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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 -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Greenpanel Industries's Beneish M-Score or its related term are showing as below:
BOM:542857'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.03 Med: -2.5 Max: -2.25
Current: -2.5
During the past 9 years, the highest Beneish M-Score of Greenpanel Industries was -2.25. The lowest was -3.03. And the median was -2.50.
Greenpanel Industries Beneish M-Score Related Terms
Greenpanel Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Greenpanel Industries'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:542857 vs SSD, UFPI, BCC: Beneish M-Score Comparison
For the Lumber & Wood Production subindustry, Greenpanel Industries'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.
Greenpanel Industries Beneish M-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Greenpanel Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Greenpanel Industries'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 Greenpanel Industries 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 * 1.0605
+
0.528 * 0.9798
+
0.404 * 1.1352
+
0.892 * 1.0722
+
0.115 * 0.7152
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * -0.068538
-
0.327 * 0.9975
=
-2.50
* 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))
=
(774.2 / (774.2 + 15740.853))
/
(1012.927 / (1012.927 + 14442.049))
=
0.046878
/
0.065541
=
0.7152
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
=
(-291.278 - 0
-
1111.649)
/
20469.463
=
-0.068538
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.
Greenpanel Industries has a M-score of -2.50 suggests that the company is unlikely to be a manipulator.
Greenpanel Industries (BOM:542857) has a Beneish M-Score of -2.50 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Greenpanel Industries and its competitors. According to the industry distribution chart, Greenpanel Industries ranks #145 out of 272 companies in the Forest Products industry, placing it in the top 53.3%.
Is Greenpanel Industries' Beneish M-Score too high?
Greenpanel Industries' current Beneish M-Score is -2.50. Based on the distribution chart, Greenpanel Industries ranks #145 out of 272 companies in the Forest Products industry, which is below the industry midpoint. Overall, Greenpanel Industries has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Greenpanel Industries' Beneish M-Score compare to SSD and UFPI?
According to the Forest Products industry distribution chart, Greenpanel Industries ranks #145 out of 272 companies for Beneish M-Score. This places Greenpanel Industries 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 Forest Products company?
A good Beneish M-Score depends on the Forest 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 Greenpanel Industries and its competitors. Greenpanel Industries's current Beneish M-Score is -2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Greenpanel Industries stock overvalued right now?
Based on GuruFocus' analysis, Greenpanel Industries (BOM:542857) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹320.63, compared to a current price of ₹196.00 — trading 38.9% below its estimated fair value. The current Beneish M-Score is -2.50. Greenpanel Industries' overall GF Score™ is 82/100 with 5 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 Greenpanel Industries (BOM:542857), the current Beneish M-Score is -2.50 as of Jul. 13, 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 Greenpanel Industries (BOM:542857) Overvalued in 2026?
Based on GuruFocus' analysis, Greenpanel Industries stock appears to be undervalued.
The current stock price of ₹196.00 is trading 38.9% below its estimated GF Value™ of ₹320.63.
GuruFocus considers Greenpanel Industries to be Significantly Undervalued.
Key valuation signals for BOM:542857:
Beneish M-Score: -2.50
GF Value™: ₹320.63 vs. price of ₹196.00 (38.9% below fair value)
No single metric tells the full story. See the BOM:542857 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Greenpanel Industries Ltd is a manufacturer of wood panels. It offers products such as Medium Density Fibre Boards, Plywood, Block Boards, Veneers, Wood Floors, and Doors. The operating segment of the company includes Plywood and allied products, and Medium density fibreboards and allied products. The company generates maximum revenue from the medium-density fibreboards and allied products segment. Geographically, it derives a majority of its revenue from India. The company's manufacturing facilities are located in Rudrapur, Udham Singh Nagar district (Uttarakhand) and Srikalahasti, Tirupati district (Andhra Pradesh).
82GF Score
Get the complete analysis for BOM:542857
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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