Bhavik Enterprises (BOM:544551) Beneish M-Score: 12.93 (As of Aug. 12, 2026)

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BOM:544551 Bhavik Enterprises Ltd BOM:544551
19 GF Score
Price ₹143.00
! 2 Warning Signs
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What is Bhavik Enterprises Beneish M-Score?

Bhavik Enterprises BOM:544551 19 Beneish M-Score is 12.93 as of Aug. 12, 2026. GuruFocus rates BOM:544551 with a GF Score™ of 19/100. The stock has 2 warning signs investors should review. Among 1,527 Chemicals companies, Bhavik Enterprises ranks worse than 99.35% 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 12.93 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544551' s Beneish M-Score Range Over the Past 10 Years
Min: -1.53   Med: -1.01   Max: 12.93
Current: 12.93

During the past 5 years, the highest Beneish M-Score of Bhavik Enterprises was 12.93. The lowest was -1.53. And the median was -1.01.

Bhavik Enterprises Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Bhavik Enterprises'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.

Bhavik Enterprises Beneish M-Score Chart

Bhavik Enterprises Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -1.53 -1.01 12.93

Bhavik Enterprises Semi-Annual Data
Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 -1.53 -1.01 12.93

BOM:544551 vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Bhavik Enterprises'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.

Bhavik Enterprises Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Bhavik Enterprises's Beneish M-Score distribution charts can be found below:

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


BOM:544551
19GF Score
Bhavik Enterprises Ltd BOM:544551
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bhavik Enterprises 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 Bhavik Enterprises 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 * 0.8423+0.528 * 0.4017+0.404 * 39.4948+0.892 * 1.1919+0.115 * 0.135
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.007851-0.327 * 0.6708
=12.93

* 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 ₹605 Mil.
Revenue was ₹6,284 Mil.
Gross Profit was ₹245 Mil.
Total Current Assets was ₹2,205 Mil.
Total Assets was ₹2,340 Mil.
Property, Plant and Equipment(Net PPE) was ₹11 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹679 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0 Mil.
Net Income was ₹136 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹154 Mil.
 Total Receivables was ₹603 Mil.
Revenue was ₹5,273 Mil.
Gross Profit was ₹83 Mil.
Total Current Assets was ₹1,613 Mil.
Total Assets was ₹1,732 Mil.
Property, Plant and Equipment(Net PPE) was ₹117 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10 Mil.
Total Current Liabilities was ₹750 Mil.
Long-Term Debt & Capital Lease Obligation was ₹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)
=(605.198 / 6284.379) / (602.857 / 5272.671)
=0.096302 / 0.114336
=0.8423

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)
=(82.642 / 5272.671) / (245.239 / 6284.379)
=0.015674 / 0.039024
=0.4017

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 - (2204.833 + 10.715) / 2339.745) / (1 - (1612.579 + 117.311) / 1732.218)
=0.053081 / 0.001344
=39.4948

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
=6284.379 / 5272.671
=1.1919

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))
=(2.028 / (2.028 + 117.311)) / (1.543 / (1.543 + 10.715))
=0.016994 / 0.125877
=0.135

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 / 6284.379) / (9.783 / 5272.671)
=0 / 0.001855
=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)
=((0 + 679.481) / 2339.745) / ((0 + 749.88) / 1732.218)
=0.290408 / 0.432902
=0.6708

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
=(135.641 - 0 - 154.01) / 2339.745
=-0.007851

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.

Bhavik Enterprises has a M-score of 12.93 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 12.93 mean?
Bhavik Enterprises (BOM:544551) has a Beneish M-Score of 12.93 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bhavik Enterprises and its competitors. According to the industry distribution chart, Bhavik Enterprises ranks #1517 out of 1527 companies in the Chemicals industry, placing it in the top 99.3%.
Is Bhavik Enterprises' Beneish M-Score too high?
Bhavik Enterprises' current Beneish M-Score is 12.93. Based on the distribution chart, Bhavik Enterprises ranks #1517 out of 1527 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Bhavik Enterprises has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Bhavik Enterprises' Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Bhavik Enterprises ranks #1517 out of 1527 companies for Beneish M-Score. This places Bhavik Enterprises 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Bhavik Enterprises and its competitors. Bhavik Enterprises's current Beneish M-Score is 12.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bhavik Enterprises stock overvalued right now?
Bhavik Enterprises (BOM:544551) has a current Beneish M-Score of 12.93. The current Beneish M-Score is 12.93. Bhavik Enterprises' overall GF Score™ is 19/100 with 2 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 Bhavik Enterprises (BOM:544551), the current Beneish M-Score is 12.93 as of Aug. 12, 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.

Bhavik Enterprises Business Description

Address S V Road, Office No. 1105, 11th Floor, DLH Park, Goregaon West, Malad, Mumbai, MH, IND, 400064
Bhavik Enterprises Ltd is engaged in trading polymers, mainly Polyethylene (PE) and Polypropylene (PP), used in industries such as packaging, infrastructure, and agriculture. Its product portfolio under PE includes LLDPE, LDPE, HDPE, and MLLDPE, and under PP includes Homo polymer, Impact Co-polymer, and Random Co-polymer. The Company follows a Stock & Sale business model, importing materials, storing them at warehouses and depots, and selling them to manufacturers of plastic products such as pipes, films, foam, woven sack bags, nonwoven fabric, pails, crates, houseware products, suitcases, and thin wall containers. The Company operates in one reportable segment, Wholesale Trading Business, providing a diverse product range to cater to a diversified clientele base.
19GF Score

Get the complete analysis for BOM:544551

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

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