Boss Packaging Solutions (NSE:BOSS) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


NSE:BOSS Boss Packaging Solutions Ltd NSE:BOSS
22 GF Score
Price ₹35.30
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What is Boss Packaging Solutions Beneish M-Score?

Boss Packaging Solutions NSE:BOSS 22 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates NSE:BOSS with a GF Score™ of 22/100.

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 Boss Packaging Solutions's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Boss Packaging Solutions was 0.00. The lowest was 0.00. And the median was 0.00.

Boss Packaging Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Boss Packaging Solutions'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.

Boss Packaging Solutions Beneish M-Score Chart

Boss Packaging Solutions Annual Data
Trend Mar22 Mar23 Mar24
Beneish M-Score
0.00 0.00 -0.44

Boss Packaging Solutions Semi-Annual Data
Mar22 Mar23 Mar24
Beneish M-Score 0.00 0.00 -0.44

NSE:BOSS vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Boss Packaging Solutions'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.

Boss Packaging Solutions Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Boss Packaging Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Boss Packaging Solutions's Beneish M-Score falls into.


NSE:BOSS
22GF Score
Boss Packaging Solutions Ltd NSE:BOSS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Boss Packaging Solutions 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 Boss Packaging Solutions 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 * 0.7587+0.528 * 1.2054+0.404 * 0.7409+0.892 * 1.1775+0.115 * 0.997
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.796+4.679 * 0.417113-0.327 * 0.6559
=-0.44

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was ₹28.1 Mil.
Revenue was ₹121.7 Mil.
Gross Profit was ₹23.4 Mil.
Total Current Assets was ₹75.2 Mil.
Total Assets was ₹76.6 Mil.
Property, Plant and Equipment(Net PPE) was ₹1.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.2 Mil.
Total Current Liabilities was ₹28.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3.1 Mil.
Net Income was ₹10.1 Mil.
Gross Profit was ₹0.0 Mil.
Cash Flow from Operations was ₹-21.9 Mil.
 Total Receivables was ₹31.5 Mil.
Revenue was ₹103.4 Mil.
Gross Profit was ₹24.0 Mil.
Total Current Assets was ₹52.2 Mil.
Total Assets was ₹53.6 Mil.
Property, Plant and Equipment(Net PPE) was ₹1.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1.3 Mil.
Total Current Liabilities was ₹33.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.1 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)
=(28.124 / 121.744) / (31.48 / 103.389)
=0.231009 / 0.304481
=0.7587

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)
=(23.956 / 103.389) / (23.403 / 121.744)
=0.231707 / 0.192231
=1.2054

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 - (75.152 + 1.313) / 76.61) / (1 - (52.189 + 1.286) / 53.612)
=0.001893 / 0.002555
=0.7409

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
=121.744 / 103.389
=1.1775

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))
=(0.513 / (0.513 + 1.286)) / (0.526 / (0.526 + 1.313))
=0.285158 / 0.286025
=0.997

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)
=(1.241 / 121.744) / (1.324 / 103.389)
=0.010194 / 0.012806
=0.796

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)
=((3.062 + 28.252) / 76.61) / ((0.077 + 33.331) / 53.612)
=0.408746 / 0.623144
=0.6559

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
=(10.104 - 0 - -21.851) / 76.61
=0.417113

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.

Boss Packaging Solutions has a M-score of -0.44 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?
Boss Packaging Solutions (NSE:BOSS) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Boss Packaging Solutions and its competitors.
Is Boss Packaging Solutions' Beneish M-Score too high?
Boss Packaging Solutions' current Beneish M-Score is 0.00. Overall, Boss Packaging Solutions has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Boss Packaging Solutions' Beneish M-Score compare to GEV and ETN?
Boss Packaging Solutions' Beneish M-Score of 0.00 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Boss Packaging Solutions and its competitors. Boss Packaging Solutions'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 Boss Packaging Solutions stock overvalued right now?
Boss Packaging Solutions (NSE:BOSS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Boss Packaging Solutions' overall GF Score™ is 22/100. 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 Boss Packaging Solutions (NSE:BOSS), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Boss Packaging Solutions Business Description

Address Vin Zol Road, Opposite Ramol Mehmdabad Highway, 11-C, Survey No. 56/1/2/3, Ramdev Estate, Near Siddipura Estate, Ahmedabad, GJ, IND, 382445
Boss Packaging Solutions Ltd is a manufacturer, supplier and exporter of diversified packaging machines, self-adhesive sticker labelling machines, conveyors, turn tables, web sealers, electric tunnels, etc. its products find application in various end-use industries including edible oil, lubricants, chemicals, cosmetics, homecare, pharmaceuticals, viscous liquid, juices and dairy, agriculture and pesticides, food and ancillaries, cosmetic and toiletries, and distilleries and breweries.
22GF Score

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

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