Striders Impex (NSE:STRIDERS) Beneish M-Score: -1.28 (As of Jul. 28, 2026)

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NSE:STRIDERS Striders Impex Ltd NSE:STRIDERS
20 GF Score
Price ₹67.45
! 3 Warning Signs
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What is Striders Impex Beneish M-Score?

Striders Impex NSE:STRIDERS +3.85% 20 Beneish M-Score is -1.28 as of Jul. 28, 2026. GuruFocus rates NSE:STRIDERS with a GF Score™ of 20/100. The stock has 3 warning signs investors should review. Among 1,086 Retail - Cyclical companies, Striders Impex ranks worse than 88.21% 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 -1.28 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:STRIDERS' s Beneish M-Score Range Over the Past 10 Years
Min: -1.28   Med: -0.28   Max: 0.73
Current: -1.28

During the past 4 years, the highest Beneish M-Score of Striders Impex was 0.73. The lowest was -1.28. And the median was -0.28.

Striders Impex Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Striders Impex'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.

Striders Impex Beneish M-Score Chart

Striders Impex Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.73 -1.28

Striders Impex Semi-Annual Data
Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.73 -1.28

NSE:STRIDERS vs CASY, WSM, ULTA: Beneish M-Score Comparison

For the Specialty Retail subindustry, Striders Impex'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.

Striders Impex Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Striders Impex's Beneish M-Score distribution charts can be found below:

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


NSE:STRIDERS
20GF Score
Striders Impex Ltd NSE:STRIDERS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Striders Impex 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 Striders Impex 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 * 1.1793+0.528 * 0.923+0.404 * 0.6084+0.892 * 1.2155+0.115 * 1.2926
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9162+4.679 * 0.18467-0.327 * 0.5907
=-1.28

* 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 ₹333.2 Mil.
Revenue was ₹752.0 Mil.
Gross Profit was ₹234.3 Mil.
Total Current Assets was ₹838.7 Mil.
Total Assets was ₹920.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹14.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹26.1 Mil.
Total Current Liabilities was ₹376.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹5.6 Mil.
Net Income was ₹56.1 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-113.9 Mil.
 Total Receivables was ₹232.5 Mil.
Revenue was ₹618.7 Mil.
Gross Profit was ₹177.9 Mil.
Total Current Assets was ₹438.6 Mil.
Total Assets was ₹507.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹8.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹23.4 Mil.
Total Current Liabilities was ₹350.2 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6.1 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)
=(333.213 / 751.969) / (232.457 / 618.651)
=0.443121 / 0.375748
=1.1793

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)
=(177.882 / 618.651) / (234.254 / 751.969)
=0.287532 / 0.311521
=0.923

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 - (838.698 + 14.855) / 920.474) / (1 - (438.57 + 8.107) / 507.3)
=0.072703 / 0.119501
=0.6084

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
=751.969 / 618.651
=1.2155

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))
=(3.193 / (3.193 + 8.107)) / (4.156 / (4.156 + 14.855))
=0.282566 / 0.21861
=1.2926

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)
=(26.1 / 751.969) / (23.436 / 618.651)
=0.034709 / 0.037882
=0.9162

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)
=((5.599 + 376.324) / 920.474) / ((6.149 + 350.194) / 507.3)
=0.41492 / 0.702431
=0.5907

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
=(56.095 - 0 - -113.889) / 920.474
=0.18467

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.

Striders Impex has a M-score of -1.28 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 -1.28 mean?
Striders Impex (NSE:STRIDERS) has a Beneish M-Score of -1.28 as of Jul. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Striders Impex and its competitors. According to the industry distribution chart, Striders Impex ranks #958 out of 1086 companies in the Retail - Cyclical industry, placing it in the top 88.2%.
Is Striders Impex's Beneish M-Score too high?
Striders Impex's current Beneish M-Score is -1.28. Based on the distribution chart, Striders Impex ranks #958 out of 1086 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Striders Impex has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Striders Impex's Beneish M-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Striders Impex ranks #958 out of 1086 companies for Beneish M-Score. This places Striders Impex 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Striders Impex and its competitors. Striders Impex's current Beneish M-Score is -1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Striders Impex stock overvalued right now?
Striders Impex (NSE:STRIDERS) has a current Beneish M-Score of -1.28. The current Beneish M-Score is -1.28. Striders Impex's overall GF Score™ is 20/100 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 Striders Impex (NSE:STRIDERS), the current Beneish M-Score is -1.28 as of Jul. 28, 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.

Striders Impex Business Description

Address Sikova Industrial Marg, LBS Marg, 14th Floor, Office No. 1406 & 1407 Ajmera Sikova, Opposite Damodar Park, Near Ashok Mill, Ghatkopar West, Mumbai, MH, IND, 400086
Striders Impex Ltd is engaged in the business of licensing, own brand development, and distribution of toys and kids' consumer merchandise. The company offers solutions from product design and development to sourcing, manufacturing and distribution, catering to retail formats across India and select international markets. Its portfolio includes both licensed merchandise and proprietary brands in segments such as novelties, plush and interactive plush, stationery, activity sets, children's accessories, school bags, water bottles, and lunch boxes. The majority of the company's revenue is derived from the sale of its products in India.
20GF 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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