Auro Impex & Chemicals (NSE:AUROIMPEX) Beneish M-Score: -2.96 (As of Aug. 18, 2026)

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NSE:AUROIMPEX Auro Impex & Chemicals Ltd NSE:AUROIMPEX
46 GF Score
Price ₹26.10
GF Value ₹55.34
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Auro Impex & Chemicals Beneish M-Score?

Auro Impex & Chemicals NSE:AUROIMPEX 46 Beneish M-Score is -2.96 as of Aug. 18, 2026. GuruFocus rates NSE:AUROIMPEX with a GF Score™ of 46/100 and a GF Value™ of ₹55.34 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,907 Industrial Products companies, Auro Impex & Chemicals ranks better than 86.65% 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 -2.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Auro Impex & Chemicals's Beneish M-Score or its related term are showing as below:

NSE:AUROIMPEX' s Beneish M-Score Range Over the Past 10 Years
Min: -2.96   Med: -0.91   Max: -0.21
Current: -2.96

During the past 5 years, the highest Beneish M-Score of Auro Impex & Chemicals was -0.21. The lowest was -2.96. And the median was -0.91.

Auro Impex & Chemicals Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Auro Impex & Chemicals'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.

Auro Impex & Chemicals Beneish M-Score Chart

Auro Impex & Chemicals Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -0.91 -0.21 -2.96

Auro Impex & Chemicals Semi-Annual Data
Mar22 Sep22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -0.91 0.00 -0.21 0.00 -2.96

NSE:AUROIMPEX vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Auro Impex & Chemicals'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.

Auro Impex & Chemicals Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Auro Impex & Chemicals's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Auro Impex & Chemicals's Beneish M-Score falls into.


NSE:AUROIMPEX
46GF Score
Auro Impex & Chemicals Ltd NSE:AUROIMPEX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Auro Impex & Chemicals 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 Auro Impex & Chemicals 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 * 0.5891+0.528 * 0.9025+0.404 * 2.5098+0.892 * 0.9515+0.115 * 0.9081
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.176297-0.327 * 0.8606
=-2.96

* 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 ₹252 Mil.
Revenue was ₹2,502 Mil.
Gross Profit was ₹216 Mil.
Total Current Assets was ₹836 Mil.
Total Assets was ₹1,094 Mil.
Property, Plant and Equipment(Net PPE) was ₹220 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹501 Mil.
Long-Term Debt & Capital Lease Obligation was ₹55 Mil.
Net Income was ₹42 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹234 Mil.
 Total Receivables was ₹450 Mil.
Revenue was ₹2,630 Mil.
Gross Profit was ₹205 Mil.
Total Current Assets was ₹1,000 Mil.
Total Assets was ₹1,204 Mil.
Property, Plant and Equipment(Net PPE) was ₹187 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹35 Mil.
Total Current Liabilities was ₹634 Mil.
Long-Term Debt & Capital Lease Obligation was ₹78 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)
=(252.308 / 2502.022) / (450.151 / 2629.521)
=0.100842 / 0.171191
=0.5891

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)
=(205.182 / 2629.521) / (216.314 / 2502.022)
=0.07803 / 0.086456
=0.9025

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 - (835.884 + 220.482) / 1094.145) / (1 - (1000.049 + 187.484) / 1204.098)
=0.034528 / 0.013757
=2.5098

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
=2502.022 / 2629.521
=0.9515

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))
=(4.653 / (4.653 + 187.484)) / (6.041 / (6.041 + 220.482))
=0.024217 / 0.026668
=0.9081

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 / 2502.022) / (35.265 / 2629.521)
=0 / 0.013411
=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)
=((55.217 + 501.351) / 1094.145) / ((78.184 + 633.555) / 1204.098)
=0.508678 / 0.591097
=0.8606

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
=(41.594 - 0 - 234.489) / 1094.145
=-0.176297

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.

Auro Impex & Chemicals has a M-score of -2.96 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 -2.96 mean?
Auro Impex & Chemicals (NSE:AUROIMPEX) has a Beneish M-Score of -2.96 as of Aug. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Auro Impex & Chemicals and its competitors. According to the industry distribution chart, Auro Impex & Chemicals ranks #388 out of 2907 companies in the Industrial Products industry, placing it in the top 13.3%.
Is Auro Impex & Chemicals' Beneish M-Score too high?
Auro Impex & Chemicals' current Beneish M-Score is -2.96. Based on the distribution chart, Auro Impex & Chemicals ranks #388 out of 2907 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Auro Impex & Chemicals has a GF Score™ of 46/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Auro Impex & Chemicals' Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Auro Impex & Chemicals ranks #388 out of 2907 companies for Beneish M-Score. This places Auro Impex & Chemicals in the top 13% of its industry — outperforming the majority of peers. 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Auro Impex & Chemicals and its competitors. Auro Impex & Chemicals's current Beneish M-Score is -2.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Auro Impex & Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Auro Impex & Chemicals (NSE:AUROIMPEX) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹55.34, compared to a current price of ₹26.10 — trading 52.8% below its estimated fair value. The current Beneish M-Score is -2.96. Auro Impex & Chemicals' 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 Auro Impex & Chemicals (NSE:AUROIMPEX), the current Beneish M-Score is -2.96 as of Aug. 18, 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 Auro Impex & Chemicals (NSE:AUROIMPEX) Overvalued in 2026?

Based on GuruFocus' analysis, Auro Impex & Chemicals stock appears to be undervalued. The current stock price of ₹26.10 is trading 52.8% below its estimated GF Value™ of ₹55.34. GuruFocus considers Auro Impex & Chemicals to be Significantly Undervalued.

Key valuation signals for NSE:AUROIMPEX:

  • Beneish M-Score: -2.96
  • GF Value™: ₹55.34 vs. price of ₹26.10 (52.8% below fair value)
  • GF Score™: 46/100 with 3 warning signs

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

Auro Impex & Chemicals Business Description

Address 740A, 32, K. L. Saigal Sarani, Block- P, New Alipore, Kolkata, WB, IND, 700053
Auro Impex & Chemicals Ltd manufactures Collecting Electrodes, Discharge Electrodes, and other ESP internal spare parts for OEMs and service providers. It handles sourcing, designing, manufacturing, and quality testing as per OEM specifications, working with technologies like electrostatic precipitators, scrubbers, fabric filters, and FGD systems. Products include electromagnetic rappers, porcelain bushings, silo manufacturing, tank fabrication, and duct fabrication. It focuses on manufacturing, exporting, and supplying ESP parts and electrical control solutions to lower emissions. The company is ISO certified with a widespread domestic and international network.
46GF Score

Get the complete analysis for NSE:AUROIMPEX

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

₹26.10
Price
₹55.34
GF Value