Gopal SnacksNSE:GOPAL -0.90%34 Beneish M-Score is -1.92 as of Jun. 25, 2026. GuruFocus rates NSE:GOPAL with a GF Score™ of 34/100. The stock has 2 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Gopal Snacks ranks worse than 80.37% 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 -1.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Gopal Snacks's Beneish M-Score or its related term are showing as below:
NSE:GOPAL'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.07 Med: -2.27 Max: -1.21
Current: -1.92
During the past 6 years, the highest Beneish M-Score of Gopal Snacks was -1.21. The lowest was -3.07. And the median was -2.27.
Gopal Snacks Beneish M-Score Related Terms
Gopal Snacks Beneish M-Score Historical Data
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The historical data trend for Gopal Snacks'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.
For the Packaged Foods subindustry, Gopal Snacks'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.
Gopal Snacks Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Gopal Snacks's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gopal Snacks's Beneish M-Score falls into.
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 Gopal Snacks 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 * 1.4968
+
0.528 * 0.9236
+
0.404 * 0.7032
+
0.892 * 1.0287
+
0.115 * 1.1853
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.038077
-
0.327 * 1.4105
=
-1.92
* 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.
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.
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))
=
(331.95 / (331.95 + 2708.35))
/
(386.6 / (386.6 + 3810.32))
=
0.109183
/
0.092115
=
1.1853
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
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
=
(736.53 - 0
-
464.39)
/
7147.07
=
0.038077
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.
Gopal Snacks has a M-score of -1.92 suggests that the company is unlikely to be a manipulator.
Gopal Snacks (NSE:GOPAL) has a Beneish M-Score of -1.92 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gopal Snacks and its competitors. According to the industry distribution chart, Gopal Snacks ranks #1486 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 80.4%.
Is Gopal Snacks' Beneish M-Score too high?
Gopal Snacks' current Beneish M-Score is -1.92. Based on the distribution chart, Gopal Snacks ranks #1486 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Gopal Snacks has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Gopal Snacks' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Gopal Snacks ranks #1486 out of 1849 companies for Beneish M-Score. This places Gopal Snacks 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 Gopal Snacks and its competitors. Gopal Snacks's current Beneish M-Score is -1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gopal Snacks stock overvalued right now?
Gopal Snacks (NSE:GOPAL) has a current Beneish M-Score of -1.92. The current Beneish M-Score is -1.92. Gopal Snacks' overall GF Score™ is 34/100 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 Gopal Snacks (NSE:GOPAL), the current Beneish M-Score is -1.92 as of Jun. 25, 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.
Gopal Snacks Ltd is a fast-moving consumer goods company in India. The company offers a wide variety of savoury products under the brand 'Gopal', including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruded snacks, and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk, and soan papdi. The Company operates in the food products segment.
34GF Score
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