"Z- score"

Date calculated
Company
Data used

Data input 2003-2012

Maruti TM M&M AL
Working Capital = Current Assets - Current Liabilities

Current Assets 40249.4 40249.4 87179.2 24014.1 28372.3

Current Liabilities 28637.1 28637.1 95122.4 36381.7 20707.6
Working Capital 11612.3 11612.3 -7943.2 -12367.6 7664.7
Total Assets 88269.8 88269.8 283606.4 72202.3 38329
Retained Earnings 80579.8 80579.8 52834.1 49287.8 22539.5
EBIT 19827.3 19827.3 6515.3 21726 5699.2
Inside Liability 242923.9 242923.9 334744.8 119985.6 46845.3
Outside Liability 37201.6 37201.6 57201.6 60450.1 37859.4
Sales 195127.4 195127.4 126412.5 131518 69271.3

Z- score Results 8.53

What are the chances of bankruptcy ?

1.80 or less Very High
1.81 to 2.7 High
2.8 to 2.9 Possible
3.0 or higher Not Likely
 Formulas Used

(Working Capital / Total Assets * 1.2 ) 0.16

+ ( Retained Earnings/ Total Assets * 1.4) 1.28
+ (EBIT/Total Assets * 3.3 ) 0.74
+ (IL / OL * .6 ) 3.92
+ (Sales / Total Assets * 1.1 ) 2.43

Z Score 8.53
Default ROA SL LVR CVR LNA LTO DS
0 7.5% 62.8% 12.0% 366.1% 13.1 9.9 261.51%
0 8.6% 72.0% 12.3% 420.0% 15.0 11.4 300.00% SL
0 12.0% 101.0% 4.3% 589.0% 21.0 16.0 420.72% LVR
0 12.3% 103.5% 4.3% 603.7% 21.56 16.4 431.22% CVR
0 4.3% 36.5% 0.3% 213.0% 7.61 5.8 152.14% DSCR
0 4.3% 35.9% 5.3% 209.6% 7.49 5.7 149.72%
0 0.3% 2.3% 4.6% 13.6% 0.49 0.4 9.74%
0 5.3% 44.7% 5.8% 261.0% 9.32 7.1 186.44%
0 4.6% 38.5% 32.1% 224.4% 8.01 6.1 160.26%
0 5.8% 49.0% 40.9% 286.1% 10.22 7.8 204.32%
0 8.1% 68.1% 56.7% 397.2% 14.18 10.8 283.68%
0 7.7% 65.1% 54.2% 379.7% 13.56 10.3 271.18%
0 11.7% 98.7% 82.2% 575.7% 20.56 15.6 411.25%
0 5.3% 44.9% 37.4% 261.7% 9.35 7.1 186.91%
0 9.5% 80.0% 66.7% 466.8% 16.67 12.7 333.41%
0 2.7% 22.7% 18.9% 132.6% 4.74 3.6 94.73%
0 7.7% 64.3% 53.6% 374.9% 13.39 10.2 267.77%
0 6.9% 57.9% 48.2% 250.8% 12.06 9.2 241.10%
0 9.6% 81.0% 67.5% 333.2% 16.88 12.8 337.51%
0 8.8% 73.8% 61.5% 692.3% 15.36 11.7 307.29%
0 12.9% 108.5% 90.4% 263.7% 22.61 17.2 452.15%
0 7.1% 59.9% 49.9% 511.0% 12.48 9.5 249.68%
0 10.6% 89.3% 74.5% 596.5% 18.61 14.1 372.27%
0 11.3% 95.2% 79.3% 546.0% 7.61 15.1 62%
1 3.1% 31.5% 10.4% 532.0% 7.49 6.3 53%
1 6.1% 27.5% 12.2% 160.4% 0.49 1.8 68%
1 7.1% 74.3% 11.1% 433.6% 9.32 5.1 95%
1 4.0% 75.6% 10.9% 441.0% 8.01 4.6 90%
1 6.3% 48.3% 8.4% 281.7% 10.22 6.4 137%
1 4.9% 119.3% 11.0% 696.1% 14.75 5.8 62%
1 2.0% 99.9% 11.9% 582.9% 19.25 8.6 111%
1 -5.0% 35.1% 9.0% 205.0% 20.8 4.7 32%
1 -3.0% 59.8% 49.8% 348.8% 15.0 7.1 89%
0 12.0% 43.0% 35.8% 250.8% 21.0 7.5 179.18%
0 13.0% 57.1% 47.6% 333.2% 21.56 2.5 238.00%
0 14.1% 118.7% 98.9% 692.3% 7.61 2.2 494.51%
0 15.0% 45.2% 37.7% 263.7% 7.49 7.2 188.35%
0 10.4% 87.6% 73.0% 511.0% 0.49 13.9 365.00%
0 12.2% 102.2% 85.2% 596.5% 9.32 16.2 426.04%
0 11.7% 93.6% 78.0% 546.0% 8.01 14.8 390.00%
0 5.3% 91.2% 76.0% 532.0% 10.22 14.4 380.00%
0 9.5% 70.8% 59.0% 413.0% 14.75 11.2 295.00%
0 2.7% 92.4% 77.0% 539.0% 19.25 14.6 385.00%
0 7.7% 99.6% 83.0% 581.0% 20.75 15.8 415.00%
0 6.9% 102.0% 24.0% 595.0% 21.25 16.2 425.00%
0 9.6% 20.9% 7.5% 62.8% 4.36 5.0 87% -0.096433
0 8.8% 24.0% 8.6% 72.0% 5.00 5.7 100% -0.087798
0 12.9% 33.7% 12.0% 101.0% 7.01 8.0 140% -0.129186
0 7.2% 34.5% 12.3% 103.5% 7.19 8.2 144% -0.07187
0 2.5% 12.2% 4.3% 36.5% 2.54 2.9 51% -0.025356
0 2.5% 12.0% 4.3% 35.9% 2.50 2.8 50% -0.024953
0 0.2% 0.8% 0.3% 2.3% 0.16 0.2 3% -0.001623
0 3.1% 14.9% 5.3% 44.7% 3.11 3.5 62% -0.031073
0 2.7% 12.8% 4.6% 38.5% 2.67 3.0 53% -0.026709
1 3.4% 16.3% 5.8% 99.9% 3.41 3.9 68% -0.034054
1 4.7% 22.7% 8.1% 35.1% 6.94 5.4 95% -0.04728
1 4.5% 21.7% 7.7% 59.8% 2.44 5.2 90% -0.045197
1 -6.0% 32.9% 11.7% 43.0% 4.15 7.8 137% 0.06
1 3.1% 15.0% 5.3% 57.1% 2.99 3.6 62% -0.031151
1 -1.0% 26.7% 9.5% 118.7% 3.97 6.3 111% 0.01
1 1.6% 7.6% 2.7% 45.2% 8.24 1.8 32% -0.015788
1 0.0% 21.4% 7.7% 87.6% 3.14 5.1 89% 0
1 0.0% 19.3% 6.9% 57.9% 6.08 4.6 80% 0
1 0.0% 27.0% 9.6% 81.0% 5.63 6.4 113% 0
1 5.1% 24.6% 8.8% 73.8% 5.12 5.8 102% -0.051215
1 2.0% 36.2% 12.9% 108.5% 7.54 8.6 151% -0.02
1 1.0% 20.0% 7.1% 59.9% 4.16 4.7 83% -0.01
1 -1.0% 29.8% 10.6% 89.3% 6.20 7.1 124% 0.01
1 -2.0% 31.7% 11.3% 95.2% 6.61 7.5 132% 0.02
1 2.2% 10.5% 3.8% 31.5% 2.19 2.5 44% -0.021892
1 1.9% 9.2% 3.3% 27.5% 1.91 2.2 38% -0.019099
1 -3.0% 24.8% 8.8% 74.3% 5.16 5.9 103% 0.03
1 -4.0% 25.2% 9.0% 75.6% 5.25 6.0 105% 0.04
1 3.4% 16.1% 5.7% 48.3% 3.35 3.8 67% -0.033536
1 -4.0% 39.8% 14.2% 119.3% 8.29 9.4 166% 0.04
1 0.0% 33.3% 11.9% 99.9% 6.94 7.9 139% 0
1 0.0% 11.7% 4.2% 35.1% 2.44 2.8 49% 0
1 0.0% 19.9% 7.1% 59.8% 4.15 4.7 83% 0
1 -5.0% 14.3% 5.1% 43.0% 2.99 3.4 60% 0.05
1 -4.0% 19.0% 6.8% 57.1% 3.97 4.5 79% 0.04
1 1.0% 39.6% 14.1% 118.7% 8.24 9.4 165% -0.01
1 2.0% 15.1% 5.4% 45.2% 3.14 3.6 63% -0.02
1 1.0% 29.2% 10.4% 87.6% 6.08 6.9 122% -0.01
1 -5.0% 34.1% 12.2% 102.2% 7.10 8.1 142% 0.05
1 1.0% 31.2% 11.1% 93.6% 6.50 7.4 130% -0.01
1 -4.0% 30.4% 10.9% 91.2% 6.33 7.2 127% 0.04
1 -3.0% 23.6% 8.4% 70.8% 4.92 5.6 98% 0.03
1 -2.0% 30.8% 11.0% 92.4% 6.42 7.3 128% 0.02
1 1.0% 33.2% 11.9% 99.6% 6.92 7.885 138% -0.01
1 1.5% 34.0% 9.0% 102.0% 7.08 8.075 142% -0.015
 Cash/ ST debts
Equity/asset
EBIT/Int
EBIT/(Prin+int) Cf value
C 1.580539 1.580539
ROA -47.5929 5%
LVR -10.22522 10%
LTO 0.878473 0.1
DS -2.955635 20%
logit
Exp

PD
 1.580539
-2.379645
-1.022522
0.0878473
-0.591127
-2.3249077
10.225736207
11.225736207
8.908%