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ARROW GREENTECH LIMITED (ARROWGREEN)

Process Industries · Containers/Packaging · figures to Nov '26

Quality #10Balance sheet #1
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.98 / 100
Profitability 97Growth 96Balance 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.60 / 100
Price 55Earnings 49FII/DII 77

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withTIME TECHNOPLASTEPLAGI GREENPAC

Share price

Closing priceAdjusted for splits and bonus issues.

₹739.45 latest close · +18.7% over the last 90 sessions

₹600₹700₹800₹900Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹600₹700₹800₹900Jul 3Sep 4Nov 9

₹739.45 month-end · +32.6% over 12 months

₹400₹600₹800Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹600₹800Nov '25May '26Nov '26

₹739.45 month-end · +62.1% over 3 years

₹400₹600₹800Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600₹800Nov '23May '25Nov '26

₹739.45 month-end · +528.8% since Jan '19

₹0₹250₹500₹750Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹250₹500₹750Jan '19Dec '22Nov '26

52-week range ₹341.95 to ₹952.75 · 1-year volatility 50.8%

Was the rally earned?

+33%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings added 20 points and the multiple added 13 points (P/E 15.6x to 17.5x).
  • The share count barely moved.
Net profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19 ptsNet profit growthP/E change: +13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+13 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: +33%+33%Share priceNet profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19ProfitP/E change: +13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+13P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +33%+33%Share price
Net profit growth+19 ptsNet profit rose about 18%, which lifts the price.
P/E change+13 ptsThe P/E rose from 15.6x to 17.5x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+62%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 212 points, but investors now pay less per rupee of profit (P/E 56.0x to 17.5x), which took 150 points back.
  • The share count rose 2%.
Net profit growth: +215 pts. Points of the price return explained by net profit growing (or shrinking).+215 ptsNet profit growthP/E change: −150 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−150 ptsP/E changeShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3 ptsShare count changeShare price: +62%+62%Share priceNet profit growth: +215 pts. Points of the price return explained by net profit growing (or shrinking).+215ProfitP/E change: −150 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−150P/EShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3SharesShare price: +62%+62%Share price
Net profit growth+215 ptsNet profit rose about 432%, which lifts the price.
P/E change-150 ptsThe P/E fell from 56.0x to 17.5x, which lowers the price.
Share count change-3 ptsShare count rose 2%, which lowers the price.
+387%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 545 points, but investors now pay less per rupee of profit (P/E 33.4x to 17.5x), which took 158 points back.
  • The share count barely moved.
Net profit growth: +540 pts. Points of the price return explained by net profit growing (or shrinking).+540 ptsNet profit growthP/E change: −158 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−158 ptsP/E changeShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price.+5 ptsShare count changeShare price: +387%+387%Share priceNet profit growth: +540 pts. Points of the price return explained by net profit growing (or shrinking).+540ProfitP/E change: −158 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−158P/EShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price.+5SharesShare price: +387%+387%Share price
Net profit growth+540 ptsNet profit rose about 812%, which lifts the price.
P/E change-158 ptsThe P/E fell from 33.4x to 17.5x, which lowers the price.
Share count change+5 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

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

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

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

Compare this with TIME TECHNOPLAST

How rough has the ride been?

Maximum drawdown-72.9%recovered 2021-05
1-year volatility50.8%annualised
Beta vs sector index1.163-year daily, correlation 0.34
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−72.7% 0%−20%−40%−60%2020202220242026−72.7%
Largest drawdowns

-72.9% (2019-01 peak to 2020-03 low, recovered 2021-05)

-68.2% (2024-11 peak to 2026-03 low, not yet recovered)

-60.0% (2021-06 peak to 2022-07 low, recovered 2022-11)

Most recent volume spikes

2026-11-04: 5.6x the 50-day median, price +7.4% that day

2026-09-22: 7.6x the 50-day median, price +4.2% that day

2026-09-16: 16x the 50-day median, price +8.2% 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?

17.5xP/E todayWithin its usual range
Against its own history29th percentile
CheapestMedian 26.7xDearest

Usual range 14.8x to 61.0x since 2019-01.

Against Process Industries17.5x vs 18.1x
This company
17.5x
Sector median
18.1x

Close to the Process Industries median.

6.8x210.8x414.9x619.0xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x210.8x414.9x619.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE95th▼ 4 pts vs a year ago
  • Op. margin100thflat vs a year ago
  • Revenue growth62nd▼ 23 pts vs a year ago
  • EPS growth60th▼ 14 pts vs a year ago
  • Debt/equity ↓92nd▼ 3 pts vs a year ago
  • Cash cycle ↓36th▼ 28 pts vs a year ago
  • P/E ↓53rd▼ 13 pts vs a year ago
  • 12M momentum84th▲ 57 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 38.8x, a holder earning 12%/yr needs earnings to grow about 22.6%/yr for 10 years, then trade at 15x.

Delivered29.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−7.1 ptsimplied minus delivered
Rank669thmost demanding of 856

Over time

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

-33%7%46% Jan 2019Nov 2026 -33%7%46% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.2%25.3%26.4%
15x21.5%22.6%23.7%
20x18.2%19.2%20.3%

Drag a slider to test other assumptions

Implied: 22.6%/yr

Looking back

  • Jan 2022Price implied 30%/yr; EPS has since grown 44%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹739.45
P/E
17.5x
ROCE
30.0%
Market Cap
₹1116 cr
Revenue (TTM)
₹247 cr
P/S
4.5x
P/B
4.8x
ROE
27.3%
Operating Margin
41.0%
Debt / Equity
0.0x
Promoter Holding
65.7%
12M Momentum
32.6%

52-week range

₹341.95₹952.75
65% of the way from its 52-week low to its high

Price risk

1Y volatility
50.8%
Beta vs sector
1-year daily
1.00

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.93x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance9%Within range

Other income as a share of pre-tax profit (trailing twelve months): 9.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate28%Within range

Median quarterly effective tax rate over about 2.5 years: 27.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.93xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.93x (cash from operations ₹129 cr, net profit ₹139 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-17 daysWithin range

Debtor days are below the median of the previous three fiscal years by 17 days (62 vs 79). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress5% of fixed assetsWithin range

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

Payable days-9 days / 2 yrsWithin range

Days payable changed by -9 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, promoters trimmed 2.9 pts; DIIs added 1.0 pts.
  • The number of shareholders rose from 8,137 to 20,487 (+152%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters68.6%65.7%-2.9 pts
FIIs0.0%0.2%+0.2 pts
DIIs0.0%1.0%+1.0 pts
Public and others31.4%33.2%+1.8 pts

Number of shareholders

20,487shareholders+152% since Sep '23
8k13k18k23k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 8,137
Dec '23: 12,630
Mar '24: 13,430
Jun '24: 14,838
Sep '24: 22,320
Dec '24: 22,038
Mar '25: 22,605
Jun '25: 21,685
Sep '25: 21,947
Dec '25: 21,521
Mar '26: 21,442
Jun '26: 20,487
 8k13k18k23k Sep '23Sep '24Sep '25Jun '26
Sep '23: 8,137
Dec '23: 12,630
Mar '24: 13,430
Jun '24: 14,838
Sep '24: 22,320
Dec '24: 22,038
Mar '25: 22,605
Jun '25: 21,685
Sep '25: 21,947
Dec '25: 21,521
Mar '26: 21,442
Jun '26: 20,487

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

−5.5%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 ARROW GREENTECH 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 −27% to +36% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−2.2%, 80% range −11.7% to +5.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
IPL · Feb 2024: −64.7% vs market
ALLETEC · Jun 2025: −64.0% vs market
PIXTRANS · Jan 2025: −41.5% vs market
MARKSANS · May 2021: −41.4% vs market
GRSE · Aug 2020: −40.3% vs market
INTENTECH · Jul 2021: −39.8% vs market
CONTROLPR · Jan 2024: −38.2% vs market
BDL · Aug 2020: −37.7% vs market
ENGINERSIN · Jan 2024: −32.3% vs market
CARERATING · Oct 2021: −31.2% vs market
MAYURUNIQ · Apr 2021: −30.8% vs market
CONCORDBIO · Jun 2025: −30.5% vs market
PROPEQUITY · May 2024: −27.0% vs market
VIMTALABS · Aug 2023: −26.5% vs market
DATAMATICS · Jun 2023: −24.3% vs market
REPL · Oct 2021: −22.9% vs market
VILAS · Sep 2025: −21.7% vs market
KRONOX · Jul 2025: −20.7% vs market
ACCELYA · Apr 2023: −18.7% vs market
AVTNPL · Jun 2022: −18.7% vs market
TAJGVK · Jul 2025: −16.2% vs market
LIKHITHA · May 2023: −11.7% vs market
NUCLEUS · Jul 2023: −6.8% vs market
SASKEN · Jan 2021: −6.1% vs market
SYSTANGO · Oct 2025: −5.7% vs market
LINCOLN · Aug 2020: −5.3% vs market
WEALTH · Feb 2023: −3.6% vs market
MAZDA · Jan 2024: −2.8% vs market
GANDHITUBE · Mar 2023: +0.8% vs market
EXPLEOSOL · May 2022: +6.1% vs market
MONARCH · Feb 2024: +12.7% vs market
SUPRIYA · Aug 2025: +13.5% vs market
CAPLIPOINT · Jul 2025: +15.6% vs market
BETA · Jan 2024: +18.5% vs market
RITES · May 2023: +29.8% vs market
DENORA · Jan 2023: +31.7% vs market
VESUVIUS · Mar 2024: +32.6% vs market
NOCIL · May 2020: +36.9% vs market
MPSLTD · Apr 2024: +40.6% vs market
VOLTAMP · Nov 2023: +42.8% vs market
RSYSTEMS · Jun 2022: +56.0% vs market
OAL · Sep 2020: +56.5% vs market
INDRAMEDCO · May 2024: +70.3% vs market
STEELCAS · Sep 2025: +75.4% vs market
FCL · Jul 2021: +87.0% vs market
ECLERX · Oct 2020: +97.1% vs market
TRITURBINE · Jul 2022: +104.1% vs market
MOLDTECH · Nov 2022: +118.3% vs market
ACCENTMIC · Oct 2025: +145.3% vs market
SAKSOFT · Jul 2022: +179.6% vs market
Similar setups −5.5%All companies −3.3%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
−5.5%
All companies' median
−3.3%
Beat the market
44% vs 46%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GANDHITUBE
Non-Energy Minerals		 Mar 2023 15x30% +40%−22% +1%
MPSLTD
Consumer Services		 Apr 2024 25x36% +98%−11% +41%
LIKHITHA
Industrial Services		 May 2023 23x36% +90%−10% −12%
FCL
Process Industries		 Jul 2021 28x28% +249%−4% +87%
VIMTALABS
Commercial Services		 Aug 2023 27x25% +55%−4% −27%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUPRIYA
Health Technology		 Aug 2025 28x27% +20%−19% +14%
PIXTRANS
Producer Manufacturing		 Jan 2025 25x23% +68%−22% −42%
TAJGVK
Consumer Services		 Jul 2025 22x20% +25%−20% −16%
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, P/E and 12-month momentum. 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 ARROW GREENTECH LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

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

SAFE ENTERPRISES RETAILSAFEENTP
Miscellaneous
75%similar
revenuemarket cap
GARUDA CONSTRUCTION n ENGGARUDA
Industrial Services
74%similar
volatilitypromoter holding
SAHANA SYSTEMSAHANA
Technology Services
74%similar
market capP/E
SYNCOM FORMULATIONS (INDIA) LTSYNCOMF
Health Technology
65%similar
revenue growthEPS growth
WEALTH FIRST PORTFOLIO MGRWEALTH
Finance
65%similar
ROCErevenue growth
KRONOX LAB SCIENCESKRONOX
Process Industries
66%similar
debt/equityROCE
SACHEEROMESACHEEROME
Process Industries
53%similar
revenueROCE
SHREE RAMA MULTI-TECHSHREERAMA
Process Industries
46%similar
EPS growthrevenue

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

What changed?

30 events since Jun '23

  1. NovPriceVolume reached 5.6x its 50-day median on 2026-11-04; price +7.4% that day.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
  4. SepPriceVolume reached 16.0x its 50-day median on 2026-09-16; price +8.2% that day.
  5. JunPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
  6. JunPriceVolume reached 47.2x its 50-day median on 2026-06-09; price +12.8% that day.
  7. MarPriceFell 68% from the Nov 2024 peak to the Mar 2026 low.
  8. MarPriceVolume reached 37.5x its 50-day median on 2026-03-30; price +18.7% that day.
Show 22 earlier events
  1. DecResultsYear-on-year EPS growth turned negative.
  2. DecValuationP/E fell below the 10th percentile of its own history to date (15.0x).
  3. DecPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  4. OctPriceVolume reached 100.3x its 50-day median on 2025-10-24; price +17.7% that day.
  5. SepPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  6. AugValuationP/E fell below the 10th percentile of its own history to date (14.2x).
  7. AugPriceVolume reached 38.1x its 50-day median on 2025-08-14; price -11.4% that day.
  8. DecValuationP/E fell below the 10th percentile of its own history to date (22.0x).
  9. NovPriceVolume reached 9.3x its 50-day median on 2024-11-07; price +10.0% that day.
  10. AugPriceVolume reached 17.4x its 50-day median on 2024-08-06; price -10.0% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹149 cr.
  12. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  13. MayPriceRegained the 2023-10 peak, 2 months after the low.
  14. MayPriceVolume reached 43.5x its 50-day median on 2024-05-03; price +14.7% that day.
  15. AprPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  16. MarPriceFell 27% from the Oct 2023 peak to the Mar 2024 low.
  17. FebPriceVolume reached 16.0x its 50-day median on 2024-02-01; price +8.6% that day.
  18. OctPriceVolume reached 24.9x its 50-day median on 2023-10-27; price +17.7% that day.
  19. JunResultsEPS (TTM) turned positive.
  20. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the bottom quartile).
  21. JunDividendStarted paying a dividend (payout 12% of profit).
  22. JunSharesShare count is up 7.1% over 12 months.

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
2026-1117.5x₹247 cr27.3%30.0%0.0x
2026-1016.5x₹247 cr26.9%30.0%0.0x
2026-0920.2x₹247 cr26.9%30.0%0.0x
2026-0822.4x₹201 cr20.1%30.0%0.0x
2026-0723.0x₹201 cr20.1%30.0%0.0x
2026-0619.1x₹201 cr20.1%30.0%0.0x
2026-0515.6x₹216 cr27.1%53.0%0.0x
2026-0415.7x₹216 cr27.1%53.0%0.0x
2026-0313.5x₹216 cr27.1%53.0%0.0x
2026-0212.0x₹215 cr27.1%53.0%0.0x
2026-0112.7x₹215 cr27.1%53.0%0.0x
2025-1215.0x₹215 cr27.1%53.0%0.0x
2025-1115.6x₹219 cr28.7%53.0%0.0x
2025-1017.3x₹219 cr28.7%53.0%0.0x
2025-0915.7x₹219 cr28.7%53.0%0.0x
2025-0814.2x₹243 cr33.5%53.0%0.0x
2025-0718.8x₹243 cr33.5%53.0%0.0x
2025-0614.9x₹243 cr33.5%53.0%0.0x
2025-0515.4x₹237 cr48.8%35.0%0.0x
2025-0414.6x₹237 cr48.8%35.0%0.0x
2025-0312.6x₹237 cr48.8%35.0%0.0x
2025-0214.8x₹207 cr42.5%35.0%0.0x
2025-0120.9x₹207 cr42.5%35.0%0.0x
2024-1222.0x₹207 cr42.5%35.0%0.0x
2024-1131.4x₹171 cr31.5%35.0%0.0x
2024-1030.5x₹171 cr31.5%35.0%0.0x
2024-0930.7x₹171 cr31.5%35.0%0.0x
2024-0842.9x₹149 cr22.8%35.0%0.0x
2024-0738.0x₹149 cr22.8%35.0%0.0x
2024-0628.8x₹149 cr22.8%35.0%0.0x
2024-0570.4x₹109 cr12.2%21.0%0.0x
2024-0455.9x₹109 cr12.2%21.0%0.0x
2024-0347.5x₹109 cr12.2%21.0%0.0x
2024-0250.1x₹109 cr12.2%21.0%0.0x
2024-0153.1x₹109 cr12.2%21.0%0.0x
2023-1254.0x₹109 cr12.2%21.0%0.0x
2023-1156.0x₹109 cr12.2%21.0%0.0x
2023-1058.7x₹109 cr12.2%21.0%0.0x
2023-0945.8x₹109 cr12.2%21.0%0.0x
2023-0841.5x₹109 cr12.2%21.0%0.0x
2023-0740.7x₹109 cr12.2%21.0%0.0x
2023-0639.3x₹109 cr12.2%21.0%0.0x
2023-05—₹34 cr-12.0%-12.0%0.1x
2023-04—₹34 cr-12.0%-12.0%0.1x
2023-03—₹34 cr-12.0%-12.0%0.1x
2023-02—₹34 cr-12.0%-12.0%0.1x
2023-01—₹34 cr-12.0%-12.0%0.1x
2022-12—₹34 cr-12.0%-12.0%0.1x
2022-11—₹34 cr-12.0%-12.0%0.1x
2022-10—₹34 cr-12.0%-12.0%0.1x
2022-09—₹34 cr-12.0%-12.0%0.1x
2022-08—₹34 cr-12.0%-12.0%0.1x
2022-07—₹34 cr-12.0%-12.0%0.1x
2022-06—₹34 cr-12.0%-12.0%0.1x
2022-0521.1x₹52 cr8.3%7.0%0.1x
2022-0424.8x₹52 cr8.3%7.0%0.1x
2022-0323.0x₹52 cr8.3%7.0%0.1x
2022-0220.4x₹52 cr8.3%7.0%0.1x
2022-0127.9x₹52 cr8.3%7.0%0.1x
2021-1227.3x₹52 cr8.3%7.0%0.1x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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