ASSESSING FINANCIAL DISTRESS OF GSFC & GNFC OF GUJARAT THROUGH ALTMAN’S Z-SCORE MODEL
Keywords:
Financial Distress, Fertilizer, Bankruptcy, Altman’s Z-Score ModelAbstract
Agriculture is the spine of the Indian economic system. Two-thirds of its population is
engaged in agricultural activities. The success of the ruralzone in India dependslargely on the
fertilizer enterprise. The financial strength of the fertilizer industry is particularly important
to investors, lenders and shareholders. This paper uses the Altman’s Z-score model to predict
the risk of financial distress of Gujarat State Fertilizers and Chemicals Ltd (GSFC) and Gujarat
Narmada Valley Fertilizers Company Limited(GNFC) of Gujarat.For the five-year study period
(2016-17 to 2020-21). The analysis of this paper indicated the GSFC & GNFC financial health
position using Altman's Z-score model.
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