Mangalam AlloysNSE:MAL -2.94%38 Altman Z-Score is 1.92 as of Jun. 30, 2026. GuruFocus rates NSE:MAL with a GF Score™ of 38/100. Among 610 Steel companies, Mangalam Alloys ranks worse than 64.26% 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.
Mangalam Alloys has a Altman Z-Score of 1.92, indicating it is in Grey Zones. This implies that Mangalam Alloys is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
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 Mangalam Alloys's Altman Z-Score or its related term are showing as below:
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.
Mangalam Alloys Altman Z-Score Related Terms
Mangalam Alloys Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Mangalam Alloys'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.
NSE:MAL vs NUE, STLD, RS: Altman Z-Score Comparison
For the Steel subindustry, Mangalam Alloys'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.
Mangalam Alloys Altman Z-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Mangalam Alloys's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Mangalam Alloys'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.
Mangalam Alloys's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.2392
+
1.4
*
0.1586
+
3.3
*
0.0979
+
0.6
*
0.257
+
1.0
*
0.9361
=
1.92
* 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.
Mangalam Alloys (NSE:MAL) has a Altman Z-Score of 1.92 as of Jun. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Mangalam Alloys and its competitors. According to the industry distribution chart, Mangalam Alloys ranks #392 out of 610 companies in the Steel industry, placing it in the top 64.3%.
Is Mangalam Alloys' Altman Z-Score too high?
Mangalam Alloys' current Altman Z-Score is 1.92. The Steel industry median Altman Z-Score is 2.45. Mangalam Alloys' value of 1.92 is 21.5% below this industry median. Based on the distribution chart, Mangalam Alloys ranks #392 out of 610 companies in the Steel industry, which is below the industry midpoint. Overall, Mangalam Alloys has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does Mangalam Alloys' Altman Z-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Mangalam Alloys ranks #392 out of 610 companies for Altman Z-Score. This places Mangalam Alloys in the lower half of its industry. The industry median Altman Z-Score is 2.45. Mangalam Alloys' value of 1.92 is 21.5% below 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 610 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. Mangalam Alloys's current Altman Z-Score of 1.92 is 21.5% below 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 Mangalam Alloys 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. Mangalam Alloys's current Altman Z-Score is 1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mangalam Alloys stock overvalued right now?
Mangalam Alloys (NSE:MAL) has a current Altman Z-Score of 1.92. The current Altman Z-Score is 1.92 and 21.5% below the Steel industry median of 2.45. Mangalam Alloys' overall GF Score™ is 38/100. 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 Mangalam Alloys (NSE:MAL), the current Altman Z-Score is 1.92 as of Jun. 30, 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.
Mangalam Alloys Ltd is engaged in the manufacturing and distribution of high-quality stainless steel products. It is a stainless steel melting unit. Its products include forging ingots, billets, black round bars, bright round bars, hexagonal and square bars, SS RCS, angle bars, fasteners, and others. It operates in one segment, stainless steel products.
38GF Score
Get the complete analysis for NSE:MAL
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:MAL has been successfully added to your 
