Slone Infosystems (NSE:SLONE) Beneish M-Score: 1.39 (As of Jun. 26, 2026) — 30% Above Median


NSE:SLONE Slone Infosystems Ltd NSE:SLONE
16 GF Score
Price ₹162.00
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What is Slone Infosystems Beneish M-Score?

Slone Infosystems NSE:SLONE -9.17% 16 Beneish M-Score is 1.39 as of Jun. 26, 2026, which is 30% above its 10-year median of 1.07. GuruFocus rates NSE:SLONE with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 2,404 Hardware companies, Slone Infosystems ranks worse than 97.25% 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.

Warning Sign:

Beneish M-Score 1.39 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:SLONE' s Beneish M-Score Range Over the Past 10 Years
Min: -4.44   Med: 1.07   Max: 1.39
Current: 1.39

During the past 5 years, the highest Beneish M-Score of Slone Infosystems was 1.39. The lowest was -4.44. And the median was 1.07.

Slone Infosystems Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Slone Infosystems'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.

Slone Infosystems Beneish M-Score Chart

Slone Infosystems Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -4.44 1.07 1.39

Slone Infosystems Semi-Annual Data
Mar21 Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Beneish M-Score Get a 7-Day Free Trial 0.00 1.07 0.00 1.39 0.00

NSE:SLONE vs SNX, ARW, AVT: Beneish M-Score Comparison

For the Electronics & Computer Distribution subindustry, Slone Infosystems'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.

Slone Infosystems Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Slone Infosystems's Beneish M-Score distribution charts can be found below:

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


NSE:SLONE
16GF Score
Slone Infosystems Ltd NSE:SLONE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Slone Infosystems 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 Slone Infosystems 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 * 0.3893+0.528 * 2.5219+0.404 * 0.8141+0.892 * 3.4706+0.115 * 2.0379
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7165+4.679 * 0.275441-0.327 * 0.8742
=1.39

* 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 ₹159 Mil.
Revenue was ₹2,106 Mil.
Gross Profit was ₹174 Mil.
Total Current Assets was ₹499 Mil.
Total Assets was ₹578 Mil.
Property, Plant and Equipment(Net PPE) was ₹77 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹14 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3 Mil.
Total Current Liabilities was ₹181 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4 Mil.
Net Income was ₹74 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-85 Mil.
 Total Receivables was ₹118 Mil.
Revenue was ₹607 Mil.
Gross Profit was ₹127 Mil.
Total Current Assets was ₹188 Mil.
Total Assets was ₹209 Mil.
Property, Plant and Equipment(Net PPE) was ₹20 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹9 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1 Mil.
Total Current Liabilities was ₹60 Mil.
Long-Term Debt & Capital Lease Obligation was ₹16 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)
=(159.135 / 2106.418) / (117.766 / 606.927)
=0.075548 / 0.194037
=0.3893

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)
=(126.57 / 606.927) / (174.189 / 2106.418)
=0.208542 / 0.082694
=2.5219

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 - (499.054 + 77.207) / 577.805) / (1 - (188.047 + 19.957) / 208.689)
=0.002672 / 0.003282
=0.8141

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
=2106.418 / 606.927
=3.4706

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))
=(9.409 / (9.409 + 19.957)) / (14.403 / (14.403 + 77.207))
=0.320405 / 0.157221
=2.0379

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)
=(2.533 / 2106.418) / (1.019 / 606.927)
=0.001203 / 0.001679
=0.7165

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)
=((3.703 + 180.571) / 577.805) / ((15.702 + 60.428) / 208.689)
=0.318921 / 0.364801
=0.8742

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
=(74.073 - 0 - -85.078) / 577.805
=0.275441

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.

Slone Infosystems has a M-score of 1.39 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 1.39 mean?
Slone Infosystems (NSE:SLONE) has a Beneish M-Score of 1.39 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Slone Infosystems and its competitors. This is 30% above median its historical median of 1.07. According to the industry distribution chart, Slone Infosystems ranks #2338 out of 2404 companies in the Hardware industry, placing it in the top 97.3%.
Is Slone Infosystems' Beneish M-Score too high?
Slone Infosystems' current Beneish M-Score of 1.39 is 30% above median its 10-year median of 1.07. Based on the distribution chart, Slone Infosystems ranks #2338 out of 2404 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Slone Infosystems has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Slone Infosystems' Beneish M-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Slone Infosystems ranks #2338 out of 2404 companies for Beneish M-Score. This places Slone Infosystems 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Slone Infosystems and its competitors. Slone Infosystems's current Beneish M-Score is 1.39, which is 30% above median its own 10-year median of 1.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Slone Infosystems stock overvalued right now?
Slone Infosystems (NSE:SLONE) has a current Beneish M-Score of 1.39. The current Beneish M-Score is 1.39, which is 30% above median its 10-year median of 1.07. Slone Infosystems' overall GF Score™ is 16/100 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 Slone Infosystems (NSE:SLONE), the current Beneish M-Score is 1.39 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.

Slone Infosystems Business Description

Address 5th Road Khar West, Ground Floor, Mohini Heights CHS LTD, Behind Rajasthan Hotel, Khar Delivery, Mumbai, MH, IND, 400052
Slone Infosystems Ltd is an IT hardware solutions company based in India. The company is involved in the sale and rental of IT equipment such as laptops, desktops, servers, and workstations. Additionally, the company offers IT service solutions, including managing cloud servers and servicing IT equipment for corporate clients. The Company is engaged mainly in the business of dealing in computers and their components by way of resale trading or giving on a rental basis, which is considered to constitute one single segment.
16GF Score

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

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