Kedia Construction Co (BOM:508993) Beneish M-Score: 58.44 (As of Jun. 27, 2026)

What is Kedia Construction Co Beneish M-Score?

Kedia Construction Co BOM:508993 9 Beneish M-Score is 58.44 as of Jun. 27, 2026. GuruFocus rates BOM:508993 with a GF Score™ of 9/100 and a GF Value™ of ₹2.17. The stock has 3 warning signs investors should review.

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

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

BOM:508993' s Beneish M-Score Range Over the Past 10 Years
Min: -6.26 Med: -2 Max: 58.44
Current: 58.44

During the past 13 years, the highest Beneish M-Score of Kedia Construction Co was 58.44. The lowest was -6.26. And the median was -2.00.

Kedia Construction Co Beneish M-Score Related Terms

Kedia Construction Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Kedia Construction Co'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.

Kedia Construction Co Beneish M-Score Chart

Kedia Construction Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

Get a 7-Day Free Trial

19.86

-2.00

-6.26

0.00

58.44

Kedia Construction Co 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															0.00	0.00	0.00	0.00	58.44

BOM:508993 vs JCI, J, PWR: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Kedia Construction Co'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.

Kedia Construction Co Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Kedia Construction Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kedia Construction Co's Beneish M-Score falls into.

Save Embed

9GF Score

Kedia Construction Co Ltd BOM:508993

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Kedia Construction Co 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 Kedia Construction Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1

0.528 * -0.3689

0.404 * 155.0444

0.892 * 0.8059

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9943

4.679 * -0.136128

0.327 * 0.3208

58.44

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹0.00 Mil.
Revenue was ₹5.50 Mil.
Gross Profit was ₹-19.97 Mil.
Total Current Assets was ₹156.52 Mil.
Total Assets was ₹157.65 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.97 Mil.
Total Current Liabilities was ₹9.19 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-23.27 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-1.81 Mil.

Total Receivables was ₹0.00 Mil.
Revenue was ₹6.83 Mil.
Gross Profit was ₹9.14 Mil.
Total Current Assets was ₹44.76 Mil.
Total Assets was ₹44.78 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2.46 Mil.
Total Current Liabilities was ₹8.14 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 / 5.5)	/	(0 / 6.825)
	=	0	/	0
	=	1

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)
	=	(9.143 / 6.825)	/	(-19.972 / 5.5)
	=	1.339634	/	-3.631273
	=	-0.3689

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 - (156.521 + 0.032) / 157.653)	/	(1 - (44.763 + 0.012) / 44.777)
	=	0.006977	/	4.5E-5
	=	155.0444

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
	=	5.5	/	6.825
	=	0.8059

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 + 0.012))	/	(0 / (0 + 0.032))
	=	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)
	=	(1.968 / 5.5)	/	(2.456 / 6.825)
	=	0.357818	/	0.359853
	=	0.9943

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 + 9.194) / 157.653)	/	((0 + 8.14) / 44.777)
	=	0.058318	/	0.18179
	=	0.3208

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
	=	(-23.272 - 0	-	-1.811)	/	157.653
	=	-0.136128

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.

Kedia Construction Co has a M-score of 58.44 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 58.44 mean?

Kedia Construction Co (BOM:508993) has a Beneish M-Score of 58.44 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kedia Construction Co and its competitors.

Is Kedia Construction Co's Beneish M-Score too high?

Kedia Construction Co's current Beneish M-Score is 58.44. Overall, Kedia Construction Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.

How does Kedia Construction Co's Beneish M-Score compare to JCI and J?

Kedia Construction Co's Beneish M-Score of 58.44 can be compared against companies in the Construction industry. 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Kedia Construction Co and its competitors. Kedia Construction Co's current Beneish M-Score is 58.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Kedia Construction Co stock overvalued right now?

Kedia Construction Co (BOM:508993) has a current Beneish M-Score of 58.44. The stock's GF Value™ is ₹2.17, compared to a current price of ₹2.45 — trading 12.7% above its estimated fair value. The current Beneish M-Score is 58.44. Kedia Construction Co's overall GF Score™ is 9/100 with 3 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 Kedia Construction Co (BOM:508993), the current Beneish M-Score is 58.44 as of Jun. 27, 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.

Is Kedia Construction Co (BOM:508993) Overvalued in 2026?

Based on GuruFocus' analysis, Kedia Construction Co stock appears to be overvalued. The current stock price of ₹2.45 is trading 12.7% above its estimated GF Value™ of ₹2.17.

Key valuation signals for BOM:508993:

Beneish M-Score: 58.44
GF Value™: ₹2.17 vs. price of ₹2.45 (12.7% above fair value)
GF Score™: 9/100 with 3 warning signs

No single metric tells the full story. See the BOM:508993 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Kedia Construction Co Business Description

Industry Industrials Construction

Comparable Companies BOM:542002 BOM:539544 BOM:540134 BOM:508860 XPAR:DG JCI SHSE:601668 NSE:LT SHSE:601390 HKSE:01800 J SHSE:601669 PWR XKRX:028260 SHSE:601186 XPAR:EN HKSE:03996 TSX:WSP XMAD:ANA SHSE:601618

Address Almeida Road, 3rd Floor, Prestige Precinct, Panchpakhadi, Thane (West), Thane, MH, IND, 400601

Website http://www.kcclindia.com

Kedia Construction Co Ltd is engaged in activities of Construction, Builders, Construction Contractors, and Land Developers. The company is operating in one segment known as Construction Activity.

9GF Score

Get the complete analysis for BOM:508993

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

₹2.45

Price

₹2.17

GF Value

View BOM:508993 Analysis

See Beneish M-Score data for all stocks →