Shivansh Finserve (BOM:539593) Piotroski F-Score: 7 (As of Jul. 09, 2026) — 40% Above Median


BOM:539593 Shivansh Finserve Ltd BOM:539593
26 GF Score
Price ₹9.17
! 4 Warning Signs
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What is Shivansh Finserve Piotroski F-Score?

Shivansh Finserve BOM:539593 -4.08% 26 Piotroski F-Score is 7 as of Jul. 09, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates BOM:539593 with a GF Score™ of 26/100. The stock has 4 warning signs investors should review. Among 1,910 Consumer Packaged Goods companies, Shivansh Finserve ranks better than 88.32% on this metric.

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Shivansh Finserve has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Shivansh Finserve's Piotroski F-Score or its related term are showing as below:

BOM:539593' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 7

During the past 12 years, the highest Piotroski F-Score of Shivansh Finserve was 7. The lowest was 2. And the median was 5.

Shivansh Finserve  (BOM:539593) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Shivansh Finserve Piotroski F-Score Related Terms


Shivansh Finserve Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Shivansh Finserve's Piotroski F-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.

Shivansh Finserve Piotroski F-Score Chart

Shivansh Finserve Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 6.00 3.00 2.00 7.00

Shivansh Finserve Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-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 2.00 0.00 0.00 0.00 7.00

BOM:539593 vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Shivansh Finserve's Piotroski F-Score, along with its competitors' market caps and Piotroski F-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.


Shivansh Finserve Piotroski F-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Shivansh Finserve's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Shivansh Finserve's Piotroski F-Score falls into.


BOM:539593
26GF Score
Shivansh Finserve Ltd BOM:539593
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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How is the Piotroski F-Score calculated?

* 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:
Net Income was ₹4.27 Mil.
Cash Flow from Operations was ₹103.21 Mil.
Revenue was ₹26.47 Mil.
Gross Profit was ₹8.61 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (178.642 + 179.613) / 2 = ₹179.1275 Mil.
Total Assets at the begining of this year (Mar25) was ₹178.64 Mil.
Long-Term Debt & Capital Lease Obligation was ₹30.00 Mil.
Total Current Assets was ₹175.81 Mil.
Total Current Liabilities was ₹80.53 Mil.
Net Income was ₹-1.75 Mil.

Revenue was ₹1.05 Mil.
Gross Profit was ₹0.15 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (165.745 + 178.642) / 2 = ₹172.1935 Mil.
Total Assets at the begining of last year (Mar24) was ₹165.75 Mil.
Long-Term Debt & Capital Lease Obligation was ₹78.72 Mil.
Total Current Assets was ₹174.68 Mil.
Total Current Liabilities was ₹35.11 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Shivansh Finserve's current Net Income (TTM) was 4.27. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Shivansh Finserve's current Cash Flow from Operations (TTM) was 103.21. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=4.267/178.642
=0.02388576

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-1.754/165.745
=-0.01058252

Shivansh Finserve's return on assets of this year was 0.02388576. Shivansh Finserve's return on assets of last year was -0.01058252. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Shivansh Finserve's current Net Income (TTM) was 4.27. Shivansh Finserve's current Cash Flow from Operations (TTM) was 103.21. ==> 103.21 > 4.27 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=30/179.1275
=0.16747847

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=78.718/172.1935
=0.4571485

Shivansh Finserve's gearing of this year was 0.16747847. Shivansh Finserve's gearing of last year was 0.4571485. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=175.813/80.528
=2.18325303

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=174.681/35.106
=4.9758161

Shivansh Finserve's current ratio of this year was 2.18325303. Shivansh Finserve's current ratio of last year was 4.9758161. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Shivansh Finserve's number of shares in issue this year was 6.275. Shivansh Finserve's number of shares in issue last year was 6.264. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=8.606/26.474
=0.32507366

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=0.15/1.049
=0.14299333

Shivansh Finserve's gross margin of this year was 0.32507366. Shivansh Finserve's gross margin of last year was 0.14299333. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=26.474/178.642
=0.14819583

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1.049/165.745
=0.006329

Shivansh Finserve's asset turnover of this year was 0.14819583. Shivansh Finserve's asset turnover of last year was 0.006329. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Shivansh Finserve has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Shivansh Finserve (BOM:539593) has a Piotroski F-Score of 7 as of Jul. 09, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shivansh Finserve and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Shivansh Finserve's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Shivansh Finserve ranks #223 out of 1910 companies in the Consumer Packaged Goods industry, placing it in the top 11.7%.
Is Shivansh Finserve's Piotroski F-Score too high?
Shivansh Finserve's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Shivansh Finserve's value of 7 is 40% above this industry median. Based on the distribution chart, Shivansh Finserve ranks #223 out of 1910 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Shivansh Finserve has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Shivansh Finserve's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Shivansh Finserve ranks #223 out of 1910 companies for Piotroski F-Score. This places Shivansh Finserve in the top 12% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Shivansh Finserve's value of 7 is 40% above this benchmark. Historically, Shivansh Finserve's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Shivansh Finserve has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,910 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Shivansh Finserve's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shivansh Finserve and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shivansh Finserve's current Piotroski F-Score is 7, which is 40% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shivansh Finserve stock overvalued right now?
Shivansh Finserve (BOM:539593) has a current Piotroski F-Score of 7. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Consumer Packaged Goods industry median of 5.00. Shivansh Finserve's overall GF Score™ is 26/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Shivansh Finserve (BOM:539593), the current Piotroski F-Score is 7 as of Jul. 09, 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.

Shivansh Finserve Business Description

Address Ashram Road, 22, First Floor, Harsidhh Complex, Opposite Kalupur Commercial Bank, Income Tax, Ahmedabad, GJ, IND, 380014
Shivansh Finserve Ltd is an India-based company. It is engaged in the wholesale trading of raw milk and dairy product. The company is also engaged in other financial advisers services.
26GF Score

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