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AN ANALYSIS OF FINANCIAL HEALTH OF SELECTED COMPANIES IN TEXTILE INDUSTRY IN INDIA USING ALTMAN’S Z SCORE
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Author(s):
RAHUL P., VIPULESH U., DR. MALABIKA DEO
Vol - 9, Issue- 3 ,
Page(s) : 186 - 195
(2018 )
DOI : https://doi.org/10.32804/CASIRJ
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Abstract
Financial distress is a condition in which corporates face financial problems like inability to pay debts on due dates, reduction in profitability etc. Financial distress may gradually lead companies to bankruptcy and liquidation. Indian textiles industry is a major contributor to the GDP in manufacturing sector. This paper studies the financial health of textile companies using Altman’s Z score. The result of the study shows that majority of the textile companies selected for studies were sick for all the three years. It shows the unhealthy condition of textile companies in India.
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