In this study an attempt is made to examine the reasonableness of certain industry-wide accounting data in finding out industry characteristics of 32 industry groups in two digit code belongs to state of Andhra Pradesh according to ASI reports during the period from year 1998-99 to 2012-13.Results show that out of 16 selected industry groups, 12 industry groups are in cluster 1, one industry is in cluster 2, showing good performance, 2 industry groups are in cluster 3, showing average performance and one industry is in cluster 4 showing worst performance with respect to mean and CV of selected financial parameters. The result of this research will definitely useful to the policy makers, especially the government to know the functionality of the different industries working in Andhra Pradesh. © Serials Publications Pvt. Ltd.