Nilachal Carbo Metalicks (BOM:544510) Beneish M-Score: 0.80 (As of Aug. 05, 2026) — Near Median

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BOM:544510 Nilachal Carbo Metalicks Ltd BOM:544510
17 GF Score
Price ₹76.10
! 6 Warning Signs
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What is Nilachal Carbo Metalicks Beneish M-Score?

Nilachal Carbo Metalicks BOM:544510 17 Beneish M-Score is 0.80 as of Aug. 05, 2026, which is at its 10-year median of 0.80. GuruFocus rates BOM:544510 with a GF Score™ of 17/100. The stock has 6 warning signs investors should review. Among 588 Steel companies, Nilachal Carbo Metalicks ranks worse than 93.03% 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 0.8 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544510' s Beneish M-Score Range Over the Past 10 Years
Min: -1.77   Med: 0.8   Max: 0.8
Current: 0.8

During the past 5 years, the highest Beneish M-Score of Nilachal Carbo Metalicks was 0.80. The lowest was -1.77. And the median was 0.80.

Nilachal Carbo Metalicks Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nilachal Carbo Metalicks'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.

Nilachal Carbo Metalicks Beneish M-Score Chart

Nilachal Carbo Metalicks Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.80 -1.77 0.80

Nilachal Carbo Metalicks Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.80 0.00 -1.77 0.00 0.80

BOM:544510 vs HCC, AMR, SXC: Beneish M-Score Comparison

For the Coking Coal subindustry, Nilachal Carbo Metalicks'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.

Nilachal Carbo Metalicks Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, Nilachal Carbo Metalicks's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Nilachal Carbo Metalicks's Beneish M-Score falls into.


BOM:544510
17GF Score
Nilachal Carbo Metalicks Ltd BOM:544510
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nilachal Carbo Metalicks 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 Nilachal Carbo Metalicks 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 * 3.1523+0.528 * 1.1259+0.404 * 0.6781+0.892 * 0.9945+0.115 * 0.9958
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.252966-0.327 * 0.9634
=0.80

* 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 ₹893 Mil.
Revenue was ₹2,004 Mil.
Gross Profit was ₹288 Mil.
Total Current Assets was ₹1,337 Mil.
Total Assets was ₹1,682 Mil.
Property, Plant and Equipment(Net PPE) was ₹327 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹37 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹377 Mil.
Long-Term Debt & Capital Lease Obligation was ₹204 Mil.
Net Income was ₹105 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-320 Mil.
 Total Receivables was ₹285 Mil.
Revenue was ₹2,015 Mil.
Gross Profit was ₹326 Mil.
Total Current Assets was ₹859 Mil.
Total Assets was ₹1,233 Mil.
Property, Plant and Equipment(Net PPE) was ₹356 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹40 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10 Mil.
Total Current Liabilities was ₹400 Mil.
Long-Term Debt & Capital Lease Obligation was ₹42 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)
=(892.524 / 2003.966) / (284.707 / 2015.12)
=0.445379 / 0.141285
=3.1523

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)
=(325.57 / 2015.12) / (287.569 / 2003.966)
=0.161564 / 0.1435
=1.1259

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 - (1337.429 + 326.582) / 1681.771) / (1 - (858.539 + 355.613) / 1233.358)
=0.01056 / 0.015572
=0.6781

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
=2003.966 / 2015.12
=0.9945

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))
=(39.673 / (39.673 + 355.613)) / (36.606 / (36.606 + 326.582))
=0.100365 / 0.100791
=0.9958

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 / 2003.966) / (9.848 / 2015.12)
=0 / 0.004887
=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)
=((204.337 + 376.729) / 1681.771) / ((42.046 + 400.294) / 1233.358)
=0.345508 / 0.358647
=0.9634

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
=(105.367 - 0 - -320.064) / 1681.771
=0.252966

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.

Nilachal Carbo Metalicks has a M-score of 0.80 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 0.80 mean?
Nilachal Carbo Metalicks (BOM:544510) has a Beneish M-Score of 0.80 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nilachal Carbo Metalicks and its competitors. This is near median its historical median of 0.80. According to the industry distribution chart, Nilachal Carbo Metalicks ranks #547 out of 588 companies in the Steel industry, placing it in the top 93%.
Is Nilachal Carbo Metalicks' Beneish M-Score too high?
Nilachal Carbo Metalicks' current Beneish M-Score of 0.80 is near median its 10-year median of 0.80. Based on the distribution chart, Nilachal Carbo Metalicks ranks #547 out of 588 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Nilachal Carbo Metalicks has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Nilachal Carbo Metalicks' Beneish M-Score compare to HCC and AMR?
According to the Steel industry distribution chart, Nilachal Carbo Metalicks ranks #547 out of 588 companies for Beneish M-Score. This places Nilachal Carbo Metalicks 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Nilachal Carbo Metalicks and its competitors. Nilachal Carbo Metalicks's current Beneish M-Score is 0.80, which is near median its own 10-year median of 0.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nilachal Carbo Metalicks stock overvalued right now?
Nilachal Carbo Metalicks (BOM:544510) has a current Beneish M-Score of 0.80. The current Beneish M-Score is 0.80, which is near median its 10-year median of 0.80. Nilachal Carbo Metalicks' overall GF Score™ is 17/100 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 Nilachal Carbo Metalicks (BOM:544510), the current Beneish M-Score is 0.80 as of Aug. 05, 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.

Nilachal Carbo Metalicks Business Description

Address N/4 - 158 IRC Village, Nilachal House, Nayapalli, Bhubaneswar, OR, IND, 751015
Nilachal Carbo Metalicks Ltd is engaged in manufacturing and trading Coking coal, Coke, and Coke fines for Ferro Alloys and Iron and Steel making. It specializes in Ferro Alloy Grade coke, building long-term customer relationships with ferrochrome manufacturers in the country. It produces specific sizes of metallurgical coke, particularly 10-30 mm and 10-40 mm, which are low in phosphorus and ash content. Its product portfolio includes LAM Coke, Low Phosphorus Nut Coke, Ultra Low Phosphorus Nut Coke, and High Grade Coke Fines.
17GF Score

Get the complete analysis for BOM:544510

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

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