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Pagaria Energy (BOM:531396) Beneish M-Score : 0.00 (As of May. 13, 2024)


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What is Pagaria Energy 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.

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

During the past 13 years, the highest Beneish M-Score of Pagaria Energy was -0.22. The lowest was -3.06. And the median was -2.13.


Pagaria Energy Beneish M-Score Historical Data

The historical data trend for Pagaria Energy'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.

Pagaria Energy Beneish M-Score Chart

Pagaria Energy Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.74 -0.22 -0.30 - -

Pagaria Energy 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison of Pagaria Energy's Beneish M-Score

For the Thermal Coal subindustry, Pagaria Energy'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.


Pagaria Energy's Beneish M-Score Distribution in the Other Energy Sources Industry

For the Other Energy Sources industry and Energy sector, Pagaria Energy's Beneish M-Score distribution charts can be found below:

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



Pagaria Energy 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 Pagaria Energy 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar23) TTM:Last Year (Mar22) TTM:
Total Receivables was ₹25.57 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹0.00 Mil.
Total Current Assets was ₹26.18 Mil.
Total Assets was ₹65.45 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.19 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.09 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.30 Mil.
Total Current Liabilities was ₹1.78 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1.64 Mil.
Net Income was ₹0.34 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-3.18 Mil.
Total Receivables was ₹25.04 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹-1.28 Mil.
Total Current Assets was ₹25.92 Mil.
Total Assets was ₹66.85 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.29 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.20 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.27 Mil.
Total Current Liabilities was ₹3.53 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1.64 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)
=(25.566 / 0) / (25.04 / 0)
= /
=

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)
=(-1.282 / 0) / (0 / 0)
= /
=

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 - (26.18 + 0.194) / 65.447) / (1 - (25.917 + 0.288) / 66.853)
=0.597017 / 0.608021
=

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
=0 / 0
=

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))
=(0.197 / (0.197 + 0.288)) / (0.094 / (0.094 + 0.194))
=0.406186 / 0.326389
=

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)
=(0.3 / 0) / (0.265 / 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)
=((1.635 + 1.78) / 65.447) / ((1.635 + 3.527) / 66.853)
=0.05218 / 0.077214
=

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
=(0.34 - 0 - -3.181) / 65.447
=0.053799

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.


Pagaria Energy Beneish M-Score Related Terms

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Pagaria Energy (BOM:531396) Business Description

Traded in Other Exchanges
N/A
Address
9/18, Bazar Gali, Vishwas Nagar, Shahdara, New Delhi, IND, 110032
Pagaria Energy Ltd is a company that operates in the coal business. The business activity of the group includes trading and supplying of coal and coal by-products. It provides various services which include coal trading, coal consultancy, and coal transportation. It offers steam coal, petroleum coal, charcoal, and char. Geographically, the company operates mainly in the Indian Market.

Pagaria Energy (BOM:531396) Headlines

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