Univastu India Beneish M-Score Historical Data
The historical data trend for Univastu India'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.
Univastu India Beneish M-Score Chart
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Univastu India Annual Data
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Trend |
Mar16 |
Mar17 |
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Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
Mar25 |
| Beneish M-Score |
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-0.78 |
-2.45 |
-1.95 |
-2.65 |
-1.68 |
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Univastu India Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
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Mar24 |
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Mar25 |
| Beneish M-Score |
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-2.65 |
0.00 |
0.00 |
0.00 |
-1.68 |
NSE:UNIVASTU vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Univastu India'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.
Univastu India Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Univastu India's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Univastu India's Beneish M-Score falls into.
Univastu India 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 Univastu India 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 * 0.8787 | + | 0.528 * 1.0626 | + | 0.404 * 1.074 | + | 0.892 * 1.4192 | + | 0.115 * 1.3027 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8768 | + | 4.679 * 0.081257 | - | 0.327 * 0.871 |
| = | -1.68 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was ₹1,117 Mil.
Revenue was ₹1,712 Mil.
Gross Profit was ₹497 Mil.
Total Current Assets was ₹1,428 Mil.
Total Assets was ₹1,876 Mil.
Property, Plant and Equipment(Net PPE) was ₹134 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹14 Mil.
Selling, General, & Admin. Expense(SGA) was ₹47 Mil.
Total Current Liabilities was ₹827 Mil.
Long-Term Debt & Capital Lease Obligation was ₹53 Mil.
Net Income was ₹105 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-48 Mil.
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Total Receivables was ₹896 Mil.
Revenue was ₹1,206 Mil.
Gross Profit was ₹372 Mil.
Total Current Assets was ₹1,080 Mil.
Total Assets was ₹1,386 Mil.
Property, Plant and Equipment(Net PPE) was ₹90 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹12 Mil.
Selling, General, & Admin. Expense(SGA) was ₹37 Mil.
Total Current Liabilities was ₹725 Mil.
Long-Term Debt & Capital Lease Obligation was ₹21 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) |
| = | (1116.858 / 1711.778) | / | (895.607 / 1206.141) |
| = | 0.652455 | / | 0.742539 |
| | = | 0.8787 |
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) |
| = | (371.867 / 1206.141) | / | (496.678 / 1711.778) |
| = | 0.308311 | / | 0.290153 |
| | = | 1.0626 |
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 - (1428.373 + 134.069) / 1876.451) | / | (1 - (1080.167 + 90.141) / 1386.314) |
| = | 0.167342 | / | 0.155813 |
| | = | 1.074 |
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 |
| = | 1711.778 | / | 1206.141 |
| | = | 1.4192 |
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)) |
| = | (12.453 / (12.453 + 90.141)) | / | (13.775 / (13.775 + 134.069)) |
| = | 0.121381 | / | 0.093173 |
| | = | 1.3027 |
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) |
| = | (46.636 / 1711.778) | / | (37.478 / 1206.141) |
| = | 0.027244 | / | 0.031073 |
| | = | 0.8768 |
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) |
| = | ((52.883 + 826.675) / 1876.451) | / | ((20.726 + 725.356) / 1386.314) |
| = | 0.468735 | / | 0.538177 |
| | = | 0.871 |
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 |
| = | (104.684 - 0 | - | -47.791) | / | 1876.451 |
| | = | 0.081257 |
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.
Univastu India has a M-score of -1.68 signals that the company is likely to be a manipulator.
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