Arihant Foundations & Housing Beneish M-Score Historical Data
The historical data trend for Arihant Foundations & Housing'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.
Arihant Foundations & Housing Beneish M-Score Chart
|
Arihant Foundations & Housing Annual Data
|
|
Trend |
Sep13 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-1.82 |
-4.38 |
-2.34 |
-4.24 |
-1.77 |
|
Arihant Foundations & Housing Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-4.24 |
- |
- |
- |
-1.77 |
Competitive Comparison of Arihant Foundations & Housing's Beneish M-Score
For the Real Estate - Development subindustry, Arihant Foundations & Housing'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.
Arihant Foundations & Housing's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Arihant Foundations & Housing's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Arihant Foundations & Housing's Beneish M-Score falls into.
Arihant Foundations & Housing 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 Arihant Foundations & Housing 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 * 0.4775 | + | 0.528 * 1.3104 | + | 0.404 * 0.9611 | + | 0.892 * 1.9306 | + | 0.115 * 0.0823 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * 0.024434 | - | 0.327 * 0.8999 |
| = | -1.77 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₹711 Mil.
Revenue was ₹1,241 Mil.
Gross Profit was ₹431 Mil.
Total Current Assets was ₹2,556 Mil.
Total Assets was ₹4,424 Mil.
Property, Plant and Equipment(Net PPE) was ₹91 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹68 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹1,350 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,113 Mil.
Net Income was ₹135 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹27 Mil.
|
Total Receivables was ₹771 Mil.
Revenue was ₹643 Mil.
Gross Profit was ₹292 Mil.
Total Current Assets was ₹2,775 Mil.
Total Assets was ₹4,918 Mil.
Property, Plant and Equipment(Net PPE) was ₹87 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹38 Mil.
Total Current Liabilities was ₹1,682 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,361 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) |
| = | (710.6 / 1240.8) | / | (770.799 / 642.7) |
| = | 0.572695 | / | 1.199314 |
| | = | 0.4775 |
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) |
| = | (292.4 / 642.7) | / | (430.8 / 1240.8) |
| = | 0.454956 | / | 0.347195 |
| | = | 1.3104 |
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 - (2556.2 + 90.6) / 4424.1) | / | (1 - (2775.158 + 87.229) / 4917.987) |
| = | 0.401731 | / | 0.417976 |
| | = | 0.9611 |
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 |
| = | 1240.8 | / | 642.7 |
| | = | 1.9306 |
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)) |
| = | (3.2 / (3.2 + 87.229)) | / | (68.4 / (68.4 + 90.6)) |
| = | 0.035387 | / | 0.430189 |
| | = | 0.0823 |
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 / 1240.8) | / | (38.391 / 642.7) |
| = | 0 | / | 0.059734 |
| | = | 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) |
| = | ((1113.2 + 1350.2) / 4424.1) | / | ((1360.838 + 1682.061) / 4917.987) |
| = | 0.556814 | / | 0.618729 |
| | = | 0.8999 |
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 |
| = | (135.1 - 0 | - | 27) | / | 4424.1 |
| | = | 0.024434 |
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.
Arihant Foundations & Housing has a M-score of -1.77 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BOM:531381 has been successfully added to your