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AJMERA REALTY & INFRA INDIA LI (AJMERA)

Finance · Real Estate Development · 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.62 / 100
Profitability 59Growth 74Balance sheet 52
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.56 / 100
Price 80Earnings 51FII/DII 36
Compare withDLFLODHA DEVELOPERSPHOENIX MILLS

Share price

Closing priceAdjusted for splits and bonus issues.

₹133.02 latest close · −2.4% over the last 90 sessions

₹120₹130₹140Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹120₹130₹140Jul 3Sep 4Nov 9

₹133.02 month-end · −34.8% over 12 months

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

₹133.02 month-end · +52.1% over 3 years

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

₹133.02 month-end · +269.0% since Jan '19

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

52-week range ₹98.03 to ₹215.80 · 1-year volatility 47.6%

Was the rally earned?

-35%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 11 points, but investors now pay less per rupee of profit (P/E 29.6x to 16.9x), which took 45 points back.
  • The share count rose 8%.
Net profit growth: +17 pts. Points of the price return explained by net profit growing (or shrinking).+17 ptsNet profit growthP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45 ptsP/E changeShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7 ptsShare count changeShare price: −35%−35%Share priceNet profit growth: +17 pts. Points of the price return explained by net profit growing (or shrinking).+17ProfitP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45P/EShare count change: −7 pts. Points of the price return explained by the share count changing. More shares count against the price.−7SharesShare price: −35%−35%Share price
Net profit growth+17 ptsNet profit rose about 24%, which lifts the price.
P/E change-45 ptsThe P/E fell from 29.6x to 16.9x, which lowers the price.
Share count change-7 ptsShare count rose 8%, which lowers the price.
+52%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 83 points, but investors now pay less per rupee of profit (P/E 21.7x to 16.9x), which took 31 points back.
  • The share count rose 16%.
Net profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102 ptsNet profit growthP/E change: −31 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−31 ptsP/E changeShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18 ptsShare count changeShare price: +52%+52%Share priceNet profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102ProfitP/E change: −31 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−31P/EShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18SharesShare price: +52%+52%Share price
Net profit growth+102 ptsNet profit rose about 126%, which lifts the price.
P/E change-31 ptsThe P/E fell from 21.7x to 16.9x, which lowers the price.
Share count change-18 ptsShare count rose 16%, which lowers the price.
+136%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 242 points, but investors now pay less per rupee of profit (P/E 33.2x to 16.9x), which took 107 points back.
  • The share count rose 14%.
Net profit growth: +263 pts. Points of the price return explained by net profit growing (or shrinking).+263 ptsNet profit growthP/E change: −107 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−107 ptsP/E changeShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20 ptsShare count changeShare price: +136%+136%Share priceNet profit growth: +263 pts. Points of the price return explained by net profit growing (or shrinking).+263ProfitP/E change: −107 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−107P/EShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20SharesShare price: +136%+136%Share price
Net profit growth+263 ptsNet profit rose about 426%, which lifts the price.
P/E change-107 ptsThe P/E fell from 33.2x to 16.9x, which lowers the price.
Share count change-20 ptsShare count rose 14%, 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 DLF

How rough has the ride been?

Maximum drawdown-71.8%recovered 2021-06
1-year volatility47.6%annualised
Beta vs sector index1.303-year daily, correlation 0.48
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−67.7% 0%−20%−40%−60%2020202220242026−67.7%
Largest drawdowns

-71.8% (2019-04 peak to 2020-03 low, recovered 2021-06)

-57.3% (2024-12 peak to 2026-03 low, not yet recovered)

-54.9% (2022-02 peak to 2022-06 low, recovered 2024-01)

Most recent volume spikes

2026-11-05: 5.4x the 50-day median, price -5.2% that day

2026-11-04: 9.8x the 50-day median, price +5.5% that day

2026-10-16: 6.2x the 50-day median, price +5.8% 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?

16.9xP/E todayWithin its usual range
Against its own history37th percentile
CheapestMedian 20.7xDearest

Usual range 6.3x to 36.1x since 2019-01.

Against Finance16.9x vs 18.1x
This company
16.9x
Sector median
18.1x

7% below the Finance median.

3.0x19.1x35.2x51.3xJan '19Aug '20Mar '22Oct '23May '25Nov '263.0x19.1x35.2x51.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Finance peers?

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

  • ROCE68th▲ 8 pts vs a year ago
  • Op. margin50thflat vs a year ago
  • Revenue growth81st▲ 33 pts vs a year ago
  • EPS growth59thflat vs a year ago
  • Debt/equity ↓31st▲ 4 pts vs a year ago
  • Cash cycle ↓22nd▲ 20 pts vs a year ago
  • P/E ↓60th▲ 18 pts vs a year ago
  • 12M momentum19th▼ 51 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

~18%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 27.3x, a holder earning 12%/yr needs earnings to grow about 18.1%/yr for 10 years, then trade at 15x.

Delivered6.8%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+11.3 ptsimplied minus delivered
Rank298thmost demanding of 856

Over time

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

-4%13%30% Jan 2019Nov 2026 -4%13%30% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x19.5%20.6%21.7%
15x17.0%18.1%19.1%
20x13.8%14.8%15.9%

Drag a slider to test other assumptions

Implied: 18.1%/yr

Looking back

  • Jan 2020Price implied 5%/yr; EPS has since grown 9%/yr (7.0 yrs)
  • Jan 2021Price implied 3%/yr; EPS has since grown 27%/yr (6.0 yrs)
  • Jan 2022Price implied 18%/yr; EPS has since grown 35%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹133.02
P/E
16.9x
ROCE
14.0%
Market Cap
₹2609 cr
Revenue (TTM)
₹1149 cr
P/S
2.3x
P/B
1.9x
ROE
11.0%
Operating Margin
29.0%
Debt / Equity
0.5x
Promoter Holding
68.6%
12M Momentum
-34.8%

52-week range

₹98.03₹215.80
30% of the way from its 52-week low to its high

Price risk

1Y volatility
47.6%
Beta vs sector
1-year daily
1.42

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.77x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 6checks within range2 near a threshold
Other income reliance4%Within range

Other income as a share of pre-tax profit (trailing twelve months): 4.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.77xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.77x (cash from operations ₹297 cr, net profit ₹387 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+26 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 26 days (142 vs 116). 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.

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 3 years, promoters trimmed 1.2 pts; FIIs added 0.9 pts; DIIs trimmed 0.8 pts.
  • The number of shareholders rose from 24,214 to 27,336 (+13%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters69.7%68.6%-1.2 pts
FIIs0.0%0.9%+0.9 pts
DIIs1.6%0.8%-0.8 pts
Public and others28.6%29.7%+1.1 pts

Number of shareholders

27,336shareholders+13% since Sep '23
24k26k27k28k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 24,214
Dec '23: 24,824
Mar '24: 25,188
Jun '24: 27,506
Sep '24: 28,296
Dec '24: 27,572
Mar '25: 27,217
Jun '25: 27,784
Sep '25: 27,596
Dec '25: 27,299
Mar '26: 25,013
Jun '26: 27,336
 24k26k27k28k Sep '23Sep '24Sep '25Jun '26
Sep '23: 24,214
Dec '23: 24,824
Mar '24: 25,188
Jun '24: 27,506
Sep '24: 28,296
Dec '24: 27,572
Mar '25: 27,217
Jun '25: 27,784
Sep '25: 27,596
Dec '25: 27,299
Mar '26: 25,013
Jun '26: 27,336

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

−5.6%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 AJMERA REALTY & INFRA INDIA LI 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 −25% to +19% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−3.8%, 80% range −10.7% to +6.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SOLARA · Nov 2021: −67.1% vs market
STAR · Jul 2021: −60.0% vs market
TAKE · Jan 2020: −51.8% vs market
SIGACHI · Mar 2025: −50.6% vs market
ANNAPURNA · Sep 2025: −48.1% vs market
SURAJEST · Jun 2025: −46.4% vs market
THEINVEST · Oct 2025: −35.6% vs market
5PAISA · Nov 2024: −34.4% vs market
GLOBUSSPR · Jul 2023: −32.2% vs market
SUDARSCHEM · Oct 2021: −30.3% vs market
SATIA · May 2023: −30.2% vs market
MINDACORP · Jan 2020: −27.3% vs market
CONFIPET · Jan 2024: −25.7% vs market
TEXRAIL · Mar 2020: −23.8% vs market
DMCC · Mar 2023: −23.6% vs market
GRPLTD · Aug 2025: −15.7% vs market
INDOCO · Jan 2022: −14.4% vs market
SHK · Nov 2021: −14.1% vs market
NEULANDLAB · Oct 2021: −14.1% vs market
ARVSMART · Jan 2020: −12.9% vs market
FSL · Mar 2022: −11.2% vs market
CARYSIL · Sep 2023: −11.2% vs market
AWHCL · Jan 2022: −9.7% vs market
KRISHCA · Oct 2025: −8.0% vs market
AEROENTER · May 2024: −7.4% vs market
CAMLINFINE · Mar 2022: −3.8% vs market
BFUTILITIE · Jul 2022: +0.8% vs market
ABSMARINE · Jul 2025: +3.4% vs market
POKARNA · Oct 2022: +3.5% vs market
GNA · Oct 2022: +5.6% vs market
NACLIND · Aug 2021: +7.9% vs market
SHRIRAMPPS · Jul 2023: +8.9% vs market
WELENT · May 2020: +10.6% vs market
CANTABIL · Sep 2024: +10.7% vs market
KRSNAA · Jun 2024: +13.8% vs market
KOLTEPATIL · Oct 2020: +14.5% vs market
HIKAL · Mar 2020: +14.6% vs market
STERTOOLS · Jan 2024: +19.9% vs market
INSECTICID · Jul 2020: +20.1% vs market
PURVA · May 2020: +23.5% vs market
RKFORGE · Feb 2020: +39.8% vs market
GREENPLY · May 2020: +44.5% vs market
SOBHA · Apr 2020: +51.7% vs market
JUBLPHARMA · Mar 2020: +52.0% vs market
SALASAR · Apr 2022: +58.9% vs market
MMFL · Mar 2020: +64.4% vs market
SEAMECLTD · May 2025: +70.7% vs market
ROSSELLIND · Oct 2021: +76.6% vs market
SHAKTIPUMP · Feb 2020: +88.7% vs market
AEGISLOG · Dec 2023: +98.2% vs market
Similar setups −5.6%All companies −1.8%← 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
−5.6%
All companies' median
−1.8%
Beat the market
48% vs 48%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HIKAL
Health Technology		 Mar 2020 8x15% −60%−62% +15%
RKFORGE
Producer Manufacturing		 Feb 2020 8x16% −39%−47% +40%
SOLARA
Health Technology		 Nov 2021 25x15% +9%−30% −67%
SIGACHI
Health Technology		 Mar 2025 16x17% −37%−52% −51%
SOBHA
Finance		 Apr 2020 7x14% −58%−66% +52%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CAMLINFINE
Process Industries		 Mar 2022 38x13% −1%−38% −4%
KOLTEPATIL
Finance		 Oct 2020 18x16% −33%−37% +15%
SHRIRAMPPS
Finance		 Jul 2023 18x10% −3%−23% +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: 12-month momentum, drawdown from 12-month high 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 AJMERA REALTY & INFRA INDIA LI. 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.

ENVIRO INFRA ENGINEERSEIEL
Industrial Services
68%similar
P/Erevenue
DEEP INDUSTRIESDEEPINDS
Industrial Services
65%similar
revenue growthvolatility
TRUALT BIOENERGYTRUALT
Energy Minerals
61%similar
market capP/E
SANGHVI MOVERSSANGHVIMOV
Industrial Services
60%similar
debt/equityrevenue
SURAJ ESTATE DEVELOPERS LIMITESURAJEST
Industrial Services
60%similar
ROCEpromoter holding
ANAND RATHI SHARE AND STOCK BRARSSBL
Finance
64%similar
promoter holdingmarket cap
ARIHANT CAPITAL MARKETSARIHANTCAP
Finance
58%similar
debt/equitypromoter holding
SUNTECK REALTYSUNTECK
Finance
55%similar
revenuerevenue growth

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

What changed?

30 events since Oct '23

  1. NovPriceVolume reached 9.8x its 50-day median on 2026-11-04; price +5.5% that day.
  2. JunResultsYear-on-year EPS growth turned positive.
  3. JunPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
  4. MayPriceVolume reached 18.2x its 50-day median on 2026-05-25; price +9.5% that day.
  5. MarPriceFell 57% from the Dec 2024 peak to the Mar 2026 low.
  6. MarPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  7. JanPriceVolume reached 8.0x its 50-day median on 2026-01-14; price +1.7% that day.
  8. DecResultsYear-on-year EPS growth turned negative.
Show 22 earlier events
  1. DecPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  2. NovPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  3. OctPriceVolume reached 5.5x its 50-day median on 2025-10-08; price +3.1% that day.
  4. JulPriceVolume reached 22.4x its 50-day median on 2025-07-25; price +4.3% that day.
  5. JunSharesShare count is up 11.4% over 12 months.
  6. JunPriceVolume reached 13.7x its 50-day median on 2025-06-06; price +7.6% that day.
  7. MarPromoterPromoter holding fell 6.0 pts to 68.2%.
  8. MarPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  9. DecPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  10. OctPriceRegained the 2024-04 peak, 0 months after the low.
  11. OctPriceFell 27% from the Apr 2024 peak to the Oct 2024 low.
  12. OctPriceVolume reached 68.7x its 50-day median on 2024-10-15; price +15.6% that day.
  13. SepPriceVolume reached 12.5x its 50-day median on 2024-09-23; price +1.4% that day.
  14. JunPromoterPromoter holding rose 4.5 pts to 74.2%.
  15. JunResultsRevenue (TTM) reached a new high of ₹700 cr.
  16. JunPeer rankSlipped to the 2nd quartile of Finance on EPS growth (from the top quartile).
  17. JunDebtDebt / equity fell below 1.0x (0.93x).
  18. MayPriceVolume reached 6.5x its 50-day median on 2024-05-09; price -4.2% that day.
  19. AprValuationP/E crossed above the 90th percentile of its own history to date (41.2x).
  20. FebPriceVolume reached 19.6x its 50-day median on 2024-02-06; price +20.0% that day.
  21. JanPriceRegained the 2022-02 peak, 19 months after the low.
  22. OctPriceVolume reached 57.5x its 50-day median on 2023-10-10; price +13.4% that day.

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
2026-1116.9x₹1149 cr11.0%14.0%0.5x
2026-1016.9x₹1149 cr11.0%14.0%0.5x
2026-0915.1x₹1149 cr11.0%14.0%0.5x
2026-0815.3x₹1090 cr10.6%14.0%0.5x
2026-0716.6x₹1090 cr10.6%14.0%0.5x
2026-0617.1x₹1090 cr10.6%14.0%0.5x
2026-0519.6x₹810 cr9.6%13.0%0.6x
2026-0420.5x₹810 cr9.6%13.0%0.6x
2026-0316.5x₹810 cr9.6%13.0%0.6x
2026-0219.8x₹821 cr10.0%13.0%0.6x
2026-0123.3x₹821 cr10.0%13.0%0.6x
2025-1229.6x₹821 cr10.0%13.0%0.6x
2025-1129.6x₹802 cr10.4%13.0%0.6x
2025-1031.1x₹802 cr10.4%13.0%0.6x
2025-0928.7x₹802 cr10.4%13.0%0.6x
2025-0825.9x₹738 cr9.9%13.0%0.6x
2025-0726.7x₹738 cr9.9%13.0%0.6x
2025-0627.5x₹738 cr9.9%13.0%0.6x
2025-0524.0x₹819 cr14.3%12.0%0.9x
2025-0423.0x₹819 cr14.3%12.0%0.9x
2025-0325.5x₹819 cr14.3%12.0%0.9x
2025-0220.7x₹833 cr14.0%12.0%0.9x
2025-0126.8x₹833 cr14.0%12.0%0.9x
2024-1230.6x₹833 cr14.0%12.0%0.9x
2024-1134.1x₹778 cr12.6%12.0%0.9x
2024-1028.4x₹778 cr12.6%12.0%0.9x
2024-0921.3x₹778 cr12.6%12.0%0.9x
2024-0823.9x₹700 cr11.4%12.0%0.9x
2024-0725.9x₹700 cr11.4%12.0%0.9x
2024-0623.2x₹700 cr11.4%12.0%0.9x
2024-0533.0x₹431 cr8.8%8.0%1.1x
2024-0441.2x₹431 cr8.8%8.0%1.1x
2024-0335.9x₹431 cr8.8%8.0%1.1x
2024-0236.3x₹431 cr8.8%8.0%1.1x
2024-0128.7x₹431 cr8.8%8.0%1.1x
2023-1221.8x₹431 cr8.8%8.0%1.1x
2023-1121.7x₹431 cr8.8%8.0%1.1x
2023-1018.8x₹431 cr8.8%8.0%1.1x
2023-0918.9x₹431 cr8.8%8.0%1.1x
2023-0818.4x₹431 cr8.8%8.0%1.1x
2023-0719.5x₹431 cr8.8%8.0%1.1x
2023-0618.6x₹431 cr8.8%8.0%1.1x
2023-0525.7x₹483 cr6.1%8.0%1.2x
2023-0423.5x₹483 cr6.1%8.0%1.2x
2023-0321.6x₹483 cr6.1%8.0%1.2x
2023-0221.5x₹483 cr6.1%8.0%1.2x
2023-0121.7x₹483 cr6.1%8.0%1.2x
2022-1224.2x₹483 cr6.1%8.0%1.2x
2022-1125.3x₹483 cr6.1%8.0%1.2x
2022-1018.8x₹483 cr6.1%8.0%1.2x
2022-0919.9x₹483 cr6.1%8.0%1.2x
2022-0820.9x₹483 cr6.1%8.0%1.2x
2022-0721.1x₹483 cr6.1%8.0%1.2x
2022-0618.0x₹483 cr6.1%8.0%1.2x
2022-0532.3x₹347 cr4.4%6.0%1.2x
2022-0441.1x₹347 cr4.4%6.0%1.2x
2022-0338.5x₹347 cr4.4%6.0%1.2x
2022-0238.6x₹347 cr4.4%6.0%1.2x
2022-0151.3x₹347 cr4.4%6.0%1.2x
2021-1233.0x₹347 cr4.4%6.0%1.2x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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