Aptus Value Housing Finance India (NSE:APTUS) Beneish M-Score: -1.51 (As of Jun. 26, 2026)


NSE:APTUS Aptus Value Housing Finance India Ltd NSE:APTUS
69 GF Score
Price ₹265.10
GF Value ₹472.82
Valuation Possible Value Trap
! 2 Warning Signs
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What is Aptus Value Housing Finance India Beneish M-Score?

Aptus Value Housing Finance India NSE:APTUS +0.15% 69 Beneish M-Score is -1.51 as of Jun. 26, 2026. GuruFocus rates NSE:APTUS with a GF Score™ of 69/100 and a GF Value™ of ₹472.82 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 1,397 Banks companies, Aptus Value Housing Finance India ranks worse than 96.06% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -1.51 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Aptus Value Housing Finance India's Beneish M-Score or its related term are showing as below:

NSE:APTUS' s Beneish M-Score Range Over the Past 10 Years
Min: -1.51   Med: -1.29   Max: -1.16
Current: -1.51

During the past 8 years, the highest Beneish M-Score of Aptus Value Housing Finance India was -1.16. The lowest was -1.51. And the median was -1.29.

NSE:APTUS
69GF Score
Aptus Value Housing Finance India Ltd NSE:APTUS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aptus Value Housing Finance India 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 Aptus Value Housing Finance India 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+0.528 * 1+0.404 * 1.0001+0.892 * 1.2696+0.115 * 1.0174
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.117673-0.327 * 0.9909
=-1.51

* 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 ₹0 Mil.
Revenue was ₹15,970 Mil.
Gross Profit was ₹15,970 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹130,477 Mil.
Property, Plant and Equipment(Net PPE) was ₹381 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹133 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹79,038 Mil.
Net Income was ₹9,429 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-5,924 Mil.
 Total Receivables was ₹0 Mil.
Revenue was ₹12,579 Mil.
Gross Profit was ₹12,579 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹112,434 Mil.
Property, Plant and Equipment(Net PPE) was ₹338 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹121 Mil.
Selling, General, & Admin. Expense(SGA) was ₹72 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹68,731 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)
=(0 / 15970.368) / (0 / 12578.874)
=0 / 0
=1

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)
=(12578.874 / 12578.874) / (15970.368 / 15970.368)
=1 / 1
=1

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 - (0 + 380.896) / 130476.573) / (1 - (0 + 338.026) / 112434.082)
=0.997081 / 0.996994
=1.0001

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
=15970.368 / 12578.874
=1.2696

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))
=(120.625 / (120.625 + 338.026)) / (132.792 / (132.792 + 380.896))
=0.263 / 0.258507
=1.0174

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 / 15970.368) / (71.828 / 12578.874)
=0 / 0.00571
=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)
=((79037.688 + 0) / 130476.573) / ((68730.872 + 0) / 112434.082)
=0.605762 / 0.611299
=0.9909

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
=(9429.439 - 0 - -5924.093) / 130476.573
=0.117673

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.

Aptus Value Housing Finance India has a M-score of -1.51 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 -1.51 mean?
Aptus Value Housing Finance India (NSE:APTUS) has a Beneish M-Score of -1.51 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aptus Value Housing Finance India and its competitors. According to the industry distribution chart, Aptus Value Housing Finance India ranks #1342 out of 1397 companies in the Banks industry, placing it in the top 96.1%.
Is Aptus Value Housing Finance India's Beneish M-Score too high?
Aptus Value Housing Finance India's current Beneish M-Score is -1.51. Based on the distribution chart, Aptus Value Housing Finance India ranks #1342 out of 1397 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Aptus Value Housing Finance India has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Aptus Value Housing Finance India's Beneish M-Score compare to RKT and FNMA?
According to the Banks industry distribution chart, Aptus Value Housing Finance India ranks #1342 out of 1397 companies for Beneish M-Score. This places Aptus Value Housing Finance India 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Aptus Value Housing Finance India and its competitors. Aptus Value Housing Finance India's current Beneish M-Score is -1.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aptus Value Housing Finance India stock overvalued right now?
Based on GuruFocus' analysis, Aptus Value Housing Finance India (NSE:APTUS) is currently considered Possible Value Trap. The stock's GF Value™ is ₹472.82, compared to a current price of ₹265.10 — trading 43.9% below its estimated fair value. The current Beneish M-Score is -1.51. Aptus Value Housing Finance India's overall GF Score™ is 69/100 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 Aptus Value Housing Finance India (NSE:APTUS), the current Beneish M-Score is -1.51 as of Jun. 26, 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 Aptus Value Housing Finance India (NSE:APTUS) Overvalued in 2026?

Based on GuruFocus' analysis, Aptus Value Housing Finance India stock appears to be undervalued. The current stock price of ₹265.10 is trading 43.9% below its estimated GF Value™ of ₹472.82. GuruFocus considers Aptus Value Housing Finance India to be Possible Value Trap.

Key valuation signals for NSE:APTUS:

  • Beneish M-Score: -1.51
  • GF Value™: ₹472.82 vs. price of ₹265.10 (43.9% below fair value)
  • GF Score™: 69/100 with 2 warning signs

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

Aptus Value Housing Finance India Business Description

Other Exchanges 543335:India
Address No. 205, Poonamallee High Road, No. 8B, Doshi Towers, 8th Floor, Kilpauk, Chennai, TN, IND, 600010
Aptus Value Housing Finance India Ltd is a retail-focused housing finance company that predominantly serves low and middle-income customers in the rural and semi-urban markets of India. The company offers home loans to retail customers to purchase homes, construct residential properties, house improvement and extension, loans against property, and business loans. It undertakes all types of lending activities such as sourcing, underwriting, valuation, and legal assessment of collateral, credit assessment, and collection. The company's only segment is providing long-term housing finance, loans against property, and refinance loans. Geographically, it derives revenue from India.
69GF Score

Get the complete analysis for NSE:APTUS

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

₹265.10
Price
₹472.82
GF Value