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AJANTA PHARMA LTD (AJANTPHARM)

Health Technology · Pharmaceuticals: Major · 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.85 / 100
Profitability 86Growth 69Balance 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 53Earnings 59FII/DII 93

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹3,344 latest close · +0.5% over the last 90 sessions

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

₹3,344 month-end · +30.6% over 12 months

₹2,500₹3,000₹3,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,500₹3,000₹3,500Nov '25May '26Nov '26

₹3,344 month-end · +69.2% over 3 years

₹2,000₹2,500₹3,000₹3,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹2,500₹3,000₹3,500Nov '23May '25Nov '26

₹3,344 month-end · +391.4% since Jan '19

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

52-week range ₹2445.80 to ₹3796.00 · 1-year volatility 26.0%

Was the rally earned?

+31%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 23 points to the rise, while the multiple moved less (P/E 34.4x to 36.8x).
  • The share count barely moved.
Net profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23 ptsNet profit growthP/E change: +8 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+8 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: +31%+31%Share priceNet profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23ProfitP/E change: +8 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+8P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +31%+31%Share price
Net profit growth+23 ptsNet profit rose about 22%, which lifts the price.
P/E change+8 ptsThe P/E rose from 34.4x to 36.8x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+69%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 90 points, but investors now pay less per rupee of profit (P/E 43.1x to 36.8x), which took 21 points back.
  • The share count fell 3%.
Net profit growth: +87 pts. Points of the price return explained by net profit growing (or shrinking).+87 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 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: +69%+69%Share priceNet profit growth: +87 pts. Points of the price return explained by net profit growing (or shrinking).+87ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3SharesShare price: +69%+69%Share price
Net profit growth+87 ptsNet profit rose about 93%, which lifts the price.
P/E change-21 ptsThe P/E fell from 43.1x to 36.8x, which lowers the price.
Share count change+3 ptsShare count fell 3%, which lifts the price.
+141%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 95 points to the rise, while the multiple moved less (P/E 27.5x to 36.8x).
  • The share count fell 4%.
Net profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88 ptsNet profit growthP/E change: +47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+47 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +141%+141%Share priceNet profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88ProfitP/E change: +47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+47P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +141%+141%Share price
Net profit growth+88 ptsNet profit rose about 74%, which lifts the price.
P/E change+47 ptsThe P/E rose from 27.5x to 36.8x, which lifts the price.
Share count change+6 ptsShare count fell 4%, which lifts 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 SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-31.1%recovered 2020-04
1-year volatility26.0%annualised
Beta vs sector index0.843-year daily, correlation 0.41
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%−30%2020202120222023202420252026−29.9% 0%−10%−20%−30%2020202220242026−29.9%
Largest drawdowns

-31.1% (2020-03 peak to 2020-03 low, recovered 2020-04)

-30.8% (2021-07 peak to 2022-05 low, recovered 2023-07)

-30.7% (2024-09 peak to 2025-04 low, recovered 2026-07)

Most recent volume spikes

2026-11-02: 5.1x the 50-day median, price -3.2% that day

2026-10-30: 12.4x the 50-day median, price +1.4% 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?

36.8xP/E todayWithin its usual range
Against its own history73rd percentile
CheapestMedian 32.3xDearest

Usual range 21.8x to 44.2x since 2019-01.

Against Health Technology36.8x vs 37.0x
This company
36.8x
Sector median
37.0x

Close to the Health Technology median.

16.7x28.1x39.5x50.9xJan '19Aug '20Mar '22Oct '23May '25Nov '2616.7x28.1x39.5x50.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Health Technology peers?

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

  • ROCE92ndflat vs a year ago
  • Op. margin80th▼ 3 pts vs a year ago
  • Revenue growth70th▲ 11 pts vs a year ago
  • EPS growth67th▲ 14 pts vs a year ago
  • Debt/equity ↓74th▼ 16 pts vs a year ago
  • Cash cycle ↓26th▲ 6 pts vs a year ago
  • P/E ↓52nd▲ 5 pts vs a year ago
  • 12M momentum68th▲ 16 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 Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~25%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 51.0x, a holder earning 12%/yr needs earnings to grow about 24.9%/yr for 10 years, then trade at 15x.

Delivered11.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+13.4 ptsimplied minus delivered
Rank252ndmost demanding of 856

Over time

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

0%14%29% Jan 2019Nov 2026 0%14%29% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x26.4%27.5%28.6%
15x23.8%24.9%26.0%
20x20.6%21.6%22.7%

Drag a slider to test other assumptions

Implied: 24.9%/yr

Looking back

  • Jan 2020Price implied 16%/yr; EPS has since grown 16%/yr (7.0 yrs)
  • Jan 2021Price implied 21%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 22%/yr; EPS has since grown 11%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹3344.00
P/E
36.8x
ROCE
35.0%
Market Cap
₹41784 cr
Revenue (TTM)
₹5777 cr
P/S
7.2x
P/B
9.2x
ROE
25.1%
Operating Margin
26.0%
Debt / Equity
0.1x
Promoter Holding
63.5%
12M Momentum
30.6%

52-week range

₹2445.80₹3796.00
67% of the way from its 52-week low to its high

Price risk

1Y volatility
26.0%
Beta vs sector
1-year daily
0.80

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.89x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance14%Within range

Other income as a share of pre-tax profit (trailing twelve months): 14.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.89xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.89x (cash from operations ₹2,471 cr, net profit ₹2,792 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+21 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 21 days (124 vs 103). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress14% of fixed assetsWithin range

Capital work-in-progress is 14% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+9 days / 2 yrsWithin range

Days payable changed by +9 over two years. Bands: rise of up to 30 days; more than 30 days.

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 5.1 pts; promoters trimmed 2.7 pts; FIIs trimmed 1.4 pts.
  • The number of shareholders rose from 54,351 to 65,296 (+20%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters66.2%63.5%-2.7 pts
FIIs9.1%7.7%-1.4 pts
DIIs16.7%21.8%+5.1 pts
Public and others8.0%7.0%-1.0 pts

Number of shareholders

65,296shareholders+20% since Dec '23
54k60k65k71k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 54,351
Mar '24: 55,488
Jun '24: 70,316
Sep '24: 64,315
Dec '24: 66,896
Mar '25: 70,827
Jun '25: 68,882
Sep '25: 67,785
Dec '25: 65,409
Mar '26: 67,955
Jun '26: 65,296
 54k60k65k71k Dec '23Dec '24Dec '25Jun '26
Dec '23: 54,351
Mar '24: 55,488
Jun '24: 70,316
Sep '24: 64,315
Dec '24: 66,896
Mar '25: 70,827
Jun '25: 68,882
Sep '25: 67,785
Dec '25: 65,409
Mar '26: 67,955
Jun '26: 65,296

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

−0.7%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 AJANTA PHARMA 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 −20% to +17% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (+1.6%, 80% range −8.4% to +5.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−40%−20%0%+20%+40%+60%+80%
INDIAMART · Oct 2025: −36.1% vs market
VINATIORGA · Jun 2025: −32.5% vs market
ARE&M · Jun 2020: −29.9% vs market
SKFINDIA · Feb 2023: −29.1% vs market
EMAMILTD · Jun 2021: −25.0% vs market
IGL · Jun 2020: −22.8% vs market
EIHOTEL · Oct 2025: −22.4% vs market
3MINDIA · Aug 2023: −22.3% vs market
ABBOTINDIA · Aug 2025: −22.0% vs market
PIIND · Apr 2025: −21.3% vs market
AIAENG · Aug 2023: −21.1% vs market
VGUARD · Apr 2020: −21.0% vs market
INGERRAND · Nov 2024: −20.4% vs market
SUMICHEM · Sep 2025: −19.2% vs market
CRISIL · Jan 2025: −19.1% vs market
MANKIND · Feb 2025: −16.9% vs market
BRITANNIA · Feb 2020: −16.8% vs market
FINEORG · Jul 2020: −8.9% vs market
BAJAJ-AUTO · Apr 2020: −8.5% vs market
KAJARIACER · Aug 2021: −7.5% vs market
SCHAEFFLER · Oct 2025: −6.1% vs market
GLAXO · Oct 2024: −5.9% vs market
SFL · Jun 2020: −5.9% vs market
RHIM · Sep 2022: −4.0% vs market
INFY · Oct 2020: −1.5% vs market
PGHL · Oct 2025: +0.1% vs market
BIKAJI · Jun 2024: +1.3% vs market
ERIS · Jul 2020: +2.7% vs market
PIDILITIND · Aug 2025: +2.7% vs market
TCS · Feb 2020: +6.3% vs market
HAVELLS · Apr 2020: +10.0% vs market
COFORGE · Feb 2020: +10.5% vs market
CROMPTON · Jun 2020: +11.4% vs market
SUPREMEIND · Mar 2023: +13.3% vs market
PERSISTENT · Jul 2024: +13.4% vs market
ATUL · Jul 2020: +14.3% vs market
LTTS · Feb 2020: +16.4% vs market
MARICO · Oct 2025: +17.4% vs market
BALKRISIND · Jan 2020: +24.7% vs market
HCLTECH · Mar 2020: +25.2% vs market
LALPATHLAB · Sep 2025: +26.7% vs market
POLYCAB · Jun 2023: +29.5% vs market
BEL · Apr 2024: +32.2% vs market
CUMMINSIND · Jul 2023: +32.7% vs market
MPHASIS · May 2020: +34.6% vs market
EICHERMOT · Jul 2025: +36.0% vs market
JBCHEPHARM · Aug 2020: +39.4% vs market
THYROCARE · Jun 2020: +58.0% vs market
GRINDWELL · Aug 2021: +59.0% vs market
INOXINDIA · Oct 2025: +65.6% vs market
Similar setups −0.7%All companies −2.3%← 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
−0.7%
All companies' median
−2.3%
Beat the market
50% vs 48%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ATUL
Process Industries		 Jul 2020 23x28% +39%−6% +14%
ABBOTINDIA
Health Technology		 Aug 2025 46x46% +4%−12% −22%
CUMMINSIND
Producer Manufacturing		 Jul 2023 44x27% +60%0% +33%
CRISIL
Commercial Services		 Jan 2025 59x41% +33%−18% −19%
EICHERMOT
Consumer Durables		 Jul 2025 32x30% +10%−6% +36%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BAJAJ-AUTO
Consumer Durables		 Apr 2020 15x30% −12%−20% −9%
IGL
Utilities		 Jun 2020 25x31% +41%−15% −23%
INOXINDIA
Producer Manufacturing		 Oct 2025 46x38% +4%−6% +66%
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: P/S, drawdown from 12-month high and P/E. 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 AJANTA PHARMA LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CRISILCRISIL
Commercial Services
81%similar
P/Evolatility
INDIAN RAIL CAT AND TOUR IRCTCIRCTC
Consumer Services
77%similar
revenue growthmarket cap
PIDILITE INDUSTRIESPIDILITIND
Process Industries
74%similar
operating marginEPS growth
MARICOMARICO
Consumer Non-Durables
71%similar
ROCEvolatility
VARUN BEVERAGESVBL
Consumer Non-Durables
71%similar
operating marginEPS growth
ABBOTT INDIAABBOTINDIA
Health Technology
68%similar
market capP/E
CAPLIN POINT LABORATORIESCAPLIPOINT
Health Technology
68%similar
revenue growthdebt/equity
SUN PHARMACEUTICAL INDUSTRIESSUNPHARMA
Health Technology
67%similar
debt/equityP/E

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

What changed?

30 events since Jun '22

  1. OctPriceVolume reached 12.4x its 50-day median on 2026-10-30; price +1.4% that day.
  2. SepPromoterPromoter holding fell 2.8 pts to 63.5%.
  3. SepPeer rankMoved into the top quartile of Health Technology on operating margin (from the 2nd quartile).
  4. JulPriceRegained the 2024-09 peak, 15 months after the low.
  5. JunPeer rankSlipped to the 2nd quartile of Health Technology on operating margin (from the top quartile).
  6. JunPriceVolume reached 9.9x its 50-day median on 2026-06-29; price +6.4% that day.
  7. JanPriceVolume reached 8.7x its 50-day median on 2026-01-01; price +6.1% that day.
  8. DecPriceVolume reached 13.5x its 50-day median on 2025-12-24; price +2.5% that day.
Show 22 earlier events
  1. JunDividendDividend payout cut from 79% to 38% of profit.
  2. JunPriceVolume reached 6.0x its 50-day median on 2025-06-12; price +3.2% that day.
  3. AprPriceFell 31% from the Sep 2024 peak to the Apr 2025 low.
  4. FebPriceVolume reached 11.5x its 50-day median on 2025-02-14; price +2.6% that day.
  5. DecPriceVolume reached 8.5x its 50-day median on 2024-12-27; price +9.1% that day.
  6. JulValuationP/E crossed above the 90th percentile of its own history to date (42.3x).
  7. JulPriceVolume reached 11.1x its 50-day median on 2024-07-31; price +6.5% that day.
  8. JunResultsYear-on-year EPS growth turned positive.
  9. JunPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  10. MayPriceVolume reached 33.4x its 50-day median on 2024-05-03; price +6.7% that day.
  11. NovPeer rankSlipped to the 3rd quartile of Health Technology on EPS growth (from the 2nd quartile).
  12. SepPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  13. JulPriceRegained the 2021-07 peak, 14 months after the low.
  14. JulValuationP/E crossed above the 90th percentile of its own history to date (37.0x).
  15. JulPriceVolume reached 28.4x its 50-day median on 2023-07-28; price +4.1% that day.
  16. JunResultsYear-on-year EPS growth turned negative.
  17. JunPeer rankSlipped to the 3rd quartile of Health Technology on EPS growth (from the 2nd quartile).
  18. MayPriceVolume reached 5.3x its 50-day median on 2023-05-17; price +0.6% that day.
  19. MarPriceVolume reached 10.2x its 50-day median on 2023-03-02; price -0.7% that day.
  20. DecPriceVolume reached 20.7x its 50-day median on 2022-12-22; price +4.7% that day.
  21. AugPriceVolume reached 6.5x its 50-day median on 2022-08-19; price +2.9% that day.
  22. JunResultsRevenue (TTM) reached a new high of ₹3,341 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1136.8x₹5777 cr25.1%35.0%0.1x
2026-1038.6x₹5777 cr25.1%35.0%0.1x
2026-0939.9x₹5777 cr25.1%35.0%0.1x
2026-0842.6x₹5454 cr23.3%35.0%0.1x
2026-0741.0x₹5454 cr23.3%35.0%0.1x
2026-0640.5x₹5454 cr23.3%35.0%0.1x
2026-0536.1x₹5202 cr26.8%32.0%0.0x
2026-0434.8x₹5202 cr26.8%32.0%0.0x
2026-0334.5x₹5202 cr26.8%32.0%0.0x
2026-0238.4x₹4973 cr25.7%32.0%0.0x
2026-0135.7x₹4973 cr25.7%32.0%0.0x
2025-1235.5x₹4973 cr25.7%32.0%0.0x
2025-1134.4x₹4806 cr24.5%32.0%0.0x
2025-1033.1x₹4806 cr24.5%32.0%0.0x
2025-0932.3x₹4806 cr24.5%32.0%0.0x
2025-0833.6x₹4648 cr24.3%32.0%0.0x
2025-0737.3x₹4648 cr24.3%32.0%0.0x
2025-0634.9x₹4648 cr24.3%32.0%0.0x
2025-0535.1x₹4532 cr25.2%32.0%0.0x
2025-0437.9x₹4532 cr25.2%32.0%0.0x
2025-0336.7x₹4532 cr25.2%32.0%0.0x
2025-0235.9x₹4491 cr24.5%32.0%0.0x
2025-0138.9x₹4491 cr24.5%32.0%0.0x
2024-1242.4x₹4491 cr24.5%32.0%0.0x
2024-1145.0x₹4332 cr23.9%32.0%0.0x
2024-1045.7x₹4332 cr23.9%32.0%0.0x
2024-0947.7x₹4332 cr23.9%32.0%0.0x
2024-0850.9x₹4209 cr22.9%32.0%0.0x
2024-0742.3x₹4209 cr22.9%32.0%0.0x
2024-0635.9x₹4209 cr22.9%32.0%0.0x
2024-0550.8x₹3743 cr17.4%23.0%0.0x
2024-0448.3x₹3743 cr17.4%23.0%0.0x
2024-0348.6x₹3743 cr17.4%23.0%0.0x
2024-0248.1x₹3743 cr17.4%23.0%0.0x
2024-0147.4x₹3743 cr17.4%23.0%0.0x
2023-1245.4x₹3743 cr17.4%23.0%0.0x
2023-1143.1x₹3743 cr17.4%23.0%0.0x
2023-1038.4x₹3743 cr17.4%23.0%0.0x
2023-0939.2x₹3743 cr17.4%23.0%0.0x
2023-0837.6x₹3743 cr17.4%23.0%0.0x
2023-0737.0x₹3743 cr17.4%23.0%0.0x
2023-0632.2x₹3743 cr17.4%23.0%0.0x
2023-0523.5x₹3341 cr21.8%29.0%0.0x
2023-0423.6x₹3341 cr21.8%29.0%0.0x
2023-0321.7x₹3341 cr21.8%29.0%0.0x
2023-0221.3x₹3341 cr21.8%29.0%0.0x
2023-0121.7x₹3341 cr21.8%29.0%0.0x
2022-1221.8x₹3341 cr21.8%29.0%0.0x
2022-1122.1x₹3341 cr21.8%29.0%0.0x
2022-1023.3x₹3341 cr21.8%29.0%0.0x
2022-0922.9x₹3341 cr21.8%29.0%0.0x
2022-0824.6x₹3341 cr21.8%29.0%0.0x
2022-0723.0x₹3341 cr21.8%29.0%0.0x
2022-0622.2x₹3341 cr21.8%29.0%0.0x
2022-0522.7x₹2890 cr21.8%32.0%0.0x
2022-0422.8x₹2890 cr21.8%32.0%0.0x
2022-0324.0x₹2890 cr21.8%32.0%0.0x
2022-0222.8x₹2890 cr21.8%32.0%0.0x
2022-0129.1x₹2890 cr21.8%32.0%0.0x
2021-1229.6x₹2890 cr21.8%32.0%0.0x

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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