Captain Technocast (BOM:540652) Beneish M-Score: -1.57 (As of Jul. 10, 2026)

What is Captain Technocast Beneish M-Score?

Captain Technocast BOM:540652 83 Beneish M-Score is -1.57 as of Jul. 10, 2026. GuruFocus rates BOM:540652 with a GF Score™ of 83/100 and a GF Value™ of ₹224.38 (Fairly Valued). The stock has 4 warning signs investors should review. Among 2,914 Industrial Products companies, Captain Technocast ranks worse than 87.71% 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.

Warning Sign:

Beneish M-Score -1.57 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:540652' s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -1.9 Max: -0.54
Current: -1.57

During the past 13 years, the highest Beneish M-Score of Captain Technocast was -0.54. The lowest was -3.00. And the median was -1.90.

Captain Technocast Beneish M-Score Related Terms

Captain Technocast Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Captain Technocast'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.

Captain Technocast Beneish M-Score Chart

Captain Technocast Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-0.66

-1.87

-3.00

-2.12

-1.57

Captain Technocast Semi-Annual Data
	Mar16	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															-3.00	0.00	-2.12	0.00	-1.57

BOM:540652 vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, Captain Technocast'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.

Captain Technocast Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Captain Technocast's Beneish M-Score distribution charts can be found below:

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

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83GF Score

Captain Technocast Ltd BOM:540652

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

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Captain Technocast 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 Captain Technocast 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 * 1.3099

0.528 * 1.1406

0.404 * 0.8346

0.892 * 1.4092

0.115 * 0.9505

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.035352

0.327 * 1.2557

-1.57

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹316 Mil.
Revenue was ₹1,299 Mil.
Gross Profit was ₹562 Mil.
Total Current Assets was ₹462 Mil.
Total Assets was ₹957 Mil.
Property, Plant and Equipment(Net PPE) was ₹337 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹26 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹284 Mil.
Long-Term Debt & Capital Lease Obligation was ₹123 Mil.
Net Income was ₹116 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹82 Mil.

Total Receivables was ₹171 Mil.
Revenue was ₹922 Mil.
Gross Profit was ₹455 Mil.
Total Current Assets was ₹326 Mil.
Total Assets was ₹625 Mil.
Property, Plant and Equipment(Net PPE) was ₹175 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹13 Mil.
Selling, General, & Admin. Expense(SGA) was ₹28 Mil.
Total Current Liabilities was ₹205 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6 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)
	=	(316.017 / 1298.684)	/	(171.199 / 921.562)
	=	0.243336	/	0.18577
	=	1.3099

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)
	=	(454.522 / 921.562)	/	(561.557 / 1298.684)
	=	0.493208	/	0.432405
	=	1.1406

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 - (461.678 + 336.729) / 956.93)	/	(1 - (325.889 + 174.961) / 624.889)
	=	0.165658	/	0.198498
	=	0.8346

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
	=	1298.684	/	921.562
	=	1.4092

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))
	=	(12.968 / (12.968 + 174.961))	/	(26.359 / (26.359 + 336.729))
	=	0.069005	/	0.072597
	=	0.9505

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 / 1298.684)	/	(27.838 / 921.562)
	=	0	/	0.030207
	=	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)
	=	((123.027 + 283.627) / 956.93)	/	((6.288 + 205.18) / 624.889)
	=	0.424957	/	0.338409
	=	1.2557

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
	=	(116.227 - 0	-	82.398)	/	956.93
	=	0.035352

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.

Captain Technocast has a M-score of -1.57 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 -1.57 mean?

Captain Technocast (BOM:540652) has a Beneish M-Score of -1.57 as of Jul. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Captain Technocast and its competitors. According to the industry distribution chart, Captain Technocast ranks #2556 out of 2914 companies in the Industrial Products industry, placing it in the top 87.7%.

Is Captain Technocast's Beneish M-Score too high?

Captain Technocast's current Beneish M-Score is -1.57. Based on the distribution chart, Captain Technocast ranks #2556 out of 2914 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Captain Technocast has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Captain Technocast's Beneish M-Score compare to CRS and ATI?

According to the Industrial Products industry distribution chart, Captain Technocast ranks #2556 out of 2914 companies for Beneish M-Score. This places Captain Technocast 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 Industrial Products company?

A good Beneish M-Score depends on the Industrial Products 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 Captain Technocast and its competitors. Captain Technocast's current Beneish M-Score is -1.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Captain Technocast stock overvalued right now?

Based on GuruFocus' analysis, Captain Technocast (BOM:540652) is currently considered Fairly Valued. The stock's GF Value™ is ₹224.38, compared to a current price of ₹221.00 — trading 1.5% below its estimated fair value. The current Beneish M-Score is -1.57. Captain Technocast's overall GF Score™ is 83/100 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 Captain Technocast (BOM:540652), the current Beneish M-Score is -1.57 as of Jul. 10, 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 Captain Technocast (BOM:540652) Overvalued in 2026?

Based on GuruFocus' analysis, Captain Technocast stock appears to be undervalued. The current stock price of ₹221.00 is trading 1.5% below its estimated GF Value™ of ₹224.38. GuruFocus considers Captain Technocast to be Fairly Valued.

Key valuation signals for BOM:540652:

Beneish M-Score: -1.57
GF Value™: ₹224.38 vs. price of ₹221.00 (1.5% below fair value)
GF Score™: 83/100 with 4 warning signs

No single metric tells the full story. See the BOM:540652 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Captain Technocast Business Description

Industry Industrials Industrial Products

Comparable Companies BOM:505703 BOM:544023 BOM:517449 NSE:TIRUPATIFL BOM:513472 NSE:ATMASTCO BOM:504028 BOM:539479 BOM:543782 BOM:532932 CRS ATI MLI SHSE:688409 XTER:NDA CMC ESAB SHSE:603308 SZSE:000039 XBRU:VIO

Address National Highway Number 8-B, Plot Number 4, Survey Number 257, Shapar - Veraval, Rajkot, GJ, IND, 360024

Website https://www.captaintechnocast.com

Captain Technocast Ltd is engaged in the business of manufacturing metal casting products for various industries. The company's products include Industrial Valves Casting, Industrial Pumps Casting, Fire Fighting Equipments Casting, Engineering & Automobile Casting, Structural and Hardware, Dairy Equipment Casting, Power Plant and Boiler parts Casting, Aerospace Casting and Defence Casting. It operates in one segment which is manufacturing and selling of lnvestment Casting. Geographically, it operates only in India.

83GF Score

Get the complete analysis for BOM:540652

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

₹221.00

Price

₹224.38

GF Value

View BOM:540652 Analysis

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