Lux IndustriesNSE:LUXIND -1.21%77 Beneish M-Score is -1.35 as of Jun. 27, 2026. GuruFocus rates NSE:LUXIND with a GF Score™ of 77/100 and a GF Value™ of ₹1,691.46 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,001 Manufacturing - Apparel & Accessories companies, Lux Industries ranks worse than 86.81% 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.
Warning Sign:
Beneish M-Score -1.35 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Lux Industries's Beneish M-Score or its related term are showing as below:
NSE:LUXIND'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.86 Med: -2.2 Max: -1.06
Current: -1.35
During the past 12 years, the highest Beneish M-Score of Lux Industries was -1.06. The lowest was -2.86. And the median was -2.20.
Lux Industries Beneish M-Score Related Terms
Lux Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Lux Industries'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.
NSE:LUXIND vs RL, LEVI, VFC: Beneish M-Score Comparison
For the Apparel Manufacturing subindustry, Lux Industries'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.
Lux Industries Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Lux Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lux Industries'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 Lux Industries 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 * 1.093
+
0.528 * 1.0771
+
0.404 * 2.0637
+
0.892 * 1.1342
+
0.115 * 0.8638
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.081684
-
0.327 * 1.2474
=
-1.35
* 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))
=
(240.6 / (240.6 + 3815.8))
/
(300.3 / (300.3 + 4073.1))
=
0.059314
/
0.068665
=
0.8638
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
=
(1038 - 0
-
-1485.1)
/
30888.6
=
0.081684
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.
Lux Industries has a M-score of -1.35 signals that the company is likely to be a manipulator.
Lux Industries (NSE:LUXIND) has a Beneish M-Score of -1.35 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lux Industries and its competitors. According to the industry distribution chart, Lux Industries ranks #869 out of 1001 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 86.8%.
Is Lux Industries' Beneish M-Score too high?
Lux Industries' current Beneish M-Score is -1.35. Based on the distribution chart, Lux Industries ranks #869 out of 1001 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Lux Industries has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lux Industries' Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Lux Industries ranks #869 out of 1001 companies for Beneish M-Score. This places Lux Industries 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Lux Industries and its competitors. Lux Industries's current Beneish M-Score is -1.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lux Industries stock overvalued right now?
Based on GuruFocus' analysis, Lux Industries (NSE:LUXIND) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,691.46, compared to a current price of ₹1,220.00 — trading 27.9% below its estimated fair value. The current Beneish M-Score is -1.35. Lux Industries' overall GF Score™ is 77/100 with 6 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 Lux Industries (NSE:LUXIND), the current Beneish M-Score is -1.35 as of Jun. 27, 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 Lux Industries (NSE:LUXIND) Overvalued in 2026?
Based on GuruFocus' analysis, Lux Industries stock appears to be undervalued.
The current stock price of ₹1,220.00 is trading 27.9% below its estimated GF Value™ of ₹1,691.46.
GuruFocus considers Lux Industries to be Modestly Undervalued.
Key valuation signals for NSE:LUXIND:
Beneish M-Score: -1.35
GF Value™: ₹1,691.46 vs. price of ₹1,220.00 (27.9% below fair value)
No single metric tells the full story. See the NSE:LUXIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lux Industries Ltd is an Indian company that is engaged in manufacturing and sales of knitwear for men, women, and children. The company's products include briefs, trunks, drawers, vests, Bermudas, t-shirts, socks, leggings, bloomers, slacks and slips, and winter wear. It has three distinct business verticals each specializing in the production, marketing, and distribution of products under various brands such as; Vertical A comprises Lux Cozi, ONN, Lux Cotts wool, Lux Mozze, and One8 brands; Vertical B includes Lux Venus, Lyra, Lux Inferno, and Lux Nitro; and Vertical C includes GenX, Lux Classic, Lux Karishma, and Lux Amore brands. Maximum revenue is generated from Verticle B. Geographically, it caters to both domestic and international markets and derives its key revenue within India.
77GF Score
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