Open AccessA STUDY ON FINANCIAL HEALTH OF SELECTED PUBLIC SECTOR MANUFACTURING COMPANIES OF INDIA : WITH REFERENCE TO Z-SCORE ANALYSIS
Author(s) -
Nidhi Sharma,
Shivani Peppal
Publication year - 2021
Publication title -
international journal of advanced research
Language(s) - English
Resource type - Journals
ISSN - 2320-5407
DOI - 10.21474/ijar01/13337
Subject(s) - public sector , business , manufacturing sector , manufacturing , public health , health sector , financial ratio , finance , economics , medicine , marketing , health services , environmental health , economy , population , labour economics , nursing
Financial distressed from a decade has become a common condition for manufacturing companies of India. Many public sector manufacturing companies have also witnessing poor financial health. This study has examined the financial health of eighteen selected public sector manufacturing companies which are further divided into four sectors as Metal, Sugar, Paper and Textile. The examination of financial health of selected companies has been performed by calculating Altman Z-score model for four year prior to become distressed. And it has been found by the analysis that most of the company was in either distressed zone or in grey zone. The study also finds that Altman Z-Score Model is a perfect tool to examine the health of public sector manufacturing companies.