Vimta Labs (BOM:524394) Beneish M-Score: -3.00 (As of Aug. 05, 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:524394 Vimta Labs Ltd BOM:524394
84 GF Score
Price ₹641.20
GF Value ₹495.16
Valuation Modestly Overvalued
! 1 Warning Sign
View Full Analysis

What is Vimta Labs Beneish M-Score?

Vimta Labs BOM:524394 +3.58% 84 Beneish M-Score is -3.00 as of Aug. 05, 2026. GuruFocus rates BOM:524394 with a GF Score™ of 84/100 and a GF Value™ of ₹495.16 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 193 Medical Diagnostics & Research companies, Vimta Labs ranks better than 74.09% 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 -3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:524394' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12   Med: -2.67   Max: -2.2
Current: -3

During the past 13 years, the highest Beneish M-Score of Vimta Labs was -2.20. The lowest was -3.12. And the median was -2.67.


Vimta Labs Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vimta Labs'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.

Vimta Labs Beneish M-Score Chart

Vimta Labs 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 -2.24 -3.12 -2.67 -2.63 -3.00

Vimta Labs Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 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 -3.00 0.00

BOM:524394 vs TMO, DHR, IDXX: Beneish M-Score Comparison

For the Diagnostics & Research subindustry, Vimta Labs'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.


Vimta Labs Beneish M-Score vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Vimta Labs's Beneish M-Score distribution charts can be found below:

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


BOM:524394
84GF Score
Vimta Labs Ltd BOM:524394
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vimta Labs 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 Vimta Labs 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 * 0.8456+0.528 * 0.9884+0.404 * 0.95+0.892 * 1.184+0.115 * 0.9925
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9623+4.679 * -0.123847-0.327 * 0.8236
=-3.00

* 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 ₹1,069 Mil.
Revenue was ₹4,073 Mil.
Gross Profit was ₹3,265 Mil.
Total Current Assets was ₹2,249 Mil.
Total Assets was ₹5,622 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,185 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹438 Mil.
Selling, General, & Admin. Expense(SGA) was ₹105 Mil.
Total Current Liabilities was ₹655 Mil.
Long-Term Debt & Capital Lease Obligation was ₹16 Mil.
Net Income was ₹775 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹1,471 Mil.
Total Receivables was ₹1,067 Mil.
Revenue was ₹3,440 Mil.
Gross Profit was ₹2,725 Mil.
Total Current Assets was ₹1,878 Mil.
Total Assets was ₹4,665 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,622 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹357 Mil.
Selling, General, & Admin. Expense(SGA) was ₹92 Mil.
Total Current Liabilities was ₹644 Mil.
Long-Term Debt & Capital Lease Obligation was ₹32 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)
=(1068.76 / 4072.9) / (1067.46 / 3439.82)
=0.262408 / 0.310324
=0.8456

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)
=(2725.35 / 3439.82) / (3264.97 / 4072.9)
=0.792294 / 0.801633
=0.9884

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 - (2248.7 + 3184.93) / 5622.28) / (1 - (1878.16 + 2622.38) / 4665.32)
=0.033554 / 0.03532
=0.95

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
=4072.9 / 3439.82
=1.184

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))
=(357.33 / (357.33 + 2622.38)) / (437.72 / (437.72 + 3184.93))
=0.119921 / 0.120829
=0.9925

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)
=(105.14 / 4072.9) / (92.28 / 3439.82)
=0.025815 / 0.026827
=0.9623

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)
=((15.62 + 655.23) / 5622.28) / ((32.24 + 643.67) / 4665.32)
=0.11932 / 0.14488
=0.8236

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
=(775.12 - 0 - 1471.42) / 5622.28
=-0.123847

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.

Vimta Labs has a M-score of -3.00 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 -3.00 mean?
Vimta Labs (BOM:524394) has a Beneish M-Score of -3.00 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vimta Labs and its competitors. According to the industry distribution chart, Vimta Labs ranks #50 out of 193 companies in the Medical Diagnostics & Research industry, placing it in the top 25.9%.
Is Vimta Labs' Beneish M-Score too high?
Vimta Labs' current Beneish M-Score is -3.00. Based on the distribution chart, Vimta Labs ranks #50 out of 193 companies in the Medical Diagnostics & Research industry, which is above the industry midpoint. Overall, Vimta Labs has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vimta Labs' Beneish M-Score compare to TMO and DHR?
According to the Medical Diagnostics & Research industry distribution chart, Vimta Labs ranks #50 out of 193 companies for Beneish M-Score. This puts Vimta Labs in the upper 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 Medical Diagnostics & Research company?
A good Beneish M-Score depends on the Medical Diagnostics & Research 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 Vimta Labs and its competitors. Vimta Labs's current Beneish M-Score is -3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vimta Labs stock overvalued right now?
Based on GuruFocus' analysis, Vimta Labs (BOM:524394) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹495.16, compared to a current price of ₹641.20 — trading 29.5% above its estimated fair value. The current Beneish M-Score is -3.00. Vimta Labs' overall GF Score™ is 84/100 with 1 warning sign 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 Vimta Labs (BOM:524394), the current Beneish M-Score is -3.00 as of Aug. 05, 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 Vimta Labs (BOM:524394) Overvalued in 2026?

Based on GuruFocus' analysis, Vimta Labs stock appears to be overvalued. The current stock price of ₹641.20 is trading 29.5% above its estimated GF Value™ of ₹495.16. GuruFocus considers Vimta Labs to be Modestly Overvalued.

Key valuation signals for BOM:524394:

  • Beneish M-Score: -3.00
  • GF Value™: ₹495.16 vs. price of ₹641.20 (29.5% above fair value)
  • GF Score™: 84/100 with 1 warning sign

No single metric tells the full story. See the BOM:524394 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vimta Labs Business Description

Other Exchanges VIMTALABS:India
Address Plot No.141/2 & 142, IDA, Phase-II, Cherlapally, R. R. District, Hyderabad, TG, IND, 500051
Vimta Labs Ltd is a comprehensive contract research and testing organization, providing a wide range of services to pharmaceutical, biopharmaceutical, food, consumer goods, electronic, electrical, agrochemical, healthcare, medical device, and many other industries. Its services portfolio includes testing and contract research services in the fields of clinical research, pre-clinical research, clinical diagnostics, biopharma services, analytical testing, research and environmental studies, and Others. It has only one reportable segment namely Contract Research and Testing Services which generates the revenue.
84GF Score

Get the complete analysis for BOM:524394

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

₹641.20
Price
₹495.16
GF Value