The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Warning Sign:
Altman Z-score of 1.2 is in distress zone. This implies bankruptcy possibility in the next two years.
Madras Fertilizers has a Altman Z-Score of 1.19, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Madras Fertilizers's Altman Z-Score or its related term are showing as below:
NSE:MADRASFERT'
s Altman Z-Score Range Over the Past 10 Years
Min: -1.75 Med: -0.45 Max: 1.2
Current: 1.2
During the past 13 years, Madras Fertilizers's highest Altman Z-Score was 1.20. The lowest was -1.75. And the median was -0.45.
Madras Fertilizers (NSE:MADRASFERT) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Madras Fertilizers Altman Z-Score Related Terms
Madras Fertilizers Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Madras Fertilizers's Altman Z-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:MADRASFERT vs CTVA, CF, MOS: Altman Z-Score Comparison
For the Agricultural Inputs subindustry, Madras Fertilizers's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Madras Fertilizers Altman Z-Score vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, Madras Fertilizers's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Madras Fertilizers's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Madras Fertilizers's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
-0.2598
+
1.4
*
0
+
3.3
*
0.0692
+
0.6
*
0.4848
+
1.0
*
0.9863
=
1.19
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Madras Fertilizers (NSE:MADRASFERT) has a Altman Z-Score of 1.19 as of Jul. 01, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Madras Fertilizers and its competitors. According to the industry distribution chart, Madras Fertilizers ranks #207 out of 250 companies in the Agriculture industry, placing it in the top 82.8%.
Is Madras Fertilizers' Altman Z-Score too high?
Madras Fertilizers' current Altman Z-Score is 1.19. The Agriculture industry median Altman Z-Score is 2.69. Madras Fertilizers' value of 1.19 is 55.7% below this industry median. Based on the distribution chart, Madras Fertilizers ranks #207 out of 250 companies in the Agriculture industry, which is in the bottom quartile relative to peers. Overall, Madras Fertilizers has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Madras Fertilizers' Altman Z-Score compare to CTVA and CF?
According to the Agriculture industry distribution chart, Madras Fertilizers ranks #207 out of 250 companies for Altman Z-Score. This places Madras Fertilizers in the lower half of its industry. The industry median Altman Z-Score is 2.69. Madras Fertilizers' value of 1.19 is 55.7% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for an Agriculture company?
The median Altman Z-Score among Agriculture companies is 2.69, based on 250 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Madras Fertilizers's current Altman Z-Score of 1.19 is 55.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Madras Fertilizers and its competitors. For the Agriculture industry, the median Altman Z-Score is 2.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Madras Fertilizers's current Altman Z-Score is 1.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Madras Fertilizers stock overvalued right now?
Based on GuruFocus' analysis, Madras Fertilizers (NSE:MADRASFERT) is currently considered Possible Value Trap. The stock's GF Value™ is ₹258.30, compared to a current price of ₹67.42 — trading 73.9% below its estimated fair value. The current Altman Z-Score is 1.19 and 55.7% below the Agriculture industry median of 2.69. Madras Fertilizers' overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Madras Fertilizers (NSE:MADRASFERT), the current Altman Z-Score is 1.19 as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Madras Fertilizers (NSE:MADRASFERT) Overvalued in 2026?
Based on GuruFocus' analysis, Madras Fertilizers stock appears to be undervalued.
The current stock price of ₹67.42 is trading 73.9% below its estimated GF Value™ of ₹258.30.
GuruFocus considers Madras Fertilizers to be Possible Value Trap.
Key valuation signals for NSE:MADRASFERT:
Altman Z-Score: 1.19
GF Value™: ₹258.30 vs. price of ₹67.42 (73.9% below fair value)
Industry Position: 55.7% below the Agriculture median (#207 of 250)
No single metric tells the full story. See the NSE:MADRASFERT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Madras Fertilizers Ltd is engaged in the manufacture of ammonia, urea, and complex fertilizers. It is also engaged in manufacturing bio-fertilizers and marketing fertilizers and agrochemicals under the brand name Vijay. The company operates through the manufacture and sale of fertilizers segment. It also provides biofertilizers, including Azospirillum for paddy, plantation crops, and other crops; Rhizobium for groundnuts and pulses; and Phosphor Bacteria and NP Bio for various crops.
69GF Score
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