The manufacturing sector is often referred to as the engine of economic growth and development in general because it not only modernises agriculture but also lessens the reliance of the populace on it by creating jobs in the secondary and tertiary sectors. The manufacturing sector transforms raw materials into completed goods. To produce the final goods, labour or machinery are used. The growth of manufacturing industries serves as a barometer for the country's economic standing and prominence. The end of unemployment and poverty in our nation depends heavily on industrial development. By creating enterprises in tribal and other underdeveloped areas, industries play a significant position in reducing regional inequities. The main aim of the study was to conduct a financial analysis of India's manufacturing industry and identify the factors limiting the sector's expansion. This was accomplished by accounting for a number of dependent variables, such as return on assets, and independent variables, such as dividends, earning per share, earning yield, and economic value added. Ten distinct organisations have used panel data throughout a five-year period, beginning in 2019 and ending in 2023. The study came to the conclusion that, at the 1% and 5% significance levels, Return on Assets significantly positively affects Earnings per Share, Earning Yield, Economic Value Added, and Dividend of particular manufacturing companies listed on the Bombay Stock Exchange. According to this study, the manufacturing sector should keep a careful check on its finances and constantly improve its processes and technologies in order to lower production costs, increase sales, and generate more profits—all of which would increase the GDP of the country— given its significant role in the development of the country.