Rafhan Maize Product CoKAR:RMPL -0.10%92 Piotroski F-Score is 5 as of Jun. 25, 2026, which is at its 10-year median of 5.00. GuruFocus rates KAR:RMPL with a GF Score™ of 92/100 and a GF Value™ of ₨9,696.89 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,912 Consumer Packaged Goods companies, Rafhan Maize Product Co ranks better than 52.04% 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
Rafhan Maize Product Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Rafhan Maize Product Co's Piotroski F-Score or its related term are showing as below:
KAR:RMPL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 8
Current: 5
During the past 13 years, the highest Piotroski F-Score of Rafhan Maize Product Co was 8. The lowest was 2. And the median was 5.
Rafhan Maize Product Co (KAR:RMPL) 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.
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.
Rafhan Maize Product Co Piotroski F-Score Related Terms
Rafhan Maize Product Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Rafhan Maize Product Co'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.
KAR:RMPL vs ADM, BG, TSN: Piotroski F-Score Comparison
For the Farm Products subindustry, Rafhan Maize Product Co'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.
Rafhan Maize Product Co Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Rafhan Maize Product Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Rafhan Maize Product Co's Piotroski F-Score falls into.
* 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 1911.058 + 1223.662 + 1445.075 + 2032.881 = ₨6,613 Mil. Cash Flow from Operations was 928.967 + -3452.676 + 8883.687 + 2881.325 = ₨9,241 Mil. Revenue was 17470.034 + 18913.059 + 17919.372 + 19043.839 = ₨73,346 Mil. Gross Profit was 3768.019 + 2935.437 + 3210.129 + 4163.23 = ₨14,077 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(49530.595 + 58140.536 + 51944.697 + 59174.129 + 50462.876) / 5 = ₨53850.5666 Mil. Total Assets at the begining of this year (Mar25) was ₨49,531 Mil. Long-Term Debt & Capital Lease Obligation was ₨288 Mil. Total Current Assets was ₨38,321 Mil. Total Current Liabilities was ₨17,312 Mil.
Net Income was 1902.239 + 1854.519 + 1910.11 + 1955.046 = ₨7,622 Mil.
Revenue was 16177.002 + 16689.79 + 19605.311 + 19060.166 = ₨71,532 Mil. Gross Profit was 3333.238 + 3829.877 + 3905.133 + 3897.161 = ₨14,965 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(42854.041 + 46086.225 + 43596.116 + 51878.111 + 49530.595) / 5 = ₨46789.0176 Mil. Total Assets at the begining of last year (Mar24) was ₨42,854 Mil. Long-Term Debt & Capital Lease Obligation was ₨391 Mil. Total Current Assets was ₨39,231 Mil. Total Current Liabilities was ₨18,660 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.
Rafhan Maize Product Co's current Net Income (TTM) was 6,613.
==> 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.
Rafhan Maize Product Co's current Cash Flow from Operations (TTM) was 9,241.
==> 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.
Rafhan Maize Product Co's return on assets of this year was 0.1335069. Rafhan Maize Product Co's return on assets of last year was 0.17785753.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Rafhan Maize Product Co's gearing of this year was 0.00535528. Rafhan Maize Product Co's gearing of last year was 0.00836476.
==> 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
Rafhan Maize Product Co's current ratio of this year was 2.2135647. Rafhan Maize Product Co's current ratio of last year was 2.10238974.
==> 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.
Rafhan Maize Product Co's number of shares in issue this year was 9.237. Rafhan Maize Product Co's number of shares in issue last year was 9.236.
==> 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.
Rafhan Maize Product Co's gross margin of this year was 0.19192262. Rafhan Maize Product Co's gross margin of last year was 0.209212.
==> Last year's gross margin is higher ==> Score 0.
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
Rafhan Maize Product Co's asset turnover of this year was 1.48082824. Rafhan Maize Product Co's asset turnover of last year was 1.66920709.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Rafhan Maize Product Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Rafhan Maize Product Co (KAR:RMPL) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Rafhan Maize Product Co and its competitors. This is near median its historical median of 5.00. Over the past decade, Rafhan Maize Product Co's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Rafhan Maize Product Co ranks #917 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 48%.
Is Rafhan Maize Product Co's Piotroski F-Score too high?
Rafhan Maize Product Co's current Piotroski F-Score of 5 is near 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 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Rafhan Maize Product Co's value of 5 is 0% at this industry median. Based on the distribution chart, Rafhan Maize Product Co ranks #917 out of 1912 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Rafhan Maize Product Co has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Rafhan Maize Product Co's Piotroski F-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Rafhan Maize Product Co ranks #917 out of 1912 companies for Piotroski F-Score. This puts Rafhan Maize Product Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Rafhan Maize Product Co's value of 5 is 0% at this benchmark. Historically, Rafhan Maize Product Co's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Rafhan Maize Product Co has consistently been at 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 1,912 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. Rafhan Maize Product Co's current Piotroski F-Score of 5 is 0% at 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 Rafhan Maize Product Co 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. Rafhan Maize Product Co's current Piotroski F-Score is 5, which is near 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 Rafhan Maize Product Co stock overvalued right now?
Based on GuruFocus' analysis, Rafhan Maize Product Co (KAR:RMPL) is currently considered Fairly Valued. The stock's GF Value™ is ₨9,696.89, compared to a current price of ₨9,506.37 — trading 2% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Consumer Packaged Goods industry median of 5.00. Rafhan Maize Product Co's overall GF Score™ is 92/100 with 6 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 Rafhan Maize Product Co (KAR:RMPL), the current Piotroski F-Score is 5 as of Jun. 25, 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.
Is Rafhan Maize Product Co (KAR:RMPL) Overvalued in 2026?
Based on GuruFocus' analysis, Rafhan Maize Product Co stock appears to be undervalued.
The current stock price of ₨9,506.37 is trading 2% below its estimated GF Value™ of ₨9,696.89.
GuruFocus considers Rafhan Maize Product Co to be Fairly Valued.
Key valuation signals for KAR:RMPL:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: ₨9,696.89 vs. price of ₨9,506.37 (2% below fair value)
Industry Position: 0% at the Consumer Packaged Goods median (#917 of 1912)
No single metric tells the full story. See the KAR:RMPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rafhan Maize Product Co Ltd is involved in the business of using maize as the basic raw material to manufacture and sell industrial products. Its products are Industrial Starches, Liquid Glucose, Dextrose, Dextrin, and Gluten Meals. It supplies its products to textiles, pharmaceuticals, paper, food, baking, confectionery, and other industries. The company sells its products in Pakistan and also exports them to other countries, of which key revenue is derived within Pakistan.
92GF Score
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