Rashi Peripherals Beneish M-Score Historical Data
The historical data trend for Rashi Peripherals'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.
Rashi Peripherals Beneish M-Score Chart
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Rashi Peripherals Annual Data
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Trend |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
-1.28 |
-2.38 |
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Rashi Peripherals Quarterly Data
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|
Mar20 |
Mar21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
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- |
-1.28 |
- |
-2.38 |
- |
Competitive Comparison of Rashi Peripherals's Beneish M-Score
For the Electronics & Computer Distribution subindustry, Rashi Peripherals'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.
Rashi Peripherals's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Rashi Peripherals's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rashi Peripherals's Beneish M-Score falls into.
Rashi Peripherals 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 Rashi Peripherals 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 * 0.7441 | + | 0.528 * 0.9694 | + | 0.404 * 0.8651 | + | 0.892 * 1.0151 | + | 0.115 * 0.8637 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0411 | + | 4.679 * 0.084973 | - | 0.327 * 0.9602 |
| = | -2.38 |
* 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 ₹8,719 Mil.
Revenue was ₹94,543 Mil.
Gross Profit was ₹5,402 Mil.
Total Current Assets was ₹26,732 Mil.
Total Assets was ₹27,986 Mil.
Property, Plant and Equipment(Net PPE) was ₹738 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹167 Mil.
Selling, General, & Admin. Expense(SGA) was ₹493 Mil.
Total Current Liabilities was ₹20,474 Mil.
Long-Term Debt & Capital Lease Obligation was ₹440 Mil.
Net Income was ₹1,233 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-1,146 Mil.
|
Total Receivables was ₹11,543 Mil.
Revenue was ₹93,134 Mil.
Gross Profit was ₹5,159 Mil.
Total Current Assets was ₹25,515 Mil.
Total Assets was ₹26,702 Mil.
Property, Plant and Equipment(Net PPE) was ₹617 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹117 Mil.
Selling, General, & Admin. Expense(SGA) was ₹467 Mil.
Total Current Liabilities was ₹20,152 Mil.
Long-Term Debt & Capital Lease Obligation was ₹629 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) |
| = | (8718.96 / 94542.79) | / | (11543.48 / 93134.38) |
| = | 0.092222 | / | 0.123944 |
| | = | 0.7441 |
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) |
| = | (5159.21 / 93134.38) | / | (5402.42 / 94542.79) |
| = | 0.055395 | / | 0.057143 |
| | = | 0.9694 |
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 - (26732.31 + 737.89) / 27985.99) | / | (1 - (25515.41 + 617.32) / 26701.58) |
| = | 0.01843 | / | 0.021304 |
| | = | 0.8651 |
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 |
| = | 94542.79 | / | 93134.38 |
| | = | 1.0151 |
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)) |
| = | (116.86 / (116.86 + 617.32)) | / | (166.7 / (166.7 + 737.89)) |
| = | 0.159171 | / | 0.184282 |
| | = | 0.8637 |
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) |
| = | (493.32 / 94542.79) | / | (466.82 / 93134.38) |
| = | 0.005218 | / | 0.005012 |
| | = | 1.0411 |
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) |
| = | ((439.88 + 20474.15) / 27985.99) | / | ((629.26 + 20152.22) / 26701.58) |
| = | 0.747304 | / | 0.778287 |
| | = | 0.9602 |
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 |
| = | (1232.51 - 0 | - | -1145.53) | / | 27985.99 |
| | = | 0.084973 |
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.
Rashi Peripherals has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.
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