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Dhatre UdyogBOM:540080 +0.98%37 Beneish M-Score is 10.91 as of Aug. 03, 2026, which is 595% above its 10-year median of 1.57. GuruFocus rates BOM:540080 with a GF Score™ of 37/100 and a GF Value™ of ₹0.62 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 588 Steel companies, Dhatre Udyog ranks worse than 97.79% 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.
Warning Sign:
Beneish M-Score 10.91 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Dhatre Udyog's Beneish M-Score or its related term are showing as below:
BOM:540080'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.74 Med: 1.57 Max: 10.91
Current: 10.91
During the past 13 years, the highest Beneish M-Score of Dhatre Udyog was 10.91. The lowest was -2.74. And the median was 1.57.
The historical data trend for Dhatre Udyog'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:540080 vs NUE, STLD, RS: Beneish M-Score Comparison
For the Steel subindustry, Dhatre Udyog'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.
Dhatre Udyog Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Dhatre Udyog's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dhatre Udyog'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 Dhatre Udyog 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 * 15.7243
+
0.528 * 3.1242
+
0.404 * 1.3302
+
0.892 * 0.0632
+
0.115 * 3.2332
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * -0.21951
-
0.327 * 0.9223
=
10.91
* 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))
=
(5.482 / (5.482 + 48.465))
/
(0.817 / (0.817 + 25.177))
=
0.101618
/
0.03143
=
3.2332
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
=
(-18.209 - 0
-
89.285)
/
489.7
=
-0.21951
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.
Dhatre Udyog has a M-score of 10.91 signals that the company is likely to be a manipulator.
Dhatre Udyog (BOM:540080) has a Beneish M-Score of 10.91 as of Aug. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dhatre Udyog and its competitors. This is 595% above median its historical median of 1.57. According to the industry distribution chart, Dhatre Udyog ranks #575 out of 588 companies in the Steel industry, placing it in the top 97.8%.
Is Dhatre Udyog's Beneish M-Score too high?
Dhatre Udyog's current Beneish M-Score of 10.91 is 595% above median its 10-year median of 1.57. Based on the distribution chart, Dhatre Udyog ranks #575 out of 588 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Dhatre Udyog has a GF Score™ of 37/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dhatre Udyog's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Dhatre Udyog ranks #575 out of 588 companies for Beneish M-Score. This places Dhatre Udyog 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Dhatre Udyog and its competitors. Dhatre Udyog's current Beneish M-Score is 10.91, which is 595% above median its own 10-year median of 1.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dhatre Udyog stock overvalued right now?
Based on GuruFocus' analysis, Dhatre Udyog (BOM:540080) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹0.62, compared to a current price of ₹4.14 — trading 567.7% above its estimated fair value. The current Beneish M-Score is 10.91, which is 595% above median its 10-year median of 1.57. Dhatre Udyog's 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 Dhatre Udyog (BOM:540080), the current Beneish M-Score is 10.91 as of Aug. 03, 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 Dhatre Udyog (BOM:540080) Overvalued in 2026?
Based on GuruFocus' analysis, Dhatre Udyog stock appears to be overvalued.
The current stock price of ₹4.14 is trading 567.7% above its estimated GF Value™ of ₹0.62.
GuruFocus considers Dhatre Udyog to be Significantly Overvalued.
Key valuation signals for BOM:540080:
Beneish M-Score: 10.91 (595% above median its 10-year median of 1.57)
GF Value™: ₹0.62 vs. price of ₹4.14 (567.7% above fair value)
No single metric tells the full story. See the BOM:540080 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dhatre Udyog Ltd is engaged in the manufacturing and trading of iron and steel products in India. The company's products include TMT bars, Rounds, Squares, Angles, etc (including conversion on a job-work basis) and trading of Billets, Blooms, Ingots, Iron ores, etc. The company generates the majority of its revenue from the sale of manufactured goods, followed by Traded/Finished goods. All revenue from the operations of the company is generated within India.
37GF Score
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