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ANI INTEGRATED SERVICES LTD (AISL)

Commercial Services

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.44 / 100
Profitability 17Growth 52Balance sheet 63
Compare withQUESS CORP LIMITEDTEAMLEASE SERVICES LIMITEDAARVI ENCON LIMITED
Share Price
₹31.00
P/E
19.9x
ROCE
9.0%
Market Cap
₹73 cr
Revenue (TTM)
₹256 cr
P/S
0.3x
P/B
0.9x
ROE
4.3%
Operating Margin
-1.2%
Debt / Equity
0.2x
Promoter Holding
75.0%
12M Momentum
-31.0%
P/E vs its own history68th percentilesince Jun '20
P/E vs Commercial Services1.0xthe sector median

52-week range

₹24.50₹56.50
20% of the way from its 52-week low to its high

Price risk

1Y volatility
55.9%
Beta vs sector
1-year daily
0.08

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.41x
low
Share count, 1Y
+20.0%

Was the rally earned?

-31%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 87 points, while the multiple moved less (P/E 10.2x to 19.9x).
  • The share count rose 5%.
1 year Net profit growth: -83 pts. Points of the price return explained by net profit growing (or shrinking).-83 ptsP/E change: +56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+56 ptsShare count change: -4 pts. Points of the price return explained by the share count changing. More shares count against the price. -31% 1 year Net profit growth: -83 pts. Points of the price return explained by net profit growing (or shrinking).-83 ptsP/E change: +56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+56 ptsShare count change: -4 pts. Points of the price return explained by the share count changing. More shares count against the price. -31%
Net profit growth-83 ptsNet profit fell about 63%, which lowers the price.
P/E change+56 ptsThe P/E rose from 10.2x to 19.9x, which lifts the price.
Share count change-4 ptsShare count rose 5%, which lowers the price.
+13%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 15 points, but investors now pay less per rupee of profit (P/E 20.4x to 19.9x), which took 3 points back.
  • The share count rose 20%.
3 years Net profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35 ptsP/E change: -3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -19 pts. Points of the price return explained by the share count changing. More shares count against the price.-19 pts +13% 3 years Net profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35 ptsP/E change: -3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -19 pts. Points of the price return explained by the share count changing. More shares count against the price.-19 pts +13%
Net profit growth+35 ptsNet profit rose about 39%, which lifts the price.
P/E change-3 ptsThe P/E fell from 20.4x to 19.9x, which lowers the price.
Share count change-19 ptsShare count rose 20%, which lowers the price.
+15%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 12.2x to 19.9x); per-share earnings took off 38 points.
  • The share count rose 20%.
5 years Net profit growth: -18 pts. Points of the price return explained by net profit growing (or shrinking).-18 ptsP/E change: +53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+53 ptsShare count change: -20 pts. Points of the price return explained by the share count changing. More shares count against the price.-20 pts +15% 5 years Net profit growth: -18 pts. Points of the price return explained by net profit growing (or shrinking).-18 ptsP/E change: +53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+53 ptsShare count change: -20 pts. Points of the price return explained by the share count changing. More shares count against the price.-20 pts +15%
Net profit growth-18 ptsNet profit fell about 16%, which lowers the price.
P/E change+53 ptsThe P/E rose from 12.2x to 19.9x, which lifts the price.
Share count change-20 ptsShare count rose 20%, 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 QUESS CORP

Is it expensive against its own past and its peers?

19.9xP/E todayWithin its usual range
Against its own history68th percentileMedian 11.2x; usual range 8.7x to 27.6x since 2020-06.
Against Commercial Services19.9x vs 19.9xClose to the Commercial Services median.
7.3x24.5x41.7x58.9xJun '20Oct '21Feb '23Jun '24Oct '25Oct '267.3x24.5x41.7x58.9xJun '20Aug '22Oct '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianCommercial Services median

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

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

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Commercial Services is valued

What is the price implying?

~10%annual earnings growth implied by the price

At a P/E of 12.1x, the price would imply about 9.6%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

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

What prices imply across Commercial Services The market-wide Expectations lists

What changed?

  1. Aug '26Slipped to the bottom quartile of Commercial Services on ROCE (from the 3rd quartile).
  2. Jun '26Fell 76% from the Sep 2024 peak to the Jun 2026 low.
  3. Jun '26Slipped to the 3rd quartile of Commercial Services on ROCE (from the 2nd quartile).
  4. Jun '26Share count is up 20.0% over 12 months.
  5. Mar '26Year-on-year EPS growth turned negative.
  6. Mar '26P/E fell below the 10th percentile of its own history to date (8.0x).
  7. Mar '26Moved into the 3rd quartile of Commercial Services on operating margin (from the bottom quartile).
  8. Dec '25Promoter holding rose 3.2 pts to 75.0%.
Show 15 earlier events
  1. Dec '25Slipped to the 3rd quartile of Commercial Services on EPS growth (from the 2nd quartile).
  2. Sep '25Slipped to the bottom quartile of Commercial Services on operating margin (from the 3rd quartile).
  3. Aug '25P/E fell below the 10th percentile of its own history to date (8.7x).
  4. Jun '25Moved into the 2nd quartile of Commercial Services on ROCE (from the 3rd quartile).
  5. Dec '24Promoter holding fell 3.2 pts to 71.8%.
  6. Sep '24P/E crossed above the 90th percentile of its own history to date (28.2x).
  7. Jun '24Year-on-year EPS growth turned positive.
  8. Jun '24Moved into the top quartile of Commercial Services on EPS growth (from the bottom quartile).
  9. Jan '24Regained the 2019-02 peak, 44 months after the low.
  10. Jun '23Year-on-year EPS growth turned negative.
  11. Jun '23P/E crossed above the 90th percentile of its own history to date (21.9x).
  12. Jun '23Slipped to the 3rd quartile of Commercial Services on ROCE (from the 2nd quartile).
  13. Jun '22Revenue (TTM) reached a new high of ₹144 cr.
  14. Jun '21EPS (TTM) turned positive.
  15. May '20Fell 81% from the Feb 2019 peak to the May 2020 low.

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

Are profits backed by cash?

1 of 6 checks are within range, 1 near a threshold, 4 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance49%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 49.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate12%Near threshold

Median quarterly effective tax rate over about 2.5 years: 11.7%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.41xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.41x (cash from operations ₹-9 cr, net profit ₹22 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+78 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 78 days (155 vs 77). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% 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.

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, institutional and promoter holdings were broadly unchanged.

Holdings, Jun '26

How each group changed

GroupMar '24Jun '26Change
Promoters75.0%75.0%0.0 pts
FIIs0.0%0.0%0.0 pts
DIIs0.0%0.0%0.0 pts
Public and others25.0%25.0%0.0 pts

Number of shareholders

505shareholders+1% since Mar '24
455475494514 Mar '24Dec '24Sep '25Mar '26Jun '26
Mar '24: 502
Sep '24: 480
Dec '24: 455
Jun '25: 490
Sep '25: 514
Dec '25: 511
Mar '26: 502
Jun '26: 505
 455475494514 Mar '24Jun '25Mar '26Jun '26
Mar '24: 502
Sep '24: 480
Dec '24: 455
Jun '25: 490
Sep '25: 514
Dec '25: 511
Mar '26: 502
Jun '26: 505

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

How rough has the ride been?

Maximum drawdown-81.4%recovered 2024-01
1-year volatility55.9%annualised

Monthly share price

₹9₹39₹69₹100 Jun '20Oct '21Feb '23Jun '24Oct '25Oct '26
2020-06: ₹10.90
2020-07: ₹9.00
2020-08: ₹11.30
2020-09: ₹10.80
2020-10: ₹10.20
2020-11: ₹9.70
2020-12: ₹12.25
2021-01: ₹12.20
2021-02: ₹12.10
2021-03: ₹17.10
2021-04: ₹20.30
2021-05: ₹22.40
2021-06: ₹23.60
2021-07: ₹22.85
2021-08: ₹21.90
2021-09: ₹22.30
2021-10: ₹27.00
2021-11: ₹25.00
2021-12: ₹23.20
2022-01: ₹34.00
2022-02: ₹27.40
2022-03: ₹24.95
2022-04: ₹30.65
2022-05: ₹24.80
2022-06: ₹23.00
2022-07: ₹20.25
2022-08: ₹21.50
2022-09: ₹28.50
2022-10: ₹26.00
2022-11: ₹23.40
2022-12: ₹25.20
2023-01: ₹27.25
2023-02: ₹24.00
2023-03: ₹20.00
2023-04: ₹25.00
2023-05: ₹25.35
2023-06: ₹29.55
2023-07: ₹25.65
2023-08: ₹27.40
2023-09: ₹32.95
2023-10: ₹27.55
2023-11: ₹30.00
2023-12: ₹32.40
2024-01: ₹37.10
2024-02: ₹38.25
2024-03: ₹37.50
2024-04: ₹64.85
2024-05: ₹79.50
2024-06: ₹66.50
2024-07: ₹73.50
2024-08: ₹72.50
2024-09: ₹95.20
2024-10: ₹99.70
2024-11: ₹93.10
2024-12: ₹92.00
2025-01: ₹79.40
2025-02: ₹76.50
2025-03: ₹51.00
2025-04: ₹50.95
2025-05: ₹50.50
2025-06: ₹46.50
2025-07: ₹47.00
2025-08: ₹40.40
2025-09: ₹42.00
2025-10: ₹44.90
2025-11: ₹44.40
2025-12: ₹41.60
2026-01: ₹37.55
2026-02: ₹36.80
2026-03: ₹30.00
2026-04: ₹28.50
2026-05: ₹27.05
2026-06: ₹27.50
2026-07: ₹29.50
2026-08: ₹28.30
2026-09: ₹31.85
2026-10: ₹31.00
 ₹9₹39₹69₹100 Jun '20Aug '22Oct '24Oct '26
2020-06: ₹10.90
2020-07: ₹9.00
2020-08: ₹11.30
2020-09: ₹10.80
2020-10: ₹10.20
2020-11: ₹9.70
2020-12: ₹12.25
2021-01: ₹12.20
2021-02: ₹12.10
2021-03: ₹17.10
2021-04: ₹20.30
2021-05: ₹22.40
2021-06: ₹23.60
2021-07: ₹22.85
2021-08: ₹21.90
2021-09: ₹22.30
2021-10: ₹27.00
2021-11: ₹25.00
2021-12: ₹23.20
2022-01: ₹34.00
2022-02: ₹27.40
2022-03: ₹24.95
2022-04: ₹30.65
2022-05: ₹24.80
2022-06: ₹23.00
2022-07: ₹20.25
2022-08: ₹21.50
2022-09: ₹28.50
2022-10: ₹26.00
2022-11: ₹23.40
2022-12: ₹25.20
2023-01: ₹27.25
2023-02: ₹24.00
2023-03: ₹20.00
2023-04: ₹25.00
2023-05: ₹25.35
2023-06: ₹29.55
2023-07: ₹25.65
2023-08: ₹27.40
2023-09: ₹32.95
2023-10: ₹27.55
2023-11: ₹30.00
2023-12: ₹32.40
2024-01: ₹37.10
2024-02: ₹38.25
2024-03: ₹37.50
2024-04: ₹64.85
2024-05: ₹79.50
2024-06: ₹66.50
2024-07: ₹73.50
2024-08: ₹72.50
2024-09: ₹95.20
2024-10: ₹99.70
2024-11: ₹93.10
2024-12: ₹92.00
2025-01: ₹79.40
2025-02: ₹76.50
2025-03: ₹51.00
2025-04: ₹50.95
2025-05: ₹50.50
2025-06: ₹46.50
2025-07: ₹47.00
2025-08: ₹40.40
2025-09: ₹42.00
2025-10: ₹44.90
2025-11: ₹44.40
2025-12: ₹41.60
2026-01: ₹37.55
2026-02: ₹36.80
2026-03: ₹30.00
2026-04: ₹28.50
2026-05: ₹27.05
2026-06: ₹27.50
2026-07: ₹29.50
2026-08: ₹28.30
2026-09: ₹31.85
2026-10: ₹31.00

Last 90 trading days

₹26₹29₹33₹37 May 15Jun 24Jul 28Sep 4Oct 6Oct 30
2026-05-15: ₹30.40
2026-05-19: ₹29.70
2026-05-26: ₹28.45
2026-06-01: ₹25.70
2026-06-03: ₹27.10
2026-06-05: ₹29.50
2026-06-09: ₹27.30
2026-06-17: ₹27.50
2026-06-22: ₹27.50
2026-06-24: ₹26.40
2026-06-30: ₹27.50
2026-07-03: ₹30.25
2026-07-08: ₹30.05
2026-07-13: ₹29.10
2026-07-16: ₹27.00
2026-07-20: ₹28.00
2026-07-22: ₹30.00
2026-07-24: ₹31.10
2026-07-28: ₹29.60
2026-07-31: ₹29.50
2026-08-04: ₹29.00
2026-08-10: ₹29.50
2026-08-13: ₹29.00
2026-08-20: ₹27.55
2026-08-24: ₹28.00
2026-08-26: ₹27.55
2026-09-02: ₹28.95
2026-09-04: ₹30.00
2026-09-08: ₹29.00
2026-09-11: ₹27.30
2026-09-16: ₹27.05
2026-09-21: ₹27.25
2026-09-23: ₹28.00
2026-09-25: ₹27.55
2026-09-29: ₹30.35
2026-10-01: ₹33.40
2026-10-06: ₹36.80
2026-10-08: ₹35.20
2026-10-12: ₹31.80
2026-10-14: ₹31.75
2026-10-16: ₹28.75
2026-10-21: ₹29.40
2026-10-23: ₹29.00
2026-10-27: ₹31.95
2026-10-29: ₹32.05
2026-10-30: ₹31.00
 ₹26₹29₹33₹37 May 15Jul 20Sep 16Oct 30
2026-05-15: ₹30.40
2026-05-19: ₹29.70
2026-05-26: ₹28.45
2026-06-01: ₹25.70
2026-06-03: ₹27.10
2026-06-05: ₹29.50
2026-06-09: ₹27.30
2026-06-17: ₹27.50
2026-06-22: ₹27.50
2026-06-24: ₹26.40
2026-06-30: ₹27.50
2026-07-03: ₹30.25
2026-07-08: ₹30.05
2026-07-13: ₹29.10
2026-07-16: ₹27.00
2026-07-20: ₹28.00
2026-07-22: ₹30.00
2026-07-24: ₹31.10
2026-07-28: ₹29.60
2026-07-31: ₹29.50
2026-08-04: ₹29.00
2026-08-10: ₹29.50
2026-08-13: ₹29.00
2026-08-20: ₹27.55
2026-08-24: ₹28.00
2026-08-26: ₹27.55
2026-09-02: ₹28.95
2026-09-04: ₹30.00
2026-09-08: ₹29.00
2026-09-11: ₹27.30
2026-09-16: ₹27.05
2026-09-21: ₹27.25
2026-09-23: ₹28.00
2026-09-25: ₹27.55
2026-09-29: ₹30.35
2026-10-01: ₹33.40
2026-10-06: ₹36.80
2026-10-08: ₹35.20
2026-10-12: ₹31.80
2026-10-14: ₹31.75
2026-10-16: ₹28.75
2026-10-21: ₹29.40
2026-10-23: ₹29.00
2026-10-27: ₹31.95
2026-10-29: ₹32.05
2026-10-30: ₹31.00

Drawdown from peak

0% -40% -80% Feb '19Dec '22Oct '26 0% -40% -80% Feb '19Dec '22Oct '26
Largest drawdowns

-81.4% (2019-02 peak to 2020-05 low, recovered 2024-01)

-75.7% (2024-09 peak to 2026-06 low, not yet recovered)

-22.9% (2024-01 peak to 2024-02 low, recovered 2024-04)

Where does it rank among Commercial Services peers?

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

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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

What happened next to similar setups

+6.8%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like ANI INTEGRATED SERVICES 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 −22% to +48% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+7.8%, 80% range −1.6% to +20.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
PIONEEREMB · Jun 2025: −47.4% vs market
AKG · Aug 2023: −47.3% vs market
TOTAL · Aug 2023: −46.0% vs market
AHLADA · Feb 2024: −43.1% vs market
UMAEXPORTS · Jun 2024: −41.2% vs market
MITTAL · Jun 2025: −36.4% vs market
BVCL · Apr 2024: −33.7% vs market
ISFT · Nov 2024: −31.4% vs market
KALYANIFRG · Jan 2020: −28.4% vs market
ORIENTALTL · Dec 2020: −26.6% vs market
UFO · Nov 2024: −25.3% vs market
HPL · Jan 2020: −24.7% vs market
CORDSCABLE · Jun 2021: −22.6% vs market
MWL · Aug 2023: −21.9% vs market
ASTRON · Jan 2023: −20.2% vs market
GRAPHISAD · Apr 2025: −20.1% vs market
GRPLTD · Feb 2020: −15.6% vs market
RILINFRA · Oct 2025: −9.3% vs market
JOCIL · Jun 2022: −4.3% vs market
APOLSINHOT · Jun 2025: −2.0% vs market
JAYBARMARU · Mar 2022: −1.2% vs market
TEXMOPIPES · Dec 2022: +0.2% vs market
CELEBRITY · May 2020: +1.2% vs market
PATINTLOG · May 2020: +1.9% vs market
HPIL · Dec 2023: +4.1% vs market
SAGARDEEP · Aug 2024: +9.5% vs market
LOKESHMACH · Mar 2020: +14.8% vs market
ARIES · Jun 2022: +15.2% vs market
WIPL · Oct 2023: +15.8% vs market
SUNDRMBRAK · May 2020: +17.4% vs market
NECLIFE · Nov 2022: +21.9% vs market
ASPINWALL · Jan 2022: +22.1% vs market
AAREYDRUGS · Jul 2024: +38.4% vs market
CENTEXT · Jun 2023: +40.9% vs market
SKMEGGPROD · Feb 2020: +41.9% vs market
IVP · Sep 2025: +45.6% vs market
SAKUMA · Jul 2023: +47.0% vs market
SHREYANIND · Jan 2022: +48.1% vs market
INCREDIBLE · May 2023: +50.8% vs market
NECCLTD · Feb 2020: +53.9% vs market
MODISONLTD · Nov 2022: +54.3% vs market
GOKUL · Nov 2020: +56.3% vs market
SURANASOL · Jul 2021: +72.0% vs market
KRITIKA · Sep 2023: +72.6% vs market
RUCHIRA · Dec 2021: +75.2% vs market
HILTON · Jan 2021: +85.4% vs market
SOMICONVEY · Feb 2023: +94.2% vs market
AROGRANITE · Jul 2020: +108.2% vs market
SHIVAMILLS · Sep 2020: +115.3% vs market
ORIENTBELL · Jul 2020: +208.0% vs market
Similar setups +6.8%All companies −1.0%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
+6.8%
All companies' median
−1.0%
Beat the market
58% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ASPINWALL
Transportation		 Jan 2022 22x8% +21%−28% +22%
SHIVAMILLS
Process Industries		 Sep 2020 18x6% −23%−37% +115%
ASTRON
Process Industries		 Jan 2023 19x9% −31%−40% −20%
INCREDIBLE
Non-Energy Minerals		 May 2023 27x7% −9%−30% +51%
AKG
Distribution Services		 Aug 2023 35x9% +12%−35% −47%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TEXMOPIPES
Producer Manufacturing		 Dec 2022 12x11% −16%−40% 0%
AHLADA
Producer Manufacturing		 Feb 2024 29x8% +32%−25% −43%
AAREYDRUGS
Health Technology		 Jul 2024 26x6% +28%−24% +38%
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, interest cover and ROCE. 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 ANI INTEGRATED SERVICES 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (77 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1019.9x₹256 cr4.3%9.0%0.2x
2026-0920.4x₹256 cr4.3%9.0%0.2x
2026-0811.1x₹254 cr7.4%9.0%0.2x
2026-0711.6x₹254 cr7.4%9.0%0.2x
2026-0610.8x₹254 cr7.4%9.0%0.2x
2026-057.3x₹249 cr13.1%19.0%0.3x
2026-047.6x₹249 cr13.1%19.0%0.3x
2026-038.0x₹249 cr13.1%19.0%0.3x
2026-029.0x₹243 cr14.0%19.0%0.3x
2026-019.2x₹243 cr14.0%19.0%0.3x
2025-1210.1x₹243 cr14.0%19.0%0.3x
2025-1110.0x₹233 cr14.7%19.0%0.3x
2025-1010.2x₹233 cr14.7%19.0%0.3x
2025-099.5x₹233 cr14.7%19.0%0.3x
2025-088.7x₹227 cr15.4%19.0%0.3x
2025-0710.2x₹227 cr15.4%19.0%0.3x
2025-0610.1x₹227 cr15.4%19.0%0.3x
2025-0512.1x₹221 cr17.4%14.0%0.5x
2025-0412.2x₹221 cr17.4%14.0%0.5x
2025-0312.2x₹221 cr17.4%14.0%0.5x
2025-0220.0x₹209 cr15.6%14.0%0.5x
2025-0120.8x₹209 cr15.6%14.0%0.5x
2024-1224.1x₹209 cr15.6%14.0%0.5x
2024-1127.6x₹199 cr13.5%14.0%0.5x
2024-1029.6x₹199 cr13.5%14.0%0.5x
2024-0928.2x₹199 cr13.5%14.0%0.5x
2024-0824.9x₹188 cr11.5%14.0%0.5x
2024-0725.3x₹188 cr11.5%14.0%0.5x
2024-0622.9x₹188 cr11.5%14.0%0.5x
2024-0558.9x₹158 cr5.6%8.0%0.2x
2024-0448.0x₹158 cr5.6%8.0%0.2x
2024-0327.8x₹158 cr5.6%8.0%0.2x
2024-0228.3x₹158 cr5.6%8.0%0.2x
2024-0127.5x₹158 cr5.6%8.0%0.2x
2023-1224.0x₹158 cr5.6%8.0%0.2x
2023-1122.2x₹158 cr5.6%8.0%0.2x
2023-1020.4x₹158 cr5.6%8.0%0.2x
2023-0924.4x₹158 cr5.6%8.0%0.2x
2023-0820.3x₹158 cr5.6%8.0%0.2x
2023-0719.0x₹158 cr5.6%8.0%0.2x
2023-0621.9x₹158 cr5.6%8.0%0.2x
2023-059.5x₹144 cr12.2%15.0%0.2x
2023-049.4x₹144 cr12.2%15.0%0.2x
2023-037.5x₹144 cr12.2%15.0%0.2x
2023-029.0x₹144 cr12.2%15.0%0.2x
2023-0110.2x₹144 cr12.2%15.0%0.2x
2022-129.4x₹144 cr12.2%15.0%0.2x
2022-118.8x₹144 cr12.2%15.0%0.2x
2022-109.7x₹144 cr12.2%15.0%0.2x
2022-0910.7x₹144 cr12.2%15.0%0.2x
2022-088.1x₹144 cr12.2%15.0%0.2x
2022-077.6x₹144 cr12.2%15.0%0.2x
2022-068.6x₹144 cr12.2%15.0%0.2x
2022-0511.2x₹102 cr11.1%11.0%0.2x
2022-0413.8x₹102 cr11.1%11.0%0.2x
2022-0311.2x₹102 cr11.1%11.0%0.2x
2022-0212.3x₹102 cr11.1%11.0%0.2x
2022-0115.3x₹102 cr11.1%11.0%0.2x
2021-1210.5x₹102 cr11.1%11.0%0.2x
2021-1111.3x₹102 cr11.1%11.0%0.2x
2021-1012.2x₹102 cr11.1%11.0%0.2x
2021-0910.0x₹102 cr11.1%11.0%0.2x
2021-089.9x₹102 cr11.1%11.0%0.2x
2021-0710.3x₹102 cr11.1%11.0%0.2x
2021-0610.6x₹102 cr11.1%11.0%0.2x
2021-05—₹109 cr-9.9%—0.1x
2021-04—₹109 cr-9.9%—0.1x
2021-03—₹109 cr-9.9%—0.1x
2021-02—₹109 cr-9.9%—0.1x
2021-01—₹109 cr-9.9%—0.1x
2020-12—₹109 cr-9.9%—0.1x
2020-11—₹109 cr-9.9%—0.1x
2020-10—₹109 cr-9.9%—0.1x
2020-09—₹109 cr-9.9%—0.1x
2020-08—₹109 cr-9.9%—0.1x
2020-07—₹109 cr-9.9%—0.1x
2020-06—₹109 cr-9.9%—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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