A STUDY ON FINANCIAL PERFORMANCE EVALUATION OF SELECTED CEMENT INDUSTRY IN INDIA USING DU-PONT MODEL


Mr. Arnab Choudhury, Dr Ranjit Kumar Paswan
Department of Commerce, Kazi Nazrul University, Asansol, West Bengal, India
Abstract
This study attempts basically to measure the financial performance of different cement Industry in India for the period 2020-2021 to 2024-2025 by applying Du Pont model. DuPont Analysis break down Return on Equity (ROE) into three components: Net Profit Margin, Asset Turnover, and Equity Multiplier. Six selected Cement industry are used as a sample and data are collected from articles, journal and financial reports. Statistical tools such as average and standard deviation have been used to interpret the data. Hypothesis has been tested by using Two- way ANOVA. The study examined the impact of net profit margin, assets turnover and equity multiplier on ROE by using DuPont approach. The Return on Equity analysis showed that Dalmia Bharat Ltd and JSW Cement Ltd consistently decreased over the analysis period while Others industries like UltraTech Cement, Ambuja Cement, Shree Cement, J.K cement had shown consistence or positive performance in return on equity. However, there are notable difference among the industries in terms of profitability, stability and financial leverage. Overall the study provides valuable insights into the financial performance of the studied Cement industry.
Keywords: DuPont Approach, Financial Performance, Cement Industry
Journal Name :
EPRA International Journal of Multidisciplinary Research (IJMR)

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Published on : 2026-03-19

Vol : 12
Issue : 3
Month : March
Year : 2026
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