Susan Electricals India (BOM:544793) Beneish M-Score: -0.57 (As of Aug. 13, 2026)

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BOM:544793 Susan Electricals India Ltd BOM:544793
16 GF Score
Price ₹284.10
! 4 Warning Signs
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What is Susan Electricals India Beneish M-Score?

Susan Electricals India BOM:544793 +9.73% 16 Beneish M-Score is -0.57 as of Aug. 13, 2026. GuruFocus rates BOM:544793 with a GF Score™ of 16/100. The stock has 4 warning signs investors should review. Among 2,907 Industrial Products companies, Susan Electricals India ranks worse than 94.81% 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 -0.57 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544793' s Beneish M-Score Range Over the Past 10 Years
Min: -0.57   Med: 0   Max: 0
Current: -0.57

During the past 4 years, the highest Beneish M-Score of Susan Electricals India was 0.00. The lowest was -0.57. And the median was 0.00.

Susan Electricals India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Susan Electricals 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.

Susan Electricals India Beneish M-Score Chart

Susan Electricals India Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -0.33 -0.57

Susan Electricals India Semi-Annual Data
Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 -0.33 -0.57

BOM:544793 vs VRT, BE: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Susan Electricals 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.

Susan Electricals India Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Susan Electricals India's Beneish M-Score distribution charts can be found below:

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


BOM:544793
16GF Score
Susan Electricals India Ltd BOM:544793
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Susan Electricals 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 Susan Electricals 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 * 0.9949+0.528 * 0.9184+0.404 * 1.0147+0.892 * 1.9947+0.115 * 0.815
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6507+4.679 * 0.215-0.327 * 0.9318
=-0.57

* 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 ₹497 Mil.
Revenue was ₹2,657 Mil.
Gross Profit was ₹401 Mil.
Total Current Assets was ₹1,092 Mil.
Total Assets was ₹1,300 Mil.
Property, Plant and Equipment(Net PPE) was ₹128 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹15 Mil.
Selling, General, & Admin. Expense(SGA) was ₹50 Mil.
Total Current Liabilities was ₹899 Mil.
Long-Term Debt & Capital Lease Obligation was ₹15 Mil.
Net Income was ₹182 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-97 Mil.
 Total Receivables was ₹251 Mil.
Revenue was ₹1,332 Mil.
Gross Profit was ₹185 Mil.
Total Current Assets was ₹591 Mil.
Total Assets was ₹737 Mil.
Property, Plant and Equipment(Net PPE) was ₹101 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹10 Mil.
Selling, General, & Admin. Expense(SGA) was ₹38 Mil.
Total Current Liabilities was ₹546 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)
=(497.275 / 2656.632) / (250.587 / 1331.853)
=0.187182 / 0.188149
=0.9949

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)
=(184.506 / 1331.853) / (400.745 / 2656.632)
=0.138533 / 0.150847
=0.9184

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 - (1092.497 + 128.283) / 1300.493) / (1 - (591.009 + 101.27) / 736.787)
=0.061294 / 0.060408
=1.0147

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
=2656.632 / 1331.853
=1.9947

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))
=(9.57 / (9.57 + 101.27)) / (15.2 / (15.2 + 128.283))
=0.086341 / 0.105936
=0.815

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)
=(49.776 / 2656.632) / (38.353 / 1331.853)
=0.018737 / 0.028797
=0.6507

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)
=((15.368 + 899.1) / 1300.493) / ((9.691 + 546.29) / 736.787)
=0.70317 / 0.754602
=0.9318

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
=(182.464 - 0 - -97.142) / 1300.493
=0.215

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.

Susan Electricals India has a M-score of -0.57 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 -0.57 mean?
Susan Electricals India (BOM:544793) has a Beneish M-Score of -0.57 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Susan Electricals India and its competitors. According to the industry distribution chart, Susan Electricals India ranks #2756 out of 2907 companies in the Industrial Products industry, placing it in the top 94.8%.
Is Susan Electricals India's Beneish M-Score too high?
Susan Electricals India's current Beneish M-Score is -0.57. Based on the distribution chart, Susan Electricals India ranks #2756 out of 2907 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Susan Electricals India has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Susan Electricals India's Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Susan Electricals India ranks #2756 out of 2907 companies for Beneish M-Score. This places Susan Electricals 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Susan Electricals India and its competitors. Susan Electricals India's current Beneish M-Score is -0.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Susan Electricals India stock overvalued right now?
Susan Electricals India (BOM:544793) has a current Beneish M-Score of -0.57. The current Beneish M-Score is -0.57. Susan Electricals India's overall GF Score™ is 16/100 with 4 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 Susan Electricals India (BOM:544793), the current Beneish M-Score is -0.57 as of Aug. 13, 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.

Susan Electricals India Business Description

Address E5, Inika, 2nd Floor, Near Kamal Dhaba, Chander Nagar, Ghaziabad, UP, IND, 201011
Susan Electricals India Ltd is engaged in the manufacturing of aluminium and copper-based electrical winding wires, conductors and cables in various specifications, sizes and configurations. Its product portfolio includes low-tension (LT) and high-tension (HT) cables, as well as aluminium and copper winding wires, strips, and conductors. The company supplies products to electricity distribution utilities, infrastructure and EPC companies, and other electrical wire and cable businesses. The majority of the company's revenue is derived from the sale of low-tension cables in India.
16GF Score

Get the complete analysis for BOM:544793

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

₹284.10
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