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The central aim is to assess the financial health of Maharatna CPSEs in India and understand their distress levels.

April 10, 2026Open Access

An Enquiry into the Financial Distress of Maharatna CPSEs in India: An empirical analysis

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The central aim is to assess the financial health of Maharatna CPSEs in India and understand their distress levels.
Utilized bankruptcy prediction models, including Springate and CA-Score.
Analyzed financial data of Maharatna CPSEs to evaluate distress.
Conducted empirical analysis to measure financial soundness.
Indications of various levels of financial distress among Maharatna CPSEs.
Specific insights into the financial health variability within the sector.

Abstract

Public sector enterprises (PSEs) have been the back bone of Indian economy since independence. Since independence PSEs involved in manufacturing of essential products, raw materials and offering numerous other services for the people of the society at reasonable cost. The main objective of this study is to investigate the status of Maharatna CPSEs in terms of their health, more specifically enquiring the financial distress / health. For measurement of sound health, sophisticated bankruptcy prediction model like Springate (1978) and CA- Score (1978) were used. Keywords: Financial Distress, Maharatna, Reasonable, Bankruptcy.

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Pooja Sharma (Wed,) studied this question.

www.synapsesocial.com/papers/69d8962d6c1944d70ce077f3 — DOI: https://doi.org/10.5281/zenodo.19466419

An Enquiry into the Financial Distress of Maharatna CPSEs in India: An empirical analysis

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