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ANTELOPUS SELAN ENERGY LIMITED (ANTELOPUS)

Energy Minerals

Balance sheet #18
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.90 / 100
Profitability 80Growth 89Balance 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.54 / 100
Price 93Earnings 58FII/DII 12
Compare withASIAN ENERGY SERVICES LTDAAKASH EXPLORATION SERV LTD

Passes these screens: High Momentum · Debt-light & profitable · Institutions in, retail out · Consistent compounders

Share Price
₹997.50
P/E
26.4x
ROCE
20.0%
Market Cap
₹3523 cr
Revenue (TTM)
₹359 cr
P/S
9.8x
P/B
5.4x
ROE
20.4%
Operating Margin
70.0%
Debt / Equity
0.0x
Promoter Holding
69.9%
12M Momentum
74.3%
P/E vs its own history61st percentilesince Jan '19
P/E vs Energy Minerals1.9xthe sector median

52-week range

₹357.00₹1290.90
69% of the way from its 52-week low to its high

Price risk

1Y volatility
71.5%
Beta vs sector
1-year daily
0.54

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.59x
Share count, 1Y
+133.3%

Was the rally earned?

+74%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 13.6x to 26.4x); per-share earnings took off 14 points.
  • The share count rose 132%.
1 year Net profit growth: +98 pts. Points of the price return explained by net profit growing (or shrinking).+98 ptsP/E change: +89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+89 ptsShare count change: -113 pts. Points of the price return explained by the share count changing. More shares count against the price.-113 pts +74% 1 year Net profit growth: +98 pts. Points of the price return explained by net profit growing (or shrinking).+98 ptsP/E change: +89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+89 ptsShare count change: -113 pts. Points of the price return explained by the share count changing. More shares count against the price.-113 pts +74%
Net profit growth+98 ptsNet profit rose about 108%, which lifts the price.
P/E change+89 ptsThe P/E rose from 13.6x to 26.4x, which lifts the price.
Share count change-113 ptsShare count rose 132%, which lowers the price.
+125%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 96 points to the rise, while the multiple moved less (P/E 21.8x to 26.4x).
  • The share count rose 131%.
3 years Net profit growth: +225 pts. Points of the price return explained by net profit growing (or shrinking).+225 ptsP/E change: +29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -129 pts. Points of the price return explained by the share count changing. More shares count against the price.-129 pts +125% 3 years Net profit growth: +225 pts. Points of the price return explained by net profit growing (or shrinking).+225 ptsP/E change: +29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -129 pts. Points of the price return explained by the share count changing. More shares count against the price.-129 pts +125%
Net profit growth+225 ptsNet profit rose about 330%, which lifts the price.
P/E change+29 ptsThe P/E rose from 21.8x to 26.4x, which lifts the price.
Share count change-129 ptsShare count rose 131%, which lowers the price.
+590%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 677 points, but investors now pay less per rupee of profit (P/E 35.2x to 26.4x), which took 87 points back.
  • The share count rose 142%.
5 years Net profit growth: +947 pts. Points of the price return explained by net profit growing (or shrinking).+947 ptsP/E change: -87 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -270 pts. Points of the price return explained by the share count changing. More shares count against the price.-270 pts +590% 5 years Net profit growth: +947 pts. Points of the price return explained by net profit growing (or shrinking).+947 ptsP/E change: -87 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -270 pts. Points of the price return explained by the share count changing. More shares count against the price.-270 pts +590%
Net profit growth+947 ptsNet profit rose about 2122%, which lifts the price.
P/E change-87 ptsThe P/E fell from 35.2x to 26.4x, which lowers the price.
Share count change-270 ptsShare count rose 142%, 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 ASIAN ENERGY SERVICES

Is it expensive against its own past and its peers?

26.4xP/E todayWithin its usual range
Against its own history61st percentileMedian 20.1x; usual range 4.9x to 41.0x since 2019-01.
Against Energy Minerals26.4x vs 13.9xAbove the Energy Minerals median.
2.1x18.4x34.8x51.1xJan '19Aug '20Mar '22Oct '23May '25Oct '262.1x18.4x34.8x51.1xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Energy Minerals is valued

What is the price implying?

~31%annual earnings growth implied by the price

At a P/E of 74.2x, the price would imply about 31.4%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Energy Minerals The market-wide Expectations lists

What changed?

  1. Oct '26Volume reached 13.6x its 50-day median on 2026-10-23; price +13.0% that day.
  2. Sep '26Regained the 2024-08 peak, 8 months after the low.
  3. Sep '26Volume reached 171.7x its 50-day median on 2026-09-03; price +6.5% that day.
  4. Jun '26Revenue (TTM) reached a new high of ₹279 cr.
  5. Jun '26Share count is up 133.3% over 12 months.
  6. Mar '26FII + DII holding fell 3.7 pts over 2 quarters to 0.2%.
  7. Mar '26Slipped to the bottom quartile of Energy Minerals on EPS growth (from the 3rd quartile).
  8. Jan '26Fell 65% from the Aug 2024 peak to the Jan 2026 low.
Show 22 earlier events
  1. Jan '26Volume reached 254.3x its 50-day median on 2026-01-16; price +12.0% that day.
  2. Dec '25Promoter holding rose 39.5 pts to 69.9%.
  3. Dec '25Year-on-year EPS growth turned negative.
  4. Dec '25Slipped to the 3rd quartile of Energy Minerals on EPS growth (from the top quartile).
  5. Nov '25Volume reached 36.9x its 50-day median on 2025-11-24; price -13.9% that day.
  6. Jul '25Moved into the 2nd quartile of Energy Minerals on ROCE (from the bottom quartile).
  7. Jun '25Volume reached 12.8x its 50-day median on 2025-06-13; price +2.8% that day.
  8. Jan '25Volume reached 9.8x its 50-day median on 2025-01-30; price +9.7% that day.
  9. Sep '24Moved into the top quartile of Energy Minerals on EPS growth (from the 3rd quartile).
  10. Aug '24P/E crossed above the 90th percentile of its own history to date (45.5x).
  11. Aug '24Volume reached 37.3x its 50-day median on 2024-08-02; price +6.6% that day.
  12. Jun '24Revenue (TTM) reached a new high of ₹166 cr.
  13. Jun '24Regained the 2024-05 peak, 0 months after the low.
  14. Jun '24Fell 26% from the May 2024 peak to the Jun 2024 low.
  15. Jun '24Slipped to the bottom quartile of Energy Minerals on ROCE (from the 3rd quartile).
  16. Apr '24Volume reached 35.7x its 50-day median on 2024-04-16; price +6.4% that day.
  17. Jan '24Volume reached 8.4x its 50-day median on 2024-01-15; price +4.9% that day.
  18. Oct '23Volume reached 10.1x its 50-day median on 2023-10-17; price -5.0% that day.
  19. Sep '23Volume reached 50.5x its 50-day median on 2023-09-26; price +2.7% that day.
  20. Jul '23Regained the 2022-10 peak, 7 months after the low.
  21. Jun '23Revenue (TTM) reached a new high of ₹118 cr.
  22. Jun '23Moved into the 3rd quartile of Energy Minerals on ROCE (from the bottom 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

Are profits backed by cash?

4 of 6 checks are within range, 2 near a threshold.
Tap a check to see how it is measured.

Other income reliance-2%Within range

Other income as a share of pre-tax profit (trailing twelve months): -1.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.59xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.59x (cash from operations ₹308 cr, net profit ₹194 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+30 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 30 days (88 vs 58). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress50% of fixed assetsWithin range

Capital work-in-progress is 50% 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.

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, promoters added 39.5 pts; FIIs trimmed 3.3 pts; DIIs added 0.8 pts.
  • The number of shareholders rose from 18,703 to 24,275 (+30%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters30.5%69.9%+39.5 pts
FIIs3.7%0.4%-3.3 pts
DIIs0.0%0.8%+0.8 pts
Public and others65.8%28.9%-36.9 pts

Number of shareholders

24,275shareholders+30% since Dec '23
18k20k23k26k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 18,703
Mar '24: 17,570
Jun '24: 19,970
Sep '24: 24,105
Dec '24: 25,121
Mar '25: 24,713
Jun '25: 26,109
Sep '25: 25,455
Dec '25: 25,616
Mar '26: 26,349
Jun '26: 24,275
 18k20k23k26k Dec '23Dec '24Dec '25Jun '26
Dec '23: 18,703
Mar '24: 17,570
Jun '24: 19,970
Sep '24: 24,105
Dec '24: 25,121
Mar '25: 24,713
Jun '25: 26,109
Sep '25: 25,455
Dec '25: 25,616
Mar '26: 26,349
Jun '26: 24,275

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

How rough has the ride been?

Maximum drawdown-68.7%recovered 2022-04
1-year volatility71.5%annualised
Beta vs sector index0.733-year daily, correlation 0.23
Volume spikes17last 90 sessions, 5x the 50-day median

Monthly share price

₹67₹420₹773₹1,126 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹174.55
2019-02: ₹171.10
2019-03: ₹181.75
2019-04: ₹182.85
2019-05: ₹176.60
2019-06: ₹174.95
2019-07: ₹150.80
2019-08: ₹135.35
2019-09: ₹143.15
2019-10: ₹141.65
2019-11: ₹138.65
2019-12: ₹159.50
2020-01: ₹142.75
2020-02: ₹112.95
2020-03: ₹67.05
2020-04: ₹84.60
2020-05: ₹87.05
2020-06: ₹101.30
2020-07: ₹102.80
2020-08: ₹110.90
2020-09: ₹105.45
2020-10: ₹101.15
2020-11: ₹123.50
2020-12: ₹124.65
2021-01: ₹126.95
2021-02: ₹132.75
2021-03: ₹134.30
2021-04: ₹131.15
2021-05: ₹142.35
2021-06: ₹157.55
2021-07: ₹143.80
2021-08: ₹139.10
2021-09: ₹152.00
2021-10: ₹144.60
2021-11: ₹123.90
2021-12: ₹130.20
2022-01: ₹149.90
2022-02: ₹150.45
2022-03: ₹189.80
2022-04: ₹210.00
2022-05: ₹196.55
2022-06: ₹181.00
2022-07: ₹179.85
2022-08: ₹251.10
2022-09: ₹283.20
2022-10: ₹288.30
2022-11: ₹287.05
2022-12: ₹241.65
2023-01: ₹284.70
2023-02: ₹268.70
2023-03: ₹243.40
2023-04: ₹266.80
2023-05: ₹268.05
2023-06: ₹309.75
2023-07: ₹371.10
2023-08: ₹356.65
2023-09: ₹410.35
2023-10: ₹443.30
2023-11: ₹489.85
2023-12: ₹492.75
2024-01: ₹522.55
2024-02: ₹492.30
2024-03: ₹450.25
2024-04: ₹634.45
2024-05: ₹572.45
2024-06: ₹731.75
2024-07: ₹764.20
2024-08: ₹979.30
2024-09: ₹845.60
2024-10: ₹897.40
2024-11: ₹882.60
2024-12: ₹819.90
2025-01: ₹687.15
2025-02: ₹506.55
2025-03: ₹561.00
2025-04: ₹527.75
2025-05: ₹549.25
2025-06: ₹694.85
2025-07: ₹598.35
2025-08: ₹526.20
2025-09: ₹551.75
2025-10: ₹572.25
2025-11: ₹394.65
2025-12: ₹411.15
2026-01: ₹550.75
2026-02: ₹514.65
2026-03: ₹569.70
2026-04: ₹693.75
2026-05: ₹774.85
2026-06: ₹794.30
2026-07: ₹821.50
2026-08: ₹784.30
2026-09: ₹1125.90
2026-10: ₹997.50
 ₹67₹420₹773₹1,126 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹174.55
2019-02: ₹171.10
2019-03: ₹181.75
2019-04: ₹182.85
2019-05: ₹176.60
2019-06: ₹174.95
2019-07: ₹150.80
2019-08: ₹135.35
2019-09: ₹143.15
2019-10: ₹141.65
2019-11: ₹138.65
2019-12: ₹159.50
2020-01: ₹142.75
2020-02: ₹112.95
2020-03: ₹67.05
2020-04: ₹84.60
2020-05: ₹87.05
2020-06: ₹101.30
2020-07: ₹102.80
2020-08: ₹110.90
2020-09: ₹105.45
2020-10: ₹101.15
2020-11: ₹123.50
2020-12: ₹124.65
2021-01: ₹126.95
2021-02: ₹132.75
2021-03: ₹134.30
2021-04: ₹131.15
2021-05: ₹142.35
2021-06: ₹157.55
2021-07: ₹143.80
2021-08: ₹139.10
2021-09: ₹152.00
2021-10: ₹144.60
2021-11: ₹123.90
2021-12: ₹130.20
2022-01: ₹149.90
2022-02: ₹150.45
2022-03: ₹189.80
2022-04: ₹210.00
2022-05: ₹196.55
2022-06: ₹181.00
2022-07: ₹179.85
2022-08: ₹251.10
2022-09: ₹283.20
2022-10: ₹288.30
2022-11: ₹287.05
2022-12: ₹241.65
2023-01: ₹284.70
2023-02: ₹268.70
2023-03: ₹243.40
2023-04: ₹266.80
2023-05: ₹268.05
2023-06: ₹309.75
2023-07: ₹371.10
2023-08: ₹356.65
2023-09: ₹410.35
2023-10: ₹443.30
2023-11: ₹489.85
2023-12: ₹492.75
2024-01: ₹522.55
2024-02: ₹492.30
2024-03: ₹450.25
2024-04: ₹634.45
2024-05: ₹572.45
2024-06: ₹731.75
2024-07: ₹764.20
2024-08: ₹979.30
2024-09: ₹845.60
2024-10: ₹897.40
2024-11: ₹882.60
2024-12: ₹819.90
2025-01: ₹687.15
2025-02: ₹506.55
2025-03: ₹561.00
2025-04: ₹527.75
2025-05: ₹549.25
2025-06: ₹694.85
2025-07: ₹598.35
2025-08: ₹526.20
2025-09: ₹551.75
2025-10: ₹572.25
2025-11: ₹394.65
2025-12: ₹411.15
2026-01: ₹550.75
2026-02: ₹514.65
2026-03: ₹569.70
2026-04: ₹693.75
2026-05: ₹774.85
2026-06: ₹794.30
2026-07: ₹821.50
2026-08: ₹784.30
2026-09: ₹1125.90
2026-10: ₹997.50

Last 90 trading days

₹781₹941₹1,102₹1,262 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹799.90
2026-06-25: ₹808.10
2026-06-30: ₹794.30
2026-07-02: ₹808.65
2026-07-06: ₹815.65
2026-07-08: ₹823.50
2026-07-10: ₹817.30
2026-07-14: ₹860.55
2026-07-16: ₹820.75
2026-07-20: ₹861.80
2026-07-22: ₹881.20
2026-07-24: ₹894.45
2026-07-28: ₹831.80
2026-07-30: ₹797.60
2026-08-03: ₹834.55
2026-08-05: ₹873.65
2026-08-07: ₹799.45
2026-08-11: ₹812.70
2026-08-13: ₹804.80
2026-08-17: ₹800.90
2026-08-19: ₹798.35
2026-08-21: ₹800.10
2026-08-25: ₹786.60
2026-08-27: ₹781.20
2026-08-31: ₹784.30
2026-09-02: ₹951.15
2026-09-04: ₹957.15
2026-09-08: ₹1099.15
2026-09-10: ₹1124.10
2026-09-15: ₹1057.80
2026-09-17: ₹1130.85
2026-09-21: ₹1100.80
2026-09-23: ₹1161.20
2026-09-25: ₹1261.70
2026-09-29: ₹1162.50
2026-10-01: ₹1106.50
2026-10-06: ₹1100.60
2026-10-08: ₹1105.80
2026-10-12: ₹1108.90
2026-10-14: ₹1109.40
2026-10-16: ₹1003.10
2026-10-21: ₹996.90
2026-10-23: ₹1136.40
2026-10-27: ₹1091.20
2026-10-29: ₹1027.60
2026-10-30: ₹997.50
 ₹781₹941₹1,102₹1,262 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹799.90
2026-06-25: ₹808.10
2026-06-30: ₹794.30
2026-07-02: ₹808.65
2026-07-06: ₹815.65
2026-07-08: ₹823.50
2026-07-10: ₹817.30
2026-07-14: ₹860.55
2026-07-16: ₹820.75
2026-07-20: ₹861.80
2026-07-22: ₹881.20
2026-07-24: ₹894.45
2026-07-28: ₹831.80
2026-07-30: ₹797.60
2026-08-03: ₹834.55
2026-08-05: ₹873.65
2026-08-07: ₹799.45
2026-08-11: ₹812.70
2026-08-13: ₹804.80
2026-08-17: ₹800.90
2026-08-19: ₹798.35
2026-08-21: ₹800.10
2026-08-25: ₹786.60
2026-08-27: ₹781.20
2026-08-31: ₹784.30
2026-09-02: ₹951.15
2026-09-04: ₹957.15
2026-09-08: ₹1099.15
2026-09-10: ₹1124.10
2026-09-15: ₹1057.80
2026-09-17: ₹1130.85
2026-09-21: ₹1100.80
2026-09-23: ₹1161.20
2026-09-25: ₹1261.70
2026-09-29: ₹1162.50
2026-10-01: ₹1106.50
2026-10-06: ₹1100.60
2026-10-08: ₹1105.80
2026-10-12: ₹1108.90
2026-10-14: ₹1109.40
2026-10-16: ₹1003.10
2026-10-21: ₹996.90
2026-10-23: ₹1136.40
2026-10-27: ₹1091.20
2026-10-29: ₹1027.60
2026-10-30: ₹997.50

Drawdown from peak

0% -34% -68% Jan '19Dec '22Oct '26 0% -34% -68% Jan '19Dec '22Oct '26
Largest drawdowns

-68.7% (2019-01 peak to 2020-03 low, recovered 2022-04)

-64.9% (2024-08 peak to 2026-01 low, recovered 2026-09)

-33.2% (2022-10 peak to 2022-12 low, recovered 2023-07)

Most recent volume spikes

2026-10-23: 13.6x the 50-day median, price +13.0% that day

2026-09-29: 7.3x the 50-day median, price +0.3% that day

2026-09-28: 8x the 50-day median, price -8.1% 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).

Where does it rank among Energy Minerals peers?

Each cell is the company's percentile rank among its 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Energy Minerals sector page Watch it move against Energy Minerals in the Observatory

What else looks like this?

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

CompanySectorSimilarityClosest on
CARE RATINGS (CARERATING)Commercial Services71%P/E, revenue
SUPRIYA LIFESCIENCE (SUPRIYA)Health Technology66%debt/equity, promoter holding
DEEP INDUSTRIES (DEEPINDS)Industrial Services64%revenue growth, market cap
EMUDHRA (EMUDHRA)Technology Services59%revenue growth, P/E
NESCO (NESCO)Producer Manufacturing59%ROCE, operating margin
SOUTH WEST PINNACLE EXPL (SOUTHWEST)Energy Minerals33%ROCE, revenue
REFEX INDUSTRIES (REFEX)Energy Minerals13%market cap, EPS growth
GULF OIL LUBRICANTS INDIA (GULFOILLUB)Energy Minerals0%promoter holding, market cap

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

What happened next to similar setups

+8.2%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like ANTELOPUS SELAN ENERGY 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 −29% to +31% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +11.4%, 80% range +0.5% to +15.8%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
APTECHT · May 2023: −61.4% vs market
SANGHVIMOV · Apr 2024: −60.7% vs market
NUCLEUS · Jan 2024: −46.4% vs market
DOLATALGO · Aug 2024: −46.3% vs market
NAHARPOLY · Apr 2022: −45.2% vs market
INTELLECT · Dec 2021: −42.0% vs market
GOLDIAM · Oct 2021: −38.2% vs market
OAL · Apr 2021: −37.3% vs market
VILAS · Aug 2025: −35.9% vs market
SAKSOFT · Jul 2023: −34.8% vs market
BALUFORGE · Jun 2025: −34.5% vs market
JUSTDIAL · Mar 2021: −33.2% vs market
KFINTECH · Apr 2025: −29.9% vs market
MARKSANS · Dec 2020: −26.5% vs market
ADVENZYMES · Feb 2021: −25.4% vs market
ARROWGREEN · Aug 2024: −23.0% vs market
ACE · May 2024: −17.1% vs market
WONDERLA · Jul 2023: −8.7% vs market
INFOBEAN · Feb 2020: −4.5% vs market
ELECON · Oct 2023: −2.3% vs market
CYBERTECH · Dec 2020: −0.6% vs market
SUPRIYA · Apr 2025: +1.0% vs market
CARERATING · Aug 2025: +2.8% vs market
INNOVANA · Jun 2023: +3.6% vs market
VIDHIING · Aug 2021: +7.3% vs market
INDOTECH · May 2024: +9.2% vs market
AVTNPL · Sep 2020: +10.5% vs market
ZTECH · Jun 2025: +11.2% vs market
GRSE · Mar 2023: +13.1% vs market
KABRAEXTRU · Jan 2022: +13.3% vs market
SHANTIGEAR · Jan 2023: +13.6% vs market
JAGSNPHARM · May 2022: +14.2% vs market
THEJO · Mar 2022: +16.2% vs market
NEWGEN · Jun 2024: +18.0% vs market
RSYSTEMS · Oct 2020: +22.4% vs market
DENORA · Mar 2023: +28.5% vs market
VIMTALABS · Jun 2025: +30.5% vs market
ALLETEC · Feb 2024: +30.7% vs market
KRISHNADEF · Sep 2025: +31.8% vs market
BLS · Apr 2023: +32.2% vs market
MAZDOCK · Oct 2023: +48.9% vs market
COFORGE · Nov 2020: +60.6% vs market
BSOFT · Dec 2020: +63.5% vs market
DATAPATTNS · Sep 2025: +67.5% vs market
BSE · Sep 2024: +80.0% vs market
NEULANDLAB · Mar 2024: +84.2% vs market
AURIONPRO · Jul 2023: +96.9% vs market
FCL · Sep 2021: +177.7% vs market
AIMTRON · Sep 2025: +181.0% vs market
ACUTAAS · Jun 2025: +207.8% vs market
Similar setups +8.2%All companies −3.2%← 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
+8.2%
All companies' median
−3.2%
Beat the market
58% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUPRIYA
Health Technology		 Apr 2025 30x22% +63%−20% +1%
AIMTRON
Electronic Technology		 Sep 2025 55x29% +49%−15% +181%
CYBERTECH
Technology Services		 Dec 2020 30x18% +261%−4% −1%
NUCLEUS
Technology Services		 Jan 2024 34x27% +295%−8% −46%
GRSE
Producer Manufacturing		 Mar 2023 28x20% +101%−16% +13%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
FCL
Process Industries		 Sep 2021 33x28% +298%−8% +178%
GOLDIAM
Consumer Durables		 Oct 2021 36x18% +542%−11% −38%
SAKSOFT
Technology Services		 Jul 2023 40x28% +221%−7% −35%
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 ROCE. 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 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 ANTELOPUS SELAN ENERGY 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (94 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1026.4x₹359 cr20.4%20.0%0.0x
2026-0929.8x₹359 cr20.2%20.0%0.0x
2026-0826.4x₹279 cr13.6%20.0%0.0x
2026-0727.7x₹279 cr13.6%20.0%0.0x
2026-0626.8x₹279 cr13.6%20.0%0.0x
2026-0527.1x₹239 cr12.2%20.0%0.0x
2026-0424.3x₹239 cr12.2%20.0%0.0x
2026-0319.9x₹239 cr12.2%20.0%0.0x
2026-0216.0x₹232 cr10.3%20.0%0.0x
2026-0117.1x₹232 cr10.3%20.0%0.0x
2025-1212.8x₹232 cr10.3%20.0%0.0x
2025-119.4x₹246 cr11.8%20.0%0.0x
2025-1013.6x₹246 cr11.8%20.0%0.0x
2025-0913.1x₹246 cr11.8%20.0%0.0x
2025-0811.3x₹258 cr13.1%20.0%0.0x
2025-0712.9x₹258 cr13.1%20.0%0.0x
2025-0615.0x₹258 cr13.1%20.0%0.0x
2025-0512.3x₹251 cr17.3%12.0%0.0x
2025-0411.8x₹251 cr17.3%12.0%0.0x
2025-0312.5x₹251 cr17.3%12.0%0.0x
2025-0213.7x₹231 cr14.2%12.0%0.0x
2025-0118.6x₹231 cr14.2%12.0%0.0x
2024-1222.2x₹231 cr14.2%12.0%0.0x
2024-1129.5x₹201 cr11.4%12.0%0.0x
2024-1030.0x₹201 cr11.4%12.0%0.0x
2024-0928.2x₹201 cr11.4%12.0%0.0x
2024-0845.5x₹166 cr8.4%12.0%0.0x
2024-0735.5x₹166 cr8.4%12.0%0.0x
2024-0634.0x₹166 cr8.4%12.0%0.0x
2024-0528.2x₹118 cr8.6%12.0%0.0x
2024-0431.3x₹118 cr8.6%12.0%0.0x
2024-0322.2x₹118 cr8.6%12.0%0.0x
2024-0224.3x₹118 cr8.6%12.0%0.0x
2024-0125.7x₹118 cr8.6%12.0%0.0x
2023-1224.3x₹118 cr8.6%12.0%0.0x
2023-1124.1x₹118 cr8.6%12.0%0.0x
2023-1021.8x₹118 cr8.6%12.0%0.0x
2023-0920.2x₹118 cr8.6%12.0%0.0x
2023-0817.6x₹118 cr8.6%12.0%0.0x
2023-0718.3x₹118 cr8.6%12.0%0.0x
2023-0615.3x₹118 cr8.6%12.0%0.0x
2023-0541.0x₹77 cr3.0%4.0%0.0x
2023-0440.9x₹77 cr3.0%4.0%0.0x
2023-0337.3x₹77 cr3.0%4.0%0.0x
2023-0241.1x₹77 cr3.0%4.0%0.0x
2023-0143.6x₹77 cr3.0%4.0%0.0x
2022-1237.0x₹77 cr3.0%4.0%0.0x
2022-1144.0x₹77 cr3.0%4.0%0.0x
2022-1044.2x₹77 cr3.0%4.0%0.0x
2022-0943.4x₹77 cr3.0%4.0%0.0x
2022-0838.5x₹77 cr3.0%4.0%0.0x
2022-0727.5x₹77 cr3.0%4.0%0.0x
2022-0627.7x₹77 cr3.0%4.0%0.0x
2022-0547.8x₹49 cr1.8%-2.0%0.0x
2022-0451.1x₹49 cr1.8%-2.0%0.0x
2022-0346.2x₹49 cr1.8%-2.0%0.0x
2022-0236.6x₹49 cr1.8%-2.0%0.0x
2022-0136.5x₹49 cr1.8%-2.0%0.0x
2021-1231.7x₹49 cr1.8%-2.0%0.0x
2021-1130.1x₹49 cr1.8%-2.0%0.0x
2021-1035.2x₹49 cr1.8%-2.0%0.0x
2021-0937.0x₹49 cr1.8%-2.0%0.0x
2021-0833.8x₹49 cr1.8%-2.0%0.0x
2021-0735.0x₹49 cr1.8%-2.0%0.0x
2021-0638.3x₹49 cr1.8%-2.0%0.0x
2021-059.6x₹90 cr6.7%10.0%0.0x
2021-048.9x₹90 cr6.7%10.0%0.0x
2021-039.1x₹90 cr6.7%10.0%0.0x
2021-029.0x₹90 cr6.7%10.0%0.0x
2021-018.6x₹90 cr6.7%10.0%0.0x
2020-128.4x₹90 cr6.7%10.0%0.0x
2020-118.4x₹90 cr6.7%10.0%0.0x
2020-106.9x₹90 cr6.7%10.0%0.0x
2020-097.1x₹90 cr6.7%10.0%0.0x
2020-087.5x₹90 cr6.7%10.0%0.0x
2020-077.0x₹90 cr6.7%10.0%0.0x
2020-066.9x₹90 cr6.7%10.0%0.0x
2020-052.8x₹93 cr16.0%15.0%0.0x
2020-042.7x₹93 cr16.0%15.0%0.0x
2020-032.1x₹93 cr16.0%15.0%0.0x
2020-023.6x₹93 cr16.0%15.0%0.0x
2020-014.5x₹93 cr16.0%15.0%0.0x
2019-125.1x₹93 cr16.0%15.0%0.0x
2019-114.4x₹93 cr16.0%15.0%0.0x
2019-104.5x₹93 cr16.0%15.0%0.0x
2019-094.6x₹93 cr16.0%15.0%0.0x
2019-084.3x₹93 cr16.0%15.0%0.0x
2019-074.8x₹93 cr16.0%15.0%0.0x
2019-065.6x₹93 cr16.0%15.0%0.0x
2019-0513.1x₹77 cr7.5%11.0%0.0x
2019-0413.6x₹77 cr7.5%11.0%0.0x
2019-0313.5x₹77 cr7.5%11.0%0.0x
2019-0212.7x₹77 cr7.5%11.0%0.0x
2019-0113.0x₹77 cr7.5%11.0%0.0x

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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