The main aim of this article is to examine the effect of firms’ specific on the financial performance of Indian firms. The study is based on 1069 firms listed on the Bombay stock exchange for the period from 2011 to 2017. Descriptive statistics, correlation matrix, and regression models are used for analyzing the data. The study found that cost of financial distress, growth opportunities, firms size, and total taxes positively and significantly impact the financial performance of Indian firms measured by return on assets and return on capital employed. On the contrary, asset structure and leverage negatively and significantly impact the financial performance of Indian firms. Most previous studies were based on small samples; this article bridges an existing gap in the literature by covering large data of1069 firms for seven years which make the results of the study to be generalized. The findings of this study have useful implications for policymakers, practitioners, and academicians.