Annapurna Swadisht (NSE:ANNAPURNA) Piotroski F-Score: 2 (As of Jul. 12, 2026) — 33% Below Median


NSE:ANNAPURNA Annapurna Swadisht Ltd NSE:ANNAPURNA
39 GF Score
Price ₹132.00
GF Value ₹589.14
Valuation Possible Value Trap
! 6 Warning Signs
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What is Annapurna Swadisht Piotroski F-Score?

Annapurna Swadisht NSE:ANNAPURNA +1.54% 39 Piotroski F-Score is 2 as of Jul. 12, 2026, which is 33% below its 10-year median of 3.00. GuruFocus rates NSE:ANNAPURNA with a GF Score™ of 39/100 and a GF Value™ of ₹589.14 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, Annapurna Swadisht ranks worse than 94.82% on this metric.

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Annapurna Swadisht has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

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

NSE:ANNAPURNA' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 3   Max: 7
Current: 2

During the past 6 years, the highest Piotroski F-Score of Annapurna Swadisht was 7. The lowest was 2. And the median was 3.

Annapurna Swadisht  (NSE:ANNAPURNA) 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.


Annapurna Swadisht Piotroski F-Score Related Terms


Annapurna Swadisht Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Annapurna Swadisht'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.

Annapurna Swadisht Piotroski F-Score Chart

Annapurna Swadisht Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Piotroski F-Score
Get a 7-Day Free Trial N/A 3.00 7.00 3.00 2.00

Annapurna Swadisht Semi-Annual Data
Mar20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 3.00 0.00 2.00 0.00

NSE:ANNAPURNA vs KHC, GIS: Piotroski F-Score Comparison

For the Packaged Foods subindustry, Annapurna Swadisht'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.


Annapurna Swadisht Piotroski F-Score vs Consumer Packaged Goods Industry

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

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


NSE:ANNAPURNA
39GF Score
Annapurna Swadisht Ltd NSE:ANNAPURNA
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 (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was ₹215 Mil.
Cash Flow from Operations was ₹-159 Mil.
Revenue was ₹4,080 Mil.
Gross Profit was ₹1,208 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was (2362.135 + 4695.385) / 2 = ₹3528.76 Mil.
Total Assets at the begining of this year (Mar24) was ₹2,362 Mil.
Long-Term Debt & Capital Lease Obligation was ₹224 Mil.
Total Current Assets was ₹2,066 Mil.
Total Current Liabilities was ₹1,412 Mil.
Net Income was ₹131 Mil.

Revenue was ₹2,650 Mil.
Gross Profit was ₹815 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was (1118.033 + 2362.135) / 2 = ₹1740.084 Mil.
Total Assets at the begining of last year (Mar23) was ₹1,118 Mil.
Long-Term Debt & Capital Lease Obligation was ₹83 Mil.
Total Current Assets was ₹1,275 Mil.
Total Current Liabilities was ₹1,123 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.

Annapurna Swadisht's current Net Income (TTM) was 215. ==> 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.

Annapurna Swadisht's current Cash Flow from Operations (TTM) was -159. ==> 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 (Mar24)
=215.13/2362.135
=0.09107439

ROA (Last Year)=Net Income/Total Assets (Mar23)
=131.323/1118.033
=0.11745897

Annapurna Swadisht's return on assets of this year was 0.09107439. Annapurna Swadisht's return on assets of last year was 0.11745897. ==> 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.

Annapurna Swadisht's current Net Income (TTM) was 215. Annapurna Swadisht's current Cash Flow from Operations (TTM) was -159. ==> -159 <= 215 ==> 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: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=223.558/3528.76
=0.06335313

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=83.456/1740.084
=0.0479609

Annapurna Swadisht's gearing of this year was 0.06335313. Annapurna Swadisht's gearing of last year was 0.0479609. ==> 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: Mar25)=Total Current Assets/Total Current Liabilities
=2066.299/1411.635
=1.46376294

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=1274.697/1122.652
=1.13543378

Annapurna Swadisht's current ratio of this year was 1.46376294. Annapurna Swadisht's current ratio of last year was 1.13543378. ==> 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.

Annapurna Swadisht's number of shares in issue this year was 19.855. Annapurna Swadisht's number of shares in issue last year was 18.64. ==> 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
=1208.435/4079.706
=0.29620639

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=815.339/2649.728
=0.30770668

Annapurna Swadisht's gross margin of this year was 0.29620639. Annapurna Swadisht's gross margin of last year was 0.30770668. ==> 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

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=4079.706/2362.135
=1.72712652

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=2649.728/1118.033
=2.36999087

Annapurna Swadisht's asset turnover of this year was 1.72712652. Annapurna Swadisht's asset turnover of last year was 2.36999087. ==> 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+0+0+0+0+1+0+0+0
=2

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

Annapurna Swadisht has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 2 mean?
Annapurna Swadisht (NSE:ANNAPURNA) has a Piotroski F-Score of 2 as of Jul. 12, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Annapurna Swadisht and its competitors. This is 33% below median its historical median of 3.00. Over the past decade, Annapurna Swadisht's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Annapurna Swadisht ranks #1812 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 94.8%.
Is Annapurna Swadisht's Piotroski F-Score too high?
Annapurna Swadisht's current Piotroski F-Score of 2 is 33% below median its 10-year median of 3.00. 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. Annapurna Swadisht's value of 2 is 60% below this industry median. Based on the distribution chart, Annapurna Swadisht ranks #1812 out of 1911 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Annapurna Swadisht has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Annapurna Swadisht's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Annapurna Swadisht ranks #1812 out of 1911 companies for Piotroski F-Score. This places Annapurna Swadisht in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Annapurna Swadisht's value of 2 is 60% below this benchmark. Historically, Annapurna Swadisht'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 3.00 vs. the industry median of 5.00, Annapurna Swadisht 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 Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,911 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. Annapurna Swadisht's current Piotroski F-Score of 2 is 60% 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 Annapurna Swadisht 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. Annapurna Swadisht's current Piotroski F-Score is 2, which is 33% below median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Annapurna Swadisht stock overvalued right now?
Based on GuruFocus' analysis, Annapurna Swadisht (NSE:ANNAPURNA) is currently considered Possible Value Trap. The stock's GF Value™ is ₹589.14, compared to a current price of ₹132.00 — trading 77.6% below its estimated fair value. The current Piotroski F-Score is 2, which is 33% below median its 10-year median of 3.00 and 60% below the Consumer Packaged Goods industry median of 5.00. Annapurna Swadisht's overall GF Score™ is 39/100 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 Annapurna Swadisht (NSE:ANNAPURNA), the current Piotroski F-Score is 2 as of Jul. 12, 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 Annapurna Swadisht (NSE:ANNAPURNA) Overvalued in 2026?

Based on GuruFocus' analysis, Annapurna Swadisht stock appears to be undervalued. The current stock price of ₹132.00 is trading 77.6% below its estimated GF Value™ of ₹589.14. GuruFocus considers Annapurna Swadisht to be Possible Value Trap.

Key valuation signals for NSE:ANNAPURNA:

  • Piotroski F-Score: 2 (33% below median its 10-year median of 3.00)
  • GF Value™: ₹589.14 vs. price of ₹132.00 (77.6% below fair value)
  • GF Score™: 39/100 with 6 warning signs
  • Industry Position: 60% below the Consumer Packaged Goods median (#1812 of 1911)

No single metric tells the full story. See the NSE:ANNAPURNA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Annapurna Swadisht Business Description

Address Jawaharlal Nehru Road, 13th Floor, Unit No. A01 and A02, 33A, Chatterjee International Building, Kolkata, WB, IND, 700071
Annapurna Swadisht Ltd is a manufacturer of snacks and food products, namely, Fryums, cakes, candy, namkeen, chips, and biscuits. The company's products are marketed under its own product names Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Litchi, among others. The company operates only in one segment, namely the manufacturing of food products.
39GF Score

Get the complete analysis for NSE:ANNAPURNA

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

₹132.00
Price
₹589.14
GF Value