RNIT AI Solutions (BOM:517286) Beneish M-Score: -1.92 (As of Aug. 02, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BOM:517286 RNIT AI Solutions Ltd BOM:517286
40 GF Score
Price ₹64.41
! 2 Warning Signs
View Full Analysis

What is RNIT AI Solutions Beneish M-Score?

RNIT AI Solutions BOM:517286 +4.99% 40 Beneish M-Score is -1.92 as of Aug. 02, 2026. GuruFocus rates BOM:517286 with a GF Score™ of 40/100. The stock has 2 warning signs investors should review. Among 418 Furnishings, Fixtures & Appliances companies, RNIT AI Solutions ranks worse than 83.73% 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.

Good Sign:

Beneish M-Score -1.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:517286' s Beneish M-Score Range Over the Past 10 Years
Min: -2.66   Med: -1.99   Max: -1.92
Current: -1.92

During the past 12 years, the highest Beneish M-Score of RNIT AI Solutions was -1.92. The lowest was -2.66. And the median was -1.99.


RNIT AI Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for RNIT AI Solutions'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.

RNIT AI Solutions Beneish M-Score Chart

RNIT AI Solutions Annual Data
Trend Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.27 -2.66 0.00 0.00 -1.92

RNIT AI Solutions Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 -1.92 0.00

BOM:517286 vs SN, SGI, MHK: Beneish M-Score Comparison

For the Furnishings, Fixtures & Appliances subindustry, RNIT AI Solutions'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.


RNIT AI Solutions Beneish M-Score vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, RNIT AI Solutions's Beneish M-Score distribution charts can be found below:

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


BOM:517286
40GF Score
RNIT AI Solutions Ltd BOM:517286
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

RNIT AI Solutions 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 RNIT AI Solutions 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 * 0.9876+0.528 * 1+0.404 * 0.9391+0.892 * 1.5981+0.115 * 0.964
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1312+4.679 * 0.004701-0.327 * 0.804
=-1.92

* 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 ₹288.2 Mil.
Revenue was ₹515.0 Mil.
Gross Profit was ₹515.0 Mil.
Total Current Assets was ₹781.4 Mil.
Total Assets was ₹1,671.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹5.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹40.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹170.4 Mil.
Total Current Liabilities was ₹219.5 Mil.
Long-Term Debt & Capital Lease Obligation was ₹47.8 Mil.
Net Income was ₹120.2 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹112.3 Mil.
Total Receivables was ₹182.6 Mil.
Revenue was ₹322.3 Mil.
Gross Profit was ₹322.3 Mil.
Total Current Assets was ₹418.5 Mil.
Total Assets was ₹970.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹5.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹27.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹94.3 Mil.
Total Current Liabilities was ₹110.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹82.0 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)
=(288.24 / 514.988) / (182.628 / 322.259)
=0.559702 / 0.566712
=0.9876

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)
=(322.259 / 322.259) / (514.988 / 514.988)
=1 / 1
=1

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 - (781.374 + 5.486) / 1671.42) / (1 - (418.54 + 4.95) / 970.287)
=0.529227 / 0.563542
=0.9391

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
=514.988 / 322.259
=1.5981

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))
=(27.563 / (27.563 + 4.95)) / (40.016 / (40.016 + 5.486))
=0.847753 / 0.879434
=0.964

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)
=(170.437 / 514.988) / (94.286 / 322.259)
=0.330953 / 0.292578
=1.1312

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)
=((47.813 + 219.463) / 1671.42) / ((82.032 + 110.949) / 970.287)
=0.15991 / 0.198891
=0.804

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
=(120.173 - 0 - 112.315) / 1671.42
=0.004701

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.

RNIT AI Solutions has a M-score of -1.92 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.92 mean?
RNIT AI Solutions (BOM:517286) has a Beneish M-Score of -1.92 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on RNIT AI Solutions and its competitors. According to the industry distribution chart, RNIT AI Solutions ranks #350 out of 418 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 83.7%.
Is RNIT AI Solutions' Beneish M-Score too high?
RNIT AI Solutions' current Beneish M-Score is -1.92. Based on the distribution chart, RNIT AI Solutions ranks #350 out of 418 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, RNIT AI Solutions has a GF Score™ of 40/100, reflecting its overall financial health beyond just this single metric.
How does RNIT AI Solutions' Beneish M-Score compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, RNIT AI Solutions ranks #350 out of 418 companies for Beneish M-Score. This places RNIT AI Solutions 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 Furnishings, Fixtures & Appliances company?
A good Beneish M-Score depends on the Furnishings, Fixtures & Appliances 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 RNIT AI Solutions and its competitors. RNIT AI Solutions's current Beneish M-Score is -1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RNIT AI Solutions stock overvalued right now?
RNIT AI Solutions (BOM:517286) has a current Beneish M-Score of -1.92. The current Beneish M-Score is -1.92. RNIT AI Solutions' overall GF Score™ is 40/100 with 2 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 RNIT AI Solutions (BOM:517286), the current Beneish M-Score is -1.92 as of Aug. 02, 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.

RNIT AI Solutions Business Description

Address Kavuri Hills, Plot No 92 93 & 94, Madhapur, Jubilee Hills, Shaikpet, Hyderabad, RJ, IND, 500033
RNIT AI Solutions Ltd is an India-based technology company engaged in providing AI- and IoT-driven digital transformation solutions. The Company designs and develops AI-centric platforms, software solutions, and support and maintenance services, including AI-based identity and authentication systems, facial recognition solutions, conversational AI, digital portals, open-source ERP, data analytics, and Industry 4.0 IoT solutions, mainly delivered through SaaS and O&M models. It provides customized, domain-specific solutions to government departments and enterprises, with a focus on citizen-centric services, digital governance, and last-mile accountability across departments.
40GF Score

Get the complete analysis for BOM:517286

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

₹64.41
Price