Shree Rama Newsprint (NSE:RAMANEWS) Piotroski F-Score: 2 (As of Jun. 26, 2026) — 60% Below Median


NSE:RAMANEWS Shree Rama Newsprint Ltd NSE:RAMANEWS
30 GF Score
Price ₹29.06
GF Value ₹14.74
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Shree Rama Newsprint Piotroski F-Score?

Shree Rama Newsprint NSE:RAMANEWS -0.48% 30 Piotroski F-Score is 2 as of Jun. 26, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates NSE:RAMANEWS with a GF Score™ of 30/100 and a GF Value™ of ₹14.74 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 112 Beverages - Non-Alcoholic companies, Shree Rama Newsprint ranks worse than 97.32% 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

Shree Rama Newsprint 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 Shree Rama Newsprint's Piotroski F-Score or its related term are showing as below:

NSE:RAMANEWS' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 9
Current: 2

During the past 13 years, the highest Piotroski F-Score of Shree Rama Newsprint was 9. The lowest was 2. And the median was 5.

Shree Rama Newsprint  (NSE:RAMANEWS) 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.


Shree Rama Newsprint Piotroski F-Score Related Terms


Shree Rama Newsprint Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Shree Rama Newsprint'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.

Shree Rama Newsprint Piotroski F-Score Chart

Shree Rama Newsprint 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 6.00 5.00 6.00 4.00 2.00

Shree Rama Newsprint 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 4.00 0.00 0.00 0.00 2.00

NSE:RAMANEWS vs KO, PEP, MNST: Piotroski F-Score Comparison

For the Beverages - Non-Alcoholic subindustry, Shree Rama Newsprint'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.


Shree Rama Newsprint Piotroski F-Score vs Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Shree Rama Newsprint's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Shree Rama Newsprint's Piotroski F-Score falls into.


NSE:RAMANEWS
30GF Score
Shree Rama Newsprint Ltd NSE:RAMANEWS
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 ₹-685.4 Mil.
Cash Flow from Operations was ₹-10.9 Mil.
Revenue was ₹327.2 Mil.
Gross Profit was ₹157.6 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was (5147.423 + 4646.088) / 2 = ₹4896.7555 Mil.
Total Assets at the begining of this year (Mar25) was ₹5,147.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,500.0 Mil.
Total Current Assets was ₹1,255.6 Mil.
Total Current Liabilities was ₹1,970.2 Mil.
Net Income was ₹-1,062.9 Mil.

Revenue was ₹441.3 Mil.
Gross Profit was ₹230.3 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was (5999.902 + 5147.423) / 2 = ₹5573.6625 Mil.
Total Assets at the begining of last year (Mar24) was ₹5,999.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,500.0 Mil.
Total Current Assets was ₹1,720.8 Mil.
Total Current Liabilities was ₹1,785.8 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.

Shree Rama Newsprint's current Net Income (TTM) was -685.4. ==> Negative ==> Score 0.

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.

Shree Rama Newsprint's current Cash Flow from Operations (TTM) was -10.9. ==> 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)
=-685.35/5147.423
=-0.13314429

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-1062.869/5999.902
=-0.17714773

Shree Rama Newsprint's return on assets of this year was -0.13314429. Shree Rama Newsprint's return on assets of last year was -0.17714773. ==> 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.

Shree Rama Newsprint's current Net Income (TTM) was -685.4. Shree Rama Newsprint's current Cash Flow from Operations (TTM) was -10.9. ==> -10.9 > -685.4 ==> 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
=3500/4896.7555
=0.71475899

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=3500/5573.6625
=0.62795334

Shree Rama Newsprint's gearing of this year was 0.71475899. Shree Rama Newsprint's gearing of last year was 0.62795334. ==> 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
=1255.611/1970.187
=0.63730549

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=1720.815/1785.756
=0.96363389

Shree Rama Newsprint's current ratio of this year was 0.63730549. Shree Rama Newsprint's current ratio of last year was 0.96363389. ==> 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.

Shree Rama Newsprint's number of shares in issue this year was 147.705. Shree Rama Newsprint's number of shares in issue last year was 147.416. ==> 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
=157.55/327.186
=0.48153038

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=230.271/441.321
=0.52177667

Shree Rama Newsprint's gross margin of this year was 0.48153038. Shree Rama Newsprint's gross margin of last year was 0.52177667. ==> 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 (Mar25)
=327.186/5147.423
=0.06356307

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=441.321/5999.902
=0.0735547

Shree Rama Newsprint's asset turnover of this year was 0.06356307. Shree Rama Newsprint's asset turnover of last year was 0.0735547. ==> 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
=0+0+1+1+0+0+0+0+0
=2

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

Shree Rama Newsprint 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?
Shree Rama Newsprint (NSE:RAMANEWS) has a Piotroski F-Score of 2 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shree Rama Newsprint and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Shree Rama Newsprint's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Shree Rama Newsprint ranks #109 out of 112 companies in the Beverages - Non-Alcoholic industry, placing it in the top 97.3%.
Is Shree Rama Newsprint's Piotroski F-Score too high?
Shree Rama Newsprint's current Piotroski F-Score of 2 is 60% below 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 9.00. The Beverages - Non-Alcoholic industry median Piotroski F-Score is 5.50. Shree Rama Newsprint's value of 2 is 63.6% below this industry median. Based on the distribution chart, Shree Rama Newsprint ranks #109 out of 112 companies in the Beverages - Non-Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Shree Rama Newsprint has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shree Rama Newsprint's Piotroski F-Score compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Shree Rama Newsprint ranks #109 out of 112 companies for Piotroski F-Score. This places Shree Rama Newsprint in the lower half of its industry. The industry median Piotroski F-Score is 5.50. Shree Rama Newsprint's value of 2 is 63.6% below this benchmark. Historically, Shree Rama Newsprint's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.50, Shree Rama Newsprint 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 Beverages - Non-Alcoholic company?
The median Piotroski F-Score among Beverages - Non-Alcoholic companies is 5.50, based on 112 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. Shree Rama Newsprint's current Piotroski F-Score of 2 is 63.6% 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 Shree Rama Newsprint and its competitors. For the Beverages - Non-Alcoholic industry, the median Piotroski F-Score is 5.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shree Rama Newsprint's current Piotroski F-Score is 2, which is 60% below 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 Shree Rama Newsprint stock overvalued right now?
Based on GuruFocus' analysis, Shree Rama Newsprint (NSE:RAMANEWS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹14.74, compared to a current price of ₹29.06 — trading 97.2% above its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 63.6% below the Beverages - Non-Alcoholic industry median of 5.50. Shree Rama Newsprint's overall GF Score™ is 30/100 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 Shree Rama Newsprint (NSE:RAMANEWS), the current Piotroski F-Score is 2 as of Jun. 26, 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 Shree Rama Newsprint (NSE:RAMANEWS) Overvalued in 2026?

Based on GuruFocus' analysis, Shree Rama Newsprint stock appears to be overvalued. The current stock price of ₹29.06 is trading 97.2% above its estimated GF Value™ of ₹14.74. GuruFocus considers Shree Rama Newsprint to be Significantly Overvalued.

Key valuation signals for NSE:RAMANEWS:

  • Piotroski F-Score: 2 (60% below median its 10-year median of 5.00)
  • GF Value™: ₹14.74 vs. price of ₹29.06 (97.2% above fair value)
  • GF Score™: 30/100 with 4 warning signs
  • Industry Position: 63.6% below the Beverages - Non-Alcoholic median (#109 of 112)

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


Shree Rama Newsprint Business Description

Other Exchanges 500356:India
Address Ambli - Bopal Road, 10, Abhishree Corporate Park, Ambli, Near Swagat Bunglows BRTS Bus Stand, Ahmedabad, GJ, IND, 380 058
Shree Rama Newsprint Ltd operates into segment of the Packaged Drinking Water bottling plant.
30GF Score

Get the complete analysis for NSE:RAMANEWS

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

₹29.06
Price
₹14.74
GF Value