Maitreya Medicare (NSE:MAITREYA) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


NSE:MAITREYA Maitreya Medicare Ltd NSE:MAITREYA
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Price ₹137.85
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What is Maitreya Medicare Beneish M-Score?

Maitreya Medicare NSE:MAITREYA -0.11% 18 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates NSE:MAITREYA with a GF Score™ of 18/100.

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 Maitreya Medicare's Beneish M-Score or its related term are showing as below:

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

Maitreya Medicare Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Maitreya Medicare'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.

Maitreya Medicare Beneish M-Score Chart

Maitreya Medicare Annual Data
Trend Mar21 Mar22 Mar23
Beneish M-Score
0.00 0.00 -1.20

Maitreya Medicare Semi-Annual Data
Mar21 Mar22 Mar23 Sep23
Beneish M-Score 0.00 0.00 -1.20 0.00

NSE:MAITREYA vs HCA, DVA, THC: Beneish M-Score Comparison

For the Medical Care Facilities subindustry, Maitreya Medicare'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.

Maitreya Medicare Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Maitreya Medicare's Beneish M-Score distribution charts can be found below:

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


NSE:MAITREYA
18GF Score
Maitreya Medicare Ltd NSE:MAITREYA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Maitreya Medicare 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 Maitreya Medicare 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 * 2.0784+0.528 * 0.9864+0.404 * 0.8044+0.892 * 0.797+0.115 * 0.8972
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6927+4.679 * 0.094127-0.327 * 0.78
=-1.20

* 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 (Mar23) TTM:Last Year (Mar22) TTM:
Total Receivables was ₹97.5 Mil.
Revenue was ₹393.8 Mil.
Gross Profit was ₹300.8 Mil.
Total Current Assets was ₹137.0 Mil.
Total Assets was ₹275.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹115.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹12.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹125.8 Mil.
Total Current Liabilities was ₹68.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹45.6 Mil.
Net Income was ₹42.3 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹16.4 Mil.
 Total Receivables was ₹58.9 Mil.
Revenue was ₹494.1 Mil.
Gross Profit was ₹372.3 Mil.
Total Current Assets was ₹86.5 Mil.
Total Assets was ₹244.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹133.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹13.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹227.8 Mil.
Total Current Liabilities was ₹67.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₹62.6 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)
=(97.502 / 393.8) / (58.861 / 494.116)
=0.247593 / 0.119124
=2.0784

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)
=(372.32 / 494.116) / (300.836 / 393.8)
=0.753507 / 0.763931
=0.9864

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 - (137.036 + 115.756) / 274.989) / (1 - (86.48 + 133.825) / 244.879)
=0.08072 / 0.100352
=0.8044

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
=393.8 / 494.116
=0.797

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))
=(13.242 / (13.242 + 133.825)) / (12.913 / (12.913 + 115.756))
=0.090041 / 0.100358
=0.8972

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)
=(125.769 / 393.8) / (227.826 / 494.116)
=0.319373 / 0.461078
=0.6927

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)
=((45.646 + 68.428) / 274.989) / ((62.627 + 67.612) / 244.879)
=0.414831 / 0.53185
=0.78

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
=(42.265 - 0 - 16.381) / 274.989
=0.094127

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.

Maitreya Medicare has a M-score of -1.20 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?
Maitreya Medicare (NSE:MAITREYA) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Maitreya Medicare and its competitors.
Is Maitreya Medicare's Beneish M-Score too high?
Maitreya Medicare's current Beneish M-Score is 0.00. Overall, Maitreya Medicare has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Maitreya Medicare's Beneish M-Score compare to HCA and DVA?
Maitreya Medicare's Beneish M-Score of 0.00 can be compared against companies in the Healthcare Providers & Services 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & 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 Maitreya Medicare and its competitors. Maitreya Medicare'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 Maitreya Medicare stock overvalued right now?
Maitreya Medicare (NSE:MAITREYA) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Maitreya Medicare's overall GF Score™ is 18/100. 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 Maitreya Medicare (NSE:MAITREYA), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Maitreya Medicare Business Description

Address Nr. Someshwara Char Rasta, Udhana - Magdalla Road, Surat, GJ, IND, 395007
Maitreya Medicare Ltd is Multi Superspeciality hospital. It is a 125 bedded hospital that provides multi-disciplinary integrated healthcare services, with a focus on primary secondary & tertiary care, and also offers a comprehensive range of healthcare services across over 18 specialties and super specialties, including Cardiology, Urology, Oncology, Laparoscopic Surgery, Neurology, Neurosurgery, Spine Surgery, Nephrology including Dialysis, Gastroenterology, Gastrointestinal surgery, Cardiothoracic Surgery, Oncosurgery, Orthopedic Surgery including joint replacements and Arthroscopic surgeries, Gynecology & High-Risk Obstetrics, Hepatocellular Billary Surgery, Critical Care Medicine etc.
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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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