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ARVIND SMARTSPACES LIMITED (ARVSMART)

Finance · Real Estate Development · 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.63 / 100
Profitability 65Growth 91Balance sheet 34
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.37 / 100
Price 43Earnings 63FII/DII 4
Compare withDLFLODHA DEVELOPERSPHOENIX MILLS

Share price

Closing priceAdjusted for splits and bonus issues.

₹602.55 latest close · −1.3% over the last 90 sessions

₹550₹600₹650₹700Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹550₹600₹650₹700Jul 3Sep 4Nov 9

₹602.55 month-end · +1.4% over 12 months

₹500₹550₹600₹650Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹500₹550₹600₹650Nov '25May '26Nov '26

₹602.55 month-end · +56.5% over 3 years

₹400₹600₹800₹1,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600₹800₹1,000Nov '23May '25Nov '26

₹602.55 month-end · +383.4% since Jan '19

₹0₹500₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹500₹1,000Jan '19Dec '22Nov '26

52-week range ₹486.80 to ₹707.85 · 1-year volatility 34.8%

Was the rally earned?

+1%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (+1%).
  • The share count fell 6%.
Net profit growth: +38 pts. Points of the price return explained by net profit growing (or shrinking).+38 ptsNet profit growthP/E change: −42 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−42 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +1%+1%Share priceNet profit growth: +38 pts. Points of the price return explained by net profit growing (or shrinking).+38ProfitP/E change: −42 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−42P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +1%+1%Share price
Net profit growth+38 ptsNet profit rose about 45%, which lifts the price.
P/E change-42 ptsThe P/E fell from 22.8x to 15.0x, which lowers the price.
Share count change+6 ptsShare count fell 6%, which lifts the price.
+57%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 247 points, but investors now pay less per rupee of profit (P/E 68.2x to 15.0x), which took 191 points back.
  • The share count fell 7%.
Net profit growth: +238 pts. Points of the price return explained by net profit growing (or shrinking).+238 ptsNet profit growthP/E change: −191 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−191 ptsP/E changeShare count change: +10 pts. Points of the price return explained by the share count changing. More shares count against the price.+10 ptsShare count changeShare price: +57%+57%Share priceNet profit growth: +238 pts. Points of the price return explained by net profit growing (or shrinking).+238ProfitP/E change: −191 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−191P/EShare count change: +10 pts. Points of the price return explained by the share count changing. More shares count against the price.+10SharesShare price: +57%+57%Share price
Net profit growth+238 ptsNet profit rose about 559%, which lifts the price.
P/E change-191 ptsThe P/E fell from 68.2x to 15.0x, which lowers the price.
Share count change+10 ptsShare count fell 7%, which lifts the price.
+214%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 522 points, but investors now pay less per rupee of profit (P/E 78.0x to 15.0x), which took 308 points back.
  • The share count rose 26%.
Net profit growth: +565 pts. Points of the price return explained by net profit growing (or shrinking).+565 ptsNet profit growthP/E change: −308 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−308 ptsP/E changeShare count change: −42 pts. Points of the price return explained by the share count changing. More shares count against the price.−42 ptsShare count changeShare price: +214%+214%Share priceNet profit growth: +565 pts. Points of the price return explained by net profit growing (or shrinking).+565ProfitP/E change: −308 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−308P/EShare count change: −42 pts. Points of the price return explained by the share count changing. More shares count against the price.−42SharesShare price: +214%+214%Share price
Net profit growth+565 ptsNet profit rose about 1949%, which lifts the price.
P/E change-308 ptsThe P/E fell from 78.0x to 15.0x, which lowers the price.
Share count change-42 ptsShare count rose 26%, 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 DLF

How rough has the ride been?

Maximum drawdown-55.4%recovered 2021-09
1-year volatility34.8%annualised
Beta vs sector index1.103-year daily, correlation 0.46
Volume spikes9last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−54.7% 0%−20%−40%2020202220242026−54.7%
Largest drawdowns

-55.4% (2019-04 peak to 2020-05 low, recovered 2021-09)

-50.2% (2024-11 peak to 2026-03 low, not yet recovered)

-39.5% (2022-01 peak to 2022-06 low, recovered 2022-09)

Most recent volume spikes

2026-09-23: 115.2x the 50-day median, price +7.8% that day

2026-09-15: 5.1x the 50-day median, price -5.7% that day

2026-08-24: 10.7x the 50-day median, price +4.2% 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?

15.0xP/E todayWithin its usual range
Against its own history34th percentile
CheapestMedian 31.4xDearest

Usual range 8.7x to 86.0x since 2019-01.

Against Finance15.0x vs 18.1x
This company
15.0x
Sector median
18.1x

17% below the Finance median.

6.7x48.1x89.5x130.8xJan '19Aug '20Mar '22Oct '23May '25Nov '266.7x48.1x89.5x130.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianFinance 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 Finance is valued

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).

Where it ranks today

  • ROCE62nd▼ 12 pts vs a year ago
  • Op. margin67th▲ 34 pts vs a year ago
  • Revenue growth39th▼ 57 pts vs a year ago
  • EPS growth84th▼ 12 pts vs a year ago
  • Debt/equity ↓20th▼ 10 pts vs a year ago
  • Cash cycle ↓67th▼ 6 pts vs a year ago
  • P/E ↓66th▲ 12 pts vs a year ago
  • 12M momentum71st▲ 60 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

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

At normalised P/E (five-year average earnings) of 43.2x, a holder earning 12%/yr needs earnings to grow about 23.2%/yr for 10 years, then trade at 15x.

Delivered12.3%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+10.9 ptsimplied minus delivered
Rank308thmost demanding of 856

Over time

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

-9%18%45% Jan 2019Nov 2026 -9%18%45% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.6%25.8%26.9%
15x22.1%23.2%24.3%
20x18.8%19.9%21.0%

Drag a slider to test other assumptions

Implied: 23.2%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 14%/yr (7.0 yrs)
  • Jan 2021Price implied 6%/yr; EPS has since grown 12%/yr (6.0 yrs)
  • Jan 2022Price implied 21%/yr; EPS has since grown 55%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹602.55
P/E
15.0x
ROCE
12.0%
Market Cap
₹2766 cr
Revenue (TTM)
₹780 cr
P/S
3.5x
P/B
4.3x
ROE
28.4%
Operating Margin
49.0%
Debt / Equity
0.9x
Promoter Holding
53.8%
12M Momentum
1.4%

52-week range

₹486.80₹707.85
52% of the way from its 52-week low to its high

Price risk

1Y volatility
34.8%
Beta vs sector
1-year daily
0.86

Balance sheet & cash

Interest cover
operating profit ÷ interest
6.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.82x
low
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 6checks within range2 beyond a threshold
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 28.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.82xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.82x (cash from operations ₹-224 cr, net profit ₹273 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (10 vs 4). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress103% of fixed assetsBeyond threshold

Capital work-in-progress is 103% 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.

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 added 3.3 pts; DIIs trimmed 2.6 pts.
  • The number of shareholders rose from 87,548 to 92,477 (+6%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters50.5%53.8%+3.3 pts
FIIs0.8%0.7%-0.2 pts
DIIs11.6%9.0%-2.6 pts
Public and others37.0%36.5%-0.5 pts

Number of shareholders

92,477shareholders+6% since Sep '23
88k91k94k97k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 87,548
Dec '23: 89,484
Mar '24: 91,912
Jun '24: 91,031
Sep '24: 91,803
Dec '24: 92,640
Mar '25: 94,203
Jun '25: 96,519
Sep '25: 96,261
Dec '25: 94,382
Mar '26: 93,140
Jun '26: 92,477
 88k91k94k97k Sep '23Sep '24Sep '25Jun '26
Sep '23: 87,548
Dec '23: 89,484
Mar '24: 91,912
Jun '24: 91,031
Sep '24: 91,803
Dec '24: 92,640
Mar '25: 94,203
Jun '25: 96,519
Sep '25: 96,261
Dec '25: 94,382
Mar '26: 93,140
Jun '26: 92,477

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

−4.3%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 ARVIND SMARTSPACES 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 −28% to +23% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (−3.5%, 80% range −9.8% to +6.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ESTER · Oct 2022: −51.8% vs market
PNCINFRA · May 2024: −46.4% vs market
VRLLOG · Dec 2023: −44.2% vs market
RAMCOCEM · May 2023: −42.8% vs market
AARTIDRUGS · Jul 2023: −41.8% vs market
STLTECH · Nov 2021: −41.3% vs market
BAJAJHCARE · Jan 2023: −40.5% vs market
XCHANGING · Oct 2025: −36.2% vs market
NLCINDIA · Mar 2020: −36.1% vs market
AJMERA · Oct 2025: −34.6% vs market
BIRLACORPN · Sep 2021: −33.7% vs market
EPL · Jul 2023: −32.8% vs market
CESC · May 2020: −28.9% vs market
JKLAKSHMI · May 2021: −24.3% vs market
GATEWAY · Aug 2023: −21.1% vs market
SHK · Dec 2022: −19.6% vs market
POKARNA · Sep 2024: −19.3% vs market
HINDWAREAP · Jan 2023: −17.0% vs market
VTL · Aug 2021: −15.8% vs market
TORNTPOWER · Dec 2021: −14.2% vs market
ROHLTD · May 2025: −8.7% vs market
GPTHEALTH · May 2025: −8.4% vs market
SATIA · Apr 2022: −8.3% vs market
GOCLCORP · Jul 2021: −7.4% vs market
SANSERA · Feb 2023: −5.7% vs market
CANTABIL · Apr 2025: −3.0% vs market
GRANULES · Nov 2022: +1.0% vs market
BANARISUG · May 2022: +1.7% vs market
MMFL · Mar 2022: +4.5% vs market
JMFINANCIL · Dec 2022: +8.3% vs market
BALRAMCHIN · Oct 2023: +9.1% vs market
MARATHON · Jun 2024: +11.0% vs market
NRBBEARING · Sep 2021: +11.3% vs market
GANECOS · Aug 2023: +18.0% vs market
SUDARSCHEM · May 2023: +18.1% vs market
GREENPLY · May 2024: +20.7% vs market
ARIHANTSUP · Jan 2024: +22.6% vs market
JKPAPER · Jul 2021: +23.4% vs market
EPIGRAL · Jul 2024: +24.3% vs market
KNRCON · May 2020: +25.7% vs market
ASTERDM · Jun 2022: +31.1% vs market
GESHIP · Sep 2022: +35.1% vs market
CCL · Jun 2022: +44.3% vs market
FSL · Feb 2024: +75.3% vs market
HIKAL · Jan 2021: +81.6% vs market
TRIDENT · Mar 2020: +84.0% vs market
MOTILALOFS · Aug 2023: +112.6% vs market
SMSPHARMA · Apr 2020: +115.8% vs market
JSWENERGY · May 2021: +117.4% vs market
SJVN · Jun 2023: +119.7% vs market
Similar setups −4.3%All companies −0.8%← 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
−4.3%
All companies' median
−0.8%
Beat the market
48% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JKPAPER
Process Industries		 Jul 2021 18x10% +177%−1% +23%
GREENPLY
Producer Manufacturing		 May 2024 34x11% +63%−8% +21%
GATEWAY
Non-Energy Minerals		 Aug 2023 17x13% +26%−4% −21%
ESTER
Process Industries		 Oct 2022 11x14% +29%−5% −52%
CESC
Utilities		 May 2020 6x14% −26%−34% −29%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BIRLACORPN
Non-Energy Minerals		 Sep 2021 18x12% +116%−4% −34%
EPIGRAL
Process Industries		 Jul 2024 37x17% +82%−2% +24%
MOTILALOFS
Finance		 Aug 2023 15x13% +20%−3% +113%
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 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 ARVIND SMARTSPACES 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.

SAMHI HOTELSSAMHI
Consumer Services
64%similar
debt/equitymarket cap
SWELECT ENERGY SYSTEMSSWELECTES
Producer Manufacturing
64%similar
EPS growthdebt/equity
KPI GREEN ENERGYKPIGREEN
Utilities
55%similar
P/Erevenue growth
STYRENIX PERFOM. MATERIALSSTYRENIX
Process Industries
55%similar
EPS growthmarket cap
AURUM PROPTECHAURUM
Technology Services
52%similar
revenue growthvolatility
SUNTECK REALTYSUNTECK
Finance
58%similar
revenue growthEPS growth
INDIQUBE SPACESINDIQUBE
Finance
55%similar
operating marginmarket cap
AJMERA REALTY & INFRA INDIA LIAJMERA
Finance
50%similar
market caprevenue growth

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

What changed?

30 events since Jul '23

  1. SepResultsYear-on-year EPS growth turned positive.
  2. SepPeer rankMoved into the top quartile of Finance on EPS growth (from the 3rd quartile).
  3. AugPriceVolume reached 325.6x its 50-day median on 2026-08-07; price +7.9% that day.
  4. JunPromoterPromoter holding rose 4.0 pts to 53.8% (largest rise in the history since 2019-01).
  5. JunInstitutionsFII + DII holding fell 7.4 pts over 1 quarter to 9.3%.
  6. JunPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  7. JunDividendDividend payout cut from 25% to 11% of profit.
  8. AprPriceVolume reached 187.0x its 50-day median on 2026-04-08; price +11.0% that day.
Show 22 earlier events
  1. MarResultsYear-on-year EPS growth turned negative.
  2. MarPriceFell 50% from the Nov 2024 peak to the Mar 2026 low.
  3. MarPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the top quartile).
  4. MarPriceVolume reached 161.5x its 50-day median on 2026-03-10; price +5.9% that day.
  5. DecPriceVolume reached 5.6x its 50-day median on 2025-12-16; price +3.2% that day.
  6. NovPeer rankSlipped to the 2nd quartile of Finance on ROCE (from the top quartile).
  7. JulPriceVolume reached 21.4x its 50-day median on 2025-07-28; price -0.4% that day.
  8. JunPeer rankMoved into the top quartile of Finance on ROCE (from the 2nd quartile).
  9. JunPriceVolume reached 18.1x its 50-day median on 2025-06-06; price +2.7% that day.
  10. DecPeer rankMoved into the top quartile of Finance on EPS growth (from the 2nd quartile).
  11. OctPriceVolume reached 10.3x its 50-day median on 2024-10-28; price +8.2% that day.
  12. SepValuationP/E crossed above the 90th percentile of its own history to date (102.8x).
  13. SepPriceVolume reached 41.8x its 50-day median on 2024-09-24; price +14.8% that day.
  14. JulPriceRegained the 2024-04 peak, 1 month after the low.
  15. JunResultsYear-on-year EPS growth turned positive.
  16. JunPriceFell 28% from the Apr 2024 peak to the Jun 2024 low.
  17. MayPriceVolume reached 8.6x its 50-day median on 2024-05-07; price +3.8% that day.
  18. MarPriceVolume reached 15.6x its 50-day median on 2024-03-27; price +10.8% that day.
  19. JanValuationP/E crossed above the 90th percentile of its own history to date (94.8x).
  20. DecPriceVolume reached 16.0x its 50-day median on 2023-12-01; price +8.5% that day.
  21. AugPriceVolume reached 26.8x its 50-day median on 2023-08-01; price +15.1% that day.
  22. JulSharesShare 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
2026-1115.0x₹780 cr28.4%12.0%0.9x
2026-1014.0x₹780 cr29.0%12.0%0.9x
2026-0915.0x₹780 cr29.0%12.0%0.9x
2026-0831.6x₹564 cr15.9%12.0%0.9x
2026-0728.2x₹564 cr15.9%12.0%0.9x
2026-0628.6x₹564 cr15.9%12.0%0.9x
2026-0537.1x₹572 cr13.5%19.0%0.5x
2026-0438.6x₹572 cr13.5%19.0%0.5x
2026-0331.4x₹572 cr13.5%19.0%0.5x
2026-0227.1x₹616 cr17.1%19.0%0.5x
2026-0126.3x₹616 cr17.1%19.0%0.5x
2025-1229.3x₹616 cr17.1%19.0%0.5x
2025-1122.8x₹741 cr21.2%19.0%0.5x
2025-1024.5x₹741 cr21.2%19.0%0.5x
2025-0925.1x₹741 cr21.2%19.0%0.5x
2025-0824.3x₹713 cr20.1%19.0%0.5x
2025-0725.7x₹713 cr20.1%19.0%0.5x
2025-0627.8x₹713 cr20.1%19.0%0.5x
2025-0528.6x₹667 cr23.9%16.0%0.2x
2025-0427.9x₹667 cr23.9%16.0%0.2x
2025-0330.1x₹667 cr23.9%16.0%0.2x
2025-0245.0x₹541 cr16.2%16.0%0.2x
2025-0152.8x₹541 cr16.2%16.0%0.2x
2024-1257.7x₹541 cr16.2%16.0%0.2x
2024-11124.1x₹348 cr9.7%16.0%0.2x
2024-10116.3x₹348 cr9.7%16.0%0.2x
2024-09102.8x₹348 cr9.7%16.0%0.2x
2024-0881.0x₹341 cr10.5%16.0%0.2x
2024-0782.7x₹341 cr10.5%16.0%0.2x
2024-0676.6x₹341 cr10.5%16.0%0.2x
2024-05112.5x₹256 cr6.0%9.0%0.3x
2024-04130.8x₹256 cr6.0%9.0%0.3x
2024-03123.5x₹256 cr6.0%9.0%0.3x
2024-02109.2x₹256 cr6.0%9.0%0.3x
2024-0194.8x₹256 cr6.0%9.0%0.3x
2023-1276.1x₹256 cr6.0%9.0%0.3x
2023-1168.2x₹256 cr6.0%9.0%0.3x
2023-1057.0x₹256 cr6.0%9.0%0.3x
2023-0961.4x₹256 cr6.0%9.0%0.3x
2023-0859.9x₹256 cr6.0%9.0%0.3x
2023-0761.9x₹256 cr6.0%9.0%0.3x
2023-0660.9x₹256 cr6.0%9.0%0.3x
2023-0556.0x₹257 cr5.7%10.0%0.1x
2023-0453.4x₹257 cr5.7%10.0%0.1x
2023-0347.9x₹257 cr5.7%10.0%0.1x
2023-0243.5x₹257 cr5.7%10.0%0.1x
2023-0150.0x₹257 cr5.7%10.0%0.1x
2022-1254.8x₹257 cr5.7%10.0%0.1x
2022-1145.3x₹257 cr5.7%10.0%0.1x
2022-1042.3x₹257 cr5.7%10.0%0.1x
2022-0941.7x₹257 cr5.7%10.0%0.1x
2022-0838.8x₹257 cr5.7%10.0%0.1x
2022-0732.2x₹257 cr5.7%10.0%0.1x
2022-0626.7x₹257 cr5.7%10.0%0.1x
2022-0567.7x₹149 cr2.9%8.0%0.6x
2022-0479.5x₹149 cr2.9%8.0%0.6x
2022-0383.3x₹149 cr2.9%8.0%0.6x
2022-0279.2x₹149 cr2.9%8.0%0.6x
2022-0198.2x₹149 cr2.9%8.0%0.6x
2021-1287.7x₹149 cr2.9%8.0%0.6x

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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