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Bannari Amman Sugars (BOM:500041) Piotroski F-Score : 8 (As of Dec. 11, 2024)


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What is Bannari Amman Sugars Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bannari Amman Sugars has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Bannari Amman Sugars's Piotroski F-Score or its related term are showing as below:

BOM:500041' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Bannari Amman Sugars was 8. The lowest was 2. And the median was 5.


Bannari Amman Sugars Piotroski F-Score Historical Data

The historical data trend for Bannari Amman Sugars's Piotroski F-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.

* Premium members only.

Bannari Amman Sugars Piotroski F-Score Chart

Bannari Amman Sugars Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 6.00 5.00 8.00 8.00

Bannari Amman Sugars Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - 8.00 - -

Competitive Comparison of Bannari Amman Sugars's Piotroski F-Score

For the Confectioners subindustry, Bannari Amman Sugars's Piotroski F-Score, along with its competitors' market caps and Piotroski F-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.


Bannari Amman Sugars's Piotroski F-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Bannari Amman Sugars's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bannari Amman Sugars's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹1,523 Mil.
Cash Flow from Operations was ₹2,742 Mil.
Revenue was ₹22,179 Mil.
Gross Profit was ₹6,107 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (23586.783 + 24349.554) / 2 = ₹23968.1685 Mil.
Total Assets at the begining of this year (Mar23) was ₹23,587 Mil.
Long-Term Debt & Capital Lease Obligation was ₹675 Mil.
Total Current Assets was ₹11,927 Mil.
Total Current Liabilities was ₹5,715 Mil.
Net Income was ₹1,434 Mil.

Revenue was ₹25,194 Mil.
Gross Profit was ₹6,244 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (25685.238 + 23586.783) / 2 = ₹24636.0105 Mil.
Total Assets at the begining of last year (Mar22) was ₹25,685 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,575 Mil.
Total Current Assets was ₹11,672 Mil.
Total Current Liabilities was ₹5,733 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bannari Amman Sugars's current Net Income (TTM) was 1,523. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bannari Amman Sugars's current Cash Flow from Operations (TTM) was 2,742. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=1523.022/23586.783
=0.06457099

ROA (Last Year)=Net Income/Total Assets (Mar22)
=1433.914/25685.238
=0.05582639

Bannari Amman Sugars's return on assets of this year was 0.06457099. Bannari Amman Sugars's return on assets of last year was 0.05582639. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Bannari Amman Sugars's current Net Income (TTM) was 1,523. Bannari Amman Sugars's current Cash Flow from Operations (TTM) was 2,742. ==> 2,742 > 1,523 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=675.364/23968.1685
=0.02817754

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1574.841/24636.0105
=0.06392435

Bannari Amman Sugars's gearing of this year was 0.02817754. Bannari Amman Sugars's gearing of last year was 0.06392435. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=11927.243/5714.881
=2.08705011

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=11671.606/5732.662
=2.03598363

Bannari Amman Sugars's current ratio of this year was 2.08705011. Bannari Amman Sugars's current ratio of last year was 2.03598363. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Bannari Amman Sugars's number of shares in issue this year was 12.54. Bannari Amman Sugars's number of shares in issue last year was 12.54. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=6106.863/22179.319
=0.27534042

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=6244.467/25194.37
=0.24785168

Bannari Amman Sugars's gross margin of this year was 0.27534042. Bannari Amman Sugars's gross margin of last year was 0.24785168. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=22179.319/23586.783
=0.94032828

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=25194.37/25685.238
=0.9808891

Bannari Amman Sugars's asset turnover of this year was 0.94032828. Bannari Amman Sugars's asset turnover of last year was 0.9808891. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+1+1+0
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bannari Amman Sugars has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Bannari Amman Sugars  (BOM:500041) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Bannari Amman Sugars Piotroski F-Score Related Terms

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Bannari Amman Sugars Business Description

Traded in Other Exchanges
Address
1212, Trichy Road, Coimbatore, TN, IND, 641018
Bannari Amman Sugars Ltd is an India based industrial conglomerate engaged in the manufacturing, trading and service activities. The company manufactures and trades in products segment of Sugar, Power, Distillery and Granite products. It generates the majority of the revenue from the Sugar products. The group markets the products in India, and also exports sugar and granite products internationally, of which majority of the revenue is generated from the sales made in India.

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