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 -2.76 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for New Delhi Television's Beneish M-Score or its related term are showing as below:
NSE:NDTV'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.66 Med: -2.64 Max: -1.2
Current: -2.76
During the past 13 years, the highest Beneish M-Score of New Delhi Television was -1.20. The lowest was -3.66. And the median was -2.64.
New Delhi Television Beneish M-Score Related Terms
New Delhi Television Beneish M-Score Historical Data
* Premium members only.
The historical data trend for New Delhi Television'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.
For the Broadcasting subindustry, New Delhi Television'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.
New Delhi Television Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, New Delhi Television's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where New Delhi Television'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 New Delhi Television 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 * 1.0028
+
0.528 * 1.1315
+
0.404 * 0.9318
+
0.892 * 1.136
+
0.115 * 0.695
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.098
+
4.679 * -0.091899
-
0.327 * 0.8913
=
-2.76
* 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))
=
(244.84 / (244.84 + 1974.93))
/
(356.32 / (356.32 + 1888.85))
=
0.1103
/
0.158705
=
0.695
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
=
(-3226.06 - 0
-
-2578.9)
/
7042.05
=
-0.091899
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.
New Delhi Television has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
New Delhi Television (NSE:NDTV) has a Beneish M-Score of -2.76 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on New Delhi Television and its competitors. According to the industry distribution chart, New Delhi Television ranks #364 out of 983 companies in the Media - Diversified industry, placing it in the top 37%.
Is New Delhi Television's Beneish M-Score too high?
New Delhi Television's current Beneish M-Score is -2.76. Based on the distribution chart, New Delhi Television ranks #364 out of 983 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, New Delhi Television has a GF Score™ of 51/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does New Delhi Television's Beneish M-Score compare to NXST?
According to the Media - Diversified industry distribution chart, New Delhi Television ranks #364 out of 983 companies for Beneish M-Score. This puts New Delhi Television in the upper 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 New Delhi Television and its competitors. New Delhi Television's current Beneish M-Score is -2.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Delhi Television stock overvalued right now?
Based on GuruFocus' analysis, New Delhi Television (NSE:NDTV) is currently considered Possible Value Trap. The stock's GF Value™ is ₹160.31, compared to a current price of ₹80.37 — trading 49.9% below its estimated fair value. The current Beneish M-Score is -2.76. New Delhi Television's overall GF Score™ is 51/100 with 5 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 New Delhi Television (NSE:NDTV), the current Beneish M-Score is -2.76 as of Jun. 30, 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 New Delhi Television (NSE:NDTV) Overvalued in 2026?
Based on GuruFocus' analysis, New Delhi Television stock appears to be undervalued.
The current stock price of ₹80.37 is trading 49.9% below its estimated GF Value™ of ₹160.31.
GuruFocus considers New Delhi Television to be Possible Value Trap.
Key valuation signals for NSE:NDTV:
Beneish M-Score: -2.76
GF Value™: ₹160.31 vs. price of ₹80.37 (49.9% below fair value)
No single metric tells the full story. See the NSE:NDTV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Delhi Television Ltd is in the business of television media and currently operates three channels including a dual channel namely NDTV 24x7, NDTV India, and NDTV Profit. The subsidiaries of the company include NDTV Convergence Ltd and NDTV World-wide Ltd offers consultancy for setting up of local television news channels in emerging markets across the world. The company also has associates and joint venture engaged into different e-commerce businesses on various platforms such as www.Gadgets360.com and www.mojarto.com. The company operates in India, America, Europe and Others.
51GF Score
Get the complete analysis for NSE:NDTV
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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