Mahalaxmi Bikas Bank (XNEP:MLBL) Beneish M-Score: -2.28 (As of Jun. 28, 2026)


XNEP:MLBL Mahalaxmi Bikas Bank Ltd XNEP:MLBL
90 GF Score
Price NPR354.90
GF Value NPR374.93
Valuation Fairly Valued
! 2 Warning Signs
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What is Mahalaxmi Bikas Bank Beneish M-Score?

Mahalaxmi Bikas Bank XNEP:MLBL -0.31% 90 Beneish M-Score is -2.28 as of Jun. 28, 2026. GuruFocus rates XNEP:MLBL with a GF Score™ of 90/100 and a GF Value™ of NPR374.93 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,399 Banks companies, Mahalaxmi Bikas Bank ranks worse than 69.91% 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 -2.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XNEP:MLBL' s Beneish M-Score Range Over the Past 10 Years
Min: -7.41   Med: -3.06   Max: -1.42
Current: -2.28

During the past 13 years, the highest Beneish M-Score of Mahalaxmi Bikas Bank was -1.42. The lowest was -7.41. And the median was -3.06.

XNEP:MLBL
90GF Score
Mahalaxmi Bikas Bank Ltd XNEP:MLBL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Mahalaxmi Bikas Bank 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 Mahalaxmi Bikas Bank 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 * 0.9969+0.892 * 1.0226+0.115 * 1.3288
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0332+4.679 * 0.032845-0.327 * 1.001
=-2.28

* 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 Mil.
Revenue was NPR2,271 Mil.
Gross Profit was NPR2,271 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR65,129 Mil.
Property, Plant and Equipment(Net PPE) was NPR667 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR71 Mil.
Selling, General, & Admin. Expense(SGA) was NPR222 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR1,154 Mil.
Net Income was NPR424 Mil.
Gross Profit was NPR0 Mil.
Cash Flow from Operations was NPR-1,715 Mil.
 Total Receivables was NPR0 Mil.
Revenue was NPR2,221 Mil.
Gross Profit was NPR2,221 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR64,689 Mil.
Property, Plant and Equipment(Net PPE) was NPR466 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR69 Mil.
Selling, General, & Admin. Expense(SGA) was NPR210 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR1,145 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 / 2271.059) / (0 / 2220.91)
=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)
=(2220.91 / 2220.91) / (2271.059 / 2271.059)
=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 + 666.995) / 65129.204) / (1 - (0 + 466.117) / 64688.995)
=0.989759 / 0.992794
=0.9969

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
=2271.059 / 2220.91
=1.0226

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))
=(68.518 / (68.518 + 466.117)) / (71.198 / (71.198 + 666.995))
=0.128158 / 0.096449
=1.3288

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)
=(221.506 / 2271.059) / (209.658 / 2220.91)
=0.097534 / 0.094402
=1.0332

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)
=((1154.109 + 0) / 65129.204) / ((1145.13 + 0) / 64688.995)
=0.01772 / 0.017702
=1.001

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
=(424.318 - 0 - -1714.852) / 65129.204
=0.032845

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.

Mahalaxmi Bikas Bank has a M-score of -2.28 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 -2.28 mean?
Mahalaxmi Bikas Bank (XNEP:MLBL) has a Beneish M-Score of -2.28 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mahalaxmi Bikas Bank and its competitors. According to the industry distribution chart, Mahalaxmi Bikas Bank ranks #978 out of 1399 companies in the Banks industry, placing it in the top 69.9%.
Is Mahalaxmi Bikas Bank's Beneish M-Score too high?
Mahalaxmi Bikas Bank's current Beneish M-Score is -2.28. Based on the distribution chart, Mahalaxmi Bikas Bank ranks #978 out of 1399 companies in the Banks industry, which is below the industry midpoint. Overall, Mahalaxmi Bikas Bank has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mahalaxmi Bikas Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Mahalaxmi Bikas Bank ranks #978 out of 1399 companies for Beneish M-Score. This places Mahalaxmi Bikas Bank 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 Mahalaxmi Bikas Bank and its competitors. Mahalaxmi Bikas Bank's current Beneish M-Score is -2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahalaxmi Bikas Bank stock overvalued right now?
Based on GuruFocus' analysis, Mahalaxmi Bikas Bank (XNEP:MLBL) is currently considered Fairly Valued. The stock's GF Value™ is NPR374.93, compared to a current price of NPR354.90 — trading 5.3% below its estimated fair value. The current Beneish M-Score is -2.28. Mahalaxmi Bikas Bank's overall GF Score™ is 90/100 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 Mahalaxmi Bikas Bank (XNEP:MLBL), the current Beneish M-Score is -2.28 as of Jun. 28, 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 Mahalaxmi Bikas Bank (XNEP:MLBL) Overvalued in 2026?

Based on GuruFocus' analysis, Mahalaxmi Bikas Bank stock appears to be undervalued. The current stock price of NPR354.90 is trading 5.3% below its estimated GF Value™ of NPR374.93. GuruFocus considers Mahalaxmi Bikas Bank to be Fairly Valued.

Key valuation signals for XNEP:MLBL:

  • Beneish M-Score: -2.28
  • GF Value™: NPR374.93 vs. price of NPR354.90 (5.3% below fair value)
  • GF Score™: 90/100 with 2 warning signs

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

Mahalaxmi Bikas Bank Business Description

Address DurbarMarg, Annapurna Arcade-II, 2nd Floor, Kathmandu, NPL
Mahalaxmi Bikas Bank Ltd is engaged in providing banking products and services. The bank's principal offerings include comprehensive range of financial services encompassing accepting of deposits, corporate and retail credit, project financing, hire purchase financing, micro credit, trade financing, personal and corporate banking, foreign currency operations, digital products such as debit cards, internet banking, mobile banking, QR services, demat service, remittance facilities including dealing in government securities and treasury related products, agency services and others ancillary services. The bank has four segments namely: Business Banking, Treasury, Card and remittance.
90GF Score

Get the complete analysis for XNEP:MLBL

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

NPR354.90
Price
NPR374.93
GF Value