The rise and fall of Bhushan Steel Limited: A case study

Bhushan Steel Limited (BSL) was incorporated in 1983 and in a very less time company become one of the major players in the steel industry by capturing a large market share. The objective of the study is to do a critical analysis of the failure of the BSL. What were the factors behind the failure? Does for the banks it was possible to avoid the NPA's by not giving loans to the company after analyzing the Altman’s Z score to measure the financial stability of the organization. The study used secondary data from sources like CMIE Prowess IQ and EMIS Database and Annual Reports of the company. The study discussed the reasons behind the failure of the company. The study recommends to the banks for assessing the creditworthiness of a company to use Altman's Z score so that the banks can avoid NPA's.