R R Kabel Beneish M-Score Historical Data
The historical data trend for R R Kabel'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.
R R Kabel Beneish M-Score Chart
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R R Kabel Annual Data
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Trend |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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- |
- |
- |
- |
-1.73 |
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R R Kabel Quarterly Data
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Mar20 |
Mar21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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- |
- |
- |
-1.73 |
-1.50 |
Competitive Comparison of R R Kabel's Beneish M-Score
For the Electrical Equipment & Parts subindustry, R R Kabel'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.
R R Kabel's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, R R Kabel's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where R R Kabel's Beneish M-Score falls into.
R R Kabel 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 R R Kabel 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 * 0.9499 | + | 0.528 * 1.0138 | + | 0.404 * 1.2267 | + | 0.892 * 1.1407 | + | 0.115 * 1.1549 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * 0.115875 | - | 0.327 * 0.7781 |
| = | -1.50 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was ₹6,427 Mil.
Revenue was 18081.102 + 16771.171 + 16335.194 + 16096.705 = ₹67,284 Mil.
Gross Profit was 3138.98 + 2381.236 + 3116.223 + 3195.446 = ₹11,832 Mil.
Total Current Assets was ₹19,953 Mil.
Total Assets was ₹28,693 Mil.
Property, Plant and Equipment(Net PPE) was ₹6,959 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹656 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹9,422 Mil.
Long-Term Debt & Capital Lease Obligation was ₹606 Mil.
Net Income was 643.787 + 787.244 + 709.584 + 740.989 = ₹2,882 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₹0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + -443.195 = ₹-443 Mil.
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Total Receivables was ₹5,931 Mil.
Revenue was 15973.135 + 14542.098 + 14795.337 + 13672.372 = ₹58,983 Mil.
Gross Profit was 2917.827 + 2223.998 + 2990.779 + 2382.535 = ₹10,515 Mil.
Total Current Assets was ₹19,461 Mil.
Total Assets was ₹26,336 Mil.
Property, Plant and Equipment(Net PPE) was ₹5,542 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹612 Mil.
Selling, General, & Admin. Expense(SGA) was ₹963 Mil.
Total Current Liabilities was ₹10,996 Mil.
Long-Term Debt & Capital Lease Obligation was ₹833 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) |
| = | (6427.482 / 67284.172) | / | (5931.376 / 58982.942) |
| = | 0.095527 | / | 0.100561 |
| | = | 0.9499 |
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) |
| = | (10515.139 / 58982.942) | / | (11831.885 / 67284.172) |
| = | 0.178274 | / | 0.175849 |
| | = | 1.0138 |
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 - (19953.332 + 6958.809) / 28692.97) | / | (1 - (19461.145 + 5542.495) / 26336.164) |
| = | 0.062065 | / | 0.050597 |
| | = | 1.2267 |
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 |
| = | 67284.172 | / | 58982.942 |
| | = | 1.1407 |
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)) |
| = | (612.332 / (612.332 + 5542.495)) | / | (655.978 / (655.978 + 6958.809)) |
| = | 0.099488 | / | 0.086145 |
| | = | 1.1549 |
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 / 67284.172) | / | (962.8 / 58982.942) |
| = | 0 | / | 0.016323 |
| | = | 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) |
| = | ((605.839 + 9421.765) / 28692.97) | / | ((832.64 + 10995.758) / 26336.164) |
| = | 0.349479 | / | 0.449131 |
| | = | 0.7781 |
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 |
| = | (2881.604 - 0 | - | -443.195) | / | 28692.97 |
| | = | 0.115875 |
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.
R R Kabel has a M-score of -1.50 signals that the company is likely to be a manipulator.
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