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

18.349

19.176

0.827

−0.547

0.293

1.991

11.743

−6.607

0.978

0.166

1.991

Pre-Tax Profit Margin

5.842

8.229

2.387

−1.443

0.076

-do-

−3.788

−9.630

1.090

0.140

-do-

Net Profit Margin

5.364

6.104

0.740

−0.659

0.256

-do-

−4.264

−9.628

1.379

0.086

-do-

Return on NetWorth

9.268

11.681

2.412

−0.798

0.214

-do-

−0.676

−9.945

0.955

0.171

-do-

Return on Capital Employed

6.008

7.722

1.715

−1.019

0.156

-do-

6.620

0.613

−0.383

0.351

-do-

Debt-Equity ratio

1.460

1.399

−0.061

0.208

0.418

-do-

1.345

−0.115

0.366

0.358

-do-