Vrundavan Plantation (BOM:544011) Beneish M-Score: -2.03 (As of Jul. 13, 2026)

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BOM:544011 Vrundavan Plantation Ltd BOM:544011
38 GF Score
Price ₹33.50
GF Value ₹84.42
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Vrundavan Plantation Beneish M-Score?

Vrundavan Plantation BOM:544011 38 Beneish M-Score is -2.03 as of Jul. 13, 2026. GuruFocus rates BOM:544011 with a GF Score™ of 38/100 and a GF Value™ of ₹84.42 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,851 Consumer Packaged Goods companies, Vrundavan Plantation ranks worse than 77.47% 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 -2.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:544011' s Beneish M-Score Range Over the Past 10 Years
Min: -2.03   Med: -1.61   Max: -1.19
Current: -2.03

During the past 4 years, the highest Beneish M-Score of Vrundavan Plantation was -1.19. The lowest was -2.03. And the median was -1.61.

Vrundavan Plantation Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vrundavan Plantation'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.

Vrundavan Plantation Beneish M-Score Chart

Vrundavan Plantation Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.19 -2.03

Vrundavan Plantation Semi-Annual Data
Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -1.19 0.00 -2.03

BOM:544011 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Vrundavan Plantation'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.

Vrundavan Plantation Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Vrundavan Plantation's Beneish M-Score distribution charts can be found below:

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


BOM:544011
38GF Score
Vrundavan Plantation Ltd BOM:544011
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vrundavan Plantation 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 Vrundavan Plantation 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 * 0.6934+0.528 * 1.2973+0.404 * 0+0.892 * 1.6446+0.115 * 0.6119
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.084385-0.327 * 1.3512
=-2.03

* 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 ₹149.2 Mil.
Revenue was ₹419.5 Mil.
Gross Profit was ₹109.6 Mil.
Total Current Assets was ₹301.6 Mil.
Total Assets was ₹453.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹151.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹4.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹124.4 Mil.
Long-Term Debt & Capital Lease Obligation was ₹39.7 Mil.
Net Income was ₹17.7 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-20.5 Mil.
 Total Receivables was ₹130.8 Mil.
Revenue was ₹255.1 Mil.
Gross Profit was ₹86.4 Mil.
Total Current Assets was ₹253.0 Mil.
Total Assets was ₹325.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹64.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₹2.8 Mil.
Total Current Liabilities was ₹87.1 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.0 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)
=(149.178 / 419.495) / (130.814 / 255.077)
=0.355613 / 0.512841
=0.6934

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)
=(86.439 / 255.077) / (109.574 / 419.495)
=0.338874 / 0.261205
=1.2973

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 - (301.616 + 151.879) / 453.495) / (1 - (252.986 + 64.638) / 325.279)
=0 / 0.023534
=0

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
=419.495 / 255.077
=1.6446

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))
=(1.023 / (1.023 + 64.638)) / (3.968 / (3.968 + 151.879))
=0.01558 / 0.025461
=0.6119

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 / 419.495) / (2.789 / 255.077)
=0 / 0.010934
=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)
=((39.703 + 124.442) / 453.495) / ((0 + 87.135) / 325.279)
=0.361955 / 0.267878
=1.3512

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
=(17.739 - 0 - -20.529) / 453.495
=0.084385

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.

Vrundavan Plantation has a M-score of -2.03 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 -2.03 mean?
Vrundavan Plantation (BOM:544011) has a Beneish M-Score of -2.03 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vrundavan Plantation and its competitors. According to the industry distribution chart, Vrundavan Plantation ranks #1434 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 77.5%.
Is Vrundavan Plantation's Beneish M-Score too high?
Vrundavan Plantation's current Beneish M-Score is -2.03. Based on the distribution chart, Vrundavan Plantation ranks #1434 out of 1851 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Vrundavan Plantation has a GF Score™ of 38/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Vrundavan Plantation's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Vrundavan Plantation ranks #1434 out of 1851 companies for Beneish M-Score. This places Vrundavan Plantation 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Vrundavan Plantation and its competitors. Vrundavan Plantation's current Beneish M-Score is -2.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vrundavan Plantation stock overvalued right now?
Based on GuruFocus' analysis, Vrundavan Plantation (BOM:544011) is currently considered Possible Value Trap. The stock's GF Value™ is ₹84.42, compared to a current price of ₹33.50 — trading 60.3% below its estimated fair value. The current Beneish M-Score is -2.03. Vrundavan Plantation's overall GF Score™ is 38/100 with 6 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 Vrundavan Plantation (BOM:544011), the current Beneish M-Score is -2.03 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 Vrundavan Plantation (BOM:544011) Overvalued in 2026?

Based on GuruFocus' analysis, Vrundavan Plantation stock appears to be undervalued. The current stock price of ₹33.50 is trading 60.3% below its estimated GF Value™ of ₹84.42. GuruFocus considers Vrundavan Plantation to be Possible Value Trap.

Key valuation signals for BOM:544011:

  • Beneish M-Score: -2.03
  • GF Value™: ₹84.42 vs. price of ₹33.50 (60.3% below fair value)
  • GF Score™: 38/100 with 6 warning signs

No single metric tells the full story. See the BOM:544011 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Vrundavan Plantation Business Description

Address 307, Sun Avenue One, Near Sun Prima, Ambawadi NA, Ahemdabad, GJ, IND, 380006
Vrundavan Plantation Ltd is a company that sells plants and provides landscape maintenance services. The company's business includes landscape development and execution for government, semi-government, and municipalities. The company also offers horticulture, plantation, and landscape maintenance services for highways, factories, and residential and commercial complexes. Additionally, the company undertakes irrigation works, including micro irrigation design, procurement, installation, and maintenance. The company is also involved in the nursery business.
38GF Score

Get the complete analysis for BOM:544011

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

₹33.50
Price
₹84.42
GF Value