BD Industries Pune (BOM:544468) Beneish M-Score: -0.83 (As of Aug. 05, 2026)

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BOM:544468 BD Industries Pune Ltd BOM:544468
18 GF Score
Price ₹109.40
! 3 Warning Signs
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What is BD Industries Pune Beneish M-Score?

BD Industries Pune BOM:544468 +0.60% 18 Beneish M-Score is -0.83 as of Aug. 05, 2026. GuruFocus rates BOM:544468 with a GF Score™ of 18/100. The stock has 3 warning signs investors should review. Among 538 Conglomerates companies, BD Industries Pune ranks worse than 94.8% 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 -0.83 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544468' s Beneish M-Score Range Over the Past 10 Years
Min: -1.94   Med: -1.73   Max: -0.83
Current: -0.83

During the past 5 years, the highest Beneish M-Score of BD Industries Pune was -0.83. The lowest was -1.94. And the median was -1.73.

BD Industries Pune Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BD Industries Pune'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.

BD Industries Pune Beneish M-Score Chart

BD Industries Pune Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.73 -1.94 -0.83

BD Industries Pune Semi-Annual Data
Mar22 Mar23 Mar24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial 0.00 -1.73 -1.94 0.00 -0.83

BOM:544468 vs MMM, HON: Beneish M-Score Comparison

For the Conglomerates subindustry, BD Industries Pune'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.

BD Industries Pune Beneish M-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, BD Industries Pune's Beneish M-Score distribution charts can be found below:

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


BOM:544468
18GF Score
BD Industries Pune Ltd BOM:544468
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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BD Industries Pune 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 BD Industries Pune 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 * 1.3848+0.528 * 1.0354+0.404 * 0.5979+0.892 * 1.2217+0.115 * 1.5911
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.181432-0.327 * 0.5457
=-0.83

* 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 ₹377 Mil.
Revenue was ₹1,006 Mil.
Gross Profit was ₹464 Mil.
Total Current Assets was ₹871 Mil.
Total Assets was ₹1,154 Mil.
Property, Plant and Equipment(Net PPE) was ₹264 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹26 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹427 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6 Mil.
Net Income was ₹96 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-114 Mil.
 Total Receivables was ₹223 Mil.
Revenue was ₹824 Mil.
Gross Profit was ₹393 Mil.
Total Current Assets was ₹556 Mil.
Total Assets was ₹689 Mil.
Property, Plant and Equipment(Net PPE) was ₹114 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹19 Mil.
Selling, General, & Admin. Expense(SGA) was ₹32 Mil.
Total Current Liabilities was ₹375 Mil.
Long-Term Debt & Capital Lease Obligation was ₹98 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)
=(376.706 / 1006.448) / (222.658 / 823.785)
=0.374293 / 0.270287
=1.3848

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)
=(393.452 / 823.785) / (464.269 / 1006.448)
=0.477615 / 0.461295
=1.0354

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 - (870.73 + 264.181) / 1154.314) / (1 - (555.547 + 114.109) / 689.028)
=0.016809 / 0.028115
=0.5979

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
=1006.448 / 823.785
=1.2217

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))
=(19.074 / (19.074 + 114.109)) / (26.131 / (26.131 + 264.181))
=0.143216 / 0.09001
=1.5911

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 / 1006.448) / (32.154 / 823.785)
=0 / 0.039032
=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)
=((5.659 + 426.713) / 1154.314) / ((98.29 + 374.649) / 689.028)
=0.374571 / 0.686386
=0.5457

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
=(95.558 - 0 - -113.871) / 1154.314
=0.181432

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.

BD Industries Pune has a M-score of -0.83 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 -0.83 mean?
BD Industries Pune (BOM:544468) has a Beneish M-Score of -0.83 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BD Industries Pune and its competitors. According to the industry distribution chart, BD Industries Pune ranks #510 out of 538 companies in the Conglomerates industry, placing it in the top 94.8%.
Is BD Industries Pune's Beneish M-Score too high?
BD Industries Pune's current Beneish M-Score is -0.83. Based on the distribution chart, BD Industries Pune ranks #510 out of 538 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, BD Industries Pune has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does BD Industries Pune's Beneish M-Score compare to MMM and HON?
According to the Conglomerates industry distribution chart, BD Industries Pune ranks #510 out of 538 companies for Beneish M-Score. This places BD Industries Pune 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 Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 BD Industries Pune and its competitors. BD Industries Pune's current Beneish M-Score is -0.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BD Industries Pune stock overvalued right now?
BD Industries Pune (BOM:544468) has a current Beneish M-Score of -0.83. The current Beneish M-Score is -0.83. BD Industries Pune's overall GF Score™ is 18/100 with 3 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 BD Industries Pune (BOM:544468), the current Beneish M-Score is -0.83 as of Aug. 05, 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.

BD Industries Pune Business Description

Address PL Lokhande Marg, G M Link Road, 15th Flr, 1501-B, Universal Majestic, Nr R B K International School, Chembur West, Mumbai, MH, IND, 400043
BD Industries Pune Ltd is engaged in the business of manufacturing and trading of Plastic Products for varied industries. Its key products include Plastic fuel tanks for off-road vehicles, urea tanks, fenders, hydraulic tanks, air ducts, mudguards, and cabin roofs. Beyond automotive, its rotomolded plastic products serve diverse industries, including road & highway safety, material handling & storage, water management & disposal, marine, renewable energy, healthcare, and custom moulding.
18GF 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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