Ramdevbaba Solvent (NSE:RBS) Beneish M-Score: -2.31 (As of Jun. 27, 2026)


NSE:RBS Ramdevbaba Solvent Ltd NSE:RBS
12 GF Score
Price ₹82.00
! 5 Warning Signs
View Full Analysis

What is Ramdevbaba Solvent Beneish M-Score?

Ramdevbaba Solvent NSE:RBS -2.96% 12 Beneish M-Score is -2.31 as of Jun. 27, 2026. GuruFocus rates NSE:RBS with a GF Score™ of 12/100. The stock has 5 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Ramdevbaba Solvent ranks worse than 65.49% 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 -2.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NSE:RBS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.31   Med: -1.42   Max: -0.72
Current: -2.31

During the past 5 years, the highest Beneish M-Score of Ramdevbaba Solvent was -0.72. The lowest was -2.31. And the median was -1.42.

Ramdevbaba Solvent Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ramdevbaba Solvent'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.

Ramdevbaba Solvent Beneish M-Score Chart

Ramdevbaba Solvent Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
0.00 0.00 -1.42 -0.72 -2.31

Ramdevbaba Solvent Semi-Annual Data
Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score 0.00 0.00 -1.42 -0.72 -2.31

NSE:RBS vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Ramdevbaba Solvent'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.

Ramdevbaba Solvent Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Ramdevbaba Solvent's Beneish M-Score distribution charts can be found below:

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


NSE:RBS
12GF Score
Ramdevbaba Solvent Ltd NSE:RBS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ramdevbaba Solvent 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 Ramdevbaba Solvent 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 * 0.6344+0.528 * 1.2306+0.404 * 0.5024+0.892 * 1.3529+0.115 * 1.5627
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8827+4.679 * 0.032655-0.327 * 0.9103
=-2.31

* 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 ₹454 Mil.
Revenue was ₹9,287 Mil.
Gross Profit was ₹910 Mil.
Total Current Assets was ₹1,764 Mil.
Total Assets was ₹4,820 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,953 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹48 Mil.
Selling, General, & Admin. Expense(SGA) was ₹341 Mil.
Total Current Liabilities was ₹1,138 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,974 Mil.
Net Income was ₹150 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-7 Mil.
 Total Receivables was ₹529 Mil.
Revenue was ₹6,864 Mil.
Gross Profit was ₹828 Mil.
Total Current Assets was ₹1,493 Mil.
Total Assets was ₹3,286 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,654 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹43 Mil.
Selling, General, & Admin. Expense(SGA) was ₹286 Mil.
Total Current Liabilities was ₹1,174 Mil.
Long-Term Debt & Capital Lease Obligation was ₹1,157 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)
=(453.697 / 9286.882) / (528.65 / 6864.404)
=0.048854 / 0.077013
=0.6344

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)
=(827.912 / 6864.404) / (910.201 / 9286.882)
=0.120609 / 0.098009
=1.2306

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 - (1763.854 + 2953.307) / 4819.934) / (1 - (1492.63 + 1654.313) / 3286.411)
=0.021322 / 0.042438
=0.5024

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
=9286.882 / 6864.404
=1.3529

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))
=(42.639 / (42.639 + 1654.313)) / (48.262 / (48.262 + 2953.307))
=0.025127 / 0.016079
=1.5627

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)
=(341.239 / 9286.882) / (285.755 / 6864.404)
=0.036744 / 0.041629
=0.8827

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)
=((1973.537 + 1138.429) / 4819.934) / ((1156.66 + 1174.291) / 3286.411)
=0.645645 / 0.709269
=0.9103

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
=(150.027 - 0 - -7.37) / 4819.934
=0.032655

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.

Ramdevbaba Solvent has a M-score of -2.31 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 -2.31 mean?
Ramdevbaba Solvent (NSE:RBS) has a Beneish M-Score of -2.31 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ramdevbaba Solvent and its competitors. According to the industry distribution chart, Ramdevbaba Solvent ranks #1211 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 65.5%.
Is Ramdevbaba Solvent's Beneish M-Score too high?
Ramdevbaba Solvent's current Beneish M-Score is -2.31. Based on the distribution chart, Ramdevbaba Solvent ranks #1211 out of 1849 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Ramdevbaba Solvent has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Ramdevbaba Solvent's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Ramdevbaba Solvent ranks #1211 out of 1849 companies for Beneish M-Score. This places Ramdevbaba Solvent 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 Ramdevbaba Solvent and its competitors. Ramdevbaba Solvent's current Beneish M-Score is -2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ramdevbaba Solvent stock overvalued right now?
Ramdevbaba Solvent (NSE:RBS) has a current Beneish M-Score of -2.31. The current Beneish M-Score is -2.31. Ramdevbaba Solvent's overall GF Score™ is 12/100 with 5 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 Ramdevbaba Solvent (NSE:RBS), the current Beneish M-Score is -2.31 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.

Ramdevbaba Solvent Business Description

Address Central Avenue Road, Honey Arjun Kaushalya Tower, 2nd Floor, Block No. 205 and 206, Telephone Exchange Chowk, Near HDFC Bank, Nagpur, MH, IND, 440008
Ramdevbaba Solvent Ltd is engaged in the business of manufacturing, distribution, marketing and selling of Physically Refined Rice Bran Oil. It manufactures and sells Rice Bran Oil to FMCG companies. The company manufactures Rice Bran Oil under its own brands Tulsi and Sehat and sells through distributors who in turn sell to various retailers across Maharashtra. The company also produces De-oiled Rice Bran (DORB), which is a by-product in the extraction of Rice Bran Oil, and sells the same as cattle feed, poultry feed, and fish feed in the States of Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala and Tamil Nadu. The company generates all of its revenue from the sale of products.
12GF Score

Get the complete analysis for NSE:RBS

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

₹82.00
Price