Oriana Power (NSE:ORIANA) Beneish M-Score: -0.05 (As of Jul. 01, 2026)


NSE:ORIANA Oriana Power Ltd NSE:ORIANA
19 GF Score
Price ₹1,559.05
! 3 Warning Signs
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What is Oriana Power Beneish M-Score?

Oriana Power NSE:ORIANA +0.02% 19 Beneish M-Score is -0.05 as of Jul. 01, 2026. GuruFocus rates NSE:ORIANA with a GF Score™ of 19/100. The stock has 3 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Oriana Power ranks worse than 91.79% 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 -0.05 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:ORIANA' s Beneish M-Score Range Over the Past 10 Years
Min: -6.94   Med: -0.49   Max: -0.05
Current: -0.05

During the past 5 years, the highest Beneish M-Score of Oriana Power was -0.05. The lowest was -6.94. And the median was -0.49.

Oriana Power Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Oriana Power'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.

Oriana Power Beneish M-Score Chart

Oriana Power Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -6.94 -0.49 -0.05

Oriana Power Semi-Annual Data
Mar21 Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 -0.49 0.00 -0.05 0.00

Oriana Power Beneish M-Score Competitor Comparison

For the Utilities - Renewable subindustry, Oriana Power'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.

Oriana Power Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Oriana Power's Beneish M-Score distribution charts can be found below:

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


NSE:ORIANA
19GF Score
Oriana Power Ltd NSE:ORIANA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Oriana Power 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 Oriana Power 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 * 2.0333+0.528 * 0.9556+0.404 * 2.3278+0.892 * 2.5729+0.115 * 0.4252
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5526+4.679 * -0.096801-0.327 * 0.9898
=-0.05

* 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 ₹4,183 Mil.
Revenue was ₹9,851 Mil.
Gross Profit was ₹2,652 Mil.
Total Current Assets was ₹9,150 Mil.
Total Assets was ₹13,629 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,280 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹85 Mil.
Selling, General, & Admin. Expense(SGA) was ₹58 Mil.
Total Current Liabilities was ₹6,242 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,201 Mil.
Net Income was ₹1,586 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹2,905 Mil.
 Total Receivables was ₹800 Mil.
Revenue was ₹3,829 Mil.
Gross Profit was ₹985 Mil.
Total Current Assets was ₹2,068 Mil.
Total Assets was ₹4,102 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,879 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹20 Mil.
Selling, General, & Admin. Expense(SGA) was ₹41 Mil.
Total Current Liabilities was ₹1,240 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,327 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)
=(4183.32 / 9851.025) / (799.642 / 3828.749)
=0.424658 / 0.208852
=2.0333

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)
=(984.956 / 3828.749) / (2651.898 / 9851.025)
=0.257253 / 0.2692
=0.9556

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 - (9149.622 + 3280.032) / 13629.378) / (1 - (2068.125 + 1878.639) / 4101.871)
=0.088025 / 0.037814
=2.3278

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
=9851.025 / 3828.749
=2.5729

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))
=(20.375 / (20.375 + 1878.639)) / (84.908 / (84.908 + 3280.032))
=0.010729 / 0.025233
=0.4252

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)
=(58.011 / 9851.025) / (40.799 / 3828.749)
=0.005889 / 0.010656
=0.5526

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)
=((2201.219 + 6242.383) / 13629.378) / ((1327.247 + 1240.038) / 4101.871)
=0.619515 / 0.625881
=0.9898

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
=(1585.542 - 0 - 2904.88) / 13629.378
=-0.096801

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.

Oriana Power has a M-score of -0.05 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 -0.05 mean?
Oriana Power (NSE:ORIANA) has a Beneish M-Score of -0.05 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oriana Power and its competitors. According to the industry distribution chart, Oriana Power ranks #358 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 91.8%.
Is Oriana Power's Beneish M-Score too high?
Oriana Power's current Beneish M-Score is -0.05. Based on the distribution chart, Oriana Power ranks #358 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Oriana Power has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Oriana Power's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Oriana Power ranks #358 out of 390 companies for Beneish M-Score. This places Oriana Power 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Oriana Power and its competitors. Oriana Power's current Beneish M-Score is -0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oriana Power stock overvalued right now?
Oriana Power (NSE:ORIANA) has a current Beneish M-Score of -0.05. The current Beneish M-Score is -0.05. Oriana Power's overall GF Score™ is 19/100 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 Oriana Power (NSE:ORIANA), the current Beneish M-Score is -0.05 as of Jul. 01, 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.

Oriana Power Business Description

Address Sector 125, Third Floor, Plot No 19 and 20, Gautam Buddha Nagar, Amity University Dadri, Noida, UP, IND, 201313
Oriana Power Ltd is engaged across the renewable energy value chain, including solar power projects engineering, procurement, and construction (EPC), power generation, compressed bio-gas, battery energy storage systems (BESS), green hydrogen, and e-fuels, as well as leasing, operation, and maintenance services. It also undertakes the construction, installation, and maintenance of related power infrastructure, such as power stations, cables, and lines. Its business operations are mainly divided into two segments: EPC Segment includes Engineering, Procurement and Construction of renewable energy projects; and Resco Segment comprises the Generation and sale of power under the Renewable Energy Service Company model. The group generates the majority of revenue from the EPC Segment.
19GF 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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