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

27.381

26.331

−1.050

0.325

0.456

2.000

24.604

−2.777

0.134

1.119

2.000

Pre-Tax Profit Margin

4.641

11.262

6.621

0.076

−1.451

-do-

−0.982

−5.624

0.291

0.553

-do-

Net Profit Margin

1.317

8.236

6.918

0.064

−1.546

-do-

−3.808

−5.125

0.308

0.504

-do-

Return on NetWorth

10.842

5.474

−5.368

0.060

1.575

-do-

4.678

−6.164

0.034

1.861

-do-

Return on Capital Employed

7.716

4.644

−3.072

0.002

2.942

-do-

3.874

−3.842

0.001

3.100

-do-

Debt-Equity ratio

0.838

0.891

0.052

0.367

−0.341

-do-

0.859

0.020

0.450

−0.127

-do-