Analysis of indian iron and steel industry using altman’s z-score model

The present study tries to study and analyze the financial statement of the selected firms from bankruptcy perspective. This study is also expected to help the society in knowing how the available and scarce resources are efficiently utilized or otherwise by the industry players. The study has chosen to analyse the five year financial statements (2016-17 to 2020-21) of 10 companies’ viz., Tata Steel Limited (TSL), JSW Steel Limited (JSWSL), Jindal Steel and Power Limited (JSPL), Steel Authority of India Limited (SAIL), Ratnamani Metals & Tubes, Prakash Industries Ltd, Hindalco Industries Ltd, Godawari Power and Ispat Ltd, APL Apollo Tubes Ltd, Hisar Metal Industries Ltd. The results from all the perspective were analysed found that even popular companies like Tata Steel Ltd, JSW Steel Ltd, Jindal Steel and Power Ltd, SAIL, Prakash Industries Ltd and Hindalco Industries Ltd shows that they fall under the distress zone, there is a high probability that the business will face financial distress in near future and the business may need desperate measures to survive in the market if not taken measures to come out from the situation.