Shanti Guru Industries (BOM:534708) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

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BOM:534708 Shanti Guru Industries Ltd BOM:534708
37 GF Score
Price ₹8.72
! 4 Warning Signs
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What is Shanti Guru Industries Beneish M-Score?

Shanti Guru Industries BOM:534708 -4.80% 37 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates BOM:534708 with a GF Score™ of 37/100. The stock has 4 warning signs investors should review. Among 294 Retail - Defensive companies, Shanti Guru Industries ranks worse than 340135.71% 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 Shanti Guru Industries's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Shanti Guru Industries was 3.59. The lowest was -2.17. And the median was -0.45.

Shanti Guru Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shanti Guru 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.

Shanti Guru Industries Beneish M-Score Chart

Shanti Guru Industries 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 0.00 0.00 0.00 0.00 0.00

Shanti Guru Industries Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.00 0.00 0.00 0.00 0.00

BOM:534708 vs SYY, USFD, PFGC: Beneish M-Score Comparison

For the Food Distribution subindustry, Shanti Guru 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.

Shanti Guru Industries Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Shanti Guru Industries's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Shanti Guru Industries's Beneish M-Score falls into.


BOM:534708
37GF Score
Shanti Guru Industries Ltd BOM:534708
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Shanti Guru Industries 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 Shanti Guru 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 * +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 ₹3.06 Mil.
Revenue was ₹2.26 Mil.
Gross Profit was ₹0.56 Mil.
Total Current Assets was ₹64.06 Mil.
Total Assets was ₹279.54 Mil.
Property, Plant and Equipment(Net PPE) was ₹14.69 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.04 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹4.42 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹112.32 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-21.19 Mil.
 Total Receivables was ₹1.57 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹0.00 Mil.
Total Current Assets was ₹26.04 Mil.
Total Assets was ₹146.99 Mil.
Property, Plant and Equipment(Net PPE) was ₹18.54 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.36 Mil.
Total Current Liabilities was ₹10.17 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)
=(3.055 / 2.264) / (1.57 / 0)
=1.349382 /
=

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)
=(0 / 0) / (0.563 / 2.264)
= / 0.248675
=

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 - (64.056 + 14.686) / 279.542) / (1 - (26.044 + 18.544) / 146.993)
=0.718318 / 0.696666
=

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
=2.264 / 0
=

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))
=(0.001 / (0.001 + 18.544)) / (0.037 / (0.037 + 14.686))
=5.4E-5 / 0.002513
=

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 / 2.264) / (0.36 / 0)
=0 /
=

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 + 4.42) / 279.542) / ((0 + 10.165) / 146.993)
=0.015812 / 0.069153
=

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
=(112.322 - 0 - -21.188) / 279.542
=0.477603

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?
Shanti Guru Industries (BOM:534708) has a Beneish M-Score of 0.00 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shanti Guru Industries and its competitors. According to the industry distribution chart, Shanti Guru Industries ranks #999999 out of 294 companies in the Retail - Defensive industry.
Is Shanti Guru Industries' Beneish M-Score too high?
Shanti Guru Industries' current Beneish M-Score is 0.00. Based on the distribution chart, Shanti Guru Industries ranks #999999 out of 294 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Shanti Guru Industries has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Shanti Guru Industries' Beneish M-Score compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Shanti Guru Industries ranks #999999 out of 294 companies for Beneish M-Score. This places Shanti Guru 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Shanti Guru Industries and its competitors. Shanti Guru Industries'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 Shanti Guru Industries stock overvalued right now?
Shanti Guru Industries (BOM:534708) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Shanti Guru Industries' overall GF Score™ is 37/100 with 4 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 Shanti Guru Industries (BOM:534708), the current Beneish M-Score is 0.00 as of Jul. 14, 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.

Shanti Guru Industries Business Description

Address 10B/2, No.109, Poonamallee High Road, Sapna Trade Centre, 10th Floor, Chennai, TN, IND, 600084
Shanti Guru Industries Ltd is engaged in the business of trading processed foods. The Company operates in retail trade and is currently engaged in the trading of food products, with its primary operating segment being the trading of all types of marketable goods. Its main objects include carrying on exclusive retail outlets of agro-based food products and fast-moving consumer goods (FMCG). In addition, the Company is in the process of establishing a manufacturing facility to produce food products, namely soya chunks and vermicelli.
37GF Score

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

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