52-week range
Price risk
Balance sheet & cash
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.
What prices imply across Non-Energy Minerals The market-wide Expectations lists
What changed?
- Oct '26Fell 77% from the Jun 2023 peak to the Oct 2026 low.
- Sep '26Slipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
- Jun '26Promoter holding fell 15.0 pts to 75.0%.
- Jun '26Moved into the 3rd quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
- Dec '25Revenue (TTM) reached a new high of ₹333 cr.
- Dec '25Slipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
- Oct '25Moved into the 3rd quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
- Jun '24Promoter holding fell 5.0 pts to 90.0%.
Show 2 earlier events
- Jun '24EPS (TTM) turned negative.
- Jul '23EPS (TTM) turned positive.
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 4 checks are within range, 1 beyond a threshold.
Tap a check to see how it is measured.
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 conversion—Not enough data
Not enough reported data to compute this.
Free cash flow1 of 5 yrsBeyond threshold
Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-8 daysWithin range
Debtor days are below the median of the previous three fiscal years by 8 days (38 vs 46). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress1% of fixed assetsWithin range
Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-597 days / 2 yrsWithin range
Days payable changed by -597 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 20.0 pts.
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
-76.6% (2023-06 peak to 2026-10 low, not yet recovered)
Where does it rank among Non-Energy Minerals peers?
Each cell is the company's percentile rank among its Non-Energy Minerals 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like ANDHRA CEMENT LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −20% to +43% vs the market, against −3% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +18.0%, 80% range +3.4% to +21.6%), but the matches cluster in only 6 distinct 12-month windows.
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 · 4 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 33 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SPENCERS Retail Trade |
Apr 2021 | — | -6% | −9% | −32% | −1% |
| PNBGILTS Finance |
Jun 2023 | — | 5% | −1% | −17% | +62% |
| RBA Consumer Services |
Jan 2025 | — | -5% | −39% | −39% | −18% |
| NAGAFERT Process Industries |
Dec 2022 | — | -19% | −5% | −40% | −11% |
| ZEELEARN Consumer Services |
Jun 2023 | — | 2% | −45% | −61% | +57% |
Show the other 3 matches
How reliable is this?
Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, interest cover and drawdown from 12-month high. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. 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 (42 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | — | ₹485 cr | -90.8% | -6.0% | 13.9x |
| 2026-09 | — | ₹485 cr | -90.1% | -6.0% | 13.9x |
| 2026-08 | — | ₹443 cr | -82.7% | -6.0% | 13.9x |
| 2026-07 | — | ₹443 cr | -82.7% | -6.0% | 13.9x |
| 2026-06 | — | ₹443 cr | -82.7% | -6.0% | 13.9x |
| 2026-05 | — | ₹377 cr | -115.3% | -11.0% | 5.3x |
| 2026-04 | — | ₹377 cr | -115.3% | -11.0% | 5.3x |
| 2026-03 | — | ₹377 cr | -115.3% | -11.0% | 5.3x |
| 2026-02 | — | ₹333 cr | -115.3% | -11.0% | 5.3x |
| 2026-01 | — | ₹333 cr | -115.3% | -11.0% | 5.3x |
| 2025-12 | — | ₹333 cr | -115.3% | -11.0% | 5.3x |
| 2025-11 | — | ₹310 cr | -110.4% | -11.0% | 5.3x |
| 2025-10 | — | ₹310 cr | -110.4% | -11.0% | 5.3x |
| 2025-09 | — | ₹310 cr | -110.4% | -11.0% | 5.3x |
| 2025-08 | — | ₹273 cr | -106.3% | -11.0% | 5.3x |
| 2025-07 | — | ₹273 cr | -106.3% | -11.0% | 5.3x |
| 2025-06 | — | ₹273 cr | -106.3% | -11.0% | 5.3x |
| 2025-05 | — | ₹276 cr | -41.1% | -6.0% | 2.3x |
| 2025-04 | — | ₹276 cr | -41.1% | -6.0% | 2.3x |
| 2025-03 | — | ₹276 cr | -41.1% | -6.0% | 2.3x |
| 2025-02 | — | ₹308 cr | -33.3% | -6.0% | 2.3x |
| 2025-01 | — | ₹308 cr | -33.3% | -6.0% | 2.3x |
| 2024-12 | — | ₹308 cr | -33.3% | -6.0% | 2.3x |
| 2024-11 | — | ₹318 cr | -21.9% | -6.0% | 2.3x |
| 2024-10 | — | ₹318 cr | -21.9% | -6.0% | 2.3x |
| 2024-09 | — | ₹318 cr | -21.9% | -6.0% | 2.3x |
| 2024-08 | — | ₹268 cr | -22.2% | -6.0% | 2.3x |
| 2024-07 | — | ₹268 cr | -22.2% | -6.0% | 2.3x |
| 2024-06 | — | ₹268 cr | -22.2% | -6.0% | 2.3x |
| 2024-05 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2024-04 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2024-03 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2024-02 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2024-01 | 1.2x | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-12 | 1.1x | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-11 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-10 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-09 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-08 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-07 | 1.0x | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-06 | — | ₹0 cr | 267.6% | -15.0% | 1.5x |
| 2023-05 | — | ₹0 cr | — | -45.0% | — |