Lohia (NSE:LCL) Beneish M-Score: 0.00 (As of Aug. 31, 2026)

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NSE:LCL Lohia Corp Ltd NSE:LCL
18 GF Score
Price ₹565.10
! 1 Warning Sign
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What is Lohia Beneish M-Score?

Lohia NSE:LCL -0.16% 18 Beneish M-Score is 0.00 as of Aug. 31, 2026. GuruFocus rates NSE:LCL with a GF Score™ of 18/100. The stock has 1 warning sign investors should review. Among 2,930 Industrial Products companies, Lohia ranks worse than 34129.66% 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 Lohia's Beneish M-Score or its related term are showing as below:

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

Lohia Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Lohia'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.

Lohia Beneish M-Score Chart

Lohia Annual Data
Trend Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00

Lohia Semi-Annual Data
Mar24 Mar25 Mar26
Beneish M-Score 0.00 0.00 0.00

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

For the Specialty Industrial Machinery subindustry, Lohia'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.

Lohia Beneish M-Score vs Industrial Products Industry

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

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


NSE:LCL
18GF Score
Lohia Corp Ltd NSE:LCL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lohia 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 Lohia 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 * 0.8189+0.528 * 1.0083+0.404 * 0.8831+0.892 * 1.253+0.115 * 0.9363
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8675+4.679 * -0.101021-0.327 * 1.0199
=-2.93

* 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 ₹1,542 Mil.
Revenue was ₹16,905 Mil.
Gross Profit was ₹7,078 Mil.
Total Current Assets was ₹9,035 Mil.
Total Assets was ₹13,047 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,851 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹524 Mil.
Selling, General, & Admin. Expense(SGA) was ₹972 Mil.
Total Current Liabilities was ₹7,047 Mil.
Long-Term Debt & Capital Lease Obligation was ₹640 Mil.
Net Income was ₹1,934 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹3,252 Mil.
 Total Receivables was ₹1,503 Mil.
Revenue was ₹13,492 Mil.
Gross Profit was ₹5,696 Mil.
Total Current Assets was ₹5,514 Mil.
Total Assets was ₹9,676 Mil.
Property, Plant and Equipment(Net PPE) was ₹4,026 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹508 Mil.
Selling, General, & Admin. Expense(SGA) was ₹894 Mil.
Total Current Liabilities was ₹4,537 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,053 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)
=(1541.85 / 16905.23) / (1502.79 / 13492.23)
=0.091206 / 0.111382
=0.8189

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)
=(5695.78 / 13492.23) / (7077.88 / 16905.23)
=0.422153 / 0.41868
=1.0083

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 - (9034.54 + 3850.58) / 13046.55) / (1 - (5514.22 + 4026.21) / 9676)
=0.012373 / 0.014011
=0.8831

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
=16905.23 / 13492.23
=1.253

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))
=(508.33 / (508.33 + 4026.21)) / (523.71 / (523.71 + 3850.58))
=0.112102 / 0.119725
=0.9363

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)
=(972.11 / 16905.23) / (894.34 / 13492.23)
=0.057504 / 0.066286
=0.8675

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)
=((640.36 + 7046.72) / 13046.55) / ((1052.98 + 4536.85) / 9676)
=0.589204 / 0.5777
=1.0199

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
=(1933.63 - 0 - 3251.61) / 13046.55
=-0.101021

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.

Lohia has a M-score of -2.93 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 0.00 mean?
Lohia (NSE:LCL) has a Beneish M-Score of 0.00 as of Aug. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lohia and its competitors. According to the industry distribution chart, Lohia ranks #999999 out of 2930 companies in the Industrial Products industry.
Is Lohia's Beneish M-Score too high?
Lohia's current Beneish M-Score is 0.00. Based on the distribution chart, Lohia ranks #999999 out of 2930 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Lohia has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Lohia's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Lohia ranks #999999 out of 2930 companies for Beneish M-Score. This places Lohia 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 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 Lohia and its competitors. Lohia'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 Lohia stock overvalued right now?
Lohia (NSE:LCL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Lohia's overall GF Score™ is 18/100 with 1 warning sign 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 Lohia (NSE:LCL), the current Beneish M-Score is 0.00 as of Aug. 31, 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.

Lohia Business Description

Other Exchanges 544839:India
Address Lohia Industrial Complex, Chaubepur, Kanpur, UP, IND, 209 203
Lohia Corp Ltd operates as a manufacturer of machinery and equipment for the technical textiles industry, with a focus on solutions for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabrics and sacks. Its product portfolio includes tape extrusion lines, circular looms, coating and lamination lines, printing machines, conversion machines, multifilament yarn machines, twister winders, monofilament extrusion lines, recycling machines, winders, rewinders, and spare parts. The company also provides machinery and equipment for producing technical monofilaments used in textile, agricultural, and sports applications. The majority of the revenue is derived from the sale of woven raffia machines in India.
18GF 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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