Daulat Securities (BOM:530171) Beneish M-Score: 0.00 (As of Jul. 12, 2026)


BOM:530171 Daulat Securities Ltd BOM:530171
46 GF Score
Price ₹29.00
GF Value ₹0.51
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Daulat Securities Beneish M-Score?

Daulat Securities BOM:530171 46 Beneish M-Score is 0.00 as of Jul. 12, 2026. GuruFocus rates BOM:530171 with a GF Score™ of 46/100 and a GF Value™ of ₹0.51 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 704 Capital Markets companies, Daulat Securities ranks worse than 142045.31% 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.

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

During the past 13 years, the highest Beneish M-Score of Daulat Securities was 0.71. The lowest was -3.14. And the median was -0.24.

Daulat Securities Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Daulat Securities'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.

Daulat Securities Beneish M-Score Chart

Daulat Securities 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 -3.14 -1.26 0.21 -0.24 0.00

Daulat Securities 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 -0.24 0.00 0.00 0.00 0.00

BOM:530171 vs MS, GS, SCHW: Beneish M-Score Comparison

For the Capital Markets subindustry, Daulat Securities'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.

Daulat Securities Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Daulat Securities's Beneish M-Score distribution charts can be found below:

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


BOM:530171
46GF Score
Daulat Securities Ltd BOM:530171
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Daulat Securities 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 Daulat Securities 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ₹13.49 Mil.
Revenue was ₹-14.28 Mil.
Gross Profit was ₹-19.10 Mil.
Total Current Assets was ₹83.65 Mil.
Total Assets was ₹210.96 Mil.
Property, Plant and Equipment(Net PPE) was ₹7.77 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.66 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹15.89 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-17.87 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-6.21 Mil.
 Total Receivables was ₹15.00 Mil.
Revenue was ₹16.63 Mil.
Gross Profit was ₹11.21 Mil.
Total Current Assets was ₹105.89 Mil.
Total Assets was ₹234.80 Mil.
Property, Plant and Equipment(Net PPE) was ₹7.93 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.67 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2.56 Mil.
Total Current Liabilities was ₹15.74 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)
=(13.485 / -14.28) / (14.996 / 16.63)
= / 0.901744
=

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)
=(11.214 / 16.63) / (-19.102 / -14.28)
=0.674324 /
=

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 - (83.647 + 7.766) / 210.962) / (1 - (105.887 + 7.934) / 234.797)
=0.566685 / 0.515237
=

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
=-14.28 / 16.63
=

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))
=(0.665 / (0.665 + 7.934)) / (0.656 / (0.656 + 7.766))
=0.077335 / 0.077891
=

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 / -14.28) / (2.559 / 16.63)
= / 0.153879
=

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 + 15.888) / 210.962) / ((0 + 15.738) / 234.797)
=0.075312 / 0.067028
=

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
=(-17.872 - 0 - -6.212) / 210.962
=-0.055271

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Daulat Securities (BOM:530171) has a Beneish M-Score of 0.00 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daulat Securities and its competitors. According to the industry distribution chart, Daulat Securities ranks #999999 out of 704 companies in the Capital Markets industry.
Is Daulat Securities' Beneish M-Score too high?
Daulat Securities' current Beneish M-Score is 0.00. Based on the distribution chart, Daulat Securities ranks #999999 out of 704 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Daulat Securities has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Daulat Securities' Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Daulat Securities ranks #999999 out of 704 companies for Beneish M-Score. This places Daulat Securities 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Daulat Securities and its competitors. Daulat Securities's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daulat Securities stock overvalued right now?
Based on GuruFocus' analysis, Daulat Securities (BOM:530171) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹0.51, compared to a current price of ₹29.00 — trading 5586.3% above its estimated fair value. The current Beneish M-Score is 0.00. Daulat Securities' overall GF Score™ is 46/100 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 Daulat Securities (BOM:530171), the current Beneish M-Score is 0.00 as of Jul. 12, 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 Daulat Securities (BOM:530171) Overvalued in 2026?

Based on GuruFocus' analysis, Daulat Securities stock appears to be overvalued. The current stock price of ₹29.00 is trading 5586.3% above its estimated GF Value™ of ₹0.51. GuruFocus considers Daulat Securities to be Significantly Overvalued.

Key valuation signals for BOM:530171:

  • Beneish M-Score: 0.00
  • GF Value™: ₹0.51 vs. price of ₹29.00 (5586.3% above fair value)
  • GF Score™: 46/100 with 1 warning sign

No single metric tells the full story. See the BOM:530171 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Daulat Securities Business Description

Address 14A Earle Street, 1st Floor, PS Park Origin, Kolkata, WB, IND, 700026
Daulat Securities Ltd is engaged in stock broking operations and Depository Participant. It deals in the buying, selling, trading, and transferring of financial instruments.
46GF Score

Get the complete analysis for BOM:530171

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

₹29.00
Price
₹0.51
GF Value