Perfect-Octave Media Projects (BOM:521062) Beneish M-Score : -3.10 (As of May. 26, 2024)

View and export this data going back to 1993. Start your Free Trial

What is Perfect-Octave Media Projects Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.1 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Perfect-Octave Media Projects's Beneish M-Score or its related term are showing as below:

BOM:521062' s Beneish M-Score Range Over the Past 10 Years
Min: -7.99 Med: -3.02 Max: -0.88
Current: -3.1

During the past 13 years, the highest Beneish M-Score of Perfect-Octave Media Projects was -0.88. The lowest was -7.99. And the median was -3.02.

Perfect-Octave Media Projects Beneish M-Score Historical Data

The historical data trend for Perfect-Octave Media Projects'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.

* Premium members only.

Perfect-Octave Media Projects Beneish M-Score Chart

Perfect-Octave Media Projects Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

Get a 7-Day Free Trial

-2.03

-2.94

-1.32

-3.10

Perfect-Octave Media Projects Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-3.10	-	-	-

Competitive Comparison of Perfect-Octave Media Projects's Beneish M-Score

For the Broadcasting subindustry, Perfect-Octave Media Projects'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.

Perfect-Octave Media Projects's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Perfect-Octave Media Projects's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Perfect-Octave Media Projects's Beneish M-Score falls into.

Perfect-Octave Media Projects 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 Perfect-Octave Media Projects for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.0103

0.528 * 0.6668

0.404 * 1.0161

0.892 * 1.4876

0.115 * 3.1499

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.3798

4.679 * -0.041633

0.327 * 0.8694

-3.10

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was ₹0.03 Mil.
Revenue was ₹15.58 Mil.
Gross Profit was ₹11.76 Mil.
Total Current Assets was ₹0.15 Mil.
Total Assets was ₹120.70 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.25 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.02 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.23 Mil.
Total Current Liabilities was ₹37.31 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹4.21 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹9.23 Mil.

Total Receivables was ₹2.03 Mil.
Revenue was ₹10.48 Mil.
Gross Profit was ₹5.27 Mil.
Total Current Assets was ₹2.08 Mil.
Total Assets was ₹122.86 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.06 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.11 Mil.
Total Current Liabilities was ₹43.68 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 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)
	=	(0.031 / 15.584)	/	(2.032 / 10.476)
	=	0.001989	/	0.193967
	=	0.0103

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)
	=	(5.271 / 10.476)	/	(11.759 / 15.584)
	=	0.50315	/	0.754556
	=	0.6668

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 - (0.151 + 0.249) / 120.698)	/	(1 - (2.079 + 0.264) / 122.862)
	=	0.996686	/	0.98093
	=	1.0161

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
	=	15.584	/	10.476
	=	1.4876

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))
	=	(0.062 / (0.062 + 0.264))	/	(0.016 / (0.016 + 0.249))
	=	0.190184	/	0.060377
	=	3.1499

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)
	=	(0.234 / 15.584)	/	(0.114 / 10.476)
	=	0.015015	/	0.010882
	=	1.3798

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 + 37.312) / 120.698)	/	((0 + 43.684) / 122.862)
	=	0.309135	/	0.355553
	=	0.8694

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
	=	(4.206 - 0	-	9.231)	/	120.698
	=	-0.041633

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.

Perfect-Octave Media Projects has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.

Perfect-Octave Media Projects Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Perfect-Octave Media Projects's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Perfect-Octave Media Projects (BOM:521062) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Perfect-Octave Media Projects Ltd (BOM:521062) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

302, Mahakali Caves Road, 3rd Floor, New India Industrial Estate, Chakala, Near Paper Box, Andheri (E), Mumbai, MH, IND, 400093

Website

http://www.insyncmusic.net

Perfect-Octave Media Projects Ltd is engaged in the business of broadcasting. The company is operating a satellite television channel Insync which is showcasing Indian classical music and other non-film music genres. Also, the company is involved in the production of musical content. It is engaged in Television Broadcasting and Content Syndication Division.

Perfect-Octave Media Projects (BOM:521062) Headlines

No Headlines