Powerica (NSE:POWERICA) Beneish M-Score: -2.24 (As of Jul. 09, 2026)


NSE:POWERICA Powerica Ltd NSE:POWERICA
17 GF Score
Price ₹542.70
! 2 Warning Signs
View Full Analysis

What is Powerica Beneish M-Score?

Powerica NSE:POWERICA -3.50% 17 Beneish M-Score is -2.24 as of Jul. 09, 2026. GuruFocus rates NSE:POWERICA with a GF Score™ of 17/100. The stock has 2 warning signs investors should review. Among 2,916 Industrial Products companies, Powerica ranks worse than 66.8% 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.

Good Sign:

Beneish M-Score -2.24 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:POWERICA' s Beneish M-Score Range Over the Past 10 Years
Min: -2.24   Med: -2.24   Max: -2.24
Current: -2.24

During the past 3 years, the highest Beneish M-Score of Powerica was -2.24. The lowest was -2.24. And the median was -2.24.

Powerica Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Powerica'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.

Powerica Beneish M-Score Chart

Powerica Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -2.24

Powerica Semi-Annual Data
Mar23 Mar24 Mar25 Sep25
Beneish M-Score 0.00 0.00 -2.24 0.00

NSE:POWERICA vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Powerica'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.

Powerica Beneish M-Score vs Industrial Products Industry

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

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


NSE:POWERICA
17GF Score
Powerica Ltd NSE:POWERICA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Powerica 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 Powerica 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 * 1.0545+0.528 * 1.1047+0.404 * 1.0914+0.892 * 1.2015+0.115 * 1.3133
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8224+4.679 * -0.033373-0.327 * 0.9664
=-2.24

* 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 ₹4,286 Mil.
Revenue was ₹26,426 Mil.
Gross Profit was ₹8,284 Mil.
Total Current Assets was ₹11,242 Mil.
Total Assets was ₹24,148 Mil.
Property, Plant and Equipment(Net PPE) was ₹12,087 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,165 Mil.
Selling, General, & Admin. Expense(SGA) was ₹470 Mil.
Total Current Liabilities was ₹8,407 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,455 Mil.
Net Income was ₹1,668 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹2,474 Mil.
 Total Receivables was ₹3,383 Mil.
Revenue was ₹21,994 Mil.
Gross Profit was ₹7,617 Mil.
Total Current Assets was ₹10,392 Mil.
Total Assets was ₹20,849 Mil.
Property, Plant and Equipment(Net PPE) was ₹9,809 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,280 Mil.
Selling, General, & Admin. Expense(SGA) was ₹476 Mil.
Total Current Liabilities was ₹8,403 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,300 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)
=(4285.8 / 26425.7) / (3382.8 / 21993.9)
=0.162183 / 0.153806
=1.0545

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)
=(7616.5 / 21993.9) / (8283.8 / 26425.7)
=0.346301 / 0.313475
=1.1047

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 - (11242.2 + 12087.1) / 24148.3) / (1 - (10392.3 + 9808.9) / 20849.1)
=0.033915 / 0.031076
=1.0914

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
=26425.7 / 21993.9
=1.2015

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))
=(1279.8 / (1279.8 + 9808.9)) / (1164.6 / (1164.6 + 12087.1))
=0.115415 / 0.087883
=1.3133

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)
=(470.1 / 26425.7) / (475.8 / 21993.9)
=0.01779 / 0.021633
=0.8224

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)
=((2455 + 8406.6) / 24148.3) / ((1300.3 + 8403.3) / 20849.1)
=0.449787 / 0.465421
=0.9664

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
=(1668.2 - 0 - 2474.1) / 24148.3
=-0.033373

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.

Powerica has a M-score of -2.24 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 -2.24 mean?
Powerica (NSE:POWERICA) has a Beneish M-Score of -2.24 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Powerica and its competitors. According to the industry distribution chart, Powerica ranks #1948 out of 2916 companies in the Industrial Products industry, placing it in the top 66.8%.
Is Powerica's Beneish M-Score too high?
Powerica's current Beneish M-Score is -2.24. Based on the distribution chart, Powerica ranks #1948 out of 2916 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Powerica has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Powerica's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Powerica ranks #1948 out of 2916 companies for Beneish M-Score. This places Powerica 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 Powerica and its competitors. Powerica's current Beneish M-Score is -2.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Powerica stock overvalued right now?
Powerica (NSE:POWERICA) has a current Beneish M-Score of -2.24. The current Beneish M-Score is -2.24. Powerica's overall GF Score™ is 17/100 with 2 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 Powerica (NSE:POWERICA), the current Beneish M-Score is -2.24 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.

Powerica Business Description

Other Exchanges 544744:India
Address Nariman Point, 9th Floor, Bakhtawar, Mumbai, MH, IND, 400 021
Powerica Ltd is an integrated power solutions provider specializing in diesel generator sets (DG sets), for both primary and standby applications. By integrating its DG set and MSLG offerings, The company provides a comprehensive range of generator sets with capacities ranging from 7.5 kVA to 10,000 kVA, designed to meet the distinctive requirements of diverse industries and applications. Subsequently, the company has developed capabilities as an engineering, procurement and construction (EPC) contractor as well as an operation and maintenance (O&M) service provider for balance of plant (BoP).
17GF Score

Get the complete analysis for NSE:POWERICA

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

₹542.70
Price