The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 3.74 is strong.
Jai Balaji Industries has a Altman Z-Score of 3.74, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Jai Balaji Industries's Altman Z-Score or its related term are showing as below:
BOM:532976'
s Altman Z-Score Range Over the Past 10 Years
Min: -1.76 Med: -0.75 Max: 7.14
Current: 3.74
During the past 13 years, Jai Balaji Industries's highest Altman Z-Score was 7.14. The lowest was -1.76. And the median was -0.75.
Jai Balaji Industries (BOM:532976) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Jai Balaji Industries Altman Z-Score Related Terms
Jai Balaji Industries Altman Z-Score Historical Data
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The historical data trend for Jai Balaji Industries's Altman Z-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BOM:532976 vs NUE, STLD, RS: Altman Z-Score Comparison
For the Steel subindustry, Jai Balaji Industries's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Jai Balaji Industries Altman Z-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Jai Balaji Industries's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Jai Balaji Industries's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Jai Balaji Industries (BOM:532976) has a Altman Z-Score of 3.74 as of Jul. 12, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Jai Balaji Industries and its competitors. According to the industry distribution chart, Jai Balaji Industries ranks #171 out of 608 companies in the Steel industry, placing it in the top 28.1%.
Is Jai Balaji Industries' Altman Z-Score too high?
Jai Balaji Industries' current Altman Z-Score is 3.74. The Steel industry median Altman Z-Score is 2.45. Jai Balaji Industries' value of 3.74 is 53% above this industry median. Based on the distribution chart, Jai Balaji Industries ranks #171 out of 608 companies in the Steel industry, which is above the industry midpoint. Overall, Jai Balaji Industries has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Jai Balaji Industries' Altman Z-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Jai Balaji Industries ranks #171 out of 608 companies for Altman Z-Score. This puts Jai Balaji Industries in the upper half of its industry. The industry median Altman Z-Score is 2.45. Jai Balaji Industries' value of 3.74 is 53% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Steel company?
The median Altman Z-Score among Steel companies is 2.45, based on 608 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Jai Balaji Industries's current Altman Z-Score of 3.74 is 53% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Jai Balaji Industries and its competitors. For the Steel industry, the median Altman Z-Score is 2.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jai Balaji Industries's current Altman Z-Score is 3.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jai Balaji Industries stock overvalued right now?
Based on GuruFocus' analysis, Jai Balaji Industries (BOM:532976) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹119.17, compared to a current price of ₹66.44 — trading 44.2% below its estimated fair value. The current Altman Z-Score is 3.74 and 53% above the Steel industry median of 2.45. Jai Balaji Industries' overall GF Score™ is 68/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Jai Balaji Industries (BOM:532976), the current Altman Z-Score is 3.74 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Jai Balaji Industries (BOM:532976) Overvalued in 2026?
Based on GuruFocus' analysis, Jai Balaji Industries stock appears to be undervalued.
The current stock price of ₹66.44 is trading 44.2% below its estimated GF Value™ of ₹119.17.
GuruFocus considers Jai Balaji Industries to be Significantly Undervalued.
Key valuation signals for BOM:532976:
Altman Z-Score: 3.74
GF Value™: ₹119.17 vs. price of ₹66.44 (44.2% below fair value)
Industry Position: 53% above the Steel median (#171 of 608)
No single metric tells the full story. See the BOM:532976 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jai Balaji Industries Ltd is an India-based iron and steel manufacturing company. It manufactures Sponge Iron, Pig Iron, Ductile Iron Pipe, Ferro Chrome, Billet, TMT, Coke, and Sinter. The company is engaged in a single reportable segment of Iron and Steel. Geographically, it has a business presence in India and also exports it to other countries, of which key revenue is derived from India.
68GF Score
Get the complete analysis for BOM:532976
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