A Study on Financial Health of Oil and Natural Gas Corporation

The Indian oil and gas sector is one of the six core industries in India and has very significant forward linkages with the entire economy. India has been growing at a decent rate annually and is committed to accelerate the growth momentum in the years to come. This would translate into India's energy needs growing many times in the years to come. Hence, there is an emphasized need for wider and more intensive exploration for new finds, more efficient and effective recovery, a more rational and optimally balanced global price regime - as against the rather wide upward fluctuations of recent times, and a spirit of equitable common benefit in global energy corporation. The purpose of this study is to study of financial performance, of India’s leading oil and petroleum companies, i.e. Oil and Natural Gas Corporation, for the study. The most common tool of financial analysis Altman’s Z-score to verify the financial health of the petroleum industry. It is concluded that the overall performance of Oil and Natural Gas Corporation found satisfactory in soundness and solvency capacity and investment analysis.