Modern Threads (India)NSE:MODTHREAD +1.37%38 Beneish M-Score is -2.29 as of Jun. 26, 2026. GuruFocus rates NSE:MODTHREAD with a GF Score™ of 38/100. The stock has 3 warning signs investors should review. Among 1,003 Manufacturing - Apparel & Accessories companies, Modern Threads (India) ranks worse than 64.81% 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.
Good Sign:
Beneish M-Score -2.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Modern Threads (India)'s Beneish M-Score or its related term are showing as below:
NSE:MODTHREAD'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.21 Med: -2.11 Max: 3.46
Current: -2.29
During the past 11 years, the highest Beneish M-Score of Modern Threads (India) was 3.46. The lowest was -3.21. And the median was -2.11.
Modern Threads (India) Beneish M-Score Related Terms
Modern Threads (India) Beneish M-Score Historical Data
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The historical data trend for Modern Threads (India)'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.
Modern Threads (India) Beneish M-Score Competitor Comparison
For the Textile Manufacturing subindustry, Modern Threads (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.
Modern Threads (India) Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Modern Threads (India)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Modern Threads (India)'s Beneish M-Score falls into.
Modern Threads (India) 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 Modern Threads (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 * 0.7113
+
0.528 * 0.8465
+
0.404 * 1.3616
+
0.892 * 1.1335
+
0.115 * 1.0742
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9607
+
4.679 * 0.058713
-
0.327 * 1.0522
=
-2.29
* 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.
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))
=
(45.081 / (45.081 + 552.677))
/
(46.945 / (46.945 + 621.702))
=
0.075417
/
0.070209
=
1.0742
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
=
(121.887 - 0
-
-27.596)
/
2545.98
=
0.058713
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.
Modern Threads (India) has a M-score of -2.29 suggests that the company is unlikely to be a manipulator.
Modern Threads (India) (NSE:MODTHREAD) has a Beneish M-Score of -2.29 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Modern Threads (India) and its competitors. According to the industry distribution chart, Modern Threads (India) ranks #650 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 64.8%.
Is Modern Threads (India)'s Beneish M-Score too high?
Modern Threads (India)'s current Beneish M-Score is -2.29. Based on the distribution chart, Modern Threads (India) ranks #650 out of 1003 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Modern Threads (India) has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does Modern Threads (India)'s Beneish M-Score compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Modern Threads (India) ranks #650 out of 1003 companies for Beneish M-Score. This places Modern Threads (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 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 Modern Threads (India) and its competitors. Modern Threads (India)'s current Beneish M-Score is -2.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Threads (India) stock overvalued right now?
Modern Threads (India) (NSE:MODTHREAD) has a current Beneish M-Score of -2.29. The current Beneish M-Score is -2.29. Modern Threads (India)'s overall GF Score™ is 38/100 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 Modern Threads (India) (NSE:MODTHREAD), the current Beneish M-Score is -2.29 as of Jun. 26, 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.
Modern Threads (India) Ltd is engaged in the textile industry, manufacturing and selling a diverse products, including worsted yarn, wool tops, wool grease, polyester viscose fiber-dyed yarn, polyester yarn, and lanolin. The company mainly produces worsted yarn, wool tops, and synthetic yarn. Its products are exported to over 25 countries across Europe, Latin America, the Far East, the Middle East, and Africa. Its manufacturing plants are located in Raila and Bhilwara. The company has generated the majority of its revenue from India.
38GF Score
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