Krsnaa Diagnostics Beneish M-Score Historical Data
The historical data trend for Krsnaa Diagnostics'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.
Krsnaa Diagnostics Beneish M-Score Chart
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Krsnaa Diagnostics Annual Data
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Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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- |
-1.92 |
-2.23 |
-2.14 |
-1.87 |
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Krsnaa Diagnostics Quarterly Data
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Mar19 |
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Dec24 |
| Beneish M-Score |
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-1.87 |
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Competitive Comparison of Krsnaa Diagnostics's Beneish M-Score
For the Diagnostics & Research subindustry, Krsnaa Diagnostics'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.
Krsnaa Diagnostics's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Krsnaa Diagnostics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Krsnaa Diagnostics's Beneish M-Score falls into.
Krsnaa Diagnostics 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 Krsnaa Diagnostics 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 * 1.9227 | + | 0.528 * 1.0214 | + | 0.404 * 0.252 | + | 0.892 * 1.272 | + | 0.115 * 0.9924 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9016 | + | 4.679 * 0.027726 | - | 0.327 * 2.0332 |
| = | -1.87 |
* 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 ₹1,953 Mil.
Revenue was ₹6,196 Mil.
Gross Profit was ₹4,131 Mil.
Total Current Assets was ₹4,212 Mil.
Total Assets was ₹11,719 Mil.
Property, Plant and Equipment(Net PPE) was ₹6,909 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹745 Mil.
Selling, General, & Admin. Expense(SGA) was ₹130 Mil.
Total Current Liabilities was ₹2,815 Mil.
Long-Term Debt & Capital Lease Obligation was ₹419 Mil.
Net Income was ₹568 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹243 Mil.
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Total Receivables was ₹798 Mil.
Revenue was ₹4,871 Mil.
Gross Profit was ₹3,317 Mil.
Total Current Assets was ₹2,229 Mil.
Total Assets was ₹9,099 Mil.
Property, Plant and Equipment(Net PPE) was ₹5,027 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹538 Mil.
Selling, General, & Admin. Expense(SGA) was ₹113 Mil.
Total Current Liabilities was ₹992 Mil.
Long-Term Debt & Capital Lease Obligation was ₹243 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) |
| = | (1952.92 / 6196.33) | / | (798.49 / 4871.23) |
| = | 0.315174 | / | 0.16392 |
| | = | 1.9227 |
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) |
| = | (3317.37 / 4871.23) | / | (4131.25 / 6196.33) |
| = | 0.681013 | / | 0.666725 |
| | = | 1.0214 |
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 - (4211.86 + 6909.28) / 11719.13) | / | (1 - (2229.15 + 5027.06) / 9098.93) |
| = | 0.051027 | / | 0.202521 |
| | = | 0.252 |
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 |
| = | 6196.33 | / | 4871.23 |
| | = | 1.272 |
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)) |
| = | (537.82 / (537.82 + 5027.06)) | / | (745.47 / (745.47 + 6909.28)) |
| = | 0.096645 | / | 0.097387 |
| | = | 0.9924 |
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) |
| = | (130.06 / 6196.33) | / | (113.4 / 4871.23) |
| = | 0.02099 | / | 0.02328 |
| | = | 0.9016 |
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) |
| = | ((418.81 + 2814.66) / 11719.13) | / | ((242.84 + 991.94) / 9098.93) |
| = | 0.275914 | / | 0.135706 |
| | = | 2.0332 |
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 |
| = | (568.37 - 0 | - | 243.45) | / | 11719.13 |
| | = | 0.027726 |
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.
Krsnaa Diagnostics has a M-score of -1.87 suggests that the company is unlikely to be a manipulator.
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