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Shanti Gold InternationalNSE:SHANTIGOLD +1.99%18 Piotroski F-Score is 7 as of Jul. 24, 2026, which is at its 10-year median of 7.00. GuruFocus rates NSE:SHANTIGOLD with a GF Score™ of 18/100. The stock has 3 warning signs investors should review. Among 1,097 Retail - Cyclical companies, Shanti Gold International ranks better than 90.79% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Shanti Gold International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Shanti Gold International's Piotroski F-Score or its related term are showing as below:
NSE:SHANTIGOLD'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 7 Max: 7
Current: 7
During the past 5 years, the highest Piotroski F-Score of Shanti Gold International was 7. The lowest was 5. And the median was 7.
Shanti Gold International (NSE:SHANTIGOLD) 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.
Shanti Gold International Piotroski F-Score Related Terms
Shanti Gold International Piotroski F-Score Historical Data
* 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.
NSE:SHANTIGOLD vs TPR: Piotroski F-Score Comparison
For the Luxury Goods subindustry, Shanti Gold International'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.
Shanti Gold International Piotroski F-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Shanti Gold International's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Shanti Gold International'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.
*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.
Shanti Gold International's current Net Income (TTM) was 1,402.
==> 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.
Shanti Gold International's current Cash Flow from Operations (TTM) was -2,606.
==> 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.
Shanti Gold International's return on assets of this year was 0.3338383. Shanti Gold International's return on assets of last year was 0.16627177.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Shanti Gold International's gearing of this year was 0.02131786. Shanti Gold International's gearing of last year was 0.07034903.
==> 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
Shanti Gold International's current ratio of this year was 3.31477039. Shanti Gold International's current ratio of last year was 1.50237502.
==> 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.
Shanti Gold International's number of shares in issue this year was 66.047. Shanti Gold International's number of shares in issue last year was 72.096.
==> 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.
Shanti Gold International's gross margin of this year was 0.10852332. Shanti Gold International's gross margin of last year was 0.09534918.
==> 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
Shanti Gold International's asset turnover of this year was 4.80844207. Shanti Gold International's asset turnover of last year was 3.40013399.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Shanti Gold International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Shanti Gold International (NSE:SHANTIGOLD) has a Piotroski F-Score of 7 as of Jul. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shanti Gold International and its competitors. This is near median its historical median of 7.00. Over the past decade, Shanti Gold International's Piotroski F-Score has ranged from 5.00 to 7.00. According to the industry distribution chart, Shanti Gold International ranks #101 out of 1097 companies in the Retail - Cyclical industry, placing it in the top 9.2%.
Is Shanti Gold International's Piotroski F-Score too high?
Shanti Gold International's current Piotroski F-Score of 7 is near median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 7.00. The Retail - Cyclical industry median Piotroski F-Score is 6.00. Shanti Gold International's value of 7 is 16.7% above this industry median. Based on the distribution chart, Shanti Gold International ranks #101 out of 1097 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Shanti Gold International has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Shanti Gold International's Piotroski F-Score compare to TPR?
According to the Retail - Cyclical industry distribution chart, Shanti Gold International ranks #101 out of 1097 companies for Piotroski F-Score. This places Shanti Gold International in the top 9% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Shanti Gold International's value of 7 is 16.7% above this benchmark. Historically, Shanti Gold International's own Piotroski F-Score has ranged from 5.00 to 7.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, Shanti Gold International 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 Retail - Cyclical company?
The median Piotroski F-Score among Retail - Cyclical companies is 6.00, based on 1,097 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. Shanti Gold International's current Piotroski F-Score of 7 is 16.7% 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 Shanti Gold International and its competitors. For the Retail - Cyclical industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanti Gold International's current Piotroski F-Score is 7, which is near 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 Shanti Gold International stock overvalued right now?
Shanti Gold International (NSE:SHANTIGOLD) has a current Piotroski F-Score of 7. The current Piotroski F-Score is 7, which is near median its 10-year median of 7.00 and 16.7% above the Retail - Cyclical industry median of 6.00. Shanti Gold International's overall GF Score™ is 18/100 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 Shanti Gold International (NSE:SHANTIGOLD), the current Piotroski F-Score is 7 as of Jul. 24, 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.
Shanti Gold International Ltd is one of the manufacturers of high-quality 22kt CZ casting gold jewellery, specializing in the design and production of all types of gold jewellery. The Company offers a wide range of high-quality, intricately designed pieces, including bangles, rings, necklaces, and complete jewellery sets across various price points ranging from jewellery for special occasions, such as weddings to festive and daily-wear jewellery.
18GF Score
Get the complete analysis for NSE:SHANTIGOLD
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