Singer Sri Lanka (COL:SINS.N0000) Beneish M-Score : -1.49 (As of Apr. 12, 2025)

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What is Singer Sri Lanka 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.

Warning Sign:

Beneish M-Score -1.49 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Singer Sri Lanka's Beneish M-Score or its related term are showing as below:

COL:SINS.N0000' s Beneish M-Score Range Over the Past 10 Years
Min: -3.2 Med: -1.99 Max: -1.3
Current: -1.49

During the past 13 years, the highest Beneish M-Score of Singer Sri Lanka was -1.30. The lowest was -3.20. And the median was -1.99.

Singer Sri Lanka Beneish M-Score Historical Data

The historical data trend for Singer Sri Lanka'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.

* Premium members only.

Singer Sri Lanka Beneish M-Score Chart

Singer Sri Lanka Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

Get a 7-Day Free Trial

-2.59

-2.93

-1.44

-2.86

-1.64

Singer Sri Lanka Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.21	-1.64	-1.37	-1.30	-1.49

Competitive Comparison of Singer Sri Lanka's Beneish M-Score

For the Specialty Retail subindustry, Singer Sri Lanka'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.

Singer Sri Lanka's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Singer Sri Lanka's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Singer Sri Lanka's Beneish M-Score falls into.

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Singer Sri Lanka 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 Singer Sri Lanka 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 * 1.0579

0.528 * 0.7742

0.404 * 1.26

0.892 * 1.2008

0.115 * 0.992

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0653

4.679 * 0.166727

0.327 * 0.9771

-1.49

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was රු46,396 Mil.
Revenue was 24881.268 + 20096.86 + 19123.796 + 16147.24 = රු80,249 Mil.
Gross Profit was 7946.771 + 6314.143 + 6185.005 + 4861.337 = රු25,307 Mil.
Total Current Assets was රු74,325 Mil.
Total Assets was රු104,355 Mil.
Property, Plant and Equipment(Net PPE) was රු12,923 Mil.
Depreciation, Depletion and Amortization(DDA) was රු2,024 Mil.
Selling, General, & Admin. Expense(SGA) was රු18,197 Mil.
Total Current Liabilities was රු62,319 Mil.
Long-Term Debt & Capital Lease Obligation was රු18,269 Mil.
Net Income was 1375.019 + 718.996 + 567.682 + 361.737 = රු3,023 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = රු0 Mil.
Cash Flow from Operations was -4842.064 + -2991.85 + 273.222 + -6814.6 = රු-14,375 Mil.

Total Receivables was රු36,522 Mil.
Revenue was 26766.959 + 14064.258 + 12994.985 + 13001.027 = රු66,827 Mil.
Gross Profit was 6593.535 + 3164.961 + 3279.101 + 3278.579 = රු16,316 Mil.
Total Current Assets was රු64,611 Mil.
Total Assets was රු87,879 Mil.
Property, Plant and Equipment(Net PPE) was රු11,835 Mil.
Depreciation, Depletion and Amortization(DDA) was රු1,836 Mil.
Selling, General, & Admin. Expense(SGA) was රු14,226 Mil.
Total Current Liabilities was රු55,954 Mil.
Long-Term Debt & Capital Lease Obligation was රු13,499 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)
	=	(46396.417 / 80249.164)	/	(36521.636 / 66827.229)
	=	0.578155	/	0.546508
	=	1.0579

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)
	=	(16316.176 / 66827.229)	/	(25307.256 / 80249.164)
	=	0.244155	/	0.315359
	=	0.7742

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 - (74325.23 + 12922.864) / 104354.524)	/	(1 - (64610.659 + 11835.498) / 87879.297)
	=	0.163926	/	0.1301
	=	1.26

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
	=	80249.164	/	66827.229
	=	1.2008

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))
	=	(1836.373 / (1836.373 + 11835.498))	/	(2023.731 / (2023.731 + 12922.864))
	=	0.134318	/	0.135397
	=	0.992

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)
	=	(18197.306 / 80249.164)	/	(14225.513 / 66827.229)
	=	0.22676	/	0.21287
	=	1.0653

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)
	=	((18269.076 + 62318.936) / 104354.524)	/	((13499.405 + 55954.094) / 87879.297)
	=	0.772252	/	0.790328
	=	0.9771

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
	=	(3023.434 - 0	-	-14375.292)	/	104354.524
	=	0.166727

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.

Singer Sri Lanka has a M-score of -1.49 signals that the company is likely to be a manipulator.

Singer Sri Lanka Beneish M-Score Related Terms

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Singer Sri Lanka Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Singer Sri Lanka PLC (COL:SINS.N0000) » Definitions » Beneish M-Score

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Address

No. 112, Havelock Road, Colombo, LKA, 05

Website

https://www.singer.lk

Singer Sri Lanka PLC is a Sri Lanka-based appliance retailer. It is engaged in the marketing of household electrical products. It operates in seven segments including Consumer Electronics which offers televisions, audio, and other electronic products. The Financial Services segment offers leasing, hire purchase, and loans. The furniture segment offers wood and layered furniture, sofa sets, steel furniture, and mattresses. Home Appliances offers refrigerators, washing machines, and deep freezers. Digital Products include laptops and smartphones. The sewing segment offers domestic and industrial sewing machines and general merchandise Other segment offers motorbikes, bicycles, water pumps, paddy threshers, and tractors. The company generates maximum revenue from the Home Appliances segment.

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