Talwalkars Lifestyles (BOM:541545) Beneish M-Score: 0.00 (As of Sep. 21, 2026)

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What is Talwalkars Lifestyles Beneish M-Score?

Talwalkars Lifestyles BOM:541545 Beneish M-Score is 0.00 as of Sep. 21, 2026.

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.

The historical rank and industry rank for Talwalkars Lifestyles's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Talwalkars Lifestyles was 0.00. The lowest was 0.00. And the median was 0.00.

Talwalkars Lifestyles Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Talwalkars Lifestyles'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.

Talwalkars Lifestyles Beneish M-Score Chart

Talwalkars Lifestyles Annual Data
Trend Mar17 Mar18 Mar19
Beneish M-Score
- - -

Talwalkars Lifestyles Quarterly Data
Mar17 Mar18 Jun18 Sep18 Mar19 Jun19
Beneish M-Score Get a 7-Day Free Trial - - - - -

BOM:541545 vs PTON, POOL, HAS: Beneish M-Score Comparison

For the Leisure subindustry, Talwalkars Lifestyles'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.

Talwalkars Lifestyles Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Talwalkars Lifestyles's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Talwalkars Lifestyles's Beneish M-Score falls into.


Talwalkars Lifestyles 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 Talwalkars Lifestyles 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 * 1.3978+0.528 * 1.0487+0.404 * 1.0926+0.892 * 1.1391+0.115 * 1.0298
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3583+4.679 * 0.064431-0.327 * 1.1445
=-1.73

* 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 (Mar19) TTM:Last Year (Mar18) TTM:
Total Receivables was ₹1,004 Mil.
Revenue was ₹2,814 Mil.
Gross Profit was ₹1,862 Mil.
Total Current Assets was ₹2,020 Mil.
Total Assets was ₹10,897 Mil.
Property, Plant and Equipment(Net PPE) was ₹5,083 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹362 Mil.
Selling, General, & Admin. Expense(SGA) was ₹801 Mil.
Total Current Liabilities was ₹1,432 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4,332 Mil.
Net Income was ₹702 Mil.
Gross Profit was ₹ Mil.
Cash Flow from Operations was ₹ Mil.
 Total Receivables was ₹631 Mil.
Revenue was ₹2,471 Mil.
Gross Profit was ₹1,715 Mil.
Total Current Assets was ₹1,629 Mil.
Total Assets was ₹8,427 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,113 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹303 Mil.
Selling, General, & Admin. Expense(SGA) was ₹518 Mil.
Total Current Liabilities was ₹888 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,006 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)
=(1004.45 / 2814.46) / (630.88 / 2470.85)
=0.356889 / 0.255329
=1.3978

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)
=(1714.55 / 2470.85) / (1862.34 / 2814.46)
=0.693911 / 0.661704
=1.0487

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 - (2019.75 + 5083.45) / 10897.05) / (1 - (1628.7 + 4112.85) / 8426.66)
=0.348154 / 0.318645
=1.0926

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
=2814.46 / 2470.85
=1.1391

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))
=(302.52 / (302.52 + 4112.85)) / (362.33 / (362.33 + 5083.45))
=0.068515 / 0.066534
=1.0298

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)
=(801.27 / 2814.46) / (517.9 / 2470.85)
=0.284698 / 0.209604
=1.3583

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)
=((4331.57 + 1431.8) / 10897.05) / ((3006.46 + 887.63) / 8426.66)
=0.528893 / 0.462115
=1.1445

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
=(702.11 - 0 - 0) / 10897.05
=0.064431

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.

Talwalkars Lifestyles has a M-score of -1.73 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Talwalkars Lifestyles (BOM:541545) has a Beneish M-Score of 0.00 as of Sep. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Talwalkars Lifestyles and its competitors.
Is Talwalkars Lifestyles' Beneish M-Score too high?
Talwalkars Lifestyles' current Beneish M-Score is 0.00.
How does Talwalkars Lifestyles' Beneish M-Score compare to PTON and POOL?
Talwalkars Lifestyles' Beneish M-Score of 0.00 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Talwalkars Lifestyles and its competitors. Talwalkars Lifestyles's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Talwalkars Lifestyles stock overvalued right now?
Talwalkars Lifestyles (BOM:541545) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Talwalkars Lifestyles (BOM:541545), the current Beneish M-Score is 0.00 as of Sep. 21, 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.

Talwalkars Lifestyles Business Description

Address 22, Bhulabhai Desai Road, 801 - 813, Mahalaxmi Chambers, Breach Candy, Cumballa Hill, Mumbai, MH, IND, 400026
Talwalkars Lifestyles Ltd is an India based company is engaged in providing fitness services. It offers a range of services that include health solutions and fitness services such as Transform, Reduce, NuForm, Nutrition Counselling, Personal Training, Spa, Massage, Aerobics, Zumba, Gym, Yoga and Dietary Regimes, among others. Its Nuform offers electrical muscle stimulation (EMS)-based workout and Reduce offers diet-based weight reduction program.