Patron Exim (BOM:543798) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


BOM:543798 Patron Exim Ltd BOM:543798
60 GF Score
Price ₹2.19
GF Value ₹25.61
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Patron Exim Beneish M-Score?

Patron Exim BOM:543798 -4.78% 60 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates BOM:543798 with a GF Score™ of 60/100 and a GF Value™ of ₹25.61 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,530 Chemicals companies, Patron Exim ranks worse than 65359.41% 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 Patron Exim's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Patron Exim was 0.00. The lowest was 0.00. And the median was 0.00.

Patron Exim Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Patron Exim'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.

Patron Exim Beneish M-Score Chart

Patron Exim Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Patron Exim Semi-Annual Data
Mar20 Mar21 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 0.00 0.00 0.00 0.00 0.00

BOM:543798 vs DOW: Beneish M-Score Comparison

For the Chemicals subindustry, Patron Exim'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.

Patron Exim Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Patron Exim's Beneish M-Score distribution charts can be found below:

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


BOM:543798
60GF Score
Patron Exim Ltd BOM:543798
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Patron Exim 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 Patron Exim 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 ₹329.9 Mil.
Revenue was ₹242.1 Mil.
Gross Profit was ₹-8.8 Mil.
Total Current Assets was ₹486.6 Mil.
Total Assets was ₹487.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.4 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹105.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 Mil.
Net Income was ₹-10.9 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-20.1 Mil.
 Total Receivables was ₹227.2 Mil.
Revenue was ₹243.6 Mil.
Gross Profit was ₹38.1 Mil.
Total Current Assets was ₹442.5 Mil.
Total Assets was ₹442.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹37.6 Mil.
Total Current Liabilities was ₹50.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 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)
=(329.86 / 242.085) / (227.179 / 243.642)
=1.362579 / 0.93243
=

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)
=(38.061 / 243.642) / (-8.795 / 242.085)
=0.156217 / -0.03633
=

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 - (486.639 + 0.397) / 487.036) / (1 - (442.461 + 0.057) / 442.518)
=0 / -0
=

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
=242.085 / 243.642
=

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))
=(0.032 / (0.032 + 0.057)) / (0.032 / (0.032 + 0.397))
=0.359551 / 0.074592
=

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 / 242.085) / (37.577 / 243.642)
=0 / 0.15423
=

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 + 105.854) / 487.036) / ((0 + 50.44) / 442.518)
=0.217343 / 0.113984
=

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
=(-10.896 - 0 - -20.125) / 487.036
=0.018949

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?
Patron Exim (BOM:543798) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Patron Exim and its competitors. According to the industry distribution chart, Patron Exim ranks #999999 out of 1530 companies in the Chemicals industry.
Is Patron Exim's Beneish M-Score too high?
Patron Exim's current Beneish M-Score is 0.00. Based on the distribution chart, Patron Exim ranks #999999 out of 1530 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Patron Exim has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Patron Exim's Beneish M-Score compare to DOW?
According to the Chemicals industry distribution chart, Patron Exim ranks #999999 out of 1530 companies for Beneish M-Score. This places Patron Exim 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Patron Exim and its competitors. Patron Exim'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 Patron Exim stock overvalued right now?
Based on GuruFocus' analysis, Patron Exim (BOM:543798) is currently considered Possible Value Trap. The stock's GF Value™ is ₹25.61, compared to a current price of ₹2.19 — trading 91.4% below its estimated fair value. The current Beneish M-Score is 0.00. Patron Exim's overall GF Score™ is 60/100 with 6 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 Patron Exim (BOM:543798), the current Beneish M-Score is 0.00 as of Jun. 27, 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 Patron Exim (BOM:543798) Overvalued in 2026?

Based on GuruFocus' analysis, Patron Exim stock appears to be undervalued. The current stock price of ₹2.19 is trading 91.4% below its estimated GF Value™ of ₹25.61. GuruFocus considers Patron Exim to be Possible Value Trap.

Key valuation signals for BOM:543798:

  • Beneish M-Score: 0.00
  • GF Value™: ₹25.61 vs. price of ₹2.19 (91.4% below fair value)
  • GF Score™: 60/100 with 6 warning signs

No single metric tells the full story. See the BOM:543798 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Patron Exim Business Description

Address Science City Road, A-1106, Empire Business Hub, Sola, Ahmedabad, GJ, IND, 380060
Patron Exim Ltd is engaged in the trading and distribution of pharmaceutical raw material, which is also known as APIs (Active Pharmaceutical Ingredients), industrial, excipient and solvents. Its product portfolio comprises of around 150 AIPs, Excipient, Pharma Chemical & Intermediates. It is also in the trading of a variety of chemicals, such as Petrochemicals, Dyes & Pigment Chemicals, Paints & Speciality Chemical, Agro Chemicals, Oil & Refinery Chemicals, Foam & Adhesive, Plywood & Laminates Chemical. The Chemicals also include food industry & water treatment chemicals, resins & plastics chemicals, polymers and additives etc. The Company is mainly dealing in Pharmaceutical Business i.e. trading of pharma products and commission agent in pharma products etc.
60GF Score

Get the complete analysis for BOM:543798

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

₹2.19
Price
₹25.61
GF Value