ISSN 2394-5125
 

Research Article 


WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das.

Abstract
The sustainability and growth skill of an enterprise is determined by an efficient financial
management. Current asset financing is one of the most complex decisions for a financial manager. Excess of
funds locked up in current assets adversely affects the firmís scope for profitability whereas inadequacy in
working capital may land the firm into serious trouble by landing it towards the risk of meeting its current
obligation schedules. So a sound strategy and systematic approach to management of working capital is required
to support a trade off between profitability and liquidity in an enterprise. The present study is a case study on
working capital management of Numaligarh Refinery Limited (NRL), an emerging and flourishing enterprise in
North East region. Data collected from Annual Reports of NRL for 16 years from 2004-2019 are used for the
purpose. Descriptive statistics and OLS regression is used for the analysis. Johansenís cointegration test and
ARDL models are further used to study the relationship between profitability and liquidity. The study aims at
capturing the present scenario of NRL and the need for reengineering its liquidity management to promote its
mission of long term sustainability and growth in the global arena. Results indicate improvent in the overall
working capital management scenario but at the same time a declining trend in both liquidity and profitability of
the firm in the recent years in comparison to the previous half.

Key words: Short term finance, reengineering, profitability, liquidity, credit policy


 
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Pubmed Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. JCR. 2020; 7(9): 2737-2747. doi:10.31838/jcr.07.09.435


Web Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. http://www.jcreview.com/?mno=125662 [Access: May 30, 2021]. doi:10.31838/jcr.07.09.435


AMA (American Medical Association) Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. JCR. 2020; 7(9): 2737-2747. doi:10.31838/jcr.07.09.435



Vancouver/ICMJE Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. JCR. (2020), [cited May 30, 2021]; 7(9): 2737-2747. doi:10.31838/jcr.07.09.435



Harvard Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das (2020) WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. JCR, 7 (9), 2737-2747. doi:10.31838/jcr.07.09.435



Turabian Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. 2020. WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. Journal of Critical Reviews, 7 (9), 2737-2747. doi:10.31838/jcr.07.09.435



Chicago Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. "WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL." Journal of Critical Reviews 7 (2020), 2737-2747. doi:10.31838/jcr.07.09.435



MLA (The Modern Language Association) Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das. "WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL." Journal of Critical Reviews 7.9 (2020), 2737-2747. Print. doi:10.31838/jcr.07.09.435



APA (American Psychological Association) Style

Nazreen Parveen Ali, Prof.Ashit Saha, Anuj Das (2020) WORKING CAPITAL MANAGEMENT-A CASE STUDY APPROACH WITH SPECIAL REFERENCE TO NRL. Journal of Critical Reviews, 7 (9), 2737-2747. doi:10.31838/jcr.07.09.435