Samtel India (BOM:500371) Beneish M-Score: 26.00 (As of Jul. 09, 2026) — Near Median


BOM:500371 Samtel India Ltd BOM:500371
19 GF Score
Price ₹57.48
! 4 Warning Signs
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What is Samtel India Beneish M-Score?

Samtel India BOM:500371 -1.99% 19 Beneish M-Score is 26.00 as of Jul. 09, 2026, which is at its 10-year median of 26.00. GuruFocus rates BOM:500371 with a GF Score™ of 19/100. The stock has 4 warning signs investors should review. Among 2,404 Hardware companies, Samtel India ranks worse than 99.67% on this metric.

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 26 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Samtel India's Beneish M-Score or its related term are showing as below:

BOM:500371' s Beneish M-Score Range Over the Past 10 Years
Min: 26   Med: 26   Max: 26
Current: 26

During the past 13 years, the highest Beneish M-Score of Samtel India was 26.00. The lowest was 26.00. And the median was 26.00.

Samtel India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Samtel India'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.

Samtel India Beneish M-Score Chart

Samtel India Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 26.00

Samtel India Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 26.00

BOM:500371 vs AAPL: Beneish M-Score Comparison

For the Consumer Electronics subindustry, Samtel India'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.

Samtel India Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Samtel India's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Samtel India's Beneish M-Score falls into.


BOM:500371
19GF Score
Samtel India Ltd BOM:500371
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Samtel India 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 Samtel India 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 * 0.0015+0.528 * 30.7996+0.404 * 0+0.892 * 15.4+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.215541-0.327 * 0.8644
=26.00

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ₹0.91 Mil.
Revenue was ₹0.77 Mil.
Gross Profit was ₹0.03 Mil.
Total Current Assets was ₹39.43 Mil.
Total Assets was ₹39.43 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹20.29 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹0.59 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-7.91 Mil.
 Total Receivables was ₹39.72 Mil.
Revenue was ₹0.05 Mil.
Gross Profit was ₹0.05 Mil.
Total Current Assets was ₹45.83 Mil.
Total Assets was ₹45.84 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.45 Mil.
Total Current Liabilities was ₹27.29 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 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)
=(0.909 / 0.77) / (39.72 / 0.05)
=1.180519 / 794.4
=0.0015

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)
=(0.05 / 0.05) / (0.025 / 0.77)
=1 / 0.032468
=30.7996

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 - (39.431 + 0) / 39.431) / (1 - (45.832 + 0) / 45.84)
=0 / 0.000175
=0

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
=0.77 / 0.05
=15.4

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))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=1

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)
=(0 / 0.77) / (1.451 / 0.05)
=0 / 29.02
=0

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)
=((0 + 20.293) / 39.431) / ((0 + 27.292) / 45.84)
=0.514646 / 0.595375
=0.8644

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
=(0.59 - 0 - -7.909) / 39.431
=0.215541

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.

Samtel India has a M-score of 26.00 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 26.00 mean?
Samtel India (BOM:500371) has a Beneish M-Score of 26.00 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Samtel India and its competitors. This is near median its historical median of 26.00. Over the past decade, Samtel India's Beneish M-Score has ranged from 26.00 to 26.00. According to the industry distribution chart, Samtel India ranks #2396 out of 2404 companies in the Hardware industry, placing it in the top 99.7%.
Is Samtel India's Beneish M-Score too high?
Samtel India's current Beneish M-Score of 26.00 is near median its 10-year median of 26.00. Over the past 10 years, this metric has ranged from a low of 26.00 to a high of 26.00. Based on the distribution chart, Samtel India ranks #2396 out of 2404 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Samtel India has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Samtel India's Beneish M-Score compare to AAPL?
According to the Hardware industry distribution chart, Samtel India ranks #2396 out of 2404 companies for Beneish M-Score. This places Samtel India in the lower half of its industry. Historically, Samtel India's own Beneish M-Score has ranged from 26.00 to 26.00 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Hardware company?
A good Beneish M-Score depends on the Hardware industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Samtel India and its competitors. Samtel India's current Beneish M-Score is 26.00, which is near median its own 10-year median of 26.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Samtel India stock overvalued right now?
Samtel India (BOM:500371) has a current Beneish M-Score of 26.00. The current Beneish M-Score is 26.00, which is near median its 10-year median of 26.00. Samtel India's overall GF Score™ is 19/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Samtel India (BOM:500371), the current Beneish M-Score is 26.00 as of Jul. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Samtel India Business Description

Address Nehru place, 1212, 12th Floor, 43 Chiranjiv Tower, New Delhi, IND, 110019
Samtel India Ltd operates in the manufacture of display components, including picture tubes for black and white televisions, and engages in the trading of color television tubes and supply of skilled and unskilled manpower. The company also has a presence in avionics and defense electronics through its subsidiaries, which design and produce avionics displays, rugged electronic systems, and related equipment for military and railway applications. Its operations span product design, development, manufacturing, testing, and maintenance. Revenue is generated from the sale of display products and avionics systems, serving markets prominently in India with some international exposure.
19GF Score

Get the complete analysis for BOM:500371

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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