Vedanta Power (NSE:VEDPOWER) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


NSE:VEDPOWER Vedanta Power Ltd NSE:VEDPOWER
5 GF Score
Price ₹44.07
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What is Vedanta Power Beneish M-Score?

Vedanta Power NSE:VEDPOWER +2.30% 5 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates NSE:VEDPOWER with a GF Score™ of 5/100. Among 390 Utilities - Independent Power Producers companies, Vedanta Power ranks worse than 256410% 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 Vedanta Power's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Vedanta Power was 0.00. The lowest was 0.00. And the median was 0.00.

Vedanta Power Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vedanta Power'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.

Vedanta Power Beneish M-Score Chart

Vedanta Power Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00 0.00

Vedanta Power Quarterly Data
Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00

NSE:VEDPOWER vs : Beneish M-Score Comparison

For the Utilities - Independent Power Producers subindustry, Vedanta Power'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.

Vedanta Power Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Vedanta Power's Beneish M-Score distribution charts can be found below:

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


NSE:VEDPOWER
5GF Score
Vedanta Power Ltd NSE:VEDPOWER
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Vedanta Power 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 Vedanta Power 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 * 0.7931+0.528 * 0.8885+0.404 * 0.7082+0.892 * 1.4767+0.115 * 1.05
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.09407-0.327 * 1.0916
=-2.89

* 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 ₹12,250 Mil.
Revenue was ₹88,910 Mil.
Gross Profit was ₹25,080 Mil.
Total Current Assets was ₹29,820 Mil.
Total Assets was ₹238,200 Mil.
Property, Plant and Equipment(Net PPE) was ₹175,840 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4,449 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹34,500 Mil.
Long-Term Debt & Capital Lease Obligation was ₹70,950 Mil.
Net Income was ₹-16,850 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹5,558 Mil.
 Total Receivables was ₹10,460 Mil.
Revenue was ₹60,210 Mil.
Gross Profit was ₹15,090 Mil.
Total Current Assets was ₹20,470 Mil.
Total Assets was ₹231,260 Mil.
Property, Plant and Equipment(Net PPE) was ₹166,180 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4,420 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹29,050 Mil.
Long-Term Debt & Capital Lease Obligation was ₹64,740 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)
=(12250 / 88910) / (10460 / 60210)
=0.13778 / 0.173725
=0.7931

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)
=(15090 / 60210) / (25080 / 88910)
=0.250623 / 0.282083
=0.8885

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 - (29820 + 175840) / 238200) / (1 - (20470 + 166180) / 231260)
=0.136608 / 0.1929
=0.7082

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
=88910 / 60210
=1.4767

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))
=(4419.9 / (4419.9 + 166180)) / (4448.5 / (4448.5 + 175840))
=0.025908 / 0.024674
=1.05

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 / 88910) / (0 / 60210)
=0 / 0
=1

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)
=((70950 + 34500) / 238200) / ((64740 + 29050) / 231260)
=0.442695 / 0.405561
=1.0916

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
=(-16850 - 0 - 5557.5) / 238200
=-0.09407

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.

Vedanta Power has a M-score of -2.89 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 0.00 mean?
Vedanta Power (NSE:VEDPOWER) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vedanta Power and its competitors. According to the industry distribution chart, Vedanta Power ranks #999999 out of 390 companies in the Utilities - Independent Power Producers industry.
Is Vedanta Power's Beneish M-Score too high?
Vedanta Power's current Beneish M-Score is 0.00. Based on the distribution chart, Vedanta Power ranks #999999 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Vedanta Power has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does Vedanta Power's Beneish M-Score compare to ?
According to the Utilities - Independent Power Producers industry distribution chart, Vedanta Power ranks #999999 out of 390 companies for Beneish M-Score. This places Vedanta Power 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Vedanta Power and its competitors. Vedanta Power'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 Vedanta Power stock overvalued right now?
Vedanta Power (NSE:VEDPOWER) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Vedanta Power's overall GF Score™ is 5/100. 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 Vedanta Power (NSE:VEDPOWER), the current Beneish M-Score is 0.00 as of Jun. 24, 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.

Vedanta Power Business Description

Comparable Companies
Other Exchanges 544781:India
Address Corporate Avenue, Atul Projects, 1st Floor, C wing, Unit 103, Chakala, Andheri East, Mumbai, MH, IND, 400093
Vedanta Power Ltd is a power producer delivering reliable and affordable power that lights homes, touches lives, and drives transformation across the nation. Its businesses include Talwandi Sabo Thermal Plant, Meenakshi Energy Limited, Sakti Thermal Plant, and Jharsuguda Thermal Plant.
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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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