Saakshi Medtech and Panels (NSE:SAAKSHI) Beneish M-Score: -2.57 (As of Sep. 12, 2026)

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NSE:SAAKSHI Saakshi Medtech and Panels Ltd NSE:SAAKSHI
50 GF Score
Price ₹345.40
GF Value ₹220.57
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Saakshi Medtech and Panels Beneish M-Score?

Saakshi Medtech and Panels NSE:SAAKSHI -1.43% 50 Beneish M-Score is -2.57 as of Sep. 12, 2026. GuruFocus rates NSE:SAAKSHI with a GF Score™ of 50/100 and a GF Value™ of ₹220.57 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,939 Industrial Products companies, Saakshi Medtech and Panels ranks better than 61.52% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:SAAKSHI' s Beneish M-Score Range Over the Past 10 Years
Min: -2.57   Med: -2.17   Max: -0.1
Current: -2.57

During the past 7 years, the highest Beneish M-Score of Saakshi Medtech and Panels was -0.10. The lowest was -2.57. And the median was -2.17.

Saakshi Medtech and Panels Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Saakshi Medtech and Panels'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.

Saakshi Medtech and Panels Beneish M-Score Chart

Saakshi Medtech and Panels Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial -2.54 -2.17 -0.10 -1.93 -2.57

Saakshi Medtech and Panels Semi-Annual Data
Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score Get a 7-Day Free Trial -2.54 -2.17 -0.10 -1.93 -2.57

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

For the Electrical Equipment & Parts subindustry, Saakshi Medtech and Panels'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.

Saakshi Medtech and Panels Beneish M-Score vs Industrial Products Industry

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

* The bar in red indicates where Saakshi Medtech and Panels's Beneish M-Score falls into.


NSE:SAAKSHI
50GF Score
Saakshi Medtech and Panels Ltd NSE:SAAKSHI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Saakshi Medtech and Panels 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 Saakshi Medtech and Panels 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 * 0.9541+0.528 * 0.896+0.404 * 0.5664+0.892 * 1.2496+0.115 * 1.0444
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.033722-0.327 * 1.1769
=-2.57

* 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 ₹262.5 Mil.
Revenue was ₹1,155.1 Mil.
Gross Profit was ₹512.7 Mil.
Total Current Assets was ₹613.2 Mil.
Total Assets was ₹1,569.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹928.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹47.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹298.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹161.4 Mil.
Net Income was ₹122.9 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹175.8 Mil.
 Total Receivables was ₹220.1 Mil.
Revenue was ₹924.3 Mil.
Gross Profit was ₹367.6 Mil.
Total Current Assets was ₹544.4 Mil.
Total Assets was ₹1,313.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹727.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹38.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹27.5 Mil.
Total Current Liabilities was ₹186.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹140.5 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)
=(262.45 / 1155.064) / (220.119 / 924.311)
=0.227217 / 0.238144
=0.9541

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)
=(367.64 / 924.311) / (512.741 / 1155.064)
=0.397745 / 0.443907
=0.896

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 - (613.202 + 928.822) / 1569.863) / (1 - (544.357 + 727.859) / 1313.337)
=0.017733 / 0.03131
=0.5664

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
=1155.064 / 924.311
=1.2496

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))
=(38.9 / (38.9 + 727.859)) / (47.424 / (47.424 + 928.822))
=0.050733 / 0.048578
=1.0444

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 / 1155.064) / (27.529 / 924.311)
=0 / 0.029783
=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)
=((161.382 + 298.174) / 1569.863) / ((140.473 + 186.213) / 1313.337)
=0.292736 / 0.248745
=1.1769

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
=(122.897 - 0 - 175.836) / 1569.863
=-0.033722

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.

Saakshi Medtech and Panels has a M-score of -2.57 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 -2.57 mean?
Saakshi Medtech and Panels (NSE:SAAKSHI) has a Beneish M-Score of -2.57 as of Sep. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Saakshi Medtech and Panels and its competitors. According to the industry distribution chart, Saakshi Medtech and Panels ranks #1131 out of 2939 companies in the Industrial Products industry, placing it in the top 38.5%.
Is Saakshi Medtech and Panels' Beneish M-Score too high?
Saakshi Medtech and Panels' current Beneish M-Score is -2.57. Based on the distribution chart, Saakshi Medtech and Panels ranks #1131 out of 2939 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Saakshi Medtech and Panels has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Saakshi Medtech and Panels' Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Saakshi Medtech and Panels ranks #1131 out of 2939 companies for Beneish M-Score. This puts Saakshi Medtech and Panels 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 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 Saakshi Medtech and Panels and its competitors. Saakshi Medtech and Panels's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Saakshi Medtech and Panels stock overvalued right now?
Based on GuruFocus' analysis, Saakshi Medtech and Panels (NSE:SAAKSHI) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹220.57, compared to a current price of ₹345.40 — trading 56.6% above its estimated fair value. The current Beneish M-Score is -2.57. Saakshi Medtech and Panels' overall GF Score™ is 50/100 with 7 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 Saakshi Medtech and Panels (NSE:SAAKSHI), the current Beneish M-Score is -2.57 as of Sep. 12, 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 Saakshi Medtech and Panels (NSE:SAAKSHI) Overvalued in 2026?

Based on GuruFocus' analysis, Saakshi Medtech and Panels stock appears to be overvalued. The current stock price of ₹345.40 is trading 56.6% above its estimated GF Value™ of ₹220.57. GuruFocus considers Saakshi Medtech and Panels to be Significantly Overvalued.

Key valuation signals for NSE:SAAKSHI:

  • Beneish M-Score: -2.57
  • GF Value™: ₹220.57 vs. price of ₹345.40 (56.6% above fair value)
  • GF Score™: 50/100 with 7 warning signs

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

Saakshi Medtech and Panels Business Description

Address Plot No. EL-23, J Block, MIDC Industrial Area, Bhosari, Pune, MH, IND, 411026
Saakshi Medtech and Panels Ltd is a diversified company engaged in manufacturing Electrical Control Panels and Cabinets used in elevators, air compressors, renewable energy industry, oil & gas exploration industry, electrical vehicle charging stations, medical X-Ray Systems used in healthcare industry, fabrication works for locomotives, and wire harness division for their captive consumption in electrical control panels and for supply to air compressor industry. Their comprehensive solutions include design, process engineering, and manufacturing including fabrication, assembly, and testing facilities. It designs, programs, and assembles Electrical Control Panels and Cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems.
50GF Score

Get the complete analysis for NSE:SAAKSHI

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

₹345.40
Price
₹220.57
GF Value