RattanIndia PowerBOM:533122 -0.76%60 Beneish M-Score is -2.20 as of Jul. 04, 2026. GuruFocus rates BOM:533122 with a GF Score™ of 60/100 and a GF Value™ of ₹9.54 (Fairly Valued). The stock has 9 warning signs investors should review. Among 391 Utilities - Independent Power Producers companies, RattanIndia Power ranks worse than 73.15% 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 -2.2 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for RattanIndia Power's Beneish M-Score or its related term are showing as below:
BOM:533122'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.63 Med: -2.63 Max: 2.67
Current: -2.2
During the past 13 years, the highest Beneish M-Score of RattanIndia Power was 2.67. The lowest was -3.63. And the median was -2.63.
RattanIndia Power Beneish M-Score Related Terms
RattanIndia Power Beneish M-Score Historical Data
* Premium members only.
The historical data trend for RattanIndia Power'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.
BOM:533122 vs CEG, VST, NRG: Beneish M-Score Comparison
For the Utilities - Independent Power Producers subindustry, RattanIndia Power'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.
RattanIndia Power Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, RattanIndia Power's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where RattanIndia Power'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 RattanIndia Power 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 * 1.2428
+
0.528 * 1.1539
+
0.404 * 0.9703
+
0.892 * 0.9109
+
0.115 * 0.9486
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * -0.033261
-
0.327 * 0.8337
=
-2.20
* 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))
=
(2407.3 / (2407.3 + 63220.9))
/
(2463.1 / (2463.1 + 61232.7))
=
0.036681
/
0.03867
=
0.9486
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
=
(524.4 - 0
-
3721.8)
/
96129.3
=
-0.033261
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.
RattanIndia Power has a M-score of -2.20 suggests that the company is unlikely to be a manipulator.
RattanIndia Power (BOM:533122) has a Beneish M-Score of -2.20 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on RattanIndia Power and its competitors. According to the industry distribution chart, RattanIndia Power ranks #286 out of 391 companies in the Utilities - Independent Power Producers industry, placing it in the top 73.1%.
Is RattanIndia Power's Beneish M-Score too high?
RattanIndia Power's current Beneish M-Score is -2.20. Based on the distribution chart, RattanIndia Power ranks #286 out of 391 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, RattanIndia Power has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does RattanIndia Power's Beneish M-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, RattanIndia Power ranks #286 out of 391 companies for Beneish M-Score. This places RattanIndia Power 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 RattanIndia Power and its competitors. RattanIndia Power's current Beneish M-Score is -2.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RattanIndia Power stock overvalued right now?
Based on GuruFocus' analysis, RattanIndia Power (BOM:533122) is currently considered Fairly Valued. The stock's GF Value™ is ₹9.54, compared to a current price of ₹9.15 — trading 4.1% below its estimated fair value. The current Beneish M-Score is -2.20. RattanIndia Power's overall GF Score™ is 60/100 with 9 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 RattanIndia Power (BOM:533122), the current Beneish M-Score is -2.20 as of Jul. 04, 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 RattanIndia Power (BOM:533122) Overvalued in 2026?
Based on GuruFocus' analysis, RattanIndia Power stock appears to be undervalued.
The current stock price of ₹9.15 is trading 4.1% below its estimated GF Value™ of ₹9.54.
GuruFocus considers RattanIndia Power to be Fairly Valued.
Key valuation signals for BOM:533122:
Beneish M-Score: -2.20
GF Value™: ₹9.54 vs. price of ₹9.15 (4.1% below fair value)
No single metric tells the full story. See the BOM:533122 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
RattanIndia Power Ltd is engaged in thermal power generation, operating coal-based power plants with a total installed capacity of 2,700 MW across Amravati and Nashik in Maharashtra. The company generates revenue majorly through the sale of electricity to state utilities and other power off-takers. It manages large-scale thermal power projects and supporting infrastructure, including residential townships for personnel. RattanIndia focuses on efficient power generation operations while navigating the challenges of coal supply and long-term power purchase agreements. The company has gradually exited solar energy ventures to concentrate on its core thermal power business.
60GF Score
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