Gillette India Beneish M-Score Historical Data
The historical data trend for Gillette India'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.
Gillette India Beneish M-Score Chart
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Gillette India Annual Data
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Trend |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-2.41 |
-3.07 |
-2.81 |
-2.58 |
-2.89 |
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Gillette India Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
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Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.89 |
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Competitive Comparison of Gillette India's Beneish M-Score
For the Household & Personal Products subindustry, Gillette India'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.
Gillette India's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Gillette India's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gillette India's Beneish M-Score falls into.
Gillette India 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 Gillette India 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 * 0.7875 | + | 0.528 * 0.897 | + | 0.404 * 1.1663 | + | 0.892 * 1.063 | + | 0.115 * 0.8833 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1534 | + | 4.679 * -0.053169 | - | 0.327 * 0.9709 |
| = | -2.89 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was ₹2,793 Mil.
Revenue was ₹26,331 Mil.
Gross Profit was ₹14,821 Mil.
Total Current Assets was ₹11,866 Mil.
Total Assets was ₹18,308 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,729 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹826 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3,828 Mil.
Total Current Liabilities was ₹7,590 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1 Mil.
Net Income was ₹4,117 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹5,090 Mil.
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Total Receivables was ₹3,337 Mil.
Revenue was ₹24,771 Mil.
Gross Profit was ₹12,507 Mil.
Total Current Assets was ₹12,499 Mil.
Total Assets was ₹19,162 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,228 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹807 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3,122 Mil.
Total Current Liabilities was ₹8,183 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1 Mil.
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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) |
| = | (2793.1 / 26330.8) | / | (3336.5 / 24770.5) |
| = | 0.106077 | / | 0.134697 |
| | = | 0.7875 |
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) |
| = | (12506.9 / 24770.5) | / | (14821.4 / 26330.8) |
| = | 0.504911 | / | 0.562892 |
| | = | 0.897 |
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 - (11866.1 + 3728.5) / 18307.5) | / | (1 - (12498.7 + 4228.3) / 19161.5) |
| = | 0.148185 | / | 0.127052 |
| | = | 1.1663 |
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 |
| = | 26330.8 | / | 24770.5 |
| | = | 1.063 |
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)) |
| = | (806.9 / (806.9 + 4228.3)) | / | (826.4 / (826.4 + 3728.5)) |
| = | 0.160252 | / | 0.181431 |
| | = | 0.8833 |
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) |
| = | (3828.2 / 26330.8) | / | (3122.3 / 24770.5) |
| = | 0.145389 | / | 0.126049 |
| | = | 1.1534 |
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) |
| = | ((0.5 + 7590.4) / 18307.5) | / | ((0.5 + 8182.9) / 19161.5) |
| = | 0.414633 | / | 0.427075 |
| | = | 0.9709 |
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 |
| = | (4117 - 0 | - | 5090.4) | / | 18307.5 |
| | = | -0.053169 |
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.
Gillette India has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
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