AshEse Journal of Business Management
Vol. 1(2), pp. 010-016, July, 2015
© 2015 AshEse Visionary Limited
Full Length Research
Debasish Sur1* and Kaushik Chakraborty2
1Department of Commerce, The University of Burdwan, Burdwan, West Bengal, India. 2Department of Commerce, Netaji Mahavidyalaya, Arambagh, Hooghly, West Bengal, India.
Received May, 2015; Accepted June, 2015
The role played by the Central Public Sector Enterprises (CPSEs) towards the development of the Indian economy can never be ignored. The country’s growth story, in fact, has strong roots in the form of contributions made by the CPSEs over the years. Since the early 1990s, with the opening up of Indian economy, the Public Enterprises have been exposed to competition from domestic as well as multinational companies. In this backdrop, some studies have been conducted on the analysis of financial performance of Indian Public Enterprises in the recent past. But virtually no comprehensive study has been carried out to deal with the matter relating to the financial performance of the Maharatna CPSEs in India in the recent times considering all the major parameters of financial performance. Only a very few studies on the issue have been carried out in the recent past in which any one or two aspects of financial performance have been taken into consideration. In order to bridge the gap the present study has been conducted in which all the major dimensions of financial performance of Bharat Heavy Electricals Ltd., the only “Maharatna” CPSE in the Indian power equipment manufacturing sector have been analyzed during the period 2004/2005 to 2013/2014. While making this analysis, relevant statistical measures have been used.
Keywords: Maharatna, central public sector enterprises, financial performance, liquidity, working capital management, fixed assets management, profitability, value generating capability.