Working capital management is a critical component of corporate financial management because it influences a firm's ability to meet short-term obligations while generating sustainable returns. This study examines the relationship between working capital management, profitability, and liquidity, with particular focus on manufacturing and Fast-Moving Consumer Goods (FMCG) sectors. The research framework considers indicators such as the current ratio, quick ratio, inventory conversion period, receivables collection period, payables deferral period, cash conversion cycle, and working capital turnover. Profitability is assessed through measures such as return on assets and operating profit margin, while liquidity is evaluated using current and quick ratios. The study proposes a comparative empirical analysis based on secondary financial information of selected companies from the two sectors. Correlation and regression analysis can be applied to examine the association between working capital efficiency and financial performance. The study is intended to identify how efficient management of inventory, receivables, payables and cash can contribute to profitability without compromising adequate liquidity. The findings are expected to provide useful insights for finance managers, investors and researchers regarding short-term financial management and sector-specific working capital practices.

Sahil Devidas Vaidya, Dr. Ujwala Narkhede, "Impact of Working Capital Management on Corporate Profitability and Liquidity: An Empirical Analysis of the Manufacturing and FMCG Sectors" International Journal of Scientific Research and Engineering Development, V9(5): Page(593-597) September - October 2026. ISSN: 2581-7175. www.ijsred.com. Published by Scientific and Academic Research Publishing.