Ace Alpha Tech (BOM:544431) Beneish M-Score: 0.00 (As of Aug. 08, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BOM:544431 Ace Alpha Tech Ltd BOM:544431
21 GF Score
Price ₹137.00
! 4 Warning Signs
View Full Analysis

What is Ace Alpha Tech Beneish M-Score?

Ace Alpha Tech BOM:544431 -1.44% 21 Beneish M-Score is 0.00 as of Aug. 08, 2026. GuruFocus rates BOM:544431 with a GF Score™ of 21/100. The stock has 4 warning signs investors should review. Among 703 Capital Markets companies, Ace Alpha Tech ranks worse than 142247.37% 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 Ace Alpha Tech's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Ace Alpha Tech was 0.00. The lowest was 0.00. And the median was 0.00.

Ace Alpha Tech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ace Alpha Tech'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.

Ace Alpha Tech Beneish M-Score Chart

Ace Alpha Tech Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Ace Alpha Tech Quarterly Data
Mar22 Mar23 Mar24 Dec24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

BOM:544431 vs MS, GS, SCHW: Beneish M-Score Comparison

For the Capital Markets subindustry, Ace Alpha Tech'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.

Ace Alpha Tech Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Ace Alpha Tech's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ace Alpha Tech's Beneish M-Score falls into.


BOM:544431
21GF Score
Ace Alpha Tech Ltd BOM:544431
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ace Alpha Tech 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 Ace Alpha Tech 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 ₹334.6 Mil.
Revenue was ₹242.3 Mil.
Gross Profit was ₹226.9 Mil.
Total Current Assets was ₹465.5 Mil.
Total Assets was ₹730.8 Mil.
Property, Plant and Equipment(Net PPE) was ₹75.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹12.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹35.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 Mil.
Net Income was ₹152.0 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-108.9 Mil.
 Total Receivables was ₹0.0 Mil.
Revenue was ₹155.3 Mil.
Gross Profit was ₹141.4 Mil.
Total Current Assets was ₹0.0 Mil.
Total Assets was ₹0.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹0.0 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)
=(334.639 / 242.341) / (0 / 155.341)
=1.38086 / 0
=

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)
=(141.367 / 155.341) / (226.94 / 242.341)
=0.910043 / 0.936449
=

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 - (465.517 + 75.624) / 730.834) / (1 - (0 + 0) / 0)
=0.259557 /
=

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
=242.341 / 155.341
=

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))
=(5.435 / (5.435 + 0)) / (12.084 / (12.084 + 75.624))
=1 / 0.137775
=

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 / 242.341) / (0 / 155.341)
=0 / 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 + 34.969) / 730.834) / ((0 + 0) / 0)
=0.047848 /
=

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
=(151.983 - 0 - -108.933) / 730.834
=0.357011

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?
Ace Alpha Tech (BOM:544431) has a Beneish M-Score of 0.00 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ace Alpha Tech and its competitors. According to the industry distribution chart, Ace Alpha Tech ranks #999999 out of 703 companies in the Capital Markets industry.
Is Ace Alpha Tech's Beneish M-Score too high?
Ace Alpha Tech's current Beneish M-Score is 0.00. Based on the distribution chart, Ace Alpha Tech ranks #999999 out of 703 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Ace Alpha Tech has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Ace Alpha Tech's Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Ace Alpha Tech ranks #999999 out of 703 companies for Beneish M-Score. This places Ace Alpha Tech 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Ace Alpha Tech and its competitors. Ace Alpha Tech'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 Ace Alpha Tech stock overvalued right now?
Ace Alpha Tech (BOM:544431) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Ace Alpha Tech's overall GF Score™ is 21/100 with 4 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 Ace Alpha Tech (BOM:544431), the current Beneish M-Score is 0.00 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.

Ace Alpha Tech Business Description

Address Sector 64, A-39, 2nd Floor, Gautam Buddh Nagar, Noida, UP, IND, 201301
Ace Alpha Tech Ltd serves the financial industry, providing a suite of trading solutions catering to all types of clients, ranging from institutional investors to retail traders via brokers. It provides customized trading solutions in which it uses institutional-grade algorithms that work as a front-end layer over existing order management systems/ RMS, which are connected with stock exchanges. Its solutions also enable clients to work on a simulated environment of their own platform to back-test their solutions. Its segments include Institutional Trading, B2B Retail Trading, User Management, Proprietary Trading, and Custom Trading. It derives revenue from Customization Fees, Consultation Services, Technology Support, Annual Maintenance, and Licensing fees.
21GF Score

Get the complete analysis for BOM:544431

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

₹137.00
Price