Indian Companies that Might Turn Bankrupt

#3 Shree Renuka Sugars

Altman’s Z-Score: 1.68

According to the tests done by the analyst team at Morgan Stanley, Shree Renuka Sugars, India’s largest sugar refiner and ethanol producer, has greater financial risk to be faced. With 4000 tonnes/day refining capacity and 600 kilo litre/day distillery capacity, the company has 21 percent market share in India’s fuel ethanol market and it also accounts for 20 percent of India’s international sugar trade.

#4 Great Eastern Shipping

Altman’s Z-Score: 1.68

The Great Eastern Shipping Company, India’s largest private sector shipping company that mainly liquid, gas and solid bulk products, also recorded a 1.68 score in Morgan Stanley research, showing that it also has a greater risk in the financial sector. The two main business of the company are shipping and offshore. The former includes the transportation of crude oil, petroleum products, gas and dry bulk commodities; while the latter includes servicing the oil companies in carrying out offshore exploration and production activities through its wholly owned subsidiary Greatship (India).

#5 Educomp Solutions

Altman’s Z-Score: 1.59

With 1.59 Altman’s Score, Educomp Solutions, the globally diversified education solutions provider and the largest education company in India, founded in 1994, has recorded a much greater probability to have financial risk.