Rainbow Papers Beneish M-Score Historical Data
The historical data trend for Rainbow Papers'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.
Rainbow Papers Beneish M-Score Chart
|
Rainbow Papers Annual Data
|
|
Trend |
Mar09 |
Mar10 |
Mar11 |
Mar12 |
Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
0.00 |
0.00 |
-0.42 |
-3.50 |
458.41 |
|
Rainbow Papers Quarterly Data
|
|
Mar13 |
Jun13 |
Sep13 |
Dec13 |
Mar14 |
Jun14 |
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Sep16 |
Mar17 |
Sep17 |
Dec17 |
Mar18 |
Sep18 |
Dec18 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
0.00 |
0.00 |
458.41 |
0.00 |
0.00 |
Rainbow Papers Beneish M-Score Competitor Comparison
For the Paper & Paper Products subindustry, Rainbow Papers'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.
Rainbow Papers Beneish M-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Rainbow Papers's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rainbow Papers's Beneish M-Score falls into.
Rainbow Papers 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 Rainbow Papers 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 * 1.6045 | + | 0.528 * 886.4432 | + | 0.404 * 0.153 | + | 0.892 * 0.0058 | + | 0.115 * 1.1112 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 28.4591 | + | 4.679 * -0.189116 | - | 0.327 * 1.1344 |
| = | 458.72 |
* 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 (Mar18) TTM: | Last Year (Mar17) TTM: |
Total Receivables was ₹0.67 Mil.
Revenue was ₹2.84 Mil.
Gross Profit was ₹0.00 Mil.
Total Current Assets was ₹480.02 Mil.
Total Assets was ₹12,363.89 Mil.
Property, Plant and Equipment(Net PPE) was ₹11,842.07 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,111.17 Mil.
Selling, General, & Admin. Expense(SGA) was ₹5.17 Mil.
Total Current Liabilities was ₹13,315.61 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-1,987.23 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹350.98 Mil.
|
Total Receivables was ₹72.06 Mil.
Revenue was ₹493.58 Mil.
Gross Profit was ₹154.01 Mil.
Total Current Assets was ₹800.55 Mil.
Total Assets was ₹14,064.50 Mil.
Property, Plant and Equipment(Net PPE) was ₹12,953.24 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,364.76 Mil.
Selling, General, & Admin. Expense(SGA) was ₹31.55 Mil.
Total Current Liabilities was ₹13,352.57 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.42 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) |
| = | (0.665 / 2.839) | / | (72.058 / 493.575) |
| = | 0.234237 | / | 0.145992 |
| | = | 1.6045 |
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) |
| = | (154.009 / 493.575) | / | (0.001 / 2.839) |
| = | 0.312028 | / | 0.000352 |
| | = | 886.4432 |
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 - (480.023 + 11842.071) / 12363.892) | / | (1 - (800.552 + 12953.244) / 14064.495) |
| = | 0.003381 | / | 0.022091 |
| | = | 0.153 |
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 |
| = | 2.839 | / | 493.575 |
| | = | 0.0058 |
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)) |
| = | (1364.757 / (1364.757 + 12953.244)) | / | (1111.172 / (1111.172 + 11842.071)) |
| = | 0.095318 | / | 0.085783 |
| | = | 1.1112 |
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) |
| = | (5.165 / 2.839) | / | (31.553 / 493.575) |
| = | 1.819303 | / | 0.063927 |
| | = | 28.4591 |
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 + 13315.608) / 12363.892) | / | ((0.423 + 13352.569) / 14064.495) |
| = | 1.076975 | / | 0.949411 |
| | = | 1.1344 |
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 |
| = | (-1987.233 - 0 | - | 350.975) | / | 12363.892 |
| | = | -0.189116 |
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.
Rainbow Papers has a M-score of 458.72 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOM:523523 has been successfully added to your 
