Financial Performance of ONGC During the Post-Liberalization Period: A Case Study
Posted: 21 Mar 2016
Date Written: March 19, 2015
The role of Central Public Sector Enterprises (CPSEs) in Indian economy cannot be over emphasised. Since Independence the CPSEs have played instrumental role in contributing revenue to the central exchequer, creation of huge employment opportunity, removing the regional disparity and making notable contribution towards the economic growth of India. ONGC is one of the seven ‘Maharatna’ CPSEs of India and it is contributing tremendously to the Indian economy in many facets. Considering its dominant position in the Indian oil exploration sector and its importance in the national economy, the assessment of the financial performance ONGC in the post-liberalization period highlights much significance. In this backdrop, the present paper attempts to analyze the financial performance of ONGC for the period between 1999-2000 and 2013-2014. While tackling the issue addressed in this paper, the ‘Corporate Distress Prediction Models’ as suggested by Prof. Jayadev was used. The result of the study reflected prominent financial performance of ONGC throughout the study period. The study also revealed a noteworthy improvement in the financial position of ONGC over the study period.
Keywords: CPSEs, Maharatna, Post-liberalization Period, Corporate Distress Prediction
JEL Classification: G33
Suggested Citation: Suggested Citation