• B. Praveen Kumara
• Dr. M. Thyagarajan

A company faces financial distress when its operational cash flows become insufficient to meet day to day obligations of the business. Early identification of financial distress can reduce the risk of financial bankruptcy. Analysis of financial statements gives a true picture to investors, creditors etc. The stakeholders of the firm are interested in knowing about the firm financial condition and wealth of the firm. The present study is under taken to evaluate financial health of six Indian pharmaceutical companies i.e. Cadila Healthcare Ltd, Cipla Ltd Ltd, Dr. Reddy's Laboratories Ltd, Lupin Ltd, Piramal Enterprises Ltd and Sun Pharmaceutical Industries Ltd. Altman Z score model has been applied over a period of 5 years from 2013-14 to 2017-18.. The study reveals that, the overall financial health of Pharmaceutical industry is in healthy zone. Cadila Healthcare Ltd., Cipla Ltd., Dr. Reddy's Laboratories Ltd and Lupin Ltd are in healthy zone. Piramal Enterprises Ltd and Sun Pharmaceutical Industries are in bankruptcy zone.

Financial distress, Bankruptcy, Stakeholders, Financial Health

"Analysis of Financial Health of Select Pharmaceutical Companies using Z Score Model", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 1, page no.175-181, January-2019, Available :http://www.jetir.org/papers/JETIR1901822.pdf

"Analysis of Financial Health of Select Pharmaceutical Companies using Z Score Model", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 1, page no. pp175-181, January-2019, Available at : http://www.jetir.org/papers/JETIR1901822.pdf