Measuring Financial Distress of selected Public Sector Enterprises of India

In this research paper, Researchers have attempted to compare the results of financial distress models (Zmijewski X score, Springate S score, Grover G score) of six loss making manufacturing Public Sector Enterprises which were listed in Bombay Stock Exchange of India by using secondary data collected from their Annual Reports for the study period of 5 years from 2011-12 to 2015-16. The result revealed that as per X score, S score and G score, two companies, four companies and one company is financial distressed respectively. While doing comparison of all three models, it was revealed that only one company named HOCL was financially distressed. Hence, by maintaining proper working capital & increasing profit and sales, companies can be saved from bankruptcy.