Financial Ratio

3-year Pre-Merger Avg

3-year Post-Merger Avg

Difference (Post-Pre)

Paired test t-value at 0.05 significance

t-critical value (2-tail)

p-value (one tail)

5-year Post-Merger Avg

Difference

(Post-Pre)

Paired test t-value at 0.05 significance

p-value (one tail)

t-critical value (2-tail)

Operating Profit Margin

22.339

22.315

−0.024

0.018

1.977

0.493

17.439

−4.900

1.296

0.099

1.977

Pre-Tax Profit Margin

5.327

9.519

4.192

−1.889

-do-

0.030

−2.546

−7.872

1.189

0.118

-do-

Net Profit Margin

3.580

7.014

3.434

−1.647

-do-

0.051

−4.062

−7.642

1.294

0.099

-do-

Return on NetWorth

9.967

8.947

−1.021

0.448

-do-

0.327

1.695

−8.272

1.388

0.084

-do-

Return on Capital Employed

6.769

6.374

−0.395

0.372

-do-

0.355

5.404

−1.365

1.347

0.090

-do-

Debt-Equity ratio

1.186

1.178

−0.008

0.045

-do-

0.482

1.130

−0.056

0.301

0.382

-do-