Plada Infotech Services (NSE:PLADAINFO) Beneish M-Score: -2.67 (As of Jun. 29, 2026)


NSE:PLADAINFO Plada Infotech Services Ltd NSE:PLADAINFO
16 GF Score
Price ₹11.45
! 3 Warning Signs
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What is Plada Infotech Services Beneish M-Score?

Plada Infotech Services NSE:PLADAINFO 16 Beneish M-Score is -2.67 as of Jun. 29, 2026. GuruFocus rates NSE:PLADAINFO with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 1,020 Business Services companies, Plada Infotech Services ranks better than 59.9% 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 -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:PLADAINFO' s Beneish M-Score Range Over the Past 10 Years
Min: -2.67   Med: -2.51   Max: -1.09
Current: -2.67

During the past 5 years, the highest Beneish M-Score of Plada Infotech Services was -1.09. The lowest was -2.67. And the median was -2.51.

Plada Infotech Services Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Plada Infotech Services'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.

Plada Infotech Services Beneish M-Score Chart

Plada Infotech Services Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -2.51 -1.09 -2.67

Plada Infotech Services Semi-Annual Data
Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -2.51 -1.09 -2.67

NSE:PLADAINFO vs CTAS, CPRT, ULS: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Plada Infotech Services'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.

Plada Infotech Services Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Plada Infotech Services's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Plada Infotech Services's Beneish M-Score falls into.


NSE:PLADAINFO
16GF Score
Plada Infotech Services Ltd NSE:PLADAINFO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Plada Infotech Services 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 Plada Infotech Services 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 * 1.0529+0.528 * 0.9997+0.404 * 1.2999+0.892 * 1.0592+0.115 * 0.2501
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7802+4.679 * -0.035137-0.327 * 1.0737
=-2.67

* 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 ₹173.4 Mil.
Revenue was ₹671.5 Mil.
Gross Profit was ₹671.5 Mil.
Total Current Assets was ₹255.7 Mil.
Total Assets was ₹437.8 Mil.
Property, Plant and Equipment(Net PPE) was ₹4.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹8.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹26.7 Mil.
Total Current Liabilities was ₹114.8 Mil.
Long-Term Debt & Capital Lease Obligation was ₹87.4 Mil.
Net Income was ₹18.8 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹34.2 Mil.
 Total Receivables was ₹155.5 Mil.
Revenue was ₹633.9 Mil.
Gross Profit was ₹633.7 Mil.
Total Current Assets was ₹253.8 Mil.
Total Assets was ₹391.2 Mil.
Property, Plant and Equipment(Net PPE) was ₹15.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹14.2 Mil.
Total Current Liabilities was ₹56.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹111.9 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)
=(173.366 / 671.461) / (155.452 / 633.914)
=0.258192 / 0.245226
=1.0529

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)
=(633.732 / 633.914) / (671.461 / 671.461)
=0.999713 / 1
=0.9997

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 - (255.716 + 4.811) / 437.77) / (1 - (253.812 + 15.54) / 391.2)
=0.404877 / 0.311472
=1.2999

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
=671.461 / 633.914
=1.0592

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))
=(2.957 / (2.957 + 15.54)) / (8.527 / (8.527 + 4.811))
=0.159864 / 0.639301
=0.2501

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)
=(26.738 / 671.461) / (14.18 / 633.914)
=0.039821 / 0.022369
=1.7802

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)
=((87.391 + 114.802) / 437.77) / ((111.935 + 56.342) / 391.2)
=0.46187 / 0.430156
=1.0737

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
=(18.834 - 0 - 34.216) / 437.77
=-0.035137

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.

Plada Infotech Services has a M-score of -2.67 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 -2.67 mean?
Plada Infotech Services (NSE:PLADAINFO) has a Beneish M-Score of -2.67 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Plada Infotech Services and its competitors. According to the industry distribution chart, Plada Infotech Services ranks #409 out of 1020 companies in the Business Services industry, placing it in the top 40.1%.
Is Plada Infotech Services' Beneish M-Score too high?
Plada Infotech Services' current Beneish M-Score is -2.67. Based on the distribution chart, Plada Infotech Services ranks #409 out of 1020 companies in the Business Services industry, which is above the industry midpoint. Overall, Plada Infotech Services has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Plada Infotech Services' Beneish M-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Plada Infotech Services ranks #409 out of 1020 companies for Beneish M-Score. This puts Plada Infotech Services 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Plada Infotech Services and its competitors. Plada Infotech Services's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Plada Infotech Services stock overvalued right now?
Plada Infotech Services (NSE:PLADAINFO) has a current Beneish M-Score of -2.67. The current Beneish M-Score is -2.67. Plada Infotech Services' overall GF Score™ is 16/100 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 Plada Infotech Services (NSE:PLADAINFO), the current Beneish M-Score is -2.67 as of Jun. 29, 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.

Plada Infotech Services Business Description

Address Off. Old Nagardas Road, Santosh A. Mishra Compound, Mograpada, Mogra Village, Andheri East, Mumbai, MH, IND, 400069
Plada Infotech Services Ltd is a company specializing in delivering comprehensive Business Process Outsourcing services tailored to its clients' specific needs. The company focuses on providing end-to-end solutions to its clients. It provides a wide range of services, ranging from recruitment & payroll management, merchant acquisition, field support, software solutions, e-commerce, business correspondence, seller onboarding, account management, and others. Additionally, it offers products like Kundali (HR suite), D2B loan, Merchant World Loyalty platform, and PRUF (Pay Upon Delivery) solutions. The company's business activities mainly fall within a single business segment, i.e., merchant services and programme. Geographically, it operates predominantly in India.
16GF 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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