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Receivables Management Practices Followed in Coconut Oil Mills in Western Tamil Nadu

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N. Deepa and T. Samsai

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Indian Journal of Economics and Development
Year : 2016, Volume : 12, Issue : 4
First page : ( 823) Last page : ( 826)
Print ISSN : 2277-5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2016.00214.6

Receivables Management Practices Followed in Coconut Oil Mills in Western Tamil Nadu

Deepa N.*, Samsai T.
Department of Agricultural and Rural Management, Tamil Nadu Agricultural University, Coimbatore-641 003, (Tamil Nadu)

*Corresponding author’s email: ndeepa@tnau.ac.in

JELCodes: L25, L26, M 31, Q 14

Online published on 12 December, 2016.

Abstract
The list of coconut oil mill was collected from Coconut Oil Mill Association and District Industries Centre (DIC) for Western Zone (Tiruppur and Coimbatore) of Tamil Nadu. Five year period from 2009–10 to 2013–14 was considered for evaluating the financial management practices of coconut oil mills in Western Tamil Nadu. The entire study profoundly relied on the interview schedule (receivables management practices) and secondary data (balance sheet, income statement and cash flow statement) from the annual reports of the coconut oil mills. The study results concluded that selection of credit worthy customers would increase the credit sales, which in turn improved the profitability of oil mills. The coefficient of variation of the receivables management practices indicated higher inconsistency in receivables management practices followed by coconut oil mills in Western Tamil Nadu. Hence, the study suggested that the oil mills in inefficient category should take efforts to set up proper credit guidelines to identify the credit worthy customers, which would gear up the financial performance.

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