KSR Footwear (NSE:KSR) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


NSE:KSR KSR Footwear Ltd NSE:KSR
5 GF Score
Price ₹31.59
! 2 Warning Signs
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What is KSR Footwear Beneish M-Score?

KSR Footwear NSE:KSR -2.98% 5 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates NSE:KSR with a GF Score™ of 5/100. The stock has 2 warning signs investors should review. Among 1,001 Manufacturing - Apparel & Accessories companies, KSR Footwear ranks worse than 99900% 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 KSR Footwear's Beneish M-Score or its related term are showing as below:

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

KSR Footwear Beneish M-Score Historical Data

* Premium members only.

The historical data trend for KSR Footwear'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.

KSR Footwear Beneish M-Score Chart

KSR Footwear Annual Data
Trend Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00

KSR Footwear Quarterly Data
Mar24 Dec24 Mar25 Dec25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

NSE:KSR vs NKE, DECK, ONON: Beneish M-Score Comparison

For the Footwear & Accessories subindustry, KSR Footwear'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.

KSR Footwear Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

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

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


NSE:KSR
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KSR Footwear Ltd NSE:KSR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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KSR Footwear 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 KSR Footwear 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+0.528 * 1.2451+0.404 * 1.2628+0.892 * 0.972+0.115 * 5.6859
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.131021-0.327 * 0.188
=-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 ₹492 Mil.
Revenue was ₹1,999 Mil.
Gross Profit was ₹501 Mil.
Total Current Assets was ₹1,270 Mil.
Total Assets was ₹1,820 Mil.
Property, Plant and Equipment(Net PPE) was ₹465 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹99 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹895 Mil.
Long-Term Debt & Capital Lease Obligation was ₹160 Mil.
Net Income was ₹-127 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹111 Mil.
 Total Receivables was ₹0 Mil.
Revenue was ₹2,057 Mil.
Gross Profit was ₹641 Mil.
Total Current Assets was ₹1 Mil.
Total Assets was ₹1 Mil.
Property, Plant and Equipment(Net PPE) was ₹0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹117 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹2 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)
=(491.8 / 1999.46) / (0 / 2057.07)
=0.245966 / 0
=1

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)
=(641.41 / 2057.07) / (500.73 / 1999.46)
=0.311808 / 0.250433
=1.2451

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 - (1269.59 + 464.84) / 1819.86) / (1 - (0.518 + 0) / 0.538)
=0.046943 / 0.037175
=1.2628

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
=1999.46 / 2057.07
=0.972

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))
=(117.38 / (117.38 + 0)) / (99.2 / (99.2 + 464.84))
=1 / 0.175874
=5.6859

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 / 1999.46) / (0.091 / 2057.07)
=0 / 4.4E-5
=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)
=((159.5 + 895.29) / 1819.86) / ((0 + 1.659) / 0.538)
=0.5796 / 3.083643
=0.188

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
=(-127.39 - 0 - 111.05) / 1819.86
=-0.131021

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.

KSR Footwear 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 0.00 mean?
KSR Footwear (NSE:KSR) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on KSR Footwear and its competitors. According to the industry distribution chart, KSR Footwear ranks #999999 out of 1001 companies in the Manufacturing - Apparel & Accessories industry.
Is KSR Footwear's Beneish M-Score too high?
KSR Footwear's current Beneish M-Score is 0.00. Based on the distribution chart, KSR Footwear ranks #999999 out of 1001 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, KSR Footwear has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does KSR Footwear's Beneish M-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, KSR Footwear ranks #999999 out of 1001 companies for Beneish M-Score. This places KSR Footwear 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 KSR Footwear and its competitors. KSR Footwear'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 KSR Footwear stock overvalued right now?
KSR Footwear (NSE:KSR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. KSR Footwear's overall GF Score™ is 5/100 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 KSR Footwear (NSE:KSR), the current Beneish M-Score is 0.00 as of Jun. 28, 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.

KSR Footwear Business Description

Other Exchanges 544615:India
Address Bangur Avenue, Flat No. 4A, 4th Floor, Kalyani Complex, P-22, Block-A, Kolkata, WB, IND, 700055
KSR Footwear Ltd is engaged in the business of footwear manufacturing and wholesale trading, offering a broad portfolio for men and women. Its men's portfolio includes Formal Shoes, Oxford, Derby, Monk, Slip On, Casual Shoes, Boots, Loafers/Moccasins, Sneakers, Canvas Shoe, Dress Shoe, Other Casuals, Sports Shoes, Slippers & Flip-Flops, Slides, Flip Flops, Sandals & Floaters, Sandal, and Floaters/Kitto. The women's portfolio comprises Flats, Slip-Ons, Sandals, Heels, Ballerinas, Pumps, Mary Jane, Casual Shoes, Boots, Loafers/Moccasins, Sneakers, Canvas Shoes, Other Casuals, Sports Shoes, Sandals & Floaters, Floaters/Kitto, Slides, Slippers, and Flip-Flops. The company also manufactures accessories, including Bags such as Backpacks, Crossbody Bags, handbags, and others.
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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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