Paper Title
EVALUATION OF FINANCIAL DISTRESS: A CASE STUDY OF SELECTED AUTOMOBILE COMPANIES

Abstract
Financial distress refers to a situation where a company struggles to meet its financial obligations, which may eventually lead to bankruptcy if not addressed. Accurate prediction of financial distress becomes essential for stakeholders to make informed decisions and manage financial risks effectively. The primary objective of this study is to predict the financial distress of Indian automobile companies by applying the Altman, Springate, and Grover models, and to evaluate the predictive accuracy of these models for firms listed on the National Stock Exchange (NSE) during the period 2014–15 to 2023–24. Adopting a descriptive research design, the study employs both quantitative and panel data approaches. Descriptive statistics, normality tests, and one-way ANOVA were used in the analysis. The empirical findings reveal that the Grover model demonstrates the highest predictive accuracy at 96%, followed by the Springate model at 92%, while the Altman model records a comparatively lower accuracy rate of 68%. Keywords - Financial Distress, Altman, Springate, Grover