H R Hygiene Products (BOM:544848) Beneish M-Score: 0.00 (As of Aug. 29, 2026)

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BOM:544848 H R Hygiene Products Ltd BOM:544848
15 GF Score
Price ₹66.80
! 2 Warning Signs
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What is H R Hygiene Products Beneish M-Score?

H R Hygiene Products BOM:544848 -0.30% 15 Beneish M-Score is 0.00 as of Aug. 29, 2026. GuruFocus rates BOM:544848 with a GF Score™ of 15/100. The stock has 2 warning signs investors should review. Among 1,866 Consumer Packaged Goods companies, H R Hygiene Products ranks worse than 53590.51% 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.

The historical rank and industry rank for H R Hygiene Products's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of H R Hygiene Products was 0.00. The lowest was 0.00. And the median was 0.00.

H R Hygiene Products Beneish M-Score Historical Data

* Premium members only.

The historical data trend for H R Hygiene Products'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.

H R Hygiene Products Beneish M-Score Chart

H R Hygiene Products Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00 0.00

H R Hygiene Products Quarterly Data
Mar23 Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00

BOM:544848 vs : Beneish M-Score Comparison

For the Household & Personal Products subindustry, H R Hygiene Products'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.

H R Hygiene Products Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, H R Hygiene Products's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where H R Hygiene Products's Beneish M-Score falls into.


BOM:544848
15GF Score
H R Hygiene Products Ltd BOM:544848
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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H R Hygiene Products 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 H R Hygiene Products 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 * 1.8597+0.528 * 0.8798+0.404 * 0.4497+0.892 * 1.1404+0.115 * 1.013
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1665+4.679 * 0.057504-0.327 * 1.145
=-1.66

* 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 ₹1,048 Mil.
Revenue was ₹1,307 Mil.
Gross Profit was ₹289 Mil.
Total Current Assets was ₹1,642 Mil.
Total Assets was ₹1,709 Mil.
Property, Plant and Equipment(Net PPE) was ₹64 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹12 Mil.
Selling, General, & Admin. Expense(SGA) was ₹68 Mil.
Total Current Liabilities was ₹1,164 Mil.
Long-Term Debt & Capital Lease Obligation was ₹106 Mil.
Net Income was ₹114 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹16 Mil.
 Total Receivables was ₹494 Mil.
Revenue was ₹1,146 Mil.
Gross Profit was ₹223 Mil.
Total Current Assets was ₹830 Mil.
Total Assets was ₹906 Mil.
Property, Plant and Equipment(Net PPE) was ₹72 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹14 Mil.
Selling, General, & Admin. Expense(SGA) was ₹51 Mil.
Total Current Liabilities was ₹486 Mil.
Long-Term Debt & Capital Lease Obligation was ₹101 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)
=(1047.667 / 1307.209) / (493.995 / 1146.257)
=0.801453 / 0.430964
=1.8597

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)
=(223.108 / 1146.257) / (289.183 / 1307.209)
=0.19464 / 0.221222
=0.8798

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 - (1641.936 + 64.092) / 1709.222) / (1 - (830.313 + 71.554) / 905.631)
=0.001869 / 0.004156
=0.4497

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
=1307.209 / 1146.257
=1.1404

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))
=(13.552 / (13.552 + 71.554)) / (11.954 / (11.954 + 64.092))
=0.159237 / 0.157194
=1.013

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)
=(67.61 / 1307.209) / (50.822 / 1146.257)
=0.051721 / 0.044337
=1.1665

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)
=((105.865 + 1163.562) / 1709.222) / ((101.272 + 486.167) / 905.631)
=0.742693 / 0.648652
=1.145

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
=(114.066 - 0 - 15.779) / 1709.222
=0.057504

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.

H R Hygiene Products has a M-score of -1.66 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 0.00 mean?
H R Hygiene Products (BOM:544848) has a Beneish M-Score of 0.00 as of Aug. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on H R Hygiene Products and its competitors. According to the industry distribution chart, H R Hygiene Products ranks #999999 out of 1866 companies in the Consumer Packaged Goods industry.
Is H R Hygiene Products' Beneish M-Score too high?
H R Hygiene Products' current Beneish M-Score is 0.00. Based on the distribution chart, H R Hygiene Products ranks #999999 out of 1866 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, H R Hygiene Products has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does H R Hygiene Products' Beneish M-Score compare to ?
According to the Consumer Packaged Goods industry distribution chart, H R Hygiene Products ranks #999999 out of 1866 companies for Beneish M-Score. This places H R Hygiene Products 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 H R Hygiene Products and its competitors. H R Hygiene Products's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H R Hygiene Products stock overvalued right now?
H R Hygiene Products (BOM:544848) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. H R Hygiene Products' overall GF Score™ is 15/100 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 H R Hygiene Products (BOM:544848), the current Beneish M-Score is 0.00 as of Aug. 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.

H R Hygiene Products Business Description

Comparable Companies
Address Survey No.125/P2/P2 Plot no. 1 to 3, Village: Lothada, Rajkot, GJ, IND, 360002
H R Hygiene Products Ltd is engaged in manufacturing, processing, trading, importing, exporting or otherwise dealing of Sanitary Napkins and Medical Hygienic related products. Its product portfolio includes sanitary napkins and other female care, elderly hygiene, and baby care products, marketed under the Femiss, Womanica, ElderFit, and Bloom Baby brands. The company manufactures sanitary napkins on a white-label basis for customers. Its products are distributed across India through retail dealers and e-commerce platforms, serving both business-to-business (B2B) and business-to-consumer (B2C) customers. The majority of revenue is derived from the sale of Sanitary Napkins under its own brands, through offline distribution channels.
15GF 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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