Jubilee Life Insurance Co (KAR:JLICL) Beneish M-Score: -2.20 (As of Jun. 29, 2026)


KAR:JLICL Jubilee Life Insurance Co Ltd KAR:JLICL
70 GF Score
Price ₨176.88
GF Value ₨155.90
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Jubilee Life Insurance Co Beneish M-Score?

Jubilee Life Insurance Co KAR:JLICL 70 Beneish M-Score is -2.20 as of Jun. 29, 2026. GuruFocus rates KAR:JLICL with a GF Score™ of 70/100 and a GF Value™ of ₨155.90 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 402 Insurance companies, Jubilee Life Insurance Co ranks worse than 76.62% 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 -2.2 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Jubilee Life Insurance Co's Beneish M-Score or its related term are showing as below:

KAR:JLICL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21   Med: -2.11   Max: -1.42
Current: -2.2

During the past 13 years, the highest Beneish M-Score of Jubilee Life Insurance Co was -1.42. The lowest was -3.21. And the median was -2.11.

KAR:JLICL
70GF Score
Jubilee Life Insurance Co Ltd KAR:JLICL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Jubilee Life Insurance Co 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 Jubilee Life Insurance Co 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 * 1.1349+0.528 * 1+0.404 * 1.001+0.892 * 0.8923+0.115 * 0.9138
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2573+4.679 * 0.042114-0.327 * 0.6675
=-2.20

* 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 ₨5,052 Mil.
Revenue was 11670.457 + 23444.714 + 31838.787 + 22253.545 = ₨89,208 Mil.
Gross Profit was 11670.457 + 23444.714 + 31838.787 + 22253.545 = ₨89,208 Mil.
Total Current Assets was ₨0 Mil.
Total Assets was ₨255,981 Mil.
Property, Plant and Equipment(Net PPE) was ₨4,467 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨684 Mil.
Selling, General, & Admin. Expense(SGA) was ₨5,026 Mil.
Total Current Liabilities was ₨0 Mil.
Long-Term Debt & Capital Lease Obligation was ₨707 Mil.
Net Income was 311.122 + 639.828 + 582.496 + 879.63 = ₨2,413 Mil.
Non Operating Income was 0 + 242.68 + 0 + 0 = ₨243 Mil.
Cash Flow from Operations was -4121.69 + -1168.152 + 393.59 + -3713.841 = ₨-8,610 Mil.
 Total Receivables was ₨4,988 Mil.
Revenue was 19323.412 + 31027.063 + 28485.281 + 21135.09 = ₨99,971 Mil.
Gross Profit was 19323.412 + 31027.063 + 28485.281 + 21135.09 = ₨99,971 Mil.
Total Current Assets was ₨0 Mil.
Total Assets was ₨237,145 Mil.
Property, Plant and Equipment(Net PPE) was ₨4,360 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨602 Mil.
Selling, General, & Admin. Expense(SGA) was ₨4,480 Mil.
Total Current Liabilities was ₨0 Mil.
Long-Term Debt & Capital Lease Obligation was ₨982 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)
=(5051.63 / 89207.503) / (4988.149 / 99970.846)
=0.056628 / 0.049896
=1.1349

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)
=(99970.846 / 99970.846) / (89207.503 / 89207.503)
=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 + 4466.876) / 255981.142) / (1 - (0 + 4359.653) / 237145.252)
=0.98255 / 0.981616
=1.001

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
=89207.503 / 99970.846
=0.8923

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))
=(601.864 / (601.864 + 4359.653)) / (683.763 / (683.763 + 4466.876))
=0.121306 / 0.132753
=0.9138

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)
=(5026.391 / 89207.503) / (4480.115 / 99970.846)
=0.056345 / 0.044814
=1.2573

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)
=((707.467 + 0) / 255981.142) / ((982.05 + 0) / 237145.252)
=0.002764 / 0.004141
=0.6675

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
=(2413.076 - 242.68 - -8610.093) / 255981.142
=0.042114

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.

Jubilee Life Insurance Co has a M-score of -2.20 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 -2.20 mean?
Jubilee Life Insurance Co (KAR:JLICL) has a Beneish M-Score of -2.20 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jubilee Life Insurance Co and its competitors. According to the industry distribution chart, Jubilee Life Insurance Co ranks #308 out of 402 companies in the Insurance industry, placing it in the top 76.6%.
Is Jubilee Life Insurance Co's Beneish M-Score too high?
Jubilee Life Insurance Co's current Beneish M-Score is -2.20. Based on the distribution chart, Jubilee Life Insurance Co ranks #308 out of 402 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Jubilee Life Insurance Co has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Jubilee Life Insurance Co's Beneish M-Score compare to AFL and MET?
According to the Insurance industry distribution chart, Jubilee Life Insurance Co ranks #308 out of 402 companies for Beneish M-Score. This places Jubilee Life Insurance Co 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Jubilee Life Insurance Co and its competitors. Jubilee Life Insurance Co's current Beneish M-Score is -2.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jubilee Life Insurance Co stock overvalued right now?
Based on GuruFocus' analysis, Jubilee Life Insurance Co (KAR:JLICL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨155.90, compared to a current price of ₨176.88 — trading 13.5% above its estimated fair value. The current Beneish M-Score is -2.20. Jubilee Life Insurance Co's overall GF Score™ is 70/100 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 Jubilee Life Insurance Co (KAR:JLICL), the current Beneish M-Score is -2.20 as of Jun. 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.

Is Jubilee Life Insurance Co (KAR:JLICL) Overvalued in 2026?

Based on GuruFocus' analysis, Jubilee Life Insurance Co stock appears to be overvalued. The current stock price of ₨176.88 is trading 13.5% above its estimated GF Value™ of ₨155.90. GuruFocus considers Jubilee Life Insurance Co to be Modestly Overvalued.

Key valuation signals for KAR:JLICL:

  • Beneish M-Score: -2.20
  • GF Value™: ₨155.90 vs. price of ₨176.88 (13.5% above fair value)
  • GF Score™: 70/100 with 2 warning signs

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

Jubilee Life Insurance Co Business Description

Address M.T. Khan Road, 74/1- A, Lalazar, Jubilee Life Insurance Building, Karachi, SD, PAK, 74000
Jubilee Life Insurance Co Ltd is a company that provides life insurance services. It offers non-participating policies and operates through seven segments, including Individual Life Unit Linked, Conventional Business, Accident & Health Business, Overseas Group Life & Health Business, Individual Family Takaful, Group Family Takaful, and Accident & Health Family Takaful. The company generates of its revenue from the Individual Life Unit Linked segment. These policies are mainly regular premium unit-linked policies that are determined based on the underlying assets' value.
70GF Score

Get the complete analysis for KAR:JLICL

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

₨176.88
Price
₨155.90
GF Value