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Attribution Non-Commercial (BY-NC)

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From the quantative data in the table we can see that there was a steady

growth in the production of paint industry was steady till the year 2001 but it had a

remarkable fall in the year 2002 because of less import of raw material and the paint

industry took around 5 years to reach a point where it was in 2001. from 2005 the

industry is witnessing a steady growth in the production of paint. This shows that the

paint industry had witnessed a negative growth of around 10% in the year 2002 and

presently the growth rate in production is approximately 6%.

From the data we can analyze in the year 1999 the export of paint industry

was 2643.8 tonnes and went down in 2000 and then there was a constant rise in the

export from and we see that the export went up to 8909.2 tonnes witnessing a high

increase of 265.99 % in 2003 from a negative increase in export in 2002 and the

export again fell down in 2004 and from then there has been a steady increase in

export and the growth rate was approximately at 37.71% in 2008 which shows that

there is a lot of foreign exchange that is brought by the paint industry.

Since paint industry is a raw material intensive industry there has been a

steady increase in the import of raw materials for paints but there was a dip in the

import in the year 2000-2001 which effected the production of 2002 directly. From

2002 onwards there has been a steady increase in the import and presently the import

is 32781.5 tonnes showing an outflow of cash of approximately Rs. 837 crores.

The Indian paint companies have a tie up with the foreign players thus the threat of

import of paint is not much of a problem but being a raw material extensive industry

there has been a high outflow in terms of import of raw materials.

From the sales data we can conclude that the sales of the paint has been

growing remarkably and there has been no fall in the sale of the industry. Despite a

dip in the production in the year 2002 the sales was not hit and it continued to grow

and presently it is around Rs. 10750 crores. Thus, we see that sales is high showing a

high profitability of the industry and with a increasing disposable income of the

consumer it is expected to increase in the coming years.

The market size of the paint industry has grown over the past ten years. The

growth was steady in the previous years but market size has increased remarkably

from 2005 showing an increase in the growth of market from 10.54% in 2003 to a

remarkable growth in 2007 of 19.88 but though the trend has been an increasing one

but the growth rate has reduced to 15.54% in 2009.

Annexure (Table 6, Graph 6)

there has been an increase in the domestic consumption but the growth rate during the

year 2000 to 2003 has considerably fallen from 13.8% to 4.31% but from 2004 it

started to increase again owing to the fact that product awareness through

advertisements had increased, the product was no more taken just as a luxury product

and the income of the consumers had increased. In 2004 it showed a growth of

10.79% which increased 20.7% in 2007 but due to global economic recession it went

down to 16.1% an 2008 and further down to 15.6% in 2009.

The data shows that sales are inversely related to rainfall. During the monsoon

season the sales of the paint industry goes down pertaining to the fact that due to

rainfall the paint cannot be used. In years with less rainfall the paint industry

witnesses higher sales as compared to the years with higher rainfall.

The influence of rainfall(x) on Sales of paint industry is given by the

regression equation

y= (14427.647) +(-9.002x).

The hypothesis tested with the regression equation is as follows:

H01: b= 0 (no influence of rainfall on sales of paint industry)

H11: b=/0 (influence of rainfall on sales of paint industry)

At 95% confidence level the R2 value is .092. This means that 95% of the influence

of rainfall on sales is explained. The p-value or significance is .221. This value is

more than 0.05. With this null hypothesis is accepted and alternate hypothesis is

rejected. The impact of rainfall on sales is inverse but statistically not significant.

The influence of Sales(x2), Raw Materials (x3), Rent(x4), Advertising(x5),

Travelling(x6), Power(x7), Repairs(x8), Processing Charges(x9), Profit After Tax(x10) is

given by the regression equation

y= (438354.130) + (22.198x2) + (-5.984x3) + (6943.516x5) + (-42427.819x6) + (111.339x7) + (4.692x10)

The hypothesis tested with the regression equation is as follows:

H12: b=/0 (production of paint depends on sales of paint)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of sales in production is explained. The p-value or significance is .939. This

value is more than 0.05. With this null hypothesis is accepted and alternate hypothesis

is rejected.

H13:b=/0 (production of paint depends on cost of raw materials)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of raw material in production is explained. The p-value or significance is .

985. This value is more than 0.05. With this null hypothesis is accepted and alternate

hypothesis is rejected.

H04: b= 0 (production of paint does not depend on rent paid for infrastructure in paint

industry)

H14: b=/0 (production of paint depends on rent paid for infrastructure in paint

industry)

The variable is removed variable as it has insufficient data to calculate the

regression.

H05: b= 0 (production of paint does not depend on advertisement cost incurred by the

paint industry)

H15: b=/0 (production of paint depends on advertisement cost incurred by the paint

industry)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of advertisement cost in production is explained. The p-value or

significance is .05. This value is equal to 0.05. This is the confidence with which null

hypothesis is rejected and alternative hypothesis is accepted. Thus this regression

equation proves that advertising cost influences the production of paint industry.

H06: b= 0 (production of paint does not depend on travelling expenses paid by the

paint industry)

H16: b=/0 (production of paint depends on travelling expenses paid by the paint

industry)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of travelling cost in production is explained. The p-value or significance is .

036. This value is less than 0.05. This is the confidence with which null hypothesis is

rejected and alternative hypothesis is accepted. Thus this regression equation proves

that travelling cost influences the production of paint industry.

H07: b= 0 (production of paint does not depend on power charges paid by the industry

for production)

H17: b=/0 (production of paint depends on power charges paid by the industry for

production)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of power charges in production is explained. The p-value or significance is .

888. This value is more than 0.05. With this null hypothesis is accepted and alternate

hypothesis is rejected.

H08: b= 0 (production of paint does not depend on repairs cost borne by paint

industry)

H18: b=/0 (production of paint depends on repairs cost borne by paint industry)

The independent variable repairs is removed due to insignificance of the data.

H09: b= 0 (production of paint does not depend on processing charges paid by the

industry production unit)

H19: b=/0 (production of paint depends on processing charges paid by the industry

production unit)

The independent variable is removed due to insignificance of the data.

H010:b=0 (production of paint does not depend on profit after tax of the industry)

H110:b=/0 (production of paint depends on profit after tax of the paint industry)

At 95% confidence level the R2 value is .972. This means that 95% of the

influence of Profit After Tax in production is explained. The p-value or significance is

.972. This value is more than 0.05. With this null hypothesis is accepted and alternate

hypothesis is rejected.

The influence of Advertisment Cost on Profit After Tax is given by regression

equation:

y= (-274.991) + (1.000x).

The hypothesis tested with the regression equation is as follows:

H011:b=0( Profit After Tax of paint industry does not depend on Advertisment Cost

incurred by the company)

H111:b=/0 (Profit After Tax of paint industry depends on Advertisment Cost incurred

by the company)

At 95% confidence level the R2 value is .824. This means that 95% of the

influence of Advertisment Cost on Profit After Tax is explained. The p-value or

significance is .000. This value is less than 0.05. This is the confidence with which

null hypothesis is rejected and alternative hypothesis is accepted. Thus this regression

equation proves that advertising cost influences the profit after tax of paint industry.

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