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Mukat Pipes (BOM:523832) Piotroski F-Score : 7 (As of Jun. 05, 2024)


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What is Mukat Pipes Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Mukat Pipes has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Mukat Pipes's Piotroski F-Score or its related term are showing as below:

BOM:523832' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Mukat Pipes was 7. The lowest was 4. And the median was 5.


Mukat Pipes Piotroski F-Score Historical Data

The historical data trend for Mukat Pipes's Piotroski F-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.

Mukat Pipes Piotroski F-Score Chart

Mukat Pipes Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 4.00 5.00 7.00

Mukat Pipes Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-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 5.00 - - - 7.00

Competitive Comparison of Mukat Pipes's Piotroski F-Score

For the Steel subindustry, Mukat Pipes's Piotroski F-Score, along with its competitors' market caps and Piotroski F-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.


Mukat Pipes's Piotroski F-Score Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Mukat Pipes's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Mukat Pipes's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹2.97 Mil.
Cash Flow from Operations was ₹13.21 Mil.
Revenue was ₹62.97 Mil.
Gross Profit was ₹24.66 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (44.429 + 51.978) / 2 = ₹48.2035 Mil.
Total Assets at the begining of this year (Mar23) was ₹44.43 Mil.
Long-Term Debt & Capital Lease Obligation was ₹35.52 Mil.
Total Current Assets was ₹26.09 Mil.
Total Current Liabilities was ₹21.52 Mil.
Net Income was ₹-1.25 Mil.

Revenue was ₹33.08 Mil.
Gross Profit was ₹19.00 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (40.979 + 44.429) / 2 = ₹42.704 Mil.
Total Assets at the begining of last year (Mar22) was ₹40.98 Mil.
Long-Term Debt & Capital Lease Obligation was ₹35.73 Mil.
Total Current Assets was ₹14.43 Mil.
Total Current Liabilities was ₹17.29 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Mukat Pipes's current Net Income (TTM) was 2.97. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Mukat Pipes's current Cash Flow from Operations (TTM) was 13.21. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=2.97/44.429
=0.06684823

ROA (Last Year)=Net Income/Total Assets (Mar22)
=-1.249/40.979
=-0.03047903

Mukat Pipes's return on assets of this year was 0.06684823. Mukat Pipes's return on assets of last year was -0.03047903. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Mukat Pipes's current Net Income (TTM) was 2.97. Mukat Pipes's current Cash Flow from Operations (TTM) was 13.21. ==> 13.21 > 2.97 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=35.524/48.2035
=0.73695893

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=35.729/42.704
=0.83666635

Mukat Pipes's gearing of this year was 0.73695893. Mukat Pipes's gearing of last year was 0.83666635. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=26.093/21.523
=1.21233099

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=14.43/17.285
=0.83482789

Mukat Pipes's current ratio of this year was 1.21233099. Mukat Pipes's current ratio of last year was 0.83482789. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Mukat Pipes's number of shares in issue this year was 11.88. Mukat Pipes's number of shares in issue last year was 11.355. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=24.659/62.97
=0.39159917

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=18.999/33.079
=0.57435231

Mukat Pipes's gross margin of this year was 0.39159917. Mukat Pipes's gross margin of last year was 0.57435231. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=62.97/44.429
=1.41731752

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=33.079/40.979
=0.80721833

Mukat Pipes's asset turnover of this year was 1.41731752. Mukat Pipes's asset turnover of last year was 0.80721833. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Mukat Pipes has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Mukat Pipes  (BOM:523832) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Mukat Pipes Piotroski F-Score Related Terms

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Mukat Pipes (BOM:523832) Business Description

Traded in Other Exchanges
N/A
Address
J.P. Road, Versova, Flat Number 39, Parag Apartments, 7th Floor, Andheri (West), Mumbai, MH, IND, 400061
Mukat Pipes Ltd is an India-based company that operates in the business of pipes. The company is involved in the manufacturing of Longitudinal and helical pipes. The product offered by the company includes MS shells for Infrastructure, Longitudinal Submerged Arc Welded (SAW) pipes; Spiral SAW pipes; Site pipe fabrication, and Penstock pipes. Geographically, the group operates in India.

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