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AMBUJA CEMENTS LTD (AMBUJACEM)

Non-Energy Minerals · Construction Materials · 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.66 / 100
Profitability 55Growth 44Balance 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.30 / 100
Price 40Earnings 23FII/DII 27
Compare withULTRATECH CEMENTGRASIM INDUSTRIESSHREE CEMENTS

Share price

Closing priceAdjusted for splits and bonus issues.

₹389.55 latest close · −12.1% over the last 90 sessions

₹350₹400₹450Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹350₹400₹450Jul 3Sep 4Nov 9

₹389.55 month-end · −29.2% over 12 months

₹400₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹500Nov '25May '26Nov '26

₹389.55 month-end · −11.3% over 3 years

₹400₹500₹600₹700Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹500₹600₹700Nov '23May '25Nov '26

₹389.55 month-end · +85.6% since Jan '19

₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹341.00 to ₹588.75 · 1-year volatility 29.3%

Was the rally earned?

-29%share price, 1 yearMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 29.9x to 21.8x); per-share earnings took off 2 points.
  • The share count fell 9%.
Net profit growth: −10 pts. Points of the price return explained by net profit growing (or shrinking).−10 ptsNet profit growthP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27 ptsP/E changeShare count change: +8 pts. Points of the price return explained by the share count changing. More shares count against the price.+8 ptsShare count changeShare price: −29%−29%Share priceNet profit growth: −10 pts. Points of the price return explained by net profit growing (or shrinking).−10ProfitP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27P/EShare count change: +8 pts. Points of the price return explained by the share count changing. More shares count against the price.+8SharesShare price: −29%−29%Share price
Net profit growth-10 ptsNet profit fell about 11%, which lowers the price.
P/E change-27 ptsThe P/E fell from 29.9x to 21.8x, which lowers the price.
Share count change+8 ptsShare count fell 9%, which lifts the price.
-11%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 30 points, but investors now pay less per rupee of profit (P/E 33.8x to 21.8x), which took 41 points back.
  • The share count rose 18%.
Net profit growth: +46 pts. Points of the price return explained by net profit growing (or shrinking).+46 ptsNet profit growthP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41 ptsP/E changeShare count change: −16 pts. Points of the price return explained by the share count changing. More shares count against the price.−16 ptsShare count changeShare price: −11%−11%Share priceNet profit growth: +46 pts. Points of the price return explained by net profit growing (or shrinking).+46ProfitP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41P/EShare count change: −16 pts. Points of the price return explained by the share count changing. More shares count against the price.−16SharesShare price: −11%−11%Share price
Net profit growth+46 ptsNet profit rose about 63%, which lifts the price.
P/E change-41 ptsThe P/E fell from 33.8x to 21.8x, which lowers the price.
Share count change-16 ptsShare count rose 18%, which lowers the price.
+4%share price, 5 yearsRoughly flat
  • The share price was roughly flat over 5 years (+4%).
  • The share count rose 6%.
Net profit growth: +47 pts. Points of the price return explained by net profit growing (or shrinking).+47 ptsNet profit growthP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: +4%+4%Share priceNet profit growth: +47 pts. Points of the price return explained by net profit growing (or shrinking).+47ProfitP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +4%+4%Share price
Net profit growth+47 ptsNet profit rose about 58%, which lifts the price.
P/E change-37 ptsThe P/E fell from 31.5x to 21.8x, which lowers the price.
Share count change-5 ptsShare count rose 6%, 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 ULTRATECH CEMENT

How rough has the ride been?

Maximum drawdown-50.9%not yet recovered
1-year volatility29.3%annualised
Beta vs sector index1.013-year daily, correlation 0.68
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−49.9% 0%−20%−40%2020202220242026−49.9%
Largest drawdowns

-50.9% (2024-07 peak to 2026-10 low, not yet recovered)

-43.9% (2022-12 peak to 2023-02 low, recovered 2024-02)

-41.7% (2019-05 peak to 2020-03 low, recovered 2020-10)

Most recent volume spikes

2026-10-29: 6.2x the 50-day median, price +1.0% that day

2026-10-27: 6x the 50-day median, price -5.2% 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?

21.8xP/E todayWithin its usual range
Against its own history27th percentile
CheapestMedian 28.0xDearest

Usual range 18.6x to 39.9x since 2019-01.

Against Non-Energy Minerals21.8x vs 21.8x
This company
21.8x
Sector median
21.8x

Close to the Non-Energy Minerals median.

8.6x22.0x35.4x48.7xJan '19Aug '20Mar '22Oct '23May '25Nov '268.6x22.0x35.4x48.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

  • ROCE30th▼ 19 pts vs a year ago
  • Op. margin80th▲ 5 pts vs a year ago
  • Revenue growth43rd▼ 31 pts vs a year ago
  • EPS growth35th▼ 40 pts vs a year ago
  • Debt/equity ↓94thflat vs a year ago
  • Cash cycle ↓74th▲ 23 pts vs a year ago
  • P/E ↓50th▲ 11 pts vs a year ago
  • 12M momentum23rd▼ 47 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~17%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 25.6x, a holder earning 12%/yr needs earnings to grow about 17.4%/yr for 10 years, then trade at 15x.

Delivered10.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+6.9 ptsimplied minus delivered
Rank389thmost demanding of 856

Over time

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

0%14%27% Jan 2019Nov 2026 0%14%27% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x18.9%19.9%21.0%
15x16.3%17.4%18.4%
20x13.2%14.2%15.2%

Drag a slider to test other assumptions

Implied: 17.4%/yr

Looking back

  • Jan 2020Price implied 18%/yr; EPS has since grown 6%/yr (7.2 yrs)
  • Jan 2021Price implied 18%/yr; EPS has since grown 8%/yr (6.2 yrs)
  • Jan 2022Price implied 21%/yr; EPS has since grown 8%/yr (5.2 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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹389.55
P/E
21.8x
ROCE
6.0%
Market Cap
₹96810 cr
Revenue (TTM)
₹39868 cr
P/S
2.4x
P/B
1.6x
ROE
7.5%
Operating Margin
17.0%
Debt / Equity
0.0x
Promoter Holding
67.3%
12M Momentum
-29.2%

52-week range

₹341.00₹588.75
20% of the way from its 52-week low to its high

Price risk

1Y volatility
29.3%
Beta vs sector
1-year daily
1.08

Balance sheet & cash

Interest cover
operating profit ÷ interest
13.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.85x
Share count, 1Y
+0.2%

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance15%Within range

Other income as a share of pre-tax profit (trailing twelve months): 14.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.85xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.85x (cash from operations ₹13,245 cr, net profit ₹15,666 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+4 daysWithin range

Debtor days are above the median of the previous three fiscal years by 4 days (17 vs 13). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress16% of fixed assetsWithin range

Capital work-in-progress is 16% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+31 days / 2 yrsNear threshold

Days payable changed by +31 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, FIIs trimmed 6.3 pts; promoters added 4.1 pts; DIIs added 3.9 pts.
  • The number of shareholders rose from 5.6 lakh to 6.7 lakh (+19%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters63.2%67.3%+4.1 pts
FIIs11.9%5.6%-6.3 pts
DIIs15.6%19.4%+3.9 pts
Public and others9.1%7.4%-1.7 pts

Number of shareholders

6.7 lakhshareholders+19% since Dec '23
5.4L5.9L6.3L6.7L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 5.6 lakh
Mar '24: 5.4 lakh
Jun '24: 6.1 lakh
Sep '24: 6.1 lakh
Dec '24: 6.3 lakh
Mar '25: 6.4 lakh
Jun '25: 6.2 lakh
Sep '25: 6.2 lakh
Dec '25: 6.3 lakh
Mar '26: 6.1 lakh
Jun '26: 6.7 lakh
 5.4L5.9L6.3L6.7L Dec '23Dec '24Dec '25Jun '26
Dec '23: 5.6 lakh
Mar '24: 5.4 lakh
Jun '24: 6.1 lakh
Sep '24: 6.1 lakh
Dec '24: 6.3 lakh
Mar '25: 6.4 lakh
Jun '25: 6.2 lakh
Sep '25: 6.2 lakh
Dec '25: 6.3 lakh
Mar '26: 6.1 lakh
Jun '26: 6.7 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

−6.5%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 AMBUJA CEMENTS 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 −26% to +10% vs the market, against −7% for all non-financial companies in the same months.
  • The gap against the base rate (+0.1%, 80% range −4.6% to +2.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−80%−60%−40%−20%0%+20%+40%+60%+80%
PRINCEPIPE · Apr 2024: −61.3% vs market
ZEEL · Mar 2023: −56.1% vs market
ORIENTCEM · Sep 2025: −46.1% vs market
SYNGENE · Sep 2025: −41.7% vs market
HATHWAY · May 2025: −34.0% vs market
SANOFI · Feb 2025: −33.0% vs market
FINPIPE · Aug 2025: −30.9% vs market
BHEL · Jan 2020: −29.2% vs market
LXCHEM · May 2025: −29.0% vs market
ARE&M · Oct 2025: −27.8% vs market
MRF · Apr 2021: −27.2% vs market
WHIRLPOOL · May 2023: −26.9% vs market
TATACHEM · May 2023: −26.1% vs market
LUPIN · Dec 2021: −25.6% vs market
RHIM · Jun 2025: −22.9% vs market
WONDERLA · Jun 2025: −22.5% vs market
TTKPRESTIG · May 2025: −15.1% vs market
DALBHARAT · Feb 2024: −13.0% vs market
ESCORTS · Jun 2025: −12.1% vs market
JUSTDIAL · Oct 2025: −12.1% vs market
CONCOR · Aug 2025: −9.9% vs market
KANSAINER · Apr 2024: −9.5% vs market
DEEPAKNTR · Aug 2025: −9.1% vs market
ATUL · Oct 2025: −7.8% vs market
ACC · Jan 2023: −7.1% vs market
APLLTD · Jun 2023: −6.0% vs market
GRAPHITE · Jun 2023: −4.3% vs market
SHRIPISTON · Jun 2020: −3.9% vs market
MARUTI · Apr 2021: −3.4% vs market
CIEINDIA · May 2025: −2.9% vs market
EXIDEIND · May 2025: −2.3% vs market
HARSHA · May 2025: −1.5% vs market
ENDURANCE · Feb 2024: −0.9% vs market
IPCALAB · Jul 2023: +1.5% vs market
BOSCHLTD · Sep 2022: +3.6% vs market
CIPLA · May 2023: +5.8% vs market
FMGOETZE · Jun 2022: +9.3% vs market
ZYDUSWELL · Jul 2023: +10.7% vs market
ULTRACEMCO · Sep 2022: +13.7% vs market
SUNDRMFAST · Oct 2025: +15.2% vs market
VOLTAS · May 2023: +15.3% vs market
ALKEM · Sep 2023: +15.6% vs market
FDC · Jul 2022: +18.0% vs market
DRREDDY · Aug 2022: +20.7% vs market
SHREECEM · Aug 2024: +24.6% vs market
ZYDUSLIFE · Oct 2023: +25.3% vs market
STARCEMENT · Jul 2022: +45.1% vs market
AUROPHARMA · Sep 2025: +53.4% vs market
FORTIS · Feb 2024: +56.5% vs market
MAHLIFE · Apr 2020: +68.4% vs market
Similar setups −6.5%All companies −6.6%← 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
−6.5%
All companies' median
−6.6%
Beat the market
34% vs 43%

50 past situations · 50 companies · 25 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
WHIRLPOOL
Consumer Durables		 May 2023 32x10% −13%−22% −27%
ESCORTS
Producer Manufacturing		 Jun 2025 29x11% −20%−24% −12%
ZYDUSWELL
Consumer Non-Durables		 Jul 2023 30x6% −9%−17% +11%
EXIDEIND
Producer Manufacturing		 May 2025 42x10% −21%−33% −2%
CONCOR
Transportation		 Aug 2025 31x14% −32%−33% −10%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
APLLTD
Health Technology		 Jun 2023 37x7% −13%−15% −6%
DALBHARAT
Non-Energy Minerals		 Feb 2024 37x8% +10%−16% −13%
MARUTI
Consumer Durables		 Apr 2021 34x9% +21%−22% −3%
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 P/S. 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 AMBUJA CEMENTS 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.

VARDHMAN TEXTILES LIMTEDVTL
Process Industries
66%similar
revenue growthoperating margin
KANSAI NEROLAC PAINTSKANSAINER
Process Industries
65%similar
volatilityEPS growth
CIE AUTOMOTIVE INDIACIEINDIA
Producer Manufacturing
64%similar
promoter holdingvolatility
CONTAINER CORPORATION OF INDIACONCOR
Transportation
61%similar
volatilitymarket cap
DLFDLF
Finance
57%similar
ROCEdebt/equity
SHREE CEMENTSSHREECEM
Non-Energy Minerals
57%similar
market caprevenue
ACCACC
Non-Energy Minerals
52%similar
revenuedebt/equity
MAHARASHTRA SEAMLESSMAHSEAMLES
Non-Energy Minerals
51%similar
volatilityoperating margin

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

What changed?

30 events since Jun '23

  1. OctPriceFell 51% from the Jul 2024 peak to the Oct 2026 low.
  2. OctPriceVolume reached 6.2x its 50-day median on 2026-10-29; price +1.0% that day.
  3. SepResultsYear-on-year EPS growth turned negative.
  4. SepPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  5. JunResultsYear-on-year EPS growth turned positive.
  6. MayPriceVolume reached 5.2x its 50-day median on 2026-05-04; price +0.2% that day.
  7. MarResultsYear-on-year EPS growth turned negative.
  8. MarPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
Show 22 earlier events
  1. DecPriceVolume reached 8.2x its 50-day median on 2025-12-23; price +1.3% that day.
  2. SepPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  3. SepPriceVolume reached 20.9x its 50-day median on 2025-09-11; price -1.1% that day.
  4. JulSharesShare count is up 12.0% over 12 months.
  5. MarPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  6. JanPriceVolume reached 6.2x its 50-day median on 2025-01-29; price -3.9% that day.
  7. DecPromoterPromoter holding fell 2.8 pts to 67.6%.
  8. NovPriceVolume reached 23.0x its 50-day median on 2024-11-21; price -11.9% that day.
  9. SepPromoterPromoter holding rose 3.6 pts to 70.3%.
  10. SepInstitutionsFII + DII holding fell 4.8 pts over 2 quarters to 22.6%.
  11. SepPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
  12. AugPriceVolume reached 5.1x its 50-day median on 2024-08-23; price +0.3% that day.
  13. JunPromoterPromoter holding rose 3.5 pts to 66.7%.
  14. JunResultsYear-on-year EPS growth turned positive.
  15. JunSharesShare count is up 10.8% over 12 months.
  16. JunPriceVolume reached 8.0x its 50-day median on 2024-06-04; price -17.0% that day.
  17. FebPriceRegained the 2022-12 peak, 12 months after the low.
  18. JanPriceVolume reached 5.2x its 50-day median on 2024-01-03; price +1.0% that day.
  19. DecValuationP/E crossed above the 90th percentile of its own history to date (40.0x).
  20. DecPriceVolume reached 11.8x its 50-day median on 2023-12-05; price +7.3% that day.
  21. JulValuationP/E crossed above the 90th percentile of its own history to date (35.6x).
  22. JunResultsYear-on-year EPS growth turned negative.

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
2026-1121.8x₹39868 cr7.5%6.0%0.0x
2026-1019.5x₹39868 cr8.0%6.0%0.0x
2026-0920.9x₹39868 cr8.0%6.0%0.0x
2026-0821.0x₹40657 cr8.6%6.0%0.0x
2026-0722.7x₹40657 cr8.6%6.0%0.0x
2026-0622.1x₹40657 cr8.6%6.0%0.0x
2026-0528.3x₹39722 cr8.6%11.0%0.0x
2026-0428.0x₹39722 cr8.6%11.0%0.0x
2026-0325.3x₹39722 cr8.6%11.0%0.0x
2026-0221.2x₹38856 cr12.5%11.0%0.0x
2026-0121.6x₹38856 cr12.5%11.0%0.0x
2025-1223.5x₹38856 cr12.5%11.0%0.0x
2025-1129.9x₹37233 cr9.4%11.0%0.0x
2025-1030.7x₹37233 cr9.4%11.0%0.0x
2025-0931.0x₹37233 cr9.4%11.0%0.0x
2025-0832.2x₹35336 cr8.9%11.0%0.0x
2025-0733.9x₹35336 cr8.9%11.0%0.0x
2025-0633.1x₹35336 cr8.9%11.0%0.0x
2025-0530.6x₹34249 cr11.9%13.0%0.0x
2025-0429.8x₹34249 cr11.9%13.0%0.0x
2025-0329.8x₹34249 cr11.9%13.0%0.0x
2025-0234.5x₹32967 cr8.5%13.0%0.0x
2025-0138.0x₹32967 cr8.5%13.0%0.0x
2024-1239.7x₹32967 cr8.5%13.0%0.0x
2024-1134.2x₹32839 cr9.5%13.0%0.0x
2024-1037.4x₹32839 cr9.5%13.0%0.0x
2024-0940.8x₹32839 cr9.5%13.0%0.0x
2024-0837.9x₹33160 cr10.3%13.0%0.0x
2024-0741.8x₹33160 cr10.3%13.0%0.0x
2024-0641.2x₹33160 cr10.3%13.0%0.0x
2024-0548.7x₹38937 cr8.6%12.0%0.0x
2024-0447.6x₹38937 cr8.6%12.0%0.0x
2024-0347.1x₹38937 cr8.6%12.0%0.0x
2024-0246.6x₹38937 cr8.6%12.0%0.0x
2024-0143.1x₹38937 cr8.6%12.0%0.0x
2023-1240.0x₹38937 cr8.6%12.0%0.0x
2023-1133.8x₹38937 cr8.6%12.0%0.0x
2023-1032.6x₹38937 cr8.6%12.0%0.0x
2023-0932.7x₹38937 cr8.6%12.0%0.0x
2023-0832.9x₹38937 cr8.6%12.0%0.0x
2023-0735.6x₹38937 cr8.6%12.0%0.0x
2023-0632.7x₹38937 cr8.6%12.0%0.0x
2023-0530.3x₹28965 cr13.2%17.0%0.0x
2023-0428.3x₹28965 cr13.2%17.0%0.0x
2023-0326.1x₹28965 cr13.2%17.0%0.0x
2023-0224.4x₹28965 cr13.2%17.0%0.0x
2023-0128.7x₹28965 cr13.2%17.0%0.0x
2022-1237.4x₹28965 cr13.2%17.0%0.0x
2022-1140.8x₹28965 cr13.2%17.0%0.0x
2022-1038.1x₹28965 cr13.2%17.0%0.0x
2022-0936.8x₹28965 cr13.2%17.0%0.0x
2022-0829.4x₹28965 cr13.2%17.0%0.0x
2022-0726.8x₹28965 cr13.2%17.0%0.0x
2022-0625.9x₹28965 cr13.2%17.0%0.0x
2022-0526.4x₹28965 cr13.2%17.0%0.0x
2022-0426.6x₹28965 cr13.2%17.0%0.0x
2022-0321.4x₹28965 cr13.2%17.0%0.0x
2022-0226.4x₹24516 cr12.3%14.0%0.0x
2022-0130.7x₹24516 cr12.3%14.0%0.0x
2021-1231.7x₹24516 cr12.3%14.0%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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