Jayesh Logistics (NSE:JAYESH) Beneish M-Score: -1.10 (As of Jul. 26, 2026)

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NSE:JAYESH Jayesh Logistics Ltd NSE:JAYESH
16 GF Score
Price ₹129.00
! 2 Warning Signs
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What is Jayesh Logistics Beneish M-Score?

Jayesh Logistics NSE:JAYESH -1.30% 16 Beneish M-Score is -1.10 as of Jul. 26, 2026. GuruFocus rates NSE:JAYESH with a GF Score™ of 16/100. The stock has 2 warning signs investors should review. Among 967 Transportation companies, Jayesh Logistics ranks worse than 91.21% 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.

Warning Sign:

Beneish M-Score -1.1 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:JAYESH' s Beneish M-Score Range Over the Past 10 Years
Min: -1.1   Med: -1.1   Max: -1.1
Current: -1.1

During the past 3 years, the highest Beneish M-Score of Jayesh Logistics was -1.10. The lowest was -1.10. And the median was -1.10.

Jayesh Logistics Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Jayesh Logistics'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.

Jayesh Logistics Beneish M-Score Chart

Jayesh Logistics Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -1.10

Jayesh Logistics Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -1.10

NSE:JAYESH vs UPS, FDX, JBHT: Beneish M-Score Comparison

For the Integrated Freight & Logistics subindustry, Jayesh Logistics'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.

Jayesh Logistics Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Jayesh Logistics's Beneish M-Score distribution charts can be found below:

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


NSE:JAYESH
16GF Score
Jayesh Logistics Ltd NSE:JAYESH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Jayesh Logistics 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 Jayesh Logistics 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 * 1.3003+0.528 * 0.7242+0.404 * 3.1374+0.892 * 1.2677+0.115 * 0.7199
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.8072+4.679 * 0.05773-0.327 * 0.8494
=-1.10

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was ₹377 Mil.
Revenue was ₹1,119 Mil.
Gross Profit was ₹153 Mil.
Total Current Assets was ₹430 Mil.
Total Assets was ₹589 Mil.
Property, Plant and Equipment(Net PPE) was ₹134 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹46 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3 Mil.
Total Current Liabilities was ₹312 Mil.
Long-Term Debt & Capital Lease Obligation was ₹97 Mil.
Net Income was ₹72 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹38 Mil.
 Total Receivables was ₹229 Mil.
Revenue was ₹883 Mil.
Gross Profit was ₹87 Mil.
Total Current Assets was ₹292 Mil.
Total Assets was ₹475 Mil.
Property, Plant and Equipment(Net PPE) was ₹177 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹40 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1 Mil.
Total Current Liabilities was ₹247 Mil.
Long-Term Debt & Capital Lease Obligation was ₹141 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)
=(377.487 / 1118.821) / (229.003 / 882.591)
=0.337397 / 0.259467
=1.3003

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)
=(87.163 / 882.591) / (152.57 / 1118.821)
=0.098758 / 0.136367
=0.7242

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 - (430.438 + 133.551) / 588.829) / (1 - (291.515 + 177.326) / 475.231)
=0.042185 / 0.013446
=3.1374

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
=1118.821 / 882.591
=1.2677

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))
=(39.786 / (39.786 + 177.326)) / (45.6 / (45.6 + 133.551))
=0.183251 / 0.254534
=0.7199

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)
=(3.021 / 1118.821) / (1.319 / 882.591)
=0.0027 / 0.001494
=1.8072

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)
=((97.116 + 311.786) / 588.829) / ((141.31 + 247.204) / 475.231)
=0.694433 / 0.817527
=0.8494

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
=(71.974 - 0 - 37.981) / 588.829
=0.05773

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.

Jayesh Logistics has a M-score of -1.10 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 -1.10 mean?
Jayesh Logistics (NSE:JAYESH) has a Beneish M-Score of -1.10 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jayesh Logistics and its competitors. According to the industry distribution chart, Jayesh Logistics ranks #882 out of 967 companies in the Transportation industry, placing it in the top 91.2%.
Is Jayesh Logistics' Beneish M-Score too high?
Jayesh Logistics' current Beneish M-Score is -1.10. Based on the distribution chart, Jayesh Logistics ranks #882 out of 967 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Jayesh Logistics has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Jayesh Logistics' Beneish M-Score compare to UPS and FDX?
According to the Transportation industry distribution chart, Jayesh Logistics ranks #882 out of 967 companies for Beneish M-Score. This places Jayesh Logistics 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Jayesh Logistics and its competitors. Jayesh Logistics's current Beneish M-Score is -1.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jayesh Logistics stock overvalued right now?
Jayesh Logistics (NSE:JAYESH) has a current Beneish M-Score of -1.10. The current Beneish M-Score is -1.10. Jayesh Logistics' overall GF Score™ is 16/100 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 Jayesh Logistics (NSE:JAYESH), the current Beneish M-Score is -1.10 as of Jul. 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.

Jayesh Logistics Business Description

Address Chinar Park, 504A, P S Aviator Building, Rajarhat, Kolkata, WB, IND, 700136
Jayesh Logistics Ltd is a service provider in the logistics and supply chain management industry, providing freight services using road transportation like trucks and railways and non-freight services; like loading and unloading, truck on hire also known as Truck Forwarding Note TFN, custom clearance, and machinery on hire, to over 200 clients from various industries such as iron and steel, infrastructure equipment, cement, heavy industrial machinery, engineering, construction machinery and more. The Company handles both domestic and cross-border consignments. It also provides non-freight support which enables the company to address various supply chain requirements of its clients and provide them with end-to-end solutions.
16GF 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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