HP Telecom India (NSE:HPTL) Beneish M-Score: -1.91 (As of Jul. 07, 2026)


NSE:HPTL HP Telecom India Ltd NSE:HPTL
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What is HP Telecom India Beneish M-Score?

HP Telecom India NSE:HPTL 28 Beneish M-Score is -1.91 as of Jul. 07, 2026. GuruFocus rates NSE:HPTL with a GF Score™ of 28/100. The stock has 1 warning sign investors should review. Among 2,405 Hardware companies, HP Telecom India ranks worse than 80.75% 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 -1.91 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:HPTL' s Beneish M-Score Range Over the Past 10 Years
Min: -1.91   Med: -1.33   Max: -1
Current: -1.91

During the past 5 years, the highest Beneish M-Score of HP Telecom India was -1.00. The lowest was -1.91. And the median was -1.33.

HP Telecom India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for HP Telecom India'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.

HP Telecom India Beneish M-Score Chart

HP Telecom India Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.33 -1.00 -1.91

HP Telecom India Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 -1.33 0.00 -1.00 -1.91

NSE:HPTL vs SNX, ARW, AVT: Beneish M-Score Comparison

For the Electronics & Computer Distribution subindustry, HP Telecom India'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.

HP Telecom India Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, HP Telecom India's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where HP Telecom India's Beneish M-Score falls into.


NSE:HPTL
28GF Score
HP Telecom India Ltd NSE:HPTL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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HP Telecom 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 HP Telecom 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 * 0.796+0.528 * 0.9526+0.404 * 0.9883+0.892 * 1.4984+0.115 * 1.3155
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.02842-0.327 * 0.9903
=-1.91

* 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 ₹818 Mil.
Revenue was ₹23,917 Mil.
Gross Profit was ₹557 Mil.
Total Current Assets was ₹3,382 Mil.
Total Assets was ₹3,537 Mil.
Property, Plant and Equipment(Net PPE) was ₹16 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹2,527 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
Net Income was ₹255 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹154 Mil.
 Total Receivables was ₹686 Mil.
Revenue was ₹15,962 Mil.
Gross Profit was ₹354 Mil.
Total Current Assets was ₹2,591 Mil.
Total Assets was ₹2,715 Mil.
Property, Plant and Equipment(Net PPE) was ₹17 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹7 Mil.
Total Current Liabilities was ₹1,959 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 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)
=(818.481 / 23916.863) / (686.22 / 15961.581)
=0.034222 / 0.042992
=0.796

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)
=(354.378 / 15961.581) / (557.408 / 23916.863)
=0.022202 / 0.023306
=0.9526

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 - (3381.92 + 16.297) / 3536.531) / (1 - (2591.206 + 16.581) / 2715.234)
=0.03911 / 0.039572
=0.9883

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
=23916.863 / 15961.581
=1.4984

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))
=(1.031 / (1.031 + 16.581)) / (0.759 / (0.759 + 16.297))
=0.05854 / 0.0445
=1.3155

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 / 23916.863) / (7.004 / 15961.581)
=0 / 0.000439
=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)
=((0 + 2527.03) / 3536.531) / ((0 + 1959.164) / 2715.234)
=0.714551 / 0.721545
=0.9903

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
=(254.88 - 0 - 154.373) / 3536.531
=0.02842

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.

HP Telecom India has a M-score of -1.91 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 -1.91 mean?
HP Telecom India (NSE:HPTL) has a Beneish M-Score of -1.91 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on HP Telecom India and its competitors. According to the industry distribution chart, HP Telecom India ranks #1942 out of 2405 companies in the Hardware industry, placing it in the top 80.7%.
Is HP Telecom India's Beneish M-Score too high?
HP Telecom India's current Beneish M-Score is -1.91. Based on the distribution chart, HP Telecom India ranks #1942 out of 2405 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, HP Telecom India has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does HP Telecom India's Beneish M-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, HP Telecom India ranks #1942 out of 2405 companies for Beneish M-Score. This places HP Telecom 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 HP Telecom India and its competitors. HP Telecom India's current Beneish M-Score is -1.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HP Telecom India stock overvalued right now?
HP Telecom India (NSE:HPTL) has a current Beneish M-Score of -1.91. The current Beneish M-Score is -1.91. HP Telecom India's overall GF Score™ is 28/100 with 1 warning sign 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 HP Telecom India (NSE:HPTL), the current Beneish M-Score is -1.91 as of Jul. 07, 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.

HP Telecom India Business Description

Address BRTS Canal Road, Plot No. 97, 01st Floor, Om Square, Near Ishwar Farm, Bhatar, Althan, Surat, GJ, IND, 395017
HP Telecom India Ltd has been dedicated to providing top-tier telecommunications solutions and services to its clients. It operates with a focus on professionalism, innovation, and customer satisfaction. Currently, the company operates as the exclusive distributor of Apple products across territories, including Madhya Pradesh & Chhattisgarh, select cities in Uttar Pradesh, and urban centers in Gujarat. It proudly offers Apple's iconic range of devices, comprising the iPhone, iPad, Mac, Apple Watch, and more, catering to the discerning tech-savvy consumers in these regions. While Apple products remain the cornerstone of its distribution portfolio, It also engages in the distribution of select other brands to diversify its offerings and cater to a broader customer base.
28GF Score

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

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