Aluwind Infra-Tech (NSE:ALUWIND) Beneish M-Score: -0.93 (As of Jun. 27, 2026)


NSE:ALUWIND Aluwind Infra-Tech Ltd NSE:ALUWIND
43 GF Score
Price ₹49.35
! 5 Warning Signs
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What is Aluwind Infra-Tech Beneish M-Score?

Aluwind Infra-Tech NSE:ALUWIND 43 Beneish M-Score is -0.93 as of Jun. 27, 2026. GuruFocus rates NSE:ALUWIND with a GF Score™ of 43/100. The stock has 5 warning signs investors should review. Among 1,704 Construction companies, Aluwind Infra-Tech ranks worse than 91.43% 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 -0.93 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:ALUWIND' s Beneish M-Score Range Over the Past 10 Years
Min: -2.05   Med: -1.16   Max: -0.34
Current: -0.93

During the past 6 years, the highest Beneish M-Score of Aluwind Infra-Tech was -0.34. The lowest was -2.05. And the median was -1.16.

Aluwind Infra-Tech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Aluwind Infra-Tech'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.

Aluwind Infra-Tech Beneish M-Score Chart

Aluwind Infra-Tech Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.05 -1.39 -0.34 -0.93

Aluwind Infra-Tech Semi-Annual Data
Mar21 Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -1.39 0.00 -0.34 0.00 -0.93

NSE:ALUWIND vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Aluwind Infra-Tech'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.

Aluwind Infra-Tech Beneish M-Score vs Construction Industry

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

* The bar in red indicates where Aluwind Infra-Tech's Beneish M-Score falls into.


NSE:ALUWIND
43GF Score
Aluwind Infra-Tech Ltd NSE:ALUWIND
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aluwind Infra-Tech 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 Aluwind Infra-Tech 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 * 1.0249+0.528 * 1.0102+0.404 * 1.9858+0.892 * 1.2686+0.115 * 0.8947
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.167087-0.327 * 1.1878
=-0.93

* 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 ₹729 Mil.
Revenue was ₹1,386 Mil.
Gross Profit was ₹416 Mil.
Total Current Assets was ₹1,361 Mil.
Total Assets was ₹1,604 Mil.
Property, Plant and Equipment(Net PPE) was ₹96 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹17 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹875 Mil.
Long-Term Debt & Capital Lease Obligation was ₹26 Mil.
Net Income was ₹105 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-163 Mil.
 Total Receivables was ₹561 Mil.
Revenue was ₹1,092 Mil.
Gross Profit was ₹331 Mil.
Total Current Assets was ₹1,014 Mil.
Total Assets was ₹1,135 Mil.
Property, Plant and Equipment(Net PPE) was ₹69 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11 Mil.
Selling, General, & Admin. Expense(SGA) was ₹25 Mil.
Total Current Liabilities was ₹526 Mil.
Long-Term Debt & Capital Lease Obligation was ₹11 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)
=(729.282 / 1385.649) / (560.918 / 1092.248)
=0.526311 / 0.513545
=1.0249

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)
=(331.196 / 1092.248) / (415.936 / 1385.649)
=0.303224 / 0.300174
=1.0102

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 - (1360.788 + 95.854) / 1604.407) / (1 - (1014.027 + 68.793) / 1135.483)
=0.092099 / 0.046379
=1.9858

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
=1385.649 / 1092.248
=1.2686

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 / (11 + 68.793)) / (17.459 / (17.459 + 95.854))
=0.137857 / 0.154078
=0.8947

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 / 1385.649) / (24.669 / 1092.248)
=0 / 0.022586
=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)
=((26.149 + 875.18) / 1604.407) / ((11.274 + 525.782) / 1135.483)
=0.561783 / 0.472976
=1.1878

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
=(104.74 - 0 - -163.335) / 1604.407
=0.167087

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.

Aluwind Infra-Tech has a M-score of -0.93 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 -0.93 mean?
Aluwind Infra-Tech (NSE:ALUWIND) has a Beneish M-Score of -0.93 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aluwind Infra-Tech and its competitors. According to the industry distribution chart, Aluwind Infra-Tech ranks #1558 out of 1704 companies in the Construction industry, placing it in the top 91.4%.
Is Aluwind Infra-Tech's Beneish M-Score too high?
Aluwind Infra-Tech's current Beneish M-Score is -0.93. Based on the distribution chart, Aluwind Infra-Tech ranks #1558 out of 1704 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Aluwind Infra-Tech has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.
How does Aluwind Infra-Tech's Beneish M-Score compare to TT and JCI?
According to the Construction industry distribution chart, Aluwind Infra-Tech ranks #1558 out of 1704 companies for Beneish M-Score. This places Aluwind Infra-Tech 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 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 Aluwind Infra-Tech and its competitors. Aluwind Infra-Tech's current Beneish M-Score is -0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aluwind Infra-Tech stock overvalued right now?
Aluwind Infra-Tech (NSE:ALUWIND) has a current Beneish M-Score of -0.93. The current Beneish M-Score is -0.93. Aluwind Infra-Tech's overall GF Score™ is 43/100 with 5 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 Aluwind Infra-Tech (NSE:ALUWIND), the current Beneish M-Score is -0.93 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.

Aluwind Infra-Tech Business Description

Address Link Road, 604, Palm Spring Centre, Malad (West), Mumbai, MH, IND, 400064
Aluwind Infra-Tech Ltd formerly Aluwind Architectural Ltd is engaged in manufacturing and installing a diverse range of aluminum products. It includes windows, doors, curtain walls, cladding, and glazing systems, all meticulously crafted to meet the needs of architects, consultants, builders, institutions, and corporations.
43GF Score

Get the complete analysis for NSE:ALUWIND

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

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