Why are numbers on Screener different?
Numbers on Screener are sometimes different from other sources.
Most of these differences are because:
- We put in some extra effort in picking the latest numbers. We also make some adjustments in ratios.
- There are differences in reporting formats across companies. These differences are normalised in some cases.
- There are some errors once in a while. These are rare and fixed as soon as reported.
The details of these differences are given below.
Differences from annual reports
The differences from annual reports are because of regroupings and changes in numbers themselves.
Regrouping of numbers
The reporting formats of the companies keep changing. We need to regroup some of the numbers because of these changes.
Employee costs include director remunerations
Some companies include the director remunerations (commissions and sitting fees) in employee expenses while others don't. We include director remuneration under employee expenses in all the cases.
Borrowings include "current maturities of long term debts"
The amount of borrowings is usually split into three heads: non-current borrowings, current borrowings and other liabilities.
The amount of "current maturities of long term debts" are often classified under "other liabilities". We include this number in borrowings where the details are available.
Current maturities are not included in the case of half-yearly balance sheets as their details are provided.
Borrowings include lease liabilities
The recent Ind-AS changes require companies to classify leases as borrowings. This amount is correspondingly included in the debt.
Sales are net of excise duty and sales tax
Post GST implementation, most companies report sales net of excise duty and taxes. However, some companies, such as liquor and tobacco companies, report them separately as such levies are quite high.
We net off excise duty and sales tax from reported sales in all the cases. This makes the numbers more comparable across companies and years.
Sales are net of discounts
While some companies report the sales net of discounts, others classify the discounts under other expenses. We net of sales with discounts in all the cases. The makes the companies comparable on margins. This also makes the numbers comparable across years.
Deferred tax asset/liability is shown as the net number
Most companies report the net amount of deferred tax either in asset or liabilities. However, some companies report the amount of deferred tax an deferred liabilities separately. We net-off the deferred tax amounts in all the cases and show it as a single item either in assets or in the liabilities side.
Changes in reported numbers
Companies sometimes revise their numbers in the next year's annual report. So they might report the sales as ₹ 120 Crores in FY20 but report the same sales of FY20 as ₹100 Crores in the FY21 annual report. These changes are often due to change in accounting policies or changes in accounting standards.
The Screener will show the most latest numbers available. It will revise the old numbers when the company revises them in the new annual reports. Thus Screener will show ₹100 Crores of sales in FY20 in this case.
Differences from other websites
We calculate the ratios on consolidated numbers where they are available. Many other websites might calculate the ratios on standalone numbers.
Half-yearly balance sheets
We consider half-yearly balance sheets when available. Thus we consider the most recent data for calculating debt to equity and the number of fixed assets. Most other websites consider only the annual data which quickly becomes outdated.