Share price
₹35.49 latest close · −8.0% over the last 90 sessions
₹35.49 month-end · −33.4% over 12 months
₹35.49 month-end · −7.8% over 3 years
₹35.49 month-end · +77.0% since Jan '19
52-week range ₹30.30 to ₹56.24 · 1-year volatility 38.4%
Was the rally earned?
Mostly earnings.
- Per-share earnings took off 26 points, while the multiple moved less (P/E 10.9x to 10.0x).
- The share count barely moved.
Earnings helped, the multiple did not.
- Per-share earnings added 73 points, but investors now pay less per rupee of profit (P/E 23.2x to 10.0x), which took 81 points back.
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 128 points, but investors now pay less per rupee of profit (P/E 28.5x to 10.0x), which took 113 points back.
- The share count barely moved.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-56.5% (2024-12 peak to 2026-03 low, not yet recovered)
-52.5% (2021-09 peak to 2023-03 low, recovered 2023-11)
-45.4% (2019-01 peak to 2020-03 low, recovered 2020-12)
Is it expensive against its own past and its peers?
Usual range 9.0x to 26.5x since 2019-01.
45% below the Finance median.
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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.
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
- ROCE48th▼ 16 pts vs a year ago
- Op. margin41st▼ 6 pts vs a year ago
- Revenue growth11th▼ 18 pts vs a year ago
- EPS growth25th▼ 61 pts vs a year ago
- Debt/equity ↓90thflat vs a year ago
- Cash cycle ↓72nd▲ 60 pts vs a year ago
- P/E ↓80th▼ 5 pts vs a year ago
- 12M momentum21st▼ 23 pts vs a year ago
Rank history
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?
At a P/E of 11.8x, the price would imply about 8.7%/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 Finance The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹35.49
- P/E
- 10.0x
- ROCE
- 8.0%
- Market Cap
- ₹145 cr
- Revenue (TTM)
- ₹53 cr
- P/S
- 2.8x
- P/B
- 0.7x
- ROE
- 6.8%
- Operating Margin
- 21.3%
- Debt / Equity
- 0.0x
- Promoter Holding
- 65.9%
- 12M Momentum
- -33.4%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance47%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 46.9%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate33%Within range
Median quarterly effective tax rate over about 2.5 years: 32.9%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion1.46xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.46x (cash from operations ₹70 cr, net profit ₹48 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-6 daysWithin range
Debtor days are below the median of the previous three fiscal years by 6 days (7 vs 13). 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.
Who has been buying and selling?
- Over 3 years, institutional and promoter holdings were broadly unchanged.
- The number of shareholders rose from 11,409 to 14,674 (+29%) between Sep 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like AMJ LAND HOLDINGS LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −8% to +33% vs the market, against −3% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +6.6%, 80% range +1.1% to +12.9%), but the matches cluster in only 5 distinct 12-month windows.
Where the 50 outcomes landed
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 · 5 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 34 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| GEECEE Finance |
Feb 2020 | 4x | 9% | −37% | −47% | +1% |
| UNITEDTEA Consumer Non-Durables |
Jan 2023 | 11x | 14% | −25% | −35% | −9% |
| SANDESH Consumer Services |
Jun 2025 | 11x | 8% | −25% | −41% | −15% |
| IVC Finance |
Aug 2025 | 17x | 7% | −37% | −38% | +14% |
| XCHANGING Technology Services |
Apr 2023 | 12x | 10% | −28% | −31% | +36% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| CUPID Consumer Non-Durables |
Aug 2022 | 10x | — | −2% | −36% | +52% |
| ALPHAGEO Industrial Services |
Nov 2023 | 13x | 0% | −3% | −13% | +3% |
| OSWALGREEN Finance |
Dec 2023 | 16x | 3% | −2% | −12% | +55% |
How reliable is this?
Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and volatility. Not used (unavailable for this company): interest cover. 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.
What changed?
30 events since Jun '21
- SepPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Finance on ROCE (from the 2nd quartile).
- MarPriceFell 56% from the Dec 2024 peak to the Mar 2026 low.
- MarPeer rankSlipped to the bottom quartile of Finance on operating margin (from the 3rd quartile).
- DecValuationP/E fell below the 10th percentile of its own history to date (10.2x).
- SepPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the top quartile).
- JunResultsRevenue (TTM) reached a new high of ₹78 cr.
Show 22 earlier events
- JunPeer rankMoved into the 2nd quartile of Finance on ROCE (from the 3rd quartile).
- MarPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
- DecPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
- NovPriceRegained the 2024-07 peak, 1 month after the low.
- OctPriceFell 28% from the Jul 2024 peak to the Oct 2024 low.
- SepPeer rankSlipped to the 2nd quartile of Finance on EPS growth (from the top quartile).
- JulPriceRegained the 2024-01 peak, 4 months after the low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the top quartile of Finance on EPS growth (from the 3rd quartile).
- MarPriceFell 27% from the Jan 2024 peak to the Mar 2024 low.
- NovPriceRegained the 2021-09 peak, 8 months after the low.
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Finance on ROCE (from the 2nd quartile).
- MarPriceFell 52% from the Sep 2021 peak to the Mar 2023 low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 2nd quartile of Finance on ROCE (from the 3rd quartile).
- JunDividendDividend payout cut from 19% to 9% of profit.
- SepPriceRegained the 2021-08 peak, 1 month after the low.
- AugPriceFell 28% from the Aug 2021 peak to the Aug 2021 low.
- JunResultsYear-on-year EPS growth turned negative.
- JunValuationP/E crossed above the 90th percentile of its own history to date (29.0x).
- JunPeer rankSlipped to the 3rd quartile of Finance on ROCE (from the 2nd quartile).
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 history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 10.0x | ₹53 cr | 6.8% | 8.0% | 0.0x |
| 2026-10 | 9.6x | ₹53 cr | 6.8% | 8.0% | 0.0x |
| 2026-09 | 10.6x | ₹53 cr | 6.8% | 8.0% | 0.0x |
| 2026-08 | 11.0x | ₹53 cr | 6.9% | 8.0% | 0.0x |
| 2026-07 | 10.9x | ₹53 cr | 6.9% | 8.0% | 0.0x |
| 2026-06 | 10.4x | ₹53 cr | 6.9% | 8.0% | 0.0x |
| 2026-05 | 7.6x | ₹63 cr | 8.8% | 14.0% | 0.0x |
| 2026-04 | 8.3x | ₹63 cr | 8.8% | 14.0% | 0.0x |
| 2026-03 | 6.5x | ₹63 cr | 8.8% | 14.0% | 0.0x |
| 2026-02 | 7.9x | ₹66 cr | 9.3% | 14.0% | 0.0x |
| 2026-01 | 8.2x | ₹66 cr | 9.3% | 14.0% | 0.0x |
| 2025-12 | 10.2x | ₹66 cr | 9.3% | 14.0% | 0.0x |
| 2025-11 | 10.9x | ₹66 cr | 8.8% | 14.0% | 0.0x |
| 2025-10 | 11.2x | ₹66 cr | 8.8% | 14.0% | 0.0x |
| 2025-09 | 11.1x | ₹66 cr | 8.8% | 14.0% | 0.0x |
| 2025-08 | 11.4x | ₹78 cr | 9.1% | 14.0% | 0.0x |
| 2025-07 | 12.1x | ₹78 cr | 9.1% | 14.0% | 0.0x |
| 2025-06 | 13.2x | ₹78 cr | 9.1% | 14.0% | 0.0x |
| 2025-05 | 15.9x | ₹60 cr | 8.2% | 8.0% | 0.1x |
| 2025-04 | 14.0x | ₹60 cr | 8.2% | 8.0% | 0.1x |
| 2025-03 | 12.7x | ₹60 cr | 8.2% | 8.0% | 0.1x |
| 2025-02 | 15.7x | ₹66 cr | 7.3% | 8.0% | 0.1x |
| 2025-01 | 17.9x | ₹66 cr | 7.3% | 8.0% | 0.1x |
| 2024-12 | 21.0x | ₹66 cr | 7.3% | 8.0% | 0.1x |
| 2024-11 | 21.2x | ₹72 cr | 7.1% | 8.0% | 0.1x |
| 2024-10 | 16.6x | ₹72 cr | 7.1% | 8.0% | 0.1x |
| 2024-09 | 16.4x | ₹72 cr | 7.1% | 8.0% | 0.1x |
| 2024-08 | 20.4x | ₹56 cr | 6.4% | 8.0% | 0.1x |
| 2024-07 | 21.0x | ₹56 cr | 6.4% | 8.0% | 0.1x |
| 2024-06 | 15.5x | ₹56 cr | 6.4% | 8.0% | 0.1x |
| 2024-05 | 23.6x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2024-04 | 22.7x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2024-03 | 20.4x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2024-02 | 22.8x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2024-01 | 25.8x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-12 | 24.5x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-11 | 23.2x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-10 | 18.4x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-09 | 19.1x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-08 | 18.2x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-07 | 18.3x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-06 | 15.2x | ₹35 cr | 4.6% | 7.0% | 0.0x |
| 2023-05 | 10.5x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2023-04 | 10.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2023-03 | 9.8x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2023-02 | 11.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2023-01 | 12.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-12 | 12.7x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-11 | 12.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-10 | 13.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-09 | 12.8x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-08 | 15.3x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-07 | 11.9x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-06 | 11.8x | ₹29 cr | 6.1% | 9.0% | 0.0x |
| 2022-05 | 25.6x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2022-04 | 26.4x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2022-03 | 28.6x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2022-02 | 27.1x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2022-01 | 30.3x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-12 | 30.7x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-11 | 28.5x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-10 | 30.7x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-09 | 35.0x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-08 | 26.5x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-07 | 33.5x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-06 | 29.0x | ₹11 cr | 3.9% | 5.0% | 0.1x |
| 2021-05 | 11.4x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2021-04 | 10.3x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2021-03 | 9.2x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2021-02 | 10.6x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2021-01 | 10.4x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-12 | 10.7x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-11 | 9.1x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-10 | 8.9x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-09 | 8.0x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-08 | 7.5x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-07 | 7.1x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-06 | 8.2x | ₹17 cr | 9.4% | 7.0% | 0.1x |
| 2020-05 | 14.0x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2020-04 | 14.3x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2020-03 | 13.6x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2020-02 | 18.2x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2020-01 | 20.7x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-12 | 18.1x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-11 | 18.0x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-10 | 17.4x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-09 | 16.6x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-08 | 15.6x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-07 | 15.7x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-06 | 15.6x | ₹21 cr | 4.3% | 6.0% | 0.0x |
| 2019-05 | 23.8x | ₹27 cr | 3.3% | 4.0% | 0.1x |
| 2019-04 | 24.4x | ₹27 cr | 3.3% | 4.0% | 0.1x |
| 2019-03 | 24.3x | ₹27 cr | 3.3% | 4.0% | 0.1x |
| 2019-02 | 24.3x | ₹27 cr | 3.3% | 4.0% | 0.1x |
| 2019-01 | 24.8x | ₹27 cr | 3.3% | 4.0% | 0.1x |