Rajesh Exports Beneish M-Score Historical Data
The historical data trend for Rajesh Exports's Beneish M-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.
Rajesh Exports Beneish M-Score Chart
|
Rajesh Exports Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.48 |
-2.13 |
0.50 |
-2.23 |
-1.94 |
|
Rajesh Exports Quarterly Data
|
|
Sep18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
- |
-1.94 |
- |
- |
Competitive Comparison of Rajesh Exports's Beneish M-Score
For the Luxury Goods subindustry, Rajesh Exports's Beneish M-Score, along with its competitors' market caps and Beneish M-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.
Rajesh Exports's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Rajesh Exports's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rajesh Exports's Beneish M-Score falls into.
Rajesh Exports Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Rajesh Exports for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.6865 | + | 0.528 * 1.0805 | + | 0.404 * 1.1537 | + | 0.892 * 1.3972 | + | 0.115 * 1.5595 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8485 | + | 4.679 * 0.042361 | - | 0.327 * 0.738 |
| = | -1.94 |
* 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.
| This Year (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was ₹107,460 Mil.
Revenue was ₹3,396,895 Mil.
Gross Profit was ₹20,621 Mil.
Total Current Assets was ₹194,977 Mil.
Total Assets was ₹228,747 Mil.
Property, Plant and Equipment(Net PPE) was ₹12,305 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,006 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,865 Mil.
Total Current Liabilities was ₹80,392 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
Net Income was ₹14,323 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹4,633 Mil.
|
Total Receivables was ₹112,043 Mil.
Revenue was ₹2,431,279 Mil.
Gross Profit was ₹15,950 Mil.
Total Current Assets was ₹212,901 Mil.
Total Assets was ₹239,156 Mil.
Property, Plant and Equipment(Net PPE) was ₹6,803 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹909 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,574 Mil.
Total Current Liabilities was ₹113,890 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (107459.915 / 3396895.055) | / | (112042.815 / 2431279.366) |
| = | 0.031635 | / | 0.046084 |
| | = | 0.6865 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (15949.882 / 2431279.366) | / | (20621.389 / 3396895.055) |
| = | 0.00656 | / | 0.006071 |
| | = | 1.0805 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (194977.273 + 12305.102) / 228746.681) | / | (1 - (212900.909 + 6803.405) / 239156.055) |
| = | 0.093834 | / | 0.081335 |
| | = | 1.1537 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 3396895.055 | / | 2431279.366 |
| | = | 1.3972 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (908.741 / (908.741 + 6803.405)) | / | (1005.751 / (1005.751 + 12305.102)) |
| = | 0.117832 | / | 0.075559 |
| | = | 1.5595 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (1864.505 / 3396895.055) | / | (1573.633 / 2431279.366) |
| = | 0.000549 | / | 0.000647 |
| | = | 0.8485 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((0 + 80392) / 228746.681) | / | ((0 + 113890.381) / 239156.055) |
| = | 0.351446 | / | 0.476218 |
| | = | 0.738 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (14322.787 - 0 | - | 4632.74) | / | 228746.681 |
| | = | 0.042361 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Rajesh Exports has a M-score of -1.94 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BOM:531500 has been successfully added to your