INTERNATIONAL JOURNAL OF ENGINEERING MANAGEMENT AND
SOCIAL SCIENCES

“The Effect of Mergers and Acquisitions on Business Performance: A Study on the Financial Integration of Larsen & Toubro and Mindtree”

This study examines the effect of Larsen & Toubro's acquisition of Mindtree on business performance, with the objective of evaluating the role of financial integration in enhancing organizational performance and shareholder value. Mergers and acquisitions have become an important strategic tool for achieving business expansion, operational efficiency, market competitiveness, and long-term value creation. The study covers a six-year period comprising three years before the acquisition (FY2016–17 to FY2018–19) and three years after the acquisition (FY2019–20 to FY2021–22). Financial integration is assessed using key financial performance indicators, including profitability, liquidity, solvency, and efficiency ratios, to evaluate the overall business performance before and after the acquisition. The research is based on secondary data collected from the annual reports of Larsen & Toubro and Mindtree, company publications, stock exchange disclosures, and other published financial sources. The collected data are analyzed using financial ratio analysis, descriptive statistics, and a paired sample t-test to compare business performance during the pre- and post-acquisition periods. The findings are expected to provide insights into the effectiveness of financial integration in improving operational performance, financial stability, and long-term shareholder value. The study will be beneficial to investors, corporate managers, financial analysts, policymakers, and researchers in understanding the impact of mergers and acquisitions on business performance in the Indian information technology sector.