Kalika Laghubitta Bittiyanstha (XNEP:KMCDB) Beneish M-Score: -2.02 (As of Jul. 12, 2026)


XNEP:KMCDB Kalika Laghubitta Bittiya Sanstha Ltd XNEP:KMCDB
74 GF Score
Price NPR800.00
GF Value NPR1,164.96
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Kalika Laghubitta Bittiyanstha Beneish M-Score?

Kalika Laghubitta Bittiyanstha XNEP:KMCDB +1.27% 74 Beneish M-Score is -2.02 as of Jul. 12, 2026. GuruFocus rates XNEP:KMCDB with a GF Score™ of 74/100 and a GF Value™ of NPR1,164.96 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,399 Banks companies, Kalika Laghubitta Bittiyanstha ranks worse than 90.64% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XNEP:KMCDB' s Beneish M-Score Range Over the Past 10 Years
Min: -8.93   Med: -2.19   Max: -1.46
Current: -2.02

During the past 11 years, the highest Beneish M-Score of Kalika Laghubitta Bittiyanstha was -1.46. The lowest was -8.93. And the median was -2.19.

XNEP:KMCDB
74GF Score
Kalika Laghubitta Bittiya Sanstha Ltd XNEP:KMCDB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Kalika Laghubitta Bittiyanstha 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 Kalika Laghubitta Bittiyanstha 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+0.528 * 1+0.404 * 0.9878+0.892 * 1.4461+0.115 * 2.406
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8723+4.679 * -0.019283-0.327 * 1.0724
=-2.02

* 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 (Jul25) TTM:Last Year (Jul24) TTM:
Total Receivables was NPR0.0 Mil.
Revenue was NPR408.6 Mil.
Gross Profit was NPR408.6 Mil.
Total Current Assets was NPR0.0 Mil.
Total Assets was NPR5,257.5 Mil.
Property, Plant and Equipment(Net PPE) was NPR78.7 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR8.4 Mil.
Selling, General, & Admin. Expense(SGA) was NPR30.5 Mil.
Total Current Liabilities was NPR0.0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR2,849.0 Mil.
Net Income was NPR30.4 Mil.
Gross Profit was NPR0.0 Mil.
Cash Flow from Operations was NPR131.8 Mil.
 Total Receivables was NPR0.0 Mil.
Revenue was NPR282.5 Mil.
Gross Profit was NPR282.5 Mil.
Total Current Assets was NPR0.0 Mil.
Total Assets was NPR4,234.6 Mil.
Property, Plant and Equipment(Net PPE) was NPR11.9 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR3.6 Mil.
Selling, General, & Admin. Expense(SGA) was NPR24.2 Mil.
Total Current Liabilities was NPR0.0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR2,139.9 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)
=(0 / 408.576) / (0 / 282.531)
=0 / 0
=1

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)
=(282.531 / 282.531) / (408.576 / 408.576)
=1 / 1
=1

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 - (0 + 78.688) / 5257.463) / (1 - (0 + 11.894) / 4234.621)
=0.985033 / 0.997191
=0.9878

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
=408.576 / 282.531
=1.4461

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))
=(3.618 / (3.618 + 11.894)) / (8.447 / (8.447 + 78.688))
=0.233239 / 0.096942
=2.406

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)
=(30.523 / 408.576) / (24.196 / 282.531)
=0.074706 / 0.08564
=0.8723

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)
=((2849.014 + 0) / 5257.463) / ((2139.907 + 0) / 4234.621)
=0.541899 / 0.505336
=1.0724

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
=(30.372 - 0 - 131.752) / 5257.463
=-0.019283

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.

Kalika Laghubitta Bittiyanstha has a M-score of -2.02 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 -2.02 mean?
Kalika Laghubitta Bittiyanstha (XNEP:KMCDB) has a Beneish M-Score of -2.02 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kalika Laghubitta Bittiyanstha and its competitors. According to the industry distribution chart, Kalika Laghubitta Bittiyanstha ranks #1268 out of 1399 companies in the Banks industry, placing it in the top 90.6%.
Is Kalika Laghubitta Bittiyanstha's Beneish M-Score too high?
Kalika Laghubitta Bittiyanstha's current Beneish M-Score is -2.02. Based on the distribution chart, Kalika Laghubitta Bittiyanstha ranks #1268 out of 1399 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Kalika Laghubitta Bittiyanstha has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kalika Laghubitta Bittiyanstha's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Kalika Laghubitta Bittiyanstha ranks #1268 out of 1399 companies for Beneish M-Score. This places Kalika Laghubitta Bittiyanstha 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Kalika Laghubitta Bittiyanstha and its competitors. Kalika Laghubitta Bittiyanstha's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kalika Laghubitta Bittiyanstha stock overvalued right now?
Based on GuruFocus' analysis, Kalika Laghubitta Bittiyanstha (XNEP:KMCDB) is currently considered Significantly Undervalued. The stock's GF Value™ is NPR1,164.96, compared to a current price of NPR800.00 — trading 31.3% below its estimated fair value. The current Beneish M-Score is -2.02. Kalika Laghubitta Bittiyanstha's overall GF Score™ is 74/100 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 Kalika Laghubitta Bittiyanstha (XNEP:KMCDB), the current Beneish M-Score is -2.02 as of Jul. 12, 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 Kalika Laghubitta Bittiyanstha (XNEP:KMCDB) Overvalued in 2026?

Based on GuruFocus' analysis, Kalika Laghubitta Bittiyanstha stock appears to be undervalued. The current stock price of NPR800.00 is trading 31.3% below its estimated GF Value™ of NPR1,164.96. GuruFocus considers Kalika Laghubitta Bittiyanstha to be Significantly Undervalued.

Key valuation signals for XNEP:KMCDB:

  • Beneish M-Score: -2.02
  • GF Value™: NPR1,164.96 vs. price of NPR800.00 (31.3% below fair value)
  • GF Score™: 74/100 with 2 warning signs

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

Kalika Laghubitta Bittiyanstha Business Description

Address Buddhachowk, Pokhara-10, Kaski, NPL
Kalika Laghubitta Bittiya Sanstha Ltd is a licensed bank in Nepal. It provides retail microfinance services to the economically and socially disadvantaged and deprived people. It offers saving products including compulsory saving, personal saving, pension saving, festival saving, and optional saving. It also offers loan products including general loans, collateral loans, emergency loans, micro-entrepreneur loans, and group agricultural loans.
74GF Score

Get the complete analysis for XNEP:KMCDB

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

NPR800.00
Price
NPR1,164.96
GF Value