Jay Ambe Supermarkets (BOM:544514) Beneish M-Score: -0.89 (As of Aug. 08, 2026)

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BOM:544514 Jay Ambe Supermarkets Ltd BOM:544514
18 GF Score
Price ₹107.30
! 3 Warning Signs
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What is Jay Ambe Supermarkets Beneish M-Score?

Jay Ambe Supermarkets BOM:544514 18 Beneish M-Score is -0.89 as of Aug. 08, 2026. GuruFocus rates BOM:544514 with a GF Score™ of 18/100. The stock has 3 warning signs investors should review. Among 296 Retail - Defensive companies, Jay Ambe Supermarkets ranks worse than 91.22% 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 -0.89 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544514' s Beneish M-Score Range Over the Past 10 Years
Min: -1.31   Med: -0.89   Max: 10.5
Current: -0.89

During the past 5 years, the highest Beneish M-Score of Jay Ambe Supermarkets was 10.50. The lowest was -1.31. And the median was -0.89.

Jay Ambe Supermarkets Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Jay Ambe Supermarkets'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.

Jay Ambe Supermarkets Beneish M-Score Chart

Jay Ambe Supermarkets Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 10.50 -1.31 -0.89

Jay Ambe Supermarkets Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 10.50 0.00 -1.31 0.00 -0.89

BOM:544514 vs WMT, COST, TGT: Beneish M-Score Comparison

For the Discount Stores subindustry, Jay Ambe Supermarkets'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.

Jay Ambe Supermarkets Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Jay Ambe Supermarkets's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Jay Ambe Supermarkets's Beneish M-Score falls into.


BOM:544514
18GF Score
Jay Ambe Supermarkets Ltd BOM:544514
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Jay Ambe Supermarkets 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 Jay Ambe Supermarkets 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 * 1.6997+0.528 * 1.1296+0.404 * 0.9473+0.892 * 1.5099+0.115 * 0.8202
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.03087-0.327 * 0.5357
=-0.89

* 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 ₹44.3 Mil.
Revenue was ₹715.0 Mil.
Gross Profit was ₹166.0 Mil.
Total Current Assets was ₹362.7 Mil.
Total Assets was ₹582.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹192.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹21.8 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹146.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2.2 Mil.
Net Income was ₹48.7 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹30.8 Mil.
 Total Receivables was ₹17.3 Mil.
Revenue was ₹473.5 Mil.
Gross Profit was ₹124.2 Mil.
Total Current Assets was ₹218.5 Mil.
Total Assets was ₹267.8 Mil.
Property, Plant and Equipment(Net PPE) was ₹35.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹17.6 Mil.
Total Current Liabilities was ₹127.8 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)
=(44.328 / 714.976) / (17.273 / 473.528)
=0.061999 / 0.036477
=1.6997

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)
=(124.184 / 473.528) / (165.985 / 714.976)
=0.262253 / 0.232155
=1.1296

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 - (362.702 + 192.106) / 582.537) / (1 - (218.533 + 35.796) / 267.784)
=0.0476 / 0.050246
=0.9473

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
=714.976 / 473.528
=1.5099

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))
=(3.267 / (3.267 + 35.796)) / (21.813 / (21.813 + 192.106))
=0.083634 / 0.101969
=0.8202

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 / 714.976) / (17.626 / 473.528)
=0 / 0.037223
=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)
=((2.239 + 146.715) / 582.537) / ((0 + 127.817) / 267.784)
=0.255699 / 0.477314
=0.5357

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
=(48.748 - 0 - 30.765) / 582.537
=0.03087

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.

Jay Ambe Supermarkets has a M-score of -0.89 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 -0.89 mean?
Jay Ambe Supermarkets (BOM:544514) has a Beneish M-Score of -0.89 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jay Ambe Supermarkets and its competitors. According to the industry distribution chart, Jay Ambe Supermarkets ranks #270 out of 296 companies in the Retail - Defensive industry, placing it in the top 91.2%.
Is Jay Ambe Supermarkets' Beneish M-Score too high?
Jay Ambe Supermarkets' current Beneish M-Score is -0.89. Based on the distribution chart, Jay Ambe Supermarkets ranks #270 out of 296 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Jay Ambe Supermarkets has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Jay Ambe Supermarkets' Beneish M-Score compare to WMT and COST?
According to the Retail - Defensive industry distribution chart, Jay Ambe Supermarkets ranks #270 out of 296 companies for Beneish M-Score. This places Jay Ambe Supermarkets 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Jay Ambe Supermarkets and its competitors. Jay Ambe Supermarkets's current Beneish M-Score is -0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jay Ambe Supermarkets stock overvalued right now?
Jay Ambe Supermarkets (BOM:544514) has a current Beneish M-Score of -0.89. The current Beneish M-Score is -0.89. Jay Ambe Supermarkets' overall GF Score™ is 18/100 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 Jay Ambe Supermarkets (BOM:544514), the current Beneish M-Score is -0.89 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.

Jay Ambe Supermarkets Business Description

Address A001, Shubh Vivid, Por Kudasan, Village- Kudasan, Gandhinagar, GJ, IND, 382421
Jay Ambe Supermarkets Ltd is engaged in the business of trading of FMCG material, grocery, Home Textile, Home Decor, Cloths, Apparels, Toys, Gift Articles, Footwear, other house hold items, via supermarkets and its type and other related activity to fulfil the main object. The Company is carrying on its business through retail marts via franchise model as well. The company is also engaged in making operational income through, letting of shelves to other companies in their marts, paid branding and marketing through display in company's stores.
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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