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Zodiac Clothing Co (BOM:521163) Piotroski F-Score : 6 (As of May. 25, 2024)


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What is Zodiac Clothing Co Piotroski F-Score?

The zones of discrimination were as such:

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

Zodiac Clothing Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

BOM:521163' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of Zodiac Clothing Co was 7. The lowest was 1. And the median was 4.


Zodiac Clothing Co Piotroski F-Score Historical Data

The historical data trend for Zodiac Clothing Co'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.

Zodiac Clothing Co Piotroski F-Score Chart

Zodiac Clothing Co Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.00 2.00 4.00 4.00 6.00

Zodiac Clothing Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 - 6.00 - - -

Competitive Comparison of Zodiac Clothing Co's Piotroski F-Score

For the Apparel Manufacturing subindustry, Zodiac Clothing Co'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.


Zodiac Clothing Co's Piotroski F-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Zodiac Clothing Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Zodiac Clothing Co'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 (Mar23) TTM:Last Year (Mar22) TTM:
Net Income was ₹160 Mil.
Cash Flow from Operations was ₹12 Mil.
Revenue was ₹1,691 Mil.
Gross Profit was ₹882 Mil.
Average Total Assets from the begining of this year (Mar22)
to the end of this year (Mar23) was (3628.5 + 3808.898) / 2 = ₹3718.699 Mil.
Total Assets at the begining of this year (Mar22) was ₹3,629 Mil.
Long-Term Debt & Capital Lease Obligation was ₹202 Mil.
Total Current Assets was ₹1,572 Mil.
Total Current Liabilities was ₹761 Mil.
Net Income was ₹-164 Mil.

Revenue was ₹1,219 Mil.
Gross Profit was ₹649 Mil.
Average Total Assets from the begining of last year (Mar21)
to the end of last year (Mar22) was (3849.896 + 3628.5) / 2 = ₹3739.198 Mil.
Total Assets at the begining of last year (Mar21) was ₹3,850 Mil.
Long-Term Debt & Capital Lease Obligation was ₹232 Mil.
Total Current Assets was ₹1,317 Mil.
Total Current Liabilities was ₹884 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.

Zodiac Clothing Co's current Net Income (TTM) was 160. ==> 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.

Zodiac Clothing Co's current Cash Flow from Operations (TTM) was 12. ==> 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 (Mar22)
=159.809/3628.5
=0.04404272

ROA (Last Year)=Net Income/Total Assets (Mar21)
=-163.686/3849.896
=-0.04251699

Zodiac Clothing Co's return on assets of this year was 0.04404272. Zodiac Clothing Co's return on assets of last year was -0.04251699. ==> 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.

Zodiac Clothing Co's current Net Income (TTM) was 160. Zodiac Clothing Co's current Cash Flow from Operations (TTM) was 12. ==> 12 <= 160 ==> CFROA <= ROA ==> Score 0.

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: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=201.634/3718.699
=0.05422165

Gearing (Last Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=231.836/3739.198
=0.06200153

Zodiac Clothing Co's gearing of this year was 0.05422165. Zodiac Clothing Co's gearing of last year was 0.06200153. ==> 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: Mar23)=Total Current Assets/Total Current Liabilities
=1572.184/761.385
=2.06490015

Current Ratio (Last Year: Mar22)=Total Current Assets/Total Current Liabilities
=1316.532/884.351
=1.48869849

Zodiac Clothing Co's current ratio of this year was 2.06490015. Zodiac Clothing Co's current ratio of last year was 1.48869849. ==> 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.

Zodiac Clothing Co's number of shares in issue this year was 25.994. Zodiac Clothing Co's number of shares in issue last year was 24.76. ==> 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
=881.596/1691.189
=0.52128769

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=649.215/1218.637
=0.53273863

Zodiac Clothing Co's gross margin of this year was 0.52128769. Zodiac Clothing Co's gross margin of last year was 0.53273863. ==> 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 (Mar22)
=1691.189/3628.5
=0.46608488

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar21)
=1218.637/3849.896
=0.31653764

Zodiac Clothing Co's asset turnover of this year was 0.46608488. Zodiac Clothing Co's asset turnover of last year was 0.31653764. ==> 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+0+1+1+0+0+1
=6

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

Zodiac Clothing Co has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Zodiac Clothing Co  (BOM:521163) 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.


Zodiac Clothing Co Piotroski F-Score Related Terms

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Zodiac Clothing Co (BOM:521163) Business Description

Traded in Other Exchanges
Address
Dr. Annie Besant Road, Nyloc House, 254, D-2, Worli, Mumbai, MH, IND, 400 030
Zodiac Clothing Co Ltd manufactures men's fine clothing and accessories. The products manufactured by the company are shirts, trousers, ties, suits, and accessories. It operates in a single segment which is Garment. Nearly half of the revenue is generated from India and the rest from other countries. Its brand includes Zodiac, ZOD!, and Z3.

Zodiac Clothing Co (BOM:521163) Headlines

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