Table 17.

Year wise Altman’s Z scores of the alternatives.

	Altman’s Z score
	2013–14	2014–15	2015–16	2016–17	2017–18	2018–19	2019–20	2020–21
A1	17.88	22.187	22.999	17.097	16.038	21.038	18.425	17.452
A2	19.31	19.307	16.790	15.105	13.495	12.147	13.715	14.884
A3	16.82	10.115	10.810	10.744	9.590	8.362	6.680	3.742
A4	48.77	54.687	52.529	41.133	34.999	20.501	15.783	14.809
A5	19.08	18.936	18.626	21.288	10.012	7.025	7.217	7.433
A6	14.73	13.273	11.082	10.238	8.796	8.761	7.007	7.664
A7	33.94	30.356	28.420	24.857	37.463	35.578	37.229	27.739
A8	2.37	2.510	2.656	3.543	2.680	2.982	2.619	4.937
A9	25.26	38.578	13.772	18.004	21.014	24.585	19.295	22.209
A10	2.90	1.007	1.501	1.656	1.896	1.908	1.325	−0.333
A11	25.61	23.632	21.951	22.361	22.074	25.463	24.364	18.607
A12	7.18	7.212	8.494	9.624	8.218	5.864	4.836	4.577
A13	23.14	22.919	17.583	16.117	14.743	14.089	14.838	14.867
A14	20.23	16.594	15.515	12.374	8.869	10.120	8.478	7.638
A15	38.36	47.578	43.363	37.001	36.199	33.355	17.639	18.058
A16	17.93	26.567	24.622	20.984	19.483	20.747	18.265	17.315
A17	4.30	4.651	4.749	4.630	5.585	5.065	5.714	5.568
A18	3.77	3.703	3.883	4.217	4.260	3.858	4.975	5.925
A19	25.96	43.630	46.471	41.240	32.358	33.082	29.498	29.429
A20	37.41	33.123	30.986	28.683	25.655	22.452	20.851	20.391
A21	55.39	40.558	54.699	44.360	45.699	40.957	42.255	32.928
A22	7.87	7.788	6.131	7.503	9.161	11.770	9.878	11.011
A23	17.56	42.597	64.968	61.394	72.446	33.943	19.343	18.154
A24	13.92	15.047	13.681	14.226	15.170	14.481	14.284	12.719
A25	76.08	197.495	122.599	120.874	3.797	3.818	60.676	64.858
A26	3.85	3.671	2.821	2.954	2.732	2.956	3.659	3.077
A27	43.73	38.618	37.833	28.487	28.075	27.399	25.423	24.376
A28	41.29	26.878	30.213	29.847	23.464	19.753	15.487	13.021
A29	9.54	9.453	8.047	7.501	7.217	6.769	7.042	6.002
A30	15.95	14.256	11.173	11.332	10.407	9.251	7.805	8.075