3 8niversity% Ali&!rh% 8P

PROF( ABHAY BANSAL.e!d% Dep!rt3ent of nfor3!tion 6echnolo&y% A3ity "chool of ?n&ineerin& 6echnolo&y% A3ity

8niversity% 'oid!

PROF( V( SELVAM""9% ;6 8niversity% ;ellore

PROF( N( SUNDARAM;68niversity% ;ellore

DR( PARDEEP AHLA#ATAssoci!te Professor% nstitute of M!n!&e3ent "tudies Rese!rch% M!h!rshiD!y!n!nd8niversity% Roht!

DR( S( TABASSUM SULTANA Associ!te Professor% Dep!rt3ent of Business M!n!&e3ent% M!trusri nstitute of P# "tudies% .yder!b!d

TECHNICAL ADVISOR TECHNICAL ADVISOR TECHNICAL ADVISOR TECHNICAL ADVISORAMITA

$!culty% #overn3ent M "% Moh!li

FINANCIAL ADVISORS FINANCIAL ADVISORS FINANCIAL ADVISORS FINANCIAL ADVISORSDICKIN GOYAL

Advoc!te 6!@ Adviser% P!nchul!

NEENA

nvest3ent ,onsult!nt% ,h!3b!&h!t% "ol!n% .i3!ch!l Pr!desh

LEGAL ADVISORS LEGAL ADVISORS LEGAL ADVISORS LEGAL ADVISORSJITENDER S( CHAHAL

Advoc!te% Pun5!b .!ry!n! .i&h ,ourt% ,h!ndi&!rh 86

CHANDER BHUSHAN SHARMAAdvoc!te ,onsult!nt% District ,ourts% 2!3un!n!&!r !t J!&!dhri

SUPERINTENDENT SUPERINTENDENT SUPERINTENDENT SUPERINTENDENTSURENDER KUMAR POONIA


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CALL FOR MANUSCRIPTSCALL FOR MANUSCRIPTSCALL FOR MANUSCRIPTSCALL FOR MANUSCRIPTSCe invite unpublished novel% ori&in!l% e3piric!l !nd hi&h u!lity rese!rch wor pert!inin& to recent develop3ents pr!ctices in the !re!s of

,o3puter "cience Applic!tionsE ,o33erceE BusinessE $in!nceE M!retin&E .u3!n Resource M!n!&e3entE #ener!l M!n!&e3entE B!nin&E

?cono3icsE 6ouris3 Ad3inistr!tion M!n!&e3entE ?duc!tionE 9!wE 9ibr!ry nfor3!tion "cienceE Defence "tr!te&ic "tudiesE ?lectronic

"cienceE ,orpor!te #overn!nceE ndustri!l Rel!tionsE !nd e3er&in& p!r!di&3s in !llied sub5ects lie Accountin&E Accountin& nfor3!tion

"yste3sE Accountin& 6heory Pr!cticeE Auditin&E Beh!vior!l Accountin&E Beh!vior!l ?cono3icsE ,orpor!te $in!nceE ,ost Accountin&E

?cono3etricsE ?cono3ic Develop3entE ?cono3ic .istoryE $in!nci!l nstitutions M!retsE $in!nci!l "ervicesE $isc!l PolicyE #overn3ent 'on

Profit Accountin&E ndustri!l Or&!ni!tionE ntern!tion!l ?cono3ics 6r!deE ntern!tion!l $in!nceE M!cro ?cono3icsE Micro ?cono3icsE Rur!l

?cono3icsE ,o-oper!tionE De3o&r!phy4 Develop3ent Pl!nnin&E Develop3ent "tudiesE Applied ?cono3icsE Develop3ent ?cono3icsE Business

?cono3icsE Monet!ry PolicyE Public Policy ?cono3icsE Re!l ?st!teE Re&ion!l ?cono3icsE Politic!l "cienceE ,ontinuin& ?duc!tionE 9!bour

Celf!reE PhilosophyE Psycholo&yE "ociolo&yE 6!@ Accountin&E Advertisin& Pro3otion M!n!&e3entE M!n!&e3ent nfor3!tion "yste3s (M")E

Business 9!wE Public Responsibility ?thicsE ,o33unic!tionE Direct M!retin&E ?-,o33erceE #lob!l BusinessE .e!lth ,!re Ad3inistr!tionE

9!bour Rel!tions .u3!n Resource M!n!&e3entE M!retin& Rese!rchE M!retin& 6heory Applic!tionsE 'on-Profit Or&!ni!tionsE Office

Ad3inistr!tion/M!n!&e3entE Oper!tions Rese!rch/"t!tisticsE Or&!ni!tion!l Beh!vior 6heoryE Or&!ni!tion!l Develop3entE

Production/Oper!tionsE ntern!tion!l Rel!tionsE .u3!n Ri&hts DutiesE Public Ad3inistr!tionE Popul!tion "tudiesE Purch!sin&/M!teri!ls

M!n!&e3entE Ret!ilin&E "!les/"ellin&E "ervicesE "3!ll Business ?ntrepreneurshipE "tr!te&ic M!n!&e3ent PolicyE 6echnolo&y/nnov!tionE

6ouris3 .ospit!lityE 6r!nsport!tion DistributionE Al&orith3sE Artifici!l ntelli&enceE ,o3pilers 6r!nsl!tionE ,o3puter Aided Desi&n (,AD)E

,o3puter Aided M!nuf!cturin&E ,o3puter #r!phicsE ,o3puter Or&!ni!tion ArchitectureE D!t!b!se "tructures "yste3sE Discrete

"tructuresE nternetE M!n!&e3ent nfor3!tion "yste3sE Modelin& "i3ul!tionE 'eur!l "yste3s/'eur!l 'etworsE 'u3eric!l

An!lysis/"cientific ,o3putin&E Ob5ect Oriented Pro&r!33in&E Oper!tin& "yste3sE Pro&r!33in& 9!n&u!&esE RoboticsE "y3bolic $or3!l 9o&icE

Ceb Desi&n !nd e3er&in& p!r!di&3s in !llied sub5ects

Anybody c!n sub3it the / 5 of unpublished novelE ori&in!lE e3piric!l !nd hi&h u!lity 67/7869 :6;//6? anytime in M.S. Word

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FINANCIAL ANALYSIS OF INDIAN OIL CORPORATION LIMITED

!"W"N KUM"R

RESE"RCH SCHOL"R

ME"W"R UNI%ERSIT&

CHITTOR"RH

DR. %. K. U!T" RE"DER

DE!"RTMENT OF "CCOUNT, L"W ' COMMERCE

K. R. (!) COLLEE

M"THUR"

DR. "NIL KUM"R O&"L

"SSOCI"TE !ROFESSOR

RUKMINI DE%I INSTITUTE OF "D%"NCED STUDIES

ROHINI

ABSTRACTO & G'! ! %n$ % "2$ )%!" )*%+"'n" !%#+$! % $n$+3- 'n ! %n!$+$ "2$ $n$ % 'n- $%n%)-. O 'n 3'! !$"%+ %n!""#"$! '/%#" 456 % *+)'+-

$n$+3- !%#+$ n In'. T2$ % 'n 3'! ! %n$ % "2$ !7 %+$ n#!"+$! n In' 'n 2'! 0$+- !3n'n" %+8'+ n9'3$ 8"2 "2$ $n"+$ $%n%)-. In' ! "2$ "2

'+3$!" %n!#)$+ % *$"+%$#) n "2$ 8%+ 'n nn"2 '+3$!" +#$ % )*%+"$+. A! *$+ "2$ +$%+ % Mn!"+- % P$"+%$#), %0$+ "2$ -$'+! In'n *$"+%$#)

n#!"+- 2'! *'-$ 'n n#$n"' *'+" n "+33$+n3 "2$ !*$$- $7*'n!%n % "2$ %#n"+-:! $%n%)- /- %n"+/#"n3 ;$ 'n #n$+!"'n "2$ n'n' !"'"$)$n"! $'!-. Fn'n' 'n'-!! ! "2$ !$$"%n, $0'#'"%n 'n n"$+*+$"'"%n % n'n'

'"', '%n3 8"2 %"2$+ *$+"n$n" n%+)'"%n, "% '!!!" n n0$!")$n" 'n n'n' $!%n )'9n3. Fn'n' 'n'-!! )'- /$ #!$ n"$+n'- "% $0'#'"$ !!#$!

!#2 '! *+%"'/"-, ?#"-, !%0$n-, %0$+' *$+%+)'n$, %*$+'"%n' $$n- 'n $$"0$n$!!, +$" *%$! 'n $7"$+n'- "2$ *%"$n"' n0$!")$n" '!

8$ '! +$" 8%+"2n$!! % /%++%8$+! $". Fn'n' 'n'-!! ! $!!$n"' %+ $0$+- +)@%)*'n- "% $0'#'"$ "! *$+%+)'n$ n ' n'n' '!*$"!. I" ! "2$

*+%$!! % $n"-n3 "2$ n'n' !"+$n3"2 'n 8$'9n$!! % "2$ +)@%)*'n- 'n ' "%% "% %)*'+$ 8"2 n#!"+-! n'n' 2$'"2. On$ % "2$ )%!" )*%+"'n"

'n *%8$+# "%% % n'n' 'n'-!! ! +'"% 'n'-!!. I" n'"$! "2$ $$"0$n$!! % %n3 "$+) '! 8$ '! !2%+""$+) n'n' *%$! % "2$ +)@%)*'n-.

Fn'n' 'n'-!! % In'n O C%+*%+'"%n L)"$ 'n "! n'n' *%!"%n 'n /$ 8$ #3$ /- *+%"'/"- +'"%! (G+%!! *+%" +'"%, N$" *+%" +'"% 'n

R$"#+n %n n0$!")$n" +'"%1, ?#"- +'"% (C#++$n" +'"% 'n #9 +'"%1, S%0$n- +'"% (D$/"E?#"- +'"%, D$/" "% T%"' A!!$"! R'"% 'n *+%*+$"'+- +'"%1 'nIn0$!")$n" +'"%( E'+nn3 *$+ !2'+$ 'n D0$n *'-%#" +'"%1. T2$ !"#- ! /'!$ %n !$%n'+- '"' %$"$ +%) "2$ Ann#' R$*%+"! % In'n O C%+*%+'"%n

L)"$, Ann#' R$*%+"! % "2$ Mn!"+- % P$"+%$#) 'n %"2$+ !$%n'+- !%#+$!.

KEY#ORDS$in!nci!l !n!lysis% O,9

INTRODUCTION in!nci!l !n!lysis is the !rt !nd science of e@!3inin& !nd dr!win& inferences fro3 the fin!nci!l st!te3ents $in!nci!l !n!lysis is !lso nown !s !n!lysis !nd

interpret!tion of fin!nci!l st!te3ents t refers to the process of deter3inin& fin!nci!l stren&ths !nd we!nesses of the fir3 by studyin& the rel!tionship

between the ite3s of b!l!nce sheet% profit loss !ccount !nd the other oper!tive d!t! $in!nci!l !n!lysis is l!r&ely ! study of rel!tionship !3on& the

v!rious fin!nci!l f!ctors in ! business !s disclosed by ! sin&le set of st!te3ents !nd ! study of these f!ctors !s shown in ! series of st!te3ents

6he fin!nci!l !n!lyst needs cert!in tools to be !pplied on v!rious fin!nci!l !spects One of the powerful !nd widely used tools is r!tio R!tios e@press the

nu3eric!l rel!tionship between two or 3ore rel!ted v!ri!bles/v!lues 6his rel!tionship c!n be e@pressed !s percent!&es% ti3es or proportion of nu3bers

Accountin& r!tios !re used to describe si&nific!nt rel!tionships% which e@ist between fi&ures shown in ! b!l!nce sheet% in ! profit !nd loss !ccount% in ! bud&et!ry

control syste3 or in !ny other p!rt of the !ccountin& or&!ni!tion R!tio !n!lysis pl!ys !n i3port!nt role in deter3inin& the fin!nci!l stren&ths !nd we!nessesof ! co3p!ny rel!tive to th!t of other co3p!nies in the s!3e industry 6he !n!lysis !lso reve!ls whether the co3p!nys fin!nci!l position h!s been i3provin& or

deterior!tin& over ! period of ti3e

CORPORATE OVERVIE#ndi!n Oil ,orpor!tion li3ited is ndi!s fl!&ship n!tion!l oil co3p!ny with business interests !cross the entire hydroc!rbon v!lue ch!in fro3 refinin&% pipeline

tr!nsport!tion !nd 3!retin& of petroleu3 products to e@plor!tion production of crude oil &!s% 3!retin& of n!tur!l &!s !nd petroche3ic!ls t is the

le!din& ndi!n corpor!te in the $ortune #lob!l 1** listin&% r!ned !t the =0rd position in the ye!r >*>% over 0+%>00-stron& worforce% ndi!n Oil ,orpor!tion

li3ited h!s been helpin& to 3eet ndi!:s ener&y de3!nds for over h!lf ! century Cith ! corpor!te vision to be the ?ner&y of ndi!% ndi!n Oil ,orpor!tion li3ited

closed the b!l!nce sheet ye!r >*-> with ! s!les turnover of Rs +%*


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VOLUME NO. 4 (2013), ISSUE NO. 07 (JULY)

INTERNATIONAL JOA Monthly Double-Blind Peer Reviewed (Refe

MM6PA of crude oil !nd petroleu3 products !nd *

consu3ers in !n efficient% econo3ic!l !nd environ3en

METHODOLOGY OF THE STUDY6he study is b!sed on second!ry d!t! collected for ! p

!nd Annu!l Reports of the Ministry of Petroleu3 for

ob5ectives of the study usin& ey fin!nci!l r!tios lie

(,urrent r!tio !nd Quic r!tio)% "olvency r!tio (Debt-?

Dividend p!yout r!tio)

ANALYSIS OF DATA TABLE 1$YEAR

>**1-*I

>**I-*K

>**K-*=

>**=-*<

>****-

>*->

S%

INTERPRETATION

#ross profit r!tio is the ey indic!tor of profit!bility of

cost of &oods sold $ro3 the !bove 6!ble- (#ross profi

n >**1-*I the &ross profit of co3p!ny w!s 10K !ndposition ne@t two ye!rs of the study !nd &ross profit d

fro3 the investors point of view 'o doubt co3p!ny

!&!in co3p!ny could not 3!int!in its position in ne@t

ye!r >****1-*I

>**I-*K

>**K-*=

>**=-*<>****-

>*->

S%

*

1

*

>**1-*I

10K

G

*

1

*

>**1-*

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RNAL OF RESEARCH IN COMMERCE & MANeed/Juried) Open Access ntern!tion!l e-Journ!l - ncluded in the

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MM",MD of &!s 6his networ is the l!r&est in the country !n

-friendly 3!nner

eriod of l!st seven ye!rs fro3 the Annu!l Reports (>**1-*I to >*

(>**1-*I to >*->) 6he d!t! collected h!s been t!bul!ted%

profit!bility r!tios (#ross profit r!tio% 'et profit r!tio !nd Retu

uity r!tio% Debt to 6ot!l Assets R!tio !nd propriet!ry r!tio) !nd

ROSS PROFIT RATIO OF INDIAN OIL CORPORATIO LIMITED

GROSS PROFIT NET SALES GROSS PROFIT RATIO ,

,R/( ?= C667 ,R/( ?= 667

10K

+I>> >>>=>I I1I

+00< >+=KKI* 0 >K++*I I==

I00I 00>=**K-*= !nd 0**=-*< wh

i3proved it in ye!r >**- when &ross profit re!ched to I==

two ye!rs !nd &ross profit r!tio decre!sed to +*

n& the study 6he r!tio incre!sed in spite of decre!se in s!le but

3p!ny:s s!le is incre!sin& every ye!r e@cept the ye!r >**) of ndi!n Oil ,orpor!tion 9i3ited

cl!ssified !nd !n!lysed to !chieve the

rn on invest3ent r!tio)% liuidity r!tio

vest3ent r!tio ( ?!rnin& per sh!re !nd

is !ble to ch!r&e !s s!les price over the

t!bility in &ross profit of the co3p!ny

ion but co3p!ny could not 3!int!in itsich c!n not be s!id s!tisf!ctory position

which is hi&hest in period of study but

*- !nd +K in ye!r >*-> n the

&ross profit incre!sed dr!stic!lly which

he &ross profit could not set !ny trend

ed th!t co3p!ny h!s f!iled to st!ble its

,

->

+K

->

=>


9/15



INTERPRETATION

6he net profit r!tio est!blishes the rel!tionship betwe

!d3inistr!tive !nd other !ctivities of the fir3 6his r

de3!nd etc Obviously hi&her the r!tio% the better is th

$ro3 the !bove fi&ures it is cle!r th!t lie &ross profit

c!n not be s!id s!tisf!ctory but co3p!ny i3proved r

+*+ !nd continuously decre!sed in >**=-*< when n

not ! &ood indic!tion to investors n >***-> th!t is l!st ye!r of this study w!s 5ust *=>

s!tisf!ctory fro3 the point of view of investors% credito

TABLE 3$ RE

YEAR

,R/(

>**1-*I KK>

>**I-*K <

>**K-*= I

>**=-*< =>=

>****- K

>*-> K*

S%

INTERPRETATION

Return on invest3ent r!tio is the 3ost widely used too

6hose who fin!nce the co3p!ny in the for3 of euityreuired to &ener!te the for3er t !lso helps to !sse

hi&her return

$ro3 the !bove !n!lysis it is cle!r th!t in the ye!r >**

period of study But co3p!ny could not 3!int!in it in n

*K which shows the in!bility of co3p!ny to control its

* when r!tio incre!sed to >*I0 6he co3p!ny c!

i3proved r!tio by !l3ost 11 when return on invest

incre!sin& every ye!r e@cept the ye!r >*->% the fl

un!ble to 3!int!in ?!rnin& before interest !nd t!@ with

TABLE

YEAR

>**1-*I

>**I-*K

>**K-*=>**=-*<

>****-

>*->

S%

*

>*

+*

>**1-*I

I=*

RETUR

*

>

>**1-*I

>>


http4//i5rc3or&in/

n net profit !nd s!les% !nd indic!tes the over!ll efficiency of the

tio !lso &ives the fir3:s c!p!city to f!ce !dverse econo3ic con

e profit!bility

r!tio co3p!ny !lso f!iled to st!bilie its net profit r!tio n >**1-

tio in >**I-*K to +K but f!iled to 3!int!in its position in >*

et profit r!tio re!ched down to 1 due to inefficiency in oper!

recovered fro3 this situ!tion !nd net profit r!tio incre!sed to 1

position for lon& ti3e !nd net profit r!tio decre!sed in ne@t two

!nd lowest in the study period which is ! 3!tter of worry to t

rs% lenders etc 'et profit r!tio !l3ost shows the trend of &ross pr

TURN ON INVESTMENT OF INDIAN OIL CORPORATIO LIMITED

EBIT CAPITAL EMPLOYED RETURN ON INVESTMENT ,

?= C667 ,R/( ?= 667

+I**= I=*

* ++=

1K*= >*0K

I==> >*0

> K1K1< >*I0

< =0=*+ +*+

= K1>>I1

#+$- Annu!l report of ndi!n Oil ,orpor!tion 9i3ited

l to 3e!sure co3p!ny perfor3!nce% 3!n!&eri!l effectiveness% lev

nd debt 3e!sure the co3p!ny:s perfor3!nce with this tool 6hiss ! co3p!ny:s return rel!tive to its c!pit!l invest3ent ris% since

-*I return on invest3ent r!tio is I=* !nd i3proved to >+=

e@t two ye!rs of study !nd r!tio decre!sed to >*0 in >**=-*<

per!tin& e@penditure !s well !s use of fund But co3p!ny recover

n not sust!in the i3prove3ent !nd it c!3e down to +*+

3ent r!tio re!ched to >>I1 which is second hi&hest of the p

ctu!tion in Return on invest3ent is bec!use of the ?!rnin& befo

respect to c!pit!l e3ployed

$ CURRENT RATIO OF INDIAN OIL CORPORATIO LIMITED

URRENT ASSETS CURRENT LIABILITIES CURRENT RATIO

,R/( ?= C667 ,R/( ?= 667

0*1 010K1 >>

00II +>*I+ >K

=I >K1*> 111I

K>K0 I+> >

=I> =01KI K

>K>K >0 ***I-*K >**K-*= >**=-*< >****- >*

>+= >*0K>*0

>*I0+*+

ON INVESTMENT RATIO ,

R?68R' O' ';?"6M?'6 RA6O ()

>**I-*K >**K-*= >**=-*< >****- >*

>K >K > K

CURRENT RATIO

,8RR?'6 RA6O

ISSN 0976-2183

AGEMENTntern!tion!l "eri!l Directories

+=

3!n!&e3ent in 3!nuf!cturin&% sellin&%

ditions such !s price co3petition% low

I the net profit r!tio w!s 0I0 which

K-*= !nd net profit r!tio decre!sed to

ion !s well !s in 3!n!&e3ent which is

+ which 3ore th!n three ti3es fro3

ye!rs n >**- it beco3e >K0 !nd

e co3p!ny 6his trend c!n not be s!id

fit r!tio

el of profit!bility% pl!nnin& !nd control

r!tio lins the profit !nd the invest3entrisier invest3ent is e@pected to yield

in >**I-*K which is hi&hest durin& the

hich is !l3ost h!lf fro3 the ye!r >**I-

ed this situ!tion in very ne@t ye!r >***-> co3p!ny

riod of study 6he c!pit!l e3ployed is

re interest !nd t!@ "o the co3p!ny is

->

>I1

->

*


10/15



INTERPRETATION

,urrent r!tio is the 3ost i3port!nt tool to 3e!sure th

shows the fir3:s co33it3ent to 3eet its short ter3 (,

for every fir3

n c!se of ndi!n Oil ,orpor!tion 9i3ited the !ver!&e c

study period !nd co3p!ny is so f!r fro3 st!nd!rd wh

proper level of current !ssets to 3eet its current li!bi

>**K-*= but co3p!ny f!iled to 3!int!in it in >**=-*<

not sust!in it in ne@t two ye!rs !nd r!tio decre!sed to

!ssets !re less th!n current li!bilities which 3!y result i

TABL

YEAR

>**1-*I

>**I-*K

>**K-*=

>**=-*<

>****-

>*->

S%

INTERPRETATION

6his r!tio is ! supple3ent!ry to current r!tio which &iv

r!tio is c!lcul!ted by dividin& the uic !ssets by curre

the fir3:s !bility to p!y its current li!bilities out of its

3!5or loss in the v!lue 6he ide!l uic r!tio of co3p!

could not !chieved ide!l r!tio in !ny ye!r Durin& the st

!ssets !nd current li!bilities !re incre!sin& (e@cept >

proportion it indic!tes th!t uic !ssets !re not !ble to

TABLE !$

>**1-*I

>**I-*K

>**K-*=

>**=-*<

>****-

>*->

S%

*

*1

>**1-*I

*10

*

*>

*+

*I

>**1-*I

*1K


http4//i5rc3or&in/

e short ter3 liuidity t indic!tes the fir3:s !bility to p!y its curr

urrent 9i!bilities) 6he ide!l current r!tio of fir3 should be >4 ho

rrent r!tio of the study period is K !nd co3p!ny could not !c

ich shows th!t the liuidity position of the co3p!ny is not s!tisf!

lities n >**1-*I the current r!tio w!s >>4 which i3proved to

hen current r!tio decre!sed to 4 Durin& the ye!r >****- !nd *-> n the l!st ye!r of the stud

n the incre!se of liuidity ris !nd ! 3!tter of worry to creditors

"$ )UICK RATIO OF INDIAN OIL CORPORATIO LIMITED

)UICK ASSETS CURRENT LIABILITIES )UICK RATIO

,R/( ?= C667 ,R/( ?= 667

=KK+ 010K1 *10

>=II0 +>*I+ *I=

0KK+< 1+*=> *K*

0I01> 111I *I1

+*=I< I+> *I+

+==KK =01KI *1=

I+=0 *1*


es double !ssur!nce to creditors !s to the soundness of the curr

t li!bilities t represents the nu3ber of ti3es current li!bilities !r

uic !ssets Quic !ssets !re the !ssets which !re either c!sh or e

ny should be 4 But fro3 the !n!lysis of the !bove t!ble the !v

udy period uic r!tio incre!sed in first three ye!rs but decre!sed

**=-*< when uic !ssets decre!sed 3!r&in!lly)% but r!tio is

3eet current li!bilities !nd this is ! 3!tter of worry to co3p!ny

DEBT- E)UITY RATIO OF INDIAN OIL CORPORATIO LIMITED

YEAR LONG TERM DEBTS E)UITY DEBT- E)UITY R

,R/( ?= C667 ,R/( ?= 667

IK*1 >+ 0+=1K *+>

I*>> +*=I *0<

>+=+ +0*I 1*110 *1*

>=+K> 1100> *1

K+= 1K=KK *0*


>**I-*K >**K-*= >**=-*< >****-

*I= *K* *I1 *I+ *1=

)UICK RATIO

Q8,7 RA6O

>**I-*K >**K-*= >**=-*< >****- >

*+> *0<

*1I*1* *1

DEBT- E)UITY RATIO

D?B6- ?Q862 RA6O

ISSN 0976-2183


+<

nt li!bilities out of its current !ssets t

ever it is difficult to re!ch the st!nd!rd

ieved ide!l r!tio in !ny ye!r durin& the

ctory !nd co3p!ny could not 3!int!in

>K4 in >**I-*K !nd it w!s st!ble in

3p!ny i3proved it to >4 but could

y current r!tio is **->

*1*

->

*0*


11/15



INTERPRETATION

Debt ?uity r!tio deter3ines the soundness of the

outsider:s fund !nd sh!reholder:s fund in the co3p!n

sh!re bec!use debt is !ssu3ed to be less costly source

Aver!&e Debt-?uity r!tio of ndi!n Oil ,orpor!tion 9i

decre!sed in ne@t two ye!rs !s *+> in the ye!r >**

i3prove3ent could not seen in ne@t three ye!rs !nd r

debt fund which is !ssu3ed to be less costly in co3p!ri

TABLE %$ DE

YEAR

>**1-*I

>**I-*K

>**K-*=

>**=-*<

>****-

>*->

S%

INTERPRETATION

Debt to tot!l !ssets r!tio 3e!sure the e@tent to which

debt c!pit!l% the difference between return on !ssets

sh!reholders n the c!se of ndi!n Oil ,orpor!tion the

could not sust!ined !nd 3!r&in!lly decre!sed in ye!r >

ter3 debts !nd tot!l !ssets decre!sed !nd the r!tio !ls

,o3p!ny should use 3ore borrowed c!pit!l to fin!nce

TABLE $

YEAR

>**1-*I

>**I-*K

>**K-*=

>**=-*<

>****-

>*->

S%

INTERPRETATION

6his is ! v!ri!nt of the debt-to-euity r!tio t is !lso

!ssets Propriet!ry / ?uity r!tio indic!tes the lon&-te

reserves !nd surpluses ite3s 6ot!l !ssets include !ll

*

*>

*+

>**1-*

*>=

DE

*

*1

>**1-*I

*+<


http4//i5rc3or&in/

lon&-ter3 fin!nci!l policies of the co3p!ny !nd !lso 3e!sures

.i&h de&ree of debt-euity r!tio indic!tes hi&h de&ree of lever

of fund but !nother side hi&her r!tio !lso incre!ses hi&her level of

3ited is *+I which 3e!ns co3p!ny is not t!in& !dv!nt!&e of

I-*K !nd *0< in >**K-*= !nd it i3proved in the ye!r >**=-*

tio decre!sed up to *0* which lowest in the study period t 3e

son to ownership fund !nd cruci!l to sh!reholders: point of view

T- TOTAL ASSETS RATIO OF INDIAN OIL CORPORATIO LIMITED

LONG TERM DEBT TOTAL ASSETS DEBT- TOTAL ASSETS

,R/( ?= C667 ,R/( ?= 667

IK*1 I**K> *>=

+K>+ IKI0 *>>

I*>> ==I< *>*

>+=+ 1>*I =+K> +0== *>1

K+= 0=1+I *0


!ssets !re fin!nced with the lon& ter3 borrowed c!pit!l (debt c

!nd cost of debt c!pit!l directly &oes to euity sh!reholders w

r!tio continuously decre!sed in the first three ye!rs of the study

***->

o decre!sed to *0% lowest of the study period which is not &ood

its lon& ter3 !ssets

PROPRIETARY RATIO OF INDIAN OIL CORPORATIO LIMITED

ROPRIETARY VALUE TOTAL ASSETS PROPRITARY RATIO

,R/( ?= C667 ,R/( ?= 667

*+<

+=1K IKI0 *1>

*=I ==I< *1*

0**I-*K >**K-*= >**=-*< >****- >

*1> *1* *+I *1 *+=

PROPRITARY RATIO

PROPR6AR2 RA6O

ISSN 0976-2183


1*

the rel!tive invest3ent proportion of

&e which le!ds to incre!se e!rnin& per

solvency ris

debt fund n >**1-*I it w!s *1K but

when r!tio re!ched to *1I but this

ns co3p!ny is not t!in& !dv!nt!&e of

pit!l) f 3ore !ssets !re fin!nced with

ich in turn incre!se the we!lth of the

then incre!sed in the ye!r >**=-*< but

hich is the l!st ye!r of study both lon&

ro3 the c!pit!l structure point of view

rel!tes the sh!reholders funds to tot!l

ds include euity sh!re c!pit!l plus !ll

lders funds !re to be divided by tot!l

->

*0

->

*+>


12/15



t!n&ible !ssets 6his r!tio throws li&ht on the &ener!l

.i&her the r!tio or the sh!re of sh!reholders: fund

propriet!ry r!tio will include &re!ter ris to the creditor

n c!se of ndi!n Oil ,orpor!tion 9i3ited% the r!tio con

fir3 i3proved this r!tio in ye!r >****K-*= >**=-*< >****- >*

>=< 1=0<

>+0* +>* 0*II

S ,R/( P76 EH>?25 /9867

?P" (Rs Per ?uity sh!re)

ISSN 0976-2183


1

the soundness of the c!pit!l structure

ency position of the co3p!ny A low

3 the ye!r >**K-*= to ye!r >*=-*< !nd

o *+= in >**- !nd *+> in >*->

IO

he e!rnin&s not p!id to investors is left

!l &rowth or provide &rowth in future

r p!yout r!tio bec!use c!pit!l &!ins !re

to return 3ore of the e!rnin&s b!c to

h it w!s only **= 6his shows co3p!ny

PS

/( P76 E>?5 /9867

>*=

>=<

=0<

+0*

>*

*II

I><

re!sed over the ye!rs or not t helps into 3e!sure the oper!tin& perfor3!nce

!r but it decre!sed in ne@t two ye!r to

3!int!in this situ!tion in ne@t two !nd

->

>I

->

I>


13/15



http4//i5rc3or&in/

1>

l!st ye!rs of study period n >**- it w!s 0*II !nd I>< in >*-> which is the lowest durin& the period of study which is not &ood fro3 the euity

sh!reholders: point of view 6he over!ll position of e!rnin& per sh!re is &ood !nd showin& the !bility of co3p!ny to use its euity c!pit!l in efficient w!y

CONCLUSIONAfter the study of fin!nci!l !n!lysis of ndi!n Oil ,orpor!tion 9i3ited fro3 v!rious fin!nci!l !spects lie profit!bility% liuidity !nd solvency% !ctivity !nd

invest3ent% it c!n be concluded th!t the profit!bility position of the co3p!ny c!n not be s!id s!tisf!ctory bec!use the #ross Profit R!tio v!ries fro3 0

to 1+ with the !ver!&e of 0>> 6he net profit r!tio of 0>> is not s!tisf!ctory fro3 !ny point of view so co3p!ny should concentr!te on 3ini3i!tion of

the e@penses 6he third 3e!sure of profit!bility t!en in the study is return on invest3ent which v!ries fro3 >*0 to >+= with !n !ver!&e of =IK 6he

return of =IK on invest3ent to the investors c!n be s!id &ood !nd it see3s to be !n !ver!&e return on !ny invest3ent 6he fourth !nd l!st 3e!sure of

profit!bility is return on euity v!ries fro3 IK* to >1 with !n !ver!&e of +I0 which c!n be s!id s!tisf!ctory but co3p!ny need to i3prove the u!lity

of fin!nci!l decision so th!t the we!lth of euity sh!reholder: c!n be 3!@i3ied

6he short ter3 solvency is 3e!sured by the current r!tio !nd uic r!tio 6he ide!l current r!tio is >4 but undoubtedly the ide!l r!tios c!n not be !pplied in

e!ch !nd every industry 6he co3p!ny never even touched the ide!l current r!tio t v!ries fro3 *K4 with !n !ver!&e of K4 which is 3uch less

th!n the ide!l r!tio ,o3p!ny needs to i3prove this r!tio 6he second r!tio of liuidity is uic r!tioE ide!lly it should be 4 n the c!se of the ndi!n oil

corpor!tion li3ited% it v!ries fro3 *1*4 to *K*4 with !n !ver!&e of *I4 As in the c!se of current r!tio the co3p!ny w!s un!ble to even touch the ide!l

uic r!tio durin& the period of the study which 3!y cre!te proble3 to the short ter3 liuidity

6he lon& ter3 solvency is 3e!sured by Debt-?uity r!tio% Debt to 6ot!l Assets r!tio% Propriet!ry r!tio !nd nterest cover!&e r!tio Debt ?uity r!tio of the

co3p!ny v!ries fro3 *0* to *1K with !n !ver!&e of *+I which is 3uch lower !nd shows th!t the co3p!ny is not t!in& benefit of lever!&e As the debt c!pit!l

is presu3ed to be less costly to the euity% co3p!ny should &et benefit by restructurin& its c!pit!l structure 6he second 3e!sure of lon& ter3 solvency is t!en

Debt to 6ot!l Assets r!tio% which v!ries fro3 *0 to *>= with !n !ver!&e of *>0 which shows the solvency position of the fir3 is &ood 6he fir3 c!n fin!nce

3ore !ssets with borrowed c!pit!l to t!e the !dv!nt!&e of so-c!lled less costly c!pit!l 6he third 3e!sure of lon& ter3 solvency t!en is Propriet!ry r!tio which

v!ries fro3 *+> to *1> with !n !ver!&e of *+=% which e@press the less ris of insolvency of the fir3 6he fourth !nd l!st 3e!sure of lon& ter3 solvency is

interest cover!&e r!tio which v!ries fro3 0*1 to *>+ with !n !ver!&e of I> which c!n be s!id s!tisf!ctory !nd co3p!ny is !ble to p!y ch!r&es of interest

6he efficiency in the oper!tion of fir3 c!n be 3e!sured by $i@ed Assets turnover r!tio !nd Corin& c!pit!l turnover r!tio $i@ed !ssets turnover r!tio of

co3p!ny v!ries fro3 1K> to =>K with !n !ver!&e of K+ which c!n be s!id !s &ood !nd shows th!t co3p!ny is usin& its fi@ed !ssets efficiently "econd !nd l!stefficiency r!tio is worin& c!pit!l turnover r!tio which v!ries fro3 * to +=*K ti3es with !n !ver!&e of >= which be s!id s!tisf!ctory

6he invest3ent opportunities in euity sh!res c!n be 3e!sured by Dividend P!yout r!tio !nd ?!rnin& per sh!re $irst dividend r!tio v!ries fro3 **= to *>I with

!n !ver!&e of *>0 which shows th!t co3p!ny is p!yin& &ood dividend !nd co3p!ny h!s &ood opportunities to invest in new pro5ects 6he second invest3ent

r!tio is e!rnin& per sh!re which v!ries fro3 I>< to I>=< which is !lso &ood position !nd shows co3p!ny is !ble to incre!se sh!reholders: we!lth

REFERENCESANNUAL REPORTS

Annu!l Report% Ministry of Petroleu3% ;!rious issues

> Annu!l Reports% BP,9v!rious issues

BOOKS AND JOURNALS

0 Accountin& for decision 3!in&% 6he ,$A university press% '!&!r5un .ills% .yder!b!d

+ Bh!ll! ;7% $in!nci!l M!n!&e3ent% A3ol Public!tion .ouse Pvt 9td 'ew Delhi% Kth

?dition

1 ,h!ndr! Pr!s!nn!% $in!nci!l M!n!&e3ent- 6heory Pr!ctice% 6!t! Mc#r!w .ill%1th

?dition>**0

I #upt! "h!shi7% R7 "h!r3!% M!n!&e3ent Accountin&% 7!ly!ni Pub th

?dition% >**=

K J!in "P% '!r!n& 79% ,ost !nd M!n!&e3ent Accountin&% 7!ly!ni Pub +th ?dition%>**== 7!pil "heeb!% $in!nci!l 3!n!&e3ent%- Pe!rson public!tion 'ew Delhi

**=

7ishore R!vi M% ,ost M!n!&e3ent Acoountin&% 6!@3!n Pub% $ourth ?dition% >**I

> 7ishore R!vi M% $in!nci!l M!n!&e3ent% 6!@3!n Public!tion% Ith

?dition >**=

0 M!heshw!ri D'% M!heshw!ri "7% Accountin& for M!n!&e3ent% ;i!s Public!tion .ouse Pvt 9td% 'ew Delhi% $ irst ?dition >**I

+ Muthus!3yA% #ow!riM% Perfor3!nce Appr!is!l of .indust!n Petroleu3 ,orpor!tion 9i3ited% JR$M (""' >>0-1% issue I% June >*>

1 P!ndey M% $in!nci!l M!n!&e3ent- ;i!sh Public!tion .ouse% 'ew Delhi% <th

?dition% >**1 reprint->***>)% ""'->>0-1K1I>* "h!r3! ;ive% Profit!bility An!lysis of Oil ,o3p!nies of ndi!4 A co3p!r!tive study of O,9% BP,9% .P,9% B""" Journ!l of M!n!&e3ent% issue->% vol->% >*

> ;!n J!3es , .orne- $in!nci!l M!n!&e3ent% Pe!rson Public!tion% 'ew Delhi% th ?dition%>**0#EBSITES

>> wwwbh!r!tpetroleu3co3

>0 wwwbpclco3

>+ wwwdsdw!&ov!u/docu3ent/indi!-oil&!s-report-5!nu!ry->*>>1 wwwindi!nbusinessnicin/industry-infr!structure/industri!l-sector/oil-&!sh3t

>I www3oneycontrolco3/fin!nci!ls/indi!noilcorpor!tion/r!tios/O,

>K wwwpetrofedor&>= wwwpetroleu3nicin


14/15



http4//i5rc3or&in/

10

RE*UEST FOR FEEDB"CK

D786 R7876/

At the very outset% ntern!tion!l Journ!l of Rese!rch in ,o33erce !nd M!n!&e3ent (JR,M) !cnowled&es

!ppreci!tes your efforts in showin& interest in our present issue under your ind perus!l

would lie to reuest you tosupply your critic!l co33ents !nd su&&estions !bout the 3!teri!l published

in this issue !s well !s on the 5ourn!l !s ! whole% on our ?-3!il ie ?=?6


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INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT

Documents

Ijrcm 1 IJRCM 1 Vol 4 2013 Issue 7 Art 10