Marco Cables and Conductors (NSE:MARCO) Beneish M-Score: 0.00 (As of Jul. 07, 2026)


NSE:MARCO Marco Cables and Conductors Ltd NSE:MARCO
64 GF Score
Price ₹31.20
GF Value ₹66.34
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Marco Cables and Conductors Beneish M-Score?

Marco Cables and Conductors NSE:MARCO -0.16% 64 Beneish M-Score is 0.00 as of Jul. 07, 2026. GuruFocus rates NSE:MARCO with a GF Score™ of 64/100 and a GF Value™ of ₹66.34 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,916 Industrial Products companies, Marco Cables and Conductors ranks worse than 34293.52% 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 Marco Cables and Conductors's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Marco Cables and Conductors was -1.70. The lowest was -3.09. And the median was -2.68.

Marco Cables and Conductors Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Marco Cables and Conductors'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.

Marco Cables and Conductors Beneish M-Score Chart

Marco Cables and Conductors Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 -1.70 -2.68 -3.09 0.00

Marco Cables and Conductors Semi-Annual Data
Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 -1.70 -2.68 -3.09 0.00

NSE:MARCO vs VRT, BE: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Marco Cables and Conductors'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.

Marco Cables and Conductors Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Marco Cables and Conductors's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Marco Cables and Conductors's Beneish M-Score falls into.


NSE:MARCO
64GF Score
Marco Cables and Conductors Ltd NSE:MARCO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Marco Cables and Conductors 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 Marco Cables and Conductors 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 ₹450 Mil.
Revenue was ₹1,028 Mil.
Gross Profit was ₹192 Mil.
Total Current Assets was ₹1,022 Mil.
Total Assets was ₹1,077 Mil.
Property, Plant and Equipment(Net PPE) was ₹55 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹543 Mil.
Long-Term Debt & Capital Lease Obligation was ₹157 Mil.
Net Income was ₹42 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-165 Mil.
 Total Receivables was ₹249 Mil.
Revenue was ₹1,114 Mil.
Gross Profit was ₹212 Mil.
Total Current Assets was ₹769 Mil.
Total Assets was ₹828 Mil.
Property, Plant and Equipment(Net PPE) was ₹59 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹21 Mil.
Total Current Liabilities was ₹413 Mil.
Long-Term Debt & Capital Lease Obligation was ₹80 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)
=(450.051 / 1028.213) / (248.554 / 1114.065)
=0.437702 / 0.223105
=

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)
=(212.282 / 1114.065) / (192.185 / 1028.213)
=0.190547 / 0.186912
=

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 - (1021.681 + 55.031) / 1076.711) / (1 - (769.492 + 58.59) / 828.082)
=-1.0E-6 / 0
=

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
=1028.213 / 1114.065
=

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))
=(5.146 / (5.146 + 58.59)) / (5.727 / (5.727 + 55.031))
=0.080739 / 0.094259
=

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 / 1028.213) / (20.635 / 1114.065)
=0 / 0.018522
=

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)
=((156.827 + 543.361) / 1076.711) / ((80.056 + 413.268) / 828.082)
=0.650303 / 0.595743
=

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
=(42.014 - 0 - -164.653) / 1076.711
=0.191943

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?
Marco Cables and Conductors (NSE:MARCO) has a Beneish M-Score of 0.00 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marco Cables and Conductors and its competitors. According to the industry distribution chart, Marco Cables and Conductors ranks #999999 out of 2916 companies in the Industrial Products industry.
Is Marco Cables and Conductors' Beneish M-Score too high?
Marco Cables and Conductors' current Beneish M-Score is 0.00. Based on the distribution chart, Marco Cables and Conductors ranks #999999 out of 2916 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Marco Cables and Conductors has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Marco Cables and Conductors' Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Marco Cables and Conductors ranks #999999 out of 2916 companies for Beneish M-Score. This places Marco Cables and Conductors 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Marco Cables and Conductors and its competitors. Marco Cables and Conductors'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 Marco Cables and Conductors stock overvalued right now?
Based on GuruFocus' analysis, Marco Cables and Conductors (NSE:MARCO) is currently considered Possible Value Trap. The stock's GF Value™ is ₹66.34, compared to a current price of ₹31.20 — trading 53% below its estimated fair value. The current Beneish M-Score is 0.00. Marco Cables and Conductors' overall GF Score™ is 64/100 with 4 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 Marco Cables and Conductors (NSE:MARCO), the current Beneish M-Score is 0.00 as of Jul. 07, 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 Marco Cables and Conductors (NSE:MARCO) Overvalued in 2026?

Based on GuruFocus' analysis, Marco Cables and Conductors stock appears to be undervalued. The current stock price of ₹31.20 is trading 53% below its estimated GF Value™ of ₹66.34. GuruFocus considers Marco Cables and Conductors to be Possible Value Trap.

Key valuation signals for NSE:MARCO:

  • Beneish M-Score: 0.00
  • GF Value™: ₹66.34 vs. price of ₹31.20 (53% below fair value)
  • GF Score™: 64/100 with 4 warning signs

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

Marco Cables and Conductors Business Description

Address Main Road, Shop No 100, Opposite Bhai Gangaram Market, Ulhasnagar, Thane, MH, IND, 421005
Marco Cables and Conductors Ltd is engaged in the business of manufacturing and selling wires, cables wires and conductors in India. The company commenced its operations with the manufacturing of wires (with aluminium/copper conductor), LT XLPE cables, LT PVC cables, and LT Aerial Bunched Cables, including AAAC (All Aluminium Alloy Conductor) and ACSR (Aluminium Conductor Steel Reinforced) Conductors. Geographically the company operates in India only. The company generates all of its revenue from the sale of finished products.
64GF Score

Get the complete analysis for NSE:MARCO

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

₹31.20
Price
₹66.34
GF Value