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AFFLE 3I LIMITED (AFFLE)

Technology Services · Packaged Software · 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.79 / 100
Profitability 66Growth 72Balance sheet 100
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.69 / 100
Price 70Earnings 48FII/DII 87

Passes these screensDebt-light & profitableConsistent compounders

Compare withONE 97 COMMUNICATIONS PAYTMORACLE FINANCIAL SERVICES SOFTMPHASIS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,626.1 latest close · +11.0% over the last 90 sessions

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

₹1,626.1 month-end · −2.1% over 12 months

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

₹1,626.1 month-end · +45.8% over 3 years

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

₹1,626.1 month-end · +868.8% since Aug '19

₹0₹1,000₹2,000Aug '19Jan '21Jul '22Dec '23Jun '25Nov '26 ₹0₹1,000₹2,000Aug '19Apr '23Nov '26

52-week range ₹1251.30 to ₹1900.00 · 1-year volatility 36.0%

Was the rally earned?

-2%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-2%).
  • The share count rose 2%.
Net profit growth: +20 pts. Points of the price return explained by net profit growing (or shrinking).+20 ptsNet profit growthP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: −2%−2%Share priceNet profit growth: +20 pts. Points of the price return explained by net profit growing (or shrinking).+20ProfitP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −2%−2%Share price
Net profit growth+20 ptsNet profit rose about 22%, which lifts the price.
P/E change-19 ptsThe P/E fell from 58.2x to 47.9x, which lowers the price.
Share count change-2 ptsShare count rose 2%, which lowers the price.
+46%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 75 points, but investors now pay less per rupee of profit (P/E 60.7x to 47.9x), which took 29 points back.
  • The share count rose 8%.
Net profit growth: +84 pts. Points of the price return explained by net profit growing (or shrinking).+84 ptsNet profit growthP/E change: −29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−29 ptsP/E changeShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9 ptsShare count changeShare price: +46%+46%Share priceNet profit growth: +84 pts. Points of the price return explained by net profit growing (or shrinking).+84ProfitP/E change: −29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−29P/EShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9SharesShare price: +46%+46%Share price
Net profit growth+84 ptsNet profit rose about 99%, which lifts the price.
P/E change-29 ptsThe P/E fell from 60.7x to 47.9x, which lowers the price.
Share count change-9 ptsShare count rose 8%, which lowers the price.
+42%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 140 points, but investors now pay less per rupee of profit (P/E 108.7x to 47.9x), which took 98 points back.
  • The share count rose 13%.
Net profit growth: +154 pts. Points of the price return explained by net profit growing (or shrinking).+154 ptsNet profit growthP/E change: −98 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−98 ptsP/E changeShare count change: −14 pts. Points of the price return explained by the share count changing. More shares count against the price.−14 ptsShare count changeShare price: +42%+42%Share priceNet profit growth: +154 pts. Points of the price return explained by net profit growing (or shrinking).+154ProfitP/E change: −98 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−98P/EShare count change: −14 pts. Points of the price return explained by the share count changing. More shares count against the price.−14SharesShare price: +42%+42%Share price
Net profit growth+154 ptsNet profit rose about 262%, which lifts the price.
P/E change-98 ptsThe P/E fell from 108.7x to 47.9x, which lowers the price.
Share count change-14 ptsShare count rose 13%, 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 ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-58.3%recovered 2020-08
1-year volatility36.0%annualised
Beta vs sector index0.573-year daily, correlation 0.32
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−58.3% 0%−20%−40%−60%2020202220242026−58.3%
Largest drawdowns

-58.3% (2020-02 peak to 2020-03 low, recovered 2020-08)

-40.9% (2025-09 peak to 2026-03 low, not yet recovered)

-39.9% (2022-01 peak to 2023-04 low, recovered 2024-07)

Most recent volume spikes

2026-11-03: 8.9x the 50-day median, price +5.1% that day

2026-11-02: 31.7x the 50-day median, price +12.3% that day

2026-09-04: 17.4x the 50-day median, price +6.4% 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?

47.9xP/E todayNear its historic low
Against its own history10th percentile
CheapestMedian 68.0xDearest

Usual range 48.7x to 116.7x since 2019-08.

Against Technology Services47.9x vs 21.1x
This company
47.9x
Sector median
21.1x

127% above the Technology Services median.

7.4x76.5x145.7x214.9xAug '19Feb '21Aug '22Feb '24Aug '25Nov '267.4x76.5x145.7x214.9xAug '19Jan '22Jun '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianTechnology 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 Technology Services is valued

Where does it rank among Technology Services peers?

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

  • ROCE55thflat vs a year ago
  • Op. margin77thflat vs a year ago
  • Revenue growth63rd▼ 3 pts vs a year ago
  • EPS growth64th▼ 3 pts vs a year ago
  • Debt/equity ↓86th▲ 13 pts vs a year ago
  • Cash cycle ↓71st▼ 3 pts vs a year ago
  • P/E ↓19thflat vs a year ago
  • 12M momentum74th▼ 6 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~31%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 71.8x, a holder earning 12%/yr needs earnings to grow about 31.0%/yr for 10 years, then trade at 15x.

Delivered38.5%/yrEPS, last 9 fiscal years · 3-yr avg to 3-yr avg
Gap−7.5 ptsimplied minus delivered
Rank675thmost demanding of 856

Over time

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

0%29%57% Aug 2019Nov 2026 0%29%57% Aug 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x32.7%33.9%35.1%
15x29.8%31.0%32.2%
20x26.1%27.3%28.4%

Drag a slider to test other assumptions

Implied: 31.0%/yr

Looking back

  • Jan 2020Price implied 33%/yr; EPS has since grown 35%/yr (7.0 yrs)
  • Jan 2021Price implied 40%/yr; EPS has since grown 36%/yr (6.0 yrs)
  • Jan 2022Price implied 38%/yr; EPS has since grown 26%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1626.10
P/E
47.9x
ROCE
17.0%
Market Cap
₹23395 cr
Revenue (TTM)
₹2835 cr
P/S
8.3x
P/B
6.4x
ROE
13.4%
Operating Margin
22.0%
Debt / Equity
0.0x
Promoter Holding
54.9%
12M Momentum
-2.1%

52-week range

₹1251.30₹1900.00
58% of the way from its 52-week low to its high

Price risk

1Y volatility
36.0%
Beta vs sector
1-year daily
0.47

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.05x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance15%Within range

Other income as a share of pre-tax profit (trailing twelve months): 14.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 19.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.05xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.05x (cash from operations ₹1,190 cr, net profit ₹1,134 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-10 daysWithin range

Debtor days are below the median of the previous three fiscal years by 10 days (52 vs 62). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress9% of fixed assetsWithin range

Capital work-in-progress is 9% 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 4.1 pts; promoters trimmed 2.0 pts; FIIs added 1.0 pts.
  • The number of shareholders fell from 3.2 lakh to 2.4 lakh (-24%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters56.9%54.9%-2.0 pts
FIIs14.3%15.4%+1.0 pts
DIIs14.7%18.8%+4.1 pts
Public and others13.9%10.8%-3.1 pts

Number of shareholders

2.4 lakhshareholders-24% since Dec '23
2.4L2.7L3.0L3.2L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 3.2 lakh
Mar '24: 3.1 lakh
Jun '24: 2.9 lakh
Sep '24: 2.8 lakh
Dec '24: 2.8 lakh
Mar '25: 2.8 lakh
Jun '25: 2.6 lakh
Sep '25: 2.5 lakh
Dec '25: 2.5 lakh
Mar '26: 2.4 lakh
Jun '26: 2.4 lakh
 2.4L2.7L3.0L3.2L Dec '23Dec '24Dec '25Jun '26
Dec '23: 3.2 lakh
Mar '24: 3.1 lakh
Jun '24: 2.9 lakh
Sep '24: 2.8 lakh
Dec '24: 2.8 lakh
Mar '25: 2.8 lakh
Jun '25: 2.6 lakh
Sep '25: 2.5 lakh
Dec '25: 2.5 lakh
Mar '26: 2.4 lakh
Jun '26: 2.4 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

−10.0%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like AFFLE 3I 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 −21% to +8% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −7.0%, 80% range −12.0% to −4.8%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
EMUDHRA · Jul 2025: −43.3% vs market
NATCOPHARM · Jun 2021: −42.5% vs market
JYOTHYLAB · Sep 2024: −38.8% vs market
INDIAMART · Jul 2023: −35.9% vs market
FINCABLES · May 2024: −35.5% vs market
PIIND · Jun 2023: −33.9% vs market
ATUL · Jul 2022: −33.3% vs market
VINATIORGA · Jun 2025: −32.5% vs market
ICRA · Jul 2023: −32.4% vs market
ACUTAAS · Jun 2023: −30.7% vs market
LATENTVIEW · Mar 2024: −30.1% vs market
GREAVESCOT · Feb 2020: −22.5% vs market
SUPREMEIND · Mar 2024: −21.9% vs market
SUMICHEM · Sep 2025: −19.2% vs market
TTKPRESTIG · Nov 2021: −18.9% vs market
VESUVIUS · Jun 2025: −17.3% vs market
PGHL · Jun 2020: −16.6% vs market
LAOPALA · Mar 2020: −16.4% vs market
JLHL · Dec 2024: −15.5% vs market
MANKIND · Nov 2024: −15.4% vs market
FINEORG · Jul 2025: −13.8% vs market
NOCIL · Sep 2021: −13.3% vs market
SAREGAMA · Jun 2024: −12.1% vs market
KSB · Mar 2024: −10.7% vs market
GPPL · Mar 2020: −10.4% vs market
KANSAINER · May 2020: −9.7% vs market
EICHERMOT · Aug 2022: −9.2% vs market
3MINDIA · Apr 2023: −8.6% vs market
ESCORTS · Sep 2023: −7.7% vs market
HONAUT · Jun 2023: −7.1% vs market
ERIS · Jun 2020: −5.3% vs market
SCHAEFFLER · May 2025: −3.6% vs market
SHANTIGEAR · Apr 2020: −2.3% vs market
TRITURBINE · Jan 2023: −0.2% vs market
VOLTAS · Mar 2021: +0.6% vs market
NAVINFLUOR · Jan 2022: +1.0% vs market
JBCHEPHARM · May 2021: +4.4% vs market
KENNAMET · Aug 2022: +8.8% vs market
GRINDWELL · Mar 2022: +9.9% vs market
ZFCVINDIA · Apr 2025: +10.0% vs market
PERSISTENT · Apr 2022: +11.1% vs market
AJANTPHARM · Feb 2024: +17.4% vs market
SIEMENS · Aug 2023: +19.3% vs market
CARBORUNIV · Feb 2022: +22.9% vs market
YATHARTH · Oct 2025: +23.0% vs market
AIAENG · Aug 2022: +29.5% vs market
CUMMINSIND · Aug 2022: +30.8% vs market
RATEGAIN · Sep 2025: +31.3% vs market
LINDEINDIA · Sep 2022: +54.9% vs market
MCX · Jul 2023: +75.2% vs market
Similar setups −10.0%All companies −3.0%← 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
−10.0%
All companies' median
−3.0%
Beat the market
32% vs 47%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
3MINDIA
Producer Manufacturing		 Apr 2023 60x18% +13%−10% −9%
LINDEINDIA
Process Industries		 Sep 2022 56x17% +27%−17% +55%
GRINDWELL
Process Industries		 Mar 2022 83x23% +89%−8% +10%
NAVINFLUOR
Process Industries		 Jan 2022 76x22% +72%−7% +1%
SUMICHEM
Process Industries		 Sep 2025 48x25% −4%−18% −19%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
VINATIORGA
Process Industries		 Jun 2025 51x20% +4%−15% −33%
SAREGAMA
Consumer Services		 Jun 2024 54x18% +45%−1% −12%
CARBORUNIV
Process Industries		 Feb 2022 54x19% +59%−20% +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, P/E and drawdown from 12-month high. 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 AFFLE 3I 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.

GLAND PHARMAGLAND
Health Technology
76%similar
P/Erevenue growth
TIMKEN INDIATIMKEN
Producer Manufacturing
74%similar
market capdebt/equity
PRUDENT CORPORATE ADVISORYPRUDENT
Finance
66%similar
promoter holdingP/E
TECHNO ELECTRIC AND ENGINEERINTECHNOE
Industrial Services
64%similar
revenuepromoter holding
YATHARTH HOSPITAL TRAUMAYATHARTH
Health Services
64%similar
EPS growthpromoter holding
ZEN TECHNOLOGIESZENTEC
Technology Services
59%similar
debt/equityROCE
COFORGECOFORGE
Technology Services
58%similar
revenue growthP/E
KFIN TECHNOLOGIESKFINTECH
Technology Services
58%similar
revenue growthP/E

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

What changed?

30 events since Jan '23

  1. NovPriceVolume reached 31.7x its 50-day median on 2026-11-02; price +12.3% that day.
  2. JulPriceVolume reached 27.0x its 50-day median on 2026-07-28; price +9.3% that day.
  3. JunPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
  4. MayPriceVolume reached 33.4x its 50-day median on 2026-05-11; price +8.7% that day.
  5. MarPriceFell 41% from the Sep 2025 peak to the Mar 2026 low.
  6. MarPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
  7. MarPriceVolume reached 5.1x its 50-day median on 2026-03-27; price +3.8% that day.
  8. NovValuationP/E fell below the 10th percentile of its own history to date (58.2x).
Show 22 earlier events
  1. SepPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
  2. SepPriceVolume reached 11.6x its 50-day median on 2025-09-09; price +6.6% that day.
  3. JunPeer rankMoved into the 2nd quartile of Technology Services on ROCE (from the 3rd quartile).
  4. JunPriceVolume reached 8.3x its 50-day median on 2025-06-10; price +3.8% that day.
  5. FebValuationP/E fell below the 10th percentile of its own history to date (57.2x).
  6. FebPriceVolume reached 6.5x its 50-day median on 2025-02-14; price -3.5% that day.
  7. DecPriceVolume reached 11.3x its 50-day median on 2024-12-03; price +2.1% that day.
  8. AugPriceVolume reached 12.2x its 50-day median on 2024-08-09; price +7.6% that day.
  9. JulPriceRegained the 2022-01 peak, 15 months after the low.
  10. JunResultsRevenue (TTM) reached a new high of ₹1,843 cr.
  11. JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
  12. JunPriceVolume reached 21.5x its 50-day median on 2024-06-26; price +6.2% that day.
  13. MarValuationP/E fell below the 10th percentile of its own history to date (56.7x).
  14. DecPriceVolume reached 8.0x its 50-day median on 2023-12-12; price +0.9% that day.
  15. AugPriceVolume reached 8.8x its 50-day median on 2023-08-01; price +6.1% that day.
  16. JulValuationP/E fell below the 10th percentile of its own history to date (58.5x).
  17. JunResultsRevenue (TTM) reached a new high of ₹1,434 cr.
  18. JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  19. MayPriceVolume reached 6.3x its 50-day median on 2023-05-26; price -1.4% that day.
  20. AprPriceFell 40% from the Jan 2022 peak to the Apr 2023 low.
  21. FebValuationP/E fell below the 10th percentile of its own history to date (63.8x).
  22. JanDebtDebt / equity halved over 12 months to 0.13x.

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 history88 months · 2019-08 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1147.9x₹2835 cr13.4%17.0%0.0x
2026-1039.5x₹2835 cr13.1%17.0%0.0x
2026-0944.5x₹2835 cr13.1%17.0%0.0x
2026-0849.4x₹2709 cr12.5%17.0%0.0x
2026-0749.1x₹2709 cr12.5%17.0%0.0x
2026-0643.9x₹2709 cr12.5%17.0%0.0x
2026-0546.9x₹2587 cr14.9%17.0%0.0x
2026-0445.6x₹2587 cr14.9%17.0%0.0x
2026-0346.5x₹2587 cr14.9%17.0%0.0x
2026-0246.2x₹2472 cr14.3%17.0%0.0x
2026-0151.9x₹2472 cr14.3%17.0%0.0x
2025-1260.3x₹2472 cr14.3%17.0%0.0x
2025-1158.2x₹2368 cr13.6%17.0%0.0x
2025-1067.7x₹2368 cr13.6%17.0%0.0x
2025-0968.3x₹2368 cr13.6%17.0%0.0x
2025-0870.1x₹2267 cr13.0%17.0%0.0x
2025-0772.0x₹2267 cr13.0%17.0%0.0x
2025-0673.4x₹2267 cr13.0%17.0%0.0x
2025-0566.5x₹2171 cr14.7%16.0%0.1x
2025-0460.7x₹2171 cr14.7%16.0%0.1x
2025-0361.6x₹2171 cr14.7%16.0%0.1x
2025-0257.2x₹2068 cr13.7%16.0%0.1x
2025-0161.6x₹2068 cr13.7%16.0%0.1x
2024-1272.9x₹2068 cr13.7%16.0%0.1x
2024-1170.7x₹1956 cr12.7%16.0%0.1x
2024-1067.1x₹1956 cr12.7%16.0%0.1x
2024-0969.3x₹1956 cr12.7%16.0%0.1x
2024-0877.0x₹1843 cr11.9%16.0%0.1x
2024-0771.2x₹1843 cr11.9%16.0%0.1x
2024-0663.4x₹1843 cr11.9%16.0%0.1x
2024-0561.9x₹1434 cr16.7%20.0%0.1x
2024-0461.0x₹1434 cr16.7%20.0%0.1x
2024-0356.7x₹1434 cr16.7%20.0%0.1x
2024-0260.9x₹1434 cr16.7%20.0%0.1x
2024-0167.6x₹1434 cr16.7%20.0%0.1x
2023-1271.1x₹1434 cr16.7%20.0%0.1x
2023-1160.7x₹1434 cr16.7%20.0%0.1x
2023-1057.3x₹1434 cr16.7%20.0%0.1x
2023-0960.3x₹1434 cr16.7%20.0%0.1x
2023-0858.7x₹1434 cr16.7%20.0%0.1x
2023-0758.5x₹1434 cr16.7%20.0%0.1x
2023-0659.7x₹1434 cr16.7%20.0%0.1x
2023-0559.8x₹1082 cr18.3%28.0%0.1x
2023-0458.0x₹1082 cr18.3%28.0%0.1x
2023-0361.5x₹1082 cr18.3%28.0%0.1x
2023-0263.8x₹1082 cr18.3%28.0%0.1x
2023-0168.9x₹1082 cr18.3%28.0%0.1x
2022-1267.5x₹1082 cr18.3%28.0%0.1x
2022-1178.1x₹1082 cr18.3%28.0%0.1x
2022-1071.9x₹1082 cr18.3%28.0%0.1x
2022-0978.6x₹1082 cr18.3%28.0%0.1x
2022-0881.6x₹1082 cr18.3%28.0%0.1x
2022-0766.1x₹1082 cr18.3%28.0%0.1x
2022-0666.1x₹1082 cr18.3%28.0%0.1x
2022-0599.5x₹517 cr37.6%39.0%0.3x
2022-04115.6x₹517 cr37.6%39.0%0.3x
2022-03119.2x₹517 cr37.6%39.0%0.3x
2022-02115.3x₹517 cr37.6%39.0%0.3x
2022-01124.0x₹517 cr37.6%39.0%0.3x
2021-12106.7x₹517 cr37.6%39.0%0.3x
2021-11108.7x₹517 cr37.6%39.0%0.3x
2021-1099.3x₹517 cr37.6%39.0%0.3x
2021-09101.1x₹517 cr37.6%39.0%0.3x
2021-0890.1x₹517 cr37.6%39.0%0.3x
2021-0779.2x₹517 cr37.6%39.0%0.3x
2021-0681.4x₹517 cr37.6%39.0%0.3x
2021-05206.7x₹334 cr28.7%43.0%0.3x
2021-04214.9x₹334 cr28.7%43.0%0.3x
2021-03212.4x₹334 cr28.7%43.0%0.3x
2021-02202.3x₹334 cr28.7%43.0%0.3x
2021-01141.9x₹334 cr28.7%43.0%0.3x
2020-12147.2x₹334 cr28.7%43.0%0.3x
2020-11133.0x₹334 cr28.7%43.0%0.3x
2020-10103.3x₹334 cr28.7%43.0%0.3x
2020-09111.9x₹334 cr28.7%43.0%0.3x
2020-0898.5x₹334 cr28.7%43.0%0.3x
2020-0765.7x₹334 cr28.7%43.0%0.3x
2020-0656.8x₹334 cr28.7%43.0%0.3x
2020-0576.6x₹249 cr68.1%108.0%0.1x
2020-0471.2x₹249 cr68.1%108.0%0.1x
2020-0350.0x₹249 cr68.1%108.0%0.1x
2020-0289.5x₹249 cr68.1%108.0%0.1x
2020-0182.2x₹249 cr68.1%108.0%0.1x
2019-1278.7x₹249 cr68.1%108.0%0.1x
2019-1175.7x₹249 cr68.1%108.0%0.1x
2019-1069.0x₹249 cr68.1%108.0%0.1x
2019-0956.0x₹249 cr68.1%108.0%0.1x
2019-0841.8x₹249 cr68.1%108.0%0.1x

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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