Ahimsa Industries (NSE:AHIMSA) Beneish M-Score: 74.72 (As of Jun. 27, 2026)

What is Ahimsa Industries Beneish M-Score?

Ahimsa Industries NSE:AHIMSA 54 Beneish M-Score is 74.72 as of Jun. 27, 2026. GuruFocus rates NSE:AHIMSA with a GF Score™ of 54/100 and a GF Value™ of ₹7.37. The stock has 6 warning signs investors should review.

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 74.72 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:AHIMSA' s Beneish M-Score Range Over the Past 10 Years
Min: -3.87 Med: -2.2 Max: 74.72
Current: 74.72

During the past 12 years, the highest Beneish M-Score of Ahimsa Industries was 74.72. The lowest was -3.87. And the median was -2.20.

Ahimsa Industries Beneish M-Score Related Terms

Ahimsa Industries Beneish M-Score Historical Data

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The historical data trend for Ahimsa 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.

Ahimsa Industries Beneish M-Score Chart

Ahimsa Industries Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-3.51

-2.22

-2.73

16.38

74.72

Ahimsa Industries Semi-Annual Data
	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.73	0.00	16.38	74.72

NSE:AHIMSA vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Ahimsa 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.

Ahimsa Industries Beneish M-Score vs Chemicals Industry

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

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

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54GF Score

Ahimsa Industries Ltd NSE:AHIMSA

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Ahimsa 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 Ahimsa Industries for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 86.5452

0.528 * 0.1154

0.404 * 1.0319

0.892 * 0.0056

0.115 * 2.6649

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * -0.044151

0.327 * 1.9728

74.72

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹27.39 Mil.
Revenue was ₹0.54 Mil.
Gross Profit was ₹0.03 Mil.
Total Current Assets was ₹72.87 Mil.
Total Assets was ₹85.62 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.81 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.34 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹4.66 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-4.96 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-1.18 Mil.

Total Receivables was ₹56.01 Mil.
Revenue was ₹95.41 Mil.
Gross Profit was ₹0.53 Mil.
Total Current Assets was ₹75.31 Mil.
Total Assets was ₹88.35 Mil.
Property, Plant and Equipment(Net PPE) was ₹1.10 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.25 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.60 Mil.
Total Current Liabilities was ₹2.37 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.06 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)
	=	(27.387 / 0.539)	/	(56.013 / 95.406)
	=	50.810761	/	0.587101
	=	86.5452

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)
	=	(0.531 / 95.406)	/	(0.026 / 0.539)
	=	0.005566	/	0.048237
	=	0.1154

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 - (72.866 + 0.807) / 85.615)	/	(1 - (75.313 + 1.096) / 88.352)
	=	0.139485	/	0.135175
	=	1.0319

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
	=	0.539	/	95.406
	=	0.0056

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))
	=	(4.246 / (4.246 + 1.096))	/	(0.343 / (0.343 + 0.807))
	=	0.794833	/	0.298261
	=	2.6649

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 / 0.539)	/	(1.598 / 95.406)
	=	0	/	0.016749
	=	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 + 4.655) / 85.615)	/	((0.061 + 2.374) / 88.352)
	=	0.054371	/	0.02756
	=	1.9728

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
	=	(-4.957 - 0	-	-1.177)	/	85.615
	=	-0.044151

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.

Ahimsa Industries has a M-score of 74.72 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 74.72 mean?

Ahimsa Industries (NSE:AHIMSA) has a Beneish M-Score of 74.72 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ahimsa Industries and its competitors.

Is Ahimsa Industries' Beneish M-Score too high?

Ahimsa Industries' current Beneish M-Score is 74.72. Overall, Ahimsa Industries has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.

How does Ahimsa Industries' Beneish M-Score compare to LIN and SHW?

Ahimsa Industries' Beneish M-Score of 74.72 can be compared against companies in the Chemicals 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 Chemicals company?

A good Beneish M-Score depends on the Chemicals 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 Ahimsa Industries and its competitors. Ahimsa Industries's current Beneish M-Score is 74.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Ahimsa Industries stock overvalued right now?

Ahimsa Industries (NSE:AHIMSA) has a current Beneish M-Score of 74.72. The stock's GF Value™ is ₹7.37, compared to a current price of ₹24.70 — trading 235.1% above its estimated fair value. The current Beneish M-Score is 74.72. Ahimsa Industries' overall GF Score™ is 54/100 with 6 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 Ahimsa Industries (NSE:AHIMSA), the current Beneish M-Score is 74.72 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.

Is Ahimsa Industries (NSE:AHIMSA) Overvalued in 2026?

Based on GuruFocus' analysis, Ahimsa Industries stock appears to be overvalued. The current stock price of ₹24.70 is trading 235.1% above its estimated GF Value™ of ₹7.37.

Key valuation signals for NSE:AHIMSA:

Beneish M-Score: 74.72
GF Value™: ₹7.37 vs. price of ₹24.70 (235.1% above fair value)
GF Score™: 54/100 with 6 warning signs

No single metric tells the full story. See the NSE:AHIMSA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Ahimsa Industries Business Description

Industry Basic Materials Chemicals

Comparable Companies BOM:544324 BOM:500059 BOM:523652 BOM:526799 BOM:544366 BOM:507759 BOM:530429 BOM:531157 BOM:530027 BOM:507515 LIN XPAR:AI SHW ECL APD SHSE:600309 XSWX:GIVN SZSE:002466 XSWX:SIKA OCSE:NSIS B

Address C.G Road, Office No: 14, 5th Floor, G - Cabin, Kalapurnam Complex, Navrangpura, Ahmedabad, GJ, IND, 380009

Website https://www.ahimsaind.com

Ahimsa Industries Ltd is an Indian based firm. The company is engaged in manufacturing PET preforms under the brand name greenpet, and trading sugar confectionery machinery, plastic processing machinery, injection molds, and textiles. It is also engaged in flavours and fragrances manufacturing. The company operates in a single segment namely, PET performs, and has developed a market for its products in domestic as well as international areas.

54GF Score

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

₹24.70

Price

₹7.37

GF Value

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