S K S Textiles Beneish M-Score Historical Data
The historical data trend for S K S Textiles'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.
S K S Textiles Beneish M-Score Chart
|
S K S Textiles Annual Data
|
|
Trend |
Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
-2.01 |
-2.26 |
-2.23 |
-2.57 |
203.55 |
|
S K S Textiles Semi-Annual Data
|
|
Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Sep17 |
Mar18 |
Sep18 |
Mar19 |
Mar20 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
- |
-2.23 |
- |
-2.57 |
203.55 |
Competitive Comparison of S K S Textiles's Beneish M-Score
For the Textile Manufacturing subindustry, S K S Textiles'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.
S K S Textiles's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, S K S Textiles's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where S K S Textiles's Beneish M-Score falls into.
S K S Textiles 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 S K S Textiles 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 * 1.2055 | + | 0.528 * 390.902 | + | 0.404 * 0.6487 | + | 0.892 * 1.0806 | + | 0.115 * 0.9016 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9082 | + | 4.679 * -0.079433 | - | 0.327 * 1.209 |
| = | 203.07 |
* 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 (Mar20) TTM: | Last Year (Mar19) TTM: |
Total Receivables was ₹464 Mil.
Revenue was ₹1,877 Mil.
Gross Profit was ₹0 Mil.
Total Current Assets was ₹1,086 Mil.
Total Assets was ₹1,221 Mil.
Property, Plant and Equipment(Net PPE) was ₹132 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹17 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2 Mil.
Total Current Liabilities was ₹865 Mil.
Long-Term Debt & Capital Lease Obligation was ₹37 Mil.
Net Income was ₹-107 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-10 Mil.
|
Total Receivables was ₹356 Mil.
Revenue was ₹1,737 Mil.
Gross Profit was ₹139 Mil.
Total Current Assets was ₹946 Mil.
Total Assets was ₹1,103 Mil.
Property, Plant and Equipment(Net PPE) was ₹152 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹17 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2 Mil.
Total Current Liabilities was ₹659 Mil.
Long-Term Debt & Capital Lease Obligation was ₹15 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) |
| = | (464.146 / 1876.889) | / | (356.292 / 1736.881) |
| = | 0.247295 | / | 0.205133 |
| | = | 1.2055 |
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) |
| = | (138.505 / 1736.881) | / | (0.382 / 1876.889) |
| = | 0.079744 | / | 0.000204 |
| | = | 390.902 |
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 - (1085.908 + 132.257) / 1221.354) | / | (1 - (946.493 + 152.272) / 1103.205) |
| = | 0.002611 | / | 0.004025 |
| | = | 0.6487 |
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 |
| = | 1876.889 | / | 1736.881 |
| | = | 1.0806 |
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)) |
| = | (17.108 / (17.108 + 152.272)) | / | (16.686 / (16.686 + 132.257)) |
| = | 0.101004 | / | 0.112029 |
| | = | 0.9016 |
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) |
| = | (2.154 / 1876.889) | / | (2.195 / 1736.881) |
| = | 0.001148 | / | 0.001264 |
| | = | 0.9082 |
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) |
| = | ((37.003 + 865.483) / 1221.354) | / | ((15.418 + 658.846) / 1103.205) |
| = | 0.738923 | / | 0.611186 |
| | = | 1.209 |
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 |
| = | (-107.26 - 0 | - | -10.244) | / | 1221.354 |
| | = | -0.079433 |
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.
S K S Textiles has a M-score of 203.07 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NSE:SKSTEXTILE has been successfully added to your