Reconciling numbers and reporting the errors

Please let us know if you face any discrepancies in the data items and we shall provide you with a reconciliation. Common items that often require reconciliations are:

We update previous year's numbers from next year's annual reports. This provides updated numbers and groupings. It provides more accurate comparisons.

Sales

We calculate Sales as Total Revenue from Operations less excise duties, Sales tax and VAT.

Other Income is included under the head "Other Income" on Screener. So we include only revenue from operations strictly under revenues. This helps in common representation across companies.

** Other Income also includes Exceptional/ extraordinary items on Screener.

Sales on Screener = Total Revenue - Other Income - ( excise Duties + VAT + Sales Tax)

You will find details like Sales Tax and VAT in schedules of Other expenses to the Profit & Loss.

Employee Cost

We include the director remuneration in the employee cost.

Some companies classify Director's remuneration in Other expenses.

Net Profit

We show profits attributable to the owners of the company as Net Profit.

Borrowings

Borrowings include Long term, Short term borrowings, Current maturities and Lease liabilities, if any.

Borrowings = LT+ ST+ Current Maturities+ Lease liabilities.

You will find the value of Current Maturities in the schedules to Balance sheet.

Assets

Fixed Assets

Fixed assets include PPE, goodwill, intangibles and right of use assets while CWIP is shown separately.

Ratios

Price to Earning

We calculate PE as Market Capitalization/ Profit After Tax (TTM)

We exclude exceptional items for calculating PE. This provides a better ratio number for decision making. Most other websites don't make this adjustment.

ROIC

ROIC = Operating profit upon invested capital (net block + working capital)

Debt to Equity

DE as Debt/ Equity + Reserves

ROCE

ROCE is EBIT / Annual Average Capital Employed, where Capital Employed = Share capital + Reserves + Borrowings

We exclude exceptional items for calculating ROCE.

ROE

ROE as PAT last year divided by Average Equity (share capital + reserves).

Debtor Days

Debtor days is calculated as Average trade receivables by sales per day as per the latest annual report.

Inventory Turnover Ratio

The formula for Inventory Turnover Ratio is Annual sales (last year) / Average of closing inventory (two years).

We use cost of goods sold instead of sales.

Dividend Yield

We calculate Dividend Yield as Dividend / Current price.

We consider interim dividend or the dividend last year amount whichever is higher and we do not include special dividend for the calculation of dividend yield.

Functions We support functions like:

coalesce, least, power, abs, sqrt and log.

You can use "+", "-", "*", "/", ">", "<", "<=", ">=", as mathematical operators.
And "If", "power", "least", "abs" (for absolute) , "sqrt" (for Square root), "log", "coalesce", as statistical operators.

You can also use IF. IF(condition, true value, false value)

Eg. We can use IF to create a ratio like Piotroski or other such score.

Example:
if(Average return on capital employed 5Years > 15, 1, 0)
+ if(Earnings yield > 5, 1, 0)

Their usage is same as we use them in Microsoft Excel.

You can use POWER(value, times) function for exponents.

You can try using COALESCE function, for screening 0 values.

COALESCE is used to provide a default value in case the value is null.

The query will be:

coalesce(Interest Coverage ratio, -1) = -1

Here we are saying that use -1 if the value is null for Interest Coverage ratio.

Then we are searching for companies where this value is -1.