Koura Fine Diamond Jewelry (BOM:544139) Beneish M-Score: 5.82 (As of Jul. 29, 2026) — 809% Above Median

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BOM:544139 Koura Fine Diamond Jewelry Ltd BOM:544139
14 GF Score
Price ₹32.20
! 2 Warning Signs
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What is Koura Fine Diamond Jewelry Beneish M-Score?

Koura Fine Diamond Jewelry BOM:544139 14 Beneish M-Score is 5.82 as of Jul. 29, 2026, which is 809% above its 10-year median of 0.64. GuruFocus rates BOM:544139 with a GF Score™ of 14/100. The stock has 2 warning signs investors should review. Among 1,086 Retail - Cyclical companies, Koura Fine Diamond Jewelry ranks worse than 98.43% 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 5.82 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Koura Fine Diamond Jewelry's Beneish M-Score or its related term are showing as below:

BOM:544139' s Beneish M-Score Range Over the Past 10 Years
Min: -4.55   Med: 0.64   Max: 5.82
Current: 5.82

During the past 4 years, the highest Beneish M-Score of Koura Fine Diamond Jewelry was 5.82. The lowest was -4.55. And the median was 0.64.

Koura Fine Diamond Jewelry Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Koura Fine Diamond Jewelry'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.

Koura Fine Diamond Jewelry Beneish M-Score Chart

Koura Fine Diamond Jewelry Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -4.55 5.82

Koura Fine Diamond Jewelry Semi-Annual Data
Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -4.55 0.00 5.82

BOM:544139 vs TPR: Beneish M-Score Comparison

For the Luxury Goods subindustry, Koura Fine Diamond Jewelry'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.

Koura Fine Diamond Jewelry Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Koura Fine Diamond Jewelry's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Koura Fine Diamond Jewelry's Beneish M-Score falls into.


BOM:544139
14GF Score
Koura Fine Diamond Jewelry Ltd BOM:544139
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Koura Fine Diamond Jewelry 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 Koura Fine Diamond Jewelry 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 * 5.0765+0.528 * 0.6774+0.404 * 0.9313+0.892 * 2.1874+0.115 * 0.7169
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.696565-0.327 * 0.1116
=5.82

* 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 ₹23.6 Mil.
Revenue was ₹917.9 Mil.
Gross Profit was ₹79.0 Mil.
Total Current Assets was ₹180.1 Mil.
Total Assets was ₹184.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹3.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹7.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 Mil.
Net Income was ₹7.6 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-120.9 Mil.
 Total Receivables was ₹2.1 Mil.
Revenue was ₹419.6 Mil.
Gross Profit was ₹24.5 Mil.
Total Current Assets was ₹133.2 Mil.
Total Assets was ₹138.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹4.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.8 Mil.
Total Current Liabilities was ₹51.3 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)
=(23.619 / 917.857) / (2.127 / 419.605)
=0.025733 / 0.005069
=5.0765

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)
=(24.48 / 419.605) / (79.048 / 917.857)
=0.058341 / 0.086122
=0.6774

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 - (180.07 + 3.467) / 184.405) / (1 - (133.184 + 4.813) / 138.698)
=0.004707 / 0.005054
=0.9313

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
=917.857 / 419.605
=2.1874

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))
=(1.207 / (1.207 + 4.813)) / (1.346 / (1.346 + 3.467))
=0.200498 / 0.279659
=0.7169

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 / 917.857) / (1.79 / 419.605)
=0 / 0.004266
=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)
=((0 + 7.613) / 184.405) / ((0 + 51.307) / 138.698)
=0.041284 / 0.369919
=0.1116

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
=(7.591 - 0 - -120.859) / 184.405
=0.696565

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.

Koura Fine Diamond Jewelry has a M-score of 5.82 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 5.82 mean?
Koura Fine Diamond Jewelry (BOM:544139) has a Beneish M-Score of 5.82 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Koura Fine Diamond Jewelry and its competitors. This is 809% above median its historical median of 0.64. According to the industry distribution chart, Koura Fine Diamond Jewelry ranks #1069 out of 1086 companies in the Retail - Cyclical industry, placing it in the top 98.4%.
Is Koura Fine Diamond Jewelry's Beneish M-Score too high?
Koura Fine Diamond Jewelry's current Beneish M-Score of 5.82 is 809% above median its 10-year median of 0.64. Based on the distribution chart, Koura Fine Diamond Jewelry ranks #1069 out of 1086 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Koura Fine Diamond Jewelry has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Koura Fine Diamond Jewelry's Beneish M-Score compare to TPR?
According to the Retail - Cyclical industry distribution chart, Koura Fine Diamond Jewelry ranks #1069 out of 1086 companies for Beneish M-Score. This places Koura Fine Diamond Jewelry 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Koura Fine Diamond Jewelry and its competitors. Koura Fine Diamond Jewelry's current Beneish M-Score is 5.82, which is 809% above median its own 10-year median of 0.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Koura Fine Diamond Jewelry stock overvalued right now?
Koura Fine Diamond Jewelry (BOM:544139) has a current Beneish M-Score of 5.82. The current Beneish M-Score is 5.82, which is 809% above median its 10-year median of 0.64. Koura Fine Diamond Jewelry's overall GF Score™ is 14/100 with 2 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 Koura Fine Diamond Jewelry (BOM:544139), the current Beneish M-Score is 5.82 as of Jul. 29, 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.

Koura Fine Diamond Jewelry Business Description

Address Near Jodhpur Cross Road, 304, Iscon Emporio, Beside Star India Bazar, Satellite, Ahmedabad, GJ, IND, 380015
Koura Fine Diamond Jewelry Ltd is engaged in the wholesale business of gold and diamond jewellery. The company sells a wide range of jewellery products, including gold jewellery and diamond jewellery, and has two types of jewellery: one is in 22 Karat Gold jewellery, and the other is in 18 Karat Diamond jewellery.
14GF Score

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

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