Financial statements provide information on the various aspects of financial statements like assets, liabilities on a specified date, revenues and expenses and the net result of operations during the specified period. In order to make the information more useful, such elements which form a part of financial statements have to be analyzed in a systematic manner and thereof after proper interpretation, they may be communicated to its users. Financial statement analysis is largely a study of relationships among the various financial factors in a business as disclosed by a single set of statements, and a study of trends of these factors, as shown in a series of statements. It may also be said that the analysis of financial statements is a study of relationship among various financial facts and figures as set out in financial statements, that is, Balance Sheet and Income Statement. In this descriptive study it has been covered analysis of comparative financial performance of selected tyre companies in India with JK Tyres Industries Ltd by using the different tools are Ratio Analysis to understand and compare the performance of selected Tyre Companies over the five year period and the ANOVA Test has been conducted to test the mean returns of selected Tyre firms and that proved to insignificant. This helped to understand the comparative Analysis of the Financial Performance of the Company.
Financial Performance, Ratio Analysis, Tyre Industry, ANOVA
