Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -1.77 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Marine Electricals (India)'s Beneish M-Score or its related term are showing as below:
NSE:MARINE'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.71 Med: -1.98 Max: -1.59
Current: -1.77
During the past 13 years, the highest Beneish M-Score of Marine Electricals (India) was -1.59. The lowest was -2.71. And the median was -1.98.
* 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.
For the Electrical Equipment & Parts subindustry, Marine Electricals (India)'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.
Marine Electricals (India) Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Marine Electricals (India)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Marine Electricals (India)'s Beneish M-Score falls into.
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 Marine Electricals (India) 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 * 1.0512
+
0.528 * 0.9065
+
0.404 * 1.0072
+
0.892 * 1.1432
+
0.115 * 1.1672
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.083591
-
0.327 * 0.9949
=
-1.77
* 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.
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.
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))
=
(155.658 / (155.658 + 560.105))
/
(147.741 / (147.741 + 645.216))
=
0.217471
/
0.186317
=
1.1672
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
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
=
(583.692 - 0
-
-160.641)
/
8904.453
=
0.083591
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.
Marine Electricals (India) has a M-score of -1.77 signals that the company is likely to be a manipulator.
Marine Electricals (India) (NSE:MARINE) has a Beneish M-Score of -1.77 as of Aug. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marine Electricals (India) and its competitors. According to the industry distribution chart, Marine Electricals (India) ranks #2454 out of 2907 companies in the Industrial Products industry, placing it in the top 84.4%.
Is Marine Electricals (India)'s Beneish M-Score too high?
Marine Electricals (India)'s current Beneish M-Score is -1.77. Based on the distribution chart, Marine Electricals (India) ranks #2454 out of 2907 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Marine Electricals (India) has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Marine Electricals (India)'s Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Marine Electricals (India) ranks #2454 out of 2907 companies for Beneish M-Score. This places Marine Electricals (India) 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 Marine Electricals (India) and its competitors. Marine Electricals (India)'s current Beneish M-Score is -1.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marine Electricals (India) stock overvalued right now?
Based on GuruFocus' analysis, Marine Electricals (India) (NSE:MARINE) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹199.17, compared to a current price of ₹300.60 — trading 50.9% above its estimated fair value. The current Beneish M-Score is -1.77. Marine Electricals (India)'s overall GF Score™ is 86/100 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 Marine Electricals (India) (NSE:MARINE), the current Beneish M-Score is -1.77 as of Aug. 04, 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 Marine Electricals (India) (NSE:MARINE) Overvalued in 2026?
Based on GuruFocus' analysis, Marine Electricals (India) stock appears to be overvalued.
The current stock price of ₹300.60 is trading 50.9% above its estimated GF Value™ of ₹199.17.
GuruFocus considers Marine Electricals (India) to be Significantly Overvalued.
Key valuation signals for NSE:MARINE:
Beneish M-Score: -1.77
GF Value™: ₹199.17 vs. price of ₹300.60 (50.9% above fair value)
No single metric tells the full story. See the NSE:MARINE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marine Electricals (India) Ltd is engaged in providing integrated electrical and automation solutions. It is engaged in the manufacturing and sale of all types of marine and industrial electrical and electronic components like switch-gears, marine motors, control-gears, monitoring and control systems, etc., and is also engaged in the renewable energy sector, specifically solar. The company also provides services like designing, fabricating, etc., for all types of electrical and electronic installations and undertakes annual maintenance contracts. Its segments are: Marine and Industry. The Industry segment, which generates maximum revenue, provides products and services of power distribution and solutions for industries like data centres, industrial, and large buildings.
86GF Score
Get the complete analysis for NSE:MARINE
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:MARINE has been successfully added to your 
