B&B Triplewall Containers (NSE:BBTCL) Beneish M-Score: -2.32 (As of Jun. 28, 2026)


NSE:BBTCL B&B Triplewall Containers Ltd NSE:BBTCL
77 GF Score
Price ₹214.07
GF Value ₹340.21
Valuation Significantly Undervalued
! 7 Warning Signs
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What is B&B Triplewall Containers Beneish M-Score?

B&B Triplewall Containers NSE:BBTCL +1.42% 77 Beneish M-Score is -2.32 as of Jun. 28, 2026. GuruFocus rates NSE:BBTCL with a GF Score™ of 77/100 and a GF Value™ of ₹340.21 (Significantly Undervalued). The stock has 7 warning signs investors should review. Among 370 Packaging & Containers companies, B&B Triplewall Containers ranks worse than 70.54% 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.

Good Sign:

Beneish M-Score -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for B&B Triplewall Containers's Beneish M-Score or its related term are showing as below:

NSE:BBTCL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21   Med: -2.4   Max: -1.74
Current: -2.32

During the past 13 years, the highest Beneish M-Score of B&B Triplewall Containers was -1.74. The lowest was -3.21. And the median was -2.40.


B&B Triplewall Containers Beneish M-Score Historical Data

* Premium members only.

The historical data trend for B&B Triplewall Containers'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.

B&B Triplewall Containers Beneish M-Score Chart

B&B Triplewall Containers Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.74 -2.06 -2.87 -2.47 -2.32

B&B Triplewall Containers Quarterly Data
Mar21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.47 0.00 0.00 0.00 -2.32

NSE:BBTCL vs SW, PKG, AMCR: Beneish M-Score Comparison

For the Packaging & Containers subindustry, B&B Triplewall Containers'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.


B&B Triplewall Containers Beneish M-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, B&B Triplewall Containers's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where B&B Triplewall Containers's Beneish M-Score falls into.


NSE:BBTCL
77GF Score
B&B Triplewall Containers Ltd NSE:BBTCL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

B&B Triplewall Containers 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 B&B Triplewall Containers 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 * 0.9101+0.528 * 0.8283+0.404 * 1.5562+0.892 * 1.2534+0.115 * 0.6907
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.021141-0.327 * 0.9527
=-2.32

* 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 ₹1,002 Mil.
Revenue was ₹6,164 Mil.
Gross Profit was ₹2,448 Mil.
Total Current Assets was ₹2,156 Mil.
Total Assets was ₹4,394 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,144 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹426 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹1,861 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,220 Mil.
Net Income was ₹206 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹299 Mil.
Total Receivables was ₹878 Mil.
Revenue was ₹4,918 Mil.
Gross Profit was ₹1,618 Mil.
Total Current Assets was ₹1,765 Mil.
Total Assets was ₹4,230 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,407 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹311 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹1,746 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,367 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)
=(1001.528 / 6163.525) / (877.984 / 4917.592)
=0.162493 / 0.178539
=0.9101

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)
=(1617.585 / 4917.592) / (2447.631 / 6163.525)
=0.328938 / 0.397115
=0.8283

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 - (2155.783 + 2144.252) / 4393.793) / (1 - (1764.751 + 2407.432) / 4230.187)
=0.021339 / 0.013712
=1.5562

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
=6163.525 / 4917.592
=1.2534

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))
=(311.326 / (311.326 + 2407.432)) / (426.16 / (426.16 + 2144.252))
=0.11451 / 0.165794
=0.6907

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 / 6163.525) / (0 / 4917.592)
=0 / 0
=1

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)
=((1220.023 + 1860.564) / 4393.793) / ((1366.866 + 1746.297) / 4230.187)
=0.701122 / 0.73594
=0.9527

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
=(206.37 - 0 - 299.261) / 4393.793
=-0.021141

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.

B&B Triplewall Containers has a M-score of -2.32 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 -2.32 mean?
B&B Triplewall Containers (NSE:BBTCL) has a Beneish M-Score of -2.32 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on B&B Triplewall Containers and its competitors. According to the industry distribution chart, B&B Triplewall Containers ranks #261 out of 370 companies in the Packaging & Containers industry, placing it in the top 70.5%.
Is B&B Triplewall Containers' Beneish M-Score too high?
B&B Triplewall Containers' current Beneish M-Score is -2.32. Based on the distribution chart, B&B Triplewall Containers ranks #261 out of 370 companies in the Packaging & Containers industry, which is below the industry midpoint. Overall, B&B Triplewall Containers has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does B&B Triplewall Containers' Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, B&B Triplewall Containers ranks #261 out of 370 companies for Beneish M-Score. This places B&B Triplewall Containers 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 Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers 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 B&B Triplewall Containers and its competitors. B&B Triplewall Containers's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is B&B Triplewall Containers stock overvalued right now?
Based on GuruFocus' analysis, B&B Triplewall Containers (NSE:BBTCL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹340.21, compared to a current price of ₹214.07 — trading 37.1% below its estimated fair value. The current Beneish M-Score is -2.32. B&B Triplewall Containers' overall GF Score™ is 77/100 with 7 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 B&B Triplewall Containers (NSE:BBTCL), the current Beneish M-Score is -2.32 as of Jun. 28, 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 B&B Triplewall Containers (NSE:BBTCL) Overvalued in 2026?

Based on GuruFocus' analysis, B&B Triplewall Containers stock appears to be undervalued. The current stock price of ₹214.07 is trading 37.1% below its estimated GF Value™ of ₹340.21. GuruFocus considers B&B Triplewall Containers to be Significantly Undervalued.

Key valuation signals for NSE:BBTCL:

  • Beneish M-Score: -2.32
  • GF Value™: ₹340.21 vs. price of ₹214.07 (37.1% below fair value)
  • GF Score™: 77/100 with 7 warning signs

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


B&B Triplewall Containers Business Description

Other Exchanges 543668:India
Address 1090/N, Gayathri Towers, 18th Cross, First Floor, HSR Layout, Sector-3, Bangalore, KA, IND, 560102
B&B Triplewall Containers Ltd is engaged in the manufacturing of corrugated boxes and corrugated sheets. The company's product range includes Corrugated Boards, Corrugated Boxes, Corrugated Rolls, Corrugated Displays, and Custom Packaging. The company's product, corrugated boxes, is used by various industries like FMCG and E-commerce for packaging purposes. The company generates the majority of its revenue from the sale of products.
77GF Score

Get the complete analysis for NSE:BBTCL

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

₹214.07
Price
₹340.21
GF Value