Global Longlife Hospital & Research (BOM:543520) Beneish M-Score : 0.95 (As of May. 27, 2024)

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What is Global Longlife Hospital & Research Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Warning Sign:

Beneish M-Score 0.95 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Global Longlife Hospital & Research's Beneish M-Score or its related term are showing as below:

BOM:543520' s Beneish M-Score Range Over the Past 10 Years
Min: -3.71 Med: -2.63 Max: 0.95
Current: 0.95

During the past 5 years, the highest Beneish M-Score of Global Longlife Hospital & Research was 0.95. The lowest was -3.71. And the median was -2.63.

Global Longlife Hospital & Research Beneish M-Score Historical Data

The historical data trend for Global Longlife Hospital & Research'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.

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Global Longlife Hospital & Research Beneish M-Score Chart

Global Longlife Hospital & Research Annual Data

Trend

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

-2.63

-3.71

0.95

Global Longlife Hospital & Research Semi-Annual Data
	Mar19	Mar20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Beneish M-Score	Get a 7-Day Free Trial			-	-3.71	-	0.95	-

Competitive Comparison of Global Longlife Hospital & Research's Beneish M-Score

For the Medical Care Facilities subindustry, Global Longlife Hospital & Research'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.

Global Longlife Hospital & Research's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Global Longlife Hospital & Research's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Global Longlife Hospital & Research's Beneish M-Score falls into.

Global Longlife Hospital & Research 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 Global Longlife Hospital & Research for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.5208

0.528 * 1.1128

0.404 * 1.88

0.892 * 0.7162

0.115 * 1.0276

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2552

4.679 * 0.556275

0.327 * 0.3096

0.95

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was ₹97.0 Mil.
Revenue was ₹235.0 Mil.
Gross Profit was ₹100.2 Mil.
Total Current Assets was ₹335.3 Mil.
Total Assets was ₹759.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹175.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11.7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3.4 Mil.
Total Current Liabilities was ₹78.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹36.4 Mil.
Net Income was ₹18.3 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-404.2 Mil.

Total Receivables was ₹89.1 Mil.
Revenue was ₹328.2 Mil.
Gross Profit was ₹155.7 Mil.
Total Current Assets was ₹113.5 Mil.
Total Assets was ₹339.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹167.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3.8 Mil.
Total Current Liabilities was ₹137.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₹28.2 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)
	=	(97.014 / 235.017)	/	(89.072 / 328.154)
	=	0.412796	/	0.271434
	=	1.5208

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)
	=	(155.691 / 328.154)	/	(100.198 / 235.017)
	=	0.474445	/	0.426344
	=	1.1128

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 - (335.281 + 175.45) / 759.383)	/	(1 - (113.48 + 167.089) / 339.741)
	=	0.32744	/	0.174168
	=	1.88

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
	=	235.017	/	328.154
	=	0.7162

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))
	=	(11.437 / (11.437 + 167.089))	/	(11.665 / (11.665 + 175.45))
	=	0.064063	/	0.062341
	=	1.0276

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)
	=	(3.443 / 235.017)	/	(3.83 / 328.154)
	=	0.01465	/	0.011671
	=	1.2552

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)
	=	((36.423 + 78.398) / 759.383)	/	((28.212 + 137.725) / 339.741)
	=	0.151203	/	0.488422
	=	0.3096

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
	=	(18.275 - 0	-	-404.151)	/	759.383
	=	0.556275

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.

Global Longlife Hospital & Research has a M-score of 0.95 signals that the company is likely to be a manipulator.

Global Longlife Hospital & Research Beneish M-Score Related Terms

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Global Longlife Hospital & Research (BOM:543520) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Global Longlife Hospital & Research Ltd (BOM:543520) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Pakwan Cross Road, Near Sindhubhavan Road, Near Water Tank, Opposite Auda Garden, Bodakdev, Ahmedabad, GJ, IND, 380054

Website

https://www.globalhospital.co.in

Global Longlife Hospital & Research Ltd provides health care services. The company offers Oncology, Ophthalmology, Cardiology, Dermatology, Gynecology, Spine Surgery, Plastic Surgery, Ultrasound, Microbiology, Dialysis, and Physiotherapy among other healthcare services.

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