FINANCIAL HEALTH  ANALYSIS OF LARGE SCALE   OIL AND NATURAL GAS COMPANIES IN INDIA-WITH SPECIAL REFERENCE TO SELECT OIL AND NATURAL GAS COMPANIES

Volume : IV, Issue : IV, April - 2015

G. Kalaiselvi, Dr. Shunmugananda Vadivel

In India, oil and natural gas sector has tremendous growth potential. It plays a vital role in Industries like manufacturing,

commercial services, utilities and infrastructure. Financial health of a firm should be evaluated to predict the financial

performance in terms of liquidity, profitability and viability. Financial soundness of an industry cannot be ascertained by

single ratio. Altman combined a number of accounting ratios to form an index of profitability it is regarded as an effective indication of corporate

performance in predicting financial health of a firm. This paper has made an attempt to analyse and forecast the financial health of GAIL, ONGC,

IOC, BPCL, HPCL and OIL by the way of applying Altman�s Z–Score model over a period of 10 years. This investigation is based upon the secondary

data available from reliable database Capitaline, Prowess and annual report of each company. From the study it is ascertained that GAIL, ONGC,

and OIL have registered decreasing trend over the period of analysis. OIC, BPCL and HPCL have increasing trend and also excellent financial

viability position throughout the study.