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The total resources of the business organizations define the size of the operational activities and provide the base for the revenue and availability of the working capital for the business activities. The oil and gas industry provides a base for the manufacturing and processing sector in India. Downstream oil and gas firms play a vital role in processing crude oil and gas and procuring it for final consumers. The study is intended to get the degree and direction of governance of the financial performance of the downstream Indian oil and gas firms. The study is based on secondary data while financial ratios, index numbers, post hoc homogeneity, and correlation are calculated to get the financial performance, movement trend, sensitivity of movement, and governance of the financial performance measures by the total resources in downstream Indian oil and gas firms. The study found that the growth of the total resources affects the profit-earning capacity and return on total resources in downstream Indian oil and gas firms positively but negligibly. There is moderate sensitivity between the growth of total resources and short-term paying ability while no relationship between the total resources and solvency of firms in downstream Indian oil and gas firms. The finding of the study concludes that investment in the total resources can be increased to get the benefits of profitability and profits, ultimately. But, the investment in the smaller downstream Indian oil and gas firms is more profitable than the investment in the larger downstream Indian oil and gas firms.
Ali et al. (Wed,) studied this question.