Leo Dryfruits & Spices Trading (BOM:544329) Beneish M-Score: -0.48 (As of Jul. 29, 2026)

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BOM:544329 Leo Dryfruits & Spices Trading Ltd BOM:544329
16 GF Score
Price ₹51.55
! 4 Warning Signs
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What is Leo Dryfruits & Spices Trading Beneish M-Score?

Leo Dryfruits & Spices Trading BOM:544329 -1.81% 16 Beneish M-Score is -0.48 as of Jul. 29, 2026. GuruFocus rates BOM:544329 with a GF Score™ of 16/100. The stock has 4 warning signs investors should review. Among 1,853 Consumer Packaged Goods companies, Leo Dryfruits & Spices Trading ranks worse than 93.74% 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 -0.48 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Leo Dryfruits & Spices Trading's Beneish M-Score or its related term are showing as below:

BOM:544329' s Beneish M-Score Range Over the Past 10 Years
Min: -0.48   Med: 0.4   Max: 16.99
Current: -0.48

During the past 5 years, the highest Beneish M-Score of Leo Dryfruits & Spices Trading was 16.99. The lowest was -0.48. And the median was 0.40.

Leo Dryfruits & Spices Trading Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Leo Dryfruits & Spices Trading'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.

Leo Dryfruits & Spices Trading Beneish M-Score Chart

Leo Dryfruits & Spices Trading Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.40 16.99 -0.48

Leo Dryfruits & Spices Trading Semi-Annual Data
Mar22 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.40 0.00 16.99 0.00 -0.48

BOM:544329 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Leo Dryfruits & Spices Trading'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.

Leo Dryfruits & Spices Trading Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Leo Dryfruits & Spices Trading's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Leo Dryfruits & Spices Trading's Beneish M-Score falls into.


BOM:544329
16GF Score
Leo Dryfruits & Spices Trading Ltd BOM:544329
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Leo Dryfruits & Spices Trading 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 Leo Dryfruits & Spices Trading 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 * 0.542+0.528 * 1.3554+0.404 * 2.6309+0.892 * 1.9956+0.115 * 1.0757
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.114929-0.327 * 1.0864
=-0.48

* 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 ₹784 Mil.
Revenue was ₹1,742 Mil.
Gross Profit was ₹302 Mil.
Total Current Assets was ₹1,357 Mil.
Total Assets was ₹1,475 Mil.
Property, Plant and Equipment(Net PPE) was ₹88 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹10 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹699 Mil.
Long-Term Debt & Capital Lease Obligation was ₹33 Mil.
Net Income was ₹105 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-64 Mil.
 Total Receivables was ₹725 Mil.
Revenue was ₹873 Mil.
Gross Profit was ₹205 Mil.
Total Current Assets was ₹1,124 Mil.
Total Assets was ₹1,174 Mil.
Property, Plant and Equipment(Net PPE) was ₹41 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10 Mil.
Total Current Liabilities was ₹506 Mil.
Long-Term Debt & Capital Lease Obligation was ₹30 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)
=(784.364 / 1742.41) / (725.186 / 873.105)
=0.45016 / 0.830583
=0.542

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)
=(205.368 / 873.105) / (302.381 / 1742.41)
=0.235216 / 0.173542
=1.3554

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 - (1356.971 + 87.564) / 1475.127) / (1 - (1124.057 + 40.92) / 1174.234)
=0.020739 / 0.007883
=2.6309

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
=1742.41 / 873.105
=1.9956

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))
=(5.154 / (5.154 + 40.92)) / (10.163 / (10.163 + 87.564))
=0.111864 / 0.103994
=1.0757

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 / 1742.41) / (10.421 / 873.105)
=0 / 0.011936
=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)
=((32.983 + 698.81) / 1475.127) / ((29.954 + 506.227) / 1174.234)
=0.496088 / 0.456622
=1.0864

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
=(105.387 - 0 - -64.148) / 1475.127
=0.114929

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.

Leo Dryfruits & Spices Trading has a M-score of -0.48 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 -0.48 mean?
Leo Dryfruits & Spices Trading (BOM:544329) has a Beneish M-Score of -0.48 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Leo Dryfruits & Spices Trading and its competitors. According to the industry distribution chart, Leo Dryfruits & Spices Trading ranks #1737 out of 1853 companies in the Consumer Packaged Goods industry, placing it in the top 93.7%.
Is Leo Dryfruits & Spices Trading's Beneish M-Score too high?
Leo Dryfruits & Spices Trading's current Beneish M-Score is -0.48. Based on the distribution chart, Leo Dryfruits & Spices Trading ranks #1737 out of 1853 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Leo Dryfruits & Spices Trading has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Leo Dryfruits & Spices Trading's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Leo Dryfruits & Spices Trading ranks #1737 out of 1853 companies for Beneish M-Score. This places Leo Dryfruits & Spices Trading 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 Leo Dryfruits & Spices Trading and its competitors. Leo Dryfruits & Spices Trading's current Beneish M-Score is -0.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Leo Dryfruits & Spices Trading stock overvalued right now?
Leo Dryfruits & Spices Trading (BOM:544329) has a current Beneish M-Score of -0.48. The current Beneish M-Score is -0.48. Leo Dryfruits & Spices Trading's overall GF Score™ is 16/100 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 Leo Dryfruits & Spices Trading (BOM:544329), the current Beneish M-Score is -0.48 as of Jul. 29, 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.

Leo Dryfruits & Spices Trading Business Description

Address Thane Belapur Road, A 812, MIDC Khairane, TTC Industrial Area, Koperkhairane, Thane, MH, IND, 400705
Leo Dryfruits & Spices Trading Ltd is engaged in manufacturing/processing, trading and marketing of spices, dry fruits and other grocery products under the brand name VANDU and frozen/semi fried products under the brand name of FRYD. It is currently engaged in supplying of various whole spices and blended spices under spices category, plain, roasted and flavored dry fruits under dry fruits category and ghee, various type of seasoning, chiz bites, poppy seeds, sesame seeds and many more under other grocery products category in different packaging sizes. The Company is having only one segment that is Trading & Processing of Dry Fruits & Spice.
16GF Score

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

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