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ADANI ENTERPRISES LIMITED (ADANIENT)

Distribution Services · Wholesale Distributors · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.43 / 100
Profitability 58Growth 55Balance sheet 15
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.39 / 100
Price 38Earnings 43FII/DII 35
Compare withAEGIS LOGISTICSSCHNEIDER ELECTRIC INFRALLOYDS ENTERPRISES

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,706.3 latest close · −15.7% over the last 90 sessions

₹2,500₹2,750₹3,000₹3,250Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,500₹2,750₹3,000₹3,250Jul 3Sep 4Nov 9

₹2,706.3 month-end · +18.7% over 12 months

₹2,000₹2,500₹3,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,000₹2,500₹3,000Nov '25May '26Nov '26

₹2,706.3 month-end · +18.4% over 3 years

₹2,000₹2,500₹3,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹2,500₹3,000Nov '23May '25Nov '26

₹2,706.3 month-end · +1934.8% since Jan '19

₹0₹2,000₹4,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹2,000₹4,000Jan '19Dec '22Nov '26

52-week range ₹1753.00 to ₹3245.00 · 1-year volatility 37.7%

Was the rally earned?

+19%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 17 points to the rise, while the multiple moved less (P/E 45.0x to 45.6x).
  • The share count fell 17%.
Net profit growth: −2 pts. Points of the price return explained by net profit growing (or shrinking).−2 ptsNet profit growthP/E change: +1 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+1 ptsP/E changeShare count change: +20 pts. Points of the price return explained by the share count changing. More shares count against the price.+20 ptsShare count changeShare price: +19%+19%Share priceNet profit growth: −2 pts. Points of the price return explained by net profit growing (or shrinking).−2ProfitP/E change: +1 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+1P/EShare count change: +20 pts. Points of the price return explained by the share count changing. More shares count against the price.+20SharesShare price: +19%+19%Share price
Net profit growth-2 ptsNet profit fell about 2%, which lowers the price.
P/E change+1 ptsThe P/E rose from 45.0x to 45.6x, which lifts the price.
Share count change+20 ptsShare count fell 17%, which lifts the price.
+18%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 122 points, but investors now pay less per rupee of profit (P/E 118.5x to 45.6x), which took 104 points back.
  • The share count fell 5%.
Net profit growth: +116 pts. Points of the price return explained by net profit growing (or shrinking).+116 ptsNet profit growthP/E change: −104 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−104 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +18%+18%Share priceNet profit growth: +116 pts. Points of the price return explained by net profit growing (or shrinking).+116ProfitP/E change: −104 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−104P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +18%+18%Share price
Net profit growth+116 ptsNet profit rose about 191%, which lifts the price.
P/E change-104 ptsThe P/E fell from 118.5x to 45.6x, which lowers the price.
Share count change+6 ptsShare count fell 5%, which lifts the price.
+68%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 271 points, but investors now pay less per rupee of profit (P/E 215.2x to 45.6x), which took 203 points back.
  • The share count fell 15%.
Net profit growth: +250 pts. Points of the price return explained by net profit growing (or shrinking).+250 ptsNet profit growthP/E change: −203 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−203 ptsP/E changeShare count change: +21 pts. Points of the price return explained by the share count changing. More shares count against the price.+21 ptsShare count changeShare price: +68%+68%Share priceNet profit growth: +250 pts. Points of the price return explained by net profit growing (or shrinking).+250ProfitP/E change: −203 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−203P/EShare count change: +21 pts. Points of the price return explained by the share count changing. More shares count against the price.+21SharesShare price: +68%+68%Share price
Net profit growth+250 ptsNet profit rose about 573%, which lifts the price.
P/E change-203 ptsThe P/E fell from 215.2x to 45.6x, which lowers the price.
Share count change+21 ptsShare count fell 15%, which lifts the price.
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.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with AEGIS LOGISTICS

How rough has the ride been?

Maximum drawdown-71.3%not yet recovered
1-year volatility37.7%annualised
Beta vs sector index0.613-year daily, correlation 0.41
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−68.4% 0%−20%−40%−60%2020202220242026−68.4%
Largest drawdowns

-71.3% (2022-12 peak to 2023-02 low, not yet recovered)

-53.3% (2020-02 peak to 2020-03 low, recovered 2020-08)

-25.6% (2019-01 peak to 2019-02 low, recovered 2019-05)

Most recent volume spikes

2026-08-31: 10x the 50-day median, price -9.8% 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).

Is it expensive against its own past and its peers?

45.6xP/E todayWithin its usual range
Against its own history39th percentile
CheapestMedian 76.9xDearest

Usual range 23.0x to 299.6x since 2019-01.

Against Distribution Services45.6x vs 16.7x
This company
45.6x
Sector median
16.7x

172% above the Distribution Services median.

7.1x205.7x404.3x602.9xJan '19Aug '20Mar '22Oct '23May '25Nov '267.1x205.7x404.3x602.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianDistribution Services median

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P/B (this company)10th to 90th percentile of its own historyIts medianDistribution Services median

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P/S (this company)10th to 90th percentile of its own historyIts medianDistribution Services median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted 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.

All terms explained in the glossary →

How Distribution Services is valued

Where does it rank among Distribution Services peers?

Each cell is the company's percentile rank among its Distribution Services 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).

Where it ranks today

  • ROCE36th▼ 10 pts vs a year ago
  • Op. margin80th▼ 9 pts vs a year ago
  • Revenue growth64th▲ 39 pts vs a year ago
  • EPS growth54th▼ 25 pts vs a year ago
  • Debt/equity ↓12th▲ 6 pts vs a year ago
  • Cash cycle ↓98thflat vs a year ago
  • P/E ↓22nd▼ 11 pts vs a year ago
  • 12M momentum80thflat vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

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 Distribution Services sector page Watch it move against Distribution Services in the Observatory

What is the price implying?

~30%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 69.9x, a holder earning 12%/yr needs earnings to grow about 30.4%/yr for 10 years, then trade at 15x.

Delivered38.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−7.7 ptsimplied minus delivered
Rank677thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

-20%21%62% Jan 2019Nov 2026 -20%21%62% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x32.1%33.3%34.5%
15x29.2%30.4%31.6%
20x25.6%26.7%27.9%

Drag a slider to test other assumptions

Implied: 30.4%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 50%/yr (7.0 yrs)
  • Jan 2021Price implied 30%/yr; EPS has since grown 42%/yr (6.0 yrs)
  • Jan 2022Price implied 50%/yr; EPS has since grown 52%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“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 Distribution Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2706.30
P/E
45.6x
ROCE
6.0%
Market Cap
₹3.66L cr
Revenue (TTM)
₹1.11L cr
P/S
3.3x
P/B
4.5x
ROE
9.9%
Operating Margin
15.0%
Debt / Equity
1.3x
Promoter Holding
74.8%
12M Momentum
18.7%

52-week range

₹1753.00₹3245.00
64% of the way from its 52-week low to its high

Price risk

1Y volatility
37.7%
Beta vs sector
1-year daily
0.61

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.81x
Share count, 1Y
+12.2%

Are profits backed by cash?

5 of 7checks within range2 beyond a threshold
Other income reliance86%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 85.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.81xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.81x (cash from operations ₹17,182 cr, net profit ₹21,291 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

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+10 daysWithin range

Debtor days are above the median of the previous three fiscal years by 10 days (46 vs 36). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress45% of fixed assetsWithin range

Capital work-in-progress is 45% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+6 days / 2 yrsWithin range

Days payable changed by +6 over two years. Bands: rise of up to 30 days; more than 30 days.

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 2 years, FIIs trimmed 5.9 pts; DIIs added 3.9 pts; promoters added 2.2 pts.
  • The number of shareholders rose from 5.6 lakh to 6.0 lakh (+6%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters72.6%74.8%+2.2 pts
FIIs14.7%8.8%-5.9 pts
DIIs5.4%9.3%+3.9 pts
Public and others7.3%7.1%-0.2 pts

Number of shareholders

6.0 lakhshareholders+6% since Dec '23
5.4L5.8L6.2L6.7L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 5.6 lakh
Mar '24: 5.4 lakh
Jun '24: 6.4 lakh
Sep '24: 5.8 lakh
Dec '24: 6.7 lakh
Mar '25: 6.6 lakh
Jun '25: 6.2 lakh
Sep '25: 6.2 lakh
Dec '25: 6.4 lakh
Mar '26: 6.6 lakh
Jun '26: 6.0 lakh
 5.4L5.8L6.2L6.7L Dec '23Dec '24Dec '25Jun '26
Dec '23: 5.6 lakh
Mar '24: 5.4 lakh
Jun '24: 6.4 lakh
Sep '24: 5.8 lakh
Dec '24: 6.7 lakh
Mar '25: 6.6 lakh
Jun '25: 6.2 lakh
Sep '25: 6.2 lakh
Dec '25: 6.4 lakh
Mar '26: 6.6 lakh
Jun '26: 6.0 lakh

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

−9.4%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like ADANI ENTERPRISES LIMITED 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 −25% to +13% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (−5.7%, 80% range −19.1% to +0.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
MOTHERSON · Apr 2021: −42.1% vs market
PCBL · Mar 2025: −41.3% vs market
RAMCOCEM · Jun 2023: −38.2% vs market
JUBLFOOD · May 2025: −36.2% vs market
NTPC · May 2020: −35.2% vs market
IRB · Apr 2024: −34.0% vs market
ZYDUSLIFE · Jan 2021: −33.8% vs market
BPCL · Jul 2020: −31.0% vs market
KIRLOSENG · May 2024: −30.9% vs market
JSWSTEEL · May 2021: −28.2% vs market
JMFINANCIL · Mar 2020: −27.4% vs market
JSWENERGY · Aug 2024: −25.5% vs market
HINDALCO · Mar 2022: −25.0% vs market
KALYANKJIL · Oct 2024: −24.4% vs market
PHOENIXLTD · Mar 2020: −23.9% vs market
POWERGRID · Mar 2020: −23.8% vs market
BHARATFORG · Jun 2024: −23.3% vs market
RELIANCE · Oct 2020: −22.7% vs market
UPL · Feb 2020: −20.6% vs market
LT · Jan 2020: −18.1% vs market
GODREJIND · Apr 2025: −17.1% vs market
TATAPOWER · Mar 2022: −16.0% vs market
SRF · Sep 2025: −12.9% vs market
JKCEMENT · Jun 2023: −11.4% vs market
ADANIPORTS · Apr 2024: −9.6% vs market
DALBHARAT · Feb 2021: −9.1% vs market
CENTURYPLY · Aug 2025: −5.8% vs market
JUBLPHARMA · Sep 2025: −5.2% vs market
HATSUN · Oct 2025: −4.9% vs market
PRESTIGE · Mar 2024: −2.3% vs market
BRIGADE · Feb 2024: −1.4% vs market
ULTRACEMCO · Jan 2020: +1.3% vs market
BIOCON · Apr 2025: +4.8% vs market
TORNTPOWER · Apr 2025: +5.7% vs market
DLF · Feb 2020: +10.2% vs market
ASAHIINDIA · Sep 2025: +11.4% vs market
M&M · Mar 2023: +11.6% vs market
INDUSTOWER · Apr 2024: +13.2% vs market
GRASIM · Jan 2020: +13.8% vs market
BHARTIARTL · Jul 2022: +14.4% vs market
CCL · Oct 2025: +14.6% vs market
LODHA · Jul 2022: +15.7% vs market
ASTERDM · May 2022: +23.6% vs market
TATACHEM · Aug 2021: +24.8% vs market
APOLLOHOSP · Mar 2020: +41.7% vs market
ADANIENSOL · Oct 2025: +44.6% vs market
ORCHPHARMA · Jun 2023: +55.5% vs market
TVSMOTOR · Nov 2022: +55.6% vs market
CRAFTSMAN · Oct 2025: +62.5% vs market
AEGISLOG · Sep 2025: +79.2% vs market
Similar setups −9.4%All companies −3.7%← worse than the marketbetter than the market →

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

Similar setups' median
−9.4%
All companies' median
−3.7%
Beat the market
38% vs 46%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JSWENERGY
Utilities		 Aug 2024 68x9% +103%−5% −26%
TATAPOWER
Utilities		 Mar 2022 68x8% +131%−7% −16%
BIOCON
Health Technology		 Apr 2025 48x6% +8%−20% +5%
UPL
Process Industries		 Feb 2020 29x10% −11%−26% −21%
ADANIPORTS
Transportation		 Apr 2024 54x10% +95%−6% −10%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
LT
Industrial Services		 Jan 2020 22x13% +4%−14% −18%
GODREJIND
Process Industries		 Apr 2025 75x6% +13%−13% −17%
BHARATFORG
Producer Manufacturing		 Jun 2024 82x13% +100%−7% −23%
How reliable is this?

Matched on P/E, 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, drawdown from 12-month high and interest cover. 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.

How this is built

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 ADANI ENTERPRISES LIMITED. 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.

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

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

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 else looks like this?

Companies with the most similar financial profile today, regardless of industry.

NUVOCO VISTAS CORPORATIONNUVOCO
Non-Energy Minerals
62%similar
ROCEvolatility
PRISM JOHNSONPRSMJOHNSN
Non-Energy Minerals
51%similar
ROCEpromoter holding
STEEL AUTHORITY OF INDIASAIL
Non-Energy Minerals
50%similar
revenueoperating margin
WELSPUN LIVINGWELSPUNLIV
Consumer Non-Durables
43%similar
ROCErevenue
GODREJ INDUSTRIESGODREJIND
Process Industries
42%similar
promoter holdingrevenue
AEGIS LOGISTICSAEGISLOG
Distribution Services
38%similar
EPS growthmarket cap
ENTERO HEALTHCARE SOLENTERO
Distribution Services
10%similar
ROCEP/E
SCHNEIDER ELECTRIC INFRASCHNEIDER
Distribution Services
3%similar
promoter holdingdebt/equity

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jun '21

  1. AugPriceVolume reached 10.0x its 50-day median on 2026-08-31; price -9.8% that day.
  2. JunPeer rankSlipped to the 2nd quartile of Distribution Services on EPS growth (from the top quartile).
  3. JunSharesShare count is up 12.2% over 12 months.
  4. MayPriceVolume reached 5.3x its 50-day median on 2026-05-14; price +8.6% that day.
  5. MarValuationP/E fell below the 10th percentile of its own history to date (16.6x).
  6. MarPriceVolume reached 8.7x its 50-day median on 2026-03-24; price -0.8% that day.
  7. NovPriceVolume reached 9.3x its 50-day median on 2025-11-12; price +5.0% that day.
  8. SepPriceVolume reached 14.8x its 50-day median on 2025-09-19; price +5.1% that day.
Show 22 earlier events
  1. JunPeer rankSlipped to the 3rd quartile of Distribution Services on ROCE (from the 2nd quartile).
  2. JunDividendDividend payout cut from 5% to 2% of profit.
  3. NovPriceVolume reached 21.2x its 50-day median on 2024-11-21; price -22.6% that day.
  4. SepPromoterPromoter holding rose 2.1 pts to 74.7%.
  5. SepPeer rankMoved into the top quartile of Distribution Services on EPS growth (from the 2nd quartile).
  6. AugPriceVolume reached 6.0x its 50-day median on 2024-08-12; price -1.1% that day.
  7. JunPeer rankMoved into the 2nd quartile of Distribution Services on ROCE (from the 3rd quartile).
  8. JunPriceVolume reached 14.0x its 50-day median on 2024-06-04; price -19.3% that day.
  9. JanPriceVolume reached 10.9x its 50-day median on 2024-01-03; price +2.4% that day.
  10. DecPriceVolume reached 17.7x its 50-day median on 2023-12-05; price +16.9% that day.
  11. JunResultsYear-on-year EPS growth turned positive.
  12. JunPeer rankMoved into the top quartile of Distribution Services on EPS growth (from the bottom quartile).
  13. JunDividendDividend payout cut from 14% to 6% of profit.
  14. JunPriceVolume reached 7.5x its 50-day median on 2023-06-28; price +5.1% that day.
  15. AprPeer rankSlipped to the bottom quartile of Distribution Services on EPS growth (from the 3rd quartile).
  16. FebPriceFell 71% from the Dec 2022 peak to the Feb 2023 low.
  17. FebPriceVolume reached 27.1x its 50-day median on 2023-02-03; price +1.4% that day.
  18. SepPriceVolume reached 7.7x its 50-day median on 2022-09-29; price -2.2% that day.
  19. JunResultsRevenue (TTM) reached a new high of ₹69,420 cr.
  20. JunDebtDebt / equity rose above 1.0x (1.87x).
  21. AprPeer rankSlipped to the 3rd quartile of Distribution Services on ROCE (from the 2nd quartile).
  22. JunResultsYear-on-year EPS growth turned negative.

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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1145.6x₹1.11L cr9.9%6.0%1.3x
2026-1043.5x₹1.11L cr10.6%6.0%1.3x
2026-0948.9x₹1.11L cr10.6%6.0%1.3x
2026-0838.1x₹1.00L cr14.0%6.0%1.3x
2026-0740.1x₹1.00L cr14.0%6.0%1.3x
2026-0640.4x₹1.00L cr14.0%6.0%1.3x
2026-0527.8x₹94996 cr32.0%9.0%1.8x
2026-0422.8x₹94996 cr32.0%9.0%1.8x
2026-0316.6x₹94996 cr32.0%9.0%1.8x
2026-0234.5x₹93024 cr19.6%9.0%1.8x
2026-0132.3x₹93024 cr19.6%9.0%1.8x
2025-1235.8x₹93024 cr19.6%9.0%1.8x
2025-1145.0x₹94383 cr16.3%9.0%1.8x
2025-1047.5x₹94383 cr16.3%9.0%1.8x
2025-0947.9x₹94383 cr16.3%9.0%1.8x
2025-0839.4x₹97894 cr18.1%9.0%1.8x
2025-0742.7x₹97894 cr18.1%9.0%1.8x
2025-0646.0x₹97894 cr18.1%9.0%1.8x
2025-0584.2x₹1.00L cr12.7%10.0%1.7x
2025-0476.9x₹1.00L cr12.7%10.0%1.7x
2025-0377.4x₹1.00L cr12.7%10.0%1.7x
2025-0246.9x₹1.02L cr17.8%10.0%1.7x
2025-0151.2x₹1.02L cr17.8%10.0%1.7x
2024-1256.6x₹1.02L cr17.8%10.0%1.7x
2024-1175.8x₹99248 cr12.9%10.0%1.7x
2024-1090.7x₹99248 cr12.9%10.0%1.7x
2024-0996.5x₹99248 cr12.9%10.0%1.7x
2024-08115.4x₹96421 cr9.7%10.0%1.7x
2024-07121.1x₹96421 cr9.7%10.0%1.7x
2024-06121.4x₹96421 cr9.7%10.0%1.7x
2024-05171.4x₹1.28L cr8.4%9.0%1.6x
2024-04153.4x₹1.28L cr8.4%9.0%1.6x
2024-03160.6x₹1.28L cr8.4%9.0%1.6x
2024-02165.0x₹1.28L cr8.4%9.0%1.6x
2024-01157.8x₹1.28L cr8.4%9.0%1.6x
2023-12143.1x₹1.28L cr8.4%9.0%1.6x
2023-11118.5x₹1.28L cr8.4%9.0%1.6x
2023-10115.3x₹1.28L cr8.4%9.0%1.6x
2023-09121.3x₹1.28L cr8.4%9.0%1.6x
2023-08121.5x₹1.28L cr8.4%9.0%1.6x
2023-07125.2x₹1.28L cr8.4%9.0%1.6x
2023-06120.0x₹1.28L cr8.4%9.0%1.6x
2023-05383.7x₹69420 cr4.0%7.0%1.9x
2023-04296.2x₹69420 cr4.0%7.0%1.9x
2023-03269.4x₹69420 cr4.0%7.0%1.9x
2023-02209.9x₹69420 cr4.0%7.0%1.9x
2023-01457.7x₹69420 cr4.0%7.0%1.9x
2022-12593.7x₹69420 cr4.0%7.0%1.9x
2022-11602.9x₹69420 cr4.0%7.0%1.9x
2022-10515.1x₹69420 cr4.0%7.0%1.9x
2022-09531.8x₹69420 cr4.0%7.0%1.9x
2022-08491.6x₹69420 cr4.0%7.0%1.9x
2022-07395.4x₹69420 cr4.0%7.0%1.9x
2022-06337.1x₹69420 cr4.0%7.0%1.9x
2022-05280.6x₹39537 cr7.0%8.0%0.9x
2022-04301.8x₹39537 cr7.0%8.0%0.9x
2022-03260.8x₹39537 cr7.0%8.0%0.9x
2022-02212.9x₹39537 cr7.0%8.0%0.9x
2022-01222.0x₹39537 cr7.0%8.0%0.9x
2021-12221.3x₹39537 cr7.0%8.0%0.9x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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