Starlit Power Systems Beneish M-Score Historical Data
The historical data trend for Starlit Power Systems'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.
Starlit Power Systems Beneish M-Score Chart
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Starlit Power Systems Annual Data
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| Beneish M-Score |
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-4.92 |
2.85 |
0.00 |
0.00 |
169.82 |
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Starlit Power Systems Quarterly Data
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Jun21 |
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| Beneish M-Score |
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0.00 |
0.00 |
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169.82 |
BOM:538733 vs VRT, HUBB: Beneish M-Score Comparison
For the Electrical Equipment & Parts subindustry, Starlit Power Systems'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.
Starlit Power Systems Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Starlit Power Systems's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Starlit Power Systems's Beneish M-Score falls into.
Starlit Power Systems 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 Starlit Power Systems 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 * 0.9395 | + | 0.528 * -0.0076 | + | 0.404 * 428.1259 | + | 0.892 * 1.0339 | + | 0.115 * 0.1607 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.002408 | - | 0.327 * 0.282 |
| = | 169.82 |
* 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 (Mar26) TTM: | Last Year (Mar25) TTM: |
Total Receivables was ₹45.21 Mil.
Revenue was ₹4.30 Mil.
Gross Profit was ₹-31.01 Mil.
Total Current Assets was ₹116.58 Mil.
Total Assets was ₹9,655.82 Mil.
Property, Plant and Equipment(Net PPE) was ₹213.15 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1.01 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹2.62 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-187.40 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-164.15 Mil.
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Total Receivables was ₹46.54 Mil.
Revenue was ₹4.16 Mil.
Gross Profit was ₹0.23 Mil.
Total Current Assets was ₹9,656.13 Mil.
Total Assets was ₹9,850.06 Mil.
Property, Plant and Equipment(Net PPE) was ₹171.70 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.13 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.32 Mil.
Total Current Liabilities was ₹9.46 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
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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) |
| = | (45.208 / 4.3) | / | (46.541 / 4.159) |
| = | 10.513488 | / | 11.19043 |
| | = | 0.9395 |
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) |
| = | (0.229 / 4.159) | / | (-31.01 / 4.3) |
| = | 0.055061 | / | -7.211628 |
| | = | -0.0076 |
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 - (116.579 + 213.149) / 9655.815) | / | (1 - (9656.132 + 171.702) / 9850.056) |
| = | 0.965852 | / | 0.002256 |
| | = | 428.1259 |
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 |
| = | 4.3 | / | 4.159 |
| | = | 1.0339 |
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)) |
| = | (0.13 / (0.13 + 171.702)) | / | (1.009 / (1.009 + 213.149)) |
| = | 0.000757 | / | 0.004711 |
| | = | 0.1607 |
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 / 4.3) | / | (0.322 / 4.159) |
| = | 0 | / | 0.077422 |
| | = | 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 + 2.62) / 9655.815) | / | ((0 + 9.464) / 9850.056) |
| = | 0.000271 | / | 0.000961 |
| | = | 0.282 |
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 |
| = | (-187.397 - 0 | - | -164.149) | / | 9655.815 |
| | = | -0.002408 |
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.
Starlit Power Systems has a M-score of 169.82 signals that the company is likely to be a manipulator.
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