Altmans Z-score analysis: a case of Nahar Spinning Mills Limited (The Nahar Oswal Group)

Abstract

Corporate frauds and scams have made the scene of corporate and its governance sensitive and susceptible. It compels to raise brows and increases one's quest to know what is behind the veil; an ethical governance or seemingly to be a governance which is self-styled, artificial, biased, mere a formality or a conspiracy against the interest of minority stakeholders! Therefore here comes the need to protect and safeguard the interest of at mercy (minority stakeholders). The present study is financial statement analysis case study of one of the flagship companies of the Nahar Oswal Group of Companies in the Punjab State of India Country. The purpose of the study is to portray the image of the company from longitudinal time series analysis of its financial statement extending to 12 years from year 2006 till 2017.