Swasth Foodtech India (BOM:544368) Beneish M-Score: -1.83 (As of Aug. 10, 2026)

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BOM:544368 Swasth Foodtech India Ltd BOM:544368
11 GF Score
Price ₹16.11
! 2 Warning Signs
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What is Swasth Foodtech India Beneish M-Score?

Swasth Foodtech India BOM:544368 -6.06% 11 Beneish M-Score is -1.83 as of Aug. 10, 2026. GuruFocus rates BOM:544368 with a GF Score™ of 11/100. The stock has 2 warning signs investors should review. Among 1,854 Consumer Packaged Goods companies, Swasth Foodtech India ranks worse than 82.31% 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 -1.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:544368' s Beneish M-Score Range Over the Past 10 Years
Min: -1.83   Med: -1.44   Max: -0.23
Current: -1.83

During the past 5 years, the highest Beneish M-Score of Swasth Foodtech India was -0.23. The lowest was -1.83. And the median was -1.44.

Swasth Foodtech India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Swasth Foodtech India'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.

Swasth Foodtech India Beneish M-Score Chart

Swasth Foodtech India Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.44 -0.23 -1.83

Swasth Foodtech India Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -1.44 0.00 -0.23 0.00 -1.83

BOM:544368 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Swasth Foodtech India'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.

Swasth Foodtech India Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Swasth Foodtech India's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Swasth Foodtech India's Beneish M-Score falls into.


BOM:544368
11GF Score
Swasth Foodtech India Ltd BOM:544368
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Swasth Foodtech India 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 Swasth Foodtech India 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 * 0.5385+0.528 * 2.7102+0.404 * 0.8598+0.892 * 1.2497+0.115 * 0.9749
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.032601-0.327 * 1.0379
=-1.83

* 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 ₹55 Mil.
Revenue was ₹2,107 Mil.
Gross Profit was ₹39 Mil.
Total Current Assets was ₹392 Mil.
Total Assets was ₹511 Mil.
Property, Plant and Equipment(Net PPE) was ₹114 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹287 Mil.
Long-Term Debt & Capital Lease Obligation was ₹15 Mil.
Net Income was ₹-14 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹3 Mil.
 Total Receivables was ₹82 Mil.
Revenue was ₹1,686 Mil.
Gross Profit was ₹85 Mil.
Total Current Assets was ₹415 Mil.
Total Assets was ₹531 Mil.
Property, Plant and Equipment(Net PPE) was ₹111 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹8 Mil.
Total Current Liabilities was ₹274 Mil.
Long-Term Debt & Capital Lease Obligation was ₹29 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)
=(55.05 / 2107.437) / (81.798 / 1686.388)
=0.026122 / 0.048505
=0.5385

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)
=(84.599 / 1686.388) / (39.009 / 2107.437)
=0.050166 / 0.01851
=2.7102

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 - (391.964 + 114.25) / 510.564) / (1 - (415.029 + 110.563) / 530.852)
=0.00852 / 0.009909
=0.8598

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
=2107.437 / 1686.388
=1.2497

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))
=(7.015 / (7.015 + 110.563)) / (7.448 / (7.448 + 114.25))
=0.059663 / 0.061201
=0.9749

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 / 2107.437) / (7.618 / 1686.388)
=0 / 0.004517
=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)
=((15.338 + 287.322) / 510.564) / ((28.858 + 274.347) / 530.852)
=0.592795 / 0.571167
=1.0379

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
=(-13.9 - 0 - 2.745) / 510.564
=-0.032601

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.

Swasth Foodtech India has a M-score of -1.83 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 -1.83 mean?
Swasth Foodtech India (BOM:544368) has a Beneish M-Score of -1.83 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Swasth Foodtech India and its competitors. According to the industry distribution chart, Swasth Foodtech India ranks #1526 out of 1854 companies in the Consumer Packaged Goods industry, placing it in the top 82.3%.
Is Swasth Foodtech India's Beneish M-Score too high?
Swasth Foodtech India's current Beneish M-Score is -1.83. Based on the distribution chart, Swasth Foodtech India ranks #1526 out of 1854 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Swasth Foodtech India has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Swasth Foodtech India's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Swasth Foodtech India ranks #1526 out of 1854 companies for Beneish M-Score. This places Swasth Foodtech India 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Swasth Foodtech India and its competitors. Swasth Foodtech India's current Beneish M-Score is -1.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Swasth Foodtech India stock overvalued right now?
Swasth Foodtech India (BOM:544368) has a current Beneish M-Score of -1.83. The current Beneish M-Score is -1.83. Swasth Foodtech India's overall GF Score™ is 11/100 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 Swasth Foodtech India (BOM:544368), the current Beneish M-Score is -1.83 as of Aug. 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.

Swasth Foodtech India Business Description

Address Baro Chowmata Belari, Guskara, Purba Burdwan, Burdwan, Bardhaman, WB, IND, 713141
Swasth Foodtech India Ltd is in the business of processing and selling rice bran oil. The company manufactures various rice bran oils under various grades and colours, based on the requirements of its customers. It also markets and sells byproducts generated while processing rice bran oils, such as fatty acids, gums, spent earth, and wax in the open market. The company sells products mainly to oil manufacturers who operate with their own brands, re-packers, and to those who sell edible oil in unbranded or loose form.
11GF Score

Get the complete analysis for BOM:544368

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

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