Nexxus Petro Industries (BOM:544265) Beneish M-Score: -1.21 (As of Aug. 08, 2026)

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BOM:544265 Nexxus Petro Industries Ltd BOM:544265
17 GF Score
Price ₹81.60
! 3 Warning Signs
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What is Nexxus Petro Industries Beneish M-Score?

Nexxus Petro Industries BOM:544265 +4.94% 17 Beneish M-Score is -1.21 as of Aug. 08, 2026. GuruFocus rates BOM:544265 with a GF Score™ of 17/100. The stock has 3 warning signs investors should review. Among 1,528 Chemicals companies, Nexxus Petro Industries ranks worse than 90.97% 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 -1.21 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544265' s Beneish M-Score Range Over the Past 10 Years
Min: -1.21   Med: -0.95   Max: 20.21
Current: -1.21

During the past 5 years, the highest Beneish M-Score of Nexxus Petro Industries was 20.21. The lowest was -1.21. And the median was -0.95.

Nexxus Petro Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nexxus Petro Industries'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.

Nexxus Petro Industries Beneish M-Score Chart

Nexxus Petro Industries Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 20.21 -0.95 -1.21

Nexxus Petro Industries Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 20.21 0.00 -0.95 0.00 -1.21

BOM:544265 vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Nexxus Petro Industries'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.

Nexxus Petro Industries Beneish M-Score vs Chemicals Industry

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

* The bar in red indicates where Nexxus Petro Industries's Beneish M-Score falls into.


BOM:544265
17GF Score
Nexxus Petro Industries Ltd BOM:544265
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nexxus Petro Industries 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 Nexxus Petro Industries 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 * 1.6013+0.528 * 0.7033+0.404 * 3.1033+0.892 * 0.8588+0.115 * 0.7068
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.006926-0.327 * 0.8572
=-1.21

* 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 ₹419 Mil.
Revenue was ₹2,619 Mil.
Gross Profit was ₹331 Mil.
Total Current Assets was ₹479 Mil.
Total Assets was ₹646 Mil.
Property, Plant and Equipment(Net PPE) was ₹133 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹23 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹224 Mil.
Long-Term Debt & Capital Lease Obligation was ₹33 Mil.
Net Income was ₹64 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹68 Mil.
 Total Receivables was ₹305 Mil.
Revenue was ₹3,049 Mil.
Gross Profit was ₹271 Mil.
Total Current Assets was ₹524 Mil.
Total Assets was ₹605 Mil.
Property, Plant and Equipment(Net PPE) was ₹71 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹8 Mil.
Selling, General, & Admin. Expense(SGA) was ₹76 Mil.
Total Current Liabilities was ₹266 Mil.
Long-Term Debt & Capital Lease Obligation was ₹17 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)
=(419.493 / 2618.737) / (305.051 / 3049.334)
=0.160189 / 0.100039
=1.6013

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)
=(271.313 / 3049.334) / (331.289 / 2618.737)
=0.088975 / 0.126507
=0.7033

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 - (478.871 + 133.163) / 645.676) / (1 - (524.027 + 71.121) / 605.311)
=0.052104 / 0.01679
=3.1033

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
=2618.737 / 3049.334
=0.8588

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))
=(8.221 / (8.221 + 71.121)) / (22.876 / (22.876 + 133.163))
=0.103615 / 0.146604
=0.7068

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 / 2618.737) / (75.885 / 3049.334)
=0 / 0.024886
=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)
=((33.472 + 224.407) / 645.676) / ((16.509 + 265.527) / 605.311)
=0.399394 / 0.465936
=0.8572

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
=(63.938 - 0 - 68.41) / 645.676
=-0.006926

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.

Nexxus Petro Industries has a M-score of -1.21 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 -1.21 mean?
Nexxus Petro Industries (BOM:544265) has a Beneish M-Score of -1.21 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nexxus Petro Industries and its competitors. According to the industry distribution chart, Nexxus Petro Industries ranks #1390 out of 1528 companies in the Chemicals industry, placing it in the top 91%.
Is Nexxus Petro Industries' Beneish M-Score too high?
Nexxus Petro Industries' current Beneish M-Score is -1.21. Based on the distribution chart, Nexxus Petro Industries ranks #1390 out of 1528 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Nexxus Petro Industries has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Nexxus Petro Industries' Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Nexxus Petro Industries ranks #1390 out of 1528 companies for Beneish M-Score. This places Nexxus Petro Industries 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 Nexxus Petro Industries and its competitors. Nexxus Petro Industries's current Beneish M-Score is -1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nexxus Petro Industries stock overvalued right now?
Nexxus Petro Industries (BOM:544265) has a current Beneish M-Score of -1.21. The current Beneish M-Score is -1.21. Nexxus Petro Industries' overall GF Score™ is 17/100 with 3 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 Nexxus Petro Industries (BOM:544265), the current Beneish M-Score is -1.21 as of Aug. 08, 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.

Nexxus Petro Industries Business Description

Address Applewood Township, Sanathal Sanand, Swati Trinity, B-811, Sarkhej, Dascroi, Ahmedabad, GJ, IND, 382210
Nexxus Petro Industries Ltd is an Indian company engaged in the manufacturing, trading, and sale of petrochemical products, namely bitumen and bitumen emulsions. Its products are widely used in the infrastructure and construction sectors, including road construction, serving government agencies, road authorities, and private industry. The company operates a processing facility in Mundra, Gujarat, where it treats imported and domestically sourced bitumen. Nexxus generates revenue prominently from selling processed bitumen and related special bituminous products.
17GF 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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