Impex Ferro Tech (NSE:IMPEXFERRO) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


NSE:IMPEXFERRO Impex Ferro Tech Ltd NSE:IMPEXFERRO
27 GF Score
Price ₹2.41
GF Value ₹0.02
Valuation Significantly Overvalued
! 2 Warning Signs
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What is Impex Ferro Tech Beneish M-Score?

Impex Ferro Tech NSE:IMPEXFERRO 27 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates NSE:IMPEXFERRO with a GF Score™ of 27/100 and a GF Value™ of ₹0.02 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, Impex Ferro Tech ranks worse than 145985.26% 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 Impex Ferro Tech's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Impex Ferro Tech was 481.19. The lowest was -5.72. And the median was -2.82.

Impex Ferro Tech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Impex Ferro Tech'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.

Impex Ferro Tech Beneish M-Score Chart

Impex Ferro Tech Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15.98 -3.88 -5.72 481.19 0.00

Impex Ferro Tech Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 481.19 0.00 0.00 0.00 0.00

Impex Ferro Tech Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Impex Ferro Tech'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.

Impex Ferro Tech Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Impex Ferro Tech's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Impex Ferro Tech's Beneish M-Score falls into.


NSE:IMPEXFERRO
27GF Score
Impex Ferro Tech Ltd NSE:IMPEXFERRO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Impex Ferro Tech 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 Impex Ferro Tech 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ₹0.00 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹-67.65 Mil.
Total Current Assets was ₹75.90 Mil.
Total Assets was ₹1,599.27 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,521.41 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹67.65 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹2,122.17 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,676.00 Mil.
Net Income was ₹-64.34 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹7.86 Mil.
 Total Receivables was ₹0.69 Mil.
Revenue was ₹2.08 Mil.
Gross Profit was ₹-66.12 Mil.
Total Current Assets was ₹67.78 Mil.
Total Assets was ₹1,658.80 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,589.06 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹68.20 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4.42 Mil.
Total Current Liabilities was ₹2,117.36 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,676.00 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)
=(0 / 0) / (0.69 / 2.079)
= / 0.33189
=

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)
=(-66.12 / 2.079) / (-67.646 / 0)
=-31.803752 /
=

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 - (75.899 + 1521.411) / 1599.273) / (1 - (67.783 + 1589.057) / 1658.804)
=0.001227 / 0.001184
=

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
=0 / 2.079
=

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))
=(68.199 / (68.199 + 1589.057)) / (67.646 / (67.646 + 1521.411))
=0.041152 / 0.04257
=

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 / 0) / (4.42 / 2.079)
= / 2.126022
=

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)
=((2675.999 + 2122.169) / 1599.273) / ((2675.999 + 2117.359) / 1658.804)
=3.000218 / 2.889647
=

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
=(-64.34 - 0 - 7.863) / 1599.273
=-0.045147

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Impex Ferro Tech (NSE:IMPEXFERRO) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Impex Ferro Tech and its competitors. According to the industry distribution chart, Impex Ferro Tech ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Impex Ferro Tech's Beneish M-Score too high?
Impex Ferro Tech's current Beneish M-Score is 0.00. Based on the distribution chart, Impex Ferro Tech ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Impex Ferro Tech has a GF Score™ of 27/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Impex Ferro Tech's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Impex Ferro Tech ranks #999999 out of 685 companies for Beneish M-Score. This places Impex Ferro Tech 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Impex Ferro Tech and its competitors. Impex Ferro Tech'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 Impex Ferro Tech stock overvalued right now?
Based on GuruFocus' analysis, Impex Ferro Tech (NSE:IMPEXFERRO) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹0.02, compared to a current price of ₹2.41 — trading 11950% above its estimated fair value. The current Beneish M-Score is 0.00. Impex Ferro Tech's overall GF Score™ is 27/100 with 2 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 Impex Ferro Tech (NSE:IMPEXFERRO), the current Beneish M-Score is 0.00 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 Impex Ferro Tech (NSE:IMPEXFERRO) Overvalued in 2026?

Based on GuruFocus' analysis, Impex Ferro Tech stock appears to be overvalued. The current stock price of ₹2.41 is trading 11950% above its estimated GF Value™ of ₹0.02. GuruFocus considers Impex Ferro Tech to be Significantly Overvalued.

Key valuation signals for NSE:IMPEXFERRO:

  • Beneish M-Score: 0.00
  • GF Value™: ₹0.02 vs. price of ₹2.41 (11950% above fair value)
  • GF Score™: 27/100 with 2 warning signs

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

Impex Ferro Tech Business Description

Other Exchanges 532614:India
Address 132A, S. P. Mukherjee Road, SKP House, Kolkatta, WB, IND, 700026
Impex Ferro Tech Ltd is an Indian firm engaged in the business line of manufacturing Ferro Alloys (ferro manganese / silico manganese) and trading in iron and steel products. Its products include ferromanganese, silicomanganese, ferrosilicon, and ferrochrome.
27GF Score

Get the complete analysis for NSE:IMPEXFERRO

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

₹2.41
Price
₹0.02
GF Value