Scoda Tubes (NSE:SCODATUBES) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


NSE:SCODATUBES Scoda Tubes Ltd NSE:SCODATUBES
13 GF Score
Price ₹144.05
! 3 Warning Signs
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What is Scoda Tubes Beneish M-Score?

Scoda Tubes NSE:SCODATUBES -2.26% 13 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates NSE:SCODATUBES with a GF Score™ of 13/100. The stock has 3 warning signs investors should review. Among 592 Steel companies, Scoda Tubes ranks worse than 168918.75% 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 Scoda Tubes's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Scoda Tubes was -1.66. The lowest was -1.78. And the median was -1.72.

Scoda Tubes Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Scoda Tubes'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.

Scoda Tubes Beneish M-Score Chart

Scoda Tubes Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.78 -1.66 0.00

Scoda Tubes Quarterly Data
Mar22 Mar23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only -1.66 0.00 0.00 0.00 0.00

NSE:SCODATUBES vs NUE, STLD, RS: Beneish M-Score Comparison

For the Steel subindustry, Scoda Tubes'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.

Scoda Tubes Beneish M-Score vs Steel Industry

For the Steel industry and Basic Materials sector, Scoda Tubes's Beneish M-Score distribution charts can be found below:

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


NSE:SCODATUBES
13GF Score
Scoda Tubes Ltd NSE:SCODATUBES
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Scoda Tubes 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 Scoda Tubes 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ₹1,380 Mil.
Revenue was ₹5,187 Mil.
Gross Profit was ₹1,654 Mil.
Total Current Assets was ₹4,445 Mil.
Total Assets was ₹6,879 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,938 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹92 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹2,499 Mil.
Long-Term Debt & Capital Lease Obligation was ₹459 Mil.
Net Income was ₹388 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-138 Mil.
 Total Receivables was ₹0 Mil.
Revenue was ₹4,849 Mil.
Gross Profit was ₹1,485 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹0 Mil.
Property, Plant and Equipment(Net PPE) was ₹0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹181 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 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)
=(1379.55 / 5186.5) / (0 / 4848.9)
=0.265989 / 0
=

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)
=(1484.94 / 4848.9) / (1654.19 / 5186.5)
=0.306243 / 0.318941
=

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 - (4445 + 1937.56) / 6878.96) / (1 - (0 + 0) / 0)
=0.072162 /
=

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
=5186.5 / 4848.9
=

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))
=(181.27 / (181.27 + 0)) / (92.17 / (92.17 + 1937.56))
=1 / 0.04541
=

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 / 5186.5) / (0 / 4848.9)
=0 / 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)
=((459.33 + 2498.96) / 6878.96) / ((0 + 0) / 0)
=0.430049 /
=

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
=(388.43 - 0 - -137.94) / 6878.96
=0.076519

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Scoda Tubes (NSE:SCODATUBES) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Scoda Tubes and its competitors. According to the industry distribution chart, Scoda Tubes ranks #999999 out of 592 companies in the Steel industry.
Is Scoda Tubes' Beneish M-Score too high?
Scoda Tubes' current Beneish M-Score is 0.00. Based on the distribution chart, Scoda Tubes ranks #999999 out of 592 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Scoda Tubes has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Scoda Tubes' Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Scoda Tubes ranks #999999 out of 592 companies for Beneish M-Score. This places Scoda Tubes 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Scoda Tubes and its competitors. Scoda Tubes'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 Scoda Tubes stock overvalued right now?
Scoda Tubes (NSE:SCODATUBES) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Scoda Tubes' overall GF Score™ is 13/100 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 Scoda Tubes (NSE:SCODATUBES), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Scoda Tubes Business Description

Other Exchanges 544411:India
Address Mehsana highway, Survey No. 2442, 2443, 2446, Rajpur, Mehsana, Ahmedabad, GJ, IND, 382715
Scoda Tubes Ltd is a manufacturer of stainless-steel tubes and pipes. The company's product includes Stainless Steel Seamless Pipes, Stainless Steel Seamless Tube, Stainless Steel Instrumentation Tubes, Stainless Steel Welded Pipes, Stainless Steel Welded Tubes, and Stainless Steel Welded 'U' Tubes. Geographically, the company generates the majority of its revenue within India.
13GF Score

Get the complete analysis for NSE:SCODATUBES

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

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