Beezaasan Explotech (BOM:544369) Piotroski F-Score: 4 (As of Aug. 17, 2026) — 43% Below Median

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BOM:544369 Beezaasan Explotech Ltd BOM:544369
19 GF Score
Price ₹480.40
! 8 Warning Signs
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What is Beezaasan Explotech Piotroski F-Score?

Beezaasan Explotech BOM:544369 +2.00% 19 Piotroski F-Score is 4 as of Aug. 17, 2026, which is 43% below its 10-year median of 7.00. GuruFocus rates BOM:544369 with a GF Score™ of 19/100. The stock has 8 warning signs investors should review. Among 1,562 Chemicals companies, Beezaasan Explotech ranks worse than 65.75% 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

Beezaasan Explotech has an F-score of 4 indicating the company's financial situation is typical for a stable company.

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

BOM:544369' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 7   Max: 8
Current: 4

During the past 5 years, the highest Piotroski F-Score of Beezaasan Explotech was 8. The lowest was 4. And the median was 7.

Beezaasan Explotech  (BOM:544369) 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.


Beezaasan Explotech Piotroski F-Score Related Terms


Beezaasan Explotech Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Beezaasan Explotech'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.

Beezaasan Explotech Piotroski F-Score Chart

Beezaasan Explotech Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Piotroski F-Score
N/A N/A 7.00 8.00 4.00

Beezaasan Explotech Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Piotroski F-Score Get a 7-Day Free Trial 7.00 N/A 8.00 0.00 4.00

BOM:544369 vs LIN, SHW, ECL: Piotroski F-Score Comparison

For the Specialty Chemicals subindustry, Beezaasan Explotech'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.


Beezaasan Explotech Piotroski F-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Beezaasan Explotech's Piotroski F-Score distribution charts can be found below:

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


BOM:544369
19GF Score
Beezaasan Explotech Ltd BOM:544369
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 ₹133 Mil.
Cash Flow from Operations was ₹18 Mil.
Revenue was ₹2,116 Mil.
Gross Profit was ₹467 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (1311.183 + 2031.469) / 2 = ₹1671.326 Mil.
Total Assets at the begining of this year (Mar25) was ₹1,311 Mil.
Long-Term Debt & Capital Lease Obligation was ₹155 Mil.
Total Current Assets was ₹798 Mil.
Total Current Liabilities was ₹296 Mil.
Net Income was ₹131 Mil.

Revenue was ₹2,150 Mil.
Gross Profit was ₹435 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (705.422 + 1311.183) / 2 = ₹1008.3025 Mil.
Total Assets at the begining of last year (Mar24) was ₹705 Mil.
Long-Term Debt & Capital Lease Obligation was ₹133 Mil.
Total Current Assets was ₹619 Mil.
Total Current Liabilities was ₹179 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.

Beezaasan Explotech's current Net Income (TTM) was 133. ==> 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.

Beezaasan Explotech's current Cash Flow from Operations (TTM) was 18. ==> 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)
=132.746/1311.183
=0.1012414

ROA (Last Year)=Net Income/Total Assets (Mar24)
=131.229/705.422
=0.18602907

Beezaasan Explotech's return on assets of this year was 0.1012414. Beezaasan Explotech's return on assets of last year was 0.18602907. ==> Last year is higher ==> Score 0.

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.

Beezaasan Explotech's current Net Income (TTM) was 133. Beezaasan Explotech's current Cash Flow from Operations (TTM) was 18. ==> 18 <= 133 ==> 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
=155.023/1671.326
=0.0927545

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=133.028/1008.3025
=0.13193263

Beezaasan Explotech's gearing of this year was 0.0927545. Beezaasan Explotech's gearing of last year was 0.13193263. ==> 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
=797.909/295.922
=2.69634904

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=618.906/179.279
=3.45219462

Beezaasan Explotech's current ratio of this year was 2.69634904. Beezaasan Explotech's current ratio of last year was 3.45219462. ==> 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.

Beezaasan Explotech's number of shares in issue this year was 13.104. Beezaasan Explotech's number of shares in issue last year was 9.779. ==> 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
=466.577/2115.812
=0.22051912

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=434.961/2149.951
=0.20231205

Beezaasan Explotech's gross margin of this year was 0.22051912. Beezaasan Explotech's gross margin of last year was 0.20231205. ==> 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)
=2115.812/1311.183
=1.61366644

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=2149.951/705.422
=3.04775156

Beezaasan Explotech's asset turnover of this year was 1.61366644. Beezaasan Explotech's asset turnover of last year was 3.04775156. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

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

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

Beezaasan Explotech has an F-score of 4 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 4 mean?
Beezaasan Explotech (BOM:544369) has a Piotroski F-Score of 4 as of Aug. 17, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Beezaasan Explotech and its competitors. This is 43% below median its historical median of 7.00. Over the past decade, Beezaasan Explotech's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Beezaasan Explotech ranks #1027 out of 1562 companies in the Chemicals industry, placing it in the top 65.7%.
Is Beezaasan Explotech's Piotroski F-Score too high?
Beezaasan Explotech's current Piotroski F-Score of 4 is 43% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Chemicals industry median Piotroski F-Score is 5.00. Beezaasan Explotech's value of 4 is 20% below this industry median. Based on the distribution chart, Beezaasan Explotech ranks #1027 out of 1562 companies in the Chemicals industry, which is below the industry midpoint. Overall, Beezaasan Explotech has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Beezaasan Explotech's Piotroski F-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Beezaasan Explotech ranks #1027 out of 1562 companies for Piotroski F-Score. This places Beezaasan Explotech in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Beezaasan Explotech's value of 4 is 20% below this benchmark. Historically, Beezaasan Explotech's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Beezaasan Explotech has consistently been below 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 Chemicals company?
The median Piotroski F-Score among Chemicals companies is 5.00, based on 1,562 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. Beezaasan Explotech's current Piotroski F-Score of 4 is 20% below 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 Beezaasan Explotech and its competitors. For the Chemicals 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. Beezaasan Explotech's current Piotroski F-Score is 4, which is 43% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beezaasan Explotech stock overvalued right now?
Beezaasan Explotech (BOM:544369) has a current Piotroski F-Score of 4. The current Piotroski F-Score is 4, which is 43% below median its 10-year median of 7.00 and 20% below the Chemicals industry median of 5.00. Beezaasan Explotech's overall GF Score™ is 19/100 with 8 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 Beezaasan Explotech (BOM:544369), the current Piotroski F-Score is 4 as of Aug. 17, 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.

Beezaasan Explotech Business Description

Address Palace Road Himatnagar, Opposite LIC Office, District Sabarkantha, Himatnagar, GJ, IND, 383001
Beezaasan Explotech Ltd deals in manufacturing and supplying a wide array of Explosives and Explosive accessories covering mainly cartridge explosives which include Slurry Explosives, Emulsion Explosives, Cast Boosters, and Detonating Fuse. Its Products are manufactured using a mixture of nitrate, catering to diverse requirements. It has designed products that meet the stringent requirements of varied Industries which include the cement industry, mining industry, and defense industry.
19GF Score

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