Exato Technologies (BOM:544626) Beneish M-Score: -1.25 (As of Jun. 25, 2026)


BOM:544626 Exato Technologies Ltd BOM:544626
20 GF Score
Price ₹371.20
! 3 Warning Signs
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What is Exato Technologies Beneish M-Score?

Exato Technologies BOM:544626 -0.47% 20 Beneish M-Score is -1.25 as of Jun. 25, 2026. GuruFocus rates BOM:544626 with a GF Score™ of 20/100. The stock has 3 warning signs investors should review. Among 2,633 Software companies, Exato Technologies ranks worse than 87.39% 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 -1.25 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544626' s Beneish M-Score Range Over the Past 10 Years
Min: -2.51   Med: -1.88   Max: -1.25
Current: -1.25

During the past 4 years, the highest Beneish M-Score of Exato Technologies was -1.25. The lowest was -2.51. And the median was -1.88.

Exato Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Exato Technologies'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.

Exato Technologies Beneish M-Score Chart

Exato Technologies Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -2.51 -1.25

Exato Technologies Quarterly Data
Mar23 Mar24 Dec24 Mar25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 -2.51 0.00 0.00 -1.25

BOM:544626 vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Exato Technologies'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.

Exato Technologies Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Exato Technologies's Beneish M-Score distribution charts can be found below:

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


BOM:544626
20GF Score
Exato Technologies Ltd BOM:544626
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Exato Technologies 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 Exato Technologies 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 * 0.943+0.528 * 1.0116+0.404 * 1.2748+0.892 * 1.3523+0.115 * 0.7072
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.11798-0.327 * 0.4962
=-1.25

* 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 ₹436.1 Mil.
Revenue was ₹1,680.0 Mil.
Gross Profit was ₹455.9 Mil.
Total Current Assets was ₹891.5 Mil.
Total Assets was ₹1,234.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹13.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹323.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6.6 Mil.
Net Income was ₹160.9 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹15.3 Mil.
 Total Receivables was ₹342.0 Mil.
Revenue was ₹1,242.3 Mil.
Gross Profit was ₹341.0 Mil.
Total Current Assets was ₹735.5 Mil.
Total Assets was ₹951.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹17.2 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹22.6 Mil.
Total Current Liabilities was ₹431.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹81.4 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)
=(436.105 / 1679.958) / (341.982 / 1242.255)
=0.259593 / 0.275291
=0.943

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)
=(341.007 / 1242.255) / (455.88 / 1679.958)
=0.274506 / 0.271364
=1.0116

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 - (891.489 + 13.611) / 1234.049) / (1 - (735.505 + 17.179) / 951.68)
=0.266561 / 0.2091
=1.2748

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
=1679.958 / 1242.255
=1.3523

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))
=(5.996 / (5.996 + 17.179)) / (7.853 / (7.853 + 13.611))
=0.258727 / 0.365868
=0.7072

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 / 1679.958) / (22.569 / 1242.255)
=0 / 0.018168
=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)
=((6.612 + 323.278) / 1234.049) / ((81.351 + 431.383) / 951.68)
=0.267323 / 0.538767
=0.4962

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
=(160.888 - 0 - 15.295) / 1234.049
=0.11798

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.

Exato Technologies has a M-score of -1.25 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 -1.25 mean?
Exato Technologies (BOM:544626) has a Beneish M-Score of -1.25 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Exato Technologies and its competitors. According to the industry distribution chart, Exato Technologies ranks #2301 out of 2633 companies in the Software industry, placing it in the top 87.4%.
Is Exato Technologies' Beneish M-Score too high?
Exato Technologies' current Beneish M-Score is -1.25. Based on the distribution chart, Exato Technologies ranks #2301 out of 2633 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Exato Technologies has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Exato Technologies' Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Exato Technologies ranks #2301 out of 2633 companies for Beneish M-Score. This places Exato Technologies 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 Software company?
A good Beneish M-Score depends on the Software 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 Exato Technologies and its competitors. Exato Technologies's current Beneish M-Score is -1.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exato Technologies stock overvalued right now?
Exato Technologies (BOM:544626) has a current Beneish M-Score of -1.25. The current Beneish M-Score is -1.25. Exato Technologies' overall GF Score™ is 20/100 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 Exato Technologies (BOM:544626), the current Beneish M-Score is -1.25 as of Jun. 25, 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.

Exato Technologies Business Description

Address A-33, 02nd Floor, Sector-2, Noida, Gautam Buddha Nagar, Noida, UP, IND, 201301
Exato Technologies Ltd provides services aimed at supporting businesses in managing customer interactions and communication. The company's offerings include Customer Experience-as-a-Service (CXaaS) and AI-as-a-Service, designed to help organizations in improving customer engagement and operational efficiency. The company's offerings include tools like virtual assistants, automation features, and customer sentiment analysis, which support managing interactions across multiple channels, including phone, chat, and email. The company generates the majority of its revenue from the sales of its software.
20GF 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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