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The fiscal years 2016-17 and 2017-18 were challenging ones for Z Limited located in Germany. The transition to new emission standards, coupled with the impact

The fiscal years 2016-17 and 2017-18 were challenging ones for Z Limited located in Germany. The transition to new emission standards, coupled with the impact of various external factors during the fiscal year 2016-17 had had its effects on the company's profitability during the first quarter of the fiscal year 2017-18. Following this, the management of the company initiated a turnaround during the year 2017-18 to improve Z' business performance. From their analysis, they required 15 million cash to turn things around.

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