Indo Borax & ChemicalsNSE:INDOBORAX -1.49%71 Altman Z-Score is 42.10 as of Jun. 29, 2026, which is 246% above its 10-year median of 12.18. GuruFocus rates NSE:INDOBORAX with a GF Score™ of 71/100 and a GF Value™ of ₹217.71 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,568 Chemicals companies, Indo Borax & Chemicals ranks better than 98.34% on this metric.
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 42.1 is strong.
Indo Borax & Chemicals has a Altman Z-Score of 42.10, 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 Indo Borax & Chemicals's Altman Z-Score or its related term are showing as below:
NSE:INDOBORAX'
s Altman Z-Score Range Over the Past 10 Years
Min: 5.9 Med: 12.18 Max: 42.1
Current: 42.1
During the past 13 years, Indo Borax & Chemicals's highest Altman Z-Score was 42.10. The lowest was 5.90. And the median was 12.18.
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.
Indo Borax & Chemicals Altman Z-Score Related Terms
Indo Borax & Chemicals Altman Z-Score Historical Data
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The historical data trend for Indo Borax & Chemicals'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.
For the Chemicals subindustry, Indo Borax & Chemicals'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.
Indo Borax & Chemicals Altman Z-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Indo Borax & Chemicals's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Indo Borax & Chemicals'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.
Indo Borax & Chemicals (NSE:INDOBORAX) has a Altman Z-Score of 42.10 as of Jun. 29, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Indo Borax & Chemicals and its competitors. This is 246% above median its historical median of 12.18. Over the past decade, Indo Borax & Chemicals' Altman Z-Score has ranged from 5.90 to 42.10. According to the industry distribution chart, Indo Borax & Chemicals ranks #26 out of 1568 companies in the Chemicals industry, placing it in the top 1.7%.
Is Indo Borax & Chemicals' Altman Z-Score too high?
Indo Borax & Chemicals' current Altman Z-Score of 42.10 is 246% above median its 10-year median of 12.18. Over the past 10 years, this metric has ranged from a low of 5.90 to a high of 42.10. The Chemicals industry median Altman Z-Score is 3.13. Indo Borax & Chemicals' value of 42.10 is 1247.2% above this industry median. Based on the distribution chart, Indo Borax & Chemicals ranks #26 out of 1568 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Indo Borax & Chemicals has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Indo Borax & Chemicals' Altman Z-Score compare to DOW?
According to the Chemicals industry distribution chart, Indo Borax & Chemicals ranks #26 out of 1568 companies for Altman Z-Score. This places Indo Borax & Chemicals in the top 2% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.13. Indo Borax & Chemicals' value of 42.10 is 1247.2% above this benchmark. Historically, Indo Borax & Chemicals' own Altman Z-Score has ranged from 5.90 to 42.10 over the past decade. While the company's 10-year median is 12.18 vs. the industry median of 3.13, Indo Borax & Chemicals has consistently been above the industry average. 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 Chemicals company?
The median Altman Z-Score among Chemicals companies is 3.13, based on 1,568 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. Indo Borax & Chemicals's current Altman Z-Score of 42.10 is 1247.2% 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 Indo Borax & Chemicals and its competitors. For the Chemicals industry, the median Altman Z-Score is 3.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Indo Borax & Chemicals's current Altman Z-Score is 42.10, which is 246% above median its own 10-year median of 12.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indo Borax & Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Indo Borax & Chemicals (NSE:INDOBORAX) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹217.71, compared to a current price of ₹380.50 — trading 74.8% above its estimated fair value. The current Altman Z-Score is 42.10, which is 246% above median its 10-year median of 12.18 and 1247.2% above the Chemicals industry median of 3.13. Indo Borax & Chemicals' overall GF Score™ is 71/100 with 9 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 Indo Borax & Chemicals (NSE:INDOBORAX), the current Altman Z-Score is 42.10 as of Jun. 29, 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 Indo Borax & Chemicals (NSE:INDOBORAX) Overvalued in 2026?
Based on GuruFocus' analysis, Indo Borax & Chemicals stock appears to be overvalued.
The current stock price of ₹380.50 is trading 74.8% above its estimated GF Value™ of ₹217.71.
GuruFocus considers Indo Borax & Chemicals to be Significantly Overvalued.
Key valuation signals for NSE:INDOBORAX:
Altman Z-Score: 42.10 (246% above median its 10-year median of 12.18)
GF Value™: ₹217.71 vs. price of ₹380.50 (74.8% above fair value)
Industry Position: 1247.2% above the Chemicals median (#26 of 1568)
No single metric tells the full story. See the NSE:INDOBORAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Indo Borax & Chemicals Ltd is engaged in the manufacturing and selling of chemical products. The company's product offerings include Boric acid powder, Boric acid granular, Boric acid, Borax decahydrate granular and Borax decahydrate crystal. The company is operating in a single reportable segment i.e. manufacturing and selling of Chemicals. Its products Boric acid powder has applications in metallurgical operation, electroplating industry, nylon dyeing, nylon manufacturing and agricultural use. It derives revenues from the sale of manufactured goods, traded goods and related services.
71GF Score
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