UHM Vacation (BOM:544779) Beneish M-Score: -0.78 (As of Sep. 06, 2026)

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BOM:544779 UHM Vacation Ltd BOM:544779
19 GF Score
Price ₹33.01
! 2 Warning Signs
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What is UHM Vacation Beneish M-Score?

UHM Vacation BOM:544779 -1.73% 19 Beneish M-Score is -0.78 as of Sep. 06, 2026. GuruFocus rates BOM:544779 with a GF Score™ of 19/100. The stock has 2 warning signs investors should review. Among 816 Travel & Leisure companies, UHM Vacation ranks worse than 92.77% 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 -0.78 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544779' s Beneish M-Score Range Over the Past 10 Years
Min: -0.78   Med: -0.78   Max: -0.78
Current: -0.78

During the past 3 years, the highest Beneish M-Score of UHM Vacation was -0.78. The lowest was -0.78. And the median was -0.78.

UHM Vacation Beneish M-Score Historical Data

* Premium members only.

The historical data trend for UHM Vacation'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.

UHM Vacation Beneish M-Score Chart

UHM Vacation Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -0.78

UHM Vacation Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -0.78

BOM:544779 vs BKNG, ABNB, RCL: Beneish M-Score Comparison

For the Travel Services subindustry, UHM Vacation'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.

UHM Vacation Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, UHM Vacation's Beneish M-Score distribution charts can be found below:

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


BOM:544779
19GF Score
UHM Vacation Ltd BOM:544779
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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UHM Vacation 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 UHM Vacation 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 * 1.9901+0.528 * 0.9652+0.404 * 0.6536+0.892 * 1.3114+0.115 * 0.9343
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9487+4.679 * 0.190545-0.327 * 1.6783
=-0.78

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was ₹188.3 Mil.
Revenue was ₹401.4 Mil.
Gross Profit was ₹105.7 Mil.
Total Current Assets was ₹372.8 Mil.
Total Assets was ₹390.6 Mil.
Property, Plant and Equipment(Net PPE) was ₹6.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹5.7 Mil.
Total Current Liabilities was ₹175.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 Mil.
Net Income was ₹71.4 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-3.1 Mil.
 Total Receivables was ₹72.1 Mil.
Revenue was ₹306.1 Mil.
Gross Profit was ₹77.8 Mil.
Total Current Assets was ₹177.6 Mil.
Total Assets was ₹193.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹7.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4.6 Mil.
Total Current Liabilities was ₹51.7 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)
=(188.292 / 401.444) / (72.149 / 306.123)
=0.469037 / 0.235686
=1.9901

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)
=(77.767 / 306.123) / (105.664 / 401.444)
=0.254038 / 0.26321
=0.9652

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 - (372.8 + 6.945) / 390.647) / (1 - (177.647 + 7.53) / 193.436)
=0.027908 / 0.042696
=0.6536

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
=401.444 / 306.123
=1.3114

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))
=(0.913 / (0.913 + 7.53)) / (0.909 / (0.909 + 6.945))
=0.108137 / 0.115737
=0.9343

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)
=(5.713 / 401.444) / (4.592 / 306.123)
=0.014231 / 0.015001
=0.9487

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)
=((0 + 175.206) / 390.647) / ((0 + 51.694) / 193.436)
=0.448502 / 0.267241
=1.6783

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
=(71.378 - 0 - -3.058) / 390.647
=0.190545

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.

UHM Vacation has a M-score of -0.78 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 -0.78 mean?
UHM Vacation (BOM:544779) has a Beneish M-Score of -0.78 as of Sep. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on UHM Vacation and its competitors. According to the industry distribution chart, UHM Vacation ranks #757 out of 816 companies in the Travel & Leisure industry, placing it in the top 92.8%.
Is UHM Vacation's Beneish M-Score too high?
UHM Vacation's current Beneish M-Score is -0.78. Based on the distribution chart, UHM Vacation ranks #757 out of 816 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, UHM Vacation has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does UHM Vacation's Beneish M-Score compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, UHM Vacation ranks #757 out of 816 companies for Beneish M-Score. This places UHM Vacation 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 UHM Vacation and its competitors. UHM Vacation's current Beneish M-Score is -0.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is UHM Vacation stock overvalued right now?
UHM Vacation (BOM:544779) has a current Beneish M-Score of -0.78. The current Beneish M-Score is -0.78. UHM Vacation'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 UHM Vacation (BOM:544779), the current Beneish M-Score is -0.78 as of Sep. 06, 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.

UHM Vacation Business Description

Address C 715, Dattani Plaza, Near East West Industrial Estate Safed Pool, Saki Naka, Andheri East, Mumbai, MH, IND, 400072
UHM Vacation Ltd is engaged in the business of travel and tourism aggregator services, offering comprehensive range of travel and tourism solutions under one platform. It sources and aggregates services from airline operators, accommodation service providers, cruise lines, car rental companies, visa facilitators, and other travel service providers, either directly or through third-party aggregators. The company's offerings include domestic and international air ticket bookings, accommodation bookings, holiday package bookings, tours and activities bookings, transfer management services, car rental services, visa services, and cruise bookings. The majority of its revenue is derived from the provision of accommodation & other travel and tourism ancillary services.
19GF 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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