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Nirman Agri GeneticsNSE:NIRMAN -1.46%85 Beneish M-Score is 2.56 as of Jul. 21, 2026, which is at its 10-year median of 2.56. GuruFocus rates NSE:NIRMAN with a GF Score™ of 85/100 and a GF Value™ of ₹858.05 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 243 Agriculture companies, Nirman Agri Genetics ranks worse than 97.12% 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 2.56 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Nirman Agri Genetics's Beneish M-Score or its related term are showing as below:
NSE:NIRMAN'
s Beneish M-Score Range Over the Past 10 Years
Min: -0.94 Med: 2.56 Max: 2.77
Current: 2.56
During the past 6 years, the highest Beneish M-Score of Nirman Agri Genetics was 2.77. The lowest was -0.94. And the median was 2.56.
Nirman Agri Genetics Beneish M-Score Related Terms
Nirman Agri Genetics Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Nirman Agri Genetics'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.
NSE:NIRMAN vs CTVA, CF, MOS: Beneish M-Score Comparison
For the Agricultural Inputs subindustry, Nirman Agri Genetics'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.
Nirman Agri Genetics Beneish M-Score vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, Nirman Agri Genetics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nirman Agri Genetics'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 Nirman Agri Genetics 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 * 0.8551
+
0.528 * 1.6677
+
0.404 * 0.1842
+
0.892 * 3.7343
+
0.115 * 1.9311
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1204
+
4.679 * 0.502932
-
0.327 * 0.1781
=
2.56
* 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))
=
(3.165 / (3.165 + 3.997))
/
(6.382 / (6.382 + 21.506))
=
0.441916
/
0.228844
=
1.9311
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
=
(252.86 - 0
-
-316.09)
/
1131.267
=
0.502932
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.
Nirman Agri Genetics has a M-score of 2.56 signals that the company is likely to be a manipulator.
Nirman Agri Genetics (NSE:NIRMAN) has a Beneish M-Score of 2.56 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nirman Agri Genetics and its competitors. This is near median its historical median of 2.56. According to the industry distribution chart, Nirman Agri Genetics ranks #236 out of 243 companies in the Agriculture industry, placing it in the top 97.1%.
Is Nirman Agri Genetics' Beneish M-Score too high?
Nirman Agri Genetics' current Beneish M-Score of 2.56 is near median its 10-year median of 2.56. Based on the distribution chart, Nirman Agri Genetics ranks #236 out of 243 companies in the Agriculture industry, which is in the bottom quartile relative to peers. Overall, Nirman Agri Genetics has a GF Score™ of 85/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nirman Agri Genetics' Beneish M-Score compare to CTVA and CF?
According to the Agriculture industry distribution chart, Nirman Agri Genetics ranks #236 out of 243 companies for Beneish M-Score. This places Nirman Agri Genetics 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 Agriculture company?
A good Beneish M-Score depends on the Agriculture 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 Nirman Agri Genetics and its competitors. Nirman Agri Genetics's current Beneish M-Score is 2.56, which is near median its own 10-year median of 2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nirman Agri Genetics stock overvalued right now?
Based on GuruFocus' analysis, Nirman Agri Genetics (NSE:NIRMAN) is currently considered Possible Value Trap. The stock's GF Value™ is ₹858.05, compared to a current price of ₹40.45 — trading 95.3% below its estimated fair value. The current Beneish M-Score is 2.56, which is near median its 10-year median of 2.56. Nirman Agri Genetics' overall GF Score™ is 85/100 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 Nirman Agri Genetics (NSE:NIRMAN), the current Beneish M-Score is 2.56 as of Jul. 21, 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 Nirman Agri Genetics (NSE:NIRMAN) Overvalued in 2026?
Based on GuruFocus' analysis, Nirman Agri Genetics stock appears to be undervalued.
The current stock price of ₹40.45 is trading 95.3% below its estimated GF Value™ of ₹858.05.
GuruFocus considers Nirman Agri Genetics to be Possible Value Trap.
Key valuation signals for NSE:NIRMAN:
Beneish M-Score: 2.56 (near median its 10-year median of 2.56)
GF Value™: ₹858.05 vs. price of ₹40.45 (95.3% below fair value)
No single metric tells the full story. See the NSE:NIRMAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nirman Agri Genetics Ltd is an organized Agri-Input company in India. It is in the business of production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organic. These processes are used for different crops like corn, sunflower, cotton, paddy, grain sorghum, and others. It is engaged in the business of Agriculture Industry, Manufacturing & Processing of seeds. Its geographical segments include Revenue within India includes sales to customers located within India and Revenue outside India includes sales to customers located outside India including Export Benefits or Incentives.
85GF Score
Get the complete analysis for NSE:NIRMAN
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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