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An Analysis of Financial Distress of Selected Public Sector Enterprises of India using Springate Score Model

Author

Listed:
  • Dr. Yagnesh Mohanlal Dalvadi,

    (Professor, PG Department of Business Studies, Sardar Patel University, Vallabh Vidyanagar)

  • Ms. Jyoti Badribhai Pandit

    (Research Scholar, PG Department of Business Studies, Sardar Patel University, Vallabh Vidyanagar)

Abstract

Financially healthy company is able to pay its liability within the time, but sometimes due to internal and external factors company incurred losses and unable to pay its debt. Hence company becomes financially distressed, insolvent or bankrupt. In order to take a corrective steps prediction of financial distress is necessary so in this study the researcher attempts to analyze financial distress of selected public sector enterprises of India by using Springate s score. The Secondary data of Eight listed, worst performer, manufacturing public sector enterprises were collected for the period of six years beginning from 2011-12 to 2016-17. The collected data analyzed by using Microsoft excel software. The result showed that four Public Sector Enterprises are Financial Distressed and four public sector enterprises are financially healthy out of Eight Public Sector Enterprises as per Springate score model.

Suggested Citation

  • Dr. Yagnesh Mohanlal Dalvadi, & Ms. Jyoti Badribhai Pandit, 2018. "An Analysis of Financial Distress of Selected Public Sector Enterprises of India using Springate Score Model," Journal of Commerce and Trade, Society for Advanced Management Studies, vol. 13(1), pages 107-112, April.
    • Handle: RePEc:jct:journl:v:13:y:2018:i:1:p:107-112
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    File URL: http://www.jctindia.org/april2018/v13i1-15
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    More about this item

    Keywords

    Financial Distress; Springate score; Central Public sector enterprises (CPSE); Solvent Company.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East

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