VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
VIDYASAGAR UNIVERSITY JOURNAL OF COMMERCE
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Amalendu Bhunia<br />
4. Karnataka Malladi Biotics Ltd.<br />
5. Lyka Labs Ltd.<br />
6. Morepen Laboratories Ltd.<br />
7. Pharmaids Pharmaceuticals Ltd.<br />
8. Torrent Gujarat Biotech Ltd.<br />
9. Unjha Formulations Ltd.<br />
10. Vista Pharmaceuticals Ltd.<br />
Mean<br />
S.E. of mean<br />
0.00<br />
-22.26<br />
-18.64<br />
-13.55<br />
-33.76<br />
-12.29<br />
-8.00<br />
66.47<br />
21.02<br />
-3.87<br />
-11.56<br />
-29.21<br />
-1.42<br />
-14.99<br />
-1.36<br />
-0.66<br />
9.80<br />
3.10<br />
Profitability<br />
ratios<br />
Table-6: Statistical results and Discriminant Function<br />
d 2 x 1 d 2 x 2 d x 1 x 2 d x 1 d x 2<br />
ROIR (X 1 ) and<br />
EPS (X 2 )<br />
3170.94 720.74 782.65 - 39.62 25.17<br />
Function D = - 0.0468 X 1 + 0.0662 X 2<br />
Table-7: D-score and ranking of selected companies under the study<br />
Name of the Companies<br />
On the basis of<br />
Liquidity ranking Profitability ranking<br />
Profit-making companies<br />
1. Cadila Healthcare Ltd.<br />
2. Cipla Ltd.<br />
3. Glaxosmithkline Pharma Ltd.<br />
4. Ipca Laboratories Ltd.<br />
5. Lupin Ltd.<br />
6. Nicholas Piramal India Ltd.<br />
7. Panacea Biotec Ltd.<br />
8. Ranbaxy Laboratories Ltd.<br />
9. Torrent Pharmaceuticals Ltd.<br />
10. Wockhardt Ltd.<br />
Mean<br />
Loss-making companies<br />
1. Matrix Laboratories Ltd.<br />
2. Ambalal Sarabhai Enterprises Ltd.<br />
3. Gujarat Themis Biosyn Ltd.<br />
4. Karnataka Malladi Biotics Ltd.<br />
5. Lyka Labs Ltd.<br />
1.6365<br />
3.0529<br />
1.7056<br />
2.6194<br />
2.5818<br />
1.3986<br />
2.5058<br />
1.5287<br />
3.3485<br />
2.8584<br />
2.3236<br />
1.1015<br />
0.8751<br />
0.2970<br />
0.2961<br />
1.1261<br />
10<br />
3<br />
9<br />
5<br />
7<br />
12<br />
8<br />
11<br />
2<br />
4<br />
15<br />
18<br />
19<br />
20<br />
14<br />
1.1336<br />
1.3538<br />
- 0.0725<br />
3.3906<br />
- 0.0386<br />
1.3292<br />
0.0421<br />
0.5440<br />
0.5507<br />
2.3537<br />
1.0587<br />
- 0.9998<br />
0.4718<br />
9.7623<br />
- 0.2562<br />
0.2765<br />
6<br />
4<br />
17<br />
2<br />
16<br />
5<br />
15<br />
9<br />
8<br />
3<br />
10<br />
12<br />
1<br />
18<br />
14<br />
Vidyasagar University Journal of Commerce 105
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