Tarapur Transformers (NSE:TARAPUR) Beneish M-Score: 0.00 (As of Jul. 01, 2026)


NSE:TARAPUR Tarapur Transformers Ltd NSE:TARAPUR
18 GF Score
Price ₹17.96
! 1 Warning Sign
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What is Tarapur Transformers Beneish M-Score?

Tarapur Transformers NSE:TARAPUR -0.88% 18 Beneish M-Score is 0.00 as of Jul. 01, 2026. GuruFocus rates NSE:TARAPUR with a GF Score™ of 18/100. The stock has 1 warning sign investors should review. Among 2,918 Industrial Products companies, Tarapur Transformers ranks worse than 34270.01% 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 Tarapur Transformers's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Tarapur Transformers was -2.09. The lowest was -6.34. And the median was -3.38.

Tarapur Transformers Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tarapur Transformers'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.

Tarapur Transformers Beneish M-Score Chart

Tarapur Transformers Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.14 -5.51 0.00 0.00 0.00

Tarapur Transformers Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

NSE:TARAPUR vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Tarapur Transformers'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.

Tarapur Transformers Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Tarapur Transformers's Beneish M-Score distribution charts can be found below:

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


NSE:TARAPUR
18GF Score
Tarapur Transformers Ltd NSE:TARAPUR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Tarapur Transformers 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 Tarapur Transformers 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 ₹0.00 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹0.00 Mil.
Total Current Assets was ₹73.17 Mil.
Total Assets was ₹116.36 Mil.
Property, Plant and Equipment(Net PPE) was ₹37.52 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.01 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹128.63 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹-18.47 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹20.05 Mil.
 Total Receivables was ₹54.33 Mil.
Revenue was ₹0.00 Mil.
Gross Profit was ₹0.00 Mil.
Total Current Assets was ₹72.52 Mil.
Total Assets was ₹119.55 Mil.
Property, Plant and Equipment(Net PPE) was ₹41.41 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹7.33 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.75 Mil.
Total Current Liabilities was ₹113.15 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 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)
=(0 / 0) / (54.334 / 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)
=(0 / 0) / (0 / 0)
= /
=

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 - (73.165 + 37.522) / 116.356) / (1 - (72.517 + 41.407) / 119.545)
=0.048721 / 0.04702
=

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
=0 / 0
=

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))
=(7.325 / (7.325 + 41.407)) / (4.012 / (4.012 + 37.522))
=0.150312 / 0.096596
=

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 / 0) / (1.754 / 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)
=((0 + 128.631) / 116.356) / ((0 + 113.152) / 119.545)
=1.105495 / 0.946522
=

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
=(-18.465 - 0 - 20.053) / 116.356
=-0.331036

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?
Tarapur Transformers (NSE:TARAPUR) has a Beneish M-Score of 0.00 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tarapur Transformers and its competitors. According to the industry distribution chart, Tarapur Transformers ranks #999999 out of 2918 companies in the Industrial Products industry.
Is Tarapur Transformers' Beneish M-Score too high?
Tarapur Transformers' current Beneish M-Score is 0.00. Based on the distribution chart, Tarapur Transformers ranks #999999 out of 2918 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Tarapur Transformers has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Tarapur Transformers' Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Tarapur Transformers ranks #999999 out of 2918 companies for Beneish M-Score. This places Tarapur Transformers 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Tarapur Transformers and its competitors. Tarapur Transformers'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 Tarapur Transformers stock overvalued right now?
Tarapur Transformers (NSE:TARAPUR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Tarapur Transformers' overall GF Score™ is 18/100 with 1 warning sign 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 Tarapur Transformers (NSE:TARAPUR), the current Beneish M-Score is 0.00 as of Jul. 01, 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.

Tarapur Transformers Business Description

Other Exchanges 533203:India
Address Ekta Nagar, S-112, 1st Floor, Rajiv Gandhi Commercial Complex, Kandivali (West), Mumbai, MH, IND, 400067
Tarapur Transformers Ltd deals in the business of manufacturing, repair, refurbishment, and upliftment of transformers. It has manufacturing and testing facilities at Boisar, Wada, and Vadodara, Gujarat, which is considered the hub of the transformer industry. The products of the company are Power Transformers, Distribution Transformers, Instrument Transformers, and repairs.
18GF Score

Get the complete analysis for NSE:TARAPUR

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

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