Siddhi Cotspin (NSE:SIDDHICOTS) Beneish M-Score: -2.93 (As of Aug. 18, 2026)

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NSE:SIDDHICOTS Siddhi Cotspin Ltd NSE:SIDDHICOTS
20 GF Score
Price ₹28.00
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What is Siddhi Cotspin Beneish M-Score?

Siddhi Cotspin NSE:SIDDHICOTS 20 Beneish M-Score is -2.93 as of Aug. 18, 2026. GuruFocus rates NSE:SIDDHICOTS with a GF Score™ of 20/100. Among 996 Manufacturing - Apparel & Accessories companies, Siddhi Cotspin ranks better than 78.51% 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 -2.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:SIDDHICOTS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.93   Med: -2.55   Max: -0.69
Current: -2.93

During the past 5 years, the highest Beneish M-Score of Siddhi Cotspin was -0.69. The lowest was -2.93. And the median was -2.55.

Siddhi Cotspin Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Siddhi Cotspin'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.

Siddhi Cotspin Beneish M-Score Chart

Siddhi Cotspin Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -2.55 -0.69 -2.93

Siddhi Cotspin Semi-Annual Data
Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -2.55 -0.69 -2.93

Siddhi Cotspin Beneish M-Score Competitor Comparison

For the Textile Manufacturing subindustry, Siddhi Cotspin'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.

Siddhi Cotspin Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Siddhi Cotspin's Beneish M-Score distribution charts can be found below:

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


NSE:SIDDHICOTS
20GF Score
Siddhi Cotspin Ltd NSE:SIDDHICOTS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Siddhi Cotspin 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 Siddhi Cotspin 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 * 0.6989+0.528 * 1.2825+0.404 * 0.5418+0.892 * 1.2473+0.115 * 0.8771
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8455+4.679 * -0.086824-0.327 * 0.8948
=-2.93

* 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 ₹621 Mil.
Revenue was ₹7,245 Mil.
Gross Profit was ₹447 Mil.
Total Current Assets was ₹1,243 Mil.
Total Assets was ₹1,828 Mil.
Property, Plant and Equipment(Net PPE) was ₹580 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹94 Mil.
Selling, General, & Admin. Expense(SGA) was ₹34 Mil.
Total Current Liabilities was ₹768 Mil.
Long-Term Debt & Capital Lease Obligation was ₹230 Mil.
Net Income was ₹131 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹290 Mil.
 Total Receivables was ₹712 Mil.
Revenue was ₹5,809 Mil.
Gross Profit was ₹460 Mil.
Total Current Assets was ₹1,130 Mil.
Total Assets was ₹1,813 Mil.
Property, Plant and Equipment(Net PPE) was ₹672 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹93 Mil.
Selling, General, & Admin. Expense(SGA) was ₹32 Mil.
Total Current Liabilities was ₹714 Mil.
Long-Term Debt & Capital Lease Obligation was ₹391 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)
=(621.006 / 7245.445) / (712.386 / 5808.875)
=0.08571 / 0.122638
=0.6989

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)
=(459.901 / 5808.875) / (447.29 / 7245.445)
=0.079172 / 0.061734
=1.2825

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 - (1242.955 + 579.656) / 1828.304) / (1 - (1129.743 + 672.379) / 1812.538)
=0.003114 / 0.005747
=0.5418

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
=7245.445 / 5808.875
=1.2473

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))
=(93.353 / (93.353 + 672.379)) / (93.577 / (93.577 + 579.656))
=0.121913 / 0.138996
=0.8771

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)
=(33.662 / 7245.445) / (31.918 / 5808.875)
=0.004646 / 0.005495
=0.8455

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)
=((229.965 + 767.708) / 1828.304) / ((391.138 + 714.231) / 1812.538)
=0.545682 / 0.609846
=0.8948

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
=(130.841 - 0 - 289.582) / 1828.304
=-0.086824

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.

Siddhi Cotspin has a M-score of -2.93 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 -2.93 mean?
Siddhi Cotspin (NSE:SIDDHICOTS) has a Beneish M-Score of -2.93 as of Aug. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Siddhi Cotspin and its competitors. According to the industry distribution chart, Siddhi Cotspin ranks #214 out of 996 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 21.5%.
Is Siddhi Cotspin's Beneish M-Score too high?
Siddhi Cotspin's current Beneish M-Score is -2.93. Based on the distribution chart, Siddhi Cotspin ranks #214 out of 996 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Siddhi Cotspin has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Siddhi Cotspin's Beneish M-Score compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Siddhi Cotspin ranks #214 out of 996 companies for Beneish M-Score. This places Siddhi Cotspin 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Siddhi Cotspin and its competitors. Siddhi Cotspin's current Beneish M-Score is -2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Siddhi Cotspin stock overvalued right now?
Siddhi Cotspin (NSE:SIDDHICOTS) has a current Beneish M-Score of -2.93. The current Beneish M-Score is -2.93. Siddhi Cotspin's overall GF Score™ is 20/100. 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 Siddhi Cotspin (NSE:SIDDHICOTS), the current Beneish M-Score is -2.93 as of Aug. 18, 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.

Siddhi Cotspin Business Description

Address Near Gokulesh Petrol Pump, 322, 3rd Floor, Swaminarayan Plaza - 1, Narol, Ahmedabad, GJ, IND, 382405
Siddhi Cotspin Ltd is engaged in manufacturing and selling of Cotton Yarns. Its manufacturing process adheres to stringent quality standards and is backed by developed technology and machinery. The company manufactures various value added cotton yarns like Compact Carded Hosiery, Compact Combed Hosiery, Compact Carded Weaving, Compact Comb Weaving, Carded Weaving, Combed Weaving, Carded Hosiery, Combed Hosiery, Eli KW, Eli CW, Slub Yarn, Siro Slub Yarn, CSY-Lycra-Core Spin Yarn (Spandex), TFO Yarn - Double etc.
20GF Score

Get the complete analysis for NSE:SIDDHICOTS

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

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