Vardhman HoldingsNSE:VHL +0.10%66 Altman Z-Score is 192.85 as of Jul. 09, 2026, which is 17% below its 10-year median of 233.11. GuruFocus rates NSE:VHL with a GF Score™ of 66/100 and a GF Value™ of ₹1,832.64 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 650 Asset Management companies, Vardhman Holdings ranks better than 97.08% on this metric.
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.
Good Sign:
Altman Z-score of 193.78 is strong.
Vardhman Holdings has a Altman Z-Score of 192.85, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
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 Vardhman Holdings's Altman Z-Score or its related term are showing as below:
NSE:VHL'
s Altman Z-Score Range Over the Past 10 Years
Min: 45.49 Med: 233.11 Max: 1221.05
Current: 193.78
During the past 13 years, Vardhman Holdings's highest Altman Z-Score was 1221.05. The lowest was 45.49. And the median was 233.11.
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.
Vardhman Holdings Altman Z-Score Related Terms
Vardhman Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Vardhman Holdings'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:VHL vs BLK, BX, KKR: Altman Z-Score Comparison
For the Asset Management subindustry, Vardhman Holdings'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.
Vardhman Holdings Altman Z-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Vardhman Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Vardhman Holdings'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.
Vardhman Holdings'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
*
0.002
+
1.4
*
0
+
3.3
*
0.0608
+
0.6
*
321.0685
+
1.0
*
0.0011
=
192.85
* 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.
Vardhman Holdings (NSE:VHL) has a Altman Z-Score of 192.85 as of Jul. 09, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Vardhman Holdings and its competitors. This is 17% below median its historical median of 233.11. Over the past decade, Vardhman Holdings' Altman Z-Score has ranged from 45.49 to 1,221.05. According to the industry distribution chart, Vardhman Holdings ranks #19 out of 650 companies in the Asset Management industry, placing it in the top 2.9%.
Is Vardhman Holdings' Altman Z-Score too high?
Vardhman Holdings' current Altman Z-Score of 192.85 is 17% below median its 10-year median of 233.11. Over the past 10 years, this metric has ranged from a low of 45.49 to a high of 1,221.05. The Asset Management industry median Altman Z-Score is 3.50. Vardhman Holdings' value of 192.85 is 5417.9% above this industry median. Based on the distribution chart, Vardhman Holdings ranks #19 out of 650 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Vardhman Holdings has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vardhman Holdings' Altman Z-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Vardhman Holdings ranks #19 out of 650 companies for Altman Z-Score. This places Vardhman Holdings in the top 3% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.50. Vardhman Holdings' value of 192.85 is 5417.9% above this benchmark. Historically, Vardhman Holdings' own Altman Z-Score has ranged from 45.49 to 1,221.05 over the past decade. While the company's 10-year median is 233.11 vs. the industry median of 3.50, Vardhman Holdings has consistently been above the industry average. 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 Asset Management company?
The median Altman Z-Score among Asset Management companies is 3.50, based on 650 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. Vardhman Holdings's current Altman Z-Score of 192.85 is 5417.9% above 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 Vardhman Holdings and its competitors. For the Asset Management industry, the median Altman Z-Score is 3.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vardhman Holdings's current Altman Z-Score is 192.85, which is 17% below median its own 10-year median of 233.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vardhman Holdings stock overvalued right now?
Based on GuruFocus' analysis, Vardhman Holdings (NSE:VHL) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹1,832.64, compared to a current price of ₹3,575.20 — trading 95.1% above its estimated fair value. The current Altman Z-Score is 192.85, which is 17% below median its 10-year median of 233.11 and 5417.9% above the Asset Management industry median of 3.50. Vardhman Holdings' overall GF Score™ is 66/100 with 5 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 Vardhman Holdings (NSE:VHL), the current Altman Z-Score is 192.85 as of Jul. 09, 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 Vardhman Holdings (NSE:VHL) Overvalued in 2026?
Based on GuruFocus' analysis, Vardhman Holdings stock appears to be overvalued.
The current stock price of ₹3,575.20 is trading 95.1% above its estimated GF Value™ of ₹1,832.64.
GuruFocus considers Vardhman Holdings to be Significantly Overvalued.
Key valuation signals for NSE:VHL:
Altman Z-Score: 192.85 (17% below median its 10-year median of 233.11)
GF Value™: ₹1,832.64 vs. price of ₹3,575.20 (95.1% above fair value)
Industry Position: 5417.9% above the Asset Management median (#19 of 650)
No single metric tells the full story. See the NSE:VHL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vardhman Holdings Ltd operates as a non-banking financial company. It is engaged in the Investment business, the company's sole segment. The company's portfolio consists of investments in debt, equity, and real estate. The group earns its income from investments.
66GF Score
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