Ascom Leasing & Investments (NSE:ASCOM) Beneish M-Score: -1.84 (As of Jun. 26, 2026)


NSE:ASCOM Ascom Leasing & Investments Ltd NSE:ASCOM
57 GF Score
Price ₹269.00
GF Value ₹125.78
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Ascom Leasing & Investments Beneish M-Score?

Ascom Leasing & Investments NSE:ASCOM +4.69% 57 Beneish M-Score is -1.84 as of Jun. 26, 2026. GuruFocus rates NSE:ASCOM with a GF Score™ of 57/100 and a GF Value™ of ₹125.78 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 483 Credit Services companies, Ascom Leasing & Investments ranks worse than 62.32% 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 -1.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ascom Leasing & Investments's Beneish M-Score or its related term are showing as below:

NSE:ASCOM' s Beneish M-Score Range Over the Past 10 Years
Min: -2.4   Med: -1.67   Max: 46.6
Current: -1.84

During the past 10 years, the highest Beneish M-Score of Ascom Leasing & Investments was 46.60. The lowest was -2.40. And the median was -1.67.

Ascom Leasing & Investments Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ascom Leasing & Investments'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.

Ascom Leasing & Investments Beneish M-Score Chart

Ascom Leasing & Investments Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.49 -2.06 -2.04 -2.40 -1.84

Ascom Leasing & Investments Semi-Annual Data
Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.49 -2.06 -2.04 -2.40 -1.84

NSE:ASCOM vs V, MA, AXP: Beneish M-Score Comparison

For the Credit Services subindustry, Ascom Leasing & Investments'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.

Ascom Leasing & Investments Beneish M-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Ascom Leasing & Investments's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ascom Leasing & Investments's Beneish M-Score falls into.


NSE:ASCOM
57GF Score
Ascom Leasing & Investments Ltd NSE:ASCOM
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ascom Leasing & Investments 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 Ascom Leasing & Investments 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 * 1.3797+0.528 * 1.0035+0.404 * 0.9058+0.892 * 1.0381+0.115 * 2.3153
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8333+4.679 * 0.076488-0.327 * 1.7459
=-1.84

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was ₹51.1 Mil.
Revenue was ₹127.2 Mil.
Gross Profit was ₹108.7 Mil.
Total Current Assets was ₹149.9 Mil.
Total Assets was ₹597.1 Mil.
Property, Plant and Equipment(Net PPE) was ₹5.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.8 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.7 Mil.
Total Current Liabilities was ₹27.1 Mil.
Long-Term Debt & Capital Lease Obligation was ₹72.2 Mil.
Net Income was ₹51.1 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹5.4 Mil.
 Total Receivables was ₹35.7 Mil.
Revenue was ₹122.6 Mil.
Gross Profit was ₹105.1 Mil.
Total Current Assets was ₹88.8 Mil.
Total Assets was ₹493.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹1.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2.0 Mil.
Total Current Liabilities was ₹23.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹24.1 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)
=(51.066 / 127.224) / (35.653 / 122.553)
=0.401387 / 0.290919
=1.3797

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)
=(105.052 / 122.553) / (108.678 / 127.224)
=0.857196 / 0.854226
=1.0035

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 - (149.874 + 5.284) / 597.114) / (1 - (88.836 + 1.469) / 493.704)
=0.740153 / 0.817087
=0.9058

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
=127.224 / 122.553
=1.0381

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))
=(0.627 / (0.627 + 1.469)) / (0.784 / (0.784 + 5.284))
=0.299141 / 0.129202
=2.3153

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)
=(1.711 / 127.224) / (1.978 / 122.553)
=0.013449 / 0.01614
=0.8333

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)
=((72.247 + 27.093) / 597.114) / ((24.067 + 22.977) / 493.704)
=0.166367 / 0.095288
=1.7459

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
=(51.116 - 0 - 5.444) / 597.114
=0.076488

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.

Ascom Leasing & Investments has a M-score of -1.84 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 -1.84 mean?
Ascom Leasing & Investments (NSE:ASCOM) has a Beneish M-Score of -1.84 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ascom Leasing & Investments and its competitors. According to the industry distribution chart, Ascom Leasing & Investments ranks #301 out of 483 companies in the Credit Services industry, placing it in the top 62.3%.
Is Ascom Leasing & Investments' Beneish M-Score too high?
Ascom Leasing & Investments' current Beneish M-Score is -1.84. Based on the distribution chart, Ascom Leasing & Investments ranks #301 out of 483 companies in the Credit Services industry, which is below the industry midpoint. Overall, Ascom Leasing & Investments has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ascom Leasing & Investments' Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Ascom Leasing & Investments ranks #301 out of 483 companies for Beneish M-Score. This places Ascom Leasing & Investments 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Ascom Leasing & Investments and its competitors. Ascom Leasing & Investments's current Beneish M-Score is -1.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ascom Leasing & Investments stock overvalued right now?
Based on GuruFocus' analysis, Ascom Leasing & Investments (NSE:ASCOM) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹125.78, compared to a current price of ₹269.00 — trading 113.9% above its estimated fair value. The current Beneish M-Score is -1.84. Ascom Leasing & Investments' overall GF Score™ is 57/100 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 Ascom Leasing & Investments (NSE:ASCOM), the current Beneish M-Score is -1.84 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 Ascom Leasing & Investments (NSE:ASCOM) Overvalued in 2026?

Based on GuruFocus' analysis, Ascom Leasing & Investments stock appears to be overvalued. The current stock price of ₹269.00 is trading 113.9% above its estimated GF Value™ of ₹125.78. GuruFocus considers Ascom Leasing & Investments to be Significantly Overvalued.

Key valuation signals for NSE:ASCOM:

  • Beneish M-Score: -1.84
  • GF Value™: ₹125.78 vs. price of ₹269.00 (113.9% above fair value)
  • GF Score™: 57/100 with 5 warning signs

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

Ascom Leasing & Investments Business Description

Address Aditya Group 331-336, VIP Road Vesu, 3rd Floor, Four Point Complex, Besides Maniba Park, Surat, GJ, IND, 395007
Ascom Leasing & Investments Ltd is a non-banking finance company engaged in the business of financing and lending. The company provides term loans, mortgage financing, personal loans, Gold loans, and Projected loans.
57GF Score

Get the complete analysis for NSE:ASCOM

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

₹269.00
Price
₹125.78
GF Value