Examining the dependence of textile company performance on macroeconomic variables

Author:

AKSHATHRAJ JAIN1,STEGĂROIU CARINA-ELENA2,STEGĂROIU VALENTIN3,NARENDRA SHETTY PRATIK1,ABHAYA KUMAR KEPULAJE1

Affiliation:

1. Department of Business Administration, Mangalore Institute of Technology & Engineering, Moodabidri, India

2. Faculty of Economic Science, University Constantin Brancusi, Tg. Jiu, Romania

3. Titu Maiorescu University of Bucharest, Faculty of Law and Economic Sciences, Tg. Jiu, Romania

Abstract

The textile sector in India has good fundamentals and has become an interesting sector for equity investors. The performance of textile companies in India is volatile in the market for various reasons. This study aims to examine the dependence of Indian textile company performance on macroeconomic variables. Based on the market capitalisation, the top 10 textile companies were selected as samples for the study, the annual net profit ratio, return on asset ratio, operating ratio and the earning per share data of selected companies were collected from 31st March 2004 to 31 st March 2021. For the same period, the Inflation, Crude oil price, GDP of the service sector, GDP of the manufacturing sector and the GDP of the agricultural sector in India were gathered. The results of multivariate regression analysis revealed that the changes in Inflation, GDP from agriculture and GDP from the service sector are affecting the performance of textile companies in India.

Publisher

The National Research and Development Institute for Textiles and Leather

Subject

Polymers and Plastics,General Environmental Science,General Business, Management and Accounting,Materials Science (miscellaneous)

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