Accent Microcell Beneish M-Score Historical Data
The historical data trend for Accent Microcell'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.
Accent Microcell Beneish M-Score Chart
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Accent Microcell Annual Data
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Trend |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
-1.67 |
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Accent Microcell Semi-Annual Data
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|
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
- |
- |
-1.67 |
Competitive Comparison of Accent Microcell's Beneish M-Score
For the Drug Manufacturers - Specialty & Generic subindustry, Accent Microcell'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.
Accent Microcell's Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Accent Microcell's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Accent Microcell's Beneish M-Score falls into.
Accent Microcell 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 Accent Microcell 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 * 1.0776 | + | 0.528 * 1.0729 | + | 0.404 * 1.9452 | + | 0.892 * 1.2322 | + | 0.115 * 1.0098 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.755 | + | 4.679 * 0.045469 | - | 0.327 * 0.9282 |
| = | -1.67 |
* 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 ₹252 Mil.
Revenue was ₹2,042 Mil.
Gross Profit was ₹591 Mil.
Total Current Assets was ₹823 Mil.
Total Assets was ₹1,141 Mil.
Property, Plant and Equipment(Net PPE) was ₹303 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹41 Mil.
Selling, General, & Admin. Expense(SGA) was ₹21 Mil.
Total Current Liabilities was ₹626 Mil.
Long-Term Debt & Capital Lease Obligation was ₹55 Mil.
Net Income was ₹130 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹78 Mil.
|
Total Receivables was ₹190 Mil.
Revenue was ₹1,657 Mil.
Gross Profit was ₹515 Mil.
Total Current Assets was ₹639 Mil.
Total Assets was ₹946 Mil.
Property, Plant and Equipment(Net PPE) was ₹301 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹41 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10 Mil.
Total Current Liabilities was ₹539 Mil.
Long-Term Debt & Capital Lease Obligation was ₹69 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) |
| = | (251.825 / 2041.876) | / | (189.655 / 1657.113) |
| = | 0.12333 | / | 0.114449 |
| | = | 1.0776 |
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) |
| = | (514.955 / 1657.113) | / | (591.417 / 2041.876) |
| = | 0.310754 | / | 0.289644 |
| | = | 1.0729 |
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 - (823.354 + 302.909) / 1140.969) | / | (1 - (639.222 + 300.613) / 946.104) |
| = | 0.012889 | / | 0.006626 |
| | = | 1.9452 |
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 |
| = | 2041.876 | / | 1657.113 |
| | = | 1.2322 |
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)) |
| = | (41.47 / (41.47 + 300.613)) | / | (41.327 / (41.327 + 302.909)) |
| = | 0.121228 | / | 0.120054 |
| | = | 1.0098 |
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) |
| = | (20.723 / 2041.876) | / | (9.583 / 1657.113) |
| = | 0.010149 | / | 0.005783 |
| | = | 1.755 |
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) |
| = | ((54.741 + 626.463) / 1140.969) | / | ((69.319 + 539.207) / 946.104) |
| = | 0.59704 | / | 0.643191 |
| | = | 0.9282 |
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 |
| = | (130.102 - 0 | - | 78.223) | / | 1140.969 |
| | = | 0.045469 |
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.
Accent Microcell has a M-score of -1.67 signals that the company is likely to be a manipulator.
Accent Microcell (NSE:ACCENTMIC) Business Description
Traded in Other Exchanges
N/A
Address
Shyamal Cross Roads, Anandnagar Road, 314, Shangrilla Arcade, Satellite, Ahmedabad, GJ, IND, 380015
Accent Microcell Ltd is a manufacturer of Pharmaceutical Products. It has Products such as Microcrystalline cellulose is a term for refined wood pulp and is used as a texturizer, an anti-caking agent, a fat substitute, an emulsifier, an extender, and a bulking agent in food production; Cross Carmellose Sodium Croscarmellose sodium is an internally cross-linked sodium carboxymethylcellulose for use as a super disintegrant in pharmaceutical formulations; Magnesium Stearate which is also called octadecanoic acid, magnesium salt, is a white substance, powder which becomes solid at room temperature and also produces Cellulose Powder is white or almost white, odourless, tasteless, Practically insoluble in water, dilute acid and organic solvents, Slightly soluble in dilute NaOH solution.
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