Sabar Flex India (NSE:SABAR) Beneish M-Score: -1.65 (As of Jun. 27, 2026)


NSE:SABAR Sabar Flex India Ltd NSE:SABAR
61 GF Score
Price ₹6.30
GF Value ₹28.21
Valuation Possible Value Trap
! 8 Warning Signs
View Full Analysis

What is Sabar Flex India Beneish M-Score?

Sabar Flex India NSE:SABAR 61 Beneish M-Score is -1.65 as of Jun. 27, 2026. GuruFocus rates NSE:SABAR with a GF Score™ of 61/100 and a GF Value™ of ₹28.21 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 373 Packaging & Containers companies, Sabar Flex India ranks worse than 84.72% 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 -1.65 higher than -1.78, which implies that the company might have manipulated its financial results.

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

NSE:SABAR' s Beneish M-Score Range Over the Past 10 Years
Min: -2.65   Med: -1.55   Max: 0.89
Current: -1.65

During the past 6 years, the highest Beneish M-Score of Sabar Flex India was 0.89. The lowest was -2.65. And the median was -1.55.

Sabar Flex India Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sabar Flex India'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.

Sabar Flex India Beneish M-Score Chart

Sabar Flex India Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.89 -2.65 -1.44 -1.65

Sabar Flex India Semi-Annual Data
Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.89 -2.65 -1.44 -1.65

NSE:SABAR vs SW, PKG, AMCR: Beneish M-Score Comparison

For the Packaging & Containers subindustry, Sabar Flex India'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.

Sabar Flex India Beneish M-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Sabar Flex India's Beneish M-Score distribution charts can be found below:

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


NSE:SABAR
61GF Score
Sabar Flex India Ltd NSE:SABAR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sabar Flex India 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 Sabar Flex India 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 * 1.0849+0.528 * 2.3656+0.404 * -0.5+0.892 * 1.1708+0.115 * 0.9533
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3793+4.679 * 0.082957-0.327 * 1.0141
=-1.65

* 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 ₹374 Mil.
Revenue was ₹1,477 Mil.
Gross Profit was ₹61 Mil.
Total Current Assets was ₹631 Mil.
Total Assets was ₹744 Mil.
Property, Plant and Equipment(Net PPE) was ₹113 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1 Mil.
Total Current Liabilities was ₹261 Mil.
Long-Term Debt & Capital Lease Obligation was ₹100 Mil.
Net Income was ₹7 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-55 Mil.
 Total Receivables was ₹295 Mil.
Revenue was ₹1,262 Mil.
Gross Profit was ₹123 Mil.
Total Current Assets was ₹515 Mil.
Total Assets was ₹638 Mil.
Property, Plant and Equipment(Net PPE) was ₹123 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹11 Mil.
Selling, General, & Admin. Expense(SGA) was ₹3 Mil.
Total Current Liabilities was ₹244 Mil.
Long-Term Debt & Capital Lease Obligation was ₹62 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)
=(374.471 / 1477.182) / (294.819 / 1261.68)
=0.253504 / 0.233672
=1.0849

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)
=(122.885 / 1261.68) / (60.818 / 1477.182)
=0.097398 / 0.041172
=2.3656

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 - (630.576 + 113.448) / 744.025) / (1 - (515.276 + 122.914) / 638.189)
=1.0E-6 / -2.0E-6
=-0.5

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
=1477.182 / 1261.68
=1.1708

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))
=(11.24 / (11.24 + 122.914)) / (10.931 / (10.931 + 113.448))
=0.083784 / 0.087885
=0.9533

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)
=(1.305 / 1477.182) / (2.937 / 1261.68)
=0.000883 / 0.002328
=0.3793

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)
=((100.466 + 261.367) / 744.025) / ((62.302 + 243.755) / 638.189)
=0.486318 / 0.479571
=1.0141

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
=(7.051 - 0 - -54.671) / 744.025
=0.082957

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.

Sabar Flex India has a M-score of -1.65 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 -1.65 mean?
Sabar Flex India (NSE:SABAR) has a Beneish M-Score of -1.65 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sabar Flex India and its competitors. According to the industry distribution chart, Sabar Flex India ranks #316 out of 373 companies in the Packaging & Containers industry, placing it in the top 84.7%.
Is Sabar Flex India's Beneish M-Score too high?
Sabar Flex India's current Beneish M-Score is -1.65. Based on the distribution chart, Sabar Flex India ranks #316 out of 373 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, Sabar Flex India has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sabar Flex India's Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Sabar Flex India ranks #316 out of 373 companies for Beneish M-Score. This places Sabar Flex India 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 Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers 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 Sabar Flex India and its competitors. Sabar Flex India's current Beneish M-Score is -1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sabar Flex India stock overvalued right now?
Based on GuruFocus' analysis, Sabar Flex India (NSE:SABAR) is currently considered Possible Value Trap. The stock's GF Value™ is ₹28.21, compared to a current price of ₹6.30 — trading 77.7% below its estimated fair value. The current Beneish M-Score is -1.65. Sabar Flex India's overall GF Score™ is 61/100 with 8 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 Sabar Flex India (NSE:SABAR), the current Beneish M-Score is -1.65 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 Sabar Flex India (NSE:SABAR) Overvalued in 2026?

Based on GuruFocus' analysis, Sabar Flex India stock appears to be undervalued. The current stock price of ₹6.30 is trading 77.7% below its estimated GF Value™ of ₹28.21. GuruFocus considers Sabar Flex India to be Possible Value Trap.

Key valuation signals for NSE:SABAR:

  • Beneish M-Score: -1.65
  • GF Value™: ₹28.21 vs. price of ₹6.30 (77.7% below fair value)
  • GF Score™: 61/100 with 8 warning signs

No single metric tells the full story. See the NSE:SABAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sabar Flex India Business Description

Address Corporate Road, B/1/104, Palladium Building, Near Orchid Wood, Opposite Divya Bhaskar, Prahaladnagar, Ahmedabad, GJ, IND, 380015
Sabar Flex India Ltd is in the business of packaging products made from plastics, which caters to the packaging requirements of various industries. Its product portfolio consists of multi-color pouches, stand-up pouches, zip-lock pouches, vacuum pouches, paper bags, and e-commerce bags, among others.
61GF Score

Get the complete analysis for NSE:SABAR

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

₹6.30
Price
₹28.21
GF Value