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TGRHF (Tirupati Graphite) Beneish M-Score : 0.00 (As of Mar. 04, 2025)


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What is Tirupati Graphite Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Tirupati Graphite's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Tirupati Graphite was 0.00. The lowest was 0.00. And the median was 0.00.


Tirupati Graphite Beneish M-Score Historical Data

The historical data trend for Tirupati Graphite'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.

* Premium members only.

Tirupati Graphite Beneish M-Score Chart

Tirupati Graphite Annual Data
Trend Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Beneish M-Score
Get a 7-Day Free Trial - 0.42 -1.31 12.43 -2.93

Tirupati Graphite Semi-Annual Data
Mar19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only - 12.43 - -2.93 -

Competitive Comparison of Tirupati Graphite's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Tirupati Graphite'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.


Tirupati Graphite's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Tirupati Graphite's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tirupati Graphite's Beneish M-Score falls into.



Tirupati Graphite 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 Tirupati Graphite 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 * 0.6781+0.528 * 0.1319+0.404 * 1.0662+0.892 * 1.6184+0.115 * 0.6229
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7477+4.679 * -0.009308-0.327 * 2.0811
=-3.05

* 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 (Mar23) TTM:Last Year (Mar22) TTM:
Total Receivables was $0.92 Mil.
Revenue was $3.51 Mil.
Gross Profit was $0.41 Mil.
Total Current Assets was $7.81 Mil.
Total Assets was $25.89 Mil.
Property, Plant and Equipment(Net PPE) was $17.96 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.54 Mil.
Selling, General, & Admin. Expense(SGA) was $2.96 Mil.
Total Current Liabilities was $3.15 Mil.
Long-Term Debt & Capital Lease Obligation was $2.30 Mil.
Net Income was $-2.87 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-2.63 Mil.
Total Receivables was $0.84 Mil.
Revenue was $2.17 Mil.
Gross Profit was $0.03 Mil.
Total Current Assets was $8.58 Mil.
Total Assets was $23.08 Mil.
Property, Plant and Equipment(Net PPE) was $14.40 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.74 Mil.
Selling, General, & Admin. Expense(SGA) was $2.45 Mil.
Total Current Liabilities was $1.67 Mil.
Long-Term Debt & Capital Lease Obligation was $0.66 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)
=(0.924 / 3.507) / (0.842 / 2.167)
=0.263473 / 0.388556
=0.6781

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)
=(0.033 / 2.167) / (0.405 / 3.507)
=0.015228 / 0.115483
=0.1319

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 - (7.806 + 17.959) / 25.893) / (1 - (8.576 + 14.397) / 23.08)
=0.004943 / 0.004636
=1.0662

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
=3.507 / 2.167
=1.6184

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))
=(0.744 / (0.744 + 14.397)) / (1.538 / (1.538 + 17.959))
=0.049138 / 0.078884
=0.6229

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)
=(2.961 / 3.507) / (2.447 / 2.167)
=0.844311 / 1.129211
=0.7477

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)
=((2.299 + 3.148) / 25.893) / ((0.664 + 1.669) / 23.08)
=0.210366 / 0.101083
=2.0811

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
=(-2.874 - 0 - -2.633) / 25.893
=-0.009308

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.

Tirupati Graphite has a M-score of -3.05 suggests that the company is unlikely to be a manipulator.


Tirupati Graphite Beneish M-Score Related Terms

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Tirupati Graphite Business Description

Traded in Other Exchanges
N/A
Address
118 Piccadilly, London, GBR, W1J 7NW
Tirupati Graphite PLC is developing its business as a specialist flake graphite company and developing materials, which contributes to the green economy being critical to the energy transition goal. It operates in three primary business segments: Holding Companies Expenses, Mining Exploration and Development and Graphite Mining Extraction. The products and uses for which it is employed include lithiumion batteries, fuel cells, two-dimensional graphene, water purification, electronics, fibre optics, spintronics, refractories, electrical products, electric vehicles, flame retardants, solid-state high-temperature lubricant, conductive polymers and friction materials. The company is focused on developing the Vatomina Project and the Sahamamy Project.

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