Aesthetik Engineers (NSE:AESTHETIK) Beneish M-Score: -2.67 (As of Aug. 27, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

NSE:AESTHETIK Aesthetik Engineers Ltd NSE:AESTHETIK
46 GF Score
Price ₹72.00
! 3 Warning Signs
View Full Analysis

What is Aesthetik Engineers Beneish M-Score?

Aesthetik Engineers NSE:AESTHETIK +0.35% 46 Beneish M-Score is -2.67 as of Aug. 27, 2026. GuruFocus rates NSE:AESTHETIK with a GF Score™ of 46/100. The stock has 3 warning signs investors should review. Among 1,706 Construction companies, Aesthetik Engineers ranks better than 64.83% 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 -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:AESTHETIK' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.21   Max: 0.69
Current: -2.67

During the past 6 years, the highest Beneish M-Score of Aesthetik Engineers was 0.69. The lowest was -2.92. And the median was -2.21.

Aesthetik Engineers Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Aesthetik Engineers'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.

Aesthetik Engineers Beneish M-Score Chart

Aesthetik Engineers Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.92 -1.74 0.69 -2.67

Aesthetik Engineers Semi-Annual Data
Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 -2.92 -1.74 0.69 -2.67

NSE:AESTHETIK vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Aesthetik Engineers'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.

Aesthetik Engineers Beneish M-Score vs Construction Industry

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

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


NSE:AESTHETIK
46GF Score
Aesthetik Engineers Ltd NSE:AESTHETIK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Aesthetik Engineers 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 Aesthetik Engineers 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 * 0.4998+0.528 * 1.1495+0.404 * 0.6285+0.892 * 1.7834+0.115 * 1.346
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.084394-0.327 * 1.5388
=-2.67

* 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 ₹209.0 Mil.
Revenue was ₹1,182.1 Mil.
Gross Profit was ₹311.6 Mil.
Total Current Assets was ₹568.7 Mil.
Total Assets was ₹916.1 Mil.
Property, Plant and Equipment(Net PPE) was ₹253.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹15.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹382.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹26.6 Mil.
Net Income was ₹71.3 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹148.6 Mil.
 Total Receivables was ₹234.5 Mil.
Revenue was ₹662.9 Mil.
Gross Profit was ₹200.8 Mil.
Total Current Assets was ₹387.8 Mil.
Total Assets was ₹626.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹136.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹12.3 Mil.
Total Current Liabilities was ₹170.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹11.8 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)
=(208.988 / 1182.111) / (234.476 / 662.858)
=0.176792 / 0.353735
=0.4998

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)
=(200.845 / 662.858) / (311.583 / 1182.111)
=0.302999 / 0.263582
=1.1495

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 - (568.671 + 253.595) / 916.052) / (1 - (387.777 + 136.596) / 626.42)
=0.102381 / 0.162905
=0.6285

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
=1182.111 / 662.858
=1.7834

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))
=(11.179 / (11.179 + 136.596)) / (15.101 / (15.101 + 253.595))
=0.075649 / 0.056201
=1.346

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 / 1182.111) / (12.335 / 662.858)
=0 / 0.018609
=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)
=((26.638 + 382.435) / 916.052) / ((11.841 + 169.951) / 626.42)
=0.446561 / 0.290208
=1.5388

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
=(71.25 - 0 - 148.559) / 916.052
=-0.084394

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.

Aesthetik Engineers has a M-score of -2.67 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 -2.67 mean?
Aesthetik Engineers (NSE:AESTHETIK) has a Beneish M-Score of -2.67 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aesthetik Engineers and its competitors. According to the industry distribution chart, Aesthetik Engineers ranks #600 out of 1706 companies in the Construction industry, placing it in the top 35.2%.
Is Aesthetik Engineers' Beneish M-Score too high?
Aesthetik Engineers' current Beneish M-Score is -2.67. Based on the distribution chart, Aesthetik Engineers ranks #600 out of 1706 companies in the Construction industry, which is above the industry midpoint. Overall, Aesthetik Engineers has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Aesthetik Engineers' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Aesthetik Engineers ranks #600 out of 1706 companies for Beneish M-Score. This puts Aesthetik Engineers in the upper 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 Aesthetik Engineers and its competitors. Aesthetik Engineers's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aesthetik Engineers stock overvalued right now?
Aesthetik Engineers (NSE:AESTHETIK) has a current Beneish M-Score of -2.67. The current Beneish M-Score is -2.67. Aesthetik Engineers' overall GF Score™ is 46/100 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 Aesthetik Engineers (NSE:AESTHETIK), the current Beneish M-Score is -2.67 as of Aug. 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.

Aesthetik Engineers Business Description

Address Rajdanga Main Road, 1858/1, 5th Floor, Unit 503-505, Acropolis Mall, Kasba, Kolkata, WB, IND, 700107
Aesthetik Engineers Ltd designs, engineers, fabricates, and installs architectural facade systems. Its product range includes building facades such as structural glazing, curtain walls, and stone cladding, as well as aluminum doors, windows, railings, staircases, and Glassfibre Reinforced Concrete components. The company serves the hospitality, residential, commercial, and infrastructure sectors, operating in several Indian states. It generates revenue by providing integrated facade solutions from design through installation, leveraging manufacturing and supply chain capabilities.
46GF Score

Get the complete analysis for NSE:AESTHETIK

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

₹72.00
Price