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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 -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Shilchar Technologies's Beneish M-Score or its related term are showing as below:
BOM:531201'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.87 Med: -2.22 Max: -0.17
Current: -2.87
During the past 13 years, the highest Beneish M-Score of Shilchar Technologies was -0.17. The lowest was -2.87. And the median was -2.22.
Shilchar Technologies Beneish M-Score Related Terms
Shilchar Technologies Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Shilchar Technologies'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.
For the Electrical Equipment & Parts subindustry, Shilchar Technologies'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.
Shilchar Technologies Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Shilchar Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shilchar Technologies's Beneish M-Score falls into.
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 Shilchar Technologies 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 * 0.6489
+
0.528 * 0.9884
+
0.404 * 0.9507
+
0.892 * 1.0462
+
0.115 * 1.102
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8332
+
4.679 * -0.057339
-
0.327 * 0.5651
=
-2.87
* 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.
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.
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))
=
(34.059 / (34.059 + 603.153))
/
(40.228 / (40.228 + 789.168))
=
0.05345
/
0.048503
=
1.102
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
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
=
(1581.611 - 0
-
1920.204)
/
5905.141
=
-0.057339
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.
Shilchar Technologies has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.
Shilchar Technologies (BOM:531201) has a Beneish M-Score of -2.87 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shilchar Technologies and its competitors. According to the industry distribution chart, Shilchar Technologies ranks #515 out of 2909 companies in the Industrial Products industry, placing it in the top 17.7%.
Is Shilchar Technologies' Beneish M-Score too high?
Shilchar Technologies' current Beneish M-Score is -2.87. Based on the distribution chart, Shilchar Technologies ranks #515 out of 2909 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Shilchar Technologies has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shilchar Technologies' Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Shilchar Technologies ranks #515 out of 2909 companies for Beneish M-Score. This places Shilchar Technologies in the top 18% of its industry — outperforming the majority of peers. 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Shilchar Technologies and its competitors. Shilchar Technologies's current Beneish M-Score is -2.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shilchar Technologies stock overvalued right now?
Based on GuruFocus' analysis, Shilchar Technologies (BOM:531201) is currently considered Fairly Valued. The stock's GF Value™ is ₹4,736.26, compared to a current price of ₹4,487.40 — trading 5.3% below its estimated fair value. The current Beneish M-Score is -2.87. Shilchar Technologies' overall GF Score™ is 90/100 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 Shilchar Technologies (BOM:531201), the current Beneish M-Score is -2.87 as of Jul. 20, 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 Shilchar Technologies (BOM:531201) Overvalued in 2026?
Based on GuruFocus' analysis, Shilchar Technologies stock appears to be undervalued.
The current stock price of ₹4,487.40 is trading 5.3% below its estimated GF Value™ of ₹4,736.26.
GuruFocus considers Shilchar Technologies to be Fairly Valued.
Key valuation signals for BOM:531201:
Beneish M-Score: -2.87
GF Value™: ₹4,736.26 vs. price of ₹4,487.40 (5.3% below fair value)
No single metric tells the full story. See the BOM:531201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shilchar Technologies Ltd manufactures and sells transformers in India. It provides power and distribution transformers; linear transformers, including R core transformers, EI transformers, toroidal transformers, and energy meter CTs; telecom and data transformers; and standard line transformers. The activities of the Company relate to only one segment which is Transformers & Parts. It serves government utilities, private utilities, EPC contractors, and power plant developers and contractors; and pharmaceutical and chemical, oil and gas, engineering, cement, healthcare, food and beverage, glass and automotive, textile and ceramics.. Geographically, the group has a business presence in India and other countries, of which a majority of revenue is derived from India.
90GF Score
Get the complete analysis for BOM:531201
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