Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Acetech E-CommerceNSE:ACETEC 21 Beneish M-Score is 2.20 as of Jul. 16, 2026, which is 77% above its 10-year median of 1.24. GuruFocus rates NSE:ACETEC with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 1,083 Retail - Cyclical companies, Acetech E-Commerce ranks worse than 97.23% 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 2.2 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Acetech E-Commerce's Beneish M-Score or its related term are showing as below:
NSE:ACETEC'
s Beneish M-Score Range Over the Past 10 Years
Min: 0.27 Med: 1.24 Max: 2.2
Current: 2.2
During the past 4 years, the highest Beneish M-Score of Acetech E-Commerce was 2.20. The lowest was 0.27. And the median was 1.24.
Acetech E-Commerce Beneish M-Score Related Terms
Acetech E-Commerce Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Acetech E-Commerce'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.
Acetech E-Commerce Beneish M-Score Chart
Acetech E-Commerce Annual Data
Trend
Mar23
Mar24
Mar25
Mar26
Beneish M-Score
0.00
0.00
0.27
2.20
Acetech E-Commerce Semi-Annual Data
Mar23
Mar24
Mar25
Sep25
Mar26
Beneish M-Score
0.00
0.00
0.27
0.00
2.20
NSE:ACETEC vs AMZN, BABA, PDD: Beneish M-Score Comparison
For the Internet Retail subindustry, Acetech E-Commerce'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.
Acetech E-Commerce Beneish M-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Acetech E-Commerce's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Acetech E-Commerce's Beneish M-Score falls into.
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 Acetech E-Commerce 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 * 2.8297
+
0.528 * 0.9679
+
0.404 * 1.2472
+
0.892 * 1.1776
+
0.115 * 1.4589
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.485637
-
0.327 * 0.2096
=
2.20
* 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.
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.
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))
=
(0.77 / (0.77 + 0.767))
/
(0.273 / (0.273 + 0.522))
=
0.500976
/
0.343396
=
1.4589
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
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
=
(102.784 - 0
-
-263.119)
/
753.449
=
0.485637
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.
Acetech E-Commerce has a M-score of 2.20 signals that the company is likely to be a manipulator.
Acetech E-Commerce (NSE:ACETEC) has a Beneish M-Score of 2.20 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Acetech E-Commerce and its competitors. This is 77% above median its historical median of 1.24. Over the past decade, Acetech E-Commerce's Beneish M-Score has ranged from 0.27 to 2.20. According to the industry distribution chart, Acetech E-Commerce ranks #1053 out of 1083 companies in the Retail - Cyclical industry, placing it in the top 97.2%.
Is Acetech E-Commerce's Beneish M-Score too high?
Acetech E-Commerce's current Beneish M-Score of 2.20 is 77% above median its 10-year median of 1.24. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 2.20. Based on the distribution chart, Acetech E-Commerce ranks #1053 out of 1083 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Acetech E-Commerce has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Acetech E-Commerce's Beneish M-Score compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, Acetech E-Commerce ranks #1053 out of 1083 companies for Beneish M-Score. This places Acetech E-Commerce in the lower half of its industry. Historically, Acetech E-Commerce's own Beneish M-Score has ranged from 0.27 to 2.20 over the past decade. 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Acetech E-Commerce and its competitors. Acetech E-Commerce's current Beneish M-Score is 2.20, which is 77% above median its own 10-year median of 1.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Acetech E-Commerce stock overvalued right now?
Acetech E-Commerce (NSE:ACETEC) has a current Beneish M-Score of 2.20. The current Beneish M-Score is 2.20, which is 77% above median its 10-year median of 1.24. Acetech E-Commerce's overall GF Score™ is 21/100 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 Acetech E-Commerce (NSE:ACETEC), the current Beneish M-Score is 2.20 as of Jul. 16, 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.
Acetech E-Commerce is engaged in the e-commerce business focused on drop shipping, teleshopping, and direct-to-consumer strategies. It distributes products through many online platforms such as Naaptol, Shop101, and GlowRoad, as well as through its own portals. The company's range of activities includes: Product Research and Identification, Sourcing and Procurement, Warehousing and Fulfilment, E-Commerce Platform Management, Marketing and Advertising, and Sales and Cross-Border Expansion. The majority of the company's revenue is generated from the procurement and sale of products and service income, such as commission, incentive, and advertisement income. Geographically, it operates predominantly in India.
21GF Score
Get the complete analysis for NSE:ACETEC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:ACETEC has been successfully added to your 
