A Study on Business Performance of Ayurveda industries in Solan District of Himachal Pradesh

Abstract

newline The engrossment and demand for ayurvedic products is now increasing in the world. This newlineis because of revived significance of ayurvedic products is connected to the ever increasing newlineindication of the injurious side effects of modern synthetic products. This study was done to newlineanalyze the growth performance of Ayurveda industries in the present time. The study was also newlinethrow light on the factors affecting net profit of the Ayurveda units. Multistage random sampling newlinewas used for selection of the study area. From the sampling design 225 respondents from 45 newlineAyurveda industry units were selected for the study. The study was based on the both primary newlineand secondary data. The primary data were collected from pre structured questionnaire which newlinewas intended to gather the data from the respondents. Secondary data was collected from various newlinepublished reports of the industry units and various publications of the Ministry of Industries, newlineGovernment of India. The Data was collected from the year 2020-21. newlineThe Result of the study revealed that average annual growth rate of the pharmaceuticals newlineAyurveda units was found to be increased over the year i.e. 2.62 per cent. The average C.V of newlinerevenue of Ayurveda Pharmaceuticals units was 9.65.The average R2 newlinevalue of Pharmaceuticals newlineAyurveda units was 0.75. Similarly, the average annual growth rate of the cosmeceutical newlineAyurveda units was increased at the rate of 0.80 per cent from the time period of 2010-11 to newline2019-20. The average C.V of revenue realized in cosmeceutical Ayurveda units was 3.22 newlinepercent. The average R2 newlinevalue of the cosmeceutical Ayurveda units was 0.73. The relationship newlinebetween dependent variable (profit) with respect to independent variables (Annual sales, annual newlineproduction, size of the company, age of the company, competition status, advertisement and newlinetypes of products manufactured) was found to be 0.99 with R square of 0.98. The overall average newlinereturn on equity was decreasing in Ayurveda industries from 2017-18 to 2019-20 that is in 2017- newline1