Quest Flow Controls (BOM:543982) Beneish M-Score: -1.98 (As of Aug. 16, 2026)

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BOM:543982 Quest Flow Controls Ltd BOM:543982
59 GF Score
Price ₹191.00
GF Value ₹465.64
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Quest Flow Controls Beneish M-Score?

Quest Flow Controls BOM:543982 -0.52% 59 Beneish M-Score is -1.98 as of Aug. 16, 2026. GuruFocus rates BOM:543982 with a GF Score™ of 59/100 and a GF Value™ of ₹465.64 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,906 Industrial Products companies, Quest Flow Controls ranks worse than 78.84% 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.

Good Sign:

Beneish M-Score -1.98 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:543982' s Beneish M-Score Range Over the Past 10 Years
Min: -1.98   Med: 0.81   Max: 1.83
Current: -1.98

During the past 6 years, the highest Beneish M-Score of Quest Flow Controls was 1.83. The lowest was -1.98. And the median was 0.81.


Quest Flow Controls Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Quest Flow Controls'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.

Quest Flow Controls Beneish M-Score Chart

Quest Flow Controls Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 1.83 -0.08 1.69 -1.98

Quest Flow Controls Semi-Annual Data
Mar21 Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -0.08 0.00 1.69 0.00 -1.98

BOM:543982 vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Quest Flow Controls'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.


Quest Flow Controls Beneish M-Score vs Industrial Products Industry

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

* The bar in red indicates where Quest Flow Controls's Beneish M-Score falls into.


BOM:543982
59GF Score
Quest Flow Controls Ltd BOM:543982
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Quest Flow Controls 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 Quest Flow Controls 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 * 1.3234+0.528 * 1.0054+0.404 * 0.8972+0.892 * 0.9278+0.115 * 0.8635
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.030224-0.327 * 0.9666
=-1.98

* 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 ₹587.3 Mil.
Revenue was ₹623.6 Mil.
Gross Profit was ₹235.0 Mil.
Total Current Assets was ₹886.0 Mil.
Total Assets was ₹1,242.1 Mil.
Property, Plant and Equipment(Net PPE) was ₹213.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹48.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹376.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₹51.5 Mil.
Net Income was ₹-42.8 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-80.4 Mil.
Total Receivables was ₹478.3 Mil.
Revenue was ₹672.1 Mil.
Gross Profit was ₹254.7 Mil.
Total Current Assets was ₹734.9 Mil.
Total Assets was ₹1,050.1 Mil.
Property, Plant and Equipment(Net PPE) was ₹180.7 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹34.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹27.8 Mil.
Total Current Liabilities was ₹181.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹193.5 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)
=(587.262 / 623.626) / (478.275 / 672.124)
=0.941689 / 0.711587
=1.3234

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)
=(254.679 / 672.124) / (235.034 / 623.626)
=0.378917 / 0.376883
=1.0054

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 - (885.999 + 213.451) / 1242.144) / (1 - (734.926 + 180.701) / 1050.082)
=0.114877 / 0.128042
=0.8972

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
=623.626 / 672.124
=0.9278

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))
=(34.426 / (34.426 + 180.701)) / (48.558 / (48.558 + 213.451))
=0.160026 / 0.18533
=0.8635

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 / 623.626) / (27.82 / 672.124)
=0 / 0.041391
=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)
=((51.464 + 376.749) / 1242.144) / ((193.519 + 181.005) / 1050.082)
=0.344737 / 0.356662
=0.9666

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
=(-42.823 - 0 - -80.365) / 1242.144
=0.030224

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.

Quest Flow Controls has a M-score of -1.98 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 -1.98 mean?
Quest Flow Controls (BOM:543982) has a Beneish M-Score of -1.98 as of Aug. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Quest Flow Controls and its competitors. According to the industry distribution chart, Quest Flow Controls ranks #2291 out of 2906 companies in the Industrial Products industry, placing it in the top 78.8%.
Is Quest Flow Controls' Beneish M-Score too high?
Quest Flow Controls' current Beneish M-Score is -1.98. Based on the distribution chart, Quest Flow Controls ranks #2291 out of 2906 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Quest Flow Controls has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Quest Flow Controls' Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Quest Flow Controls ranks #2291 out of 2906 companies for Beneish M-Score. This places Quest Flow Controls 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 Quest Flow Controls and its competitors. Quest Flow Controls's current Beneish M-Score is -1.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Quest Flow Controls stock overvalued right now?
Based on GuruFocus' analysis, Quest Flow Controls (BOM:543982) is currently considered Possible Value Trap. The stock's GF Value™ is ₹465.64, compared to a current price of ₹191.00 — trading 59% below its estimated fair value. The current Beneish M-Score is -1.98. Quest Flow Controls' overall GF Score™ is 59/100 with 5 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 Quest Flow Controls (BOM:543982), the current Beneish M-Score is -1.98 as of Aug. 16, 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 Quest Flow Controls (BOM:543982) Overvalued in 2026?

Based on GuruFocus' analysis, Quest Flow Controls stock appears to be undervalued. The current stock price of ₹191.00 is trading 59% below its estimated GF Value™ of ₹465.64. GuruFocus considers Quest Flow Controls to be Possible Value Trap.

Key valuation signals for BOM:543982:

  • Beneish M-Score: -1.98
  • GF Value™: ₹465.64 vs. price of ₹191.00 (59% below fair value)
  • GF Score™: 59/100 with 5 warning signs

No single metric tells the full story. See the BOM:543982 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Quest Flow Controls Business Description

Address Plot No. L-45, First Floor, Software Technology Park, Verna Industrial Estate, Salcete, Verna, Goa, GA, IND, 403722
Quest Flow Controls Ltd is a company engaged in the business of assembling, buying, selling, distributing, importing, exporting, or otherwise dealing in products like valves, actuators, remote control systems, control cabinets, tanks, visualization systems, piping, pumps, fittings, gaskets, flanges, and measurement devices. It supplies mainly to the Naval, Oil, and Gas industries, Power, Refineries, and General Industries, both in domestic and international markets. The Company operates in a single primary business segment, namely, the Manufacturing of Valves.
59GF Score

Get the complete analysis for BOM:543982

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

₹191.00
Price
₹465.64
GF Value