This book discusses on the ?Corporate Credit Risk of Indian Manufacturing Companies: Towards an Early Warning System?. Devised for the analysis of financial health of the Indian manufacturing firms, it aims to pave a path towards designing a EWS by identifying the essential variables and hence assess the credit worthiness of the firms and avert a default. Most of the research on bankruptcy or default is done for the developed nations whereas it?s meagre in India due to lack of data and proper bankruptcy laws. In the present study the popular and robust Z score model is developed for the listed manufacturing firms in India and then DEA is used to assess their technical efficiencies. The rating agencies can incorporate these technical efficiencies in their ratings methodologies. Finally the study looks into the impact of macroeconomic factors on the firms? financial health. This book is meant for those who are interested in learning about the financial health of listed firms i.e. Banks, Financial Institutions and Investors, for those undertaking research in Credit risk, CRAs and for the policy makers.