Mahip Industries (BOM:542503) Piotroski F-Score: 6 (As of Aug. 02, 2026) — 50% Above Median

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BOM:542503 Mahip Industries Ltd BOM:542503
24 GF Score
Price ₹18.40
! 3 Warning Signs
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What is Mahip Industries Piotroski F-Score?

Mahip Industries BOM:542503 -0.16% 24 Piotroski F-Score is 6 as of Aug. 02, 2026, which is 50% above its 10-year median of 4.00. GuruFocus rates BOM:542503 with a GF Score™ of 24/100. The stock has 3 warning signs investors should review. Among 388 Packaging & Containers companies, Mahip Industries ranks better than 76.29% on this metric.

The zones of discrimination were as such:

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

Mahip Industries has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

BOM:542503' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 4   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Mahip Industries was 8. The lowest was 3. And the median was 4.

Mahip Industries  (BOM:542503) 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.


Mahip Industries Piotroski F-Score Related Terms


Mahip Industries Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Mahip Industries'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.

Mahip Industries Piotroski F-Score Chart

Mahip Industries 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 3.00 5.00 4.00 4.00 6.00

Mahip Industries Semi-Annual Data
Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 4.00 0.00 4.00 0.00 6.00

BOM:542503 vs SW, PKG, IP: Piotroski F-Score Comparison

For the Packaging & Containers subindustry, Mahip Industries'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.


Mahip Industries Piotroski F-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Mahip Industries's Piotroski F-Score distribution charts can be found below:

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


BOM:542503
24GF Score
Mahip Industries Ltd BOM:542503
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 ₹28.03 Mil.
Cash Flow from Operations was ₹-8.84 Mil.
Revenue was ₹91.05 Mil.
Gross Profit was ₹30.20 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (90.908 + 104.72) / 2 = ₹97.814 Mil.
Total Assets at the begining of this year (Mar25) was ₹90.91 Mil.
Long-Term Debt & Capital Lease Obligation was ₹70.62 Mil.
Total Current Assets was ₹77.32 Mil.
Total Current Liabilities was ₹44.94 Mil.
Net Income was ₹0.81 Mil.

Revenue was ₹62.28 Mil.
Gross Profit was ₹5.65 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (193.745 + 90.908) / 2 = ₹142.3265 Mil.
Total Assets at the begining of last year (Mar24) was ₹193.75 Mil.
Long-Term Debt & Capital Lease Obligation was ₹70.40 Mil.
Total Current Assets was ₹62.00 Mil.
Total Current Liabilities was ₹74.30 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.

Mahip Industries's current Net Income (TTM) was 28.03. ==> 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.

Mahip Industries's current Cash Flow from Operations (TTM) was -8.84. ==> Negative ==> Score 0.

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)
=28.031/90.908
=0.3083447

ROA (Last Year)=Net Income/Total Assets (Mar24)
=0.81/193.745
=0.00418075

Mahip Industries's return on assets of this year was 0.3083447. Mahip Industries's return on assets of last year was 0.00418075. ==> 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.

Mahip Industries's current Net Income (TTM) was 28.03. Mahip Industries's current Cash Flow from Operations (TTM) was -8.84. ==> -8.84 <= 28.03 ==> CFROA <= ROA ==> Score 0.

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
=70.62/97.814
=0.72198254

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=70.403/142.3265
=0.49465841

Mahip Industries's gearing of this year was 0.72198254. Mahip Industries's gearing of last year was 0.49465841. ==> Last year is lower than this year ==> Score 0.

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
=77.32/44.943
=1.7204014

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=61.997/74.302
=0.83439208

Mahip Industries's current ratio of this year was 1.7204014. Mahip Industries's current ratio of last year was 0.83439208. ==> This year's current ratio is higher. ==> Score 1.

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.

Mahip Industries's number of shares in issue this year was 19.24. Mahip Industries's number of shares in issue last year was 19.24. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

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
=30.201/91.047
=0.3317078

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=5.648/62.281
=0.09068576

Mahip Industries's gross margin of this year was 0.3317078. Mahip Industries's gross margin of last year was 0.09068576. ==> 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)
=91.047/90.908
=1.00152902

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=62.281/193.745
=0.32145862

Mahip Industries's asset turnover of this year was 1.00152902. Mahip Industries's asset turnover of last year was 0.32145862. ==> 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+0+1+0+0+1+1+1+1
=6

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

Mahip Industries has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 6 mean?
Mahip Industries (BOM:542503) has a Piotroski F-Score of 6 as of Aug. 02, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Mahip Industries and its competitors. This is 50% above median its historical median of 4.00. Over the past decade, Mahip Industries' Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, Mahip Industries ranks #92 out of 388 companies in the Packaging & Containers industry, placing it in the top 23.7%.
Is Mahip Industries' Piotroski F-Score too high?
Mahip Industries' current Piotroski F-Score of 6 is 50% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Packaging & Containers industry median Piotroski F-Score is 5.00. Mahip Industries' value of 6 is 20% above this industry median. Based on the distribution chart, Mahip Industries ranks #92 out of 388 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers. Overall, Mahip Industries has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Mahip Industries' Piotroski F-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Mahip Industries ranks #92 out of 388 companies for Piotroski F-Score. This places Mahip Industries in the top 24% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Mahip Industries' value of 6 is 20% above this benchmark. Historically, Mahip Industries' own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, Mahip Industries 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 Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 388 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. Mahip Industries's current Piotroski F-Score of 6 is 20% 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 Mahip Industries and its competitors. For the Packaging & Containers 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. Mahip Industries's current Piotroski F-Score is 6, which is 50% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahip Industries stock overvalued right now?
Mahip Industries (BOM:542503) has a current Piotroski F-Score of 6. The current Piotroski F-Score is 6, which is 50% above median its 10-year median of 4.00 and 20% above the Packaging & Containers industry median of 5.00. Mahip Industries' overall GF Score™ is 24/100 with 3 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 Mahip Industries (BOM:542503), the current Piotroski F-Score is 6 as of Aug. 02, 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.

Mahip Industries Business Description

Address Dholka Bagodara Highway, Survey No.127, Jalalpur - Godhneshwar, Ahmedabad, Gujrat, IND, 387810
Mahip Industries Ltd is a manufacturer and trader of corrugated boxes. The company offers corrugated boxes for milk and biscuits, drugs and medicines, processed and semi-processed foods, edible oils, fruits and vegetables, and electronic goods.
24GF Score

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

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