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Orient Technologies (BOM:544235) Piotroski F-Score : 5 (As of Apr. 09, 2025)


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What is Orient Technologies Piotroski F-Score?

The zones of discrimination were as such:

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

Orient Technologies has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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

BOM:544235' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 5   Max: 5
Current: 5

During the past 3 years, the highest Piotroski F-Score of Orient Technologies was 5. The lowest was 5. And the median was 5.


Orient Technologies Piotroski F-Score Historical Data

The historical data trend for Orient Technologies'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.

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Orient Technologies Piotroski F-Score Chart

Orient Technologies Annual Data
Trend Mar22 Mar23 Mar24
Piotroski F-Score
N/A N/A 5.00

Orient Technologies Quarterly Data
Mar22 Mar23 Dec23 Mar24 Dec24
Piotroski F-Score N/A N/A - 5.00 -

Competitive Comparison of Orient Technologies's Piotroski F-Score

For the Information Technology Services subindustry, Orient Technologies'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.


Orient Technologies's Piotroski F-Score Distribution in the Software Industry

For the Software industry and Technology sector, Orient Technologies's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Orient Technologies's Piotroski F-Score falls into.


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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 ₹414 Mil.
Cash Flow from Operations was ₹223 Mil.
Revenue was ₹6,029 Mil.
Gross Profit was ₹1,107 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (2399.4 + 3111.44) / 2 = ₹2755.42 Mil.
Total Assets at the begining of this year (Mar23) was ₹2,399 Mil.
Long-Term Debt & Capital Lease Obligation was ₹58 Mil.
Total Current Assets was ₹2,799 Mil.
Total Current Liabilities was ₹1,250 Mil.
Net Income was ₹383 Mil.

Revenue was ₹5,351 Mil.
Gross Profit was ₹1,026 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (1930.34 + 2399.4) / 2 = ₹2164.87 Mil.
Total Assets at the begining of last year (Mar22) was ₹1,930 Mil.
Long-Term Debt & Capital Lease Obligation was ₹97 Mil.
Total Current Assets was ₹2,152 Mil.
Total Current Liabilities was ₹973 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.

Orient Technologies's current Net Income (TTM) was 414. ==> 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.

Orient Technologies's current Cash Flow from Operations (TTM) was 223. ==> 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)
=414.48/2399.4
=0.17274319

ROA (Last Year)=Net Income/Total Assets (Mar22)
=382.98/1930.34
=0.19840028

Orient Technologies's return on assets of this year was 0.17274319. Orient Technologies's return on assets of last year was 0.19840028. ==> Last year is higher ==> Score 0.

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.

Orient Technologies's current Net Income (TTM) was 414. Orient Technologies's current Cash Flow from Operations (TTM) was 223. ==> 223 <= 414 ==> CFROA <= ROA ==> Score 0.

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
=58.21/2755.42
=0.02112564

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=97.01/2164.87
=0.044811

Orient Technologies's gearing of this year was 0.02112564. Orient Technologies's gearing of last year was 0.044811. ==> 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
=2798.84/1249.66
=2.23968119

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=2152.48/972.96
=2.21230061

Orient Technologies's current ratio of this year was 2.23968119. Orient Technologies's current ratio of last year was 2.21230061. ==> 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.

Orient Technologies's number of shares in issue this year was 41.642. Orient Technologies's number of shares in issue last year was 41.642. ==> 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
=1107.04/6028.93
=0.18362131

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1025.78/5351.02
=0.19169803

Orient Technologies's gross margin of this year was 0.18362131. Orient Technologies's gross margin of last year was 0.19169803. ==> Last year's gross margin is higher ==> Score 0.

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)
=6028.93/2399.4
=2.51268234

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=5351.02/1930.34
=2.77206088

Orient Technologies's asset turnover of this year was 2.51268234. Orient Technologies's asset turnover of last year was 2.77206088. ==> 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+0+0+1+1+1+0+0
=5

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

Orient Technologies has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Orient Technologies  (BOM:544235) 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.


Orient Technologies Piotroski F-Score Related Terms

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Orient Technologies Business Description

Traded in Other Exchanges
Address
MIDC Central Road, 602, Ackruti Center Point, Andheri (East), Mumbai, MH, IND, 400093
Orient Technologies Ltd is an information technology (IT) solutions provider. It includes three segments: IT Infrastructure Products and Services segment which include products and solutions include Data Centre Solutions and End-User Computing. IT Enabled Services (IteS) segment include services include Managed Services, Multi-Vendor Support Services, IT Facility Management Services, Network Operations Centre Services, Security Services, and Renewals. Cloud and Data Management Services segment include services include migration of workload from data centers to cloud. Key revenue is generated from IT Infrastructure segment.

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