Stanbik Agro (BOM:544659) Beneish M-Score: -0.19 (As of Aug. 16, 2026)

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BOM:544659 Stanbik Agro Ltd BOM:544659
22 GF Score
Price ₹27.90
! 2 Warning Signs
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What is Stanbik Agro Beneish M-Score?

Stanbik Agro BOM:544659 22 Beneish M-Score is -0.19 as of Aug. 16, 2026. GuruFocus rates BOM:544659 with a GF Score™ of 22/100. The stock has 2 warning signs investors should review. Among 1,858 Consumer Packaged Goods companies, Stanbik Agro ranks worse than 94.35% 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 -0.19 higher than -1.78, which implies that the company might have manipulated its financial results.

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

BOM:544659' s Beneish M-Score Range Over the Past 10 Years
Min: -22.99   Med: -11.59   Max: -0.19
Current: -0.19

During the past 4 years, the highest Beneish M-Score of Stanbik Agro was -0.19. The lowest was -22.99. And the median was -11.59.

Stanbik Agro Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Stanbik Agro'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.

Stanbik Agro Beneish M-Score Chart

Stanbik Agro Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -22.99 -0.19

Stanbik Agro Semi-Annual Data
Mar23 Mar24 Mar25 Sep25 Mar26
Beneish M-Score 0.00 0.00 -22.99 0.00 -0.19

BOM:544659 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Stanbik Agro'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.

Stanbik Agro Beneish M-Score vs Consumer Packaged Goods Industry

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

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


BOM:544659
22GF Score
Stanbik Agro Ltd BOM:544659
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Stanbik Agro 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 Stanbik Agro 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 * 1.422+0.528 * 1.2953+0.404 * -0.0088+0.892 * 1.6366+0.115 * 0.9781
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.246723-0.327 * 0.202
=-0.19

* 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 ₹181.9 Mil.
Revenue was ₹859.0 Mil.
Gross Profit was ₹68.8 Mil.
Total Current Assets was ₹339.3 Mil.
Total Assets was ₹342.4 Mil.
Property, Plant and Equipment(Net PPE) was ₹3.2 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.0 Mil.
Total Current Liabilities was ₹7.1 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1.3 Mil.
Net Income was ₹43.6 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-40.9 Mil.
 Total Receivables was ₹78.1 Mil.
Revenue was ₹524.9 Mil.
Gross Profit was ₹54.5 Mil.
Total Current Assets was ₹187.4 Mil.
Total Assets was ₹190.5 Mil.
Property, Plant and Equipment(Net PPE) was ₹3.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.7 Mil.
Total Current Liabilities was ₹23.0 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)
=(181.85 / 858.951) / (78.144 / 524.851)
=0.211712 / 0.148888
=1.422

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)
=(54.45 / 524.851) / (68.797 / 858.951)
=0.103744 / 0.080094
=1.2953

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 - (339.25 + 3.167) / 342.416) / (1 - (187.439 + 3.015) / 190.519)
=-3.0E-6 / 0.000341
=-0.0088

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
=858.951 / 524.851
=1.6366

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))
=(0.314 / (0.314 + 3.015)) / (0.338 / (0.338 + 3.167))
=0.094323 / 0.096434
=0.9781

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 / 858.951) / (0.739 / 524.851)
=0 / 0.001408
=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)
=((1.274 + 7.072) / 342.416) / ((0 + 22.991) / 190.519)
=0.024374 / 0.120676
=0.202

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
=(43.625 - 0 - -40.857) / 342.416
=0.246723

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.

Stanbik Agro has a M-score of -0.19 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 -0.19 mean?
Stanbik Agro (BOM:544659) has a Beneish M-Score of -0.19 as of Aug. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Stanbik Agro and its competitors. According to the industry distribution chart, Stanbik Agro ranks #1753 out of 1858 companies in the Consumer Packaged Goods industry, placing it in the top 94.3%.
Is Stanbik Agro's Beneish M-Score too high?
Stanbik Agro's current Beneish M-Score is -0.19. Based on the distribution chart, Stanbik Agro ranks #1753 out of 1858 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Stanbik Agro has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Stanbik Agro's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Stanbik Agro ranks #1753 out of 1858 companies for Beneish M-Score. This places Stanbik Agro 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 Stanbik Agro and its competitors. Stanbik Agro's current Beneish M-Score is -0.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stanbik Agro stock overvalued right now?
Stanbik Agro (BOM:544659) has a current Beneish M-Score of -0.19. The current Beneish M-Score is -0.19. Stanbik Agro's overall GF Score™ is 22/100 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 Stanbik Agro (BOM:544659), the current Beneish M-Score is -0.19 as of Aug. 16, 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.

Stanbik Agro Business Description

Address 100 Feet Road, S A C, D 1106, Titanium City Centre, Near Sachin Tower, Ahmedabad, GJ, IND, 380015
Stanbik Agro Ltd is engaged in the business of contract farming, wholesaling and supplying of agricultural commodities. The company operates across three key business verticals: i) Contract Farming: involves agreements with farmers to cultivate crops such as sesame, cumin, and cotton, ii) Modern Retailing, supplying fresh fruits and vegetables directly to customers through modern retail channels, and iii) B2B Business, providing bulk agricultural commodities to wholesalers, traders, and other businesses through an integrated farmer network and B2B e-commerce platforms.. The company derives revenue from the Sale of agriculture products, mainly from the Agricultural Commodities Trading Sales.
22GF 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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