Two ways to evaluate a firm

Use Altman's Z-score and Montier's C-score as basic hygiene before buying any company

The early results of Q1, 2019-20 are depressing. Consumption demand has slowed. The auto industry, and auto-ancillaries, are in the doldrums. FMCG growth rates are low. Construction major Larsen & Toubro says conditions are difficult. 

Above all, there’s an ongoing financial crisis. Both banks and non-banking financial companies (NBFCs) are in trouble. Among banks, PNB has declared profits, and so has Bank of Baroda. But both big PSU banks have massive non-performing assets (NPAs) and the gross NPA situation has not really improved. Among private sector banks, Yes Bank is in deep trouble while the rest are chugging along, with