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ADANI GREEN ENERGY LTD (ADANIGREEN)

Utilities · Electric Utilities · 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.49 / 100
Profitability 66Growth 76Balance sheet 4
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.74 / 100
Price 78Earnings 54FII/DII 89

Passes these screensHigh Momentum

Compare withADANI POWERNTPCADANI ENERGY SOLUTIONS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,448.9 latest close · −6.9% over the last 90 sessions

₹1,200₹1,400₹1,600Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,200₹1,400₹1,600Jul 3Sep 4Nov 9

₹1,448.9 month-end · +38.2% over 12 months

₹750₹1,000₹1,250₹1,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹750₹1,000₹1,250₹1,500Nov '25May '26Nov '26

₹1,448.9 month-end · +40.8% over 3 years

₹1,000₹1,500₹2,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹1,500₹2,000Nov '23May '25Nov '26

₹1,448.9 month-end · +3969.9% since Jan '19

₹0₹1,000₹2,000₹3,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹1,000₹2,000₹3,000Jan '19Dec '22Nov '26

52-week range ₹765.00 to ₹1631.50 · 1-year volatility 42.8%

Was the rally earned?

+38%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 98.1x to 133.8x); per-share earnings added 2 points.
  • The share count fell 4%.
Net profit growth: −3 pts. Points of the price return explained by net profit growing (or shrinking).−3 ptsNet profit growthP/E change: +37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+37 ptsP/E changeShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price.+5 ptsShare count changeShare price: +38%+38%Share priceNet profit growth: −3 pts. Points of the price return explained by net profit growing (or shrinking).−3ProfitP/E change: +37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+37P/EShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price.+5SharesShare price: +38%+38%Share price
Net profit growth-3 ptsNet profit fell about 3%, which lowers the price.
P/E change+37 ptsThe P/E rose from 98.1x to 133.8x, which lifts the price.
Share count change+5 ptsShare count fell 4%, which lifts the price.
+41%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 68 points, but investors now pay less per rupee of profit (P/E 167.3x to 133.8x), which took 27 points back.
  • The share count rose 25%.
Net profit growth: +94 pts. Points of the price return explained by net profit growing (or shrinking).+94 ptsNet profit growthP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27 ptsP/E changeShare count change: −26 pts. Points of the price return explained by the share count changing. More shares count against the price.−26 ptsShare count changeShare price: +41%+41%Share priceNet profit growth: +94 pts. Points of the price return explained by net profit growing (or shrinking).+94ProfitP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27P/EShare count change: −26 pts. Points of the price return explained by the share count changing. More shares count against the price.−26SharesShare price: +41%+41%Share price
Net profit growth+94 ptsNet profit rose about 120%, which lifts the price.
P/E change-27 ptsThe P/E fell from 167.3x to 133.8x, which lowers the price.
Share count change-26 ptsShare count rose 25%, which lowers the price.
+12%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 221 points, but investors now pay less per rupee of profit (P/E 966.7x to 133.8x), which took 209 points back.
  • The share count rose 46%.
Net profit growth: +261 pts. Points of the price return explained by net profit growing (or shrinking).+261 ptsNet profit growthP/E change: −209 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−209 ptsP/E changeShare count change: −40 pts. Points of the price return explained by the share count changing. More shares count against the price.−40 ptsShare count changeShare price: +12%+12%Share priceNet profit growth: +261 pts. Points of the price return explained by net profit growing (or shrinking).+261ProfitP/E change: −209 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−209P/EShare count change: −40 pts. Points of the price return explained by the share count changing. More shares count against the price.−40SharesShare price: +12%+12%Share price
Net profit growth+261 ptsNet profit rose about 1077%, which lifts the price.
P/E change-209 ptsThe P/E fell from 966.7x to 133.8x, which lowers the price.
Share count change-40 ptsShare count rose 46%, which lowers 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 ADANI POWER

How rough has the ride been?

Maximum drawdown-84.4%not yet recovered
1-year volatility42.8%annualised
Beta vs sector index1.453-year daily, correlation 0.69
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−83.6% 0%−25%−50%−75%2020202220242026−83.6%
Largest drawdowns

-84.4% (2022-04 peak to 2023-02 low, not yet recovered)

-49.3% (2020-01 peak to 2020-03 low, recovered 2020-05)

-35.6% (2021-05 peak to 2021-08 low, recovered 2021-11)

Most recent volume spikes

2026-10-08: 6.2x the 50-day median, price -7.9% that day

2026-10-07: 5.3x the 50-day median, price +2.2% that day

2026-10-01: 5.1x the 50-day median, price -0.1% 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?

133.8xP/E todayWithin its usual range
Against its own history27th percentile
CheapestMedian 226.2xDearest

Usual range 102.3x to 913.5x since 2019-01.

Against Utilities133.8x vs 27.3x
This company
133.8x
Sector median
27.3x

389% above the Utilities median.

7.4x722.1x1436.7x2151.3xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x722.1x1436.7x2151.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianUtilities median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianUtilities 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 Utilities is valued

Where does it rank among Utilities peers?

Each cell is the company's percentile rank among its Utilities 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

  • ROCE33rd▼ 8 pts vs a year ago
  • Op. margin99th▲ 6 pts vs a year ago
  • Revenue growth52nd▼ 28 pts vs a year ago
  • EPS growth45th▼ 29 pts vs a year ago
  • Debt/equity ↓4thflat vs a year ago
  • Cash cycle ↓52nd▼ 15 pts vs a year ago
  • P/E ↓11th▼ 8 pts vs a year ago
  • 12M momentum89th▲ 45 pts 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 Utilities sector page Watch it move against Utilities in the Observatory

What is the price implying?

~46%annual earnings growth implied by the price

At a P/E of 213.9x, the price would imply about 46.1%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

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

What prices imply across Utilities The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1448.90
P/E
133.8x
ROCE
7.0%
Market Cap
₹2.39L cr
Revenue (TTM)
₹13559 cr
P/S
17.6x
P/B
12.0x
ROE
8.9%
Operating Margin
90.0%
Debt / Equity
5.2x
Promoter Holding
62.4%
12M Momentum
38.2%

52-week range

₹765.00₹1631.50
79% of the way from its 52-week low to its high

Price risk

1Y volatility
42.8%
Beta vs sector
1-year daily
1.64

Balance sheet & cash

Interest cover
operating profit ÷ interest
1.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
4.99x
Share count, 1Y
+4.0%

Are profits backed by cash?

3 of 6checks within range2 beyond a threshold
Other income reliance39%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 38.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate11%Near threshold

Median quarterly effective tax rate over about 2.5 years: 11.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion4.99xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 4.99x (cash from operations ₹26,212 cr, net profit ₹5,248 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+7 daysWithin range

Debtor days are above the median of the previous three fiscal years by 7 days (60 vs 53). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress19% of fixed assetsWithin range

Capital work-in-progress is 19% 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 2 years, FIIs trimmed 6.2 pts; promoters added 6.1 pts; DIIs added 3.3 pts.
  • The number of shareholders rose from 6.9 lakh to 8.0 lakh (+15%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters56.4%62.4%+6.1 pts
FIIs18.0%11.8%-6.2 pts
DIIs1.5%4.8%+3.3 pts
Public and others24.1%20.9%-3.2 pts

Number of shareholders

8.0 lakhshareholders+15% since Dec '23
6.3L7.5L8.7L10.0L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 6.9 lakh
Mar '24: 6.7 lakh
Jun '24: 7.4 lakh
Sep '24: 6.3 lakh
Dec '24: 9.0 lakh
Mar '25: 10.0 lakh
Jun '25: 9.9 lakh
Sep '25: 9.8 lakh
Dec '25: 9.4 lakh
Mar '26: 9.3 lakh
Jun '26: 8.0 lakh
 6.3L7.5L8.7L10.0L Dec '23Dec '24Dec '25Jun '26
Dec '23: 6.9 lakh
Mar '24: 6.7 lakh
Jun '24: 7.4 lakh
Sep '24: 6.3 lakh
Dec '24: 9.0 lakh
Mar '25: 10.0 lakh
Jun '25: 9.9 lakh
Sep '25: 9.8 lakh
Dec '25: 9.4 lakh
Mar '26: 9.3 lakh
Jun '26: 8.0 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

−16.6%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like ADANI GREEN ENERGY 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 −26% to 0% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −13.9%, 80% range −18.1% to −10.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ADANIENSOL · Jun 2022: −74.2% vs market
ASIANTILES · Feb 2020: −44.4% vs market
UNITDSPR · May 2020: −40.8% vs market
LEMONTREE · Aug 2025: −40.5% vs market
STEELXIND · Mar 2022: −40.5% vs market
WESTLIFE · Jul 2023: −40.0% vs market
JMFINANCIL · Feb 2020: −36.8% vs market
JBMA · May 2024: −34.8% vs market
IRB · Apr 2024: −34.0% vs market
TORNTPHARM · Apr 2020: −33.0% vs market
JSWENERGY · Jun 2024: −30.4% vs market
JUBLFOOD · Aug 2021: −28.0% vs market
SJVN · Sep 2024: −26.1% vs market
SAMHI · Jul 2025: −24.5% vs market
BHARATFORG · May 2024: −24.1% vs market
APOLLOHOSP · Nov 2021: −23.9% vs market
BATAINDIA · Jul 2022: −22.8% vs market
BHARTIHEXA · May 2025: −20.1% vs market
NETWORK18 · Oct 2021: −19.9% vs market
BRIGADE · May 2024: −18.9% vs market
ADANIPOWER · Apr 2022: −18.7% vs market
JSWSTEEL · Apr 2021: −18.1% vs market
SOBHA · Feb 2024: −17.8% vs market
DLF · Jan 2020: −17.6% vs market
TATAPOWER · May 2022: −16.8% vs market
CHALET · May 2025: −16.4% vs market
ADANIPORTS · Feb 2024: −15.6% vs market
ITI · May 2020: −14.3% vs market
EIHAHOTELS · Jul 2024: −12.6% vs market
PRESTIGE · Oct 2025: −12.0% vs market
MOTILALOFS · Jul 2020: −11.7% vs market
GODREJPROP · Mar 2024: −10.6% vs market
SUZLON · Jan 2022: −9.9% vs market
ASAHIINDIA · Jan 2022: −8.1% vs market
MHRIL · Apr 2023: −5.2% vs market
DEVYANI · Sep 2022: −5.1% vs market
TARC · May 2024: −3.3% vs market
LODHA · Mar 2024: +1.6% vs market
PURVA · Jan 2024: +4.5% vs market
ADANIENT · May 2022: +5.4% vs market
BHARTIARTL · Jun 2022: +6.8% vs market
TVSMOTOR · May 2023: +16.5% vs market
TRENT · Feb 2024: +30.3% vs market
HATSUN · Nov 2020: +32.5% vs market
BLUEDART · Aug 2021: +36.0% vs market
VBL · Feb 2023: +45.0% vs market
PHOENIXLTD · Apr 2023: +47.5% vs market
LINDEINDIA · Feb 2020: +75.9% vs market
SCHNEIDER · May 2023: +93.3% vs market
GVT&D · Jun 2025: +109.0% vs market
Similar setups −16.6%All companies −2.7%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−16.6%
All companies' median
−2.7%
Beat the market
26% vs 47%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADANIENSOL
Utilities		 Jun 2022 226x10% +134%−12% −74%
NETWORK18
Consumer Services		 Oct 2021 249x10% +123%−8% −20%
JSWENERGY
Utilities		 Jun 2024 70x9% +169%−2% −30%
BHARTIARTL
Communications		 Jun 2022 95x11% +33%−12% +7%
LODHA
Finance		 Mar 2024 225x9% +144%−7% +2%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GVT&D
Producer Manufacturing		 Jun 2025 302x— +58%−3% +109%
ADANIENT
Distribution Services		 May 2022 281x8% +65%−10% +5%
PRESTIGE
Finance		 Oct 2025 143x8% +7%−8% −12%
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: drawdown from 12-month high, 12-month momentum and P/E. 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 GREEN ENERGY LTD. 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.

MOTILAL OSWAL FINANCIAL SERVICMOTILALOFS
Finance
62%similar
revenueoperating margin
PRESTIGE ESTATES PROJECTS LIMIPRESTIGE
Finance
61%similar
revenuepromoter holding
GMR AIRPORTSGMRAIRPORT
Transportation
55%similar
revenueP/E
JSW INFRASTRUCTUREJSWINFRA
Industrial Services
52%similar
revenue growthEPS growth
TORRENT PHARMACEUTICALSTORNTPHARM
Health Technology
49%similar
market caprevenue
ADANI ENERGY SOLUTIONSADANIENSOL
Utilities
66%similar
market capdebt/equity
JSW ENERGYJSWENERGY
Utilities
61%similar
debt/equityrevenue
ACME SOLAR HOLDINGSACMESOLAR
Utilities
45%similar
operating margindebt/equity

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

What changed?

30 events since Jun '22

  1. OctPriceVolume reached 6.2x its 50-day median on 2026-10-08; price -7.9% that day.
  2. SepPeer rankSlipped to the 3rd quartile of Utilities on EPS growth (from the 2nd quartile).
  3. AprPriceVolume reached 5.5x its 50-day median on 2026-04-08; price +11.3% that day.
  4. MarPeer rankSlipped to the 2nd quartile of Utilities on EPS growth (from the top quartile).
  5. JanPriceVolume reached 14.5x its 50-day median on 2026-01-23; price -14.5% that day.
  6. OctPriceVolume reached 23.8x its 50-day median on 2025-10-29; price +10.8% that day.
  7. SepPriceVolume reached 27.4x its 50-day median on 2025-09-22; price +11.8% that day.
  8. JunPeer rankSlipped to the 3rd quartile of Utilities on ROCE (from the 2nd quartile).
Show 22 earlier events
  1. MarPeer rankMoved into the top quartile of Utilities on EPS growth (from the 2nd quartile).
  2. FebPriceVolume reached 16.0x its 50-day median on 2025-02-28; price -4.6% that day.
  3. DecPromoterPromoter holding rose 3.4 pts to 60.9%.
  4. DecInstitutionsFII + DII holding fell 3.1 pts over 2 quarters to 16.6%.
  5. DecValuationP/E fell below the 10th percentile of its own history to date (146.0x).
  6. NovPriceVolume reached 40.3x its 50-day median on 2024-11-25; price -7.9% that day.
  7. AugPriceVolume reached 16.7x its 50-day median on 2024-08-01; price +3.0% that day.
  8. JunResultsRevenue (TTM) reached a new high of ₹9,220 cr.
  9. JunPeer rankMoved into the 2nd quartile of Utilities on ROCE (from the 3rd quartile).
  10. MayPriceVolume reached 13.6x its 50-day median on 2024-05-15; price +2.8% that day.
  11. JanDebtDebt / equity halved over 12 months to 7.42x.
  12. JanPriceVolume reached 8.3x its 50-day median on 2024-01-24; price -2.4% that day.
  13. DecPriceVolume reached 37.1x its 50-day median on 2023-12-06; price +15.9% that day.
  14. AugPriceVolume reached 9.9x its 50-day median on 2023-08-07; price -4.6% that day.
  15. JunResultsRevenue (TTM) reached a new high of ₹7,792 cr.
  16. JunValuationP/E fell below the 10th percentile of its own history to date (153.8x).
  17. JunDebtDebt / equity halved over 12 months to 7.42x.
  18. JunPriceVolume reached 35.8x its 50-day median on 2023-06-28; price -0.3% that day.
  19. FebPriceFell 84% from the Apr 2022 peak to the Feb 2023 low.
  20. FebPriceVolume reached 20.1x its 50-day median on 2023-02-07; price -5.0% that day.
  21. JulPriceVolume reached 12.1x its 50-day median on 2022-07-15; price -0.7% that day.
  22. JunResultsRevenue (TTM) reached a new high of ₹5,133 cr.

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
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11133.8x₹13559 cr8.9%7.0%5.2x
2026-10119.9x₹13559 cr9.0%7.0%5.2x
2026-09118.0x₹13559 cr9.0%7.0%5.2x
2026-08120.4x₹12928 cr8.3%7.0%5.2x
2026-07137.1x₹12928 cr8.3%7.0%5.2x
2026-06147.9x₹12928 cr8.3%7.0%5.2x
2026-05161.6x₹12499 cr12.7%9.0%6.6x
2026-04134.4x₹12499 cr12.7%9.0%6.6x
2026-0388.4x₹12499 cr12.7%9.0%6.6x
2026-0275.8x₹12221 cr16.0%9.0%6.6x
2026-0168.2x₹12221 cr16.0%9.0%6.6x
2025-1281.3x₹12221 cr16.0%9.0%6.6x
2025-1198.1x₹12218 cr15.1%9.0%6.6x
2025-10106.6x₹12218 cr15.1%9.0%6.6x
2025-0996.1x₹12218 cr15.1%9.0%6.6x
2025-08100.2x₹11212 cr13.7%9.0%6.6x
2025-07108.0x₹11212 cr13.7%9.0%6.6x
2025-06112.5x₹11212 cr13.7%9.0%6.6x
2025-05117.7x₹10666 cr16.3%10.0%6.6x
2025-04104.5x₹10666 cr16.3%10.0%6.6x
2025-03110.1x₹10666 cr16.3%10.0%6.6x
2025-02108.6x₹10637 cr14.5%10.0%6.6x
2025-01139.9x₹10637 cr14.5%10.0%6.6x
2024-12146.0x₹10637 cr14.5%10.0%6.6x
2024-11171.0x₹9852 cr13.3%10.0%6.6x
2024-10206.5x₹9852 cr13.3%10.0%6.6x
2024-09245.8x₹9852 cr13.3%10.0%6.6x
2024-08264.9x₹9220 cr10.7%10.0%6.6x
2024-07266.2x₹9220 cr10.7%10.0%6.6x
2024-06257.8x₹9220 cr10.7%10.0%6.6x
2024-05310.3x₹7792 cr11.1%8.0%7.4x
2024-04292.3x₹7792 cr11.1%8.0%7.4x
2024-03298.4x₹7792 cr11.1%8.0%7.4x
2024-02308.1x₹7792 cr11.1%8.0%7.4x
2024-01271.5x₹7792 cr11.1%8.0%7.4x
2023-12259.7x₹7792 cr11.1%8.0%7.4x
2023-11167.3x₹7792 cr11.1%8.0%7.4x
2023-10148.2x₹7792 cr11.1%8.0%7.4x
2023-09160.5x₹7792 cr11.1%8.0%7.4x
2023-08151.0x₹7792 cr11.1%8.0%7.4x
2023-07177.8x₹7792 cr11.1%8.0%7.4x
2023-06153.8x₹7792 cr11.1%8.0%7.4x
2023-05312.4x₹5133 cr15.6%8.0%20.2x
2023-04303.8x₹5133 cr15.6%8.0%20.2x
2023-03281.5x₹5133 cr15.6%8.0%20.2x
2023-02155.0x₹5133 cr15.6%8.0%20.2x
2023-01391.0x₹5133 cr15.6%8.0%20.2x
2022-12617.2x₹5133 cr15.6%8.0%20.2x
2022-11676.2x₹5133 cr15.6%8.0%20.2x
2022-10671.9x₹5133 cr15.6%8.0%20.2x
2022-09722.3x₹5133 cr15.6%8.0%20.2x
2022-08778.3x₹5133 cr15.6%8.0%20.2x
2022-07694.8x₹5133 cr15.6%8.0%20.2x
2022-06616.5x₹5133 cr15.6%8.0%20.2x
2022-051409.7x₹3124 cr6.9%10.0%11.0x
2022-042151.3x₹3124 cr6.9%10.0%11.0x
2022-031428.9x₹3124 cr6.9%10.0%11.0x
2022-021375.7x₹3124 cr6.9%10.0%11.0x
2022-011401.4x₹3124 cr6.9%10.0%11.0x
2021-12992.7x₹3124 cr6.9%10.0%11.0x
2021-11966.7x₹3124 cr6.9%10.0%11.0x
2021-10860.3x₹3124 cr6.9%10.0%11.0x
2021-09855.7x₹3124 cr6.9%10.0%11.0x
2021-08797.3x₹3124 cr6.9%10.0%11.0x
2021-07658.4x₹3124 cr6.9%10.0%11.0x
2021-06839.5x₹3124 cr6.9%10.0%11.0x
2021-05—₹2549 cr-2.4%8.0%6.3x
2021-04—₹2549 cr-2.4%8.0%6.3x
2021-03—₹2549 cr-2.4%8.0%6.3x
2021-02—₹2549 cr-2.4%8.0%6.3x
2021-01—₹2549 cr-2.4%8.0%6.3x
2020-12—₹2549 cr-2.4%8.0%6.3x
2020-11—₹2549 cr-2.4%8.0%6.3x
2020-10—₹2549 cr-2.4%8.0%6.3x
2020-09—₹2549 cr-2.4%8.0%6.3x
2020-08—₹2549 cr-2.4%8.0%6.3x
2020-07—₹2549 cr-2.4%8.0%6.3x
2020-06—₹2549 cr-2.4%8.0%6.3x
2020-05—₹2058 cr-20.5%4.0%5.8x
2020-04—₹2058 cr-20.5%4.0%5.8x
2020-03—₹2058 cr-20.5%4.0%5.8x
2020-02—₹2058 cr-20.5%4.0%5.8x
2020-01—₹2058 cr-20.5%4.0%5.8x
2019-12—₹2058 cr-20.5%4.0%5.8x
2019-11—₹2058 cr-20.5%4.0%5.8x
2019-10—₹2058 cr-20.5%4.0%5.8x
2019-09—₹2058 cr-20.5%4.0%5.8x
2019-08—₹2058 cr-20.5%4.0%5.8x
2019-07—₹2058 cr-20.5%4.0%5.8x
2019-06—₹2058 cr-20.5%4.0%5.8x
2019-05—₹1480 cr-8.6%4.0%7.4x
2019-04—₹1480 cr-8.6%4.0%7.4x
2019-03—₹1480 cr-8.6%4.0%7.4x
2019-02—₹1480 cr-8.6%4.0%7.4x
2019-01—₹1480 cr-8.6%4.0%7.4x

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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