Clara Industries (BOM:543435) Beneish M-Score: 38584.56 (As of Jul. 01, 2026) — 21435767% Above Median


BOM:543435 Clara Industries Ltd BOM:543435
65 GF Score
Price ₹34.80
GF Value ₹29.17
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Clara Industries Beneish M-Score?

Clara Industries BOM:543435 65 Beneish M-Score is 38584.56 as of Jul. 01, 2026, which is 21435767% above its 10-year median of 0.18. GuruFocus rates BOM:543435 with a GF Score™ of 65/100 and a GF Value™ of ₹29.17 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 370 Packaging & Containers companies, Clara Industries ranks worse than 100% 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.

Warning Sign:

Beneish M-Score 38584.56 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:543435' s Beneish M-Score Range Over the Past 10 Years
Min: -2.33   Med: 0.18   Max: 38584.56
Current: 38584.56

During the past 5 years, the highest Beneish M-Score of Clara Industries was 38584.56. The lowest was -2.33. And the median was 0.18.

Clara Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Clara 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.

Clara Industries Beneish M-Score Chart

Clara Industries Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.18 -2.33 38,584.56

Clara Industries Semi-Annual Data
Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.18 0.00 -2.33 0.00 38,584.56

BOM:543435 vs SW, PKG, IP: Beneish M-Score Comparison

For the Packaging & Containers subindustry, Clara 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.

Clara Industries Beneish M-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Clara Industries's Beneish M-Score distribution charts can be found below:

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


BOM:543435
65GF Score
Clara Industries Ltd BOM:543435
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Clara Industries 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 Clara 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 * 1.0727+0.528 * 1.1568+0.404 * 95510.5+0.892 * 1.2991+0.115 * 0.3168
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.127347-0.327 * 0.7115
=38,584.56

* 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 ₹106.6 Mil.
Revenue was ₹140.0 Mil.
Gross Profit was ₹37.5 Mil.
Total Current Assets was ₹420.7 Mil.
Total Assets was ₹627.7 Mil.
Property, Plant and Equipment(Net PPE) was ₹87.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹6.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹19.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1.4 Mil.
Net Income was ₹18.0 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-61.9 Mil.
 Total Receivables was ₹76.5 Mil.
Revenue was ₹107.8 Mil.
Gross Profit was ₹33.4 Mil.
Total Current Assets was ₹336.5 Mil.
Total Assets was ₹449.6 Mil.
Property, Plant and Equipment(Net PPE) was ₹113.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.3 Mil.
Total Current Liabilities was ₹19.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1.0 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)
=(106.562 / 140.027) / (76.469 / 107.789)
=0.76101 / 0.709432
=1.0727

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)
=(33.405 / 107.789) / (37.515 / 140.027)
=0.309911 / 0.267913
=1.1568

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 - (420.681 + 87.1) / 627.681) / (1 - (336.504 + 113.094) / 449.599)
=0.191021 / 2.0E-6
=95510.5

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
=140.027 / 107.789
=1.2991

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))
=(2.534 / (2.534 + 113.094)) / (6.473 / (6.473 + 87.1))
=0.021915 / 0.069176
=0.3168

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 / 140.027) / (0.291 / 107.789)
=0 / 0.0027
=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)
=((1.383 + 19.298) / 627.681) / ((0.96 + 19.86) / 449.599)
=0.032948 / 0.046308
=0.7115

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
=(18.005 - 0 - -61.928) / 627.681
=0.127347

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.

Clara Industries has a M-score of 38,584.56 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 38584.56 mean?
Clara Industries (BOM:543435) has a Beneish M-Score of 38584.56 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Clara Industries and its competitors. This is 21435767% above median its historical median of 0.18. According to the industry distribution chart, Clara Industries ranks #370 out of 370 companies in the Packaging & Containers industry.
Is Clara Industries' Beneish M-Score too high?
Clara Industries' current Beneish M-Score of 38584.56 is 21435767% above median its 10-year median of 0.18. Based on the distribution chart, Clara Industries ranks #370 out of 370 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, Clara Industries has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Clara Industries' Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Clara Industries ranks #370 out of 370 companies for Beneish M-Score. This places Clara 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 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 Clara Industries and its competitors. Clara Industries's current Beneish M-Score is 38584.56, which is 21435767% above median its own 10-year median of 0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clara Industries stock overvalued right now?
Based on GuruFocus' analysis, Clara Industries (BOM:543435) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹29.17, compared to a current price of ₹34.80 — trading 19.3% above its estimated fair value. The current Beneish M-Score is 38584.56, which is 21435767% above median its 10-year median of 0.18. Clara Industries' overall GF Score™ is 65/100 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 Clara Industries (BOM:543435), the current Beneish M-Score is 38584.56 as of Jul. 01, 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 Clara Industries (BOM:543435) Overvalued in 2026?

Based on GuruFocus' analysis, Clara Industries stock appears to be overvalued. The current stock price of ₹34.80 is trading 19.3% above its estimated GF Value™ of ₹29.17. GuruFocus considers Clara Industries to be Modestly Overvalued.

Key valuation signals for BOM:543435:

  • Beneish M-Score: 38584.56 (21435767% above median its 10-year median of 0.18)
  • GF Value™: ₹29.17 vs. price of ₹34.80 (19.3% above fair value)
  • GF Score™: 65/100 with 5 warning signs

No single metric tells the full story. See the BOM:543435 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Clara Industries Business Description

Address 127/1, Gram Simbhalka Junardar Paragna, Tehsil and District Saharanpur, Saharanpur, UP, IND, 247001
Clara Industries Ltd is engaged in the business of provide manufacturing of LDPE, HDPE, PP, BOPP, adhesive tapes and its related products & activities and manufacturers and traders of plastic bags, industrial packaging self adhesive tapes. printing and plain multilayered flexible packaging. manufacturer of pp plastic mats, twine and ropes.
65GF Score

Get the complete analysis for BOM:543435

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

₹34.80
Price
₹29.17
GF Value