Bio Medica Laboratories (NSE:BMLL) Beneish M-Score: 0.00 (As of Jun. 29, 2026)


NSE:BMLL Bio Medica Laboratories Ltd NSE:BMLL
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What is Bio Medica Laboratories Beneish M-Score?

Bio Medica Laboratories NSE:BMLL +0.49% 14 Beneish M-Score is 0.00 as of Jun. 29, 2026. GuruFocus rates NSE:BMLL with a GF Score™ of 14/100. The stock has 2 warning signs investors should review. Among 765 Medical Devices & Instruments companies, Bio Medica Laboratories ranks worse than 130718.82% 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.

The historical rank and industry rank for Bio Medica Laboratories's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Bio Medica Laboratories was 0.00. The lowest was 0.00. And the median was 0.00.

Bio Medica Laboratories Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Bio Medica Laboratories'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.

Bio Medica Laboratories Beneish M-Score Chart

Bio Medica Laboratories Annual Data
Trend Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 0.00

Bio Medica Laboratories Semi-Annual Data
Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 0.00

NSE:BMLL vs ISRG, BDX, MDLN: Beneish M-Score Comparison

For the Medical Instruments & Supplies subindustry, Bio Medica Laboratories'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.

Bio Medica Laboratories Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Bio Medica Laboratories's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bio Medica Laboratories's Beneish M-Score falls into.


NSE:BMLL
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Bio Medica Laboratories Ltd NSE:BMLL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bio Medica Laboratories 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 Bio Medica Laboratories 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 * 0.7008+0.528 * 1.0634+0.404 * 1.1218+0.892 * 2.5047+0.115 * 0.9501
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5379+4.679 * 0.344257-0.327 * 0.8283
=0.24

* 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 (Mar25) TTM:Last Year (Mar24) TTM:
Total Receivables was ₹41.0 Mil.
Revenue was ₹382.0 Mil.
Gross Profit was ₹179.3 Mil.
Total Current Assets was ₹310.9 Mil.
Total Assets was ₹391.2 Mil.
Property, Plant and Equipment(Net PPE) was ₹74.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹10.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.9 Mil.
Total Current Liabilities was ₹169.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₹67.6 Mil.
Net Income was ₹97.9 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-36.7 Mil.
 Total Receivables was ₹23.4 Mil.
Revenue was ₹152.5 Mil.
Gross Profit was ₹76.1 Mil.
Total Current Assets was ₹105.5 Mil.
Total Assets was ₹195.3 Mil.
Property, Plant and Equipment(Net PPE) was ₹87.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.5 Mil.
Total Current Liabilities was ₹65.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₹77.7 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)
=(41.002 / 381.952) / (23.359 / 152.494)
=0.107349 / 0.15318
=0.7008

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)
=(76.111 / 152.494) / (179.278 / 381.952)
=0.499108 / 0.469373
=1.0634

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 - (310.912 + 74.605) / 391.179) / (1 - (105.517 + 87.271) / 195.308)
=0.014474 / 0.012903
=1.1218

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
=381.952 / 152.494
=2.5047

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))
=(11.1 / (11.1 + 87.271)) / (10.054 / (10.054 + 74.605))
=0.112838 / 0.118759
=0.9501

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)
=(1.922 / 381.952) / (0.499 / 152.494)
=0.005032 / 0.003272
=1.5379

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)
=((67.648 + 169.943) / 391.179) / ((77.658 + 65.559) / 195.308)
=0.607372 / 0.733288
=0.8283

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
=(97.949 - 0 - -36.717) / 391.179
=0.344257

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.

Bio Medica Laboratories has a M-score of 0.24 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 0.00 mean?
Bio Medica Laboratories (NSE:BMLL) has a Beneish M-Score of 0.00 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bio Medica Laboratories and its competitors. According to the industry distribution chart, Bio Medica Laboratories ranks #999999 out of 765 companies in the Medical Devices & Instruments industry.
Is Bio Medica Laboratories' Beneish M-Score too high?
Bio Medica Laboratories' current Beneish M-Score is 0.00. Based on the distribution chart, Bio Medica Laboratories ranks #999999 out of 765 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Bio Medica Laboratories has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Bio Medica Laboratories' Beneish M-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Bio Medica Laboratories ranks #999999 out of 765 companies for Beneish M-Score. This places Bio Medica Laboratories 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Bio Medica Laboratories and its competitors. Bio Medica Laboratories's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bio Medica Laboratories stock overvalued right now?
Bio Medica Laboratories (NSE:BMLL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Bio Medica Laboratories' overall GF Score™ is 14/100 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 Bio Medica Laboratories (NSE:BMLL), the current Beneish M-Score is 0.00 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.

Bio Medica Laboratories Business Description

Address Sanwer Road, Plot No. 11B-11C, Sector-E, Industrial Area, Industrial Estate - Indore, Indore, MP, IND, 452015
Bio Medica Laboratories Ltd is engaged in the manufacturing of Pharmaceutical Parenteral Formulations. It manufactures generic drugs in the form of injectables namely Liquid Injections and Dry Powder Injections. These injectables are available in both single dose and multi dose forms, catering both human and veterinary needs. Its products address a wide range of medical needs and preferences. The majority of revenue is derived from the sales of Liquid injections. Geographically, it operates predominantly in India, and internationally, it exports to Afghanistan.
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