Meghmani Organics Beneish M-Score Historical Data
The historical data trend for Meghmani Organics'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.
Meghmani Organics Beneish M-Score Chart
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Meghmani Organics Annual Data
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Mar19 |
Mar20 |
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Mar24 |
| Beneish M-Score |
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- |
-2.36 |
-1.94 |
-2.46 |
-2.98 |
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Meghmani Organics Quarterly Data
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| Beneish M-Score |
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Competitive Comparison of Meghmani Organics's Beneish M-Score
For the Agricultural Inputs subindustry, Meghmani Organics'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.
Meghmani Organics's Beneish M-Score Distribution in the Agriculture Industry
For the Agriculture industry and Basic Materials sector, Meghmani Organics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Meghmani Organics's Beneish M-Score falls into.
Meghmani Organics 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 Meghmani Organics 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 * 1.3679 | + | 0.528 * 1.2833 | + | 0.404 * 0.7925 | + | 0.892 * 0.6126 | + | 0.115 * 0.9222 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8808 | + | 4.679 * -0.117003 | - | 0.327 * 1.0565 |
| = | -2.98 |
* 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 ₹4,947 Mil.
Revenue was ₹15,485 Mil.
Gross Profit was ₹4,438 Mil.
Total Current Assets was ₹12,131 Mil.
Total Assets was ₹30,401 Mil.
Property, Plant and Equipment(Net PPE) was ₹16,589 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹922 Mil.
Selling, General, & Admin. Expense(SGA) was ₹493 Mil.
Total Current Liabilities was ₹10,563 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,833 Mil.
Net Income was ₹-1,060 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹2,497 Mil.
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Total Receivables was ₹5,904 Mil.
Revenue was ₹25,276 Mil.
Gross Profit was ₹9,297 Mil.
Total Current Assets was ₹14,657 Mil.
Total Assets was ₹31,984 Mil.
Property, Plant and Equipment(Net PPE) was ₹15,097 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹771 Mil.
Selling, General, & Admin. Expense(SGA) was ₹913 Mil.
Total Current Liabilities was ₹10,300 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4,034 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) |
| = | (4947.476 / 15484.534) | / | (5903.815 / 25275.784) |
| = | 0.319511 | / | 0.233576 |
| | = | 1.3679 |
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) |
| = | (9296.766 / 25275.784) | / | (4438.141 / 15484.534) |
| = | 0.367813 | / | 0.286618 |
| | = | 1.2833 |
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 - (12131.409 + 16589.451) / 30401.408) | / | (1 - (14656.68 + 15096.8) / 31984.428) |
| = | 0.055279 | / | 0.069751 |
| | = | 0.7925 |
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 |
| = | 15484.534 | / | 25275.784 |
| | = | 0.6126 |
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)) |
| = | (770.635 / (770.635 + 15096.8)) | / | (922.239 / (922.239 + 16589.451)) |
| = | 0.048567 | / | 0.052664 |
| | = | 0.9222 |
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) |
| = | (492.839 / 15484.534) | / | (913.38 / 25275.784) |
| = | 0.031828 | / | 0.036137 |
| | = | 0.8808 |
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) |
| = | ((3832.786 + 10562.528) / 30401.408) | / | ((4034.189 + 10300.345) / 31984.428) |
| = | 0.473508 | / | 0.448172 |
| | = | 1.0565 |
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 |
| = | (-1060.26 - 0 | - | 2496.81) | / | 30401.408 |
| | = | -0.117003 |
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.
Meghmani Organics has a M-score of -2.98 suggests that the company is unlikely to be a manipulator.
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