Supriya Lifescience Beneish M-Score Historical Data
The historical data trend for Supriya Lifescience'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.
Supriya Lifescience Beneish M-Score Chart
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Supriya Lifescience Annual Data
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Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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- |
-1.86 |
-1.09 |
-1.16 |
-1.69 |
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Supriya Lifescience Quarterly Data
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Mar19 |
Mar20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-1.16 |
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-1.69 |
Competitive Comparison of Supriya Lifescience's Beneish M-Score
For the Biotechnology subindustry, Supriya Lifescience'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.
Supriya Lifescience's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Supriya Lifescience's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Supriya Lifescience's Beneish M-Score falls into.
Supriya Lifescience 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 Supriya Lifescience 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 * 0.7991 | + | 0.528 * 0.9943 | + | 0.404 * 2.1545 | + | 0.892 * 1.2374 | + | 0.115 * 1.0402 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * 0.006303 | - | 0.327 * 0.7202 |
| = | -1.69 |
* 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 ₹1,124 Mil.
Revenue was ₹5,704 Mil.
Gross Profit was ₹3,486 Mil.
Total Current Assets was ₹3,978 Mil.
Total Assets was ₹9,212 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,573 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹158 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹769 Mil.
Long-Term Debt & Capital Lease Obligation was ₹50 Mil.
Net Income was ₹1,191 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹1,133 Mil.
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Total Receivables was ₹1,136 Mil.
Revenue was ₹4,609 Mil.
Gross Profit was ₹2,801 Mil.
Total Current Assets was ₹4,649 Mil.
Total Assets was ₹8,203 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,281 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹118 Mil.
Selling, General, & Admin. Expense(SGA) was ₹431 Mil.
Total Current Liabilities was ₹958 Mil.
Long-Term Debt & Capital Lease Obligation was ₹55 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) |
| = | (1123.68 / 5703.7) | / | (1136.37 / 4609.38) |
| = | 0.197009 | / | 0.246534 |
| | = | 0.7991 |
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) |
| = | (2801.26 / 4609.38) | / | (3486.29 / 5703.7) |
| = | 0.60773 | / | 0.611233 |
| | = | 0.9943 |
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 - (3978.04 + 4573.01) / 9212.38) | / | (1 - (4648.87 + 3280.58) / 8202.77) |
| = | 0.071787 | / | 0.03332 |
| | = | 2.1545 |
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 |
| = | 5703.7 | / | 4609.38 |
| | = | 1.2374 |
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)) |
| = | (118.15 / (118.15 + 3280.58)) | / | (158.11 / (158.11 + 4573.01)) |
| = | 0.034763 | / | 0.033419 |
| | = | 1.0402 |
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 / 5703.7) | / | (430.93 / 4609.38) |
| = | 0 | / | 0.09349 |
| | = | 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) |
| = | ((50.2 + 768.94) / 9212.38) | / | ((54.89 + 957.8) / 8202.77) |
| = | 0.088917 | / | 0.123457 |
| | = | 0.7202 |
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 |
| = | (1191.14 - 0 | - | 1133.07) | / | 9212.38 |
| | = | 0.006303 |
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.
Supriya Lifescience has a M-score of -1.69 signals that the company is likely to be a manipulator.
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