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"Z- score"

Date calculated
Company
Data used

Working Capital = Current Assets - Current Liabilities


Data input Main Company 2007-2016

Dabur India Ltd. Dabur India Ltd. Emami Ltd.


Parameters
Current assets (incl. short term investments, loans & advances) 2029.62 2029.62 775.86
Current liabilities 716.59 716.59 186.29
Net working capital 358.39 358.39 180.63
Total assets 2738.25 2738.25 1208.50
Retained profits/losses during the year 255.12 255.12 87.49
EBIT 685.02 685.02 276.52
Inside Liability 1341.32 1341.32 707.41
Outside Liability 1348.41 1348.41 421.44
Sales 37476.30 37476.30 13743.58

Z- score Results 16.76

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

Modules Dabur India Ltd. Dabur India Ltd. Emami Ltd.

(Working Capital / Total Assets * 1.2 ) 0.16 0.16 0.18


+ ( Retained Earnings/ Total Assets * 1.4) 0.13 0.13 0.10
+ (EBIT/Total Assets * 3.3 ) 0.83 0.83 0.76
+ (IL / OL * .6 ) 0.60 0.60 1.01
+ (Sales / Total Assets * 1.1 ) 15.05 15.05 12.51
Z Score 16.76 16.76 14.55
2007-2016

Godrej Consumer Hindustan Unilever Procter & Gamble Hygiene


Products Ltd. Ltd. & Health Care Ltd.
1062.36 8376.01 1035.30
711.02 5219.75 248.49
-57.82 201.91 110.97
3094.54 10740.73 1290.28
248.00 283.71 123.61
547.35 3970.71 311.45
1865.26 3071.44 742.58
1191.17 7515.04 540.27
28124.18 238464.97 14223.34
Godrej Consumer Hindustan Unilever Procter & Gamble Hygiene
Products Ltd. Ltd. & Health Care Ltd.

-0.02 0.02 0.10


0.11 0.04 0.13
0.58 1.22 0.80
0.94 0.25 0.82
10.00 24.42 12.13
11.61 25.95 13.98
Rs.Crore
Year/Company Parameters
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2007 Total capital
Reserves and funds

Share application money & suspense account


Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2008
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2009
Total capital
Reserves and funds
2009

Share application money & suspense account


Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2010
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2011
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)

2012
EBIT
2012
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2013
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2014
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2015
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Current assets (incl. short term investments, loans & advances)
Current liabilities
Net working capital
Total assets
Retained profits/losses during the year
PBDITA
Depreciation / Amortisation (net of transfer from revaluation reserves)
EBIT
2016
Total capital
Reserves and funds
Share application money & suspense account
Inside Liabilty
Non-current liabilities
Current liabilities & provisions
Outside Liability
Sales
Dabur India Ltd. Emami Ltd. Godrej Consumer Products

278.49 45.28 185.93


59.15 95.83 -116.32
804.05 334.1 455.68
112.69 37.4 34.75
314.02 82.91 171.35
21.98 4.65 12.49
292.04 78.26 158.86
86.29 12.23 22.58
316.91 217 88.33

0.2
316.91 217.2 88.33

358.93 76.79 222.65


358.93 76.79 222.65
16415.7 5200.7 7994.2

317.87 51.71 225.87


125.36 62.18 -162.82
1160.74 453.83 569.66
164.29 60.03 39.59
404.2 117.65 204.24
25.75 7.28 15.7
378.45 110.37 188.54
86.4 12.43 22.58
441.93 276.58 127.92

528.33 289.01 150.5

588.44 124.15 273.67


588.44 124.15 273.67
21281.7 5830.2 9232.8

331.92 106.69 218.9


27.77 -79.86 175.96
1586.51 907.35 877.77
195.72 38.03 41.07
486.55 153.1 210.94
27.42 17.89 14.37
459.13 135.21 196.57
86.51 12.43 25.7
651.69 286.05 511.23
0.7
738.2 299.18 536.93

677.16 159.06 271.49


677.16 159.06 271.49
24359.3 7407.9 11353.7

435.96 91.64 288.3


147.3 116.62 112.94
1779.22 1105.15 1190.03
230.04 10.21 100.87
593.77 276.12 316.59
31.91 117.49 13.75
561.86 158.63 302.84
86.76 15.13 30.82
662.48 604.25 796.66
0.14
749.38 619.38 827.48

888 219.2 340.92


888 219.2 340.92
28915.1 10081.5 13015.8
1733.08 607.78 573.78
779.13 232.97 705.47
755.68 196.66 -205.72
2441.07 1175.87 2335.82
238.65 63.64 238.37
649.28 297 577.47
37.73 116.03 21.98
611.55 180.97 555.49
174.07 15.13 32.36
927.09 667.89 1501.34

1101.16 683.02 1533.7


403.92 100.33 26.92
935.99 392.52 775.2
1339.91 492.85 802.12
33060.9 12223.6 25512
1673.05 734.67 957.05
916.81 223.47 717.6
455.75 230.17 150.09
2877.86 1265.26 3588.88
200.03 14.24 422.35
664.51 348.47 817.99
38.73 120.75 25.83
625.78 227.72 792.16
174.21 15.13 34.03
1129.06 682.13 2489.89

1303.27 697.26 2523.92


414.75 82.93 265.47
1159.84 485.07 799.49
1574.59 568 1064.96
37958.5 14166.2 31005.3
2078.34 838.33 1206.77
949.97 153.54 958.63
648.97 356.37 142.72
3320.67 1299.53 4694.32
285.92 80.06 312.65
816.9 410.99 697.38
48.45 123.29 32.27
768.45 287.7 665.11
174.29 15.13 34.03
1391.32 762.19 2727.07

1565.61 777.32 2761.1


370.74 61.25 877.2
1384.32 460.96 1056.02
1755.06 522.21 1933.22
44061.5 16695.5 37891.3
2198.06 1032.61 1052.08
896.26 162.79 1345.19
703.28 527.64 -404.04
3735.09 1472.79 5249
314.99 151.37 355.77
937.51 513.59 795.2
53.28 93.8 35.52
884.23 419.79 759.68
174.38 22.7 34.04
1727.96 905.99 2990.32

1902.34 928.69 3024.36


379.83 59.02 769.24
1452.92 485.08 1455.4
1832.75 544.1 2224.64
55144.8 20739.9 47029.4
1995.02 1058.11 1365.52
1053.87 191.63 1407.16
263.66 748.57 -223.77
4387.74 1568.03 5861.67
345.7 283.46 430.48
1090.71 699.74 912.22
64.72 31.48 41.67
1025.99 668.26 870.55
175.65 22.7 34.04
2160.54 1189.46 3349.01

2336.19 1212.16 3383.05


389.82 64.2 937.95
1661.73 291.67 1540.67
2051.55 355.87 2478.62
55144.8 20739.9 47029.4
2500.15 383.66 1218.97
1205.6 603.2 1057.19
397 -447.9 -47.24
5289.5 2503.08 6122.61
463.15 136.45 504.05
1314.07 750.53 1031.06
71.38 252.23 47.38
1242.69 498.3 983.68
175.91 22.7 34.05
2695.87 1328.2 3789.2

2871.78 1350.9 3823.25


396.29 342.78 1096.11
2021.43 809.4 1203.25
2417.72 1152.18 2299.36
58420.7 24350.4 51177.9
Hindustan Unilever Ltd.

3201.63
-1513.32
7531.94
343.99
2361.71
130.16
2231.55
220.68
2502.81

2502.81

4574.97
4574.97
131897

3837.09
-971.68
6892.19
-406.15
2498.71
138.36
2360.35
217.75
1221.49

1439.24

5173.1
5173.1
148955.6

4255.83
-636.72
8520.28
584.16
3365.8
195.3
3170.5
217.99
1843.52
2061.51

5852.57
5852.57
219491.7

5291.66
-152.07
9590.91
546.06
3112.52
184.03
2928.49
218.17
2365.35

2583.52

6805.08
6805.08
184623.4
7024.16
5563.64
404.09
10401.91
664.03
3182.24
220.83
2961.41
215.95
2443.57

2659.52
1072.41
6669.98
7742.39
206399.4
7844.26
5169.73
1395.56
11198.02
807.5
3748.69
218.25
3530.44
216.15
3296.78

3512.93
1185.66
6499.43
7685.09
231806.2
7623.3
5783.84
-138.17
11776.2
-859.01
5270.34
235.22
5035.12
216.25
2457.77

2674.02
1393.01
7709.17
9102.18
272604.6
8888.6
6535.17
274.01
13268.94
594.52
5523.56
259.51
5264.05
216.27
3060.78

3277.05
1437.22
8554.67
9991.89
326980.9
9300.75
6196.95
434.37
13941.92
434.04
6486.07
285.91
6200.16
216.35
3508.43

3724.78
1397.12
8820.02
10217.14
326980.9
9575
6362
2923
14285
128
6346
321
6025
216
6063

6279
1331
6675
8006
334910
Procter & Gamble Hygiene & Health Care Ltd.

84.81
-63.24
588.74
13.87
144.12
8.98
135.14
32.46
258.72

258.72

289.22
289.22
5560.2

130.84
58.81
735.68
55.47
194.98
12.12
182.86
32.46
314.18

346.64

377.31
377.31
6555.7

115.67
-7.37
874.15
93.4
248.13
14.37
233.76
32.46
407.57
440.03

422.35
422.35
7756.7

199
70
1107.84
94.6
257.19
19.39
237.8
32.46
502.17

534.63

563.16
563.16
9171.2
595.22
182.2
2.54
1195.56
65.99
202.42
22.16
180.26
32.46
568.16

600.62
321.96
272.98
594.94
10401.7
769.96
309.37
17.63
1477.88
96.4
263.76
28.08
235.68
32.46
664.58

697.04
381.23
399.61
780.84
13045
841.24
289.12
-8.58
1261.23
108.28
324.52
31.31
293.21
32.46
772.86

805.32
14.17
441.74
455.91
16990.2
1012.83
293.11
53.49
1519.27
197.58
486.16
35.18
450.98
32.46
970.44

1002.9
13.87
502.5
516.37
23599.5
1357.67
456.95
216.96
1962.72
227.96
565.87
52.53
513.34
32.46
1196.22

1228.68
17.81
716.23
734.04
23599.5
1634.87
423.87
769.5
2179.72
282.53
703.15
51.69
651.46
32.46
1478.75

1511.21
17.37
651.14
668.51
25553.7
Parameters Dabur India Ltd. Emami Ltd.

Current assets (incl. short term investments, loans & advances) 2029.62 775.86
Current liabilities 716.588 186.292
Net working capital 358.392 180.628
Total assets 2738.245 1208.499
Retained profits/losses during the year 255.118 87.489
EBIT 685.017 276.521
Inside Liability 1341.317 707.412
Outside Liability 1348.411 421.441
Sales 37476.3 13743.58
Godrej Consumer Products Ltd. Hindustan Unilever Ltd.

1062.36 8376.01
711.024 5219.754
-57.82 201.907
3094.544 10740.731
247.995 283.714
547.348 3970.707
1865.262 3071.438
1191.165 7515.041
28124.18 238464.97
Procter & Gamble Hygiene & Health Care Ltd.

1035.30
248.494
110.974
1290.279
123.608
311.449
742.579
540.265
14223.34