Dr. Swaty Parab’s scientific contributions

Micro, Small and Medium Enterprises (MSMEs) serve as the backbone of any developing country contributing significantly to generate employment and exports. Among these MSMEs, manufacturing enterprises particularly in engineering sector plays an important role. This study focuses on financial performance analysis to bridge the gap between theoretical financial standards and their application in real-world scenarios which provide information for policymakers, investors and government. For the present paper financial data from 23 manufacturing engineering MSMEs over a period of ten years was used for 18 different financial ratios to understand their financial health. By systematically analyzing financial ratios the study identifies ideal financial ratio range and compares the same with the industry standards. For this purpose, KMO Bartlet's test was used to find the financial ratios which best represents the financial health. Further the researcher used paired sample t-test to analyze the calculated ideal ratios with the industry standard which explained that they are 88% correlated and showed a significant positive correlation. Also, most of the engineering enterprises follow the industry standards with some outliers.

In the pursuit of understanding financial distress within the context of Micro, Small, and Medium Enterprises (MSMEs) in India, this research paper utilizes Altman's Z-Score Model to analyze the financial health of selected public listed manufacturing engineering MSMEs for the financial year 2023-24. Financial distress, explains a company's inability to meet its financial obligations, it has been widely studied and researched topic across the world, as highlighted in the literature. This study aims to contribute to this body of knowledge by applying a robust analytical approach, using secondary data from 31 MSMEs, to evaluate the extent of financial distress and its implications. By analyzing financial ratios through the Z-Score model, this research provides insights into the financial stability of these enterprises and potentially identifying risks of bankruptcy. The study explains that most of the micro and small enterprises are under financial distress zone, few medium enterprises are in grey zone and out of total 31 industries only 3 medium enterprises were in safe zone.

India's economy is expanding quickly and the country is becoming a global leader. Even while big enterprises account for a major proportion of GDP, micro, small, and medium-sized enterprises also have continued to make a substantial contribution over the years. The micro, small, and medium enterprises are the backbone of the Indian economy, employing over 11 crore people and accounting for approximately 49.87% of all exports in the country. About 633.88 lakh MSMEs contribute to 28.77% to India's GDP. The study aims the financial performance of small and medium-enterprises in India with special reference to Maharashtra region. The population frame of BSE and NSE listed SMEs in India is projected to be more than 22,000, based on the Prowess IQ database as of 15.8.2023, from which a sample of 10 engineering companies are selected based on market capital for the present study. To understand the liquidity and profitability performance, eight different financial ratios were employed. Appropriate statistical tests such as mean, standard deviation and ANOVA were used on the secondary data collected from the Prowess IQ database for the financial year 2013-14 upto year 2022-23. The majority of medium enterprises did better in terms of profitability performance (return on assets, return on equity, return on capital employed, net profit margin and gross profit margin). The performance of small businesses was high in profitability (price-earnings ratio and yield ratio) and liquidity (current ratio). Overall performance of Medium enterprises was better than compared to small enterprises.

India is growing as a World superpower and the economy is growing at a fast pace. Despite of the fact that large enterprises contribute a large share in GDP, the contribution of micro, small and medium enterprises has also remained significant over years. The micro, small and medium enterprises constitute a backbone of the Indian economy, providing employment to more than 11 crore people and about 49.87% of total exports of India. about 28.77% of India’s GDP is contributed by 633.88 lakh MSMEs(Research & Information Division, 2019). The present study focuses on the financial performance analysis of micro, small and medium enterprises in India. According to Prowess IQ database upto 15.8.2023, the population frame of public listed MSMEs in India is estimated more than 22,000 from which a sample of 333 public listed manufacturing MSMEs were selected based on stratified random sampling method. 14 different financial ratios were utilized to understand the liquidity, profitability, solvency and operating performance. statistical tests like mean, median, range, weighted average, standard deviation and correlation were used to analyze the secondary data which was collected from Prowess IQ database for the financial year 2022-23. The performance was bifurcated into low, medium and high-performance groups. Overall, the performance of micro and small enterprises is very week in India because most enterprises struggle with adequate operations management, which leads to lower profitability and liquidity performance. Keywords: Financial Performance, Ratio Analysis, Micro, Small and Medium Enterprises, MSME, India.

India is growing as a World superpower and the economy is growing at a fast pace. Despite of the fact that large enterprises contribute a large share in GDP, the contribution of micro, small and medium enterprises has also remained significant over years. The micro, small and medium enterprises constitute a backbone of the Indian economy, providing employment to more than 11 crore people and about 49.87% of total exports of India. about 28.77% of India's GDP is contributed by 633.88 lakh MSMEs(Research & Information Division, 2019). The present study focuses on the financial performance analysis of micro, small and medium enterprises in India. According to Prowess IQ database upto 15.8.2023, the population frame of public listed MSMEs in India is estimated more than 22,000 from which a sample of 333 public listed manufacturing MSMEs were selected based on stratified random sampling method. 14 different financial ratios were utilized to understand the liquidity, profitability, solvency and operating performance. statistical tests like mean, median, range, weighted average, standard deviation and correlation were used to analyze the secondary data which was collected from Prowess IQ database for the financial year 2022-23. The performance was bifurcated into low, medium and high-performance groups. Overall, the performance of micro and small enterprises is very week in India because most enterprises struggle with adequate operations management, which leads to lower profitability and liquidity performance.

The micro, small and medium enterprises are like a backbone to Indian economy supporting financially as well as generating employment at large. Up to the year 2022 there were more than 633.8 lakhs estimated MSMEs in India (from survey report in the year 2015-16). The Government of India initiated UDAYAM portal and made it mandatory for MSMEs to register business under the same. To conduct an appropriate academic study in the field, it becomes essential to comprehend the actual situation by comparing the estimated number of MSMEs and the actual number of MSMEs. The present study focus on the comparative study between the estimated and actual number of MSMEs in India, for which secondary data from the Census report of the year 2015-16 and the UDAYAM portal web-data upto end of November 2022 was collected. The data was analysed using cluster-bar diagram and line diagram. Statistical tools like mean, median, standard deviation and Karl Pearson's Product correlation methods were used in data analysis. The study covered all the 37 states and union territories of India especially related to the number of micro, small and medium enterprises. It concluded that there exist a strong correlation between the estimated and actual number of micro and small enterprises whereas weak correlation between estimated and actual number of medium enterprises in India. Above that the data showed that the estimated figures showed that Uttar Pradesh and West Bengal had the highest number of MSMEs but the states of Maharashtra and Gujarat outnumbered in actual.