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ADANI POWER LIMITED (ADANIPOWER)

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.63 / 100
Profitability 79Growth 67Balance sheet 44
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.64 / 100
Price 61Earnings 45FII/DII 86

Passes these screensQuality CompounderHigh Momentum

Compare withNTPCADANI GREEN ENERGYADANI ENERGY SOLUTIONS

Share price

Closing priceAdjusted for splits and bonus issues.

₹206 latest close · −7.1% over the last 90 sessions

₹180₹200₹220Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹180₹200₹220Jul 3Sep 4Nov 9

₹206 month-end · +39.7% over 12 months

₹150₹200₹250Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹150₹200₹250Nov '25May '26Nov '26

₹206 month-end · +138.7% over 3 years

₹100₹150₹200₹250Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹150₹200₹250Nov '23May '25Nov '26

₹206 month-end · +2163.7% since Jan '19

₹0₹100₹200Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹100₹200Jan '19Dec '22Nov '26

52-week range ₹128.10 to ₹254.20 · 1-year volatility 34.9%

Was the rally earned?

+40%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings added 16 points and the multiple added 24 points (P/E 22.9x to 27.9x).
  • The share count rose 2%.
Net profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19 ptsNet profit growthP/E change: +24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+24 ptsP/E changeShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3 ptsShare count changeShare price: +40%+40%Share priceNet profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19ProfitP/E change: +24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+24P/EShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3SharesShare price: +40%+40%Share price
Net profit growth+19 ptsNet profit rose about 17%, which lifts the price.
P/E change+24 ptsThe P/E rose from 22.9x to 27.9x, which lifts the price.
Share count change-3 ptsShare count rose 2%, which lowers the price.
+139%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 15.5x to 27.9x); per-share earnings added 45 points.
  • The share count barely moved.
Net profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45 ptsNet profit growthP/E change: +93 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+93 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +139%+139%Share priceNet profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45ProfitP/E change: +93 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+93P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +139%+139%Share price
Net profit growth+45 ptsNet profit rose about 33%, which lifts the price.
P/E change+93 ptsThe P/E rose from 15.5x to 27.9x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+938%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 968 points, but investors now pay less per rupee of profit (P/E 30.1x to 27.9x), which took 30 points back.
  • The share count barely moved.
Net profit growth: +969 pts. Points of the price return explained by net profit growing (or shrinking).+969 ptsNet profit growthP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +938%+938%Share priceNet profit growth: +969 pts. Points of the price return explained by net profit growing (or shrinking).+969ProfitP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +938%+938%Share price
Net profit growth+969 ptsNet profit rose about 1022%, which lifts the price.
P/E change-30 ptsThe P/E fell from 30.1x to 27.9x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against 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 NTPC

How rough has the ride been?

Maximum drawdown-67.8%recovered 2023-11
1-year volatility34.9%annualised
Beta vs sector index1.213-year daily, correlation 0.65
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−66.1% 0%−20%−40%−60%2020202220242026−66.1%
Largest drawdowns

-67.8% (2022-08 peak to 2023-02 low, recovered 2023-11)

-64.0% (2019-11 peak to 2020-03 low, recovered 2021-03)

-52.3% (2021-06 peak to 2021-08 low, recovered 2022-03)

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?

27.9xP/E todayWithin its usual range
Against its own history71st percentile
CheapestMedian 22.2xDearest

Usual range 13.3x to 34.0x since 2019-01.

Against Utilities27.9x vs 27.3x
This company
27.9x
Sector median
27.3x

Close to the Utilities median.

7.4x37.6x67.8x98.0xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x37.6x67.8x98.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianUtilities median

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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

  • ROCE85th▼ 3 pts vs a year ago
  • Op. margin72ndflat vs a year ago
  • Revenue growth39thflat vs a year ago
  • EPS growth64th▲ 44 pts vs a year ago
  • Debt/equity ↓43rdflat vs a year ago
  • Cash cycle ↓33rd▼ 7 pts vs a year ago
  • P/E ↓50th▼ 12 pts vs a year ago
  • 12M momentum91st▼ 4 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?

~21%annual earnings growth implied by the price

At a P/E of 32.6x, the price would imply about 21.0%/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
₹206.00
P/E
27.9x
ROCE
17.0%
Market Cap
₹3.97L cr
Revenue (TTM)
₹59033 cr
P/S
6.7x
P/B
6.1x
ROE
21.9%
Operating Margin
42.0%
Debt / Equity
0.8x
Promoter Holding
75.0%
12M Momentum
39.7%

52-week range

₹128.10₹254.20
62% of the way from its 52-week low to its high

Price risk

1Y volatility
34.9%
Beta vs sector
1-year daily
1.29

Balance sheet & cash

Interest cover
operating profit ÷ interest
6.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.21x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 6checks within range2 near a threshold
Other income reliance21%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 20.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate20%Within range

Median quarterly effective tax rate over about 2.5 years: 20.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.21xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.21x (cash from operations ₹56,185 cr, net profit ₹46,550 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-6 daysWithin range

Debtor days are below the median of the previous three fiscal years by 6 days (79 vs 85). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress51% of fixed assetsNear threshold

Capital work-in-progress is 51% 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 4.1 pts; promoters added 3.2 pts; DIIs added 2.9 pts.
  • The number of shareholders rose from 14.6 lakh to 21.2 lakh (+45%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters71.8%75.0%+3.2 pts
FIIs15.9%11.8%-4.1 pts
DIIs1.2%4.1%+2.9 pts
Public and others11.2%9.2%-2.0 pts

Number of shareholders

21.2 lakhshareholders+45% since Dec '23
14.3L16.7L19.1L21.5L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 14.6 lakh
Mar '24: 14.3 lakh
Jun '24: 17.9 lakh
Sep '24: 17.4 lakh
Dec '24: 18.9 lakh
Mar '25: 18.9 lakh
Jun '25: 18.1 lakh
Sep '25: 20.1 lakh
Dec '25: 21.5 lakh
Mar '26: 20.9 lakh
Jun '26: 21.2 lakh
 14.3L16.7L19.1L21.5L Dec '23Dec '24Dec '25Jun '26
Dec '23: 14.6 lakh
Mar '24: 14.3 lakh
Jun '24: 17.9 lakh
Sep '24: 17.4 lakh
Dec '24: 18.9 lakh
Mar '25: 18.9 lakh
Jun '25: 18.1 lakh
Sep '25: 20.1 lakh
Dec '25: 21.5 lakh
Mar '26: 20.9 lakh
Jun '26: 21.2 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

−8.6%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like ADANI POWER 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 −22% to +6% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −3.4%, 80% range −10.5% to −0.4%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−40%−20%0%+20%+40%+60%+80%
JMFINANCIL · Feb 2020: −36.8% vs market
DALBHARAT · Aug 2021: −34.8% vs market
ZYDUSLIFE · Jan 2021: −33.8% vs market
TORNTPHARM · Oct 2020: −30.2% vs market
TORNTPOWER · Oct 2024: −29.6% vs market
JSWENERGY · Dec 2024: −28.9% vs market
FLUOROCHEM · Nov 2022: −28.7% vs market
JSWSTEEL · May 2021: −28.2% vs market
WIPRO · Jun 2021: −23.8% vs market
ERIS · Oct 2025: −23.2% vs market
BALKRISIND · Feb 2025: −22.8% vs market
RELIANCE · Oct 2020: −22.7% vs market
OBEROIRLTY · Jan 2025: −22.5% vs market
UNITDSPR · Jan 2020: −21.5% vs market
TATACOMM · Jun 2023: −20.6% vs market
GODREJCP · Apr 2020: −20.3% vs market
LT · Jan 2020: −18.1% vs market
KPRMILL · May 2025: −16.1% vs market
BHARTIHEXA · Sep 2025: −14.7% vs market
JINDALSTEL · May 2024: −12.2% vs market
NHPC · Mar 2024: −11.6% vs market
JSWINFRA · Jan 2025: −11.4% vs market
POWERGRID · May 2024: −11.1% vs market
APOLLOHOSP · Apr 2023: −10.8% vs market
MANKIND · Jul 2025: −8.7% vs market
LODHA · Oct 2025: −8.5% vs market
CIPLA · Nov 2020: −7.7% vs market
JKCEMENT · Mar 2023: −6.2% vs market
INDHOTEL · Jul 2025: −5.4% vs market
MEDANTA · Dec 2023: −4.4% vs market
RAINBOW · Sep 2025: −3.6% vs market
BHARTIARTL · Jul 2025: −2.2% vs market
BHARATFORG · Jan 2020: −0.1% vs market
NH · Aug 2025: +1.0% vs market
MOTILALOFS · Oct 2025: +1.8% vs market
PRESTIGE · Oct 2024: +3.9% vs market
MAXHEALTH · Jul 2023: +5.1% vs market
ULTRACEMCO · Jun 2020: +6.5% vs market
BIOCON · Aug 2025: +9.8% vs market
TITAN · Jul 2022: +11.3% vs market
M&M · Mar 2023: +11.6% vs market
INDUSTOWER · Apr 2024: +13.2% vs market
SUNPHARMA · Jan 2020: +13.4% vs market
AARTIIND · Jun 2020: +14.5% vs market
PHOENIXLTD · Oct 2025: +22.9% vs market
LUPIN · Jun 2025: +24.6% vs market
SRF · Nov 2020: +38.5% vs market
ADANIPORTS · Feb 2020: +45.1% vs market
VBL · Sep 2022: +56.1% vs market
SJVN · Jul 2023: +75.5% vs market
Similar setups −8.6%All companies −5.2%← 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
−8.6%
All companies' median
−5.2%
Beat the market
34% vs 44%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADANIPORTS
Transportation		 Feb 2020 18x14% +5%−20% +45%
SRF
Process Industries		 Nov 2020 29x14% +60%−4% +39%
RELIANCE
Energy Minerals		 Oct 2020 34x11% +40%−12% −23%
TORNTPHARM
Health Technology		 Oct 2020 42x15% +45%−15% −30%
GODREJCP
Consumer Non-Durables		 Apr 2020 24x20% −17%−29% −20%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ULTRACEMCO
Non-Energy Minerals		 Jun 2020 19x12% −15%−17% +7%
JSWSTEEL
Non-Energy Minerals		 May 2021 43x9% +286%−6% −28%
MANKIND
Health Technology		 Jul 2025 52x17% +27%−14% −9%
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 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 POWER 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.

JSW INFRASTRUCTUREJSWINFRA
Industrial Services
66%similar
operating marginvolatility
MANKIND PHARMAMANKIND
Health Technology
62%similar
market caprevenue
ZYDUS LIFESCIENCESZYDUSLIFE
Health Technology
62%similar
P/Erevenue
ADANI PORT AND SPECIAL ECONOADANIPORTS
Transportation
60%similar
market caprevenue
BHARTI HEXACOMBHARTIHEXA
Communications
59%similar
debt/equityoperating margin
JSW ENERGYJSWENERGY
Utilities
55%similar
operating marginrevenue
ADANI ENERGY SOLUTIONSADANIENSOL
Utilities
49%similar
revenuemarket cap
SATLUJ JAL VIDYUT NIGAMSJVN
Utilities
46%similar
operating marginvolatility

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

What changed?

30 events since Jun '23

  1. OctPriceFell 27% from the May 2026 peak to the Oct 2026 low.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankSlipped to the 2nd quartile of Utilities on operating margin (from the top quartile).
  4. AprPriceRegained the 2024-06 peak, 17 months after the low.
  5. AprValuationP/E crossed above the 90th percentile of its own history to date (37.3x).
  6. AprPriceVolume reached 7.4x its 50-day median on 2026-04-06; price +2.1% that day.
  7. FebPriceVolume reached 7.5x its 50-day median on 2026-02-04; price +8.1% that day.
  8. DecPeer rankMoved into the top quartile of Utilities on operating margin (from the 2nd quartile).
Show 22 earlier events
  1. OctPriceVolume reached 8.1x its 50-day median on 2025-10-03; price -3.4% that day.
  2. SepPeer rankSlipped to the 2nd quartile of Utilities on operating margin (from the top quartile).
  3. SepPriceVolume reached 29.1x its 50-day median on 2025-09-19; price +12.4% that day.
  4. JunResultsYear-on-year EPS growth turned negative.
  5. JunPeer rankSlipped to the bottom quartile of Utilities on EPS growth (from the 2nd quartile).
  6. JunPriceVolume reached 7.7x its 50-day median on 2025-06-10; price +5.9% that day.
  7. MarPeer rankMoved into the top quartile of Utilities on operating margin (from the 2nd quartile).
  8. JanPriceVolume reached 13.2x its 50-day median on 2025-01-14; price +19.3% that day.
  9. DecPromoterPromoter holding rose 2.2 pts to 75.0%.
  10. DecInstitutionsFII + DII holding fell 3.1 pts over 2 quarters to 14.2%.
  11. DecPeer rankSlipped to the 2nd quartile of Utilities on EPS growth (from the top quartile).
  12. NovPriceFell 50% from the Jun 2024 peak to the Nov 2024 low.
  13. NovPriceVolume reached 25.0x its 50-day median on 2024-11-28; price +7.3% that day.
  14. AugValuationP/E fell below the 10th percentile of its own history to date (11.7x).
  15. JunResultsRevenue (TTM) reached a new high of ₹50,351 cr.
  16. JunDebtDebt / equity fell below 1.0x (0.81x).
  17. JunPriceVolume reached 21.0x its 50-day median on 2024-06-04; price -17.3% that day.
  18. JanPriceVolume reached 13.1x its 50-day median on 2024-01-24; price +0.5% that day.
  19. NovPriceRegained the 2022-08 peak, 9 months after the low.
  20. NovPriceVolume reached 5.8x its 50-day median on 2023-11-28; price +12.3% that day.
  21. AugPriceVolume reached 14.1x its 50-day median on 2023-08-18; price +6.3% that day.
  22. JunResultsRevenue (TTM) reached a new high of ₹38,773 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
2026-1127.9x₹59033 cr21.9%17.0%0.8x
2026-1025.6x₹59033 cr22.4%17.0%0.8x
2026-0927.6x₹59033 cr22.4%17.0%0.8x
2026-0829.7x₹54240 cr20.0%17.0%0.8x
2026-0731.7x₹54240 cr20.0%17.0%0.8x
2026-0633.6x₹54240 cr20.0%17.0%0.8x
2026-0540.9x₹54254 cr20.1%23.0%0.7x
2026-0437.3x₹54254 cr20.1%23.0%0.7x
2026-0325.3x₹54254 cr20.1%23.0%0.7x
2026-0222.4x₹55474 cr20.9%23.0%0.7x
2026-0121.7x₹55474 cr20.9%23.0%0.7x
2025-1222.9x₹55474 cr20.9%23.0%0.7x
2025-1122.9x₹55356 cr21.5%23.0%0.7x
2025-1024.5x₹55356 cr21.5%23.0%0.7x
2025-0922.4x₹55356 cr21.5%23.0%0.7x
2025-0817.9x₹56203 cr22.6%23.0%0.7x
2025-0717.5x₹56203 cr22.6%23.0%0.7x
2025-0617.4x₹56203 cr22.6%23.0%0.7x
2025-0516.1x₹55330 cr30.0%32.0%0.8x
2025-0415.7x₹55330 cr30.0%32.0%0.8x
2025-0315.0x₹55330 cr30.0%32.0%0.8x
2025-0214.5x₹54650 cr29.6%32.0%0.8x
2025-0115.6x₹54650 cr29.6%32.0%0.8x
2024-1216.0x₹54650 cr29.6%32.0%0.8x
2024-1113.4x₹54302 cr37.3%32.0%0.8x
2024-1014.3x₹54302 cr37.3%32.0%0.8x
2024-0915.8x₹54302 cr37.3%32.0%0.8x
2024-0811.7x₹50351 cr48.6%32.0%0.8x
2024-0713.6x₹50351 cr48.6%32.0%0.8x
2024-0613.3x₹50351 cr48.6%32.0%0.8x
2024-0527.2x₹38773 cr36.2%16.0%1.4x
2024-0422.0x₹38773 cr36.2%16.0%1.4x
2024-0319.2x₹38773 cr36.2%16.0%1.4x
2024-0219.8x₹38773 cr36.2%16.0%1.4x
2024-0120.2x₹38773 cr36.2%16.0%1.4x
2023-1218.9x₹38773 cr36.2%16.0%1.4x
2023-1115.5x₹38773 cr36.2%16.0%1.4x
2023-1013.1x₹38773 cr36.2%16.0%1.4x
2023-0913.6x₹38773 cr36.2%16.0%1.4x
2023-0811.6x₹38773 cr36.2%16.0%1.4x
2023-079.8x₹38773 cr36.2%16.0%1.4x
2023-069.0x₹38773 cr36.2%16.0%1.4x
2023-0519.6x₹27711 cr26.6%16.0%2.7x
2023-0417.6x₹27711 cr26.6%16.0%2.7x
2023-0315.0x₹27711 cr26.6%16.0%2.7x
2023-0211.5x₹27711 cr26.6%16.0%2.7x
2023-0117.5x₹27711 cr26.6%16.0%2.7x
2022-1223.5x₹27711 cr26.6%16.0%2.7x
2022-1126.1x₹27711 cr26.6%16.0%2.7x
2022-1026.3x₹27711 cr26.6%16.0%2.7x
2022-0929.3x₹27711 cr26.6%16.0%2.7x
2022-0832.5x₹27711 cr26.6%16.0%2.7x
2022-0724.6x₹27711 cr26.6%16.0%2.7x
2022-0620.6x₹27711 cr26.6%16.0%2.7x
2022-0598.0x₹26221 cr9.7%12.0%4.0x
2022-0484.9x₹26221 cr9.7%12.0%4.0x
2022-0356.1x₹26221 cr9.7%12.0%4.0x
2022-0237.5x₹26221 cr9.7%12.0%4.0x
2022-0132.2x₹26221 cr9.7%12.0%4.0x
2021-1230.2x₹26221 cr9.7%12.0%4.0x
2021-1130.1x₹26221 cr9.7%12.0%4.0x
2021-1030.5x₹26221 cr9.7%12.0%4.0x
2021-0929.4x₹26221 cr9.7%12.0%4.0x
2021-0829.8x₹26221 cr9.7%12.0%4.0x
2021-0729.0x₹26221 cr9.7%12.0%4.0x
2021-0634.4x₹26221 cr9.7%12.0%4.0x
2021-05—₹26468 cr-35.1%7.0%8.5x
2021-04—₹26468 cr-35.1%7.0%8.5x
2021-03—₹26468 cr-35.1%7.0%8.5x
2021-02—₹26468 cr-35.1%7.0%8.5x
2021-01—₹26468 cr-35.1%7.0%8.5x
2020-12—₹26468 cr-35.1%7.0%8.5x
2020-11—₹26468 cr-35.1%7.0%8.5x
2020-10—₹26468 cr-35.1%7.0%8.5x
2020-09—₹26468 cr-35.1%7.0%8.5x
2020-08—₹26468 cr-35.1%7.0%8.5x
2020-07—₹26468 cr-35.1%7.0%8.5x
2020-06—₹26468 cr-35.1%7.0%8.5x
2020-05—₹23884 cr-12.8%9.0%6.1x
2020-04—₹23884 cr-12.8%9.0%6.1x
2020-03—₹23884 cr-12.8%9.0%6.1x
2020-02—₹23884 cr-12.8%9.0%6.1x
2020-01—₹23884 cr-12.8%9.0%6.1x
2019-12—₹23884 cr-12.8%9.0%6.1x
2019-11—₹23884 cr-12.8%9.0%6.1x
2019-10—₹23884 cr-12.8%9.0%6.1x
2019-09—₹23884 cr-12.8%9.0%6.1x
2019-08—₹23884 cr-12.8%9.0%6.1x
2019-07—₹23884 cr-12.8%9.0%6.1x
2019-06—₹23884 cr-12.8%9.0%6.1x
2019-05—₹20304 cr-236.6%6.0%59.4x
2019-04—₹20304 cr-236.6%6.0%59.4x
2019-03—₹20304 cr-236.6%6.0%59.4x
2019-02—₹20304 cr-236.6%6.0%59.4x
2019-01—₹20304 cr-236.6%6.0%59.4x

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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