Analysis of business risk and financial risk plays a decent role in evaluating the overall performance of any business organization. Generally, financial statement provides a summarized view of the financial position and operations of business organization and therefore, much can be learnt about the organization from the in-depth analysis of its financial statements. The analysis of business and financial risks is highly essential not only to the management for financial planning and control but also to the outsiders or interested external parties like the investors creditors, customers etc. in their decision making process. The study is organized into five chapters. The first chapter is an introduction to the study. This chapter also presents the concepts of business and financial risks. Second chapter deals with the purpose of the study, its objectives, scope, research methodology and organization of the study. The third chapter contains a brief description of the four selected companies(NIRMA, DABUR,MARICO & HUL).The observations and findings of the study are presented in chapter four. The final chapter narrates the conclusions drawn from the study.

Dr. Somnath Das presently working as an assistant professor in the Department of Commerce at Kazi Nazrul University, Asansol, India.He completed his Ph.D from the University of Burdwan. He has to his credit a significant number of research papers published in national and international journals of repute.Dr. Das also acting as counselor of IGNOU.