52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Partly.
- Most of the rise came from investors paying a higher multiple (P/E 20.0x to 35.0x); per-share earnings added 44 points.
- The share count barely moved.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.
Net profit is trailing twelve months as reported with a 60-day lag.
Is it expensive against its own past and its peers?
The chart loads when you open this tab.
The chart loads when you open this tab.
How to read this
Shaded band: 10th to 90th percentile of the company's own P/E history; dashed line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).
Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.
What is the price implying?
At normalised P/E (five-year average earnings) of 61.5x, a holder earning 12%/yr needs earnings to grow about 28.6%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 30.3% | 31.5% | 32.7% |
| 15x | 27.5% | 28.6% | 29.8% |
| 20x | 23.9% | 25.0% | 26.2% |
“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.
What prices imply across Health Technology The market-wide Expectations lists
What changed?
- Sep '26Promoter holding fell 2.4 pts to 53.0%.
- Jul '26Volume reached 11.9x its 50-day median on 2026-07-20; price +2.8% that day.
- Jun '26Revenue (TTM) reached a new high of ₹349 cr.
- Jun '26Share count is up 14.3% over 12 months.
- Jun '26Volume reached 17.8x its 50-day median on 2026-06-09; price +0.0% that day.
- May '26P/E crossed above the 90th percentile of its own history to date (32.1x).
- Jan '26Volume reached 6.0x its 50-day median on 2026-01-06; price +10.9% that day.
- Dec '25Regained the 2024-01 peak, 9 months after the low.
Show 14 earlier events
- Nov '25Volume reached 9.4x its 50-day median on 2025-11-19; price +7.0% that day.
- Sep '25Moved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
- Jul '25Volume reached 5.7x its 50-day median on 2025-07-31; price +12.0% that day.
- Jun '25Revenue (TTM) reached a new high of ₹265 cr.
- Jun '25Slipped to the 3rd quartile of Health Technology on EPS growth (from the 2nd quartile).
- Jun '25Volume reached 7.4x its 50-day median on 2025-06-30; price +15.9% that day.
- Mar '25Fell 49% from the Jan 2024 peak to the Mar 2025 low.
- Mar '25Volume reached 5.1x its 50-day median on 2025-03-25; price -3.8% that day.
- Dec '24Debt / equity halved over 12 months to 0.08x.
- Dec '24Share count is up 61.5% over 12 months.
- Dec '24Volume reached 21.2x its 50-day median on 2024-12-23; price +19.9% that day.
- Jul '24Volume reached 7.6x its 50-day median on 2024-07-09; price +4.8% that day.
- May '24Volume reached 7.6x its 50-day median on 2024-05-08; price +8.1% that day.
- Mar '24Volume reached 6.4x its 50-day median on 2024-03-14; price -0.6% that day.
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
Are profits backed by cash?
3 of 6 checks are within range, 2 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.
Other income reliance12%Within range
Other income as a share of pre-tax profit (trailing twelve months): 12.1%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate—Not enough data
Not enough reported data to compute this.
Cash conversion0.51xNear threshold
Operating cash flow divided by net profit over the last three fiscal years: 0.51x (cash from operations ₹55 cr, net profit ₹107 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+11 daysWithin range
Debtor days are above the median of the previous three fiscal years by 11 days (95 vs 85). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress192% of fixed assetsBeyond threshold
Capital work-in-progress is 192% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-15 days / 2 yrsWithin range
Days payable changed by -15 over two years. Bands: rise of up to 30 days; more than 30 days.
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.
Who has been buying and selling?
- Over 2 years, promoters trimmed 2.1 pts; DIIs added 1.9 pts; FIIs added 0.9 pts.
- The number of shareholders rose from 2,418 to 3,178 (+31%) between Mar 2024 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-48.8% (2024-01 peak to 2025-03 low, recovered 2025-12)
-18.4% (2026-09 peak to 2026-10 low, not yet recovered)
Most recent volume spikes
2026-07-20: 11.9x the 50-day median, price +2.8% that day
Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).
Where does it rank among Health Technology peers?
Each cell is the company's percentile rank among its Health Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Health Technology sector page Watch it move against Health Technology in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| ZTECH INDIA (ZTECH) | Industrial Services | 57% | promoter holding, ROCE |
| MODIS NAVNIRMAN (MODIS) | Finance | 47% | ROCE, revenue |
| STUDDS ACCESSORIES (STUDDS) | Consumer Durables | 47% | market cap, ROCE |
| GRETEX CORPORATE SERVICES (GCSL) | Finance | 46% | volatility, market cap |
| SHRI AHIMSA NATURALS (SHRIAHIMSA) | Consumer Non-Durables | 45% | volatility, P/E |
| SYNCOM FORMULATIONS (INDIA) LT (SYNCOMF) | Health Technology | 63% | ROCE, debt/equity |
| ANLON HEALTHCARE (AHCL) | Health Technology | 29% | promoter holding, market cap |
| ANONDITA MEDICARE (ANONDITA) | Health Technology | 19% | market cap, revenue |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like ACCENT MICROCELL LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −23% to +35% vs the market, against −1% for all non-financial companies in the same months.
- The gap against the base rate (−4.3%, 80% range −13.9% to +4.9%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 39 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| DHANUKA Process Industries |
Jul 2020 | 27x | 26% | +119% | −11% | −24% |
| RSYSTEMS Technology Services |
Jun 2020 | 19x | 22% | +134% | −14% | −2% |
| NUCLEUS Technology Services |
Sep 2020 | 22x | 21% | +111% | −3% | −47% |
| GRSE Producer Manufacturing |
Jun 2020 | 15x | 22% | +74% | −11% | −42% |
| JBCHEPHARM Health Technology |
Oct 2020 | 29x | 23% | +195% | −12% | +4% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| MPSLTD Consumer Services |
Feb 2025 | 34x | 36% | +65% | −17% | −46% |
| ADFFOODS Consumer Non-Durables |
Mar 2021 | 42x | 28% | +426% | −4% | −29% |
| VAIBHAVGBL Consumer Durables |
Mar 2020 | 16x | 27% | +20% | −34% | +177% |
How reliable is this?
Matched on P/E, P/S, ROCE, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, P/E and P/S. Not used (unavailable for this company): operating margin. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
Monthly history (35 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 35.0x | ₹349 cr | 15.9% | 25.0% | 0.0x |
| 2026-09 | 36.9x | ₹349 cr | 15.9% | 25.0% | 0.0x |
| 2026-08 | 32.6x | ₹349 cr | 15.9% | 25.0% | 0.0x |
| 2026-07 | 27.8x | ₹349 cr | 15.9% | 25.0% | 0.0x |
| 2026-06 | 26.5x | ₹349 cr | 15.9% | 25.0% | 0.0x |
| 2026-05 | 32.1x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2026-04 | 30.9x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2026-03 | 25.8x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2026-02 | 25.4x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2026-01 | 23.4x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-12 | 25.1x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-11 | 23.8x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-10 | 20.0x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-09 | 17.8x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-08 | 20.6x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-07 | 22.9x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-06 | 19.3x | ₹265 cr | 16.9% | 24.0% | 0.0x |
| 2025-05 | 17.7x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2025-04 | 16.1x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2025-03 | 14.4x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2025-02 | 16.4x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2025-01 | 19.4x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-12 | 20.3x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-11 | 19.4x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-10 | 19.6x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-09 | 21.2x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-08 | 21.1x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-07 | 21.9x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-06 | 20.8x | ₹246 cr | 18.3% | 31.0% | 0.1x |
| 2024-05 | 31.0x | ₹197 cr | 24.0% | 27.0% | 0.5x |
| 2024-04 | 30.7x | ₹197 cr | 24.0% | 27.0% | 0.5x |
| 2024-03 | 28.1x | ₹197 cr | 24.0% | 27.0% | 0.5x |
| 2024-02 | 31.1x | ₹197 cr | 24.0% | 27.0% | 0.5x |
| 2024-01 | 33.3x | ₹197 cr | 24.0% | 27.0% | 0.5x |
| 2023-12 | 33.5x | ₹197 cr | 24.0% | 27.0% | 0.5x |