SSMD Agrotech India (BOM:544621) Beneish M-Score: 2.93 (As of Jul. 03, 2026) — 463% Above Median


BOM:544621 SSMD Agrotech India Ltd BOM:544621
19 GF Score
Price ₹63.34
! 2 Warning Signs
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What is SSMD Agrotech India Beneish M-Score?

SSMD Agrotech India BOM:544621 -4.03% 19 Beneish M-Score is 2.93 as of Jul. 03, 2026, which is 463% above its 10-year median of 0.52. GuruFocus rates BOM:544621 with a GF Score™ of 19/100. The stock has 2 warning signs investors should review. Among 1,847 Consumer Packaged Goods companies, SSMD Agrotech India ranks worse than 96.97% 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 2.93 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544621' s Beneish M-Score Range Over the Past 10 Years
Min: -1.89   Med: 0.52   Max: 2.93
Current: 2.93

During the past 4 years, the highest Beneish M-Score of SSMD Agrotech India was 2.93. The lowest was -1.89. And the median was 0.52.

SSMD Agrotech India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SSMD Agrotech 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.

SSMD Agrotech India Beneish M-Score Chart

SSMD Agrotech India Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.89 2.93

SSMD Agrotech India Semi-Annual Data
Mar23 Mar24 Mar25 Sep25 Mar26
Beneish M-Score 0.00 0.00 -1.89 0.00 2.93

BOM:544621 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, SSMD Agrotech 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.

SSMD Agrotech India Beneish M-Score vs Consumer Packaged Goods Industry

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

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


BOM:544621
19GF Score
SSMD Agrotech India Ltd BOM:544621
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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SSMD Agrotech 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 SSMD Agrotech 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 * 5.0142+0.528 * 1.1272+0.404 * 0.8721+0.892 * 1.163+0.115 * 0.9116
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.8964+4.679 * 0.318718-0.327 * 0.3069
=2.93

* 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 ₹182 Mil.
Revenue was ₹1,153 Mil.
Gross Profit was ₹116 Mil.
Total Current Assets was ₹475 Mil.
Total Assets was ₹493 Mil.
Property, Plant and Equipment(Net PPE) was ₹17 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4 Mil.
Total Current Liabilities was ₹85 Mil.
Long-Term Debt & Capital Lease Obligation was ₹8 Mil.
Net Income was ₹55 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-102 Mil.
 Total Receivables was ₹31 Mil.
Revenue was ₹992 Mil.
Gross Profit was ₹112 Mil.
Total Current Assets was ₹163 Mil.
Total Assets was ₹182 Mil.
Property, Plant and Equipment(Net PPE) was ₹18 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2 Mil.
Total Current Liabilities was ₹101 Mil.
Long-Term Debt & Capital Lease Obligation was ₹10 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)
=(181.623 / 1153.494) / (31.144 / 991.795)
=0.157455 / 0.031402
=5.0142

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)
=(111.955 / 991.795) / (115.512 / 1153.494)
=0.112881 / 0.100141
=1.1272

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 - (474.62 + 17.455) / 493.471) / (1 - (163.034 + 17.968) / 181.591)
=0.002829 / 0.003244
=0.8721

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
=1153.494 / 991.795
=1.163

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))
=(4.376 / (4.376 + 17.968)) / (4.776 / (4.776 + 17.455))
=0.195847 / 0.214835
=0.9116

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)
=(3.841 / 1153.494) / (1.742 / 991.795)
=0.00333 / 0.001756
=1.8964

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)
=((8.266 + 84.899) / 493.471) / ((10.442 + 101.271) / 181.591)
=0.188795 / 0.61519
=0.3069

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
=(55.272 - 0 - -102.006) / 493.471
=0.318718

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.

SSMD Agrotech India has a M-score of 2.93 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 2.93 mean?
SSMD Agrotech India (BOM:544621) has a Beneish M-Score of 2.93 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SSMD Agrotech India and its competitors. This is 463% above median its historical median of 0.52. According to the industry distribution chart, SSMD Agrotech India ranks #1791 out of 1847 companies in the Consumer Packaged Goods industry, placing it in the top 97%.
Is SSMD Agrotech India's Beneish M-Score too high?
SSMD Agrotech India's current Beneish M-Score of 2.93 is 463% above median its 10-year median of 0.52. Based on the distribution chart, SSMD Agrotech India ranks #1791 out of 1847 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, SSMD Agrotech India has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does SSMD Agrotech India's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, SSMD Agrotech India ranks #1791 out of 1847 companies for Beneish M-Score. This places SSMD Agrotech 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 SSMD Agrotech India and its competitors. SSMD Agrotech India's current Beneish M-Score is 2.93, which is 463% above median its own 10-year median of 0.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SSMD Agrotech India stock overvalued right now?
SSMD Agrotech India (BOM:544621) has a current Beneish M-Score of 2.93. The current Beneish M-Score is 2.93, which is 463% above median its 10-year median of 0.52. SSMD Agrotech India's overall GF Score™ is 19/100 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 SSMD Agrotech India (BOM:544621), the current Beneish M-Score is 2.93 as of Jul. 03, 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.

SSMD Agrotech India Business Description

Address G-215 Preet Vihar, Upper Ground Floor, Delhi, IND, 110092
SSMD Agrotech India Ltd is engaged in the manufacturing, trading, and repacking of a wide array of agro-food products. The company operates under four primary sub-brands: Manohar Agro, Super S.S., Delhi Special, Shri Dhanlaxmi. The company manufactures products such as various varieties of Gram Flour, Chana Dal, Matar Flour, Puffed Rice, Ramdana and other agro food products. It also manufactures Atta, Mustard Oil, Spices at its D2C Dark Store Factory. The company derives revenue from the sale of its products, generating the majority revenue from the sale of Gram Flour.
19GF Score

Get the complete analysis for BOM:544621

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

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