Testing Significance Relationship in the Profitability of Select Steel Companies in India

The Indian Iron and Steel industry contributes significantly to the overall growth and development of the economy. As per the estimation of the ministry of steel, the industry today directly contributes to 2% of India's GDP and its weightage in the official index of Industrial Production (IPP) is 6.2%. The industry has been able to shape out a niche for itself globally. From a country with a production of one million tonnes at the time of independence, it has now become the world's 4^th largest producer of crude steel preceded behind China, Japan and the US The study evaluates the profitability level of selected steel companies to know their financial strength and weakness, it will lead to increase financial tactic to compete with international steel producers. In the present study concludes that the profitability of selected steel companies very fair, except few belongs to mid cap companies, they need effort to stabilize their financial position to meet domestic and global competition. The companies belong to same industry differ in maintaining of profitability in various aspects.