In this paper, we aim to carry out a comparative analysis of the dividend pay capabilities (DPC) of the selected organizations belonging to the Fast Moving Consumer Goods (FMCG) and Consumer Durables (CD) sectors listed in BSE, India during the period FY 2013-14 to FY 2019. We select top 25 companies from FMCG group and top 5 firms from the CD sector on the basis of average market capitalization. For comparison purpose, we have considered six aspects (grounded on the extant theories on dividend policy) such as ownership, size, profitability, growth, liquidity and risk. We have used a new integrated Logarithmic Percentage Change-driven Objective Weighting (LOPCOW) and Evaluation based on Distance from Average Solutions (EDAS) framework for our analysis. The result shows that companies do not show consistent performance over the years. We further have noticed that FMCG organizations show comparatively better capabilities that CD firms vis-à-vis dividend payment. Since, there are considerable variations in the ranking, we apply aggregation methods like Borda Count (BC), Copeland method (CM) and Simple additive weighting (SAW). We use two other popular Multi-Criteria Decision Making (MCDM) methods like multi-attributive border approximation area comparison (MABAC) and the Complex Proportional Assessment (COPRAS) for comparison with our framework to ascertain the reliability of our result.

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The cement industry is important for research due to several reasons: Firstly, the Indian cement industry is the second largest in the world, even larger than the USA. Secondly, cement industry has very strong linkages to the infrastructure sector. There have been few detailed studies of this industry. In this paper, we study how the distribution of cement industry has changed across states due to the decontrol of industry. This is analysed in terms of the changing patterns of inequality as well as concentration. To this end, we use Gini Coefficient to study the regional inequality and Herfindahl Index to study concentration. The Cusum Test is carried out to examine structural breaks. In the paper, we also attempt to identify the significant explanatory variables, which can explain the growth of cement sales in different states. We also provide an economic rationale behind such growth patterns. Some policy implications which follow: construction codes of the government agencies may be modified to encourage the use of blended cement and tax breaks may be given to split plants to make the growth more equitable.

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