Neopolitan Pizza and Foods (BOM:544269) Beneish M-Score: -1.55 (As of Aug. 19, 2026)

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BOM:544269 Neopolitan Pizza and Foods Ltd BOM:544269
14 GF Score
Price ₹6.80
! 4 Warning Signs
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What is Neopolitan Pizza and Foods Beneish M-Score?

Neopolitan Pizza and Foods BOM:544269 14 Beneish M-Score is -1.55 as of Aug. 19, 2026. GuruFocus rates BOM:544269 with a GF Score™ of 14/100. The stock has 4 warning signs investors should review. Among 295 Retail - Defensive companies, Neopolitan Pizza and Foods ranks worse than 88.14% 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 -1.55 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544269' s Beneish M-Score Range Over the Past 10 Years
Min: -1.55   Med: -0.59   Max: 1.19
Current: -1.55

During the past 5 years, the highest Beneish M-Score of Neopolitan Pizza and Foods was 1.19. The lowest was -1.55. And the median was -0.59.


Neopolitan Pizza and Foods Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Neopolitan Pizza and Foods'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.

Neopolitan Pizza and Foods Beneish M-Score Chart

Neopolitan Pizza and Foods Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 1.19 -0.59 -1.55

Neopolitan Pizza and Foods Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 1.19 0.00 -0.59 0.00 -1.55

BOM:544269 vs SYY, USFD, PFGC: Beneish M-Score Comparison

For the Food Distribution subindustry, Neopolitan Pizza and Foods'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.


Neopolitan Pizza and Foods Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Neopolitan Pizza and Foods's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Neopolitan Pizza and Foods's Beneish M-Score falls into.


BOM:544269
14GF Score
Neopolitan Pizza and Foods Ltd BOM:544269
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Neopolitan Pizza and Foods 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 Neopolitan Pizza and Foods 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 * 1.7395+0.528 * 0.5371+0.404 * 1.2493+0.892 * 0.5772+0.115 * 1.119
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.071372-0.327 * 0.2361
=-1.55

* 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 ₹136.8 Mil.
Revenue was ₹295.3 Mil.
Gross Profit was ₹26.7 Mil.
Total Current Assets was ₹217.2 Mil.
Total Assets was ₹305.2 Mil.
Property, Plant and Equipment(Net PPE) was ₹49.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹13.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹4.3 Mil.
Net Income was ₹2.0 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-19.7 Mil.
Total Receivables was ₹136.2 Mil.
Revenue was ₹511.6 Mil.
Gross Profit was ₹24.9 Mil.
Total Current Assets was ₹295.8 Mil.
Total Assets was ₹381.9 Mil.
Property, Plant and Equipment(Net PPE) was ₹47.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2.8 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3.4 Mil.
Total Current Liabilities was ₹90.5 Mil.
Long-Term Debt & Capital Lease Obligation was ₹5.7 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)
=(136.787 / 295.268) / (136.234 / 511.555)
=0.463264 / 0.266313
=1.7395

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)
=(24.889 / 511.555) / (26.746 / 295.268)
=0.048654 / 0.090582
=0.5371

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 - (217.2 + 49.042) / 305.218) / (1 - (295.816 + 47.073) / 381.928)
=0.127699 / 0.102216
=1.2493

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
=295.268 / 511.555
=0.5772

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))
=(2.782 / (2.782 + 47.073)) / (2.574 / (2.574 + 49.042))
=0.055802 / 0.049868
=1.119

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 / 295.268) / (3.363 / 511.555)
=0 / 0.006574
=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)
=((4.25 + 13.89) / 305.218) / ((5.665 + 90.475) / 381.928)
=0.059433 / 0.251723
=0.2361

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
=(2.039 - 0 - -19.745) / 305.218
=0.071372

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.

Neopolitan Pizza and Foods has a M-score of -1.55 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 -1.55 mean?
Neopolitan Pizza and Foods (BOM:544269) has a Beneish M-Score of -1.55 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Neopolitan Pizza and Foods and its competitors. According to the industry distribution chart, Neopolitan Pizza and Foods ranks #260 out of 295 companies in the Retail - Defensive industry, placing it in the top 88.1%.
Is Neopolitan Pizza and Foods' Beneish M-Score too high?
Neopolitan Pizza and Foods' current Beneish M-Score is -1.55. Based on the distribution chart, Neopolitan Pizza and Foods ranks #260 out of 295 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Neopolitan Pizza and Foods has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Neopolitan Pizza and Foods' Beneish M-Score compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Neopolitan Pizza and Foods ranks #260 out of 295 companies for Beneish M-Score. This places Neopolitan Pizza and Foods 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Neopolitan Pizza and Foods and its competitors. Neopolitan Pizza and Foods's current Beneish M-Score is -1.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Neopolitan Pizza and Foods stock overvalued right now?
Neopolitan Pizza and Foods (BOM:544269) has a current Beneish M-Score of -1.55. The current Beneish M-Score is -1.55. Neopolitan Pizza and Foods' overall GF Score™ is 14/100 with 4 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 Neopolitan Pizza and Foods (BOM:544269), the current Beneish M-Score is -1.55 as of Aug. 19, 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.

Neopolitan Pizza and Foods Business Description

Address Vasana Bhayali Road, 434 & 435 SWC Hub, Opposite Rajpath Complex, Vadodara, GJ, IND, 391410
Neopolitan Pizza and Foods Ltd operates in two segments: the Quick Service Restaurant (QSR) business and the Agricultural Commodities Trading business. In the restaurant business, the company owns and operates its restaurants and operates through a franchise model. The company offers Neopolitan-style pizza, which is a traditional Italian pizza made with fresh ingredients. The menu includes a variety of toppings, and the company offers gluten-free and vegetarian options. In trading of agricultural commodities, the company trades Cereals, Pulses & Grains & Fruits and Vegetables. It generates the majority of revenue from the Agricultural Commodities Trading segment, which operates as a B2B model, trading commodities like wheat, rice, fruits, and vegetables on a wholesale basis.
14GF Score

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