Wahdat Poultry Farm (KAR:WAHDAT) Beneish M-Score: -1.63 (As of Jul. 18, 2026)

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KAR:WAHDAT Wahdat Poultry Farm Ltd KAR:WAHDAT
32 GF Score
Price ₨17.55
! 4 Warning Signs
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What is Wahdat Poultry Farm Beneish M-Score?

Wahdat Poultry Farm KAR:WAHDAT -2.23% 32 Beneish M-Score is -1.63 as of Jul. 18, 2026. GuruFocus rates KAR:WAHDAT with a GF Score™ of 32/100. The stock has 4 warning signs investors should review. Among 1,852 Consumer Packaged Goods companies, Wahdat Poultry Farm ranks worse than 85.91% 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 -1.63 higher than -1.78, which implies that the company might have manipulated its financial results.

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

KAR:WAHDAT' s Beneish M-Score Range Over the Past 10 Years
Min: -1.63   Med: -0.87   Max: -0.11
Current: -1.63

During the past 4 years, the highest Beneish M-Score of Wahdat Poultry Farm was -0.11. The lowest was -1.63. And the median was -0.87.

Wahdat Poultry Farm Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wahdat Poultry Farm'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.

Wahdat Poultry Farm Beneish M-Score Chart

Wahdat Poultry Farm Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 -0.11 -1.63

Wahdat Poultry Farm Semi-Annual Data
Jun22 Jun23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 -0.11 0.00 -1.63 0.00

KAR:WAHDAT vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Wahdat Poultry Farm'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.

Wahdat Poultry Farm Beneish M-Score vs Consumer Packaged Goods Industry

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

* The bar in red indicates where Wahdat Poultry Farm's Beneish M-Score falls into.


KAR:WAHDAT
32GF Score
Wahdat Poultry Farm Ltd KAR:WAHDAT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Wahdat Poultry Farm 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 Wahdat Poultry Farm 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 * 1.3086+0.528 * 0.9622+0.404 * 1.2766+0.892 * 1.1097+0.115 * 0.9453
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8975+4.679 * 0.074527-0.327 * 0.9438
=-1.63

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was ₨558 Mil.
Revenue was ₨2,791 Mil.
Gross Profit was ₨679 Mil.
Total Current Assets was ₨1,769 Mil.
Total Assets was ₨2,559 Mil.
Property, Plant and Equipment(Net PPE) was ₨735 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨42 Mil.
Selling, General, & Admin. Expense(SGA) was ₨209 Mil.
Total Current Liabilities was ₨887 Mil.
Long-Term Debt & Capital Lease Obligation was ₨128 Mil.
Net Income was ₨242 Mil.
Gross Profit was ₨0 Mil.
Cash Flow from Operations was ₨51 Mil.
 Total Receivables was ₨384 Mil.
Revenue was ₨2,516 Mil.
Gross Profit was ₨589 Mil.
Total Current Assets was ₨1,488 Mil.
Total Assets was ₨2,241 Mil.
Property, Plant and Equipment(Net PPE) was ₨715 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨38 Mil.
Selling, General, & Admin. Expense(SGA) was ₨210 Mil.
Total Current Liabilities was ₨876 Mil.
Long-Term Debt & Capital Lease Obligation was ₨66 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)
=(557.611 / 2791.38) / (384.007 / 2515.52)
=0.199762 / 0.152655
=1.3086

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)
=(588.736 / 2515.52) / (678.944 / 2791.38)
=0.234041 / 0.243229
=0.9622

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 - (1769.069 + 734.549) / 2559.064) / (1 - (1487.922 + 715.2) / 2241.161)
=0.021667 / 0.016973
=1.2766

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
=2791.38 / 2515.52
=1.1097

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))
=(38.448 / (38.448 + 715.2)) / (41.903 / (41.903 + 734.549))
=0.051016 / 0.053967
=0.9453

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)
=(208.744 / 2791.38) / (209.603 / 2515.52)
=0.074782 / 0.083324
=0.8975

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)
=((127.748 + 887.049) / 2559.064) / ((65.991 + 875.639) / 2241.161)
=0.39655 / 0.420153
=0.9438

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
=(241.86 - 0 - 51.14) / 2559.064
=0.074527

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.

Wahdat Poultry Farm has a M-score of -1.63 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 -1.63 mean?
Wahdat Poultry Farm (KAR:WAHDAT) has a Beneish M-Score of -1.63 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wahdat Poultry Farm and its competitors. According to the industry distribution chart, Wahdat Poultry Farm ranks #1591 out of 1852 companies in the Consumer Packaged Goods industry, placing it in the top 85.9%.
Is Wahdat Poultry Farm's Beneish M-Score too high?
Wahdat Poultry Farm's current Beneish M-Score is -1.63. Based on the distribution chart, Wahdat Poultry Farm ranks #1591 out of 1852 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Wahdat Poultry Farm has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Wahdat Poultry Farm's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Wahdat Poultry Farm ranks #1591 out of 1852 companies for Beneish M-Score. This places Wahdat Poultry Farm 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 Wahdat Poultry Farm and its competitors. Wahdat Poultry Farm's current Beneish M-Score is -1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wahdat Poultry Farm stock overvalued right now?
Wahdat Poultry Farm (KAR:WAHDAT) has a current Beneish M-Score of -1.63. The current Beneish M-Score is -1.63. Wahdat Poultry Farm's overall GF Score™ is 32/100 with 4 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 Wahdat Poultry Farm (KAR:WAHDAT), the current Beneish M-Score is -1.63 as of Jul. 18, 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.

Wahdat Poultry Farm Business Description

Address G-2, Shah Tower, E11/2, Islamabad, PAK
Wahdat Poultry Farm Ltd is engaged in the poultry layer farming, egg and feed processing, marketing, branding, distribution, buying and selling, export and import of their related products.
32GF Score

Get the complete analysis for KAR:WAHDAT

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

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