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

20.700

19.827

−0.873

0.539

2.004

0.296

8.512

−12.188

1.344

0.092

2.004

Pre-Tax Profit Margin

8.251

7.556

−0.696

0.422

-do-

0.337

−22.676

−30.928

2.018

0.024

-do-

Net Profit Margin

6.745

5.428

−1.317

1.083

-do-

0.142

−22.280

−29.025

2.149

0.018

-do-

Return on NetWorth

12.859

9.274

−3.584

0.988

-do-

0.164

5.540

−7.318

1.928

0.029

-do-

Return on Capital Employed

8.576

6.054

−2.522

1.634

-do-

0.054

4.226

−4.350

2.742

0.004

-do-

Debt-Equity ratio

1.653

1.598

−0.055

0.139

-do-

0.445

1.508

−0.145

0.341

0.367

-do-