Primech Holdings Ltd.
PMEC Industrials Specialty Business Services
Primech Holdings Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $78.0 million, up 4.92% from fiscal 2025. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Primech Holdings Ltd. (PMEC) Altman Z-score
Primech Holdings Ltd.'s Altman Z-score for fiscal 2026 is 2.00, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.00 | (0.27) |
| FY2025 | 2.27 | 0.06 |
| FY2024 | 2.22 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.19 | — | 0.23 | |
| Retained earnings / total assets | (0.32) | — | −0.44 | |
| EBIT / total assets | (0.05) | — | −0.15 | |
| Market value of equity / total liabilities | 0.88 | — | 0.53 | |
| Sales / total assets | 1.83 | — | 1.83 | |
| Altman Z-score | Grey zone | 2.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.36 | ||
Z and Z″ put Primech Holdings Ltd. in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| ANPA Rich Sparkle Holdings Limited compare | 73.5× |
| PC Premium Catering (Holdings) Limited compare | 72.3× |
| NTIP Network-1 Technologies, Inc. compare | 23.3× |
| YSXT YSX Tech Co., Ltd compare | 3.9× |
| SFHG Samfine Creation Holdings Group Limited compare | 3.4× |
| LICN Lichen International Limited compare | 2.2× |
| PMEC Primech Holdings Ltd. | 2.0× |
| WHLM Wilhelmina International, Inc. compare | −0.5× |
| SST System1, Inc. compare | −2.7× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets