Defrail Technologies (BOM:544677) Beneish M-Score: -1.35 (As of Aug. 10, 2026)

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BOM:544677 Defrail Technologies Ltd BOM:544677
18 GF Score
Price ₹69.00
! 2 Warning Signs
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What is Defrail Technologies Beneish M-Score?

Defrail Technologies BOM:544677 18 Beneish M-Score is -1.35 as of Aug. 10, 2026. GuruFocus rates BOM:544677 with a GF Score™ of 18/100. The stock has 2 warning signs investors should review. Among 1,275 Vehicles & Parts companies, Defrail Technologies ranks worse than 93.57% 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 -1.35 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544677' s Beneish M-Score Range Over the Past 10 Years
Min: -1.35   Med: -1.35   Max: -1.35
Current: -1.35

During the past 3 years, the highest Beneish M-Score of Defrail Technologies was -1.35. The lowest was -1.35. And the median was -1.35.

Defrail Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Defrail 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.

Defrail Technologies Beneish M-Score Chart

Defrail Technologies Annual Data
Trend Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.35

Defrail Technologies Semi-Annual Data
Mar24 Mar25 Sep25 Mar26
Beneish M-Score 0.00 0.00 0.00 -1.35

BOM:544677 vs ORLY, AZO: Beneish M-Score Comparison

For the Auto Parts subindustry, Defrail 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.

Defrail Technologies Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Defrail Technologies's Beneish M-Score distribution charts can be found below:

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


BOM:544677
18GF Score
Defrail Technologies Ltd BOM:544677
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Defrail 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 Defrail 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 * 1.294+0.528 * 1.0043+0.404 * 0.499+0.892 * 1.2901+0.115 * 0.8693
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.118524-0.327 * 0.729
=-1.35

* 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 ₹153.6 Mil.
Revenue was ₹802.6 Mil.
Gross Profit was ₹308.9 Mil.
Total Current Assets was ₹382.2 Mil.
Total Assets was ₹522.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹136.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹9.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹199.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₹76.2 Mil.
Net Income was ₹40.1 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-21.8 Mil.
 Total Receivables was ₹92.0 Mil.
Revenue was ₹622.1 Mil.
Gross Profit was ₹240.5 Mil.
Total Current Assets was ₹206.5 Mil.
Total Assets was ₹339.1 Mil.
Property, Plant and Equipment(Net PPE) was ₹128.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹12.1 Mil.
Total Current Liabilities was ₹188.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹57.5 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)
=(153.588 / 802.582) / (92 / 622.093)
=0.191367 / 0.147888
=1.294

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)
=(240.46 / 622.093) / (308.908 / 802.582)
=0.386534 / 0.384893
=1.0043

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 - (382.206 + 136.642) / 522.333) / (1 - (206.496 + 128.105) / 339.136)
=0.006672 / 0.013372
=0.499

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
=802.582 / 622.093
=1.2901

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))
=(7.661 / (7.661 + 128.105)) / (9.485 / (9.485 + 136.642))
=0.056428 / 0.064909
=0.8693

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 / 802.582) / (12.074 / 622.093)
=0 / 0.019409
=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)
=((76.2 + 199.64) / 522.333) / ((57.523 + 188.165) / 339.136)
=0.528092 / 0.724453
=0.729

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
=(40.096 - 0 - -21.813) / 522.333
=0.118524

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.

Defrail Technologies has a M-score of -1.35 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 -1.35 mean?
Defrail Technologies (BOM:544677) has a Beneish M-Score of -1.35 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Defrail Technologies and its competitors. According to the industry distribution chart, Defrail Technologies ranks #1193 out of 1275 companies in the Vehicles & Parts industry, placing it in the top 93.6%.
Is Defrail Technologies' Beneish M-Score too high?
Defrail Technologies' current Beneish M-Score is -1.35. Based on the distribution chart, Defrail Technologies ranks #1193 out of 1275 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Defrail Technologies has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Defrail Technologies' Beneish M-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Defrail Technologies ranks #1193 out of 1275 companies for Beneish M-Score. This places Defrail 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Defrail Technologies and its competitors. Defrail Technologies's current Beneish M-Score is -1.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Defrail Technologies stock overvalued right now?
Defrail Technologies (BOM:544677) has a current Beneish M-Score of -1.35. The current Beneish M-Score is -1.35. Defrail Technologies' overall GF Score™ is 18/100 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 Defrail Technologies (BOM:544677), the current Beneish M-Score is -1.35 as of Aug. 10, 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.

Defrail Technologies Business Description

Address Plot no 180, Sector 24, Faridabad Sector 22, Faridabad, HR, IND, 121005
Defrail Technologies Ltd is engaged in the business of manufacturing rubber parts & components. Its products serve different industries including Automotive, Railways and Defence. The company's product portfolio includes: i) Rubber Hose and Assemblies, ii) Rubber Profiles and Beadings, and iii) Rubber Moulded Parts. The majority of revenue is generated from the Rubber Hose and Assemblies product segment, which designs and supplies flexible hose systems for the controlled transfer of fluids, gases, and air across automotive, railway, defence, and industrial applications under varying pressure and temperature conditions. A substantial portion of its revenue is generated from the Automobile Industry.
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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