Parth Electricals & Engineering (NSE:PARTH) Beneish M-Score: -2.03 (As of Jul. 09, 2026)


NSE:PARTH Parth Electricals & Engineering Ltd NSE:PARTH
18 GF Score
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What is Parth Electricals & Engineering Beneish M-Score?

Parth Electricals & Engineering NSE:PARTH +4.61% 18 Beneish M-Score is -2.03 as of Jul. 09, 2026. GuruFocus rates NSE:PARTH with a GF Score™ of 18/100. The stock has 5 warning signs investors should review. Among 2,916 Industrial Products companies, Parth Electricals & Engineering ranks worse than 76.85% 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.

Good Sign:

Beneish M-Score -2.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Parth Electricals & Engineering's Beneish M-Score or its related term are showing as below:

NSE:PARTH' s Beneish M-Score Range Over the Past 10 Years
Min: -2.03   Med: -1.67   Max: -1.31
Current: -2.03

During the past 4 years, the highest Beneish M-Score of Parth Electricals & Engineering was -1.31. The lowest was -2.03. And the median was -1.67.

Parth Electricals & Engineering Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Parth Electricals & Engineering'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.

Parth Electricals & Engineering Beneish M-Score Chart

Parth Electricals & Engineering Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.31 -2.03

Parth Electricals & Engineering Semi-Annual Data
Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -1.31 0.00 -2.03

NSE:PARTH vs VRT, BE: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Parth Electricals & Engineering'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.

Parth Electricals & Engineering Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Parth Electricals & Engineering's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Parth Electricals & Engineering's Beneish M-Score falls into.


NSE:PARTH
18GF Score
Parth Electricals & Engineering Ltd NSE:PARTH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Parth Electricals & Engineering 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 Parth Electricals & Engineering 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 * 1.2059+0.528 * 0.7994+0.404 * 0.6019+0.892 * 1.1337+0.115 * 1.2824
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.1512+4.679 * 0.097464-0.327 * 0.6446
=-2.03

* 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 ₹358 Mil.
Revenue was ₹1,980 Mil.
Gross Profit was ₹488 Mil.
Total Current Assets was ₹1,374 Mil.
Total Assets was ₹1,878 Mil.
Property, Plant and Equipment(Net PPE) was ₹402 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹25 Mil.
Selling, General, & Admin. Expense(SGA) was ₹19 Mil.
Total Current Liabilities was ₹750 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
Net Income was ₹142 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-41 Mil.
 Total Receivables was ₹262 Mil.
Revenue was ₹1,746 Mil.
Gross Profit was ₹344 Mil.
Total Current Assets was ₹749 Mil.
Total Assets was ₹1,068 Mil.
Property, Plant and Equipment(Net PPE) was ₹222 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹18 Mil.
Selling, General, & Admin. Expense(SGA) was ₹8 Mil.
Total Current Liabilities was ₹662 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)
=(358.268 / 1979.851) / (262.056 / 1746.384)
=0.180957 / 0.150056
=1.2059

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)
=(344.377 / 1746.384) / (488.373 / 1979.851)
=0.197194 / 0.246672
=0.7994

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 - (1373.698 + 401.745) / 1877.578) / (1 - (749.453 + 221.655) / 1067.589)
=0.054397 / 0.090373
=0.6019

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
=1979.851 / 1746.384
=1.1337

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))
=(17.808 / (17.808 + 221.655)) / (24.732 / (24.732 + 401.745))
=0.074366 / 0.057991
=1.2824

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)
=(19.242 / 1979.851) / (7.89 / 1746.384)
=0.009719 / 0.004518
=2.1512

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 + 750.159) / 1877.578) / ((0 + 661.681) / 1067.589)
=0.399535 / 0.61979
=0.6446

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
=(142.379 - 0 - -40.617) / 1877.578
=0.097464

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.

Parth Electricals & Engineering has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.03 mean?
Parth Electricals & Engineering (NSE:PARTH) has a Beneish M-Score of -2.03 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Parth Electricals & Engineering and its competitors. According to the industry distribution chart, Parth Electricals & Engineering ranks #2241 out of 2916 companies in the Industrial Products industry, placing it in the top 76.9%.
Is Parth Electricals & Engineering's Beneish M-Score too high?
Parth Electricals & Engineering's current Beneish M-Score is -2.03. Based on the distribution chart, Parth Electricals & Engineering ranks #2241 out of 2916 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Parth Electricals & Engineering has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Parth Electricals & Engineering's Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Parth Electricals & Engineering ranks #2241 out of 2916 companies for Beneish M-Score. This places Parth Electricals & Engineering 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Parth Electricals & Engineering and its competitors. Parth Electricals & Engineering's current Beneish M-Score is -2.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Parth Electricals & Engineering stock overvalued right now?
Parth Electricals & Engineering (NSE:PARTH) has a current Beneish M-Score of -2.03. The current Beneish M-Score is -2.03. Parth Electricals & Engineering's overall GF Score™ is 18/100 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 Parth Electricals & Engineering (NSE:PARTH), the current Beneish M-Score is -2.03 as of Jul. 09, 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.

Parth Electricals & Engineering Business Description

Address Ellora Park Main Road, 301, 3rd Floor, Riddhi Siddhi Elanza, Behind Domino's Pizza Outlet, Subhanpura, Vadodara, GJ, IND, 390023
Parth Electricals & Engineering Ltd is a technology-driven company with a focus on quality, design, and product development. It is engaged in the business of manufacturing electric switch gear equipment and, distribution of such products. providing services and undertaking the project work, thus operating in a single business segment.
18GF Score

Get the complete analysis for NSE:PARTH

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

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