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LGB ForgeBOM:533007 49 Beneish M-Score is -3.00 as of Jul. 31, 2026. GuruFocus rates BOM:533007 with a GF Score™ of 49/100 and a GF Value™ of ₹11.97 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,909 Industrial Products companies, LGB Forge ranks better than 87.62% on this metric.
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 -3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for LGB Forge's Beneish M-Score or its related term are showing as below:
BOM:533007'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.02 Med: -2.89 Max: -1.53
Current: -3
During the past 13 years, the highest Beneish M-Score of LGB Forge was -1.53. The lowest was -4.02. And the median was -2.89.
The historical data trend for LGB Forge'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:533007 vs CRS, ATI, MLI: Beneish M-Score Comparison
For the Metal Fabrication subindustry, LGB Forge'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.
LGB Forge Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, LGB Forge's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LGB Forge'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 LGB Forge 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 * 0.97
+
0.528 * 0.9193
+
0.404 * 1.0475
+
0.892 * 1.1079
+
0.115 * 0.8598
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0049
+
4.679 * -0.113952
-
0.327 * 1.0328
=
-3.00
* 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))
=
(29.103 / (29.103 + 171.74))
/
(34.912 / (34.912 + 172.25))
=
0.144904
/
0.168525
=
0.8598
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
=
(-22.173 - 0
-
49.456)
/
628.591
=
-0.113952
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.
LGB Forge has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.
LGB Forge (BOM:533007) has a Beneish M-Score of -3.00 as of Jul. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on LGB Forge and its competitors. According to the industry distribution chart, LGB Forge ranks #360 out of 2909 companies in the Industrial Products industry, placing it in the top 12.4%.
Is LGB Forge's Beneish M-Score too high?
LGB Forge's current Beneish M-Score is -3.00. Based on the distribution chart, LGB Forge ranks #360 out of 2909 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, LGB Forge has a GF Score™ of 49/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does LGB Forge's Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, LGB Forge ranks #360 out of 2909 companies for Beneish M-Score. This places LGB Forge in the top 12% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 LGB Forge and its competitors. LGB Forge's current Beneish M-Score is -3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LGB Forge stock overvalued right now?
Based on GuruFocus' analysis, LGB Forge (BOM:533007) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹11.97, compared to a current price of ₹5.55 — trading 53.6% below its estimated fair value. The current Beneish M-Score is -3.00. LGB Forge's overall GF Score™ is 49/100 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 LGB Forge (BOM:533007), the current Beneish M-Score is -3.00 as of Jul. 31, 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 LGB Forge (BOM:533007) Overvalued in 2026?
Based on GuruFocus' analysis, LGB Forge stock appears to be undervalued.
The current stock price of ₹5.55 is trading 53.6% below its estimated GF Value™ of ₹11.97.
GuruFocus considers LGB Forge to be Significantly Undervalued.
Key valuation signals for BOM:533007:
Beneish M-Score: -3.00
GF Value™: ₹11.97 vs. price of ₹5.55 (53.6% below fair value)
No single metric tells the full story. See the BOM:533007 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LGB Forge Ltd is engaged in the manufacturing of cold and hot forged components, and machined components. It is engaged in manufacturing auto, electrical and transmission forged components for automobiles, and non-automotive segments, such as the valve industry and infrastructure equipment industry. The firm's product categories include hot forging, hot and warm forging, and cold forging. The hot forging products include valve bonnets, rocker arms, and bucket tooths. The hot and warm forging products include bell, body starter clutch, tulip, and claw. The cold forging products include ball pins, ball rods, boss rotors, fuel pump components, and others. The Company operates in only one segment viz., Forging and Machining. Geographically, the company derives its key revenue from India.
49GF Score
Get the complete analysis for BOM:533007
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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