OnEMI Technology Solutions (NSE:KISSHT) Beneish M-Score: -0.14 (As of Jul. 17, 2026)

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NSE:KISSHT OnEMI Technology Solutions Ltd NSE:KISSHT
18 GF Score
Price ₹310.65
! 8 Warning Signs
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What is OnEMI Technology Solutions Beneish M-Score?

OnEMI Technology Solutions NSE:KISSHT -3.27% 18 Beneish M-Score is -0.14 as of Jul. 17, 2026. GuruFocus rates NSE:KISSHT with a GF Score™ of 18/100. The stock has 8 warning signs investors should review. Among 486 Credit Services companies, OnEMI Technology Solutions ranks worse than 83.33% 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 -0.14 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:KISSHT' s Beneish M-Score Range Over the Past 10 Years
Min: -0.14   Med: -0.14   Max: -0.14
Current: -0.14

During the past 3 years, the highest Beneish M-Score of OnEMI Technology Solutions was -0.14. The lowest was -0.14. And the median was -0.14.

OnEMI Technology Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for OnEMI Technology Solutions'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.

OnEMI Technology Solutions Beneish M-Score Chart

OnEMI Technology Solutions Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -0.14

OnEMI Technology Solutions Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -0.14

NSE:KISSHT vs V, MA, AXP: Beneish M-Score Comparison

For the Credit Services subindustry, OnEMI Technology Solutions'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.

OnEMI Technology Solutions Beneish M-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, OnEMI Technology Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where OnEMI Technology Solutions's Beneish M-Score falls into.


NSE:KISSHT
18GF Score
OnEMI Technology Solutions Ltd NSE:KISSHT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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OnEMI Technology Solutions 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 OnEMI Technology Solutions 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 * 2.1756+0.528 * 1.0953+0.404 * 1.1188+0.892 * 0.7988+0.115 * 0.9401
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1698+4.679 * 0.304337-0.327 * 1.1372
=-0.14

* 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 ₹19,619 Mil.
Revenue was ₹13,375 Mil.
Gross Profit was ₹11,160 Mil.
Total Current Assets was ₹21,613 Mil.
Total Assets was ₹27,011 Mil.
Property, Plant and Equipment(Net PPE) was ₹517 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹227 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,485 Mil.
Total Current Liabilities was ₹13,853 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,019 Mil.
Net Income was ₹1,606 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-6,614 Mil.
 Total Receivables was ₹11,290 Mil.
Revenue was ₹16,744 Mil.
Gross Profit was ₹15,304 Mil.
Total Current Assets was ₹14,507 Mil.
Total Assets was ₹17,965 Mil.
Property, Plant and Equipment(Net PPE) was ₹557 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹224 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,590 Mil.
Total Current Liabilities was ₹7,818 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,050 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)
=(19618.67 / 13374.65) / (11289.72 / 16744.46)
=1.466855 / 0.674236
=2.1756

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)
=(15303.6 / 16744.46) / (11160.34 / 13374.65)
=0.91395 / 0.83444
=1.0953

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 - (21613.16 + 516.79) / 27011.04) / (1 - (14506.63 + 556.79) / 17965.25)
=0.180707 / 0.161525
=1.1188

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
=13374.65 / 16744.46
=0.7988

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))
=(224.04 / (224.04 + 556.79)) / (227.02 / (227.02 + 516.79))
=0.286925 / 0.305212
=0.9401

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)
=(1485.49 / 13374.65) / (1589.87 / 16744.46)
=0.111068 / 0.094949
=1.1698

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)
=((3019 + 13853.22) / 27011.04) / ((2050.02 + 7817.55) / 17965.25)
=0.624642 / 0.549259
=1.1372

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
=(1606.21 - 0 - -6614.26) / 27011.04
=0.304337

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.

OnEMI Technology Solutions has a M-score of -0.14 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 -0.14 mean?
OnEMI Technology Solutions (NSE:KISSHT) has a Beneish M-Score of -0.14 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on OnEMI Technology Solutions and its competitors. According to the industry distribution chart, OnEMI Technology Solutions ranks #405 out of 486 companies in the Credit Services industry, placing it in the top 83.3%.
Is OnEMI Technology Solutions' Beneish M-Score too high?
OnEMI Technology Solutions' current Beneish M-Score is -0.14. Based on the distribution chart, OnEMI Technology Solutions ranks #405 out of 486 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, OnEMI Technology Solutions has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does OnEMI Technology Solutions' Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, OnEMI Technology Solutions ranks #405 out of 486 companies for Beneish M-Score. This places OnEMI Technology Solutions 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 OnEMI Technology Solutions and its competitors. OnEMI Technology Solutions's current Beneish M-Score is -0.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is OnEMI Technology Solutions stock overvalued right now?
OnEMI Technology Solutions (NSE:KISSHT) has a current Beneish M-Score of -0.14. The current Beneish M-Score is -0.14. OnEMI Technology Solutions' overall GF Score™ is 18/100 with 8 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 OnEMI Technology Solutions (NSE:KISSHT), the current Beneish M-Score is -0.14 as of Jul. 17, 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.

OnEMI Technology Solutions Business Description

Other Exchanges 544754:India
Address LBS Marg, Kurla West, 10th Floor, Tower 4, Equinox Park, Mumbai, MH, IND, 400 070
OnEMI Technology Solutions Ltd operates a digital lending platform in India, providing financing solutions to consumers. Its offerings include personal loans and secured loans such as loan against property (LAP). It uses data analytics, alternative credit assessment methods, and technology infrastructure to support its lending operations. The majority of the company's revenue is derived from Interest on loans and Sourcing and servicing fees.
18GF 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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