Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Time Technoplast's Beneish M-Score or its related term are showing as below:
BOM:532856'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.43 Max: -2.02
Current: -2.02
During the past 13 years, the highest Beneish M-Score of Time Technoplast was -2.02. The lowest was -2.83. And the median was -2.43.
Time Technoplast Beneish M-Score Related Terms
Time Technoplast Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Time Technoplast's Beneish M-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.
BOM:532856 vs SW, PKG, IP: Beneish M-Score Comparison
For the Packaging & Containers subindustry, Time Technoplast's Beneish M-Score, along with its competitors' market caps and Beneish M-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.
Time Technoplast Beneish M-Score vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Time Technoplast's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Time Technoplast's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Time Technoplast for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.9937
+
0.528 * 1.0055
+
0.404 * 0.7929
+
0.892 * 1.1188
+
0.115 * 1.0548
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.041762
-
0.327 * 0.7851
=
-2.02
* 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.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(1696.7 / (1696.7 + 14519.139))
/
(1833.4 / (1833.4 + 16648.6))
=
0.104632
/
0.099199
=
1.0548
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(4687.2 - 0
-
2332.4)
/
56386.5
=
0.041762
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Time Technoplast has a M-score of -2.02 suggests that the company is unlikely to be a manipulator.
Time Technoplast (BOM:532856) has a Beneish M-Score of -2.02 as of Jul. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Time Technoplast and its competitors. According to the industry distribution chart, Time Technoplast ranks #304 out of 375 companies in the Packaging & Containers industry, placing it in the top 81.1%.
Is Time Technoplast's Beneish M-Score too high?
Time Technoplast's current Beneish M-Score is -2.02. Based on the distribution chart, Time Technoplast ranks #304 out of 375 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, Time Technoplast has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Time Technoplast's Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Time Technoplast ranks #304 out of 375 companies for Beneish M-Score. This places Time Technoplast in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Time Technoplast and its competitors. Time Technoplast's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Time Technoplast stock overvalued right now?
Based on GuruFocus' analysis, Time Technoplast (BOM:532856) is currently considered Fairly Valued. The stock's GF Value™ is ₹205.67, compared to a current price of ₹216.40 — trading 5.2% above its estimated fair value. The current Beneish M-Score is -2.02. Time Technoplast's overall GF Score™ is 77/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Time Technoplast (BOM:532856), the current Beneish M-Score is -2.02 as of Jul. 30, 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 Time Technoplast (BOM:532856) Overvalued in 2026?
Based on GuruFocus' analysis, Time Technoplast stock appears to be overvalued.
The current stock price of ₹216.40 is trading 5.2% above its estimated GF Value™ of ₹205.67.
GuruFocus considers Time Technoplast to be Fairly Valued.
Key valuation signals for BOM:532856:
Beneish M-Score: -2.02
GF Value™: ₹205.67 vs. price of ₹216.40 (5.2% above fair value)
No single metric tells the full story. See the BOM:532856 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Time Technoplast Ltd is a packaging solutions provider. The company's portfolio consists of technically driven products catering to growing industry segments like Industrial Packaging Solutions, Lifestyle Products, Automotive Components, Infrastructure / Construction-related products, Material Handling Solutions & Composite Cylinders. The Polymer segment is the company's core segment and generates maximum revenues. The Composite products segment provides products such as pressure pipes, prefabricated shelters, and energy storage devices. Apart from India. It has operational footprints in the UAE, Bahrain, Egypt, Thailand, Vietnam, Malaysia, Indonesia, the United States, and Taiwan.
77GF Score
Get the complete analysis for BOM:532856
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOM:532856 has been successfully added to your 
