Liquid Ratio Research Articles

DIVING DEEP INTO FIN- TECHS: AN EXAMINATION OF ONE 97 COMMUNICATIONS LTD. (PAYTM) FINANCIAL PERFORMANCE

India has seen rise in the number of the Fin -Techs as a part of Start Ups project coming up. Need to analysis the financial statements of such start ups becomes an important task as many stakeholders as being connected directly or indirectly with the company. In this study the financial statement analysis of ONE 97 COMMUNICATIONS Ltd. popularly well known as Paytm was done in the context of profitability and financial stability ratios using the data for the period of 2 years since its listing of the Stock Exchanges. Results showed that there are positive trends in the reduction of loss magnitudes and improvements in operational efficiency. It is crucial for the company to continue its efforts to enhance profitability, manage costs, and work towards achieving positive returns for both assets and equity. On side of financial stability the company has a healthy current and liquid ratio, indicating strong short-term liquidity but the position still needs to be continued for a long term to see a better and positive picture.

Liquidity Analysis of selected Indian Electronics Companies

Liquidity is a position of any business to settle down its obligations within a year i.e., short-term dues. When a business has an adequate amount of current assets, it can easily pay-off its obligations without any external borrowings. And so, analysis of liquidity is preferably done by stakeholders. The liquidity of a business can be measured with the help of financial ratios like current ratio, quick ratio, absolute liquid ratio and net working capital ratio. In this research paper, analysis of liquidity of selected Indian electronics companies has been done on the basis of current ratio and quick ratio. It has been found that Bharat Electronics Ltd (BEL) has sound liquidity position as compared to other companies for the period under study.

An integrated approach using discrete event simulation and design of experiments for working capital management in the fuel retail trade

ABSTRACT This study introduces an innovative approach to Working Capital Management (WCM) in the fuel retail sector, using Discrete Event Simulation (DES) and Design of Experiments (DOE). Efficient WCM is essential for small businesses, particularly in fuel retailing with its tight margins and intense competition. Unlike static financial tools relying on historical data, DES interacts with indicators such as Working Capital Requirement (WCR) and Liquidity Ratios, providing stochastic and accurate information. The study examined three variables (Supplier Payment Deadline, Credit Card Receipt Deadline, and Customer Payment Profile) across 16 experimental scenarios. The Payment Term to Suppliers emerged as the key factor in reducing WCR. Despite lower liquidity potential, the company balanced short-term obligations, identifying optimal WCM scenarios. The study shifts WCM analysis from static data to forecasted, real-time data, supporting dynamic business decision-making. It concludes that DES is a valuable tool for effective WCM in fuel retail, encouraging further research.

Developing theoretical models for effective debt service management in high-volatility industries: a focus on risk mitigation and financial stability in the oil and gas sector

Effective debt service management is crucial for maintaining financial stability and mitigating risks in high-volatility industries, particularly in the oil and gas sector. This abstract explores the development of theoretical models aimed at enhancing debt service management practices in such industries. The oil and gas sector is inherently exposed to price volatility, geopolitical uncertainties, and regulatory challenges, necessitating robust strategies for managing debt obligations. This review emphasizes the importance of integrating risk mitigation techniques into debt service management frameworks to safeguard against financial distress and optimize capital structure efficiency. Key theoretical models examined include proactive debt restructuring, dynamic financial modeling, and scenario analysis tailored to the cyclical nature of the industry. These models emphasize adaptive strategies that enable companies to adjust debt repayment schedules based on market conditions and cash flow projections. Additionally, financial stability metrics such as debt-to-equity ratios, liquidity ratios, and debt coverage ratios are utilized to gauge the sector's resilience to external shocks. Incorporating risk management principles into debt service management frameworks enhances decision-making processes, facilitates early detection of financial vulnerabilities, and ensures alignment with long-term strategic goals. Case studies and empirical data illustrate the practical application of theoretical models in optimizing capital allocation and maintaining investor confidence amid industry fluctuations. The theoretical insights presented contribute to a comprehensive understanding of effective debt service management in high-volatility industries, highlighting the role of financial prudence and strategic foresight in sustaining operational resilience. Recommendations are provided for industry practitioners and policymakers to enhance regulatory frameworks, promote transparency, and foster sustainable growth in the oil and gas sector.. Keywords: Debt Service Management, Risk Mitigation, Financial Stability, Oil and Gas Sector, High-Volatility Industries, Theoretical Models, Debt Restructuring, Financial Modeling, Scenario Analysis, Capital Structure

Directional enhancement of underwater impact and bubble loads in neighbor two-phase fluid domains charge

The loading characteristics of underwater explosions and the dynamic behavior of bubbles are directly related to the charge structure. This study proposes a unique charge structure in a gas–liquid two-phase fluid domain. Numerical methods are used to investigate the effects of fluid layer thickness and gas–liquid ratio on underwater explosion shock wave load, bubble dynamics, and bubble pulsation load. The results show that the two-phase fluid layer significantly enhances the directional release of shock wave energy and bubble pulsation load. During the shock wave phase, a lagging wave effect appears in the liquid layer direction, causing a secondary high-energy shock, significantly increasing the specific impulse. The gas layer direction may form a pressure relief channel effect, enhancing the shock wave peak pressure. For the bubble motion phase, differences in the physical properties of the fluid layer medium lead to irregular bubble boundary movements, promoting bubble tearing and rupture. The gaseous medium converts the accumulated shock wave energy into the internal energy of the bubble, increasing its volume potential. Although this characteristic reduces the pulsation frequency, it significantly increases the specific impulse. Altering the fluid layer medium can control explosion loads and bubble movement, offering new insights for ocean engineering applications.

Performance of Closed-Ended Mutual Funds: A Test of Market Efficiency

Background: Mutual funds, known for aggregating funds from a diverse investor base, play a crucial role in managing small funds smartly. This study evaluates the performance of selected closed-ended mutual funds and examines market efficiency in Nepal. Methods: Using a descriptive and casual-comparative research design, the study spans forty-eight months from January 15, 2018, to January 14, 2022. Monthly data from five mutual funds are analyzed, with metrics such as the Treynor ratio, Sharpe ratio, and Jensen alpha. The study variables include market returns, assets, expense ratios, fund age, liquidity, and mutual fund returns. Various statistical tests, including correlation analysis, Integrated Ranking Analysis, ANOVA test, t-test, and P-value tests, are conducted to determine the significance and statistical relevance of the study variables. Results: The findings reveal that mutual fund performance is influenced by factors such as return, age, liquidity, asset, and expense ratio. Expense ratio and age emerge as the most impactful factors, demonstrating a statistically significant relationship with market return (p < 0.05). All selected mutual funds outperform the market return (NEPSE), with Sanima Equity Fund securing the top rank in all three measures. Conclusion: The Sharpe ratio, Treynor ratio, and Jensen alpha measures for mutual funds surpass those of the market, indicating market inefficiency in its semi-strong form. Novelty: This study uniquely evaluates closed-ended mutual funds using comprehensive performance metrics, demonstrating their significant outperformance compared to market benchmarks. It underscores their effectiveness in actively managing passive funds and challenges the efficient market hypothesis.

Optimization of White Tea Flavanol Extraction Process by the Ultrasonic‐Assisted Deep Eutectic Solvent Method and Determination of the Antioxidant and Antibacterial Activity

ABSTRACTFlavanols have a variety of health benefits and biological activities and become the hotspot of the food development and research. In this research, flavanols were extracted from white tea by ultrasonic‐assisted deep eutectic solvent (DES) method. High‐performance liquid chromatography was used to determine the content of flavanols. The influence of four factors on the flavanol extraction yield was analyzed by single factor experiments, including deep eutectic solvent mole ratio (the mole of hydrogen bond acceptors: the mole of hydrogen bond donors), solid–liquid ratio (white tea sample weight/g: the volume of DES/mL), extraction time and extraction temperature. On the basis of single factor experiments, the factors which had significant effects on the flavanol extraction yield were further optimized by the response surface test. The results showed that the optimized extraction conditions were as follows: the mole ratio of DES 1: 4 (choline chloride: 1,2‐propanediol), the solid–liquid ratio 1:30, the extraction temperature 56°C, the extraction time 53 min, and the ultrasonic power 341 W. Under the above parameters, the extraction yield of white tea flavanols was 9.63 mg/g. After purification with macroporous resin, antioxidation and antibacterial experiments were carried out. The results showed that the antioxidant and antibacterial effects of white tea flavanols were remarkable. The antibacterial effects performed best on Escherichia coli, followed by Bacillus subtilis and Staphylococcus aureus. The maximum diameter of the antibacterial zone on Escherichia coli was 0.95 ± 0.11 mm. The best radical scavenging rates of OH, ABTS+ and DPPH were 97.1%, 97.5%, and 88.4%, respectively, when the flavanol concentration was 9.5 mg/mL. The conclusions of this research can provide theoretical foundation for the further study of white tea flavanols.

Risks and Financial Indicators in Managing Bank Liquidity in Islamic Banks: A Case Study of Asia Islamic Bank for Finance and Investment in Iraq

The aims of this study to demonstrate the importance of liquidity indicators and the role of liquidity management in addressing liquidity risk and achieving alignment between the bank's objectives of maximizing profitability, determining an optimal level of liquidity and providing security for depositors and shareholders by following specific strategies and working according to specific mechanisms to achieve harmonization and alignment between its objectives Foremost among them is the forecasting, planning and follow-up of the volume and timing of cash flows, early disclosure of possible deficits and surplus cash balance and planning for investing surplus. In addition to using the financial ratios of the legal reserve, the legal liquidity ratio and the cash balance ratio through which the liquidity risk can be addressed and the bank's objective of securing optimal cash liquidity, maximizing profitability and providing security to the parties dealing with it can be achieved. Liquidity management should also pay attention to creating compatibility, balance and harmonization in the management of assets and liabilities and the role of reserves in securing liquidity.

How the Macroeconomic and Financial Structure Affects the Firm Value of a Large Telecommunication Company in Indonesia

TELKOM's strategic initiative, referred to as 5BM, acknowledges the company's considerable assets but notes that it has not yielded substantial profits. To address this, TELKOM has devised this strategy to improve its firm value. This study seeks to contribute to this goal by conducting research focused on analyzing the company's financial structure and evaluating the effects of financial structure, considering macroeconomic factors like interest rates, to enhance its overall value. The research employs a quantitative approach, using TELKOM’s financial data from 2014 to 2024, with variables such as firm size, liquidity ratio, leverage ratio, investment opportunity, efficiency level, profitability, and interest rates. The study applies multiple linear regression to assess the relationships between these independent variables and firm value, using Tobin’s Q as a measure of firm value. Descriptive statistical analysis is also conducted to summarize the characteristics of each research variable. Findings reveal that leverage negatively affects firm value, while firm size, liquidity, investment opportunity, efficiency level, and profitability have positive impacts. Although interest rates and dividend policy also contribute to firm value, their effects are not statistically significant. These results provide insights into the importance of TELKOM's financial structure in enhancing its market valuation

Efficient Extraction and Analysis of Wheat Straw Lignin by Response Surface Methodology

To enhance the high-value utilization of straw waste and achieve efficient lignin extraction, wheat straw was selected as the feedstock for investigating the effects of reaction temperature, reaction time, solid–liquid ratio, and formic acid concentration on lignin yield using a formic acid/acetic acid solvent system. A single-factor experimental design was initially employed, followed by optimization using the response surface methodology. Additionally, a kinetic model was developed to describe lignin extraction kinetics in the formic acid/acetic acid system. The structural characteristics and thermal stability of the extracted lignin were analyzed via FTIR, UV spectroscopy, and TGA. The findings indicate that increasing reaction temperature, reaction time, solid–liquid ratio, and formic acid content all significantly enhanced lignin extraction yield from wheat straw, with the primary influencing factors being reaction temperature > solid–liquid ratio > reaction time > formic acid content. The optimal extraction conditions were identified at a reaction temperature of 90 °C, a reaction time of 3.5 h, a solid–liquid ratio of 1:16.5, and a formic acid content of 86.2 wt.%, yielding a lignin content of 79.83%. The analytical results demonstrated that the extracted lignin preserved the structural integrity of the original lignin and exhibited good thermal stability.

Investigation of dissolution kinetics of colemanite in propionic acid solutions

ABSTRACT Colemanite is one of the raw materials used to produce boron compounds which have a constituent of the richest composition ratio boron trioxide ( B 2 O 3 ) . The main purpose of this study is to investigate the dissolution kinetics of colemanite in a propionic acid solution. Reaction temperature, solid–liquid ratio, propionic acid concentration, stirring speed, and particle size were chosen as relevant parameters in the dissolution. According to the results of the study, the dissolution rate was directly proportional to the rise in the reaction temperature and inversely proportional to the increase in the solid–liquid ratio, acid concentration, and particle size. Additionally, it was observed that stirring speed did not significantly effect. Experiment results were correlated with the use of the Statistica10 software programme for linear regression. For the dissolution kinetics of colemanite, a model that can control the reaction was obtained by using homogeneous and heterogeneous reaction models. It was determined that the dissolution rate of the process was controlled by diffusion through the product film (ash) and the Activation energy was calculated as 37.51 kJ . mo l − 1 . Experimental data were analyzed with graphical and statistical methods, and a semi-empirical mathematical model was determined, which included the parameters of the study.

Mechanistic insights on stabilization and destabilization effect of ionic liquids on type I collagen fibrils

Tuned assembly of collagen has tremendous applications in the field of biomedical and tissue engineering owing to its targeted biological functionalities. In this study, ionic liquids choline dihydrogen citrate (CDHC) and diethyl methyl ammonium methane sulfonate (AMS) have been used to regulate the self-assembly of collagen at its physiological pH by probing the assembled systems at certain concentration ratios of ionic liquids and the systems were studied using various characterization methods. Due to interaction with collagen, choline dihydrogen citrate causes delay in the collagen fibrillisation process showing no binding interactions with collagen. In contrast, diethyl methyl ammonium methane sulfonate shows crosslinking effect on collagen fibrillisation due to the electrostatic interaction with the tetrahedral hydration shell of collagen moieties. From rheological studies it was observed that the AMS treated collagen fibril at 1:1 % (w/v) has highest linear viscoelastic range, this can bear the stress under high strain compare to native collagen fibril as well as all CDHC composites. For a sustainable biomaterial or bio-scaffold, mechanical property plays pivotal role on it and from our experimental analysis we found certain composites of ionic liquid treated collagen fibrillar assembly which may act as a sustainable biomaterial or bio-scaffold. It was also evolved that, how the structure-function relationship of ionic force modulated fibrillar assembly controlling the mechanical properties of the tuned system. This self-assembled, ionic-liquid treated collagen-fibrillar system would accelerate various force modulated fibrillar network study, for mimicking the ECM and tissue engineering application.

Covid-19 Pandemic: Is there any impact on the Agribusiness Index?

This study aims to determine if there was an increase in financial performance among companies in the Agri sector listed on the Indonesia Stock Exchange during the COVID-19 pandemic. A quantitative descriptive approach was used, analyzing secondary data from financial reports of Agri index companies for 2019 (pre-pandemic) and 2020 (during the pandemic). The research variables include the liquidity ratio (current ratio), leverage (debt-to-equity ratio), profitability (return on assets), and activity ratio (receivable turnover). The study found both increases and decreases in the financial performance of the sample companies across these variables. The findings provide insights for investors and stakeholders regarding the opportunities and risks in Indonesia's Agribusiness sector during the pandemic.

Comparison and Optimization of Three Extraction Methods for Epimedium polysaccharides

Epimedium is used in traditional Chinese medicine. Epimedium polysaccharides have a variety of physiological properties. This study compared three different processes for the extraction of polysaccharides from Epimedium spp., including ultrasonic, aqueous enzymatic, and microwave extraction, to optimize the extraction conditions and determine the optimal extraction method. The optimal parameters for each method were analyzed. The results showed that the optimal process for ultrasonic extraction was an ultrasonic power of 250 W, an extraction time of 60 min, a temperature of 50 °C, and a solid–liquid ratio of 1:35. The optimal conditions for the aqueous enzymatic method were a papain concentration of 70 U/mL, extraction time of 70 min, a temperature of 50 °C, and a material-to-liquid ratio of 1:30, while those for microwave extraction were a microwave power of 650 W, an extraction time of 50 min, a temperature of 40 °C, and a material-to-liquid ratio of 1:25. The polysaccharide yields were 4.85%, 4.72%, and 3.98% for the three methods, respectively, indicating that ultrasonic extraction resulted in the highest yield of polysaccharides from Epimedium brevicornum. After purification with DEAE-cellulose, the polysaccharide yields were 4.13%, 3.67%, and 3.12%, respectively. A comprehensive comparison demonstrated the superiority of the ultrasonic extraction method in terms of both extraction yield and purification efficiency. Characterization of the extracted Epimedium polysaccharides showed the presence of five monosaccharides, i.e., glucose, galactose, mannose, galacturonic acid, and rhamnose, and a number average molecular weight Mn of 1.65 × 105 Da and weight average molecular weight Mw of 6.61 × 105 Da. These results provide a scientific basis for the in-depth study and application of Epimedium polysaccharides.

A Financial Analysis and Valuation of Shell

In todays era of global energy transition, the strategic choices made by energy giants like Shell carry immense significance, shaping not only their own future blueprint but also profoundly influencing the overall energy sectors trends. The article provides a comprehensive analysis of Shell plc with liquidity, solvency, profitability, and valuation analysis of 2023 with its main competitors in the oil and gas industry. Despite facing challenges from fluctuating commodity prices and regulatory changes, Shell maintains a competitive advantage and favorable market position. The company demonstrates robust financial health, with strong liquidity, solvency, and profitability ratios compared to industry peers. Nevertheless, the analysis reveals the companys profitability ratios lag behind competitors, indicating room for improvement. Although facing uncertainties in future commodity prices and regulatory environments, the analysis highlights Shells commitment to balancing environmental goals with shareholder value, as evidenced by its energy transition strategy. Shells stock is still fairly valued according to the analysis, presenting a compelling investment opportunity with its well-constructed financial framework. Overall, Shells strategic plans and adjustments aim to ensure resilience and adaptability, promising investors sustainable development amidst evolving market dynamics.

The Impact of Solvency and Liquidity on Going Concern Audit Opinion

Purpose: This research aims to examine how a company's ability to meet its financial obligations and maintain adequate cash flows influences an auditor's assessment of going concern uncertainty for manufacturers listed on the Indonesia Stock Exchange.Method: A quantitative analysis of secondary data was performed using financial information from 228 randomly selected manufacturing firms traded on the Indonesia Stock Exchange. Logistic regression was used to analyze the effect of solvency metrics and liquidity ratios on going concern audit opinions.Findings: The study uncovered that both decreasing solvency and dwindling liquidity have a statistically significant negative correlation with avoiding a going concern flag. Lower ratios for meeting debt obligations and maintaining cash were associated with a higher likelihood of an auditor expressing doubt about a company's ability to continue as a going concern.Novelty: This research provides new insights into the role of solvency and liquidity in shaping auditors' decisions within the context of manufacturing companies in Indonesia, contributing to the broader literature on financial stability and audit practices in emerging markets.Implications: The study’s findings suggest that companies should prioritize maintaining strong solvency and liquidity positions to avoid receiving going concern audit opinions. For auditors, the research underscores the need to closely monitor these financial metrics when assessing a company’s ability to sustain operations, particularly in emerging economies like Indonesia.

Extraction, Characterization, and Antioxidant Activity of Eucommia ulmoides Polysaccharides.

Herein, the ultrasound-assisted extraction conditions affecting the yield of EUPS (Eucommia ulmoides polysaccharide) were analyzed using a Box-Behnken response surface design. The alleviation effect of EUPS on diquat-induced oxidative stress in mice was also studied. A maximum EUPS yield of 2.60% was obtained under the following optimized conditions: an extraction temperature of 63 °C, extraction time of 1 h, and ratio of liquid to raw materials of 22:1. EUPS exhibited strong 1,1-diphenyl-2-picryl-hydrazyl (DPPH) radical-scavenging ability (87.05%), 2'-Azinobis-(3-ethylbenzthiazoline-6-sulphonate) (ABTS) radical-scavenging ability (101.17%), and hydroxyl radical-scavenging ability (62.92%). The administration of EUPS increased the activities of superoxide dismutase, catalase, and glutathione peroxidase and decreased malondialdehyde levels in the livers of mice exposed to diquat. EUPS may inhibit the downregulation of NAD(P)H:quinoneoxidoreductase 1 and heme oxygenase 1 mRNA expression in the livers of diquat-administered mice through the Nrf2-Keap1 signaling pathway. Moreover, the abundance of Firmicutes and Ligilactobacillus was enhanced, whereas that of Helicobacter decreased in the gut of the remaining groups of mice compared with that of the diquat-treated mice. Therefore, EUPS exhibited an antioxidant effect and improved oxidative stress and intestinal flora abundance in mice.

An Evaluation of Assets Quality of Selected Public and Private Sector Banks in India

The banks performance within a nation needs to be thoroughly assessed, as it plays a crucial role in influencing the country's economic health. This study aims to analyse and evaluate the asset quality of sample Indian public and private sector banks over a ten-year period, from the year 2013-14 to 2023. Banks were chosen based on their market capitalization and net profit, including major public sector banks such as SBI, BOB, and PNB, alongside leading private sector banks like HDFC, ICICI, and KOTAK Bank. The financial performance analysis employs the CAMEL rating model, focusing on the acronym "E." The CAMEL model parameters include Capital Adequacy Ratios (C), Asset Quality Ratios (A), Management Efficiency Ratios (M), Earnings Quality Ratios (E), and Liquidity Ratios (L). The results are analyzed using descriptive statistics. Data for this study were gathered from bank websites, and the CAMEL Model Asset Quality Ratios were applied after processing and organizing this information. Hypothesis testing involved calculations using simple averages and One-way ANOVA. The analysis of the data indicated that private banks excelled in all the ratios of the Asset Quality Parameter than the public banks. Hypothesis testing showed that there is no significant difference between the performance of public and private sector banks when it comes to the asset quality parameter.

Financial Performance Analysis Reviewed from Liquidity, Solvency and Profitability Aspects

This research was conducted to analyze the financial ratios of PT Berlina Tbk during the period 2019 to 2022 see the company’s ability to use ratios. This research uses secondary data by utilizing financial reports and company reports. The analytical tool used in this research is liquidity, solvency, and profitability ratios. Based on the results of this research, it can be seen that the level of PT Berlina Tbk liquidity ratio, which is assessed by the average current ratio of 71,04%, cash ratio of 6,06%, and quick ratio of 44,16%, is considered illiquid. The solvency level of PT Berlina Tbk, which is assessed from the average debt to assets ratio of 59,57%, debt to equity ratio of 147,80%, and long-term debt to equity of 64,38%, is also considered not solvable, where the average calculation results the ratio is in poor condition and does not meet industry ratio standards. And for PT Berlina Tbk profitability level which is assessed from an average gross profit margin of 3,43%, net profit margin of 15,43%, and return on assets of 8,40%, which is considered less efficient, there needs to be a policy so that the profits obtained are more efficient.

Utilization of circulating fluidized bed coal ash in autoclaved aerated concrete manufacture by mineral carbonation

Using circulating fluidized bed combustion (CFBC) ash discharged from thermal power plants, we identified factors affecting mineral carbonation to sequester CO2 and produced autoclaved aerated concrete (AAC). To use CFBC ash as a raw material for AAC, free-CaO, which causes volume expansion, was replaced through hydration and carbonation. During the raw material replacement process, carbonation behavior was confirmed through pH and temperature. A Ca(OH)2 to liquid ratio similar to a fly ash to liquid ratio of 0.25 is considered to provide sufficient diffusion distance, and the reaction rate may increase due to the rise in water temperature caused by Ca2+ leaching. Additionally, the results of XRD, XRF, TG-DTA, and SEM analyses indicate that hydration and carbonation reactions were stably achieved in the materials, suggesting that CO2 sequestration allows the materials to be used as alternative raw materials. After identifying the characteristics of the CFBC ash and the substituted material, AAC was manufactured through pressurized carbonation. The weight change rate, carbonation depth, ventilation rate, pore structure, and compressive strength of the manufactured AAC were measured. As a result, the alternative raw material exhibited higher permeability and a larger pore size range in the specimens compared to the original material, indicating easier CO2 penetration into the specimens. Consequently, this experiment suggests the potential of using the material in AAC production by providing a theoretical basis for solving volume expansion issues associated with concrete admixtures and CO2 sequestration in waste materials.