Charmy Gandhi
A
financially sound firm is capable of paying its obligations in a timely manner;
yet, owing to internal and external conditions, the company may experience
losses and be unable to pay its debt. As a result, the corporation became
financially distressed, insolvent, or bankrupt. In order to take appropriate
actions, it is essential to forecast financial difficulties. In this study, the
researcher uses the Springate S Score to study financial distress of chosen
steel companies operating in India. Secondary data from five of the worst-performing
manufacturing steel companies was collected over a five-year period, commencing
in 2016-17 and ending in 2020-21. Using Microsoft Excel software, the acquired
data was evaluated. According to the Springate Score Model, two firms are
financially distressed and three companies are solvent out of five.
Springate
Score, Financial distressed, solvent, steel companies
VOL.13, ISSUE No.4, December 2021