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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.
Warning Sign:
Beneish M-Score -1.54 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Tyche Industries's Beneish M-Score or its related term are showing as below:
BOM:532384'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.51 Med: -2.25 Max: -1.4
Current: -1.54
During the past 13 years, the highest Beneish M-Score of Tyche Industries was -1.40. The lowest was -3.51. And the median was -2.25.
The historical data trend for Tyche Industries'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 Drug Manufacturers - Specialty & Generic subindustry, Tyche Industries'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.
Tyche Industries Beneish M-Score vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Tyche Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tyche Industries'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 Tyche Industries 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 * 1.1583
+
0.528 * 1.1292
+
0.404 * 2.1489
+
0.892 * 0.8192
+
0.115 * 1.1139
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.02758
-
0.327 * 0.6784
=
-1.54
* 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))
=
(19.872 / (19.872 + 166.367))
/
(20.004 / (20.004 + 188.826))
=
0.106702
/
0.095791
=
1.1139
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
=
(69.371 - 0
-
28.541)
/
1480.432
=
0.02758
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.
Tyche Industries has a M-score of -1.54 signals that the company is likely to be a manipulator.
Tyche Industries (BOM:532384) has a Beneish M-Score of -1.54 as of Aug. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tyche Industries and its competitors. According to the industry distribution chart, Tyche Industries ranks #791 out of 914 companies in the Drug Manufacturers industry, placing it in the top 86.5%.
Is Tyche Industries' Beneish M-Score too high?
Tyche Industries' current Beneish M-Score is -1.54. Based on the distribution chart, Tyche Industries ranks #791 out of 914 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Tyche Industries has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tyche Industries' Beneish M-Score compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Tyche Industries ranks #791 out of 914 companies for Beneish M-Score. This places Tyche Industries 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 Drug Manufacturers company?
A good Beneish M-Score depends on the Drug Manufacturers 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 Tyche Industries and its competitors. Tyche Industries's current Beneish M-Score is -1.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tyche Industries stock overvalued right now?
Based on GuruFocus' analysis, Tyche Industries (BOM:532384) is currently considered Fairly Valued. The stock's GF Value™ is ₹108.23, compared to a current price of ₹106.85 — trading 1.3% below its estimated fair value. The current Beneish M-Score is -1.54. Tyche Industries' overall GF Score™ is 72/100 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 Tyche Industries (BOM:532384), the current Beneish M-Score is -1.54 as of Aug. 25, 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 Tyche Industries (BOM:532384) Overvalued in 2026?
Based on GuruFocus' analysis, Tyche Industries stock appears to be undervalued.
The current stock price of ₹106.85 is trading 1.3% below its estimated GF Value™ of ₹108.23.
GuruFocus considers Tyche Industries to be Fairly Valued.
Key valuation signals for BOM:532384:
Beneish M-Score: -1.54
GF Value™: ₹108.23 vs. price of ₹106.85 (1.3% below fair value)
No single metric tells the full story. See the BOM:532384 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tyche Industries Ltd is an India-based pharmaceutical company. It is engaged in the manufacturing of bulk drug intermediates. Geographically, it derives a majority of its revenue from the Export business. The company is a manufacturer in India of Glucosamine Hydrochloride and corresponding sodium and potassium salts which are mainly exported to the USA and Europe. Its business areas include API, Intermediates, Chiral Intermediates, Nutraceuticals, and CDMO. It operates in a single segment namely the manufacture of bulk drugs intermediates.
72GF Score
Get the complete analysis for BOM:532384
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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