Financial Soundness Of Selected Indian Petroleum Companies Using Altman Z – Score Model

Abstract

It needs an hour to know the performance of Oil companies namely Indian Oil Corporation, Hindustan Petroleum Corporation Limited, Bharat Petroleum because the market is having high volatility, through A predictive model created by Edward Altman Z score in the 1960s. This model consists of different financial ratios to ascertain the likelihood of bankruptcy. The present study intends to analyze the financial health of selected oil companies through the application of the Altman z score model. It is found that the financial health of the selected companies understudy is Bharat petroleum corporation is relatively better than Indian oil corporation and Hindustan petroleum.