Karur Vysya Bank (BOM:590003) Beneish M-Score: -2.36 (As of Aug. 30, 2026)

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BOM:590003 Karur Vysya Bank Ltd BOM:590003
71 GF Score
Price ₹345.95
GF Value ₹257.63
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Karur Vysya Bank Beneish M-Score?

Karur Vysya Bank BOM:590003 -0.16% 71 Beneish M-Score is -2.36 as of Aug. 30, 2026. GuruFocus rates BOM:590003 with a GF Score™ of 71/100 and a GF Value™ of ₹257.63 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,391 Banks companies, Karur Vysya Bank ranks worse than 57.15% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Good Sign:

Beneish M-Score -2.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOM:590003' s Beneish M-Score Range Over the Past 10 Years
Min: -3.17   Med: -2.33   Max: -2.17
Current: -2.36

During the past 13 years, the highest Beneish M-Score of Karur Vysya Bank was -2.17. The lowest was -3.17. And the median was -2.33.

BOM:590003
71GF Score
Karur Vysya Bank Ltd BOM:590003
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Karur Vysya Bank 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 Karur Vysya Bank 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+0.528 * 1+0.404 * 1.0004+0.892 * 1.1533+0.115 * 0.932
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.022432-0.327 * 1.8831
=-2.36

* 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 ₹0 Mil.
Revenue was ₹70,229 Mil.
Gross Profit was ₹70,229 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹1,366,031 Mil.
Property, Plant and Equipment(Net PPE) was ₹5,016 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,270 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹26,226 Mil.
Net Income was ₹25,103 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-5,540 Mil.
 Total Receivables was ₹0 Mil.
Revenue was ₹60,895 Mil.
Gross Profit was ₹60,895 Mil.
Total Current Assets was ₹0 Mil.
Total Assets was ₹1,193,674 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,902 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,137 Mil.
Selling, General, & Admin. Expense(SGA) was ₹133 Mil.
Total Current Liabilities was ₹0 Mil.
Long-Term Debt & Capital Lease Obligation was ₹12,170 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)
=(0 / 70228.7) / (0 / 60894.7)
=0 / 0
=1

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)
=(60894.7 / 60894.7) / (70228.7 / 70228.7)
=1 / 1
=1

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 - (0 + 5016.2) / 1366030.9) / (1 - (0 + 4901.729) / 1193674.177)
=0.996328 / 0.995894
=1.0004

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
=70228.7 / 60894.7
=1.1533

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))
=(1137.3 / (1137.3 + 4901.729)) / (1270.2 / (1270.2 + 5016.2))
=0.188325 / 0.202055
=0.932

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 / 70228.7) / (132.966 / 60894.7)
=0 / 0.002184
=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)
=((26225.6 + 0) / 1366030.9) / ((12169.823 + 0) / 1193674.177)
=0.019198 / 0.010195
=1.8831

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
=(25103.3 - 0 - -5539.6) / 1366030.9
=0.022432

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.

Karur Vysya Bank has a M-score of -2.36 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.36 mean?
Karur Vysya Bank (BOM:590003) has a Beneish M-Score of -2.36 as of Aug. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Karur Vysya Bank and its competitors. According to the industry distribution chart, Karur Vysya Bank ranks #795 out of 1391 companies in the Banks industry, placing it in the top 57.2%.
Is Karur Vysya Bank's Beneish M-Score too high?
Karur Vysya Bank's current Beneish M-Score is -2.36. Based on the distribution chart, Karur Vysya Bank ranks #795 out of 1391 companies in the Banks industry, which is below the industry midpoint. Overall, Karur Vysya Bank has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Karur Vysya Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Karur Vysya Bank ranks #795 out of 1391 companies for Beneish M-Score. This places Karur Vysya Bank 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Karur Vysya Bank and its competitors. Karur Vysya Bank's current Beneish M-Score is -2.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Karur Vysya Bank stock overvalued right now?
Based on GuruFocus' analysis, Karur Vysya Bank (BOM:590003) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹257.63, compared to a current price of ₹345.95 — trading 34.3% above its estimated fair value. The current Beneish M-Score is -2.36. Karur Vysya Bank's overall GF Score™ is 71/100 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 Karur Vysya Bank (BOM:590003), the current Beneish M-Score is -2.36 as of Aug. 30, 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.

Is Karur Vysya Bank (BOM:590003) Overvalued in 2026?

Based on GuruFocus' analysis, Karur Vysya Bank stock appears to be overvalued. The current stock price of ₹345.95 is trading 34.3% above its estimated GF Value™ of ₹257.63. GuruFocus considers Karur Vysya Bank to be Significantly Overvalued.

Key valuation signals for BOM:590003:

  • Beneish M-Score: -2.36
  • GF Value™: ₹257.63 vs. price of ₹345.95 (34.3% above fair value)
  • GF Score™: 71/100 with 3 warning signs

No single metric tells the full story. See the BOM:590003 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Karur Vysya Bank Business Description

Other Exchanges KARURVYSYA:India
Address No. 20, Erode Road, Vadivel Nagar, L.N.S., Karur, TN, IND, 639002
Karur Vysya Bank Ltd is a provider of banking products and financial services headquartered in India. The bank's customers are both individuals and corporations, with individual customers generating the maximum amount of revenue for the bank. The company generates all of its revenue domestically through three main segments: Treasury operations, Corporate/Wholesale banking operations, Retail banking operations, and Others. Maximum revenue is derived from its Retail banking segment, which provides savings accounts, loans, deposits, insurance, and mutual funds. Geographically, the company operates only in India.
71GF Score

Get the complete analysis for BOM:590003

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

₹345.95
Price
₹257.63
GF Value