The study analyses the financial management practices adopted by modern rice milling firms in the Kangayam cluster of Tamil Nadu. For study, 40 firms were selected using simple random sampling method and data were collected through personal interviews with the owner / managers of the firm using a pre-tested interview schedule. The data pertaining to the financial performance were obtained from the records maintained by the firms for three financial years, from 2011-12 to 2013-14. The factor analysis and multiple regression analysis were carried out. Significant differences among the fully and partially modernized rice milling firms have been observed in the preparation of cash budget, setting-up credit policy, preparation of inventory budget and review of inventory turnover, capital budgeting in investment analysis and accounting practices. The measures of financial management practices explained 58.4 per cent (R-squared value) of the variation in the profitability measure return on equity.

SUMMARY :In the more past, the concept of Farmer Producer Organizations (FPOs) has emerged as a solution to address the challenges faced by the Small and Marginal Farmers. The base reason for setoff the farmer producer companies noted by various policy papers and research papers were presented in the study. The study utilized secondary data retrieved from SFAC websites, Elseiver scoupus, scienceDirect and EBSCO and analysed. The moving trend of farmer producer companies was explored, while the challenges are what hindering the farmers to go beyond production were reviewed and presented in the paper.

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