Kabra Commercial (BOM:539393) Beneish M-Score: -1.84 (As of Jul. 02, 2026)

What is Kabra Commercial Beneish M-Score?

Kabra Commercial BOM:539393 11 Beneish M-Score is -1.84 as of Jul. 02, 2026. GuruFocus rates BOM:539393 with a GF Score™ of 11/100 and a GF Value™ of ₹25.13. The stock has 7 warning signs investors should review.

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 -1.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Kabra Commercial's Beneish M-Score or its related term are showing as below:

BOM:539393' s Beneish M-Score Range Over the Past 10 Years
Min: -2.75 Med: -1.57 Max: 3.36
Current: -1.84

During the past 12 years, the highest Beneish M-Score of Kabra Commercial was 3.36. The lowest was -2.75. And the median was -1.57.

Kabra Commercial Beneish M-Score Related Terms

Kabra Commercial Beneish M-Score Historical Data

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The historical data trend for Kabra Commercial'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.

Kabra Commercial Beneish M-Score Chart

Kabra Commercial Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.75

-2.39

3.36

2.88

-1.84

Kabra Commercial Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															2.88	0.00	0.00	0.00	-1.84

BOM:539393 vs KIRY: Beneish M-Score Comparison

For the Thermal Coal subindustry, Kabra Commercial'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.

Kabra Commercial Beneish M-Score vs Other Energy Sources Industry

For the Other Energy Sources industry and Energy sector, Kabra Commercial's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kabra Commercial's Beneish M-Score falls into.

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Kabra Commercial Ltd BOM:539393

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Kabra Commercial 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 Kabra Commercial for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.6351

0.528 * 1.2352

0.404 * 1.208

0.892 * 0.5602

0.115 * 1.3052

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.004772

0.327 * 0.9551

-1.84

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹42.2 Mil.
Revenue was ₹133.5 Mil.
Gross Profit was ₹18.2 Mil.
Total Current Assets was ₹141.4 Mil.
Total Assets was ₹365.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹4.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹136.5 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3.2 Mil.
Net Income was ₹0.3 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-1.5 Mil.

Total Receivables was ₹46.1 Mil.
Revenue was ₹238.3 Mil.
Gross Profit was ₹40.0 Mil.
Total Current Assets was ₹187.5 Mil.
Total Assets was ₹382.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹4.7 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.6 Mil.
Total Current Liabilities was ₹153.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.2 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)
	=	(42.21 / 133.51)	/	(46.085 / 238.343)
	=	0.316156	/	0.193356
	=	1.6351

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)
	=	(40.025 / 238.343)	/	(18.151 / 133.51)
	=	0.16793	/	0.135952
	=	1.2352

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 - (141.396 + 4.067) / 365.273)	/	(1 - (187.492 + 4.67) / 382.915)
	=	0.601769	/	0.49816
	=	1.208

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
	=	133.51	/	238.343
	=	0.5602

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))
	=	(0.006 / (0.006 + 4.67))	/	(0.004 / (0.004 + 4.067))
	=	0.001283	/	0.000983
	=	1.3052

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 / 133.51)	/	(0.602 / 238.343)
	=	0	/	0.002526
	=	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)
	=	((3.203 + 136.522) / 365.273)	/	((0.162 + 153.195) / 382.915)
	=	0.382522	/	0.400499
	=	0.9551

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
	=	(0.292 - 0	-	-1.451)	/	365.273
	=	0.004772

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.

Kabra Commercial has a M-score of -1.84 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -1.84 mean?

Kabra Commercial (BOM:539393) has a Beneish M-Score of -1.84 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kabra Commercial and its competitors.

Is Kabra Commercial's Beneish M-Score too high?

Kabra Commercial's current Beneish M-Score is -1.84. Overall, Kabra Commercial has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.

How does Kabra Commercial's Beneish M-Score compare to KIRY?

Kabra Commercial's Beneish M-Score of -1.84 can be compared against companies in the Other Energy Sources 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 Other Energy Sources company?

A good Beneish M-Score depends on the Other Energy Sources 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 Kabra Commercial and its competitors. Kabra Commercial's current Beneish M-Score is -1.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Kabra Commercial stock overvalued right now?

Kabra Commercial (BOM:539393) has a current Beneish M-Score of -1.84. The stock's GF Value™ is ₹25.13, compared to a current price of ₹25.77 — trading 2.5% above its estimated fair value. The current Beneish M-Score is -1.84. Kabra Commercial's overall GF Score™ is 11/100 with 7 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 Kabra Commercial (BOM:539393), the current Beneish M-Score is -1.84 as of Jul. 02, 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 Kabra Commercial (BOM:539393) Overvalued in 2026?

Based on GuruFocus' analysis, Kabra Commercial stock appears to be overvalued. The current stock price of ₹25.77 is trading 2.5% above its estimated GF Value™ of ₹25.13.

Key valuation signals for BOM:539393:

Beneish M-Score: -1.84
GF Value™: ₹25.13 vs. price of ₹25.77 (2.5% above fair value)
GF Score™: 11/100 with 7 warning signs

No single metric tells the full story. See the BOM:539393 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Kabra Commercial Business Description

Industry Energy Other Energy Sources

Comparable Companies TSXV:SML BOM:531396 KIRY LSE:NCCL

Address 2, Brabourne Road, Govind Bhawan, 4th Floor, Kolkata, WB, IND, 700001

Website https://www.kcl.net.in

Kabra Commercial Ltd is an Indian based company engaged in the business of trading, importing, handling, and supervising of coal and coke. The company's principal segment consists of Transportation Charges and Investment & Finance. The company generates the majority of its revenue from Coal/Coke, Trading, Transportation & Service/Comm. Geographically, the company operates in India only.

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

₹25.77

Price

₹25.13

GF Value

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