Abha Power and Steel (NSE:ABHAPOWER) Beneish M-Score: -1.82 (As of Jun. 27, 2026)


NSE:ABHAPOWER Abha Power and Steel Ltd NSE:ABHAPOWER
12 GF Score
Price ₹26.90
! 3 Warning Signs
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What is Abha Power and Steel Beneish M-Score?

Abha Power and Steel NSE:ABHAPOWER -3.93% 12 Beneish M-Score is -1.82 as of Jun. 27, 2026. GuruFocus rates NSE:ABHAPOWER with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 592 Steel companies, Abha Power and Steel ranks worse than 78.38% 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.

Good Sign:

Beneish M-Score -1.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:ABHAPOWER' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77   Med: -2.06   Max: -1.82
Current: -1.82

During the past 5 years, the highest Beneish M-Score of Abha Power and Steel was -1.82. The lowest was -2.77. And the median was -2.06.

Abha Power and Steel Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Abha Power and Steel'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.

Abha Power and Steel Beneish M-Score Chart

Abha Power and Steel Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -2.77 -2.06 -1.82

Abha Power and Steel Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -2.77 0.00 -2.06 0.00 -1.82

NSE:ABHAPOWER vs NUE, STLD, RS: Beneish M-Score Comparison

For the Steel subindustry, Abha Power and Steel'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.

Abha Power and Steel Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, Abha Power and Steel's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Abha Power and Steel's Beneish M-Score falls into.


NSE:ABHAPOWER
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Abha Power and Steel Ltd NSE:ABHAPOWER
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Abha Power and Steel 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 Abha Power and Steel 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 * 1.4577+0.528 * 1.1087+0.404 * 1.9547+0.892 * 0.8865+0.115 * 1.5341
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.067343-0.327 * 1.0522
=-1.82

* 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 ₹131.7 Mil.
Revenue was ₹622.2 Mil.
Gross Profit was ₹247.7 Mil.
Total Current Assets was ₹383.0 Mil.
Total Assets was ₹855.6 Mil.
Property, Plant and Equipment(Net PPE) was ₹449.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11.7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹213.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹75.4 Mil.
Net Income was ₹24.6 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹82.2 Mil.
 Total Receivables was ₹101.9 Mil.
Revenue was ₹701.8 Mil.
Gross Profit was ₹309.8 Mil.
Total Current Assets was ₹527.7 Mil.
Total Assets was ₹791.8 Mil.
Property, Plant and Equipment(Net PPE) was ₹253.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹10.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹24.5 Mil.
Total Current Liabilities was ₹161.8 Mil.
Long-Term Debt & Capital Lease Obligation was ₹92.0 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)
=(131.736 / 622.151) / (101.943 / 701.801)
=0.211743 / 0.145259
=1.4577

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)
=(309.839 / 701.801) / (247.737 / 622.151)
=0.441491 / 0.398194
=1.1087

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 - (383.044 + 449.86) / 855.618) / (1 - (527.677 + 253.342) / 791.772)
=0.026547 / 0.013581
=1.9547

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
=622.151 / 701.801
=0.8865

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))
=(10.27 / (10.27 + 253.342)) / (11.722 / (11.722 + 449.86))
=0.038959 / 0.025395
=1.5341

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 / 622.151) / (24.53 / 701.801)
=0 / 0.034953
=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)
=((75.392 + 213.224) / 855.618) / ((91.992 + 161.837) / 791.772)
=0.337319 / 0.320583
=1.0522

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
=(24.603 - 0 - 82.223) / 855.618
=-0.067343

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.

Abha Power and Steel has a M-score of -1.82 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 -1.82 mean?
Abha Power and Steel (NSE:ABHAPOWER) has a Beneish M-Score of -1.82 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Abha Power and Steel and its competitors. According to the industry distribution chart, Abha Power and Steel ranks #464 out of 592 companies in the Steel industry, placing it in the top 78.4%.
Is Abha Power and Steel's Beneish M-Score too high?
Abha Power and Steel's current Beneish M-Score is -1.82. Based on the distribution chart, Abha Power and Steel ranks #464 out of 592 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Abha Power and Steel has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Abha Power and Steel's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Abha Power and Steel ranks #464 out of 592 companies for Beneish M-Score. This places Abha Power and Steel 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Abha Power and Steel and its competitors. Abha Power and Steel's current Beneish M-Score is -1.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Abha Power and Steel stock overvalued right now?
Abha Power and Steel (NSE:ABHAPOWER) has a current Beneish M-Score of -1.82. The current Beneish M-Score is -1.82. Abha Power and Steel's overall GF Score™ is 12/100 with 3 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 Abha Power and Steel (NSE:ABHAPOWER), the current Beneish M-Score is -1.82 as of Jun. 27, 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.

Abha Power and Steel Business Description

Address Silpahri Industrial State, Hardikala, Bilaspur, CT, IND, 495001
Abha Power and Steel Ltd is engaged in the business of iron and steel foundry, particularly in casting and manufacturing customized products in mostly all grades of iron and steel. Its versatile product portfolio covers all grades of mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, low alloy and high alloy castings (high CR & high Ni), HRCS & WRCS, from as small as 0.5 Kgs to 6 Tonnes single finished casting.
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Get the complete analysis for NSE:ABHAPOWER

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

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