Chetana Education (NSE:CHETANA) Beneish M-Score: 0.00 (As of Aug. 26, 2026)

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NSE:CHETANA Chetana Education Ltd NSE:CHETANA
19 GF Score
Price ₹43.35
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What is Chetana Education Beneish M-Score?

Chetana Education NSE:CHETANA 19 Beneish M-Score is 0.00 as of Aug. 26, 2026. GuruFocus rates NSE:CHETANA with a GF Score™ of 19/100.

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.

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

During the past 3 years, the highest Beneish M-Score of Chetana Education was 0.00. The lowest was 0.00. And the median was 0.00.

Chetana Education Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Chetana Education'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.

Chetana Education Beneish M-Score Chart

Chetana Education Annual Data
Trend Mar22 Mar23 Mar24
Beneish M-Score
0.00 0.00 -2.42

Chetana Education Semi-Annual Data
Mar22 Mar23 Mar24
Beneish M-Score 0.00 0.00 -2.42

NSE:CHETANA vs NYT: Beneish M-Score Comparison

For the Publishing subindustry, Chetana Education'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.

Chetana Education Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Chetana Education's Beneish M-Score distribution charts can be found below:

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


NSE:CHETANA
19GF Score
Chetana Education Ltd NSE:CHETANA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Chetana Education 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 Chetana Education 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 * 0.851+0.528 * 0.8904+0.404 * 0.9213+0.892 * 1.2375+0.115 * 0.5303
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.6782+4.679 * 0.053836-0.327 * 1.0108
=-2.42

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was ₹541.6 Mil.
Revenue was ₹935.1 Mil.
Gross Profit was ₹535.3 Mil.
Total Current Assets was ₹926.2 Mil.
Total Assets was ₹947.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹16.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.8 Mil.
Selling, General, & Admin. Expense(SGA) was ₹22.6 Mil.
Total Current Liabilities was ₹604.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹83.6 Mil.
Net Income was ₹120.3 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹69.3 Mil.
 Total Receivables was ₹514.3 Mil.
Revenue was ₹755.6 Mil.
Gross Profit was ₹385.2 Mil.
Total Current Assets was ₹806.4 Mil.
Total Assets was ₹831.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹20.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10.9 Mil.
Total Current Liabilities was ₹530.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹66.9 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)
=(541.632 / 935.055) / (514.323 / 755.571)
=0.579251 / 0.680708
=0.851

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)
=(385.159 / 755.571) / (535.346 / 935.055)
=0.509759 / 0.572529
=0.8904

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 - (926.235 + 16.896) / 947.509) / (1 - (806.425 + 20.912) / 831.508)
=0.004621 / 0.005016
=0.9213

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
=935.055 / 755.571
=1.2375

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))
=(4.203 / (4.203 + 20.912)) / (7.79 / (7.79 + 16.896))
=0.16735 / 0.315563
=0.5303

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)
=(22.57 / 935.055) / (10.867 / 755.571)
=0.024138 / 0.014383
=1.6782

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)
=((83.569 + 604.278) / 947.509) / ((66.912 + 530.281) / 831.508)
=0.725953 / 0.718205
=1.0108

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
=(120.347 - 0 - 69.337) / 947.509
=0.053836

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.

Chetana Education has a M-score of -2.42 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 0.00 mean?
Chetana Education (NSE:CHETANA) has a Beneish M-Score of 0.00 as of Aug. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chetana Education and its competitors.
Is Chetana Education's Beneish M-Score too high?
Chetana Education's current Beneish M-Score is 0.00. Overall, Chetana Education has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Chetana Education's Beneish M-Score compare to NYT?
Chetana Education's Beneish M-Score of 0.00 can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Chetana Education and its competitors. Chetana Education's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chetana Education stock overvalued right now?
Chetana Education (NSE:CHETANA) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Chetana Education's overall GF Score™ is 19/100. 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 Chetana Education (NSE:CHETANA), the current Beneish M-Score is 0.00 as of Aug. 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.

Chetana Education Business Description

Address Delisle Road, 401, E-Wing, B & C Block, Trade Link, Kamala Mill, Mumbai, MH, IND, 400013
Chetana Education Ltd is a content-based company, engaged in educational book publishing for the CBSE/State Board curriculum catering to the K-12 segment. It provide access to educational software for learning videos (for teachers and Students) accessible through QR (Quick Response) codes. The company is focus on serving the Maharashtra State Board and Central Board of Secondary Education (CBSE), covering the spectrum of education books from early pre-primary learning to K12 course.
19GF Score

Get the complete analysis for NSE:CHETANA

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

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