One97 Communications Beneish M-Score Historical Data
The historical data trend for One97 Communications'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.
One97 Communications Beneish M-Score Chart
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One97 Communications Annual Data
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Mar19 |
Mar20 |
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Mar22 |
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Mar24 |
| Beneish M-Score |
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- |
- |
-1.41 |
-3.82 |
-2.83 |
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One97 Communications Quarterly Data
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Mar19 |
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Sep21 |
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Sep24 |
| Beneish M-Score |
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-3.29 |
-3.12 |
-2.83 |
-2.96 |
-2.45 |
Competitive Comparison of One97 Communications's Beneish M-Score
For the Software - Infrastructure subindustry, One97 Communications'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.
One97 Communications's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, One97 Communications's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where One97 Communications's Beneish M-Score falls into.
One97 Communications 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 One97 Communications 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 * 1.215 | + | 0.528 * 1.0631 | + | 0.404 * 0.9383 | + | 0.892 * 0.8909 | + | 0.115 * 0.746 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.955 | + | 4.679 * -0.037358 | - | 0.327 * 0.629 |
| = | -2.45 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ₹13,528 Mil.
Revenue was 16595 + 15016 + 21592 + 28505 = ₹81,708 Mil.
Gross Profit was 1539 + -1504 + 17744 + 5107 = ₹22,886 Mil.
Total Current Assets was ₹125,261 Mil.
Total Assets was ₹182,047 Mil.
Property, Plant and Equipment(Net PPE) was ₹9,174 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7,535 Mil.
Selling, General, & Admin. Expense(SGA) was ₹9,037 Mil.
Total Current Liabilities was ₹33,826 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,354 Mil.
Net Income was 9283 + -8389 + -5497 + -2198 = ₹-6,801 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₹0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = ₹0 Mil.
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Total Receivables was ₹12,497 Mil.
Revenue was 25186 + 23416 + 22486 + 20622 = ₹91,710 Mil.
Gross Profit was 3551 + 3139 + 18539 + 2079 = ₹27,308 Mil.
Total Current Assets was ₹125,847 Mil.
Total Assets was ₹191,520 Mil.
Property, Plant and Equipment(Net PPE) was ₹12,288 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6,230 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10,621 Mil.
Total Current Liabilities was ₹57,119 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,724 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) |
| = | (13528 / 81708) | / | (12497 / 91710) |
| = | 0.165565 | / | 0.136266 |
| | = | 1.215 |
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) |
| = | (27308 / 91710) | / | (22886 / 81708) |
| = | 0.297765 | / | 0.280095 |
| | = | 1.0631 |
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 - (125261 + 9174) / 182047) | / | (1 - (125847 + 12288) / 191520) |
| = | 0.261537 | / | 0.278744 |
| | = | 0.9383 |
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 |
| = | 81708 | / | 91710 |
| | = | 0.8909 |
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)) |
| = | (6230 / (6230 + 12288)) | / | (7535 / (7535 + 9174)) |
| = | 0.336429 | / | 0.450955 |
| | = | 0.746 |
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) |
| = | (9037 / 81708) | / | (10621 / 91710) |
| = | 0.110601 | / | 0.115811 |
| | = | 0.955 |
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) |
| = | ((1354 + 33826) / 182047) | / | ((1724 + 57119) / 191520) |
| = | 0.193247 | / | 0.307242 |
| | = | 0.629 |
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 |
| = | (-6801 - 0 | - | 0) | / | 182047 |
| | = | -0.037358 |
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.
One97 Communications has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
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