Roopa Industries (BOM:530991) Beneish M-Score : -1.81 (As of Apr. 21, 2025)

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What is Roopa Industries 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 -1.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Roopa Industries's Beneish M-Score or its related term are showing as below:

BOM:530991' s Beneish M-Score Range Over the Past 10 Years
Min: -3.38 Med: -1.87 Max: 1.65
Current: -1.81

During the past 13 years, the highest Beneish M-Score of Roopa Industries was 1.65. The lowest was -3.38. And the median was -1.87.

Roopa Industries Beneish M-Score Historical Data

The historical data trend for Roopa Industries'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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Roopa Industries Beneish M-Score Chart

Roopa Industries Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-3.38

-2.54

-1.65

1.65

-1.81

Roopa Industries Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-	-1.81	-	-	-

Competitive Comparison of Roopa Industries's Beneish M-Score

For the Chemicals subindustry, Roopa Industries'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.

Roopa Industries's Beneish M-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Roopa Industries's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Roopa Industries's Beneish M-Score falls into.

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Roopa Industries 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 Roopa Industries 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 * 1.2567

0.528 * 0.842

0.404 * 1.5811

0.892 * 0.9246

0.115 * 0.9123

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8792

4.679 * 0.074271

0.327 * 1.0136

-1.81

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was ₹106 Mil.
Revenue was ₹704 Mil.
Gross Profit was ₹156 Mil.
Total Current Assets was ₹486 Mil.
Total Assets was ₹647 Mil.
Property, Plant and Equipment(Net PPE) was ₹97 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹7 Mil.
Total Current Liabilities was ₹426 Mil.
Long-Term Debt & Capital Lease Obligation was ₹53 Mil.
Net Income was ₹15 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-33 Mil.

Total Receivables was ₹91 Mil.
Revenue was ₹762 Mil.
Gross Profit was ₹142 Mil.
Total Current Assets was ₹421 Mil.
Total Assets was ₹565 Mil.
Property, Plant and Equipment(Net PPE) was ₹109 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹8 Mil.
Total Current Liabilities was ₹392 Mil.
Long-Term Debt & Capital Lease Obligation was ₹20 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)
	=	(105.653 / 704.262)	/	(90.934 / 761.717)
	=	0.150019	/	0.11938
	=	1.2567

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)
	=	(141.827 / 761.717)	/	(155.741 / 704.262)
	=	0.186194	/	0.221141
	=	0.842

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 - (486.372 + 96.903) / 646.791)	/	(1 - (420.979 + 109.387) / 565.488)
	=	0.098202	/	0.062109
	=	1.5811

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
	=	704.262	/	761.717
	=	0.9246

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))
	=	(8.908 / (8.908 + 109.387))	/	(8.718 / (8.718 + 96.903))
	=	0.075303	/	0.08254
	=	0.9123

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)
	=	(6.757 / 704.262)	/	(8.312 / 761.717)
	=	0.009594	/	0.010912
	=	0.8792

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)
	=	((52.791 + 425.601) / 646.791)	/	((20.227 + 392.407) / 565.488)
	=	0.739639	/	0.729695
	=	1.0136

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
	=	(15.191 - 0	-	-32.847)	/	646.791
	=	0.074271

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.

Roopa Industries has a M-score of -1.81 suggests that the company is unlikely to be a manipulator.

Roopa Industries Beneish M-Score Related Terms

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Roopa Industries Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Roopa Industries Ltd (BOM:530991) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

6-2-1012, TGV Mansion, 3rd floor, Khairatabad, Above ICICI Bank, Hyderabad, TG, IND, 500004

Website

https://www.roopaindustries.com

Roopa Industries Ltd is an Indian Active Pharma Ingredient(API) and Pharmaceutical Intermediates company engaged in manufacturing, selling and exporting nutraceuticals, bulk drugs, and fine chemicals. It offers glucosamine, a nutraceutical/nutritional supplement used for arthritis treatment; and triphenylphosphine, which have applications in antibiotics, statins, specialty resins/paints, fire retardants, phosphonium salts, phase transfer catalysts, agriculture-related products as well as in organic synthesis. The other products offered by the company include Bromine and its derivatives, Esomeprazole Magnesium Trihydrate, and Tamsulosin. The company generates all of its revenue from the sale of its products.

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