Roma Green Finance Limited
ROMA Industrials Consulting Services
Roma Green Finance Limited’s revenue for fiscal 2026 (year ended March 2026) was $1.2 million, down 22.2% from fiscal 2025.
Follow ROMA
Roma Green Finance Limited (ROMA) Beneish M-score
Roma Green Finance Limited's Beneish M-score for fiscal 2026 is 2.00; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | 2.00 | 6.10 |
| FY2025 | −4.11 | (2.92) |
| FY2024 | −1.19 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.33 | — | 1.22 | |
| Gross margin index | 2.16 | — | 1.14 | |
| Asset quality index | 11.60 | — | 4.69 | |
| Sales growth index | 0.78 | — | 0.69 | |
| Depreciation index | 0.45 | — | 0.05 | |
| SG&A index | 1.23 | — | −0.21 | |
| Total accruals to total assets | (0.10) | — | −0.45 | |
| Leverage index | 0.92 | — | −0.30 | |
| Beneish M-score | Flagged by the model | 2.00 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| FORR Forrester Research, Inc. compare | −4.4× |
| RGP Resources Connection, Inc. compare | −3.5× |
| HURN Huron Consulting Group Inc. compare | −2.7× |
| ICFI ICF International, Inc. compare | −2.6× |
| CRAI Charles River Associates compare | −2.2× |
| SBC SBC Medical Group Holdings Incorporated compare | −2.0× |
| EGG Enigmatig Limited compare | 0.5× |
| ROMA Roma Green Finance Limited | 2.0× |
| LAWR Robot Consulting Co., Ltd. compare | 2.5× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI