Indo MIM (BOM:544837) Beneish M-Score: 0.00 (As of Aug. 31, 2026)

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BOM:544837 Indo MIM Ltd BOM:544837
17 GF Score
Price ₹868.60
! 1 Warning Sign
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What is Indo MIM Beneish M-Score?

Indo MIM BOM:544837 -1.03% 17 Beneish M-Score is 0.00 as of Aug. 31, 2026. GuruFocus rates BOM:544837 with a GF Score™ of 17/100. The stock has 1 warning sign investors should review. Among 2,930 Industrial Products companies, Indo MIM ranks worse than 34129.66% 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 Indo MIM's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Indo MIM was 0.00. The lowest was 0.00. And the median was 0.00.

Indo MIM Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Indo MIM'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.

Indo MIM Beneish M-Score Chart

Indo MIM Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00 0.00

Indo MIM Semi-Annual Data
Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00

BOM:544837 vs ATI, CRS, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, Indo MIM'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.

Indo MIM Beneish M-Score vs Industrial Products Industry

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

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


BOM:544837
17GF Score
Indo MIM Ltd BOM:544837
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Indo MIM 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 Indo MIM 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 * 0.9498+0.528 * 1.0485+0.404 * 1.2241+0.892 * 1.2631+0.115 * 1.0643
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7702+4.679 * -0.111019-0.327 * 0.8606
=-2.60

* 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 ₹7,724 Mil.
Revenue was ₹41,411 Mil.
Gross Profit was ₹24,083 Mil.
Total Current Assets was ₹24,719 Mil.
Total Assets was ₹48,973 Mil.
Property, Plant and Equipment(Net PPE) was ₹22,137 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2,201 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2,476 Mil.
Total Current Liabilities was ₹11,824 Mil.
Long-Term Debt & Capital Lease Obligation was ₹7,924 Mil.
Net Income was ₹5,335 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹10,772 Mil.
 Total Receivables was ₹6,439 Mil.
Revenue was ₹32,785 Mil.
Gross Profit was ₹19,992 Mil.
Total Current Assets was ₹21,275 Mil.
Total Assets was ₹41,408 Mil.
Property, Plant and Equipment(Net PPE) was ₹18,671 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,988 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2,546 Mil.
Total Current Liabilities was ₹12,387 Mil.
Long-Term Debt & Capital Lease Obligation was ₹7,016 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)
=(7724.38 / 41410.56) / (6438.68 / 32784.69)
=0.186532 / 0.196393
=0.9498

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)
=(19992.4 / 32784.69) / (24083.35 / 41410.56)
=0.609809 / 0.581575
=1.0485

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 - (24719.15 + 22136.5) / 48973.33) / (1 - (21274.92 + 18670.78) / 41408.41)
=0.043241 / 0.035324
=1.2241

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
=41410.56 / 32784.69
=1.2631

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))
=(1988.09 / (1988.09 + 18670.78)) / (2200.64 / (2200.64 + 22136.5))
=0.096234 / 0.090423
=1.0643

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)
=(2476.34 / 41410.56) / (2545.52 / 32784.69)
=0.0598 / 0.077644
=0.7702

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)
=((7924.34 + 11824.06) / 48973.33) / ((7016.27 + 12386.62) / 41408.41)
=0.403248 / 0.468574
=0.8606

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
=(5335.43 - 0 - 10772.41) / 48973.33
=-0.111019

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.

Indo MIM has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Indo MIM (BOM:544837) has a Beneish M-Score of 0.00 as of Aug. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Indo MIM and its competitors. According to the industry distribution chart, Indo MIM ranks #999999 out of 2930 companies in the Industrial Products industry.
Is Indo MIM's Beneish M-Score too high?
Indo MIM's current Beneish M-Score is 0.00. Based on the distribution chart, Indo MIM ranks #999999 out of 2930 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Indo MIM has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Indo MIM's Beneish M-Score compare to ATI and CRS?
According to the Industrial Products industry distribution chart, Indo MIM ranks #999999 out of 2930 companies for Beneish M-Score. This places Indo MIM 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 Indo MIM and its competitors. Indo MIM'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 Indo MIM stock overvalued right now?
Indo MIM (BOM:544837) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Indo MIM's overall GF Score™ is 17/100 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 Indo MIM (BOM:544837), the current Beneish M-Score is 0.00 as of Aug. 31, 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.

Indo MIM Business Description

Other Exchanges INDOMIM:India
Address 45(P), KIADB Industrial Area, Hoskote, Bangalore, KA, IND, 562 114
Indo MIM Ltd is engaged in the business of manufacturing and trading of precision engineered metal products using metal injection molding (MIM) technology. Its capabilities include mold designing and tooling, finishing, and assembly operations. It also uses investment casting, precision machining, ceramic injection molding, and metal 3D printing technologies. Its products serve the automotive, defense, medical, consumer, and aerospace sectors. The majority of the company's revenue is derived from the sale of its products outside India, by exporting to North America, Europe and South East Asia.
17GF Score

Get the complete analysis for BOM:544837

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

₹868.60
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