Virtual Galaxy Infotech (NSE:VGINFOTECH) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


NSE:VGINFOTECH Virtual Galaxy Infotech Ltd NSE:VGINFOTECH
18 GF Score
Price ₹144.40
! 3 Warning Signs
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What is Virtual Galaxy Infotech Beneish M-Score?

Virtual Galaxy Infotech NSE:VGINFOTECH -0.96% 18 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates NSE:VGINFOTECH with a GF Score™ of 18/100. The stock has 3 warning signs investors should review. Among 2,632 Software companies, Virtual Galaxy Infotech ranks worse than 37993.88% 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 Virtual Galaxy Infotech's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Virtual Galaxy Infotech was -2.16. The lowest was -2.94. And the median was -2.55.

Virtual Galaxy Infotech Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Virtual Galaxy Infotech'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.

Virtual Galaxy Infotech Beneish M-Score Chart

Virtual Galaxy Infotech Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -2.94 -2.16 0.00

Virtual Galaxy Infotech Quarterly Data
Mar22 Mar23 Mar24 Sep24 Dec24 Mar25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.16 0.00 0.00

NSE:VGINFOTECH vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Virtual Galaxy Infotech'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.

Virtual Galaxy Infotech Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Virtual Galaxy Infotech's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Virtual Galaxy Infotech's Beneish M-Score falls into.


NSE:VGINFOTECH
18GF Score
Virtual Galaxy Infotech Ltd NSE:VGINFOTECH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Virtual Galaxy Infotech 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 Virtual Galaxy Infotech 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 ₹536.0 Mil.
Revenue was ₹1,820.6 Mil.
Gross Profit was ₹987.4 Mil.
Total Current Assets was ₹906.8 Mil.
Total Assets was ₹2,991.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,516.4 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹180.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹417.7 Mil.
Long-Term Debt & Capital Lease Obligation was ₹359.3 Mil.
Net Income was ₹460.9 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹493.6 Mil.
 Total Receivables was ₹0.0 Mil.
Revenue was ₹1,201.4 Mil.
Gross Profit was ₹632.1 Mil.
Total Current Assets was ₹0.0 Mil.
Total Assets was ₹0.0 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹76.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 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)
=(536.018 / 1820.564) / (0 / 1201.435)
=0.294424 / 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)
=(632.054 / 1201.435) / (987.375 / 1820.564)
=0.526083 / 0.542346
=

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 - (906.804 + 1516.379) / 2991.368) / (1 - (0 + 0) / 0)
=0.189942 /
=

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
=1820.564 / 1201.435
=

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))
=(76.478 / (76.478 + 0)) / (180.361 / (180.361 + 1516.379))
=1 / 0.106299
=

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 / 1820.564) / (0 / 1201.435)
=0 / 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)
=((359.261 + 417.65) / 2991.368) / ((0 + 0) / 0)
=0.259718 /
=

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
=(460.93 - 0 - 493.588) / 2991.368
=-0.010917

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?
Virtual Galaxy Infotech (NSE:VGINFOTECH) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Virtual Galaxy Infotech and its competitors. According to the industry distribution chart, Virtual Galaxy Infotech ranks #999999 out of 2632 companies in the Software industry.
Is Virtual Galaxy Infotech's Beneish M-Score too high?
Virtual Galaxy Infotech's current Beneish M-Score is 0.00. Based on the distribution chart, Virtual Galaxy Infotech ranks #999999 out of 2632 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Virtual Galaxy Infotech has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Virtual Galaxy Infotech's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Virtual Galaxy Infotech ranks #999999 out of 2632 companies for Beneish M-Score. This places Virtual Galaxy Infotech 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 Software company?
A good Beneish M-Score depends on the Software 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 Virtual Galaxy Infotech and its competitors. Virtual Galaxy Infotech'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 Virtual Galaxy Infotech stock overvalued right now?
Virtual Galaxy Infotech (NSE:VGINFOTECH) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Virtual Galaxy Infotech's overall GF Score™ is 18/100 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 Virtual Galaxy Infotech (NSE:VGINFOTECH), the current Beneish M-Score is 0.00 as of Jun. 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.

Virtual Galaxy Infotech Business Description

Address Ring Road, Chhatrapati Square, 3, Central Excise Colony, Behind Mahatme Eye Bank, Nagpur, MH, IND, 440015
Virtual Galaxy Infotech Ltd is a SaaS product-focused company engaged in providing core banking software solutions, IT solutions, ERP implementation and customized software solutions development, IT services for the BFSI, ERP, and E-Governance domains. It is involved in the development, customization, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions. To provide a seamless experience to its clients, the company offers a range of essential allied services, ensuring that all software needs are met under one roof. Its wide range of offerings covers services including consultation, architecture, solution design, implementation, monitoring and managed services.
18GF 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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