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THE ANDHRA SUGARS LIMITED (ANDHRSUGAR)

Process Industries · Chemicals: Specialty · figures to Nov '26

Divergence: business ahead of price (2 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.60 / 100
Profitability 45Growth 33Balance 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.56 / 100
Price 17Earnings 86FII/DII 63

Passes these screensCash RichValue PickBusiness ahead of price

Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹81.85 latest close · −2.2% over the last 90 sessions

₹80₹90₹100Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹80₹90₹100Jul 3Sep 4Nov 9

₹81.85 month-end · +6.2% over 12 months

₹70₹80₹90₹100Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹70₹80₹90₹100Nov '25May '26Nov '26

₹81.85 month-end · −26.1% over 3 years

₹80₹100₹120Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹80₹100₹120Nov '23May '25Nov '26

₹81.85 month-end · +32.8% since Jan '19

₹50₹100₹150Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹50₹100₹150Jan '19Dec '22Nov '26

52-week range ₹66.50 to ₹107.23 · 1-year volatility 39.9%

Was the rally earned?

+6%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 115 points, but investors now pay less per rupee of profit (P/E 30.2x to 10.5x), which took 109 points back.
  • The share count barely moved.
Net profit growth: +115 pts. Points of the price return explained by net profit growing (or shrinking).+115 ptsNet profit growthP/E change: −109 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−109 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: +6%+6%Share priceNet profit growth: +115 pts. Points of the price return explained by net profit growing (or shrinking).+115ProfitP/E change: −109 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−109P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +6%+6%Share price
Net profit growth+115 ptsNet profit rose about 205%, which lifts the price.
P/E change-109 ptsThe P/E fell from 30.2x to 10.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-26%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 49 points, while the multiple moved less (P/E 8.1x to 10.5x).
  • The share count barely moved.
Net profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48 ptsNet profit growthP/E change: +23 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+23 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: −26%−26%Share priceNet profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48ProfitP/E change: +23 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+23P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −26%−26%Share price
Net profit growth-48 ptsNet profit fell about 42%, which lowers the price.
P/E change+23 ptsThe P/E rose from 8.1x to 10.5x, which lifts the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-31%share price, 5 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 21 points, while the multiple moved less (P/E 11.9x to 10.5x).
  • The share count barely moved.
Net profit growth: −21 pts. Points of the price return explained by net profit growing (or shrinking).−21 ptsNet profit growthP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10 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: −21 pts. Points of the price return explained by net profit growing (or shrinking).−21ProfitP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10P/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-21 ptsNet profit fell about 22%, which lowers the price.
P/E change-10 ptsThe P/E fell from 11.9x to 10.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against 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 LINDE INDIA

How rough has the ride been?

Maximum drawdown-69.4%recovered 2021-05
1-year volatility39.9%annualised
Beta vs sector index1.183-year daily, correlation 0.56
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−61.1% 0%−20%−40%−60%2020202220242026−61.1%
Largest drawdowns

-69.4% (2019-05 peak to 2020-03 low, recovered 2021-05)

-61.8% (2022-04 peak to 2025-03 low, not yet recovered)

-24.2% (2022-02 peak to 2022-02 low, recovered 2022-04)

Most recent volume spikes

2026-08-20: 7.7x the 50-day median, price +3.2% that day

2026-08-10: 60.9x the 50-day median, price +13.6% that day

2026-07-06: 26.7x the 50-day median, price +5.5% 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?

10.5xP/E todayWithin its usual range
Against its own history58th percentile
CheapestMedian 8.1xDearest

Usual range 4.0x to 21.4x since 2019-01.

Against Process Industries10.5x vs 18.1x
This company
10.5x
Sector median
18.1x

42% below the Process Industries median.

2.5x16.2x29.9x43.6xJan '19Aug '20Mar '22Oct '23May '25Nov '262.5x16.2x29.9x43.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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

  • ROCE37th▲ 20 pts vs a year ago
  • Op. margin53rd▲ 9 pts vs a year ago
  • Revenue growth70th▲ 4 pts vs a year ago
  • EPS growth95th▲ 79 pts vs a year ago
  • Debt/equity ↓95thflat vs a year ago
  • Cash cycle ↓67th▲ 34 pts vs a year ago
  • P/E ↓76th▲ 39 pts vs a year ago
  • 12M momentum68th▲ 21 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~5%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 9.2x, a holder earning 12%/yr needs earnings to grow about 4.9%/yr for 10 years, then trade at 15x.

Delivered−11.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+16.1 ptsimplied minus delivered
Rank215thmost demanding of 856

Over time

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

-11%15%42% Jan 2019Nov 2026 -11%15%42% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x6.1%7.1%8.0%
15x4.0%4.9%5.9%
20x1.3%2.2%3.1%

Drag a slider to test other assumptions

Implied: 4.9%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown −11%/yr (7.0 yrs)
  • Jan 2021Price implied 0%/yr; EPS has since grown −14%/yr (6.0 yrs)
  • Jan 2022Price implied 9%/yr; EPS has since grown −9%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹81.85
P/E
10.5x
ROCE
8.0%
Market Cap
₹1109 cr
Revenue (TTM)
₹2492 cr
P/S
0.4x
P/B
0.7x
ROE
6.3%
Operating Margin
12.0%
Debt / Equity
0.0x
Promoter Holding
50.5%
12M Momentum
6.2%

52-week range

₹66.50₹107.23
38% of the way from its 52-week low to its high

Price risk

1Y volatility
39.9%
Beta vs sector
1-year daily
1.09

Balance sheet & cash

Interest cover
operating profit ÷ interest
50.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.88x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance7%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.88xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.88x (cash from operations ₹548 cr, net profit ₹190 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-2 daysWithin range

Debtor days are below the median of the previous three fiscal years by 2 days (34 vs 36). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress5% of fixed assetsWithin range

Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-5 days / 2 yrsWithin range

Days payable changed by -5 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 3 years, promoters added 3.4 pts; FIIs trimmed 0.5 pts.
  • The number of shareholders rose from 47,142 to 51,307 (+9%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters47.1%50.5%+3.4 pts
FIIs3.4%2.9%-0.5 pts
DIIs0.1%0.0%-0.1 pts
Public and others49.5%46.6%-2.9 pts

Number of shareholders

51,307shareholders+9% since Sep '23
47k50k53k56k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 47,142
Dec '23: 47,853
Mar '24: 48,799
Jun '24: 53,406
Sep '24: 55,550
Dec '24: 54,924
Mar '25: 54,289
Jun '25: 54,613
Sep '25: 55,455
Dec '25: 54,371
Mar '26: 52,819
Jun '26: 51,307
 47k50k53k56k Sep '23Sep '24Sep '25Jun '26
Sep '23: 47,142
Dec '23: 47,853
Mar '24: 48,799
Jun '24: 53,406
Sep '24: 55,550
Dec '24: 54,924
Mar '25: 54,289
Jun '25: 54,613
Sep '25: 55,455
Dec '25: 54,371
Mar '26: 52,819
Jun '26: 51,307

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

+3.7%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like THE ANDHRA SUGARS 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 −20% to +23% vs the market, against −8% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +11.7%, 80% range +2.9% to +14.2%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SPECTSTM · Apr 2025: −57.7% vs market
UDS · May 2025: −48.4% vs market
NIRAJ · Jun 2025: −45.8% vs market
TVTODAY · Aug 2024: −41.1% vs market
EKC · Dec 2024: −40.4% vs market
TRIGYN · Jan 2024: −36.9% vs market
PLASTIBLEN · Jul 2024: −36.8% vs market
CENTENKA · Dec 2024: −33.0% vs market
EXCELINDUS · Jun 2025: −27.7% vs market
SOTL · Nov 2024: −26.8% vs market
JOCIL · Jun 2023: −25.0% vs market
SESHAPAPER · May 2023: −20.6% vs market
IFBAGRO · Jul 2022: −20.5% vs market
PODDARMENT · Aug 2023: −18.3% vs market
RUBFILA · Aug 2025: −16.3% vs market
MUNJALSHOW · Aug 2023: −15.4% vs market
VARDHACRLC · Feb 2020: −15.0% vs market
IMPAL · Nov 2023: −10.7% vs market
INSECTICID · Sep 2024: −7.8% vs market
TNPETRO · Jul 2025: −7.6% vs market
ALBERTDAVD · Jun 2022: −4.8% vs market
HMVL · Aug 2025: −4.4% vs market
BHAGERIA · Jun 2025: +0.6% vs market
BANCOINDIA · Oct 2021: +1.1% vs market
GHCLTEXTIL · Jun 2025: +3.7% vs market
STYRENIX · Sep 2024: +3.7% vs market
MANAKSIA · Aug 2021: +3.8% vs market
VETO · Oct 2025: +4.0% vs market
GNFC · Aug 2025: +5.6% vs market
HINDCOMPOS · Mar 2024: +6.8% vs market
RAMCOIND · Dec 2024: +9.0% vs market
INDNIPPON · Dec 2024: +9.6% vs market
KRBL · Sep 2025: +10.2% vs market
CHEMBOND · Oct 2023: +11.5% vs market
SHREEPUSHK · Jan 2025: +13.2% vs market
GSFC · Jun 2021: +14.0% vs market
FMGOETZE · Mar 2025: +22.9% vs market
BALMLAWRIE · Sep 2023: +23.2% vs market
AVANTIFEED · Nov 2024: +32.5% vs market
CHEMFAB · Jul 2022: +44.0% vs market
EVERESTIND · Aug 2021: +49.5% vs market
PONNIERODE · Sep 2022: +50.0% vs market
KIRLOSIND · Feb 2020: +52.6% vs market
JMA · Apr 2021: +54.1% vs market
WINDLAS · Sep 2023: +61.5% vs market
DLINKINDIA · May 2022: +63.5% vs market
HONDAPOWER · Aug 2022: +64.1% vs market
IFGLEXPOR · Jan 2023: +127.4% vs market
NAHARPOLY · Mar 2020: +136.4% vs market
MANALIPETC · Jun 2020: +172.8% vs market
Similar setups +3.7%All companies −8.0%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median
+3.7%
All companies' median
−8.0%
Beat the market
56% vs 41%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MUNJALSHOW
Producer Manufacturing		 Aug 2023 17x5% +41%−6% −15%
GHCLTEXTIL
Process Industries		 Jun 2025 16x5% +5%−18% +4%
GSFC
Process Industries		 Jun 2021 10x6% +117%−5% +14%
TRIGYN
Technology Services		 Jan 2024 14x9% +70%−4% −37%
PLASTIBLEN
Process Industries		 Jul 2024 24x11% +47%−7% −37%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EXCELINDUS
Process Industries		 Jun 2025 19x7% +7%−24% −28%
RUBFILA
Process Industries		 Aug 2025 14x14% −10%−14% −16%
INDNIPPON
Producer Manufacturing		 Dec 2024 22x13% +32%−15% +10%
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: drawdown from 12-month high, P/E and 12-month momentum. 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 THE ANDHRA SUGARS LIMITED. 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.

IRM ENERGYIRMENERGY
Energy Minerals
62%similar
promoter holdingmarket cap
PRAKASH PIPESPPL
Producer Manufacturing
60%similar
P/EEPS growth
GREENPANEL INDUSTRIESGREENPANEL
Non-Energy Minerals
59%similar
EPS growthoperating margin
UPDATER SERVICESUDS
Commercial Services
51%similar
market caprevenue
TCI EXPRESSTCIEXP
Transportation
49%similar
EPS growthrevenue growth
SESHASAYEE PAPER & BOARDSSESHAPAPER
Process Industries
74%similar
debt/equitymarket cap
EXCELL INDUSTRIESEXCELINDUS
Process Industries
73%similar
market capdebt/equity
AMBIKA COTTON MILLSAMBIKCO
Process Industries
68%similar
promoter holdingP/E

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

What changed?

30 events since Dec '22

  1. SepPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  2. AugPriceVolume reached 60.9x its 50-day median on 2026-08-10; price +13.6% that day.
  3. JunResultsRevenue (TTM) reached a new high of ₹2,465 cr.
  4. JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
  5. JunDividendDividend payout cut from 42% to 20% of profit.
  6. AprPriceVolume reached 21.2x its 50-day median on 2026-04-10; price +7.8% that day.
  7. MarPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
  8. MarPriceVolume reached 7.4x its 50-day median on 2026-03-04; price -0.3% that day.
Show 22 earlier events
  1. DecPromoterPromoter holding rose 2.7 pts to 49.9% (largest rise in the history since 2019-01).
  2. DecResultsYear-on-year EPS growth turned positive.
  3. DecPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
  4. NovPriceVolume reached 42.6x its 50-day median on 2025-11-06; price +6.9% that day.
  5. AugPriceVolume reached 14.7x its 50-day median on 2025-08-11; price +4.4% that day.
  6. JunPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
  7. JunPriceVolume reached 10.1x its 50-day median on 2025-06-26; price +3.7% that day.
  8. MarPriceFell 62% from the Apr 2022 peak to the Mar 2025 low.
  9. MarValuationP/E crossed above the 90th percentile of its own history to date (19.9x).
  10. SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
  11. JulPriceVolume reached 15.3x its 50-day median on 2024-07-09; price +8.0% that day.
  12. JunValuationP/E crossed above the 90th percentile of its own history to date (21.1x).
  13. JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 2nd quartile).
  14. JunPriceVolume reached 63.3x its 50-day median on 2024-06-13; price +9.2% that day.
  15. FebPriceVolume reached 5.1x its 50-day median on 2024-02-21; price +4.1% that day.
  16. DecPriceVolume reached 7.2x its 50-day median on 2023-12-18; price +0.6% that day.
  17. SepPriceVolume reached 8.9x its 50-day median on 2023-09-06; price +2.8% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  20. JunPriceVolume reached 5.5x its 50-day median on 2023-06-22; price +0.7% that day.
  21. MarPriceVolume reached 9.9x its 50-day median on 2023-03-08; price +5.8% that day.
  22. DecPriceVolume reached 14.0x its 50-day median on 2022-12-19; price +3.1% 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
2026-1110.5x₹2492 cr6.3%8.0%0.0x
2026-1010.1x₹2492 cr6.3%8.0%0.0x
2026-0912.0x₹2492 cr6.3%8.0%0.0x
2026-0816.2x₹2465 cr5.0%8.0%0.0x
2026-0713.4x₹2465 cr5.0%8.0%0.0x
2026-0612.8x₹2465 cr5.0%8.0%0.0x
2026-0514.4x₹2328 cr5.3%4.0%0.0x
2026-0415.7x₹2328 cr5.3%4.0%0.0x
2026-0311.5x₹2328 cr5.3%4.0%0.0x
2026-0215.9x₹2208 cr3.9%4.0%0.0x
2026-0115.1x₹2208 cr3.9%4.0%0.0x
2025-1216.3x₹2208 cr3.9%4.0%0.0x
2025-1130.2x₹2139 cr2.2%4.0%0.0x
2025-1031.9x₹2139 cr2.2%4.0%0.0x
2025-0929.3x₹2139 cr2.2%4.0%0.0x
2025-0839.5x₹2019 cr1.6%4.0%0.0x
2025-0740.7x₹2019 cr1.6%4.0%0.0x
2025-0643.6x₹2019 cr1.6%4.0%0.0x
2025-0522.2x₹1952 cr2.8%5.0%0.0x
2025-0420.8x₹1952 cr2.8%5.0%0.0x
2025-0319.9x₹1952 cr2.8%5.0%0.0x
2025-0217.7x₹1892 cr3.4%5.0%0.0x
2025-0121.4x₹1892 cr3.4%5.0%0.0x
2024-1223.8x₹1892 cr3.4%5.0%0.0x
2024-1119.7x₹1882 cr4.3%5.0%0.0x
2024-1020.6x₹1882 cr4.3%5.0%0.0x
2024-0922.2x₹1882 cr4.3%5.0%0.0x
2024-0820.8x₹1894 cr4.7%5.0%0.0x
2024-0721.4x₹1894 cr4.7%5.0%0.0x
2024-0621.1x₹1894 cr4.7%5.0%0.0x
2024-057.3x₹2368 cr11.9%16.0%0.0x
2024-047.8x₹2368 cr11.9%16.0%0.0x
2024-036.8x₹2368 cr11.9%16.0%0.0x
2024-028.0x₹2368 cr11.9%16.0%0.0x
2024-018.1x₹2368 cr11.9%16.0%0.0x
2023-128.1x₹2368 cr11.9%16.0%0.0x
2023-118.1x₹2368 cr11.9%16.0%0.0x
2023-107.7x₹2368 cr11.9%16.0%0.0x
2023-098.6x₹2368 cr11.9%16.0%0.0x
2023-088.3x₹2368 cr11.9%16.0%0.0x
2023-077.9x₹2368 cr11.9%16.0%0.0x
2023-068.2x₹2368 cr11.9%16.0%0.0x
2023-056.3x₹1962 cr15.5%19.0%0.0x
2023-046.5x₹1962 cr15.5%19.0%0.0x
2023-036.1x₹1962 cr15.5%19.0%0.0x
2023-026.6x₹1962 cr15.5%19.0%0.0x
2023-017.3x₹1962 cr15.5%19.0%0.0x
2022-127.5x₹1962 cr15.5%19.0%0.0x
2022-117.2x₹1962 cr15.5%19.0%0.0x
2022-107.9x₹1962 cr15.5%19.0%0.0x
2022-097.8x₹1962 cr15.5%19.0%0.0x
2022-088.2x₹1962 cr15.5%19.0%0.0x
2022-077.6x₹1962 cr15.5%19.0%0.0x
2022-066.9x₹1962 cr15.5%19.0%0.0x
2022-0513.7x₹1509 cr10.4%13.0%0.1x
2022-0416.3x₹1509 cr10.4%13.0%0.1x
2022-0315.4x₹1509 cr10.4%13.0%0.1x
2022-0214.5x₹1509 cr10.4%13.0%0.1x
2022-0115.3x₹1509 cr10.4%13.0%0.1x
2021-1213.6x₹1509 cr10.4%13.0%0.1x

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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