A study on the impact of COVID-19 on the financial health of Indian companies
by R. Ramprakash; C. Joe Arun
International Journal of Monetary Economics and Finance (IJMEF), Vol. 15, No. 5, 2022

Abstract: Unexpected lockdown of the country for more than four months has led to a huge reduction of economic activity and adversely affected the profitability and liquidity of companies. The study aims to assess the potential damage caused by COVID-19 to the financial health of Indian companies. NSE NIFTY 50 companies were selected as a sample for the study and Altman Z-Score model was used to measure their financial health at the end of December 2019, March 2020 and June 2020. Paired sample t-test was used to test significant changes in financial health during the period of study. The study witnessed adverse impact of COVID-19 on the financial health of selected companies. Oil, Gas, Metals, Power, Construction, Fertilisers, Pesticides, Services and Telecom are the sectors which are adversely affected by the pandemic.

Online publication date: Tue, 24-Jan-2023

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