PRODUCTION CAPACITY UTILISATION AND FINANCIAL PERFORMANCE: A COMPARATIVE STUDY OF TEXTILE ENTERPRISES IN UZBEKISTAN

Production capacity utilisation is an important dimension of manufacturing efficiency, as the economic return on productive assets depends on the extent to which they are actually utilised. This study examines the relationship between capacity utilisation and financial performance in five textile enterprises in Uzbekistan using enterprise-level financial statements for 2020–2024 and available data on physical production capacity. Direct capacity utilisation is calculated for BAKAN TEX, for which data on actual output and designed production capacity are available. The results indicate that physical capacity utilisation, resource utilisation, and financial performance are interrelated but distinct dimensions of enterprise efficiency. BAKAN TEX maintained a high level of capacity utilisation, ranging from 92.7% to 102.0%, while its financial performance varied considerably over the study period. The findings indicate that revenue growth, fixed-asset turnover, and inventory accumulation do not necessarily correspond to improvements in capacity utilisation efficiency, highlighting the importance of combining physical and financial indicators when assessing production capacity utilisation.