The strategy of mergers and acquisitions (M&A) has historically been regarded as Strategic business decision. This study aims to investigate the financial performance of mergers and acquisitions (M&A) in India over the past three years 2017–2019 selected and after mergers and acquisitions next two years 2021 and 2023 and explores their impact on the accounting-based performance of acquiring companies. The study employed eight key financial measures to assess the outcomes. During the study, data spanning from 2019 to 2020 was collected from diverse sources, comprising 6 M&A datasets, to accomplish this objective. The study revealed that the RG, ROCE, ROA, CR, D/E, EPS and StMr ratios significant which is below the 0.05% significance level except MVA is not statistically validated. Therefore, during M&A management should consider these ratios which will impact on their strategic decisions.