Fascinate Textiles (NSE:FASCINATE) Beneish M-Score: 0.00 (As of Sep. 01, 2026)

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NSE:FASCINATE Fascinate Textiles Ltd NSE:FASCINATE
6 GF Score
Price ₹88.95
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What is Fascinate Textiles Beneish M-Score?

Fascinate Textiles NSE:FASCINATE -4.97% 6 Beneish M-Score is 0.00 as of Sep. 01, 2026. GuruFocus rates NSE:FASCINATE with a GF Score™ of 6/100. Among 1,003 Manufacturing - Apparel & Accessories companies, Fascinate Textiles ranks worse than 99700.8% 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.

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

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

Fascinate Textiles Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Fascinate Textiles'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.

Fascinate Textiles Beneish M-Score Chart

Fascinate Textiles Annual Data
Trend Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00

Fascinate Textiles Quarterly Data
Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.00

NSE:FASCINATE vs RL, LEVI, VFC: Beneish M-Score Comparison

For the Apparel Manufacturing subindustry, Fascinate Textiles'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.

Fascinate Textiles Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Fascinate Textiles's Beneish M-Score distribution charts can be found below:

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


NSE:FASCINATE
6GF Score
Fascinate Textiles Ltd NSE:FASCINATE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Fascinate Textiles 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 Fascinate Textiles 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 * 1.0474+0.528 * 0.9757+0.404 * 0.1891+0.892 * 1.9434+0.115 * 0.8771
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5886+4.679 * 0.280016-0.327 * 0.8781
=-0.53

* 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 ₹353 Mil.
Revenue was ₹1,171 Mil.
Gross Profit was ₹315 Mil.
Total Current Assets was ₹871 Mil.
Total Assets was ₹927 Mil.
Property, Plant and Equipment(Net PPE) was ₹56 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹24 Mil.
Total Current Liabilities was ₹552 Mil.
Long-Term Debt & Capital Lease Obligation was ₹60 Mil.
Net Income was ₹151 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-109 Mil.
 Total Receivables was ₹173 Mil.
Revenue was ₹602 Mil.
Gross Profit was ₹158 Mil.
Total Current Assets was ₹365 Mil.
Total Assets was ₹423 Mil.
Property, Plant and Equipment(Net PPE) was ₹57 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹21 Mil.
Total Current Liabilities was ₹265 Mil.
Long-Term Debt & Capital Lease Obligation was ₹53 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)
=(352.774 / 1170.869) / (173.303 / 602.473)
=0.301292 / 0.287653
=1.0474

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)
=(157.984 / 602.473) / (314.679 / 1170.869)
=0.262226 / 0.268757
=0.9757

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 - (871.366 + 56) / 927.472) / (1 - (365.38 + 56.915) / 422.55)
=0.000114 / 0.000603
=0.1891

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
=1170.869 / 602.473
=1.9434

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))
=(5.161 / (5.161 + 56.915)) / (5.864 / (5.864 + 56))
=0.08314 / 0.094789
=0.8771

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)
=(23.87 / 1170.869) / (20.867 / 602.473)
=0.020387 / 0.034636
=0.5886

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)
=((60.204 + 552.374) / 927.472) / ((52.839 + 264.977) / 422.55)
=0.660481 / 0.752138
=0.8781

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
=(150.97 - 0 - -108.737) / 927.472
=0.280016

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.

Fascinate Textiles has a M-score of -0.53 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 0.00 mean?
Fascinate Textiles (NSE:FASCINATE) has a Beneish M-Score of 0.00 as of Sep. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fascinate Textiles and its competitors. According to the industry distribution chart, Fascinate Textiles ranks #999999 out of 1003 companies in the Manufacturing - Apparel & Accessories industry.
Is Fascinate Textiles' Beneish M-Score too high?
Fascinate Textiles' current Beneish M-Score is 0.00. Based on the distribution chart, Fascinate Textiles ranks #999999 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Fascinate Textiles has a GF Score™ of 6/100, reflecting its overall financial health beyond just this single metric.
How does Fascinate Textiles' Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Fascinate Textiles ranks #999999 out of 1003 companies for Beneish M-Score. This places Fascinate Textiles 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Fascinate Textiles and its competitors. Fascinate Textiles'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 Fascinate Textiles stock overvalued right now?
Fascinate Textiles (NSE:FASCINATE) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Fascinate Textiles' overall GF Score™ is 6/100. 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 Fascinate Textiles (NSE:FASCINATE), the current Beneish M-Score is 0.00 as of Sep. 01, 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.

Fascinate Textiles Business Description

Address 3/A Kutul Sahi Road, 3/A, Digberia, Barasat, Barasat North 24 Parganas, Barasat-1, Ward No. 29, Barasat, WB, IND, 700124
Fascinate Textiles Ltd is engaged in the manufacturing of ready-made garments, with operations based in West Bengal. Its product portfolio includes menswear, womenswear, and childrenswear, including t-shirts, joggers, vests, leggings, shorts, and infant wear. The company's revenue is prominently derived from the sale of garments and fabrics.
6GF Score

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

₹88.95
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