Rural Microfinance Development Centre (XNEP:RMDC) Beneish M-Score: 0.00 (As of Jul. 13, 2026)

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XNEP:RMDC Rural Microfinance Development Centre Ltd XNEP:RMDC
16 GF Score
Price NPR775.00
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What is Rural Microfinance Development Centre Beneish M-Score?

Rural Microfinance Development Centre XNEP:RMDC 16 Beneish M-Score is 0.00 as of Jul. 13, 2026. GuruFocus rates XNEP:RMDC with a GF Score™ of 16/100.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 Rural Microfinance Development Centre's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Rural Microfinance Development Centre was 0.00. The lowest was 0.00. And the median was 0.00.

XNEP:RMDC
16GF Score
Rural Microfinance Development Centre Ltd XNEP:RMDC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Rural Microfinance Development Centre 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 Rural Microfinance Development Centre 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+0.528 * 1+0.404 * 0.9839+0.892 * 1.4094+0.115 * 13.3485
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2193+4.679 * 0.039964-0.327 * 0.9622
=-0.54

* 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 (Jul22) TTM:Last Year (Jul21) TTM:
Total Receivables was NPR0.0 Mil.
Revenue was NPR629.2 Mil.
Gross Profit was NPR629.2 Mil.
Total Current Assets was NPR0.0 Mil.
Total Assets was NPR12,197.4 Mil.
Property, Plant and Equipment(Net PPE) was NPR199.1 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR3.5 Mil.
Selling, General, & Admin. Expense(SGA) was NPR7.4 Mil.
Total Current Liabilities was NPR0.0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR8,763.5 Mil.
Net Income was NPR347.1 Mil.
Gross Profit was NPR0.0 Mil.
Cash Flow from Operations was NPR-140.4 Mil.
 Total Receivables was NPR0.0 Mil.
Revenue was NPR446.4 Mil.
Gross Profit was NPR446.4 Mil.
Total Current Assets was NPR0.0 Mil.
Total Assets was NPR12,551.7 Mil.
Property, Plant and Equipment(Net PPE) was NPR3.1 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR0.9 Mil.
Selling, General, & Admin. Expense(SGA) was NPR4.3 Mil.
Total Current Liabilities was NPR0.0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR9,372.3 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 / 629.171) / (0 / 446.419)
=0 / 0
=1

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)
=(446.419 / 446.419) / (629.171 / 629.171)
=1 / 1
=1

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 - (0 + 199.065) / 12197.449) / (1 - (0 + 3.134) / 12551.66)
=0.98368 / 0.99975
=0.9839

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
=629.171 / 446.419
=1.4094

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))
=(0.933 / (0.933 + 3.134)) / (3.481 / (3.481 + 199.065))
=0.229407 / 0.017186
=13.3485

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)
=(7.403 / 629.171) / (4.308 / 446.419)
=0.011766 / 0.00965
=1.2193

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)
=((8763.478 + 0) / 12197.449) / ((9372.339 + 0) / 12551.66)
=0.718468 / 0.746701
=0.9622

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
=(347.086 - 0 - -140.376) / 12197.449
=0.039964

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.

Rural Microfinance Development Centre has a M-score of -0.54 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?
Rural Microfinance Development Centre (XNEP:RMDC) has a Beneish M-Score of 0.00 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rural Microfinance Development Centre and its competitors.
Is Rural Microfinance Development Centre's Beneish M-Score too high?
Rural Microfinance Development Centre's current Beneish M-Score is 0.00. Overall, Rural Microfinance Development Centre has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Rural Microfinance Development Centre's Beneish M-Score compare to V and MA?
Rural Microfinance Development Centre's Beneish M-Score of 0.00 can be compared against companies in the Credit Services 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Rural Microfinance Development Centre and its competitors. Rural Microfinance Development Centre'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 Rural Microfinance Development Centre stock overvalued right now?
Rural Microfinance Development Centre (XNEP:RMDC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Rural Microfinance Development Centre's overall GF Score™ is 16/100. 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 Rural Microfinance Development Centre (XNEP:RMDC), the current Beneish M-Score is 0.00 as of Jul. 13, 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.

Rural Microfinance Development Centre Business Description

Address Putalisadak, P.O.Box: 20789, Kathmandu, NPL
Rural Microfinance Development Centre Ltd offers wholesale lending to microfinance institutions. Besides, it has been extending institutional capacity building supports to microfinance institutions. The company's completed projects include Rural Microfinance Project and Community Livestock Development Project (CLDP). Its ongoing include Community Irrigation Project and YUWAccess Project.
16GF Score

Get the complete analysis for XNEP:RMDC

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

NPR775.00
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