Owais Metal and Mineral Processing (NSE:OWAIS) Beneish M-Score: -0.23 (As of Jul. 28, 2026)

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NSE:OWAIS Owais Metal and Mineral Processing Ltd NSE:OWAIS
18 GF Score
Price ₹99.50
! 4 Warning Signs
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What is Owais Metal and Mineral Processing Beneish M-Score?

Owais Metal and Mineral Processing NSE:OWAIS +0.20% 18 Beneish M-Score is -0.23 as of Jul. 28, 2026. GuruFocus rates NSE:OWAIS with a GF Score™ of 18/100. The stock has 4 warning signs investors should review. Among 676 Metals & Mining companies, Owais Metal and Mineral Processing ranks worse than 85.8% 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 -0.23 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Owais Metal and Mineral Processing's Beneish M-Score or its related term are showing as below:

NSE:OWAIS' s Beneish M-Score Range Over the Past 10 Years
Min: -0.23   Med: -0.23   Max: -0.23
Current: -0.23

During the past 3 years, the highest Beneish M-Score of Owais Metal and Mineral Processing was -0.23. The lowest was -0.23. And the median was -0.23.

Owais Metal and Mineral Processing Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Owais Metal and Mineral Processing'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.

Owais Metal and Mineral Processing Beneish M-Score Chart

Owais Metal and Mineral Processing Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -0.23

Owais Metal and Mineral Processing Semi-Annual Data
Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 -0.23 0.00

Owais Metal and Mineral Processing Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Owais Metal and Mineral Processing'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.

Owais Metal and Mineral Processing Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Owais Metal and Mineral Processing's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Owais Metal and Mineral Processing's Beneish M-Score falls into.


NSE:OWAIS
18GF Score
Owais Metal and Mineral Processing Ltd NSE:OWAIS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Owais Metal and Mineral Processing 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 Owais Metal and Mineral Processing 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 * 1.595+0.528 * 0.9226+0.404 * 0.9129+0.892 * 2.6661+0.115 * 0.8222
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.977+4.679 * 0.157358-0.327 * 1.7736
=-0.23

* 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 ₹932 Mil.
Revenue was ₹2,134 Mil.
Gross Profit was ₹694 Mil.
Total Current Assets was ₹1,459 Mil.
Total Assets was ₹1,978 Mil.
Property, Plant and Equipment(Net PPE) was ₹167 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹20 Mil.
Selling, General, & Admin. Expense(SGA) was ₹5 Mil.
Total Current Liabilities was ₹669 Mil.
Long-Term Debt & Capital Lease Obligation was ₹190 Mil.
Net Income was ₹470 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹159 Mil.
 Total Receivables was ₹219 Mil.
Revenue was ₹800 Mil.
Gross Profit was ₹240 Mil.
Total Current Assets was ₹609 Mil.
Total Assets was ₹906 Mil.
Property, Plant and Equipment(Net PPE) was ₹120 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹12 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1 Mil.
Total Current Liabilities was ₹160 Mil.
Long-Term Debt & Capital Lease Obligation was ₹61 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)
=(932.487 / 2134.107) / (219.286 / 800.473)
=0.436945 / 0.273946
=1.595

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)
=(240.32 / 800.473) / (694.486 / 2134.107)
=0.300222 / 0.325422
=0.9226

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 - (1458.732 + 167.473) / 1978.303) / (1 - (609.42 + 119.552) / 905.52)
=0.17798 / 0.194969
=0.9129

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
=2134.107 / 800.473
=2.6661

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))
=(11.616 / (11.616 + 119.552)) / (20.215 / (20.215 + 167.473))
=0.088558 / 0.107705
=0.8222

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)
=(4.59 / 2134.107) / (0.871 / 800.473)
=0.002151 / 0.001088
=1.977

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)
=((189.71 + 669.336) / 1978.303) / ((61.328 + 160.367) / 905.52)
=0.434234 / 0.244826
=1.7736

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
=(470.191 - 0 - 158.889) / 1978.303
=0.157358

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.

Owais Metal and Mineral Processing has a M-score of -0.23 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 -0.23 mean?
Owais Metal and Mineral Processing (NSE:OWAIS) has a Beneish M-Score of -0.23 as of Jul. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Owais Metal and Mineral Processing and its competitors. According to the industry distribution chart, Owais Metal and Mineral Processing ranks #580 out of 676 companies in the Metals & Mining industry, placing it in the top 85.8%.
Is Owais Metal and Mineral Processing's Beneish M-Score too high?
Owais Metal and Mineral Processing's current Beneish M-Score is -0.23. Based on the distribution chart, Owais Metal and Mineral Processing ranks #580 out of 676 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Owais Metal and Mineral Processing has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Owais Metal and Mineral Processing's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Owais Metal and Mineral Processing ranks #580 out of 676 companies for Beneish M-Score. This places Owais Metal and Mineral Processing 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Owais Metal and Mineral Processing and its competitors. Owais Metal and Mineral Processing's current Beneish M-Score is -0.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Owais Metal and Mineral Processing stock overvalued right now?
Owais Metal and Mineral Processing (NSE:OWAIS) has a current Beneish M-Score of -0.23. The current Beneish M-Score is -0.23. Owais Metal and Mineral Processing's overall GF Score™ is 18/100 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 Owais Metal and Mineral Processing (NSE:OWAIS), the current Beneish M-Score is -0.23 as of Jul. 28, 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.

Owais Metal and Mineral Processing Business Description

Address C/o Sayyad Akhtar Ali, Old Baipass Road, Near Ahinsa Gram Old Jaora, Vahid Nagar, Ratlam, MP, IND, 457001
Owais Metal and Mineral Processing Ltd is a company engaged in the manufacture and processing of various metals and minerals diversified across the broad spectrum of natural resources, with main interests in manufacturing and processing metal and minerals. The company is engaged in the manufacturing and processing of the following products which are Manganese Oxide (MNO), MC Ferro Manganese, Manufacturing Wood Charcoal, and Processing of Minerals such as Ferro Alloy, Quartz, and Manganese Ores. Its products, like Manganese Oxide, are used in the fertilizer industry and are also used by Manganese Sulphate Plants. Geographically, the company operates only in India.
18GF 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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