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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 -2.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Rangpur Dairy & Food Products's Beneish M-Score or its related term are showing as below:
DHA:RDFOOD'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.47 Max: 4.65
Current: -2.37
During the past 12 years, the highest Beneish M-Score of Rangpur Dairy & Food Products was 4.65. The lowest was -3.01. And the median was -2.47.
Rangpur Dairy & Food Products Beneish M-Score Related Terms
Rangpur Dairy & Food Products Beneish M-Score Historical Data
* 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.
DHA:RDFOOD vs KHC, GIS, HRL: Beneish M-Score Comparison
For the Packaged Foods subindustry, Rangpur Dairy & Food 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.
Rangpur Dairy & Food Products Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Rangpur Dairy & Food Products's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rangpur Dairy & Food Products's Beneish M-Score falls into.
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 Rangpur Dairy & Food 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 * 1.0906
+
0.528 * 1.3193
+
0.404 * 1.0599
+
0.892 * 1.0318
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4754
+
4.679 * -0.055266
-
0.327 * 1.0802
=
-2.37
* 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.
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.
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 / (0 + 1083.535))
/
(0 / (0 + 1134.784))
=
0
/
0
=
1
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
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
=
(-0.3 - 0
-
112.084)
/
2033.529
=
-0.055266
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.
Rangpur Dairy & Food Products has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
Rangpur Dairy & Food Products (DHA:RDFOOD) has a Beneish M-Score of -2.37 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rangpur Dairy & Food Products and its competitors. According to the industry distribution chart, Rangpur Dairy & Food Products ranks #1143 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 61.8%.
Is Rangpur Dairy & Food Products' Beneish M-Score too high?
Rangpur Dairy & Food Products' current Beneish M-Score is -2.37. Based on the distribution chart, Rangpur Dairy & Food Products ranks #1143 out of 1851 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Rangpur Dairy & Food Products has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Rangpur Dairy & Food Products' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Rangpur Dairy & Food Products ranks #1143 out of 1851 companies for Beneish M-Score. This places Rangpur Dairy & Food 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 Rangpur Dairy & Food Products and its competitors. Rangpur Dairy & Food Products's current Beneish M-Score is -2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rangpur Dairy & Food Products stock overvalued right now?
Based on GuruFocus' analysis, Rangpur Dairy & Food Products (DHA:RDFOOD) is currently considered Fairly Valued. The stock's GF Value™ is BDT27.23, compared to a current price of BDT27.90 — trading 2.5% above its estimated fair value. The current Beneish M-Score is -2.37. Rangpur Dairy & Food Products' overall GF Score™ is 80/100 with 6 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 Rangpur Dairy & Food Products (DHA:RDFOOD), the current Beneish M-Score is -2.37 as of Jul. 20, 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 Rangpur Dairy & Food Products (DHA:RDFOOD) Overvalued in 2026?
Based on GuruFocus' analysis, Rangpur Dairy & Food Products stock appears to be overvalued.
The current stock price of BDT27.90 is trading 2.5% above its estimated GF Value™ of BDT27.23.
GuruFocus considers Rangpur Dairy & Food Products to be Fairly Valued.
Key valuation signals for DHA:RDFOOD:
Beneish M-Score: -2.37
GF Value™: BDT27.23 vs. price of BDT27.90 (2.5% above fair value)
No single metric tells the full story. See the DHA:RDFOOD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rangpur Dairy & Food Products Business Description
Rangpur Dairy & Food Products Ltd is engaged in the manufacturing of pasteurized and flavored milk, ghee, butter, mango drinks, fried dal, special toast biscuits, laccha semai, potato chips, jhal muri, and different types of candy and milk products.
80GF Score
Get the complete analysis for DHA:RDFOOD
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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