Valencia India (BOM:544433) Beneish M-Score: 2.43 (As of Aug. 01, 2026)

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BOM:544433 Valencia India Ltd BOM:544433
18 GF Score
Price ₹18.35
! 6 Warning Signs
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What is Valencia India Beneish M-Score?

Valencia India BOM:544433 +2.63% 18 Beneish M-Score is 2.43 as of Aug. 01, 2026. GuruFocus rates BOM:544433 with a GF Score™ of 18/100. The stock has 6 warning signs investors should review. Among 818 Travel & Leisure companies, Valencia India ranks worse than 97.56% 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 2.43 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544433' s Beneish M-Score Range Over the Past 10 Years
Min: -1.51   Med: -0.79   Max: 2.43
Current: 2.43

During the past 5 years, the highest Beneish M-Score of Valencia India was 2.43. The lowest was -1.51. And the median was -0.79.

Valencia India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Valencia 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.

Valencia India Beneish M-Score Chart

Valencia India Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.51 -0.79 2.43

Valencia India Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -1.51 0.00 -0.79 0.00 2.43

BOM:544433 vs LVS, MGM, WYNN: Beneish M-Score Comparison

For the Resorts & Casinos subindustry, Valencia 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.

Valencia India Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Valencia India's Beneish M-Score distribution charts can be found below:

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


BOM:544433
18GF Score
Valencia India Ltd BOM:544433
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Valencia 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 Valencia 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 * 5.9084+0.528 * 0.8293+0.404 * 0.3856+0.892 * 1.1631+0.115 * 3.3258
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.030827-0.327 * 0.4595
=2.43

* 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 ₹63.20 Mil.
Revenue was ₹89.30 Mil.
Gross Profit was ₹78.17 Mil.
Total Current Assets was ₹78.12 Mil.
Total Assets was ₹708.18 Mil.
Property, Plant and Equipment(Net PPE) was ₹576.54 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6.69 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹55.46 Mil.
Long-Term Debt & Capital Lease Obligation was ₹79.13 Mil.
Net Income was ₹21.99 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹0.16 Mil.
 Total Receivables was ₹9.20 Mil.
Revenue was ₹76.77 Mil.
Gross Profit was ₹55.73 Mil.
Total Current Assets was ₹39.62 Mil.
Total Assets was ₹196.57 Mil.
Property, Plant and Equipment(Net PPE) was ₹118.43 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.70 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹28.08 Mil.
Long-Term Debt & Capital Lease Obligation was ₹53.22 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)
=(63.198 / 89.298) / (9.196 / 76.773)
=0.70772 / 0.119782
=5.9084

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)
=(55.727 / 76.773) / (78.165 / 89.298)
=0.725867 / 0.875328
=0.8293

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 - (78.123 + 576.536) / 708.178) / (1 - (39.616 + 118.433) / 196.571)
=0.075573 / 0.19597
=0.3856

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
=89.298 / 76.773
=1.1631

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))
=(4.7 / (4.7 + 118.433)) / (6.694 / (6.694 + 576.536))
=0.03817 / 0.011477
=3.3258

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 / 89.298) / (0 / 76.773)
=0 / 0
=1

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)
=((79.13 + 55.457) / 708.178) / ((53.216 + 28.078) / 196.571)
=0.190047 / 0.41356
=0.4595

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
=(21.986 - 0 - 0.155) / 708.178
=0.030827

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.

Valencia India has a M-score of 2.43 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 2.43 mean?
Valencia India (BOM:544433) has a Beneish M-Score of 2.43 as of Aug. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Valencia India and its competitors. According to the industry distribution chart, Valencia India ranks #798 out of 818 companies in the Travel & Leisure industry, placing it in the top 97.6%.
Is Valencia India's Beneish M-Score too high?
Valencia India's current Beneish M-Score is 2.43. Based on the distribution chart, Valencia India ranks #798 out of 818 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Valencia India has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Valencia India's Beneish M-Score compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, Valencia India ranks #798 out of 818 companies for Beneish M-Score. This places Valencia 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Valencia India and its competitors. Valencia India's current Beneish M-Score is 2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Valencia India stock overvalued right now?
Valencia India (BOM:544433) has a current Beneish M-Score of 2.43. The current Beneish M-Score is 2.43. Valencia India's overall GF Score™ is 18/100 with 6 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 Valencia India (BOM:544433), the current Beneish M-Score is 2.43 as of Aug. 01, 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.

Valencia India Business Description

Address Drive In road, Thaltej Road, Unit No. 927, Gala Empire, Opposite Doordarshan Tower, Ahmedabad, GJ, IND, 380054
Valencia India Ltd operates a resort named Valencia Club Abu. The resort offers accommodations and a range of amenities, including restaurants, spas, kids' clubs, and various holiday activities. The Company is involved in the Hospitality Business. It derives revenue from Membership Income, Package Income, Room Charges, Event Income, and Food Income.
18GF 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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