Q-Line Biotech (NSE:QLINE) Beneish M-Score: 0.00 (As of Jun. 29, 2026)


NSE:QLINE Q-Line Biotech Ltd NSE:QLINE
12 GF Score
Price ₹546.50
! 2 Warning Signs
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What is Q-Line Biotech Beneish M-Score?

Q-Line Biotech NSE:QLINE -5.15% 12 Beneish M-Score is 0.00 as of Jun. 29, 2026. GuruFocus rates NSE:QLINE with a GF Score™ of 12/100. The stock has 2 warning signs investors should review. Among 765 Medical Devices & Instruments companies, Q-Line Biotech ranks worse than 130718.82% 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.

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

During the past 3 years, the highest Beneish M-Score of Q-Line Biotech was 0.00. The lowest was 0.00. And the median was 0.00.

Q-Line Biotech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Q-Line Biotech'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.

Q-Line Biotech Beneish M-Score Chart

Q-Line Biotech Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 0.00

Q-Line Biotech Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 0.00

NSE:QLINE vs ABT, SYK, MDT: Beneish M-Score Comparison

For the Medical Devices subindustry, Q-Line Biotech'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.

Q-Line Biotech Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Q-Line Biotech's Beneish M-Score distribution charts can be found below:

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


NSE:QLINE
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Q-Line Biotech Ltd NSE:QLINE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Q-Line Biotech 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 Q-Line Biotech 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 * 2.3227+0.528 * 0.969+0.404 * 0.9779+0.892 * 1.5408+0.115 * 0.756
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7931+4.679 * 0.064663-0.327 * 1.1108
=-0.53

* 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 ₹946 Mil.
Revenue was ₹3,138 Mil.
Gross Profit was ₹1,323 Mil.
Total Current Assets was ₹2,646 Mil.
Total Assets was ₹4,555 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,137 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹73 Mil.
Selling, General, & Admin. Expense(SGA) was ₹215 Mil.
Total Current Liabilities was ₹1,791 Mil.
Long-Term Debt & Capital Lease Obligation was ₹824 Mil.
Net Income was ₹281 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-13 Mil.
 Total Receivables was ₹264 Mil.
Revenue was ₹2,036 Mil.
Gross Profit was ₹832 Mil.
Total Current Assets was ₹1,985 Mil.
Total Assets was ₹3,392 Mil.
Property, Plant and Equipment(Net PPE) was ₹819 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹39 Mil.
Selling, General, & Admin. Expense(SGA) was ₹176 Mil.
Total Current Liabilities was ₹1,403 Mil.
Long-Term Debt & Capital Lease Obligation was ₹351 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)
=(946.382 / 3137.804) / (264.436 / 2036.461)
=0.301606 / 0.129851
=2.3227

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)
=(832.176 / 2036.461) / (1323.23 / 3137.804)
=0.408638 / 0.421706
=0.969

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 - (2646.383 + 1136.752) / 4554.859) / (1 - (1985.315 + 819.394) / 3392.46)
=0.169429 / 0.173252
=0.9779

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
=3137.804 / 2036.461
=1.5408

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))
=(39.277 / (39.277 + 819.394)) / (73.212 / (73.212 + 1136.752))
=0.045742 / 0.060508
=0.756

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)
=(215.286 / 3137.804) / (176.169 / 2036.461)
=0.06861 / 0.086507
=0.7931

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)
=((824.118 + 1791.432) / 4554.859) / ((350.93 + 1402.775) / 3392.46)
=0.574233 / 0.516942
=1.1108

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
=(281.309 - 0 - -13.22) / 4554.859
=0.064663

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.

Q-Line Biotech has a M-score of -0.53 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 0.00 mean?
Q-Line Biotech (NSE:QLINE) has a Beneish M-Score of 0.00 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Q-Line Biotech and its competitors. According to the industry distribution chart, Q-Line Biotech ranks #999999 out of 765 companies in the Medical Devices & Instruments industry.
Is Q-Line Biotech's Beneish M-Score too high?
Q-Line Biotech's current Beneish M-Score is 0.00. Based on the distribution chart, Q-Line Biotech ranks #999999 out of 765 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Q-Line Biotech has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Q-Line Biotech's Beneish M-Score compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Q-Line Biotech ranks #999999 out of 765 companies for Beneish M-Score. This places Q-Line Biotech 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Q-Line Biotech and its competitors. Q-Line Biotech's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Q-Line Biotech stock overvalued right now?
Q-Line Biotech (NSE:QLINE) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Q-Line Biotech's overall GF Score™ is 12/100 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 Q-Line Biotech (NSE:QLINE), the current Beneish M-Score is 0.00 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.

Q-Line Biotech Business Description

Address Kanpur Road Adjacent Transport Nagar Metro Station, 298-281, Transport Nagar, Lucknow, UP, IND, 226012
Q-Line Biotech Ltd is engaged in the business of developing, manufacturing and marketing of diverse range of reagents (including kits and POC devices) & consumables and manufacturing, importing, distribution/supply of diagnostic equipment for different diagnostic healthcare needs. The company supplies diagnostic equipment and IVD products for different diagnostic healthcare needs directly or through its distributors majorly to diagnostic service providers, hospitals and medical colleges. It is engaged in Manufacturing and Trading into Biochemistry Regnant, Instruments and Consumables. The majority of revenue is derived from the Manufacturing segment.
12GF Score

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