Monolithisch India (NSE:MONOLITH) Beneish M-Score: 1.59 (As of Jun. 26, 2026)


NSE:MONOLITH Monolithisch India Ltd NSE:MONOLITH
21 GF Score
Price ₹750.85
! 4 Warning Signs
View Full Analysis

What is Monolithisch India Beneish M-Score?

Monolithisch India NSE:MONOLITH +0.63% 21 Beneish M-Score is 1.59 as of Jun. 26, 2026. GuruFocus rates NSE:MONOLITH with a GF Score™ of 21/100. The stock has 4 warning signs investors should review. Among 1,530 Chemicals companies, Monolithisch India ranks worse than 97.06% 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 1.59 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:MONOLITH' s Beneish M-Score Range Over the Past 10 Years
Min: -1.38   Med: -1.29   Max: 1.59
Current: 1.59

During the past 5 years, the highest Beneish M-Score of Monolithisch India was 1.59. The lowest was -1.38. And the median was -1.29.

Monolithisch India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Monolithisch 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.

Monolithisch India Beneish M-Score Chart

Monolithisch India Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.29 -1.38 1.59

Monolithisch India Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -1.29 0.00 -1.38 0.00 1.59

NSE:MONOLITH vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Monolithisch 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.

Monolithisch India Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Monolithisch India's Beneish M-Score distribution charts can be found below:

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


NSE:MONOLITH
21GF Score
Monolithisch India Ltd NSE:MONOLITH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Monolithisch 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 Monolithisch 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 * 0.9997+0.528 * 1.0573+0.404 * 8.2673+0.892 * 1.3898+0.115 * 1.4608
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.063556-0.327 * 0.2694
=1.59

* 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 ₹267 Mil.
Revenue was ₹1,353 Mil.
Gross Profit was ₹735 Mil.
Total Current Assets was ₹922 Mil.
Total Assets was ₹1,453 Mil.
Property, Plant and Equipment(Net PPE) was ₹359 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹24 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹145 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
Net Income was ₹230 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹138 Mil.
 Total Receivables was ₹192 Mil.
Revenue was ₹973 Mil.
Gross Profit was ₹559 Mil.
Total Current Assets was ₹401 Mil.
Total Assets was ₹559 Mil.
Property, Plant and Equipment(Net PPE) was ₹150 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹15 Mil.
Selling, General, & Admin. Expense(SGA) was ₹163 Mil.
Total Current Liabilities was ₹207 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 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)
=(267.275 / 1352.932) / (192.361 / 973.443)
=0.197552 / 0.197609
=0.9997

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)
=(559.401 / 973.443) / (735.345 / 1352.932)
=0.574662 / 0.54352
=1.0573

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 - (922.32 + 359.035) / 1453.382) / (1 - (400.588 + 150.413) / 559.004)
=0.118363 / 0.014317
=8.2673

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
=1352.932 / 973.443
=1.3898

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))
=(15.023 / (15.023 + 150.413)) / (23.799 / (23.799 + 359.035))
=0.090809 / 0.062165
=1.4608

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 / 1352.932) / (162.745 / 973.443)
=0 / 0.167185
=0

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)
=((0 + 144.852) / 1453.382) / ((0 + 206.791) / 559.004)
=0.099665 / 0.369928
=0.2694

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
=(230.265 - 0 - 137.894) / 1453.382
=0.063556

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.

Monolithisch India has a M-score of 1.59 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 1.59 mean?
Monolithisch India (NSE:MONOLITH) has a Beneish M-Score of 1.59 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Monolithisch India and its competitors. According to the industry distribution chart, Monolithisch India ranks #1485 out of 1530 companies in the Chemicals industry, placing it in the top 97.1%.
Is Monolithisch India's Beneish M-Score too high?
Monolithisch India's current Beneish M-Score is 1.59. Based on the distribution chart, Monolithisch India ranks #1485 out of 1530 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Monolithisch India has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Monolithisch India's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Monolithisch India ranks #1485 out of 1530 companies for Beneish M-Score. This places Monolithisch 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Monolithisch India and its competitors. Monolithisch India's current Beneish M-Score is 1.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Monolithisch India stock overvalued right now?
Monolithisch India (NSE:MONOLITH) has a current Beneish M-Score of 1.59. The current Beneish M-Score is 1.59. Monolithisch India's overall GF Score™ is 21/100 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 Monolithisch India (NSE:MONOLITH), the current Beneish M-Score is 1.59 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.

Monolithisch India Business Description

Address Cosy Corner, Burdwan, Compound Lalpur, Ranchi GPO, Ranchi, JH, IND, 834001
Monolithisch India Ltd is engaged in the business of manufacturing and supply of specialized ramming mass used as a heat insulation/ lining material, by its customers as a refractory consumable for Induction furnaces installed in iron/steel and foundry plants. It is also engaged in the trading of its products on occasional basis to meet the excess and urgent requirement by its customers. Its product, specialized ramming mass is used in the induction furnace to create thermal insulation between the coil of the induction furnace and the molten steel.
21GF Score

Get the complete analysis for NSE:MONOLITH

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

₹750.85
Price