TWENTYFIRST CENTURY MANAGEMENT (21STCENMGM): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹54.53 latest close · +73.4% over the last 90 sessions

₹54.53 month-end · +42.6% over 12 months

₹54.53 month-end · +155.4% over 3 years

₹54.53 month-end · +186.2% since Jan '19

52-week range ₹28.25 to ₹65.10 · 1-year volatility 32.5%

How rough has the ride been?

Maximum drawdown-79.4%not yet recovered

1-year volatility32.5%annualised

Drawdown from peak

Largest drawdowns

-79.4% (2024-09 peak to 2026-04 low, not yet recovered)

-76.3% (2021-11 peak to 2023-03 low, recovered 2024-06)

-68.5% (2019-04 peak to 2020-10 low, recovered 2021-07)

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹54.53
ROCE: -57.0%
Market Cap: ₹57 cr
Revenue (TTM): ₹-11 cr
P/B: 1.7x
ROE: -52.1%
Operating Margin: 94.6%
Debt / Equity: 0.0x
Promoter Holding: 64.4%
12M Momentum: 42.6%

52-week range

₹28.25₹65.10

71% of the way from its 52-week low to its high

Price risk

1Y volatility

32.5%

Balance sheet & cash

Debt service

no meaningful debt

Cash from profit, 3Y

operating cash flow ÷ net profit

0.00x

low

Share count, 1Y

unchanged

Are profits backed by cash?

2 of 4checks within range1 beyond a threshold

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion0.00xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.00x (cash from operations ₹0 cr, net profit ₹20.5 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-158 daysWithin range

Debtor days are below the median of the previous three fiscal years by 158 days (-133 vs 25). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, institutional and promoter holdings were broadly unchanged.
The number of shareholders rose from 6,333 to 7,707 (+22%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters64.3%64.4%+0.2 pts

FIIs———

DIIs———

Public and others35.8%35.6%-0.2 pts

Number of shareholders

7,707shareholders+22% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

Not enough comparable history to show analogs for this company yet.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What changed?

23 events since Feb '19

2026
AprPriceFell 79% from the Sep 2024 peak to the Apr 2026 low.
2025
SepResultsEPS (TTM) turned negative.
JunResultsYear-on-year EPS growth turned negative.
JunDividendDividend payout cut from 8% to 0% of profit.
FebValuationP/E fell below the 10th percentile of its own history to date (1.3x).
JanDebtDebt / equity halved over 12 months to 0.00x.
2024
JunResultsEPS (TTM) turned positive.
JunPriceRegained the 2021-11 peak, 15 months after the low.

Show 15 earlier events

2024
JunDebtDebt / equity halved over 12 months to 0.00x.
JunDividendStarted paying a dividend (payout 8% of profit).
2023
JunResultsEPS (TTM) turned negative.
MarPriceFell 76% from the Nov 2021 peak to the Mar 2023 low.
JanValuationP/E fell below the 10th percentile of its own history to date (1.3x).
2022
JunResultsRevenue (TTM) reached a new high of ₹260 cr.
JanDebtDebt / equity halved over 12 months to 0.00x.
2021
JulPriceRegained the 2019-04 peak, 9 months after the low.
JunResultsEPS (TTM) turned positive.
JunDebtDebt / equity halved over 12 months to 0.00x.
2020
OctPriceFell 68% from the Apr 2019 peak to the Oct 2020 low.
2019
JunResultsEPS (TTM) turned negative.
JunDividendDividend payout cut from 44% to 0% of profit.
AprPriceRegained the 2019-01 peak, 2 months after the low.
FebPriceFell 29% from the Jan 2019 peak to the Feb 2019 low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	—	₹-11 cr	-52.1%	-57.0%	0.0x
2026-10	—	₹-11 cr	-52.1%	-57.0%	0.0x
2026-09	—	₹-11 cr	-52.1%	-57.0%	0.0x
2026-08	—	₹-17 cr	-72.8%	-57.0%	0.0x
2026-07	—	₹-17 cr	-72.8%	-57.0%	0.0x
2026-06	—	₹-17 cr	-72.8%	-57.0%	0.0x
2026-05	—	₹-15 cr	-43.1%	37.5%	0.0x
2026-04	—	₹-15 cr	-43.1%	37.5%	0.0x
2026-03	—	₹-15 cr	-43.1%	37.5%	0.0x
2026-02	—	₹-14 cr	-38.5%	37.5%	0.0x
2026-01	—	₹-14 cr	-38.5%	37.5%	0.0x
2025-12	—	₹-14 cr	-38.5%	37.5%	0.0x
2025-11	—	₹8 cr	-18.3%	37.5%	0.0x
2025-10	—	₹8 cr	-18.3%	37.5%	0.0x
2025-09	—	₹8 cr	-18.3%	37.5%	0.0x
2025-08	4.4x	₹113 cr	25.1%	37.5%	0.0x
2025-07	4.8x	₹113 cr	25.1%	37.5%	0.0x
2025-06	4.8x	₹113 cr	25.1%	37.5%	0.0x
2025-05	1.9x	₹139 cr	75.5%	78.4%	0.0x
2025-04	1.9x	₹139 cr	75.5%	78.4%	0.0x
2025-03	1.7x	₹139 cr	75.5%	78.4%	0.0x
2025-02	1.3x	₹157 cr	111.7%	78.4%	0.0x
2025-01	1.4x	₹157 cr	111.7%	78.4%	0.0x
2024-12	1.6x	₹157 cr	111.7%	78.4%	0.0x
2024-11	1.7x	₹146 cr	111.5%	78.4%	0.0x
2024-10	2.0x	₹146 cr	111.5%	78.4%	0.0x
2024-09	1.9x	₹146 cr	111.5%	78.4%	0.0x
2024-08	3.9x	₹39 cr	60.4%	78.4%	0.0x
2024-07	2.7x	₹39 cr	60.4%	78.4%	0.0x
2024-06	2.1x	₹39 cr	60.4%	78.4%	0.0x
2024-05	—	₹-9 cr	-87.2%	-57.7%	0.5x
2024-04	—	₹-9 cr	-87.2%	-57.7%	0.5x
2024-03	—	₹-9 cr	-87.2%	-57.7%	0.5x
2024-02	—	₹-9 cr	-87.2%	-57.7%	0.5x
2024-01	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-12	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-11	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-10	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-09	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-08	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-07	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-06	—	₹-9 cr	-87.2%	-57.7%	0.5x
2023-05	1.1x	₹260 cr	48.1%	53.7%	0.0x
2023-04	1.2x	₹260 cr	48.1%	53.7%	0.0x
2023-03	1.3x	₹260 cr	48.1%	53.7%	0.0x
2023-02	1.1x	₹260 cr	48.1%	53.7%	0.0x
2023-01	1.3x	₹260 cr	48.1%	53.7%	0.0x
2022-12	1.4x	₹260 cr	48.1%	53.7%	0.0x
2022-11	1.4x	₹260 cr	48.1%	53.7%	0.0x
2022-10	1.5x	₹260 cr	48.1%	53.7%	0.0x
2022-09	1.5x	₹260 cr	48.1%	53.7%	0.0x
2022-08	1.9x	₹260 cr	48.1%	53.7%	0.0x
2022-07	1.6x	₹260 cr	48.1%	53.7%	0.0x
2022-06	1.6x	₹260 cr	48.1%	53.7%	0.0x
2022-05	4.5x	₹7 cr	21.3%	20.1%	0.0x
2022-04	5.5x	₹7 cr	21.3%	20.1%	0.0x
2022-03	5.7x	₹7 cr	21.3%	20.1%	0.0x
2022-02	5.8x	₹7 cr	21.3%	20.1%	0.0x
2022-01	8.9x	₹7 cr	21.3%	20.1%	0.0x
2021-12	9.1x	₹7 cr	21.3%	20.1%	0.0x
2021-11	11.4x	₹7 cr	21.3%	20.1%	0.0x
2021-10	10.9x	₹7 cr	21.3%	20.1%	0.0x
2021-09	9.6x	₹7 cr	21.3%	20.1%	0.0x
2021-08	6.5x	₹7 cr	21.3%	20.1%	0.0x
2021-07	4.2x	₹7 cr	21.3%	20.1%	0.0x
2021-06	4.2x	₹7 cr	21.3%	20.1%	0.0x
2021-05	—	₹-31 cr	-175.3%	-83.7%	0.4x
2021-04	—	₹-31 cr	-175.3%	-83.7%	0.4x
2021-03	—	₹-31 cr	-175.3%	-83.7%	0.4x
2021-02	—	₹-31 cr	-175.3%	-83.7%	0.4x
2021-01	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-12	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-11	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-10	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-09	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-08	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-07	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-06	—	₹-31 cr	-175.3%	-83.7%	0.4x
2020-05	—	₹-2 cr	-11.9%	-8.1%	0.0x
2020-04	—	₹-2 cr	-11.9%	-8.1%	0.0x
2020-03	—	₹-2 cr	-11.9%	-8.1%	0.0x
2020-02	—	₹-2 cr	-11.9%	-8.1%	0.0x
2020-01	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-12	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-11	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-10	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-09	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-08	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-07	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-06	—	₹-2 cr	-11.9%	-8.1%	0.0x
2019-05	2.9x	₹28 cr	9.8%	14.2%	0.0x
2019-04	3.5x	₹28 cr	9.8%	14.2%	0.0x
2019-03	2.9x	₹28 cr	9.8%	14.2%	0.0x
2019-02	2.7x	₹28 cr	9.8%	14.2%	0.0x
2019-01	3.3x	₹28 cr	9.8%	14.2%	0.0x

Methodology and data notes