Yogi (BOM:511702) Beneish M-Score: 1.19 (As of Jun. 26, 2026)


BOM:511702 Yogi Ltd BOM:511702
33 GF Score
Price ₹169.80
! 5 Warning Signs
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What is Yogi Beneish M-Score?

Yogi BOM:511702 -2.22% 33 Beneish M-Score is 1.19 as of Jun. 26, 2026. GuruFocus rates BOM:511702 with a GF Score™ of 33/100. The stock has 5 warning signs investors should review. Among 1,682 Real Estate companies, Yogi ranks worse than 92.81% 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 1.19 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:511702' s Beneish M-Score Range Over the Past 10 Years
Min: -4.61   Med: -1.48   Max: 15.9
Current: 1.19

During the past 13 years, the highest Beneish M-Score of Yogi was 15.90. The lowest was -4.61. And the median was -1.48.

Yogi Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Yogi'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.

Yogi Beneish M-Score Chart

Yogi 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 15.90 0.00 0.00 0.00 1.19

Yogi 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 1.19

Yogi Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Yogi'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.

Yogi Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Yogi's Beneish M-Score distribution charts can be found below:

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


BOM:511702
33GF Score
Yogi Ltd BOM:511702
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Yogi 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 Yogi 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 * 0.6678+0.528 * 0.1373+0.404 * 1.8443+0.892 * 3.9564+0.115 * 0.0043
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.300086-0.327 * 1.0398
=1.19

* 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 ₹3,460 Mil.
Revenue was ₹4,395 Mil.
Gross Profit was ₹323 Mil.
Total Current Assets was ₹7,007 Mil.
Total Assets was ₹7,119 Mil.
Property, Plant and Equipment(Net PPE) was ₹1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹5,299 Mil.
Long-Term Debt & Capital Lease Obligation was ₹398 Mil.
Net Income was ₹212 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-1,925 Mil.
 Total Receivables was ₹1,310 Mil.
Revenue was ₹1,111 Mil.
Gross Profit was ₹11 Mil.
Total Current Assets was ₹4,783 Mil.
Total Assets was ₹4,886 Mil.
Property, Plant and Equipment(Net PPE) was ₹61 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2 Mil.
Total Current Liabilities was ₹3,609 Mil.
Long-Term Debt & Capital Lease Obligation was ₹151 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)
=(3460.041 / 4394.507) / (1309.544 / 1110.72)
=0.787356 / 1.179005
=0.6678

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)
=(11.219 / 1110.72) / (323.289 / 4394.507)
=0.010101 / 0.073567
=0.1373

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 - (7006.966 + 0.692) / 7118.808) / (1 - (4783.477 + 61.475) / 4886.321)
=0.015614 / 0.008466
=1.8443

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
=4394.507 / 1110.72
=3.9564

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))
=(0.217 / (0.217 + 61.475)) / (3.091 / (3.091 + 0.692))
=0.003517 / 0.817076
=0.0043

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 / 4394.507) / (2.346 / 1110.72)
=0 / 0.002112
=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)
=((397.699 + 5299.391) / 7118.808) / ((151.342 + 3609.318) / 4886.321)
=0.800287 / 0.76963
=1.0398

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
=(211.751 - 0 - -1924.507) / 7118.808
=0.300086

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.

Yogi has a M-score of 1.19 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 1.19 mean?
Yogi (BOM:511702) has a Beneish M-Score of 1.19 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Yogi and its competitors. According to the industry distribution chart, Yogi ranks #1561 out of 1682 companies in the Real Estate industry, placing it in the top 92.8%.
Is Yogi's Beneish M-Score too high?
Yogi's current Beneish M-Score is 1.19. Based on the distribution chart, Yogi ranks #1561 out of 1682 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Yogi has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does Yogi's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Yogi ranks #1561 out of 1682 companies for Beneish M-Score. This places Yogi in the lower half of its 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Yogi and its competitors. Yogi's current Beneish M-Score is 1.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Yogi stock overvalued right now?
Yogi (BOM:511702) has a current Beneish M-Score of 1.19. The current Beneish M-Score is 1.19. Yogi's overall GF Score™ is 33/100 with 5 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 Yogi (BOM:511702), the current Beneish M-Score is 1.19 as of Jun. 26, 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.

Yogi Business Description

Address B/404, The Capital, G-Block, 4th Floor, Bandra Kurla Complex, Behind ICICI Bank, Bandra East, Mumbai, MH, IND, 400 051
Yogi Ltd is an India-based company with an object to provide real estate development services. It has been taking a key role in providing construction services with an uncompromised commitment to Quality, Health, Safety, and Environment. The business operations of the Company are classified into two segments: Real Estate and Trading in Machinery.
33GF Score

Get the complete analysis for BOM:511702

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

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