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APOLLO HOSPITALS ENTERPRISES L (APOLLOHOSP)

Health Services · Hospital/Nursing Management · 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.42 / 100
Profitability 39Growth 70Balance sheet 17
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.61 / 100
Price 55Earnings 61FII/DII 68

Passes these screensConsistent compounders

Compare withMAX HEALTHCARE INSTITUTEASTER DM QUALITY CAREFORTIS HEALTHCARE

Share price

Closing priceAdjusted for splits and bonus issues.

₹8,549.5 latest close · −3.9% over the last 90 sessions

₹7,500₹8,000₹8,500₹9,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹7,500₹8,000₹8,500₹9,000Jul 3Sep 4Nov 9

₹8,549.5 month-end · +16.5% over 12 months

₹7,000₹8,000₹9,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹7,000₹8,000₹9,000Nov '25May '26Nov '26

₹8,549.5 month-end · +54.6% over 3 years

₹6,000₹8,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹6,000₹8,000Nov '23May '25Nov '26

₹8,549.5 month-end · +544.9% since Jan '19

₹2,500₹5,000₹7,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,500₹5,000₹7,500Jan '19Dec '22Nov '26

52-week range ₹6696.50 to ₹9070.50 · 1-year volatility 21.2%

Was the rally earned?

+17%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 31 points, but investors now pay less per rupee of profit (P/E 67.0x to 58.8x), which took 14 points back.
  • The share count barely moved.
Net profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31 ptsNet profit growthP/E change: −14 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−14 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: +17%+17%Share priceNet profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31ProfitP/E change: −14 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−14P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +17%+17%Share price
Net profit growth+31 ptsNet profit rose about 33%, which lifts the price.
P/E change-14 ptsThe P/E fell from 67.0x to 58.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+55%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 117 points, but investors now pay less per rupee of profit (P/E 97.1x to 58.8x), which took 63 points back.
  • The share count barely moved.
Net profit growth: +118 pts. Points of the price return explained by net profit growing (or shrinking).+118 ptsNet profit growthP/E change: −63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−63 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: +55%+55%Share priceNet profit growth: +118 pts. Points of the price return explained by net profit growing (or shrinking).+118ProfitP/E change: −63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−63P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +55%+55%Share price
Net profit growth+118 ptsNet profit rose about 157%, which lifts the price.
P/E change-63 ptsThe P/E fell from 97.1x to 58.8x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+50%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 325 points, but investors now pay less per rupee of profit (P/E 543.8x to 58.8x), which took 274 points back.
  • The share count rose 14%.
Net profit growth: +341 pts. Points of the price return explained by net profit growing (or shrinking).+341 ptsNet profit growthP/E change: −274 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−274 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: +50%+50%Share priceNet profit growth: +341 pts. Points of the price return explained by net profit growing (or shrinking).+341ProfitP/E change: −274 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−274P/EShare count change: −16 pts. Points of the price return explained by the share count changing. More shares count against the price.−16SharesShare price: +50%+50%Share price
Net profit growth+341 ptsNet profit rose about 1485%, which lifts the price.
P/E change-274 ptsThe P/E fell from 543.8x to 58.8x, which lowers the price.
Share count change-16 ptsShare count rose 14%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with MAX HEALTHCARE INSTITUTE

How rough has the ride been?

Maximum drawdown-39.5%recovered 2020-09
1-year volatility21.2%annualised
Beta vs sector index0.613-year daily, correlation 0.50
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−38.1% 0%−20%−40%2020202220242026−38.1%
Largest drawdowns

-39.5% (2020-02 peak to 2020-04 low, recovered 2020-09)

-38.5% (2021-11 peak to 2022-05 low, recovered 2023-12)

-20.8% (2021-09 peak to 2021-10 low, recovered 2021-11)

Most recent volume spikes

2026-09-30: 7.4x the 50-day median, price -5.7% 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?

58.8xP/E todayNear its historic low
Against its own history11th percentile
CheapestMedian 82.3xDearest

Usual range 58.9x to 383.6x since 2019-01.

Against Health Services58.8x vs 50.9x
This company
58.8x
Sector median
50.9x

16% above the Health Services median.

29.7x201.1x372.4x543.8xJan '19Aug '20Mar '22Oct '23May '25Nov '2629.7x201.1x372.4x543.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Services median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianHealth Services 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 Health Services is valued

Where does it rank among Health Services peers?

Each cell is the company's percentile rank among its Health Services 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

  • ROCE59thflat vs a year ago
  • Op. margin19thflat vs a year ago
  • Revenue growth42nd▼ 12 pts vs a year ago
  • EPS growth86thflat vs a year ago
  • Debt/equity ↓16th▲ 7 pts vs a year ago
  • Cash cycle ↓40th▼ 8 pts vs a year ago
  • P/E ↓42nd▼ 3 pts vs a year ago
  • 12M momentum74th▲ 22 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 Health Services sector page Watch it move against Health Services in the Observatory

What is the price implying?

~35%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 99.9x, a holder earning 12%/yr needs earnings to grow about 34.7%/yr for 10 years, then trade at 15x.

Delivered40.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−6.3 ptsimplied minus delivered
Rank652ndmost demanding of 856

Over time

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

-0%27%54% Jan 2019Nov 2026 -0%27%54% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x36.4%37.6%38.8%
15x33.5%34.7%35.9%
20x29.8%31.0%32.1%

Drag a slider to test other assumptions

Implied: 34.7%/yr

Looking back

  • Jan 2020Price implied 34%/yr; EPS has since grown 38%/yr (7.0 yrs)
  • Jan 2021Price implied 41%/yr; EPS has since grown 29%/yr (6.0 yrs)
  • Jan 2022Price implied 50%/yr; EPS has since grown 71%/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 Health Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹8549.50
P/E
58.8x
ROCE
17.0%
Market Cap
₹1.23L cr
Revenue (TTM)
₹26431 cr
P/S
4.7x
P/B
13.0x
ROE
22.0%
Operating Margin
16.0%
Debt / Equity
0.9x
Promoter Holding
28.0%
12M Momentum
16.6%

52-week range

₹6696.50₹9070.50
78% of the way from its 52-week low to its high

Price risk

1Y volatility
21.2%
Beta vs sector
1-year daily
0.72

Balance sheet & cash

Interest cover
operating profit ÷ interest
7.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.56x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.56xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.56x (cash from operations ₹6,912 cr, net profit ₹4,443 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+1 daysWithin range

Debtor days are above the median of the previous three fiscal years by 1 days (50 vs 49). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress8% of fixed assetsWithin range

Capital work-in-progress is 8% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-25 days / 2 yrsWithin range

Days payable changed by -25 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, DIIs added 4.8 pts; FIIs trimmed 4.8 pts; promoters trimmed 1.3 pts.
  • The number of shareholders rose from 1.2 lakh to 1.7 lakh (+46%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters29.3%28.0%-1.3 pts
FIIs46.3%41.5%-4.8 pts
DIIs18.9%23.7%+4.8 pts
Public and others5.3%6.5%+1.2 pts

Number of shareholders

1.7 lakhshareholders+46% since Dec '23
1.2L1.4L1.6L1.8L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 1.2 lakh
Mar '24: 1.3 lakh
Jun '24: 1.3 lakh
Sep '24: 1.2 lakh
Dec '24: 1.3 lakh
Mar '25: 1.3 lakh
Jun '25: 1.4 lakh
Sep '25: 1.6 lakh
Dec '25: 1.8 lakh
Mar '26: 1.7 lakh
Jun '26: 1.7 lakh
 1.2L1.4L1.6L1.8L Dec '23Dec '24Dec '25Jun '26
Dec '23: 1.2 lakh
Mar '24: 1.3 lakh
Jun '24: 1.3 lakh
Sep '24: 1.2 lakh
Dec '24: 1.3 lakh
Mar '25: 1.3 lakh
Jun '25: 1.4 lakh
Sep '25: 1.6 lakh
Dec '25: 1.8 lakh
Mar '26: 1.7 lakh
Jun '26: 1.7 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

−8.7%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like APOLLO HOSPITALS ENTERPRISES L 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 +10% vs the market, against −6% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −2.4%, 80% range −10.5% to −1.4%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
PVRINOX · Feb 2020: −46.5% vs market
BATAINDIA · Feb 2025: −45.3% vs market
UNITDSPR · Apr 2020: −39.4% vs market
BLUEDART · Sep 2022: −34.9% vs market
JUBLFOOD · Jan 2025: −33.4% vs market
RELIANCE · Sep 2020: −31.1% vs market
BHARATFORG · Jul 2024: −28.4% vs market
SUNDRMFAST · Apr 2023: −27.7% vs market
GODREJCP · Sep 2025: −27.6% vs market
SHREECEM · Jun 2020: −27.0% vs market
BALKRISIND · Feb 2025: −22.8% vs market
COROMANDEL · Mar 2020: −21.1% vs market
ULTRACEMCO · Aug 2021: −20.4% vs market
SRF · Jul 2025: −18.1% vs market
AARTIIND · Aug 2021: −17.4% vs market
CENTURYPLY · Sep 2025: −16.6% vs market
METROBRAND · Jan 2025: −16.4% vs market
GODREJIND · Jun 2020: −16.3% vs market
JLHL · Oct 2025: −14.5% vs market
BERGEPAINT · May 2025: −13.8% vs market
LT · Dec 2023: −13.0% vs market
DABUR · Feb 2025: −11.0% vs market
ADANIPORTS · Mar 2021: −10.8% vs market
TORNTPOWER · Jul 2020: −10.7% vs market
MANKIND · Aug 2025: −9.1% vs market
LUPIN · Aug 2024: −8.3% vs market
TATACONSUM · Apr 2025: −8.0% vs market
RAMCOCEM · Feb 2020: −7.6% vs market
UNOMINDA · Oct 2025: −7.4% vs market
MRF · Feb 2020: −6.5% vs market
ZYDUSLIFE · Aug 2020: −6.3% vs market
IPCALAB · Feb 2025: −4.4% vs market
JKCEMENT · Apr 2025: −3.1% vs market
NH · May 2025: +6.2% vs market
ASAHIINDIA · Apr 2025: +6.8% vs market
CIPLA · Mar 2020: +7.2% vs market
TORNTPHARM · Jul 2023: +7.4% vs market
DRREDDY · Feb 2020: +11.1% vs market
KIMS · Nov 2024: +11.9% vs market
GLENMARK · Aug 2025: +19.7% vs market
SYNGENE · Mar 2020: +25.9% vs market
INDHOTEL · Aug 2024: +27.0% vs market
BHARTIARTL · May 2024: +28.7% vs market
TITAN · Aug 2025: +30.6% vs market
BLUESTARCO · Apr 2023: +36.8% vs market
TVSMOTOR · Jul 2025: +46.1% vs market
RADICO · Jun 2025: +50.5% vs market
VBL · Jul 2022: +58.9% vs market
NAVINFLUOR · May 2025: +63.7% vs market
SOLARINDS · Sep 2021: +84.3% vs market
Similar setups −8.7%All companies −6.3%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−8.7%
All companies' median
−6.3%
Beat the market
34% vs 43%

50 past situations · 50 companies · 28 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TORNTPHARM
Health Technology		 Jul 2023 54x20% +31%0% +7%
TITAN
Consumer Durables		 Aug 2025 97x19% +2%−5% +31%
JKCEMENT
Non-Energy Minerals		 Apr 2025 55x16% +28%−3% −3%
KIMS
Health Services		 Nov 2024 75x17% +51%−2% +12%
ULTRACEMCO
Non-Energy Minerals		 Aug 2021 41x15% +101%0% −20%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ZYDUSLIFE
Health Technology		 Aug 2020 32x11% +65%−8% −6%
SRF
Process Industries		 Jul 2025 72x12% +15%−8% −18%
TVSMOTOR
Consumer Durables		 Jul 2025 60x15% +11%−5% +46%
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, 12-month momentum and P/E. 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 APOLLO HOSPITALS ENTERPRISES L. 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.

TVS MOTOR COMPANYTVSMOTOR
Consumer Durables
75%similar
ROCEEPS growth
JK CEMENTJKCEMENT
Non-Energy Minerals
74%similar
operating margindebt/equity
LARSEN AND TOUBROLT
Industrial Services
66%similar
revenue growthdebt/equity
TITAN COMPANYTITAN
Consumer Durables
65%similar
volatilityrevenue
BHARAT FORGEBHARATFORG
Producer Manufacturing
62%similar
market caprevenue
FORTIS HEALTHCAREFORTIS
Health Services
68%similar
P/Epromoter holding
GLOBAL HEALTHMEDANTA
Health Services
62%similar
ROCEpromoter holding
MAX HEALTHCARE INSTITUTEMAXHEALTH
Health Services
58%similar
P/Epromoter holding

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

What changed?

30 events since Jun '21

  1. SepValuationP/E fell below the 10th percentile of its own history to date (56.2x).
  2. SepPriceVolume reached 7.4x its 50-day median on 2026-09-30; price -5.7% that day.
  3. JunPeer rankMoved into the 2nd quartile of Health Services on ROCE (from the 3rd quartile).
  4. AprPeer rankSlipped to the 3rd quartile of Health Services on ROCE (from the 2nd quartile).
  5. MarValuationP/E fell below the 10th percentile of its own history to date (59.2x).
  6. AugPriceVolume reached 6.0x its 50-day median on 2025-08-13; price +7.9% that day.
  7. JunPeer rankMoved into the 2nd quartile of Health Services on ROCE (from the 3rd quartile).
  8. JunDividendDividend payout cut from 26% to 13% of profit.
Show 22 earlier events
  1. FebPriceVolume reached 6.6x its 50-day median on 2025-02-11; price -6.6% that day.
  2. NovPriceVolume reached 9.9x its 50-day median on 2024-11-07; price +6.6% that day.
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the 2nd quartile of Health Services on EPS growth (from the 3rd quartile).
  5. AprPriceVolume reached 6.0x its 50-day median on 2024-04-29; price -4.6% that day.
  6. MarPriceVolume reached 5.1x its 50-day median on 2024-03-01; price -0.3% that day.
  7. DecPriceRegained the 2021-11 peak, 19 months after the low.
  8. JunResultsYear-on-year EPS growth turned negative.
  9. JunPeer rankSlipped to the 3rd quartile of Health Services on ROCE (from the 2nd quartile).
  10. FebPriceVolume reached 8.0x its 50-day median on 2023-02-15; price +5.1% that day.
  11. JanValuationP/E fell below the 10th percentile of its own history to date (58.0x).
  12. JunResultsYear-on-year EPS growth turned positive.
  13. JunValuationP/E fell below the 10th percentile of its own history to date (50.2x).
  14. JunPeer rankMoved into the top quartile of Health Services on EPS growth (from the 3rd quartile).
  15. MayPriceFell 38% from the Nov 2021 peak to the May 2022 low.
  16. MarPriceVolume reached 6.5x its 50-day median on 2022-03-30; price +0.0% that day.
  17. NovPriceVolume reached 11.9x its 50-day median on 2021-11-17; price +12.5% that day.
  18. AugPriceVolume reached 16.6x its 50-day median on 2021-08-17; price +13.2% that day.
  19. JunResultsYear-on-year EPS growth turned negative.
  20. JunValuationP/E crossed above the 90th percentile of its own history to date (346.1x).
  21. JunPeer rankSlipped to the 3rd quartile of Health Services on EPS growth (from the top quartile).
  22. JunDebtDebt / equity fell below 1.0x (0.90x).

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
2026-1158.8x₹26431 cr22.0%17.0%0.9x
2026-1058.1x₹26431 cr22.0%17.0%0.9x
2026-0956.2x₹26431 cr22.0%17.0%0.9x
2026-0865.9x₹25229 cr20.3%17.0%0.9x
2026-0766.3x₹25229 cr20.3%17.0%0.9x
2026-0664.3x₹25229 cr20.3%17.0%0.9x
2026-0565.2x₹24215 cr21.9%17.0%1.0x
2026-0460.9x₹24215 cr21.9%17.0%1.0x
2026-0359.2x₹24215 cr21.9%17.0%1.0x
2026-0267.3x₹23265 cr20.3%17.0%1.0x
2026-0159.9x₹23265 cr20.3%17.0%1.0x
2025-1260.6x₹23265 cr20.3%17.0%1.0x
2025-1167.0x₹22550 cr19.1%17.0%1.0x
2025-1070.2x₹22550 cr19.1%17.0%1.0x
2025-0967.7x₹22550 cr19.1%17.0%1.0x
2025-0875.7x₹21794 cr17.6%17.0%1.0x
2025-0774.6x₹21794 cr17.6%17.0%1.0x
2025-0672.0x₹21794 cr17.6%17.0%1.0x
2025-0575.5x₹21146 cr18.7%15.0%0.8x
2025-0476.6x₹21146 cr18.7%15.0%0.8x
2025-0372.6x₹21146 cr18.7%15.0%0.8x
2025-0273.6x₹20470 cr17.0%15.0%0.8x
2025-0182.8x₹20470 cr17.0%15.0%0.8x
2024-1288.7x₹20470 cr17.0%15.0%0.8x
2024-1194.7x₹19728 cr14.9%15.0%0.8x
2024-1097.3x₹19728 cr14.9%15.0%0.8x
2024-0999.8x₹19728 cr14.9%15.0%0.8x
2024-08110.8x₹19060 cr13.0%15.0%0.8x
2024-07105.8x₹19060 cr13.0%15.0%0.8x
2024-0699.0x₹19060 cr13.0%15.0%0.8x
2024-05102.5x₹16612 cr13.1%14.0%0.7x
2024-04104.4x₹16612 cr13.1%14.0%0.7x
2024-03111.6x₹16612 cr13.1%14.0%0.7x
2024-02107.1x₹16612 cr13.1%14.0%0.7x
2024-01111.5x₹16612 cr13.1%14.0%0.7x
2023-12100.1x₹16612 cr13.1%14.0%0.7x
2023-1197.1x₹16612 cr13.1%14.0%0.7x
2023-1084.6x₹16612 cr13.1%14.0%0.7x
2023-0990.2x₹16612 cr13.1%14.0%0.7x
2023-0884.5x₹16612 cr13.1%14.0%0.7x
2023-0790.8x₹16612 cr13.1%14.0%0.7x
2023-0689.5x₹16612 cr13.1%14.0%0.7x
2023-0563.0x₹14663 cr19.0%17.0%0.7x
2023-0461.5x₹14663 cr19.0%17.0%0.7x
2023-0358.7x₹14663 cr19.0%17.0%0.7x
2023-0260.0x₹14663 cr19.0%17.0%0.7x
2023-0158.0x₹14663 cr19.0%17.0%0.7x
2022-1261.0x₹14663 cr19.0%17.0%0.7x
2022-1164.4x₹14663 cr19.0%17.0%0.7x
2022-1061.5x₹14663 cr19.0%17.0%0.7x
2022-0959.7x₹14663 cr19.0%17.0%0.7x
2022-0858.9x₹14663 cr19.0%17.0%0.7x
2022-0757.4x₹14663 cr19.0%17.0%0.7x
2022-0650.2x₹14663 cr19.0%17.0%0.7x
2022-05380.4x₹10560 cr2.9%8.0%0.9x
2022-04425.8x₹10560 cr2.9%8.0%0.9x
2022-03431.7x₹10560 cr2.9%8.0%0.9x
2022-02459.2x₹10560 cr2.9%8.0%0.9x
2022-01426.1x₹10560 cr2.9%8.0%0.9x
2021-12479.3x₹10560 cr2.9%8.0%0.9x

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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