A Comparative Liquidity Analysis of Indian Paint Companies (2021–2024): A Financial Research Approach

Author(s)	Mr. Ronak Amrutlal Jogiya, Dr. Bhakti Rajendra Raval
Country	India
Abstract	This paper aims to analyze the liquidity position of four leading Indian paint companies—Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India—from 2021 to 2024. Liquidity analysis is critical for assessing a company's ability to meet short-term obligations, which directly affects its operational efficiency and financial stability. Using liquidity ratios like the Current Ratio, Quick Ratio, and Cash Conversion Cycle, this study provides insights into how these companies have managed their working capital in response to industry dynamics. The paper also compares the liquidity trends of these firms, identifying key factors impacting their financial positions during the given period. The analysis suggests that while some companies have maintained robust liquidity despite external challenges, others have struggled with cash flow issues.
Keywords	Liquidity, Financial Health, Paint Industry, Indian Companies, Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel India, Current Ratio, Quick Ratio, Cash Conversion Cycle
Published In	Volume 7, Issue 2, March-April 2025
Published On	2025-04-05
DOI	https://doi.org/10.36948/ijfmr.2025.v07i02.40960
Short DOI	https://doi.org/g9dg36

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