Rico Auto Industries (NSE:RICOAUTO) Beneish M-Score: -2.85 (As of Jun. 27, 2026)

What is Rico Auto Industries Beneish M-Score?

Rico Auto Industries NSE:RICOAUTO -4.30% 72 Beneish M-Score is -2.85 as of Jun. 27, 2026. GuruFocus rates NSE:RICOAUTO with a GF Score™ of 72/100 and a GF Value™ of ₹112.33 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,274 Vehicles & Parts companies, Rico Auto Industries ranks better than 77.63% 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 -2.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:RICOAUTO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29 Med: -2.79 Max: -2.05
Current: -2.85

During the past 13 years, the highest Beneish M-Score of Rico Auto Industries was -2.05. The lowest was -3.29. And the median was -2.79.

Rico Auto Industries Beneish M-Score Related Terms

Rico Auto Industries Beneish M-Score Historical Data

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The historical data trend for Rico Auto Industries'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.

Rico Auto Industries Beneish M-Score Chart

Rico Auto Industries Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-3.00

-2.61

-3.29

-2.84

-2.85

Rico Auto Industries Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.84	0.00	0.00	0.00	-2.85

NSE:RICOAUTO vs ORLY, AZO: Beneish M-Score Comparison

For the Auto Parts subindustry, Rico Auto Industries'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.

Rico Auto Industries Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Rico Auto Industries's Beneish M-Score distribution charts can be found below:

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

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72GF Score

Rico Auto Industries Ltd NSE:RICOAUTO

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Rico Auto Industries 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 Rico Auto Industries for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8396

0.528 * 1.0391

0.404 * 1.1537

0.892 * 1.1199

0.115 * 1.128

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * -0.128442

0.327 * 0.9972

-2.85

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹3,540 Mil.
Revenue was ₹24,777 Mil.
Gross Profit was ₹9,354 Mil.
Total Current Assets was ₹7,170 Mil.
Total Assets was ₹21,421 Mil.
Property, Plant and Equipment(Net PPE) was ₹13,394 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,007 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹8,580 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4,264 Mil.
Net Income was ₹505 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹3,257 Mil.

Total Receivables was ₹3,764 Mil.
Revenue was ₹22,124 Mil.
Gross Profit was ₹8,679 Mil.
Total Current Assets was ₹7,462 Mil.
Total Assets was ₹20,017 Mil.
Property, Plant and Equipment(Net PPE) was ₹11,860 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,016 Mil.
Selling, General, & Admin. Expense(SGA) was ₹821 Mil.
Total Current Liabilities was ₹8,545 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,491 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)
	=	(3539.5 / 24777.3)	/	(3764.1 / 22124)
	=	0.142853	/	0.170137
	=	0.8396

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)
	=	(8678.9 / 22124)	/	(9353.6 / 24777.3)
	=	0.392284	/	0.377507
	=	1.0391

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 - (7169.8 + 13393.9) / 21421.3)	/	(1 - (7462.2 + 11859.9) / 20016.7)
	=	0.040035	/	0.034701
	=	1.1537

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
	=	24777.3	/	22124
	=	1.1199

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))
	=	(1015.6 / (1015.6 + 11859.9))	/	(1007 / (1007 + 13393.9))
	=	0.078878	/	0.069926
	=	1.128

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)
	=	(0 / 24777.3)	/	(821.1 / 22124)
	=	0	/	0.037114
	=	0

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)
	=	((4264.2 + 8580.2) / 21421.3)	/	((3491.4 + 8544.7) / 20016.7)
	=	0.599609	/	0.601303
	=	0.9972

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
	=	(505.1 - 0	-	3256.5)	/	21421.3
	=	-0.128442

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.

Rico Auto Industries has a M-score of -2.85 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 -2.85 mean?

Rico Auto Industries (NSE:RICOAUTO) has a Beneish M-Score of -2.85 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rico Auto Industries and its competitors. According to the industry distribution chart, Rico Auto Industries ranks #285 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 22.4%.

Is Rico Auto Industries' Beneish M-Score too high?

Rico Auto Industries' current Beneish M-Score is -2.85. Based on the distribution chart, Rico Auto Industries ranks #285 out of 1274 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Rico Auto Industries has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Rico Auto Industries' Beneish M-Score compare to ORLY and AZO?

According to the Vehicles & Parts industry distribution chart, Rico Auto Industries ranks #285 out of 1274 companies for Beneish M-Score. This places Rico Auto Industries in the top 22% of its industry — outperforming the majority of peers. 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 Vehicles & Parts company?

A good Beneish M-Score depends on the Vehicles & Parts 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 Rico Auto Industries and its competitors. Rico Auto Industries's current Beneish M-Score is -2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Rico Auto Industries stock overvalued right now?

Based on GuruFocus' analysis, Rico Auto Industries (NSE:RICOAUTO) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹112.33, compared to a current price of ₹134.74 — trading 20% above its estimated fair value. The current Beneish M-Score is -2.85. Rico Auto Industries' overall GF Score™ is 72/100 with 6 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 Rico Auto Industries (NSE:RICOAUTO), the current Beneish M-Score is -2.85 as of Jun. 27, 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.

Is Rico Auto Industries (NSE:RICOAUTO) Overvalued in 2026?

Based on GuruFocus' analysis, Rico Auto Industries stock appears to be overvalued. The current stock price of ₹134.74 is trading 20% above its estimated GF Value™ of ₹112.33. GuruFocus considers Rico Auto Industries to be Modestly Overvalued.

Key valuation signals for NSE:RICOAUTO:

Beneish M-Score: -2.85
GF Value™: ₹112.33 vs. price of ₹134.74 (20% above fair value)
GF Score™: 72/100 with 6 warning signs

No single metric tells the full story. See the NSE:RICOAUTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Rico Auto Industries Business Description

Industry Consumer Cyclical Vehicles & Parts

Comparable Companies NSE:GNA BOM:520073 BOM:500168 NSE:PRECAM NSE:STUDDS BOM:590065 BOM:543214 NSE:KROSS NSE:RANEHOLDIN BOM:520066 ORLY TSE:5802 AZO XKRX:012330 TSE:6902 TSE:5108 XPAR:ML SHSE:600660 XTER:KBX TSX:MG

Other Exchanges 520008:India

Address Delhi - Jaipur Highway, 38 KM Stone, Gurugram, HR, IND, 122001

Website https://www.ricoauto.com

Rico Auto Industries Ltd is an engineering group focused on the automobile industry, manufacturing and selling auto components for two-wheelers and four-wheelers. It supplies a broad range of high-precision, fully machined aluminum and ferrous components and assemblies to Original Equipment Manufacturers across the globe. The group's integrated services include design, development, tooling, casting, machining, assembly, and research and development across aluminum and ferrous products. Its product portfolio comprises oil pump assemblies, fuel system parts, lube oil filter heads, exhaust manifolds, turbine housings, gear housings, valve covers, and others. Geographically, the group generates a majority of its revenue from its business in India.

72GF Score

Get the complete analysis for NSE:RICOAUTO

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

₹134.74

Price

₹112.33

GF Value

View NSE:RICOAUTO Analysis

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