Dadabhoy Cement Industries (KAR:DBCI) Beneish M-Score: 0.00 (As of Jul. 12, 2026)


KAR:DBCI Dadabhoy Cement Industries Ltd KAR:DBCI
30 GF Score
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! 2 Warning Signs
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What is Dadabhoy Cement Industries Beneish M-Score?

Dadabhoy Cement Industries KAR:DBCI +10.47% 30 Beneish M-Score is 0.00 as of Jul. 12, 2026. GuruFocus rates KAR:DBCI with a GF Score™ of 30/100. The stock has 2 warning signs investors should review. Among 387 Building Materials companies, Dadabhoy Cement Industries ranks worse than 258397.67% 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 Dadabhoy Cement Industries's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Dadabhoy Cement Industries was 0.00. The lowest was 0.00. And the median was 0.00.

Dadabhoy Cement Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Dadabhoy Cement 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.

Dadabhoy Cement Industries Beneish M-Score Chart

Dadabhoy Cement Industries Annual Data
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Dadabhoy Cement Industries Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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KAR:DBCI vs CRH, VMC, MLM: Beneish M-Score Comparison

For the Building Materials subindustry, Dadabhoy Cement 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.

Dadabhoy Cement Industries Beneish M-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Dadabhoy Cement Industries's Beneish M-Score distribution charts can be found below:

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


KAR:DBCI
30GF Score
Dadabhoy Cement Industries Ltd KAR:DBCI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Dadabhoy Cement 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 Dadabhoy Cement 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ₨5.30 Mil.
Revenue was 0 + 0 + 0 + 0 = ₨0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = ₨0.00 Mil.
Total Current Assets was ₨218.77 Mil.
Total Assets was ₨227.89 Mil.
Property, Plant and Equipment(Net PPE) was ₨9.12 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨0.95 Mil.
Selling, General, & Admin. Expense(SGA) was ₨9.93 Mil.
Total Current Liabilities was ₨7.13 Mil.
Long-Term Debt & Capital Lease Obligation was ₨0.00 Mil.
Net Income was -7.723 + -5.201 + -3.122 + -7.173 = ₨-23.22 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₨0.00 Mil.
Cash Flow from Operations was -4.404 + -5.537 + -3.912 + -6.698 = ₨-20.55 Mil.
 Total Receivables was ₨5.03 Mil.
Revenue was 0 + 0 + 0 + 0 = ₨0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = ₨0.00 Mil.
Total Current Assets was ₨242.68 Mil.
Total Assets was ₨247.49 Mil.
Property, Plant and Equipment(Net PPE) was ₨4.81 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨1.04 Mil.
Selling, General, & Admin. Expense(SGA) was ₨8.60 Mil.
Total Current Liabilities was ₨7.50 Mil.
Long-Term Debt & Capital Lease Obligation was ₨0.00 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)
=(5.299 / 0) / (5.033 / 0)
= /
=

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)
=(0 / 0) / (0 / 0)
= /
=

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 - (218.767 + 9.121) / 227.888) / (1 - (242.68 + 4.813) / 247.493)
=0 / 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
=0 / 0
=

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))
=(1.037 / (1.037 + 4.813)) / (0.948 / (0.948 + 9.121))
=0.177265 / 0.09415
=

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)
=(9.931 / 0) / (8.596 / 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)
=((0 + 7.126) / 227.888) / ((0 + 7.496) / 247.493)
=0.03127 / 0.030288
=

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
=(-23.219 - 0 - -20.551) / 227.888
=-0.011708

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?
Dadabhoy Cement Industries (KAR:DBCI) has a Beneish M-Score of 0.00 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dadabhoy Cement Industries and its competitors. According to the industry distribution chart, Dadabhoy Cement Industries ranks #999999 out of 387 companies in the Building Materials industry.
Is Dadabhoy Cement Industries' Beneish M-Score too high?
Dadabhoy Cement Industries' current Beneish M-Score is 0.00. Based on the distribution chart, Dadabhoy Cement Industries ranks #999999 out of 387 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, Dadabhoy Cement Industries has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Dadabhoy Cement Industries' Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Dadabhoy Cement Industries ranks #999999 out of 387 companies for Beneish M-Score. This places Dadabhoy Cement 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 Building Materials company?
A good Beneish M-Score depends on the Building Materials 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 Dadabhoy Cement Industries and its competitors. Dadabhoy Cement 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 Dadabhoy Cement Industries stock overvalued right now?
Dadabhoy Cement Industries (KAR:DBCI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Dadabhoy Cement Industries' overall GF Score™ is 30/100 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 Dadabhoy Cement Industries (KAR:DBCI), the current Beneish M-Score is 0.00 as of Jul. 12, 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.

Dadabhoy Cement Industries Business Description

Address Ittehad Lane 12, Plot No. 30-C, Noor Centre Office No.4, 2nd Floor, Phase VII Defence Officer Housing Authority, Karachi, SD, PAK
Dadabhoy Cement Industries Ltd is a Pakistan-based company engaged in the manufacture and sale of cement. The company produces ordinary Portland cement, slag cement, and sulphate-resistant cement products. It operates a manufacturing facility that uses modern technology and is known for introducing slag cement in the country. The company is a subsidiary of Leo (Pvt) Limited. The company's business activities include ongoing optimization and capacity enhancement of its cement production plant.
30GF Score

Get the complete analysis for KAR:DBCI

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

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