Kanishk Aluminium India (BOM:544693) Beneish M-Score: -0.80 (As of Aug. 02, 2026)

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BOM:544693 Kanishk Aluminium India Ltd BOM:544693
14 GF Score
Price ₹25.50
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What is Kanishk Aluminium India Beneish M-Score?

Kanishk Aluminium India BOM:544693 14 Beneish M-Score is -0.80 as of Aug. 02, 2026. GuruFocus rates BOM:544693 with a GF Score™ of 14/100. The stock has 5 warning signs investors should review. Among 677 Metals & Mining companies, Kanishk Aluminium India ranks worse than 82.42% 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 Kanishk Aluminium India's Beneish M-Score or its related term are showing as below:

BOM:544693' s Beneish M-Score Range Over the Past 10 Years
Min: -1.99   Med: -1.96   Max: -0.8
Current: -0.8

During the past 5 years, the highest Beneish M-Score of Kanishk Aluminium India was -0.80. The lowest was -1.99. And the median was -1.96.

Kanishk Aluminium India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Kanishk Aluminium 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.

Kanishk Aluminium India Beneish M-Score Chart

Kanishk Aluminium India Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.96 -1.99 -0.80

Kanishk Aluminium India Semi-Annual Data
Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 -1.96 -1.99 -0.80

BOM:544693 vs AA: Beneish M-Score Comparison

For the Aluminum subindustry, Kanishk Aluminium 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.

Kanishk Aluminium India Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Kanishk Aluminium India's Beneish M-Score distribution charts can be found below:

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


BOM:544693
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Kanishk Aluminium India Ltd BOM:544693
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Kanishk Aluminium 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 Kanishk Aluminium 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 * 1.6673+0.528 * 0.9042+0.404 * 0.6372+0.892 * 1.3156+0.115 * 2.672
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.119683-0.327 * 0.819
=-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 ₹238.7 Mil.
Revenue was ₹786.5 Mil.
Gross Profit was ₹155.7 Mil.
Total Current Assets was ₹633.1 Mil.
Total Assets was ₹997.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹358.2 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹350.8 Mil.
Long-Term Debt & Capital Lease Obligation was ₹178.1 Mil.
Net Income was ₹41.2 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-78.2 Mil.
 Total Receivables was ₹108.8 Mil.
Revenue was ₹597.8 Mil.
Gross Profit was ₹107.0 Mil.
Total Current Assets was ₹372.2 Mil.
Total Assets was ₹505.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹128.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4.6 Mil.
Total Current Liabilities was ₹256.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹70.1 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)
=(238.703 / 786.489) / (108.821 / 597.822)
=0.303505 / 0.182029
=1.6673

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)
=(107.04 / 597.822) / (155.739 / 786.489)
=0.17905 / 0.198018
=0.9042

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 - (633.137 + 358.168) / 997.25) / (1 - (372.167 + 128.07) / 504.961)
=0.005961 / 0.009355
=0.6372

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
=786.489 / 597.822
=1.3156

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))
=(7.356 / (7.356 + 128.07)) / (7.432 / (7.432 + 358.168))
=0.054317 / 0.020328
=2.672

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 / 786.489) / (4.612 / 597.822)
=0 / 0.007715
=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)
=((178.12 + 350.774) / 997.25) / ((70.137 + 256.853) / 504.961)
=0.530352 / 0.647555
=0.819

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
=(41.193 - 0 - -78.161) / 997.25
=0.119683

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.

Kanishk Aluminium India 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?
Kanishk Aluminium India (BOM:544693) has a Beneish M-Score of -0.80 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kanishk Aluminium India and its competitors. According to the industry distribution chart, Kanishk Aluminium India ranks #558 out of 677 companies in the Metals & Mining industry, placing it in the top 82.4%.
Is Kanishk Aluminium India's Beneish M-Score too high?
Kanishk Aluminium India's current Beneish M-Score is -0.80. Based on the distribution chart, Kanishk Aluminium India ranks #558 out of 677 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Kanishk Aluminium India has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Kanishk Aluminium India's Beneish M-Score compare to AA?
According to the Metals & Mining industry distribution chart, Kanishk Aluminium India ranks #558 out of 677 companies for Beneish M-Score. This places Kanishk Aluminium 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Kanishk Aluminium India and its competitors. Kanishk Aluminium India's current Beneish M-Score is -0.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kanishk Aluminium India stock overvalued right now?
Kanishk Aluminium India (BOM:544693) has a current Beneish M-Score of -0.80. The current Beneish M-Score is -0.80. Kanishk Aluminium India's overall GF Score™ is 14/100 with 5 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 Kanishk Aluminium India (BOM:544693), the current Beneish M-Score is -0.80 as of Aug. 02, 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.

Kanishk Aluminium India Business Description

Address Plot No. E-849 A, Fourth Phase RIICO, Boranada, Jodhpur, RJ, IND, 342001
Kanishk Aluminium India Ltd is specialized in manufacturing a comprehensive range of aluminium extrusion products, including solid & hollow section profiles, solar profiles, railings, heatsinks and sliding / fixed windows and doors profiles. Its products serve a diverse array of industries, such as electronics, automotive, mechanical, solar, furniture, transport, electrical, and architecture.
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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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