Supreme Holdings & Hospitality (India) (BOM:530677) Beneish M-Score : 3.27 (As of May. 05, 2024)

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What is Supreme Holdings & Hospitality (India) 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.

Warning Sign:

Beneish M-Score 3.27 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Supreme Holdings & Hospitality (India)'s Beneish M-Score or its related term are showing as below:

BOM:530677' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21 Med: -1.7 Max: 4.38
Current: 3.27

During the past 13 years, the highest Beneish M-Score of Supreme Holdings & Hospitality (India) was 4.38. The lowest was -3.21. And the median was -1.70.

Supreme Holdings & Hospitality (India) Beneish M-Score Historical Data

The historical data trend for Supreme Holdings & Hospitality (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.

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Supreme Holdings & Hospitality (India) Beneish M-Score Chart

Supreme Holdings & Hospitality (India) Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

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-3.21

-2.72

-0.67

-3.02

3.27

Supreme Holdings & Hospitality (India) 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															-	3.27	-	-	-

Competitive Comparison of Supreme Holdings & Hospitality (India)'s Beneish M-Score

For the Real Estate - Development subindustry, Supreme Holdings & Hospitality (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.

Supreme Holdings & Hospitality (India)'s Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Supreme Holdings & Hospitality (India)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Supreme Holdings & Hospitality (India)'s Beneish M-Score falls into.

Supreme Holdings & Hospitality (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 Supreme Holdings & Hospitality (India) 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 * 1.5279

0.528 * 1.0705

0.404 * 0.2399

0.892 * 0.957

0.115 * 45.7381

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.008784

0.327 * 0.3353

3.27

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was ₹94.8 Mil.
Revenue was ₹731.1 Mil.
Gross Profit was ₹188.1 Mil.
Total Current Assets was ₹1,529.9 Mil.
Total Assets was ₹5,991.8 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,310.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹608.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 Mil.
Net Income was ₹119.4 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹66.8 Mil.

Total Receivables was ₹64.9 Mil.
Revenue was ₹764.0 Mil.
Gross Profit was ₹210.5 Mil.
Total Current Assets was ₹1,233.9 Mil.
Total Assets was ₹1,479.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹89.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹34.0 Mil.
Total Current Liabilities was ₹448.1 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 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)
	=	(94.826 / 731.118)	/	(64.852 / 763.963)
	=	0.1297	/	0.084889
	=	1.5279

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)
	=	(210.455 / 763.963)	/	(188.148 / 731.118)
	=	0.275478	/	0.257343
	=	1.0705

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 - (1529.895 + 4310.864) / 5991.83)	/	(1 - (1233.876 + 89.754) / 1479.047)
	=	0.025213	/	0.105079
	=	0.2399

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
	=	731.118	/	763.963
	=	0.957

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))
	=	(4.338 / (4.338 + 89.754))	/	(4.351 / (4.351 + 4310.864))
	=	0.046104	/	0.001008
	=	45.7381

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 / 731.118)	/	(33.956 / 763.963)
	=	0	/	0.044447
	=	0

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 + 608.571) / 5991.83)	/	((0 + 448.05) / 1479.047)
	=	0.101567	/	0.302932
	=	0.3353

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
	=	(119.399 - 0	-	66.768)	/	5991.83
	=	0.008784

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.

Supreme Holdings & Hospitality (India) has a M-score of 3.27 signals that the company is likely to be a manipulator.

Supreme Holdings & Hospitality (India) Beneish M-Score Related Terms

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Supreme Holdings & Hospitality (India) (BOM:530677) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Supreme Holdings & Hospitality (India) Ltd (BOM:530677) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Shri Satpal Malhotra Marg, Nagar Road, Office No. 510 to 513, 5th Floor, Platinum Square, Pune, MH, IND, 411014

Website

http://www.supremeholdings.net

Supreme Holdings & Hospitality (India) Ltd is engaged in the construction and development of residential and commercial projects. The company has three projects in line, two in Panvel and one in Pune. In Panvel, one project is in the plot allotment phase, and another project named Belmac Riverside is partly completed. It consists of 1BHK units and 2BHK units in 3 to 7 storey buildings. In Pune, a project named Belmac Residences is in its second phase and is nearing its completion. It consists of 6 Buildings of 15 story each of 2 BHK/3BHK/4BHK beautiful apartments with huge central garden, clubhouse, court, Hydroponic farm, Spa, Business Centre, Gymnasium, Banquet Hall, Games room, Daycare Centre, and many more facilities.

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