Every problem in industry or company has an important bearing on finance. Every attempt is, therefore, made for making certainty the judicious management of finance. In practice, investment, operations and earnings fluctuate. Consequently, financial structure or pattern also changes. Mode of finance conducing to a company's objective of earnings and continued existence is, therefore, very important for assessment of finance. The circumstances induce a company or an industry to undertake structural changes. Importance given to an individual objective in raising finance differs from units to units. As a financial policy, nobody can generalize that working capital should always be financed from specific source because different units have to face different economic situations. Availability of funds in appropriate quantity and variety may be difficult to achieve. Administration of working capital along with fixed capital is very important as short-term survival is a pre-condition for long-term success. Hence, the financing pattern of obtaining finance in a company or in an industry is a compromise of several criteria. This paper attempts to ascertain the size of short-term financing used to finance current assets along with the relative contribution of various sources in the context of Tata Motors Ltd., the reputed company in India.
Prof. Dr. Bilal BİLGİN