DOMS Industries Beneish M-Score Historical Data
The historical data trend for DOMS Industries'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.
DOMS Industries Beneish M-Score Chart
|
DOMS Industries Annual Data
|
|
Trend |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
-2.78 |
|
DOMS Industries Semi-Annual Data
|
|
Mar21 |
Mar22 |
Mar23 |
Sep23 |
| Beneish M-Score |
- |
- |
-2.78 |
- |
Competitive Comparison of DOMS Industries's Beneish M-Score
For the Business Equipment & Supplies subindustry, DOMS Industries'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.
DOMS Industries's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, DOMS Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DOMS Industries's Beneish M-Score falls into.
DOMS Industries 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 DOMS Industries 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 * 0.4108 | + | 0.528 * 0.9912 | + | 0.404 * 1.1267 | + | 0.892 * 1.7749 | + | 0.115 * 1.2836 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9398 | + | 4.679 * -0.121058 | - | 0.327 * 0.9245 |
| = | -2.78 |
* 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: |
Total Receivables was ₹367 Mil.
Revenue was ₹12,077 Mil.
Gross Profit was ₹4,256 Mil.
Total Current Assets was ₹2,794 Mil.
Total Assets was ₹6,398 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,249 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹407 Mil.
Selling, General, & Admin. Expense(SGA) was ₹465 Mil.
Total Current Liabilities was ₹2,299 Mil.
Long-Term Debt & Capital Lease Obligation was ₹454 Mil.
Net Income was ₹958 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹1,733 Mil.
|
Total Receivables was ₹503 Mil.
Revenue was ₹6,804 Mil.
Gross Profit was ₹2,377 Mil.
Total Current Assets was ₹2,446 Mil.
Total Assets was ₹4,975 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,283 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹380 Mil.
Selling, General, & Admin. Expense(SGA) was ₹279 Mil.
Total Current Liabilities was ₹1,993 Mil.
Long-Term Debt & Capital Lease Obligation was ₹322 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) |
| = | (366.86 / 12076.6) | / | (503.18 / 6804.2) |
| = | 0.030378 | / | 0.073951 |
| | = | 0.4108 |
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) |
| = | (2376.66 / 6804.2) | / | (4255.9 / 12076.6) |
| = | 0.349293 | / | 0.352409 |
| | = | 0.9912 |
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 - (2793.52 + 3249.4) / 6397.83) | / | (1 - (2446.35 + 2283.33) / 4974.61) |
| = | 0.055473 | / | 0.049236 |
| | = | 1.1267 |
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 |
| = | 12076.6 | / | 6804.2 |
| | = | 1.7749 |
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)) |
| = | (380.13 / (380.13 + 2283.33)) | / | (406.5 / (406.5 + 3249.4)) |
| = | 0.14272 | / | 0.11119 |
| | = | 1.2836 |
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) |
| = | (465.31 / 12076.6) | / | (278.96 / 6804.2) |
| = | 0.03853 | / | 0.040998 |
| | = | 0.9398 |
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) |
| = | ((454.12 + 2298.97) / 6397.83) | / | ((322.14 + 1993.34) / 4974.61) |
| = | 0.430316 | / | 0.46546 |
| | = | 0.9245 |
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 |
| = | (958.12 - 0 | - | 1732.63) | / | 6397.83 |
| | = | -0.121058 |
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.
DOMS Industries has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BOM:544045 has been successfully added to your