A Comparative Study on Two Decade wide Post-Reform Performance of Indian Glass Companies
With the introduction of economic reforms in 1991, Indian industries have been witnessing profound changes in the basic parameters governing its structure and functioning. Forecast of corporate distress and business failure can contribute considerably to the economy. Financial analysis provides the basis for understanding and evaluating the results of business operation and explaining how well a business is performing. The study investigates the overall financial performance of Indian glass industry in India and also predicts the financial health and viability of the industry. In order to cope up with the objective, we empirically try to reexamine the most commonly referred method in credit risk measurement research, Altman’s Z-score model, by using recent data from 1991-92 to 2009-10. We noticed from our study that most of the glass producing companies inIndia has been caught in a sadistic down cycle confronting a threat to their viability and survival.
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