India Glycols Beneish M-Score Historical Data
The historical data trend for India Glycols'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.
India Glycols Beneish M-Score Chart
|
India Glycols Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.57 |
-2.05 |
-2.88 |
-0.56 |
-2.90 |
|
India Glycols Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-2.90 |
- |
- |
- |
Competitive Comparison of India Glycols's Beneish M-Score
For the Chemicals subindustry, India Glycols'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.
India Glycols's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, India Glycols's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where India Glycols's Beneish M-Score falls into.
India Glycols 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 India Glycols 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 * 1.0305 | + | 0.528 * 0.8188 | + | 0.404 * 0.7678 | + | 0.892 * 0.916 | + | 0.115 * 0.9499 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8657 | + | 4.679 * -0.041295 | - | 0.327 * 1.0142 |
| = | -2.90 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was ₹6,057 Mil.
Revenue was ₹25,770 Mil.
Gross Profit was ₹9,455 Mil.
Total Current Assets was ₹16,462 Mil.
Total Assets was ₹48,583 Mil.
Property, Plant and Equipment(Net PPE) was ₹28,321 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹940 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,129 Mil.
Total Current Liabilities was ₹18,649 Mil.
Long-Term Debt & Capital Lease Obligation was ₹5,651 Mil.
Net Income was ₹1,251 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹3,257 Mil.
|
Total Receivables was ₹6,416 Mil.
Revenue was ₹28,133 Mil.
Gross Profit was ₹8,451 Mil.
Total Current Assets was ₹16,072 Mil.
Total Assets was ₹46,307 Mil.
Property, Plant and Equipment(Net PPE) was ₹25,518 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹803 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,424 Mil.
Total Current Liabilities was ₹17,487 Mil.
Long-Term Debt & Capital Lease Obligation was ₹5,351 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) |
| = | (6056.532 / 25770.184) | / | (6416.219 / 28132.772) |
| = | 0.235021 | / | 0.228069 |
| | = | 1.0305 |
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) |
| = | (8451.264 / 28132.772) | / | (9455.271 / 25770.184) |
| = | 0.300406 | / | 0.366907 |
| | = | 0.8188 |
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 - (16462.383 + 28321.192) / 48583.331) | / | (1 - (16072.102 + 25517.539) / 46306.684) |
| = | 0.078211 | / | 0.101865 |
| | = | 0.7678 |
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 |
| = | 25770.184 | / | 28132.772 |
| | = | 0.916 |
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)) |
| = | (802.883 / (802.883 + 25517.539)) | / | (939.614 / (939.614 + 28321.192)) |
| = | 0.030504 | / | 0.032112 |
| | = | 0.9499 |
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) |
| = | (1129.172 / 25770.184) | / | (1423.915 / 28132.772) |
| = | 0.043817 | / | 0.050614 |
| | = | 0.8657 |
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) |
| = | ((5651.415 + 18649.251) / 48583.331) | / | ((5350.769 + 17487.208) / 46306.684) |
| = | 0.500185 | / | 0.49319 |
| | = | 1.0142 |
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 |
| = | (1250.844 - 0 | - | 3257.114) | / | 48583.331 |
| | = | -0.041295 |
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.
India Glycols has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NSE:INDIAGLYCO has been successfully added to your