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Application of Altman’s Z Score Model: The Financial Soundness of Sun Pharmaceutical Industries in India


Affiliations
1 Assistant professor of Commerce, Karpagam Academy of Higher Education, Coimbatore, India
2 Assistant professor of Management, Karpagam Academy of Higher Education, Coimbatore., India
3 Professor of Commerce, Karpagam Academy of Higher education, Coimbatore, India
4 Assistant Professor, Department of Business Administration, Arul Anandar College (Autonomous), Karumathur, Madurai-625514, India
 

The Altman Z score is a useful instrument for determining a company's financial strength and bankruptcy risk. The Z score method has been used the study to assess the financial stability of the sun pharmaceutical industries. The ten-year financial data was used to examine both the unique and emerging market formulations of the Altman Z score. This result serves as a welcome signal for internal and external financial statement users in planning and decision-making. The Z score model can aid management in developing effective strategies for future resource control and management.

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  • Neetu Saini and Dr.Sanjeev Bansal (2020) Determination of financial soundness of pharmaceutical companies listed in BSE: the application of Altman's Z-Score model, Journal of Critical Reviews, Vol. 7 (15), Pp-5407-5421.

  • Swalih, M., Adarsh, K and Sulphey, M. (2021). A study on the financial soundness of Indian automobile industries using Altman Z-Score. Accounting, 7(2), 295-298.

  • Dr. G. Kanagavalli and R.Saroja Devi (2018) “Financial Performance of State Bank of Indiaâ€, Universal Review Vol. 7 (XI), pp-393-405.

  • Dr. G. Kanagavalli and R.Saroja Devi (2018) “Financial Performance of Selected Automobile Companies†International Journal of Management (IJM,) Volume 9, Issue 4, July–August 2018, pp. 14–23.

  • Shariq, M. (2016). Bankruptcy Prediction Using the Altman Z-score Model in Oman: A Case Study of Raysut Cement Company SAOG and its subsidiaries. Australasian Accounting, Business and Finance Journal, 10(4), 70-80. doi:10.14453/aabfj.v10i4.6.

  • Morarji, and R.Saroja Devi (2015) “A Study on Financial Status of Ceramic Tiles Ltdâ€, Pezzottaite Journals, International Journal of Applied Financial Management Perspectives, Vol.4 (3), PP- 1842- 1849.

  • Dr. Ramki. R , Dr. Saroja Devi. R , Mrs. Kiruthika R. J (2021) “Comparative Analysis of CSR Practices in BSE, NSE, Public and Private Companiesâ€, International Journal of All Research Education and Scientific Methods (IJARESM), Vol. 9 (4), pp- 513-519.

  • www.sunpharma.com.

  • www.moneycontrol.com


Abstract Views: 97

PDF Views: 63




  • Application of Altman’s Z Score Model: The Financial Soundness of Sun Pharmaceutical Industries in India

Abstract Views: 97  |  PDF Views: 63

Authors

R. Saroja Devi
Assistant professor of Commerce, Karpagam Academy of Higher Education, Coimbatore, India
J. Sudarvel
Assistant professor of Management, Karpagam Academy of Higher Education, Coimbatore., India
R. Velmurugan
Professor of Commerce, Karpagam Academy of Higher education, Coimbatore, India
M. Mahadevan
Assistant Professor, Department of Business Administration, Arul Anandar College (Autonomous), Karumathur, Madurai-625514, India

Abstract


The Altman Z score is a useful instrument for determining a company's financial strength and bankruptcy risk. The Z score method has been used the study to assess the financial stability of the sun pharmaceutical industries. The ten-year financial data was used to examine both the unique and emerging market formulations of the Altman Z score. This result serves as a welcome signal for internal and external financial statement users in planning and decision-making. The Z score model can aid management in developing effective strategies for future resource control and management.

Keywords


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DOI: https://doi.org/10.17697/ibmrd%2F2022%2Fv11i1%2F170324