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ADANI PORT AND SPECIAL ECONO (ADANIPORTS)

Transportation · Other Transportation · 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.70 / 100
Profitability 80Growth 82Balance sheet 49
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.65 / 100
Price 87Earnings 38FII/DII 70

Passes these screensHigh MomentumNear 52-week high

Compare withGMR AIRPORTSNAVKAR CORPORATIONGKW

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,942.7 latest close · +3.7% over the last 90 sessions

₹1,600₹1,800Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,600₹1,800Jul 3Sep 4Nov 9

₹1,942.7 month-end · +28.1% over 12 months

₹1,400₹1,600₹1,800₹2,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,400₹1,600₹1,800₹2,000Nov '25May '26Nov '26

₹1,942.7 month-end · +135.3% over 3 years

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

₹1,942.7 month-end · +473.7% since Jan '19

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

52-week range ₹1292.00 to ₹1962.00 · 1-year volatility 31.0%

Was the rally earned?

+28%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings added 11 points and the multiple added 17 points (P/E 29.0x to 33.6x).
  • The share count rose 7%.
Net profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19 ptsNet profit growthP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17 ptsP/E changeShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8 ptsShare count changeShare price: +28%+28%Share priceNet profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19ProfitP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17P/EShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8SharesShare price: +28%+28%Share price
Net profit growth+19 ptsNet profit rose about 18%, which lifts the price.
P/E change+17 ptsThe P/E rose from 29.0x to 33.6x, which lifts the price.
Share count change-8 ptsShare count rose 7%, which lowers the price.
+135%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 135 points to the rise, while the multiple moved less (P/E 33.6x to 33.6x).
  • The share count rose 5%.
Net profit growth: +143 pts. Points of the price return explained by net profit growing (or shrinking).+143 ptsNet profit growthP/E change: 0 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.0 ptsP/E changeShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8 ptsShare count changeShare price: +135%+135%Share priceNet profit growth: +143 pts. Points of the price return explained by net profit growing (or shrinking).+143ProfitP/E change: 0 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.0P/EShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8SharesShare price: +135%+135%Share price
Net profit growth+143 ptsNet profit rose about 147%, which lifts the price.
P/E change0 ptsThe P/E rose from 33.6x to 33.6x, which lifts the price.
Share count change-8 ptsShare count rose 5%, which lowers the price.
+184%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 151 points to the rise, while the multiple moved less (P/E 27.8x to 33.6x).
  • The share count rose 12%.
Net profit growth: +171 pts. Points of the price return explained by net profit growing (or shrinking).+171 ptsNet profit growthP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33 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: +184%+184%Share priceNet profit growth: +171 pts. Points of the price return explained by net profit growing (or shrinking).+171ProfitP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33P/EShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20SharesShare price: +184%+184%Share price
Net profit growth+171 ptsNet profit rose about 164%, which lifts the price.
P/E change+33 ptsThe P/E rose from 27.8x to 33.6x, which lifts the price.
Share count change-20 ptsShare count rose 12%, 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 GMR AIRPORTS

How rough has the ride been?

Maximum drawdown-52.3%recovered 2023-12
1-year volatility31.0%annualised
Beta vs sector index0.913-year daily, correlation 0.61
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−48.6% 0%−20%−40%2020202220242026−48.6%
Largest drawdowns

-52.3% (2022-09 peak to 2023-02 low, recovered 2023-12)

-51.3% (2019-06 peak to 2020-03 low, recovered 2020-12)

-33.8% (2024-08 peak to 2025-03 low, recovered 2026-04)

Most recent volume spikes

2026-10-12: 6x the 50-day median, price -0.4% that day

2026-10-09: 5.5x the 50-day median, price +3.1% that day

2026-08-31: 5.7x the 50-day median, price -6.7% 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?

33.6xP/E todayWithin its usual range
Against its own history79th percentile
CheapestMedian 28.6xDearest

Usual range 19.0x to 39.4x since 2019-01.

Against Transportation33.6x vs 15.9x
This company
33.6x
Sector median
15.9x

111% above the Transportation median.

10.7x26.6x42.6x58.5xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.7x26.6x42.6x58.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTransportation median

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

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

Where does it rank among Transportation peers?

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

  • ROCE65th▲ 5 pts vs a year ago
  • Op. margin94th▼ 4 pts vs a year ago
  • Revenue growth71st▲ 4 pts vs a year ago
  • EPS growth54th▼ 22 pts vs a year ago
  • Debt/equity ↓46th▲ 9 pts vs a year ago
  • Cash cycle ↓61stflat vs a year ago
  • P/E ↓28th▼ 8 pts vs a year ago
  • 12M momentum88thflat 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 Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 52.1x, a holder earning 12%/yr needs earnings to grow about 26.0%/yr for 10 years, then trade at 15x.

Delivered14.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+11.6 ptsimplied minus delivered
Rank288thmost demanding of 856

Over time

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

0%14%28% Jan 2019Nov 2026 0%14%28% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x27.6%28.8%29.9%
15x24.9%26.0%27.2%
20x21.5%22.6%23.7%

Drag a slider to test other assumptions

Implied: 26.0%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 16%/yr (7.0 yrs)
  • Jan 2021Price implied 19%/yr; EPS has since grown 20%/yr (6.0 yrs)
  • Jan 2022Price implied 19%/yr; EPS has since grown 17%/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 Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1942.70
P/E
33.6x
ROCE
14.0%
Market Cap
₹4.48L cr
Revenue (TTM)
₹40431 cr
P/S
11.1x
P/B
4.7x
ROE
13.9%
Operating Margin
58.0%
Debt / Equity
0.7x
Promoter Holding
66.0%
12M Momentum
28.1%

52-week range

₹1292.00₹1962.00
97% of the way from its 52-week low to its high

Price risk

1Y volatility
31.0%
Beta vs sector
1-year daily
0.82

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.65x
Share count, 1Y
+6.7%

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance18%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 18.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate15%Within range

Median quarterly effective tax rate over about 2.5 years: 15.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.65xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.65x (cash from operations ₹52,600 cr, net profit ₹31,947 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. 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 progress10% of fixed assetsWithin range

Capital work-in-progress is 10% 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, DIIs added 1.6 pts; FIIs added 0.9 pts.
  • The number of shareholders rose from 9.7 lakh to 10.7 lakh (+11%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters65.9%66.0%+0.1 pts
FIIs14.7%15.6%+0.9 pts
DIIs12.0%13.6%+1.6 pts
Public and others7.4%4.8%-2.6 pts

Number of shareholders

10.7 lakhshareholders+11% since Dec '23
9.7L10.7L11.7L12.7L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 9.7 lakh
Mar '24: 9.9 lakh
Jun '24: 12.7 lakh
Sep '24: 11.9 lakh
Dec '24: 12.5 lakh
Mar '25: 12.6 lakh
Jun '25: 11.9 lakh
Sep '25: 11.7 lakh
Dec '25: 11.2 lakh
Mar '26: 11.0 lakh
Jun '26: 10.7 lakh
 9.7L10.7L11.7L12.7L Dec '23Dec '24Dec '25Jun '26
Dec '23: 9.7 lakh
Mar '24: 9.9 lakh
Jun '24: 12.7 lakh
Sep '24: 11.9 lakh
Dec '24: 12.5 lakh
Mar '25: 12.6 lakh
Jun '25: 11.9 lakh
Sep '25: 11.7 lakh
Dec '25: 11.2 lakh
Mar '26: 11.0 lakh
Jun '26: 10.7 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

−20.2%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like ADANI PORT AND SPECIAL ECONO 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 −31% to −6% vs the market, against −1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −18.8%, 80% range −28.3% to −14.0%), but the matches cluster in only 5 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
UNITDSPR · Feb 2020: −42.7% vs market
DRREDDY · Sep 2020: −42.5% vs market
LEMONTREE · Aug 2025: −40.5% vs market
LODHA · Apr 2025: −36.7% vs market
SYNGENE · Jun 2023: −36.7% vs market
METROBRAND · Sep 2025: −35.1% vs market
FLUOROCHEM · Sep 2022: −33.4% vs market
ERIS · Aug 2025: −33.1% vs market
DALBHARAT · Jun 2021: −32.2% vs market
JKCEMENT · Mar 2021: −32.1% vs market
RELIANCE · Aug 2020: −31.8% vs market
OBEROIRLTY · Dec 2024: −31.5% vs market
ADANIPOWER · May 2024: −31.5% vs market
PHOENIXLTD · Feb 2020: −30.2% vs market
SHREECEM · Jun 2020: −27.0% vs market
ZYDUSLIFE · Nov 2020: −26.7% vs market
TORNTPHARM · Jul 2020: −26.4% vs market
RAMCOCEM · Nov 2020: −25.2% vs market
JSWENERGY · Apr 2024: −25.1% vs market
INDHOTEL · Apr 2025: −24.3% vs market
BHARTIHEXA · Jun 2025: −24.2% vs market
POWERGRID · Mar 2020: −23.8% vs market
JSWINFRA · Mar 2025: −22.6% vs market
GODREJCP · May 2020: −22.4% vs market
TORNTPOWER · May 2020: −21.9% vs market
CIPLA · Jul 2020: −18.5% vs market
CHALET · Aug 2025: −16.9% vs market
WIPRO · Apr 2021: −16.5% vs market
LT · Sep 2023: −16.3% vs market
BIOCON · Mar 2020: −15.9% vs market
MEDANTA · Nov 2023: −13.1% vs market
RAINBOW · Aug 2025: −12.6% vs market
MAXHEALTH · Jun 2025: −11.7% vs market
MANKIND · Jul 2025: −8.7% vs market
BHARTIARTL · Jun 2025: −8.0% vs market
SUNPHARMA · Jul 2020: −7.1% vs market
KIMS · Jan 2025: −6.6% vs market
TITAN · Feb 2022: −5.9% vs market
NHPC · Oct 2025: −3.2% vs market
AARTIIND · May 2020: −1.3% vs market
BHARATFORG · Jan 2023: +1.6% vs market
ULTRACEMCO · Oct 2020: +4.5% vs market
FORTIS · Jun 2025: +20.2% vs market
PRESTIGE · Nov 2023: +27.3% vs market
APOLLOHOSP · Sep 2020: +27.5% vs market
SOLARINDS · Nov 2021: +28.2% vs market
SRF · Oct 2020: +50.1% vs market
ORCHPHARMA · Jun 2023: +55.5% vs market
VBL · Jul 2022: +58.9% vs market
NAVINFLUOR · Jun 2025: +59.2% vs market
Similar setups −20.2%All companies −1.4%← 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
−20.2%
All companies' median
−1.4%
Beat the market
20% vs 49%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JSWINFRA
Industrial Services		 Mar 2025 51x16% +30%−10% −23%
ULTRACEMCO
Non-Energy Minerals		 Oct 2020 23x12% +10%−2% +5%
TORNTPHARM
Health Technology		 Jul 2020 44x15% +59%0% −26%
RELIANCE
Energy Minerals		 Aug 2020 34x11% +67%−5% −32%
ZYDUSLIFE
Health Technology		 Nov 2020 39x11% +77%0% −27%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INDHOTEL
Consumer Services		 Apr 2025 62x15% +37%−12% −24%
SRF
Process Industries		 Oct 2020 25x14% +53%−2% +50%
BHARTIHEXA
Communications		 Jun 2025 65x17% +75%0% −24%
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, revenue growth and ROCE. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 PORT AND SPECIAL ECONO. 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.

JSW INFRASTRUCTUREJSWINFRA
Industrial Services
70%similar
ROCEoperating margin
MOTILAL OSWAL FINANCIAL SERVICMOTILALOFS
Finance
70%similar
operating marginP/E
LODHA DEVELOPERSLODHA
Finance
69%similar
revenue growthoperating margin
MANKIND PHARMAMANKIND
Health Technology
66%similar
ROCEmarket cap
TORRENT PHARMACEUTICALSTORNTPHARM
Health Technology
66%similar
market capROCE
GMR AIRPORTSGMRAIRPORT
Transportation
54%similar
promoter holdingoperating margin
CONTAINER CORPORATION OF INDIACONCOR
Transportation
24%similar
ROCEvolatility
VRL LOGISTICSVRLLOG
Transportation
24%similar
volatilitydebt/equity

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

What changed?

30 events since Mar '23

  1. OctPriceVolume reached 6.0x its 50-day median on 2026-10-12; price -0.4% that day.
  2. AugPriceVolume reached 5.7x its 50-day median on 2026-08-31; price -6.7% that day.
  3. JunPeer rankSlipped to the 2nd quartile of Transportation on EPS growth (from the top quartile).
  4. JunSharesShare count is up 6.7% over 12 months.
  5. AprPriceRegained the 2024-08 peak, 13 months after the low.
  6. AprPeer rankMoved into the top quartile of Transportation on EPS growth (from the 2nd quartile).
  7. MarPromoterPromoter holding rose 2.1 pts to 68.0%.
  8. FebPriceVolume reached 7.7x its 50-day median on 2026-02-03; price +9.1% that day.
Show 22 earlier events
  1. DecPeer rankSlipped to the 2nd quartile of Transportation on EPS growth (from the top quartile).
  2. SepPeer rankMoved into the top quartile of Transportation on EPS growth (from the 2nd quartile).
  3. AugPriceVolume reached 7.4x its 50-day median on 2025-08-18; price +2.1% that day.
  4. JunPeer rankSlipped to the 2nd quartile of Transportation on EPS growth (from the top quartile).
  5. MayPriceVolume reached 6.3x its 50-day median on 2025-05-05; price +6.3% that day.
  6. MarPriceFell 34% from the Aug 2024 peak to the Mar 2025 low.
  7. JanPriceVolume reached 5.1x its 50-day median on 2025-01-30; price -1.8% that day.
  8. NovPriceVolume reached 28.3x its 50-day median on 2024-11-21; price -13.6% that day.
  9. JulValuationP/E crossed above the 90th percentile of its own history to date (41.8x).
  10. JunResultsRevenue (TTM) reached a new high of ₹26,711 cr.
  11. JunPeer rankMoved into the 2nd quartile of Transportation on ROCE (from the 3rd quartile).
  12. JunDebtDebt / equity fell below 1.0x (0.94x).
  13. JunPriceVolume reached 15.2x its 50-day median on 2024-06-04; price -21.1% that day.
  14. JanPriceVolume reached 8.4x its 50-day median on 2024-01-03; price +1.5% that day.
  15. DecPriceRegained the 2022-09 peak, 10 months after the low.
  16. DecValuationP/E crossed above the 90th percentile of its own history to date (41.7x).
  17. DecPriceVolume reached 15.7x its 50-day median on 2023-12-05; price +15.3% that day.
  18. AugPriceVolume reached 5.4x its 50-day median on 2023-08-18; price +3.2% that day.
  19. JunResultsYear-on-year EPS growth turned positive.
  20. JunPeer rankMoved into the 2nd quartile of Transportation on EPS growth (from the 3rd quartile).
  21. MayPriceVolume reached 7.7x its 50-day median on 2023-05-23; price +0.6% that day.
  22. MarPeer rankMoved into the 3rd quartile of Transportation on EPS growth (from the bottom quartile).

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
2026-1133.6x₹40431 cr13.9%14.0%0.7x
2026-1032.0x₹40431 cr13.7%14.0%0.7x
2026-0931.1x₹40431 cr13.7%14.0%0.7x
2026-0827.7x₹38736 cr13.3%14.0%0.7x
2026-0729.5x₹38736 cr13.3%14.0%0.7x
2026-0631.5x₹38736 cr13.3%14.0%0.7x
2026-0531.7x₹36486 cr20.1%15.0%0.8x
2026-0429.1x₹36486 cr20.1%15.0%0.8x
2026-0323.1x₹36486 cr20.1%15.0%0.8x
2026-0227.5x₹34745 cr19.2%15.0%0.8x
2026-0125.7x₹34745 cr19.2%15.0%0.8x
2025-1226.6x₹34745 cr19.2%15.0%0.8x
2025-1129.0x₹32645 cr18.1%15.0%0.8x
2025-1027.8x₹32645 cr18.1%15.0%0.8x
2025-0926.8x₹32645 cr18.1%15.0%0.8x
2025-0825.6x₹31079 cr17.8%15.0%0.8x
2025-0726.7x₹31079 cr17.8%15.0%0.8x
2025-0628.2x₹31079 cr17.8%15.0%0.8x
2025-0530.6x₹29487 cr19.0%13.0%0.9x
2025-0426.0x₹29487 cr19.0%13.0%0.9x
2025-0325.3x₹29487 cr19.0%13.0%0.9x
2025-0223.6x₹28443 cr18.5%13.0%0.9x
2025-0124.2x₹28443 cr18.5%13.0%0.9x
2024-1227.1x₹28443 cr18.5%13.0%0.9x
2024-1128.2x₹28022 cr17.2%13.0%0.9x
2024-1032.6x₹28022 cr17.2%13.0%0.9x
2024-0934.4x₹28022 cr17.2%13.0%0.9x
2024-0839.5x₹26711 cr15.4%13.0%0.9x
2024-0741.8x₹26711 cr15.4%13.0%0.9x
2024-0639.4x₹26711 cr15.4%13.0%0.9x
2024-0558.5x₹20852 cr11.9%10.0%1.2x
2024-0453.9x₹20852 cr11.9%10.0%1.2x
2024-0354.6x₹20852 cr11.9%10.0%1.2x
2024-0253.7x₹20852 cr11.9%10.0%1.2x
2024-0149.1x₹20852 cr11.9%10.0%1.2x
2023-1241.7x₹20852 cr11.9%10.0%1.2x
2023-1133.6x₹20852 cr11.9%10.0%1.2x
2023-1031.9x₹20852 cr11.9%10.0%1.2x
2023-0933.6x₹20852 cr11.9%10.0%1.2x
2023-0832.2x₹20852 cr11.9%10.0%1.2x
2023-0731.6x₹20852 cr11.9%10.0%1.2x
2023-0630.1x₹20852 cr11.9%10.0%1.2x
2023-0531.9x₹17119 cr11.8%11.0%1.1x
2023-0429.5x₹17119 cr11.8%11.0%1.1x
2023-0327.3x₹17119 cr11.8%11.0%1.1x
2023-0225.6x₹17119 cr11.8%11.0%1.1x
2023-0126.5x₹17119 cr11.8%11.0%1.1x
2022-1235.4x₹17119 cr11.8%11.0%1.1x
2022-1138.1x₹17119 cr11.8%11.0%1.1x
2022-1035.6x₹17119 cr11.8%11.0%1.1x
2022-0935.5x₹17119 cr11.8%11.0%1.1x
2022-0836.4x₹17119 cr11.8%11.0%1.1x
2022-0733.0x₹17119 cr11.8%11.0%1.1x
2022-0629.1x₹17119 cr11.8%11.0%1.1x
2022-0530.1x₹12550 cr16.6%14.0%1.2x
2022-0434.8x₹12550 cr16.6%14.0%1.2x
2022-0331.5x₹12550 cr16.6%14.0%1.2x
2022-0228.8x₹12550 cr16.6%14.0%1.2x
2022-0129.1x₹12550 cr16.6%14.0%1.2x
2021-1229.7x₹12550 cr16.6%14.0%1.2x

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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