Industrialization is a best and perfect strategy for fast economic growth of a country, especially developing countries such as India, Bangladesh, Thailand etc., follow this strategy. It is not only limited to growth matter but also extended to attainment of self-reliance. Industrial development is based on many factors. They are availability of natural resources, size of the country, agriculture productivity, rate of population, efficient system of transportation and communication, educated labour force, effective banking system and government policy at macro level. Proper functional management like financial management, human resource management, production management, marketing management, management information system, research and development activities are require at micro level. If micro and macro things are not to minimum extent the companies in the industry become sick and it leads to slow growth rate in the economy. To get more clarity in this area, the present study takes Priyadarshini Spinning Mills Limited, Hyderabad as a reference to elucidate the sickness in the textile industries. Here we try to highlight Priyadarshini Spinning Mills Limited why it has been registered as sick at BIFR and preventive strategies for elimination of sickness are mentioned. In this regard, statistical tools like Altmas Z score is used to know the level or severity of sickness as well as factor analysis (SPSS) is used to find the  reasons of sickness in the company. Statistical tools like Altmas Z score is used to know the level or severity of sickness as well as factor analysis (SPSS) is used to find the reasons of sickness in the company with the help of structured questionnaire.

Key Words: Sickness, Textile Industry, Performance Indicator, Strategies, Working Capital