M K Proteins Beneish M-Score Historical Data
The historical data trend for M K Proteins'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.
M K Proteins Beneish M-Score Chart
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M K Proteins Annual Data
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Trend |
Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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-2.73 |
-1.86 |
-1.48 |
-1.35 |
-1.65 |
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M K Proteins Quarterly Data
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Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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-2.73 |
-1.86 |
-1.48 |
-1.35 |
-1.65 |
Competitive Comparison of M K Proteins's Beneish M-Score
For the Packaged Foods subindustry, M K Proteins'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.
M K Proteins's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, M K Proteins's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where M K Proteins's Beneish M-Score falls into.
M K Proteins 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 M K Proteins 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 * 1.2395 | + | 0.528 * 0.7622 | + | 0.404 * 0.6963 | + | 0.892 * 1.8296 | + | 0.115 * 0.7773 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.7186 | + | 4.679 * 0.474479 | - | 0.327 * 0.817 |
| = | 0.19 |
* 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 (Mar19) TTM: |
Total Receivables was ₹261 Mil.
Revenue was 3148.6 + 2558.884 + 3110.979 + 1940.181 = ₹10,759 Mil.
Gross Profit was 202.562 + 186.779 + 186.154 + 71.292 = ₹647 Mil.
Total Current Assets was ₹1,018 Mil.
Total Assets was ₹1,049 Mil.
Property, Plant and Equipment(Net PPE) was ₹24 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹38 Mil.
Selling, General, & Admin. Expense(SGA) was ₹15 Mil.
Total Current Liabilities was ₹520 Mil.
Long-Term Debt & Capital Lease Obligation was ₹25 Mil.
Net Income was 106.46 + 101.845 + 103.889 + 18.169 = ₹330 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₹0 Mil.
Cash Flow from Operations was -76.967 + -101.224 + 55.355 + -44.689 = ₹-168 Mil.
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Total Receivables was ₹115 Mil.
Revenue was 1555.238 + 1645.349 + 1447.534 + 1232.333 = ₹5,880 Mil.
Gross Profit was 64.233 + 78.443 + 65.299 + 61.482 = ₹269 Mil.
Total Current Assets was ₹424 Mil.
Total Assets was ₹473 Mil.
Property, Plant and Equipment(Net PPE) was ₹44 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹40 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3 Mil.
Total Current Liabilities was ₹286 Mil.
Long-Term Debt & Capital Lease Obligation was ₹15 Mil.
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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) |
| = | (261.151 / 10758.644) | / | (115.159 / 5880.454) |
| = | 0.024274 | / | 0.019583 |
| | = | 1.2395 |
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) |
| = | (269.457 / 5880.454) | / | (646.787 / 10758.644) |
| = | 0.045822 | / | 0.060118 |
| | = | 0.7622 |
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 - (1018.133 + 23.596) / 1049.337) | / | (1 - (423.794 + 43.892) / 472.607) |
| = | 0.00725 | / | 0.010412 |
| | = | 0.6963 |
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 |
| = | 10758.644 | / | 5880.454 |
| | = | 1.8296 |
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)) |
| = | (40.054 / (40.054 + 43.892)) | / | (37.513 / (37.513 + 23.596)) |
| = | 0.47714 | / | 0.61387 |
| | = | 0.7773 |
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) |
| = | (15.387 / 10758.644) | / | (3.093 / 5880.454) |
| = | 0.00143 | / | 0.000526 |
| | = | 2.7186 |
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) |
| = | ((25.418 + 520.211) / 1049.337) | / | ((15.165 + 285.625) / 472.607) |
| = | 0.519975 | / | 0.636448 |
| | = | 0.817 |
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 |
| = | (330.363 - 0 | - | -167.525) | / | 1049.337 |
| | = | 0.474479 |
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.
M K Proteins has a M-score of 0.19 signals that the company is likely to be a manipulator.
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