52-week range
Price risk
Balance sheet & cash
What is the price implying?
At a P/E of 34.5x, the price would imply about 21.7%/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 Finance The market-wide Expectations lists
What changed?
- Oct '26Fell 29% from the Aug 2026 peak to the Oct 2026 low.
- Jul '26Volume reached 23.8x its 50-day median on 2026-07-01; price -7.4% that day.
- Jun '26Slipped to the 2nd quartile of Finance on ROCE (from the top quartile).
- Jun '26Debt / equity rose above 1.0x (1.29x).
- Jun '26Volume reached 17.9x its 50-day median on 2026-06-11; price -2.4% that day.
- Apr '26EPS (TTM) turned positive.
- Apr '26Regained the 2021-10 peak, 53 months after the low.
- Apr '26Moved into the top quartile of Finance on ROCE (from the 3rd quartile).
Show 16 earlier events
- Jan '22Volume reached 19.9x its 50-day median on 2022-01-13; price +0.8% that day.
- Nov '21Fell 43% from the Oct 2021 peak to the Nov 2021 low.
- Oct '21Regained the 2019-01 peak, 19 months after the low.
- Oct '21Volume reached 31.2x its 50-day median on 2021-10-20; price +19.9% that day.
- Sep '21Volume reached 10.5x its 50-day median on 2021-09-21; price +0.0% that day.
- Jun '21Volume reached 162.5x its 50-day median on 2021-06-03; price +4.9% that day.
- Jan '21Volume reached 11.6x its 50-day median on 2021-01-20; price +2.3% that day.
- Nov '20Volume reached 25.7x its 50-day median on 2020-11-25; price +0.3% that day.
- Aug '20Volume reached 8.7x its 50-day median on 2020-08-20; price +8.0% that day.
- Jun '20Debt / equity rose above 1.0x (3.62x).
- Jun '20Volume reached 56.8x its 50-day median on 2020-06-08; price -7.0% that day.
- Mar '20Fell 70% from the Jan 2019 peak to the Mar 2020 low.
- Nov '19Volume reached 166.4x its 50-day median on 2019-11-13; price +3.4% that day.
- Aug '19Volume reached 24.0x its 50-day median on 2019-08-30; price -1.9% that day.
- Jun '19Debt / equity fell below 1.0x (0.96x).
- May '19Volume reached 26.6x its 50-day median on 2019-05-30; price +0.6% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Are profits backed by cash?
2 of 5 checks are within range, 2 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.
Other income reliance16%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 16.1%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate28%Within range
Median quarterly effective tax rate over about 2.5 years: 28.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion0.34xBeyond threshold
Operating cash flow divided by net profit over the last three fiscal years: 0.34x (cash from operations ₹40 cr, net profit ₹116 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow3 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history—Not enough data
Not enough reported data to compute this.
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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-70.4% (2019-01 peak to 2020-03 low, recovered 2021-10)
-43.0% (2021-10 peak to 2021-11 low, recovered 2026-04)
-29.4% (2026-08 peak to 2026-10 low, not yet recovered)
Most recent volume spikes
2026-07-29: 11.4x the 50-day median, price +5.2% that day
2026-07-17: 5.5x the 50-day median, price +1.2% that day
2026-07-16: 7.1x the 50-day median, price -0.6% 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 Finance peers?
Each cell is the company's percentile rank among its Finance peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Finance sector page Watch it move against Finance in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| BHARAT WIRE ROPES (BHARATWIRE) | Producer Manufacturing | 80% | operating margin, debt/equity |
| SUYOG TELEMATICS (SUYOG) | Industrial Services | 60% | ROCE, P/E |
| KRSNAA DIAGNOSTICS (KRSNAA) | Health Services | 58% | operating margin, promoter holding |
| KAMAT HOTELS (INDIA) (KAMATHOTEL) | Consumer Services | 53% | ROCE, operating margin |
| VERANDA LEARNING SOLUTIONS (VERANDA) | Consumer Services | 52% | revenue, promoter holding |
| AWFIS SPACE SOLUTIONS (AWFIS) | Finance | 48% | debt/equity, ROCE |
| ARVIND SMARTSPACES (ARVSMART) | Finance | 43% | debt/equity, P/E |
| ELDECO HOUSING & IND (ELDEHSG) | Finance | 28% | market cap, operating margin |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
Monthly history (94 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 12.3x | ₹472 cr | 19.5% | 16.0% | 1.3x |
| 2026-09 | 13.5x | ₹472 cr | 19.5% | 16.0% | 1.3x |
| 2026-08 | 14.9x | ₹421 cr | 17.2% | 16.0% | 1.3x |
| 2026-07 | 18.8x | ₹421 cr | 17.2% | 16.0% | 1.3x |
| 2026-06 | 13.9x | ₹421 cr | 17.2% | 16.0% | 1.3x |
| 2026-05 | 13.1x | ₹340 cr | 22.9% | 20.0% | 0.5x |
| 2026-04 | 13.4x | ₹340 cr | 22.9% | 20.0% | 0.5x |
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| 2022-02 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2022-01 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-12 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-11 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-10 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-09 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-08 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-07 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-06 | — | ₹56 cr | -17.0% | 2.0% | 3.3x |
| 2021-05 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2021-04 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2021-03 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2021-02 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2021-01 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-12 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-11 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-10 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-09 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-08 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-07 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-06 | — | ₹47 cr | -6.7% | 1.0% | 3.6x |
| 2020-05 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2020-04 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2020-03 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2020-02 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2020-01 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-12 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-11 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-10 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-09 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-08 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-07 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-06 | — | ₹80 cr | -1.8% | 5.0% | 1.0x |
| 2019-05 | — | ₹66 cr | -2.0% | 6.0% | 1.2x |
| 2019-04 | — | ₹66 cr | -2.0% | 6.0% | 1.2x |
| 2019-03 | — | ₹66 cr | -2.0% | 6.0% | 1.2x |
| 2019-02 | — | ₹66 cr | -2.0% | 6.0% | 1.2x |
| 2019-01 | — | ₹66 cr | -2.0% | 6.0% | 1.2x |