Central Bank of India (BOM:532885) Beneish M-Score: -2.62 (As of Jun. 29, 2026)


BOM:532885 Central Bank of India BOM:532885
58 GF Score
Price ₹33.58
GF Value ₹45.65
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Central Bank of India Beneish M-Score?

Central Bank of India BOM:532885 +4.35% 58 Beneish M-Score is -2.62 as of Jun. 29, 2026. GuruFocus rates BOM:532885 with a GF Score™ of 58/100 and a GF Value™ of ₹45.65 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,399 Banks companies, Central Bank of India ranks better than 82.34% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Central Bank of India's Beneish M-Score or its related term are showing as below:

BOM:532885' s Beneish M-Score Range Over the Past 10 Years
Min: -3.35   Med: -2.4   Max: -1.79
Current: -2.62

During the past 13 years, the highest Beneish M-Score of Central Bank of India was -1.79. The lowest was -3.35. And the median was -2.40.

BOM:532885
58GF Score
Central Bank of India BOM:532885
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Central Bank of India Beneish M-Score Calculation

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 Central Bank of India 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 * 1+0.528 * 1+0.404 * 1.0015+0.892 * 1.0482+0.115 * 1.0329
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.003121-0.327 * 2.1481
=-2.62

* 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:
Total Receivables was ₹0 Mil.
Revenue was ₹205,722 Mil.
Gross Profit was ₹205,722 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹5,510,792 Mil.
Property, Plant and Equipment(Net PPE) was ₹51,255 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5,298 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹318,542 Mil.
Net Income was ₹45,238 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹28,040 Mil.
 Total Receivables was ₹0 Mil.
Revenue was ₹196,261 Mil.
Gross Profit was ₹196,261 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹4,804,568 Mil.
Property, Plant and Equipment(Net PPE) was ₹52,051 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5,576 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,429 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹129,286 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0 / 205722.3) / (0 / 196260.5)
=0 / 0
=1

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(196260.5 / 196260.5) / (205722.3 / 205722.3)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 51255.2) / 5510791.5) / (1 - (0 + 52051.373) / 4804568.418)
=0.990699 / 0.989166
=1.0015

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=205722.3 / 196260.5
=1.0482

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(5575.7 / (5575.7 + 52051.373)) / (5297.6 / (5297.6 + 51255.2))
=0.096755 / 0.093675
=1.0329

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 205722.3) / (1428.529 / 196260.5)
=0 / 0.007279
=0

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((318542.1 + 0) / 5510791.5) / ((129286.431 + 0) / 4804568.418)
=0.057803 / 0.026909
=2.1481

8. TATA = Total Accruals to Total Assets

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
=(45237.8 - 0 - 28039.8) / 5510791.5
=0.003121

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.

Central Bank of India has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.62 mean?
Central Bank of India (BOM:532885) has a Beneish M-Score of -2.62 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Central Bank of India and its competitors. According to the industry distribution chart, Central Bank of India ranks #247 out of 1399 companies in the Banks industry, placing it in the top 17.7%.
Is Central Bank of India's Beneish M-Score too high?
Central Bank of India's current Beneish M-Score is -2.62. Based on the distribution chart, Central Bank of India ranks #247 out of 1399 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Central Bank of India has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Central Bank of India's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Central Bank of India ranks #247 out of 1399 companies for Beneish M-Score. This places Central Bank of India in the top 18% of its industry — outperforming the majority of peers. 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Central Bank of India and its competitors. Central Bank of India's current Beneish M-Score is -2.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Central Bank of India stock overvalued right now?
Based on GuruFocus' analysis, Central Bank of India (BOM:532885) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹45.65, compared to a current price of ₹33.58 — trading 26.4% below its estimated fair value. The current Beneish M-Score is -2.62. Central Bank of India's overall GF Score™ is 58/100 with 3 warning signs to review. 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 Central Bank of India (BOM:532885), the current Beneish M-Score is -2.62 as of Jun. 29, 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 Central Bank of India (BOM:532885) Overvalued in 2026?

Based on GuruFocus' analysis, Central Bank of India stock appears to be undervalued. The current stock price of ₹33.58 is trading 26.4% below its estimated GF Value™ of ₹45.65. GuruFocus considers Central Bank of India to be Modestly Undervalued.

Key valuation signals for BOM:532885:

  • Beneish M-Score: -2.62
  • GF Value™: ₹45.65 vs. price of ₹33.58 (26.4% below fair value)
  • GF Score™: 58/100 with 3 warning signs

No single metric tells the full story. See the BOM:532885 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Central Bank of India Business Description

Other Exchanges CENTRALBK:India
Address Chander Mukhi Building, 9th Floor, Nariman Point, Mumbai, MH, IND, 400021
Central Bank of India is a commercial bank based in India. Its business comprises predominantly corporate and retail banking operations, which it provides through its network of branches and online platforms. Its retail banking operations comprise deposits, loans and digital banking services, agri-banking and debit and credit card facilities tailor-made for individual customers and its corporate banking products serve institutional and corporate customers. Its other business lines are treasury and other banking operations which involves dealing in Government and other securities money market operations and forex operations.
58GF Score

Get the complete analysis for BOM:532885

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

₹33.58
Price
₹45.65
GF Value