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Predicting Financial Survival: Altman Z-Score Insights into India's Renewable Energy Industry. PERWEZ, Md Sohail; AHMAD, Ruksar
International Journal of Environmental, Sustainability, and Social Science Vol. 6 No. 2 (2025): International Journal of Environmental, Sustainability, and Social Science (Mar
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/ijesss.v6i2.1398

Abstract

This study evaluates the financial health and bankruptcy risk of seven major Indian renewable energy firms from 2014 to 2023 using the Altman Z-score model, specifically its version adapted for emerging markets. As India targets 450 GW of renewable energy capacity by 2030, understanding the financial resilience of key industry players is essential to guide investment strategies and policy decisions. The selected firms, Tata Power Renewable Energy, Adani Green Energy, Suzlon Energy, Inox Wind, NHPC, SJVN, and Reliance Power, represent a mix of ownership structures and operate across solar, wind, and hydro sectors. A quantitative approach was applied using publicly available financial data, incorporating key ratios such as working capital, retained earnings, EBIT, and market value of equity. The results reveal variation in financial performance: Adani Green consistently remained in the green zone after 2020, reflecting strong investor confidence and low insolvency risk, while NHPC and Reliance Power stayed in the distress zone throughout, suggesting persistent financial weakness. Suzlon Energy showed volatility but signs of recovery by 2023, whereas Inox Wind moved from stability to distress after 2017. These findings support the use of the Z-score as a financial early-warning tool in capital-intensive sectors. However, the model’s limitations are evident in its inability to fully capture industry-specific challenges like delayed subsidies, regulatory uncertainty, and long asset payback periods. The study recommends integrating financial ratios with sector-specific and qualitative indicators.It contributes to the literature by applying the Z-score in India’s renewable energy context and offers practical insights for investors and policymakers.
Socio-Economic Analysis of Women's Participation in Silk Industry in Bihar AHMAD, Ruksar; FATIMA, Saneem
International Journal of Environmental, Sustainability, and Social Science Vol. 6 No. 6 (2025): International Journal of Environmental, Sustainability, and Social Science (Nov
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/ijesss.v6i6.1537

Abstract

This study explores the role of rural women in sericulture, focusing on their involvement and challenges in the Tussar silk industry in Bihar, India. With a focus on four districts, Purnia, Katihar, Banka, and Bhagalpur, the study surveyed 120 women, 30 from each district, engaged in sericulture. Women constitute 60% of the workforce in sericulture, which contributes 28.41% of household income, making it a critical livelihood source in India. Their involvement is concentrated in activities close to home, as they face challenges in tasks requiring external mobility. Many women entrepreneurs in this sector have limited education, and there is a need for government and sericulture departments to collaborate on targeted training and development programs. These initiatives aim to uplift the socioeconomic conditions of rural women and enhance their participation in sericulture for economic empowerment.