Sharda Cropchem Beneish M-Score Historical Data
The historical data trend for Sharda Cropchem'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.
Sharda Cropchem Beneish M-Score Chart
|
Sharda Cropchem Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.28 |
-2.43 |
-2.07 |
-2.30 |
-2.68 |
|
Sharda Cropchem Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.30 |
- |
- |
- |
-2.68 |
Competitive Comparison of Sharda Cropchem's Beneish M-Score
For the Agricultural Inputs subindustry, Sharda Cropchem'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.
Sharda Cropchem's Beneish M-Score Distribution in the Agriculture Industry
For the Agriculture industry and Basic Materials sector, Sharda Cropchem's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sharda Cropchem's Beneish M-Score falls into.
Sharda Cropchem 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 Sharda Cropchem 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 * 1.0407 | + | 0.528 * 1.1285 | + | 0.404 * 1.072 | + | 0.892 * 0.7819 | + | 0.115 * 1.047 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.07662 | - | 0.327 * 0.8684 |
| = | -2.68 |
* 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: |
Total Receivables was ₹14,980 Mil.
Revenue was ₹31,630 Mil.
Gross Profit was ₹8,206 Mil.
Total Current Assets was ₹29,379 Mil.
Total Assets was ₹40,383 Mil.
Property, Plant and Equipment(Net PPE) was ₹182 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2,671 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹15,805 Mil.
Long-Term Debt & Capital Lease Obligation was ₹78 Mil.
Net Income was ₹319 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹3,413 Mil.
|
Total Receivables was ₹18,409 Mil.
Revenue was ₹40,452 Mil.
Gross Profit was ₹11,844 Mil.
Total Current Assets was ₹32,582 Mil.
Total Assets was ₹43,508 Mil.
Property, Plant and Equipment(Net PPE) was ₹50 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2,481 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3,361 Mil.
Total Current Liabilities was ₹19,706 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 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) |
| = | (14979.995 / 31630.245) | / | (18409.318 / 40451.566) |
| = | 0.473597 | / | 0.455095 |
| | = | 1.0407 |
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) |
| = | (11843.737 / 40451.566) | / | (8206.384 / 31630.245) |
| = | 0.292788 | / | 0.259447 |
| | = | 1.1285 |
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 - (29379.022 + 181.617) / 40383.224) | / | (1 - (32581.678 + 49.774) / 43508.279) |
| = | 0.267997 | / | 0.249994 |
| | = | 1.072 |
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 |
| = | 31630.245 | / | 40451.566 |
| | = | 0.7819 |
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)) |
| = | (2481.174 / (2481.174 + 49.774)) | / | (2671.318 / (2671.318 + 181.617)) |
| = | 0.980334 | / | 0.93634 |
| | = | 1.047 |
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) |
| = | (0 / 31630.245) | / | (3361.042 / 40451.566) |
| = | 0 | / | 0.083088 |
| | = | 0 |
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) |
| = | ((77.597 + 15805.494) / 40383.224) | / | ((0 + 19705.596) / 43508.279) |
| = | 0.393309 | / | 0.452916 |
| | = | 0.8684 |
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 |
| = | (318.831 - 0 | - | 3412.99) | / | 40383.224 |
| | = | -0.07662 |
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.
Sharda Cropchem has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BOM:538666 has been successfully added to your