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APTECH LIMITED (APTECHT)

Commercial Services

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.51 / 100
Profitability 43Growth 11Balance sheet 100
Compare withFIRSTSOURCE SOLUTIONS LTDNBCC (INDIA) LIMITEDINTL GEMOLOGICAL INSTITUTE LTD
Share Price
₹77.70
P/E
18.4x
ROCE
15.0%
Market Cap
₹451 cr
Revenue (TTM)
₹517 cr
P/S
0.9x
P/B
1.8x
ROE
9.8%
Operating Margin
6.8%
Debt / Equity
0.1x
Promoter Holding
47.4%
12M Momentum
-25.1%
P/E vs its own history6th percentilesince Jan '19
P/E vs Commercial Services0.9xthe sector median

52-week range

₹66.31₹128.48
18% of the way from its 52-week low to its high

Price risk

1Y volatility
40.6%
Beta vs sector
1-year daily
1.17

Balance sheet & cash

Interest cover
operating profit ÷ interest
21.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.50x
Share count, 1Y
unchanged

Was the rally earned?

-25%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 14 points, but investors now pay less per rupee of profit (P/E 29.0x to 18.4x), which took 39 points back.
  • The share count barely moved.
1 year Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-39 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -25% 1 year Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-39 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -25%
Net profit growth+14 ptsNet profit rose about 18%, which lifts the price.
P/E change-39 ptsThe P/E fell from 29.0x to 18.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-70%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 59 points, while the multiple moved less (P/E 22.0x to 18.4x).
  • The share count barely moved.
3 years Net profit growth: -60 pts. Points of the price return explained by net profit growing (or shrinking).-60 ptsP/E change: -10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-10 ptsShare count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. -70% 3 years Net profit growth: -60 pts. Points of the price return explained by net profit growing (or shrinking).-60 ptsP/E change: -10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. -70%
Net profit growth-60 ptsNet profit fell about 64%, which lowers the price.
P/E change-10 ptsThe P/E fell from 22.0x to 18.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-67%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 108.8x to 18.4x), which took 108 points back.
  • The share count rose 4%.
5 years Net profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43 ptsP/E change: -108 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-108 ptsShare count change: -2 pts. Points of the price return explained by the share count changing. More shares count against the price. -67% 5 years Net profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43 ptsP/E change: -108 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-108 ptsShare count change: -2 pts. Points of the price return explained by the share count changing. More shares count against the price. -67%
Net profit growth+43 ptsNet profit rose about 104%, which lifts the price.
P/E change-108 ptsThe P/E fell from 108.8x to 18.4x, which lowers the price.
Share count change-2 ptsShare count rose 4%, 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 FIRSTSOURCE SOLUTIONS

Is it expensive against its own past and its peers?

18.4xP/E todayNear its historic low
Against its own history6th percentileMedian 29.9x; usual range 19.2x to 87.3x since 2019-01.
Against Commercial Services18.4x vs 19.9xBelow the Commercial Services median.
10.3x50.3x90.2x130.1xJan '19Aug '20Mar '22Oct '23May '25Oct '2610.3x50.3x90.2x130.1xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianCommercial Services median

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

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

What is the price implying?

~3%annual earnings growth implied by the price

At a P/E of 11.9x, the price would imply about 3.3%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

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

What prices imply across Commercial Services The market-wide Expectations lists

What changed?

  1. Oct '26P/E fell below the 10th percentile of its own history to date (18.4x).
  2. Sep '26Revenue (TTM) reached a new high of ₹517 cr.
  3. Sep '26Moved into the 3rd quartile of Commercial Services on operating margin (from the bottom quartile).
  4. Jun '26Slipped to the bottom quartile of Commercial Services on operating margin (from the 3rd quartile).
  5. Mar '26Fell 83% from the May 2023 peak to the Mar 2026 low.
  6. Mar '26P/E fell below the 10th percentile of its own history to date (14.6x).
  7. Mar '26Moved into the top quartile of Commercial Services on EPS growth (from the 2nd quartile).
  8. Dec '25Year-on-year EPS growth turned positive.
Show 22 earlier events
  1. Dec '25Moved into the 2nd quartile of Commercial Services on EPS growth (from the 3rd quartile).
  2. Oct '25Slipped to the 3rd quartile of Commercial Services on ROCE (from the 2nd quartile).
  3. Jun '25Revenue (TTM) reached a new high of ₹460 cr.
  4. Jun '25Moved into the 3rd quartile of Commercial Services on EPS growth (from the bottom quartile).
  5. Sep '24Moved into the 3rd quartile of Commercial Services on operating margin (from the bottom quartile).
  6. Jun '24Year-on-year EPS growth turned negative.
  7. Jun '24Slipped to the bottom quartile of Commercial Services on EPS growth (from the 2nd quartile).
  8. Jun '24Share count is up 41.5% over 12 months.
  9. May '24Slipped to the 2nd quartile of Commercial Services on ROCE (from the top quartile).
  10. Mar '24P/E fell below the 10th percentile of its own history to date (19.0x).
  11. Jun '23Revenue (TTM) reached a new high of ₹456 cr.
  12. Jun '23Slipped to the 2nd quartile of Commercial Services on EPS growth (from the top quartile).
  13. Apr '23Regained the 2022-01 peak, 10 months after the low.
  14. Sep '22P/E fell below the 10th percentile of its own history to date (18.7x).
  15. Jun '22Year-on-year EPS growth turned positive.
  16. Jun '22Fell 54% from the Jan 2022 peak to the Jun 2022 low.
  17. Jun '22Moved into the top quartile of Commercial Services on ROCE (from the 3rd quartile).
  18. Mar '22P/E crossed above the 90th percentile of its own history to date (108.6x).
  19. Apr '21Slipped to the 3rd quartile of Commercial Services on EPS growth (from the 2nd quartile).
  20. Feb '21Regained the 2019-01 peak, 11 months after the low.
  21. Jan '21P/E crossed above the 90th percentile of its own history to date (51.2x).
  22. Aug '20Moved into the 2nd quartile of Commercial Services on EPS growth (from the 3rd 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, 1 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance36%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 35.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate31%Within range

Median quarterly effective tax rate over about 2.5 years: 30.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.50xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.50x (cash from operations ₹36 cr, net profit ₹72 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+9 daysWithin range

Debtor days are above the median of the previous three fiscal years by 9 days (49 vs 40). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, FIIs trimmed 1.1 pts; DIIs trimmed 0.5 pts.
  • The number of shareholders fell from 95,054 to 83,261 (-12%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters47.4%47.4%0.0 pts
FIIs1.5%0.5%-1.1 pts
DIIs1.1%0.6%-0.5 pts
Public and others50.0%51.6%+1.6 pts

Number of shareholders

83,261shareholders-12% since Dec '23
82k89k96k1.0L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 95,054
Mar '24: 97,917
Jun '24: 98,401
Sep '24: 1.0 lakh
Dec '24: 1.0 lakh
Mar '25: 1.0 lakh
Jun '25: 99,403
Sep '25: 83,282
Dec '25: 82,763
Mar '26: 81,728
Jun '26: 83,261
 82k89k96k1.0L Dec '23Dec '24Dec '25Jun '26
Dec '23: 95,054
Mar '24: 97,917
Jun '24: 98,401
Sep '24: 1.0 lakh
Dec '24: 1.0 lakh
Mar '25: 1.0 lakh
Jun '25: 99,403
Sep '25: 83,282
Dec '25: 82,763
Mar '26: 81,728
Jun '26: 83,261

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-82.9%not yet recovered
1-year volatility40.6%annualised

Monthly share price

₹57₹168₹279₹389 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹116.64
2019-02: ₹107.58
2019-03: ₹121.87
2019-04: ₹109.45
2019-05: ₹108.25
2019-06: ₹98.89
2019-07: ₹86.66
2019-08: ₹86.70
2019-09: ₹107.43
2019-10: ₹121.01
2019-11: ₹112.18
2019-12: ₹110.70
2020-01: ₹113.81
2020-02: ₹80.61
2020-03: ₹57.24
2020-04: ₹71.01
2020-05: ₹67.27
2020-06: ₹68.33
2020-07: ₹75.14
2020-08: ₹84.26
2020-09: ₹80.42
2020-10: ₹78.88
2020-11: ₹83.25
2020-12: ₹108.15
2021-01: ₹122.79
2021-02: ₹150.38
2021-03: ₹127.73
2021-04: ₹139.82
2021-05: ₹142.32
2021-06: ₹164.77
2021-07: ₹197.45
2021-08: ₹208.53
2021-09: ₹210.45
2021-10: ₹233.82
2021-11: ₹249.08
2021-12: ₹279.69
2022-01: ₹254.55
2022-02: ₹211.31
2022-03: ₹233.39
2022-04: ₹249.17
2022-05: ₹156.33
2022-06: ₹147.26
2022-07: ₹165.97
2022-08: ₹172.69
2022-09: ₹159.45
2022-10: ₹221.01
2022-11: ₹226.14
2022-12: ₹225.71
2023-01: ₹242.21
2023-02: ₹224.46
2023-03: ₹233.87
2023-04: ₹291.92
2023-05: ₹389.42
2023-06: ₹343.50
2023-07: ₹324.07
2023-08: ₹295.95
2023-09: ₹269.85
2023-10: ₹256.51
2023-11: ₹243.32
2023-12: ₹249.89
2024-01: ₹262.27
2024-02: ₹232.23
2024-03: ₹222.25
2024-04: ₹248.45
2024-05: ₹215.68
2024-06: ₹208.58
2024-07: ₹228.43
2024-08: ₹222.05
2024-09: ₹209.62
2024-10: ₹168.57
2024-11: ₹169.76
2024-12: ₹173.74
2025-01: ₹151.28
2025-02: ₹106.92
2025-03: ₹112.22
2025-04: ₹146.18
2025-05: ₹155.03
2025-06: ₹148.20
2025-07: ₹125.11
2025-08: ₹124.39
2025-09: ₹115.41
2025-10: ₹103.68
2025-11: ₹100.25
2025-12: ₹89.51
2026-01: ₹76.69
2026-02: ₹83.94
2026-03: ₹67.38
2026-04: ₹100.66
2026-05: ₹102.77
2026-06: ₹103.61
2026-07: ₹91.67
2026-08: ₹91.84
2026-09: ₹88.26
2026-10: ₹77.70
 ₹57₹168₹279₹389 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹116.64
2019-02: ₹107.58
2019-03: ₹121.87
2019-04: ₹109.45
2019-05: ₹108.25
2019-06: ₹98.89
2019-07: ₹86.66
2019-08: ₹86.70
2019-09: ₹107.43
2019-10: ₹121.01
2019-11: ₹112.18
2019-12: ₹110.70
2020-01: ₹113.81
2020-02: ₹80.61
2020-03: ₹57.24
2020-04: ₹71.01
2020-05: ₹67.27
2020-06: ₹68.33
2020-07: ₹75.14
2020-08: ₹84.26
2020-09: ₹80.42
2020-10: ₹78.88
2020-11: ₹83.25
2020-12: ₹108.15
2021-01: ₹122.79
2021-02: ₹150.38
2021-03: ₹127.73
2021-04: ₹139.82
2021-05: ₹142.32
2021-06: ₹164.77
2021-07: ₹197.45
2021-08: ₹208.53
2021-09: ₹210.45
2021-10: ₹233.82
2021-11: ₹249.08
2021-12: ₹279.69
2022-01: ₹254.55
2022-02: ₹211.31
2022-03: ₹233.39
2022-04: ₹249.17
2022-05: ₹156.33
2022-06: ₹147.26
2022-07: ₹165.97
2022-08: ₹172.69
2022-09: ₹159.45
2022-10: ₹221.01
2022-11: ₹226.14
2022-12: ₹225.71
2023-01: ₹242.21
2023-02: ₹224.46
2023-03: ₹233.87
2023-04: ₹291.92
2023-05: ₹389.42
2023-06: ₹343.50
2023-07: ₹324.07
2023-08: ₹295.95
2023-09: ₹269.85
2023-10: ₹256.51
2023-11: ₹243.32
2023-12: ₹249.89
2024-01: ₹262.27
2024-02: ₹232.23
2024-03: ₹222.25
2024-04: ₹248.45
2024-05: ₹215.68
2024-06: ₹208.58
2024-07: ₹228.43
2024-08: ₹222.05
2024-09: ₹209.62
2024-10: ₹168.57
2024-11: ₹169.76
2024-12: ₹173.74
2025-01: ₹151.28
2025-02: ₹106.92
2025-03: ₹112.22
2025-04: ₹146.18
2025-05: ₹155.03
2025-06: ₹148.20
2025-07: ₹125.11
2025-08: ₹124.39
2025-09: ₹115.41
2025-10: ₹103.68
2025-11: ₹100.25
2025-12: ₹89.51
2026-01: ₹76.69
2026-02: ₹83.94
2026-03: ₹67.38
2026-04: ₹100.66
2026-05: ₹102.77
2026-06: ₹103.61
2026-07: ₹91.67
2026-08: ₹91.84
2026-09: ₹88.26
2026-10: ₹77.70

Last 90 trading days

₹78₹87₹96₹106 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹105.05
2026-06-25: ₹105.63
2026-06-30: ₹103.61
2026-07-02: ₹104.18
2026-07-06: ₹104.18
2026-07-08: ₹98.20
2026-07-10: ₹100.09
2026-07-14: ₹98.37
2026-07-16: ₹96.89
2026-07-20: ₹95.05
2026-07-22: ₹92.07
2026-07-24: ₹91.35
2026-07-28: ₹91.31
2026-07-30: ₹90.66
2026-08-03: ₹95.27
2026-08-05: ₹98.73
2026-08-07: ₹96.27
2026-08-11: ₹94.44
2026-08-13: ₹93.50
2026-08-17: ₹94.78
2026-08-19: ₹92.85
2026-08-21: ₹92.51
2026-08-25: ₹90.95
2026-08-27: ₹90.28
2026-08-31: ₹91.84
2026-09-02: ₹90.78
2026-09-04: ₹89.13
2026-09-08: ₹89.69
2026-09-10: ₹87.49
2026-09-15: ₹86.38
2026-09-17: ₹87.67
2026-09-21: ₹94.72
2026-09-23: ₹92.06
2026-09-25: ₹91.22
2026-09-29: ₹88.61
2026-10-01: ₹87.03
2026-10-06: ₹88.19
2026-10-08: ₹85.05
2026-10-12: ₹86.28
2026-10-14: ₹86.95
2026-10-16: ₹86.25
2026-10-21: ₹82.67
2026-10-23: ₹78.82
2026-10-27: ₹80.31
2026-10-29: ₹80.49
2026-10-30: ₹77.70
 ₹78₹87₹96₹106 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹105.05
2026-06-25: ₹105.63
2026-06-30: ₹103.61
2026-07-02: ₹104.18
2026-07-06: ₹104.18
2026-07-08: ₹98.20
2026-07-10: ₹100.09
2026-07-14: ₹98.37
2026-07-16: ₹96.89
2026-07-20: ₹95.05
2026-07-22: ₹92.07
2026-07-24: ₹91.35
2026-07-28: ₹91.31
2026-07-30: ₹90.66
2026-08-03: ₹95.27
2026-08-05: ₹98.73
2026-08-07: ₹96.27
2026-08-11: ₹94.44
2026-08-13: ₹93.50
2026-08-17: ₹94.78
2026-08-19: ₹92.85
2026-08-21: ₹92.51
2026-08-25: ₹90.95
2026-08-27: ₹90.28
2026-08-31: ₹91.84
2026-09-02: ₹90.78
2026-09-04: ₹89.13
2026-09-08: ₹89.69
2026-09-10: ₹87.49
2026-09-15: ₹86.38
2026-09-17: ₹87.67
2026-09-21: ₹94.72
2026-09-23: ₹92.06
2026-09-25: ₹91.22
2026-09-29: ₹88.61
2026-10-01: ₹87.03
2026-10-06: ₹88.19
2026-10-08: ₹85.05
2026-10-12: ₹86.28
2026-10-14: ₹86.95
2026-10-16: ₹86.25
2026-10-21: ₹82.67
2026-10-23: ₹78.82
2026-10-27: ₹80.31
2026-10-29: ₹80.49
2026-10-30: ₹77.70

Drawdown from peak

0% -41% -82% Jan '19Dec '22Oct '26 0% -41% -82% Jan '19Dec '22Oct '26
Largest drawdowns

-82.9% (2023-05 peak to 2026-03 low, not yet recovered)

-66.4% (2019-01 peak to 2020-03 low, recovered 2021-02)

-53.9% (2022-01 peak to 2022-06 low, recovered 2023-04)

Where does it rank among Commercial Services peers?

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

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 Commercial Services sector page Watch it move against Commercial Services in the Observatory

What happened next to similar setups

+0.9%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like APTECH 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 −16% to +30% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (+4.3%, 80% range −1.7% to +9.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
UDS · Jun 2025: −35.9% vs market
FAIRCHEMOR · Aug 2024: −35.6% vs market
GANESHBE · Sep 2023: −34.7% vs market
ROSSARI · Oct 2025: −32.6% vs market
RUPA · Oct 2025: −32.1% vs market
GOYALALUM · Nov 2024: −31.0% vs market
TVTODAY · Jun 2024: −26.2% vs market
TCIEXP · Oct 2025: −25.8% vs market
BANCOINDIA · Mar 2021: −21.5% vs market
BALMLAWRIE · Sep 2020: −20.5% vs market
BUTTERFLY · Sep 2025: −19.6% vs market
MMP · Mar 2020: −19.0% vs market
AVTNPL · Jan 2025: −16.5% vs market
LINC · Feb 2025: −15.3% vs market
FMGOETZE · Sep 2023: −15.0% vs market
BLISSGVS · Jun 2023: −13.6% vs market
SUBROS · May 2021: −12.6% vs market
NILKAMAL · Feb 2022: −12.3% vs market
VARDHACRLC · Jan 2020: −11.6% vs market
TTKHLTCARE · Aug 2025: −6.9% vs market
PLASTIBLEN · May 2023: −3.0% vs market
BBL · Jun 2020: −2.2% vs market
AVANTIFEED · Apr 2023: −0.4% vs market
VAIBHAVGBL · Aug 2025: −0.3% vs market
MUNJALSHOW · May 2020: +0.4% vs market
IOLCP · Feb 2025: +1.4% vs market
RALLIS · Jul 2023: +2.5% vs market
INTLCONV · May 2023: +3.8% vs market
VSSL · Nov 2024: +6.1% vs market
PRECWIRE · Sep 2020: +10.6% vs market
TCI · Feb 2024: +13.1% vs market
VEEDOL · Mar 2023: +13.4% vs market
ORIENTCER · Jun 2023: +17.9% vs market
LUMAXTECH · Jun 2021: +18.5% vs market
DICIND · Sep 2025: +24.7% vs market
GOODYEAR · Jul 2022: +29.1% vs market
INDNIPPON · Apr 2023: +29.4% vs market
KIRLOSENG · May 2020: +30.1% vs market
HERITGFOOD · Dec 2022: +31.2% vs market
DODLA · Aug 2022: +32.2% vs market
WINDLAS · Dec 2022: +34.9% vs market
ALBERTDAVD · Oct 2022: +35.6% vs market
GAEL · Oct 2025: +45.3% vs market
ALLDIGI · May 2023: +56.3% vs market
INSECTICID · Nov 2021: +61.6% vs market
GANECOS · Nov 2021: +71.6% vs market
ADOR · Aug 2025: +73.9% vs market
IFGLEXPOR · Mar 2023: +74.7% vs market
SHRIPISTON · May 2022: +102.5% vs market
AMBIKCO · Feb 2021: +115.2% vs market
Similar setups +0.9%All companies −3.4%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+0.9%
All companies' median
−3.4%
Beat the market
52% vs 46%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AMBIKCO
Process Industries		 Feb 2021 10x14% +24%−17% +115%
PLASTIBLEN
Process Industries		 May 2023 13x13% −8%−23% −3%
SHRIPISTON
Producer Manufacturing		 May 2022 18x11% −8%−36% +103%
TVTODAY
Consumer Services		 Jun 2024 24x11% +18%−13% −26%
DICIND
Process Industries		 Sep 2025 21x15% −31%−38% +25%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
FMGOETZE
Producer Manufacturing		 Sep 2023 17x15% +10%−15% −15%
TTKHLTCARE
Health Technology		 Aug 2025 20x9% −27%−37% −7%
INSECTICID
Process Industries		 Nov 2021 14x15% +44%−24% +62%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to APTECH 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
2026-1018.4x₹517 cr9.8%15.0%0.1x
2026-0920.9x₹517 cr9.8%15.0%0.1x
2026-0822.6x₹503 cr9.4%15.0%0.1x
2026-0722.6x₹503 cr9.4%15.0%0.1x
2026-0625.5x₹503 cr9.4%15.0%0.1x
2026-0522.3x₹511 cr10.6%14.0%0.0x
2026-0421.9x₹511 cr10.6%14.0%0.0x
2026-0314.6x₹511 cr10.6%14.0%0.0x
2026-0222.4x₹484 cr8.6%14.0%0.0x
2026-0120.5x₹484 cr8.6%14.0%0.0x
2025-1223.9x₹484 cr8.6%14.0%0.0x
2025-1128.0x₹476 cr8.3%14.0%0.0x
2025-1029.0x₹476 cr8.3%14.0%0.0x
2025-0932.2x₹476 cr8.3%14.0%0.0x
2025-0837.8x₹460 cr7.6%14.0%0.0x
2025-0738.0x₹460 cr7.6%14.0%0.0x
2025-0645.0x₹460 cr7.6%14.0%0.0x
2025-0553.3x₹445 cr6.5%19.0%0.0x
2025-0450.2x₹445 cr6.5%19.0%0.0x
2025-0338.6x₹445 cr6.5%19.0%0.0x
2025-0231.0x₹436 cr7.7%19.0%0.0x
2025-0143.8x₹436 cr7.7%19.0%0.0x
2024-1250.4x₹436 cr7.7%19.0%0.0x
2024-1138.0x₹419 cr10.0%19.0%0.0x
2024-1037.7x₹419 cr10.0%19.0%0.0x
2024-0946.9x₹419 cr10.0%19.0%0.0x
2024-0844.4x₹437 cr11.2%19.0%0.0x
2024-0745.7x₹437 cr11.2%19.0%0.0x
2024-0641.7x₹437 cr11.2%19.0%0.0x
2024-0518.5x₹456 cr26.6%35.0%0.0x
2024-0421.3x₹456 cr26.6%35.0%0.0x
2024-0319.0x₹456 cr26.6%35.0%0.0x
2024-0219.9x₹456 cr26.6%35.0%0.0x
2024-0122.5x₹456 cr26.6%35.0%0.0x
2023-1221.4x₹456 cr26.6%35.0%0.0x
2023-1120.9x₹456 cr26.6%35.0%0.0x
2023-1022.0x₹456 cr26.6%35.0%0.0x
2023-0923.1x₹456 cr26.6%35.0%0.0x
2023-0825.4x₹456 cr26.6%35.0%0.0x
2023-0727.8x₹456 cr26.6%35.0%0.0x
2023-0629.4x₹456 cr26.6%35.0%0.0x
2023-0545.6x₹225 cr23.3%23.0%0.0x
2023-0434.2x₹225 cr23.3%23.0%0.0x
2023-0327.4x₹225 cr23.3%23.0%0.0x
2023-0226.3x₹225 cr23.3%23.0%0.0x
2023-0128.4x₹225 cr23.3%23.0%0.0x
2022-1226.4x₹225 cr23.3%23.0%0.0x
2022-1126.5x₹225 cr23.3%23.0%0.0x
2022-1025.9x₹225 cr23.3%23.0%0.0x
2022-0918.7x₹225 cr23.3%23.0%0.0x
2022-0820.2x₹225 cr23.3%23.0%0.0x
2022-0719.4x₹225 cr23.3%23.0%0.0x
2022-0617.2x₹225 cr23.3%23.0%0.0x
2022-0572.7x₹118 cr7.2%5.0%0.0x
2022-04115.9x₹118 cr7.2%5.0%0.0x
2022-03108.6x₹118 cr7.2%5.0%0.0x
2022-0298.3x₹118 cr7.2%5.0%0.0x
2022-01118.4x₹118 cr7.2%5.0%0.0x
2021-12130.1x₹118 cr7.2%5.0%0.0x
2021-11115.9x₹118 cr7.2%5.0%0.0x
2021-10108.8x₹118 cr7.2%5.0%0.0x
2021-0997.9x₹118 cr7.2%5.0%0.0x
2021-0897.0x₹118 cr7.2%5.0%0.0x
2021-0791.8x₹118 cr7.2%5.0%0.0x
2021-0676.6x₹118 cr7.2%5.0%0.0x
2021-0559.3x₹216 cr5.4%7.0%0.1x
2021-0458.3x₹216 cr5.4%7.0%0.1x
2021-0353.2x₹216 cr5.4%7.0%0.1x
2021-0262.7x₹216 cr5.4%7.0%0.1x
2021-0151.2x₹216 cr5.4%7.0%0.1x
2020-1245.1x₹216 cr5.4%7.0%0.1x
2020-1134.7x₹216 cr5.4%7.0%0.1x
2020-1032.9x₹216 cr5.4%7.0%0.1x
2020-0933.5x₹216 cr5.4%7.0%0.1x
2020-0835.1x₹216 cr5.4%7.0%0.1x
2020-0731.3x₹216 cr5.4%7.0%0.1x
2020-0628.5x₹216 cr5.4%7.0%0.1x
2020-0520.6x₹207 cr6.5%8.0%0.0x
2020-0421.8x₹207 cr6.5%8.0%0.0x
2020-0317.6x₹207 cr6.5%8.0%0.0x
2020-0224.7x₹207 cr6.5%8.0%0.0x
2020-0134.9x₹207 cr6.5%8.0%0.0x
2019-1234.0x₹207 cr6.5%8.0%0.0x
2019-1134.4x₹207 cr6.5%8.0%0.0x
2019-1037.1x₹207 cr6.5%8.0%0.0x
2019-0933.0x₹207 cr6.5%8.0%0.0x
2019-0826.6x₹207 cr6.5%8.0%0.0x
2019-0726.6x₹207 cr6.5%8.0%0.0x
2019-0630.3x₹207 cr6.5%8.0%0.0x
2019-0518.4x₹228 cr11.8%8.0%0.0x
2019-0418.6x₹228 cr11.8%8.0%0.0x
2019-0320.7x₹228 cr11.8%8.0%0.0x
2019-0218.3x₹228 cr11.8%8.0%0.0x
2019-0119.8x₹228 cr11.8%8.0%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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