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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 -2.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Arihant Foundations & Housing's Beneish M-Score or its related term are showing as below:
BOM:531381'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.38 Med: -1.97 Max: -0.29
Current: -2.03
During the past 13 years, the highest Beneish M-Score of Arihant Foundations & Housing was -0.29. The lowest was -4.38. And the median was -1.97.
* 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 Real Estate - Development subindustry, Arihant Foundations & Housing'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.
Arihant Foundations & Housing Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Arihant Foundations & Housing's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Arihant Foundations & Housing'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 Arihant Foundations & Housing 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 * 0.4457
+
0.528 * 1.4067
+
0.404 * 0.8379
+
0.892 * 2.036
+
0.115 * 0.324
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * -0.019326
-
0.327 * 1.371
=
-2.03
* 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))
=
(5.1 / (5.1 + 109.257))
/
(18.1 / (18.1 + 113.4))
=
0.044597
/
0.137643
=
0.324
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
=
(589.7 - 0
-
786.4)
/
10178.1
=
-0.019326
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.
Arihant Foundations & Housing has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.
Arihant Foundations & Housing (BOM:531381) has a Beneish M-Score of -2.03 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Arihant Foundations & Housing and its competitors. According to the industry distribution chart, Arihant Foundations & Housing ranks #1138 out of 1681 companies in the Real Estate industry, placing it in the top 67.7%.
Is Arihant Foundations & Housing's Beneish M-Score too high?
Arihant Foundations & Housing's current Beneish M-Score is -2.03. Based on the distribution chart, Arihant Foundations & Housing ranks #1138 out of 1681 companies in the Real Estate industry, which is below the industry midpoint. Overall, Arihant Foundations & Housing has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Arihant Foundations & Housing's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Arihant Foundations & Housing ranks #1138 out of 1681 companies for Beneish M-Score. This places Arihant Foundations & Housing 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 Arihant Foundations & Housing and its competitors. Arihant Foundations & Housing's current Beneish M-Score is -2.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arihant Foundations & Housing stock overvalued right now?
Based on GuruFocus' analysis, Arihant Foundations & Housing (BOM:531381) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,298.51, compared to a current price of ₹1,130.85 — trading 12.9% below its estimated fair value. The current Beneish M-Score is -2.03. Arihant Foundations & Housing's overall GF Score™ is 68/100 with 3 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 Arihant Foundations & Housing (BOM:531381), the current Beneish M-Score is -2.03 as of Aug. 09, 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 Arihant Foundations & Housing (BOM:531381) Overvalued in 2026?
Based on GuruFocus' analysis, Arihant Foundations & Housing stock appears to be undervalued.
The current stock price of ₹1,130.85 is trading 12.9% below its estimated GF Value™ of ₹1,298.51.
GuruFocus considers Arihant Foundations & Housing to be Modestly Undervalued.
Key valuation signals for BOM:531381:
Beneish M-Score: -2.03
GF Value™: ₹1,298.51 vs. price of ₹1,130.85 (12.9% below fair value)
No single metric tells the full story. See the BOM:531381 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arihant Foundations & Housing Ltd is engaged in the business of construction of residential, commercial complexes, and IT parks. It develops both residential and commercial real estate properties. Its portfolio comprises villas, apartments, IT parks, hotels, shopping malls, multiplexes, developed plots, and commercial buildings. The company serves a diverse range of clients from individual home buyers to commercial clients to Joint Ventures. The Company is mainly engaged in the business of real estate development and related activities, including construction, which constitutes its single reportable segment.
68GF Score
Get the complete analysis for BOM:531381
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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