This paper looks at the vulnerability of the restructured public sector enterprises in Kerala. It is a comparative analysis of the selected State Level Public Enterprises subsequent to the implementation of the revival and restructuring package. The analysis mainly involves the comparison of the performance prior to and post revival with the help of various analytical tools like comparative statement analysis and common size statement analysis. Three public sector enterprises located in the state of Kerala were selected and their financial soundness is assessed. The conclusions drawn could provide effective guidelines to the management of selected public sector enterprises in Kerala and their stakeholders.

KEYWORDS:Finance, Financial Distress, Financial Analysis, comparative statement analysis, common size statement analysis, Public Sector Enterprises