Winsome Yarns Beneish M-Score Historical Data
The historical data trend for Winsome Yarns'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.
Winsome Yarns Beneish M-Score Chart
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Winsome Yarns Annual Data
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Trend |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
Mar25 |
| Beneish M-Score |
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-2.10 |
-3.06 |
-2.19 |
-3.73 |
-2.11 |
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Winsome Yarns Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Dec21 |
Mar22 |
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Sep22 |
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Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-3.73 |
0.00 |
0.00 |
0.00 |
-2.11 |
Winsome Yarns Beneish M-Score Competitor Comparison
For the Textile Manufacturing subindustry, Winsome Yarns'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.
Winsome Yarns Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Winsome Yarns's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Winsome Yarns's Beneish M-Score falls into.
Winsome Yarns 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 Winsome Yarns 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 * 2.4435 | + | 0.528 * 2.6674 | + | 0.404 * 0.9663 | + | 0.892 * 0.1757 | + | 0.115 * 1.0776 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.5876 | + | 4.679 * -0.175244 | - | 0.327 * 1.0051 |
| = | -2.11 |
* 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 ₹10.06 Mil.
Revenue was ₹41.81 Mil.
Gross Profit was ₹8.10 Mil.
Total Current Assets was ₹525.69 Mil.
Total Assets was ₹2,057.29 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,261.39 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹98.59 Mil.
Selling, General, & Admin. Expense(SGA) was ₹17.50 Mil.
Total Current Liabilities was ₹6,400.01 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-172.97 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹187.56 Mil.
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Total Receivables was ₹23.42 Mil.
Revenue was ₹237.92 Mil.
Gross Profit was ₹122.98 Mil.
Total Current Assets was ₹361.32 Mil.
Total Assets was ₹1,991.50 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,359.50 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹115.20 Mil.
Selling, General, & Admin. Expense(SGA) was ₹38.48 Mil.
Total Current Liabilities was ₹6,163.68 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 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) |
| = | (10.058 / 41.808) | / | (23.424 / 237.919) |
| = | 0.240576 | / | 0.098454 |
| | = | 2.4435 |
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) |
| = | (122.984 / 237.919) | / | (8.102 / 41.808) |
| = | 0.516915 | / | 0.193791 |
| | = | 2.6674 |
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 - (525.69 + 1261.386) / 2057.29) | / | (1 - (361.316 + 1359.497) / 1991.5) |
| = | 0.131345 | / | 0.135921 |
| | = | 0.9663 |
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 |
| = | 41.808 | / | 237.919 |
| | = | 0.1757 |
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)) |
| = | (115.199 / (115.199 + 1359.497)) | / | (98.585 / (98.585 + 1261.386)) |
| = | 0.078117 | / | 0.072491 |
| | = | 1.0776 |
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) |
| = | (17.497 / 41.808) | / | (38.48 / 237.919) |
| = | 0.418508 | / | 0.161736 |
| | = | 2.5876 |
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) |
| = | ((0 + 6400.013) / 2057.29) | / | ((0 + 6163.681) / 1991.5) |
| = | 3.110895 | / | 3.094994 |
| | = | 1.0051 |
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 |
| = | (-172.969 - 0 | - | 187.558) | / | 2057.29 |
| | = | -0.175244 |
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.
Winsome Yarns has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.
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