UR Sugar Industries (BOM:539097) Beneish M-Score : 0.00 (As of Jun. 06, 2024)

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What is UR Sugar 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.

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

During the past 9 years, the highest Beneish M-Score of UR Sugar Industries was 863.35. The lowest was -7.23. And the median was 1.72.

UR Sugar Industries Beneish M-Score Historical Data

The historical data trend for UR Sugar 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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UR Sugar Industries Beneish M-Score Chart

UR Sugar Industries Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-7.23

863.35

0.92

UR Sugar Industries Quarterly Data
	Mar16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															0.92	-	-	-	-

Competitive Comparison of UR Sugar Industries's Beneish M-Score

For the Capital Markets subindustry, UR Sugar 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.

UR Sugar Industries's Beneish M-Score Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, UR Sugar Industries's Beneish M-Score distribution charts can be found below:

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

UR Sugar 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 UR Sugar 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was ₹0.00 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹-1.91 Mil.
Total Current Assets was ₹170.69 Mil.
Total Assets was ₹188.23 Mil.
Property, Plant and Equipment(Net PPE) was ₹17.54 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.51 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹6.65 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹5.57 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹127.28 Mil.

Total Receivables was ₹0.38 Mil.
Revenue was ₹90.26 Mil.
Gross Profit was ₹6.58 Mil.
Total Current Assets was ₹175.49 Mil.
Total Assets was ₹177.78 Mil.
Property, Plant and Equipment(Net PPE) was ₹2.02 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1.34 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3.24 Mil.
Total Current Liabilities was ₹1.03 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.74 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)
	=	(0 / 0)	/	(0.378 / 90.264)
	=		/	0.004188
	=

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)
	=	(6.578 / 90.264)	/	(-1.909 / 0)
	=	0.072875	/
	=

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 - (170.693 + 17.538) / 188.231)	/	(1 - (175.487 + 2.016) / 177.775)
	=	-0	/	0.00153
	=

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	/	90.264
	=

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))
	=	(1.343 / (1.343 + 2.016))	/	(0.51 / (0.51 + 17.538))
	=	0.399821	/	0.028258
	=

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 / 0)	/	(3.24 / 90.264)
	=		/	0.035895
	=

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 + 6.653) / 188.231)	/	((0.744 + 1.027) / 177.775)
	=	0.035345	/	0.009962
	=

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
	=	(5.573 - 0	-	127.276)	/	188.231
	=	-0.646562

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.

UR Sugar Industries Beneish M-Score Related Terms

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UR Sugar Industries (BOM:539097) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » UR Sugar Industries Ltd (BOM:539097) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

UR Building, Basweshware Circle, Bellad-Bagewadi, Taluka Hukkeri, District Belgaum, Belgaum, KA, IND, 591305

Website

https://www.hkglimited.com

UR Sugar Industries Ltd formerly HKG Ltd connects small businesses and empowers them to grow through its web interfaces and services. Its services include My RERA, Area Online, My Notification, My Locker, and Mera Financial, among others. It is also engaged in the trading of securities. The business verticals of the group have a presence in industries like Retail, Hyperlocal, E-commerce, Real Estate, Digital Marketing, News and Information, Web Services, and others.

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