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Upper Tamakoshi Hydropower (XNEP:UPPER) Beneish M-Score : 0.00 (As of Dec. 14, 2024)


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What is Upper Tamakoshi Hydropower 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 Upper Tamakoshi Hydropower's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Upper Tamakoshi Hydropower was 0.00. The lowest was 0.00. And the median was 0.00.


Upper Tamakoshi Hydropower Beneish M-Score Historical Data

The historical data trend for Upper Tamakoshi Hydropower'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.

Upper Tamakoshi Hydropower Beneish M-Score Chart

Upper Tamakoshi Hydropower Annual Data
Trend Jul18 Jul19 Jul20 Jul21 Jul22
Beneish M-Score
- - - - -

Upper Tamakoshi Hydropower Quarterly Data
Jan19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Oct23 Jan24 Apr24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison of Upper Tamakoshi Hydropower's Beneish M-Score

For the Utilities - Renewable subindustry, Upper Tamakoshi Hydropower'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.


Upper Tamakoshi Hydropower's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Upper Tamakoshi Hydropower's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Upper Tamakoshi Hydropower's Beneish M-Score falls into.



Upper Tamakoshi Hydropower 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 Upper Tamakoshi Hydropower 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Jul22) TTM:Last Year (Jul21) TTM:
Total Receivables was NPR2,431 Mil.
Revenue was NPR7,117 Mil.
Gross Profit was NPR6,929 Mil.
Total Current Assets was NPR3,253 Mil.
Total Assets was NPR89,833 Mil.
Property, Plant and Equipment(Net PPE) was NPR86,580 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR2,994 Mil.
Selling, General, & Admin. Expense(SGA) was NPR246 Mil.
Total Current Liabilities was NPR8,552 Mil.
Long-Term Debt & Capital Lease Obligation was NPR73,786 Mil.
Net Income was NPR-2,315 Mil.
Gross Profit was NPR0 Mil.
Cash Flow from Operations was NPR422 Mil.
Total Receivables was NPR5 Mil.
Revenue was NPR0 Mil.
Gross Profit was NPR0 Mil.
Total Current Assets was NPR1,958 Mil.
Total Assets was NPR87,976 Mil.
Property, Plant and Equipment(Net PPE) was NPR85,470 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR2 Mil.
Selling, General, & Admin. Expense(SGA) was NPR28 Mil.
Total Current Liabilities was NPR6,414 Mil.
Long-Term Debt & Capital Lease Obligation was NPR70,757 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)
=(2430.544 / 7116.784) / (5.225 / 0)
=0.341523 /
=

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 / 0) / (6928.849 / 7116.784)
= / 0.973593
=

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 - (3253.035 + 86580.071) / 89833.107) / (1 - (1957.845 + 85470.177) / 87975.597)
=0 / 0.006224
=

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
=7116.784 / 0
=

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))
=(2.48 / (2.48 + 85470.177)) / (2993.919 / (2993.919 + 86580.071))
=2.9E-5 / 0.033424
=

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)
=(246.347 / 7116.784) / (28.468 / 0)
=0.034615 /
=

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)
=((73785.764 + 8552.443) / 89833.107) / ((70757.013 + 6414.279) / 87975.597)
=0.916569 / 0.87719
=

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
=(-2314.946 - 0 - 422.326) / 89833.107
=-0.030471

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.


Upper Tamakoshi Hydropower Beneish M-Score Related Terms

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Upper Tamakoshi Hydropower Business Description

Traded in Other Exchanges
N/A
Address
Annapurna Marg, Gyaneswor, Kathmandu, NPL, 44600
Upper Tamakoshi Hydropower Ltd is engaged in the development and implementation of the hydro power project. It is involved in the business segment of Generation and sale of electricity.

Upper Tamakoshi Hydropower Headlines

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