Published Paper Details:

Abstract: Purpose: This research aims to analyze the financial structure of selected paper companies in Uttarakhand to evaluate their solvency and leverage positions. The research emphasizes understanding how different financial ratios and capital structure components influence the financial stability and risk profile of these companies. Methodology: The research follows a descriptive and analytical approach by secondary data from the published financial statements of five paper companies for the period 2019-20 to 2024-25. The study employs key financial ratios, including Interest Coverage Ratio, Debt-Equity Ratio, Financial Leverage Ratio, and Fixed Assets to Long-Term Debt Ratio. Additionally, the Kruskal-Wallis H test, a non-parametric statistical test, has been applied to determine significant differences among the companies. Data analysis was conducted using MS Excel and SPSS software. Findings: The study discloses significant differences in the financial structure and solvency ratios crosswise the selected companies. Companies with a balanced mix of debt and equity determine better financial health and sustainability related to highly leveraged firms. The Kruskal-Wallis test results indicate that significant variations occur in certain financial ratios among the companies. Value: This research offers valuable insights into the importance of maintaining an optimal financial structure within the paper industry. The findings can assist financial managers, investors, and policymakers in making informed decisions regarding capital structure strategies to ensure long-term viability.