Mason Infratech (NSE:MASON) Beneish M-Score: -1.29 (As of Jun. 27, 2026)


NSE:MASON Mason Infratech Ltd NSE:MASON
16 GF Score
Price ₹126.00
! 3 Warning Signs
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What is Mason Infratech Beneish M-Score?

Mason Infratech NSE:MASON 16 Beneish M-Score is -1.29 as of Jun. 27, 2026. GuruFocus rates NSE:MASON with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 1,682 Real Estate companies, Mason Infratech ranks worse than 82.1% 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 -1.29 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:MASON' s Beneish M-Score Range Over the Past 10 Years
Min: -1.78   Med: -1.29   Max: -1.25
Current: -1.29

During the past 5 years, the highest Beneish M-Score of Mason Infratech was -1.25. The lowest was -1.78. And the median was -1.29.

Mason Infratech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mason Infratech'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.

Mason Infratech Beneish M-Score Chart

Mason Infratech Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -1.25 -1.78 -1.29

Mason Infratech Semi-Annual Data
Mar21 Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 -1.78 0.00 -1.29 0.00

Mason Infratech Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Mason Infratech'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.

Mason Infratech Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Mason Infratech's Beneish M-Score distribution charts can be found below:

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


NSE:MASON
16GF Score
Mason Infratech Ltd NSE:MASON
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Mason Infratech 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 Mason Infratech 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 * 1.6308+0.528 * 0.8663+0.404 * 1.2879+0.892 * 1.1952+0.115 * 1.6959
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2128+4.679 * 0.060732-0.327 * 0.8102
=-1.29

* 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 ₹578 Mil.
Revenue was ₹1,121 Mil.
Gross Profit was ₹880 Mil.
Total Current Assets was ₹907 Mil.
Total Assets was ₹1,576 Mil.
Property, Plant and Equipment(Net PPE) was ₹226 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹26 Mil.
Selling, General, & Admin. Expense(SGA) was ₹27 Mil.
Total Current Liabilities was ₹754 Mil.
Long-Term Debt & Capital Lease Obligation was ₹157 Mil.
Net Income was ₹171 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹75 Mil.
 Total Receivables was ₹297 Mil.
Revenue was ₹938 Mil.
Gross Profit was ₹638 Mil.
Total Current Assets was ₹519 Mil.
Total Assets was ₹783 Mil.
Property, Plant and Equipment(Net PPE) was ₹93 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹19 Mil.
Selling, General, & Admin. Expense(SGA) was ₹19 Mil.
Total Current Liabilities was ₹511 Mil.
Long-Term Debt & Capital Lease Obligation was ₹48 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)
=(578.255 / 1121.048) / (296.666 / 937.946)
=0.515816 / 0.316293
=1.6308

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)
=(637.943 / 937.946) / (880.176 / 1121.048)
=0.680149 / 0.785137
=0.8663

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 - (907.293 + 226.401) / 1576.419) / (1 - (519.436 + 92.651) / 782.784)
=0.280842 / 0.218064
=1.2879

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
=1121.048 / 937.946
=1.1952

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))
=(19.435 / (19.435 + 92.651)) / (25.785 / (25.785 + 226.401))
=0.173394 / 0.102246
=1.6959

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)
=(27.072 / 1121.048) / (18.676 / 937.946)
=0.024149 / 0.019912
=1.2128

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)
=((157.389 + 754.048) / 1576.419) / ((47.583 + 510.998) / 782.784)
=0.578169 / 0.713583
=0.8102

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
=(170.885 - 0 - 75.146) / 1576.419
=0.060732

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.

Mason Infratech has a M-score of -1.29 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 -1.29 mean?
Mason Infratech (NSE:MASON) has a Beneish M-Score of -1.29 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mason Infratech and its competitors. According to the industry distribution chart, Mason Infratech ranks #1381 out of 1682 companies in the Real Estate industry, placing it in the top 82.1%.
Is Mason Infratech's Beneish M-Score too high?
Mason Infratech's current Beneish M-Score is -1.29. Based on the distribution chart, Mason Infratech ranks #1381 out of 1682 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Mason Infratech has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Mason Infratech's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Mason Infratech ranks #1381 out of 1682 companies for Beneish M-Score. This places Mason Infratech 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Mason Infratech and its competitors. Mason Infratech's current Beneish M-Score is -1.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mason Infratech stock overvalued right now?
Mason Infratech (NSE:MASON) has a current Beneish M-Score of -1.29. The current Beneish M-Score is -1.29. Mason Infratech's overall GF Score™ is 16/100 with 3 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 Mason Infratech (NSE:MASON), the current Beneish M-Score is -1.29 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.

Mason Infratech Business Description

Address Pokhran Road, No. 2, Flat No. 103, Imperia, Mahavir Millenium, Vasant Vihar, Thane, Mumbai, MH, IND, 400 610
Mason Infratech Ltd is a real estate construction company providing construction services for Residential as well as Commercial buildings of new and redevelopment projects. It specializes in executing civil contracts. The company is also working on lifestyle projects and high-value standalone buildings. Its capabilities include constructing concrete building structures as well as composite steel structures and providing mechanical, electrical, and plumbing (MEP) and finishing works. the company operates in India.
16GF 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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