Supreme Engineering (NSE:SUPREMEENG) Beneish M-Score: -20.56 (As of Jun. 30, 2026)


NSE:SUPREMEENG Supreme Engineering Ltd NSE:SUPREMEENG
40 GF Score
Price ₹1.40
GF Value ₹2.12
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Supreme Engineering Beneish M-Score?

Supreme Engineering NSE:SUPREMEENG +1.45% 40 Beneish M-Score is -20.56 as of Jun. 30, 2026. GuruFocus rates NSE:SUPREMEENG with a GF Score™ of 40/100 and a GF Value™ of ₹2.12 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 588 Steel companies, Supreme Engineering ranks better than 99.49% 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 -20.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:SUPREMEENG' s Beneish M-Score Range Over the Past 10 Years
Min: -20.56   Med: -2.58   Max: -1.79
Current: -20.56

During the past 11 years, the highest Beneish M-Score of Supreme Engineering was -1.79. The lowest was -20.56. And the median was -2.58.

Supreme Engineering Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Supreme Engineering'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.

Supreme Engineering Beneish M-Score Chart

Supreme Engineering Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar24 Mar25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.79 -2.20 -2.63 -9.65 -20.56

Supreme Engineering Semi-Annual Data
Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar24 Mar25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only -1.79 -2.20 -2.63 -9.65 -20.56

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

For the Steel subindustry, Supreme Engineering'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.

Supreme Engineering Beneish M-Score vs Steel Industry

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

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


NSE:SUPREMEENG
40GF Score
Supreme Engineering Ltd NSE:SUPREMEENG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Supreme Engineering 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 Supreme Engineering 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 * -16.0723+0.528 * 1.1361+0.404 * 0.6738+0.892 * 0.67+0.115 * 1.2048
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3019+4.679 * -0.411538-0.327 * 1.2037
=-20.56

* 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 ₹6.2 Mil.
Revenue was ₹168.2 Mil.
Gross Profit was ₹-5.2 Mil.
Total Current Assets was ₹115.7 Mil.
Total Assets was ₹296.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹162.2 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹17.7 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4.9 Mil.
Total Current Liabilities was ₹997.5 Mil.
Long-Term Debt & Capital Lease Obligation was ₹154.6 Mil.
Net Income was ₹-118.1 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹4.0 Mil.
 Total Receivables was ₹-0.6 Mil.
Revenue was ₹251.0 Mil.
Gross Profit was ₹-8.9 Mil.
Total Current Assets was ₹147.5 Mil.
Total Assets was ₹331.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹153.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹20.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹5.6 Mil.
Total Current Liabilities was ₹958.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹112.4 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)
=(6.247 / 168.188) / (-0.58 / 251.015)
=0.037143 / -0.002311
=-16.0723

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)
=(-8.887 / 251.015) / (-5.241 / 168.188)
=-0.035404 / -0.031162
=1.1361

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 - (115.699 + 162.232) / 296.665) / (1 - (147.482 + 153.313) / 331.903)
=0.063149 / 0.093726
=0.6738

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
=168.188 / 251.015
=0.67

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))
=(20.641 / (20.641 + 153.313)) / (17.724 / (17.724 + 162.232))
=0.118658 / 0.098491
=1.2048

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)
=(4.893 / 168.188) / (5.609 / 251.015)
=0.029092 / 0.022345
=1.3019

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)
=((154.567 + 997.49) / 296.665) / ((112.44 + 958.331) / 331.903)
=3.88336 / 3.226156
=1.2037

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
=(-118.099 - 0 - 3.99) / 296.665
=-0.411538

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.

Supreme Engineering has a M-score of -20.56 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 -20.56 mean?
Supreme Engineering (NSE:SUPREMEENG) has a Beneish M-Score of -20.56 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Supreme Engineering and its competitors. According to the industry distribution chart, Supreme Engineering ranks #3 out of 588 companies in the Steel industry, placing it in the top 0.5%.
Is Supreme Engineering's Beneish M-Score too high?
Supreme Engineering's current Beneish M-Score is -20.56. Based on the distribution chart, Supreme Engineering ranks #3 out of 588 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Supreme Engineering has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Supreme Engineering's Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Supreme Engineering ranks #3 out of 588 companies for Beneish M-Score. This places Supreme Engineering in the top 1% 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 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 Supreme Engineering and its competitors. Supreme Engineering's current Beneish M-Score is -20.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Supreme Engineering stock overvalued right now?
Based on GuruFocus' analysis, Supreme Engineering (NSE:SUPREMEENG) is currently considered Possible Value Trap. The stock's GF Value™ is ₹2.12, compared to a current price of ₹1.40 — trading 34% below its estimated fair value. The current Beneish M-Score is -20.56. Supreme Engineering's overall GF Score™ is 40/100 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 Supreme Engineering (NSE:SUPREMEENG), the current Beneish M-Score is -20.56 as of Jun. 30, 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 Supreme Engineering (NSE:SUPREMEENG) Overvalued in 2026?

Based on GuruFocus' analysis, Supreme Engineering stock appears to be undervalued. The current stock price of ₹1.40 is trading 34% below its estimated GF Value™ of ₹2.12. GuruFocus considers Supreme Engineering to be Possible Value Trap.

Key valuation signals for NSE:SUPREMEENG:

  • Beneish M-Score: -20.56
  • GF Value™: ₹2.12 vs. price of ₹1.40 (34% below fair value)
  • GF Score™: 40/100 with 3 warning signs

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

Supreme Engineering Business Description

Address Thane-Belapur Road, R-223, MIDC Complex, Rabale, Navi Mumbai, MH, IND, 400701
Supreme Engineering Ltd is engaged in manufacturing special alloys and special wire products. Through its two manufacturing units, it manufactures diversified products such as superalloys, precipitation hardening steels, martensitic stainless steel, austenitic stainless steel, ultra high strength steel and high-speed steels which are used in sectors such as aerospace, space, defence, nuclear power, thermal power, oil and gas, and heavy engineering. While the Wire division manufactures wires, bright bars, fine wires and profiles used for automotive, oil and gas, industrial machinery and hand tools industries.
40GF Score

Get the complete analysis for NSE:SUPREMEENG

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

₹1.40
Price
₹2.12
GF Value