Liotech Industries (BOM:544796) Beneish M-Score: 0.00 (As of Aug. 14, 2026)

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BOM:544796 Liotech Industries Ltd BOM:544796
19 GF Score
Price ₹101.45
! 1 Warning Sign
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What is Liotech Industries Beneish M-Score?

Liotech Industries BOM:544796 -1.79% 19 Beneish M-Score is 0.00 as of Aug. 14, 2026. GuruFocus rates BOM:544796 with a GF Score™ of 19/100. The stock has 1 warning sign investors should review. Among 1,705 Construction companies, Liotech Industries ranks worse than 58650.97% 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.

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

During the past 3 years, the highest Beneish M-Score of Liotech Industries was 0.00. The lowest was 0.00. And the median was 0.00.

Liotech Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Liotech Industries'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.

Liotech Industries Beneish M-Score Chart

Liotech Industries Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 0.00

Liotech Industries Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 0.00

BOM:544796 vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Liotech Industries'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.

Liotech Industries Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Liotech Industries's Beneish M-Score distribution charts can be found below:

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


BOM:544796
19GF Score
Liotech Industries Ltd BOM:544796
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Liotech Industries 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 Liotech Industries 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ₹59.1 Mil.
Revenue was ₹406.8 Mil.
Gross Profit was ₹80.3 Mil.
Total Current Assets was ₹131.7 Mil.
Total Assets was ₹197.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹66.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.2 Mil.
Total Current Liabilities was ₹79.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹13.0 Mil.
Net Income was ₹41.6 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹26.2 Mil.
 Total Receivables was ₹48.9 Mil.
Revenue was ₹278.6 Mil.
Gross Profit was ₹55.8 Mil.
Total Current Assets was ₹100.5 Mil.
Total Assets was ₹140.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹40.4 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.3 Mil.
Total Current Liabilities was ₹58.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹19.7 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)
=(59.071 / 406.778) / (48.936 / 278.63)
=0.145217 / 0.175631
=

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)
=(55.831 / 278.63) / (80.322 / 406.778)
=0.200377 / 0.197459
=

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 - (131.716 + 66.03) / 197.747) / (1 - (100.492 + 40.388) / 140.88)
=5.0E-6 / 0
=

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
=406.778 / 278.63
=

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))
=(5.336 / (5.336 + 40.388)) / (6.484 / (6.484 + 66.03))
=0.1167 / 0.089417
=

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)
=(0.232 / 406.778) / (0.271 / 278.63)
=0.00057 / 0.000973
=

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)
=((12.957 + 79.933) / 197.747) / ((19.744 + 58.217) / 140.88)
=0.469742 / 0.553386
=

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
=(41.639 - 0 - 26.204) / 197.747
=0.078054

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Liotech Industries (BOM:544796) has a Beneish M-Score of 0.00 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Liotech Industries and its competitors. According to the industry distribution chart, Liotech Industries ranks #999999 out of 1705 companies in the Construction industry.
Is Liotech Industries' Beneish M-Score too high?
Liotech Industries' current Beneish M-Score is 0.00. Based on the distribution chart, Liotech Industries ranks #999999 out of 1705 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Liotech Industries has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Liotech Industries' Beneish M-Score compare to TT and JCI?
According to the Construction industry distribution chart, Liotech Industries ranks #999999 out of 1705 companies for Beneish M-Score. This places Liotech Industries 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Liotech Industries and its competitors. Liotech Industries's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Liotech Industries stock overvalued right now?
Liotech Industries (BOM:544796) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Liotech Industries' overall GF Score™ is 19/100 with 1 warning sign 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 Liotech Industries (BOM:544796), the current Beneish M-Score is 0.00 as of Aug. 14, 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.

Liotech Industries Business Description

Address Shapar Sr. No. 269 P 2, New Sr. No. 464, Plot No 21, Kotdasanagani, Shapar, Rajkot, GJ, IND, 360024
Liotech Industries Ltd specializes in the production of hardware structures and accessories, including door kits, a wide range of hinges (including cut & butt, parliament, W, Z, and duck hinges), gate hooks, aldrop, locks, handles, tower bolts,and shelf bottoms. It offers a diverse selection of products, with over 150 distinct specifications, that cater to various industries such as housing, infrastructure, agriculture, automotive, electricity, cement, mining, solar energy, and general engineering. Aside from its production operations, the company also engages in the trading of supplementary products such as door stoppers, magnets, table brackets, bed lifters, and bell magnets.
19GF Score

Get the complete analysis for BOM:544796

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

₹101.45
Price