CORPORATE TURNAROUNDS IN INDIA: STRATEGIC REVIVAL MODELS AND LESSONS FROM CASE STUDIES

This study examines corporate turnarounds in India’s renewable energy sector using qualitative case studies of firms such as Suzlon Energy, ReNew Power, and Tata Power Solar. It analyzes the causes of corporate decline and evaluates the effectiveness of turnaround strategies including financial restructuring, operational efficiency, strategic repositioning, and governance interventions. The findings highlight that successful turnarounds are context-dependent, shaped by regulatory frameworks like the Insolvency and Bankruptcy Code (IBC), market conditions, and institutional support. The study proposes four Strategic Revival Models: Financial Restructuring, Operational Efficiency, Strategic Repositioning, and Hybrid Turnaround as a framework for guiding recovery in distressed firms. Overall, the research emphasizes the need for an integrated approach combining financial, strategic, and governance reforms to achieve sustainable turnaround in capital-intensive sectors.