Financial strength is a serious issue for the business firms. For measuring the financial strength of a business firm, there are lots of methods were available. But Altman’s Z-score model is one of the reliable and good methods. This model is predicting the possibilities of the bankruptcy of a business organization. The aim of the present study is analyzed the financial health of Auto Ancillary and Realty companies. For the purpose of this study, the required data collected from April 2014 to March 2018. From the study, it clearly understood that most of the sample companies are financially distressed. They better closed down their business. They are Exide industries and Amtek Auto‘s in Ancillary units and Brigade enterprises, Unitech, Prestige estate & Sunteck in Reality sector. And it also finds that Amara Raja Batteries, Omax Auto and PRICOL in Auto Ancillary units are financially healthy at present, but it will not improve their liquidity, asset productivity and solvency within 2 years it may go to bankruptcy. Phoenix Township performance sound in previous years and its performance comes down in succeeding 2 years. So it recommended to the management must take necessary steps for improving their efficiency. And also it recommends to the policymakers to make an optimum capital structure like Debt and Equity mix and proper dividend policy for maintaining sufficient earnings for future potential investment.