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AUROBINDO PHARMA LTD (AUROPHARMA)

Health Technology · Pharmaceuticals: Other · 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 54Growth 65Balance sheet 71
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.64 / 100
Price 85Earnings 49FII/DII 59

Passes these screensCash RichNear 52-week high

Compare withCIPLALUPINGRANULES INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,855.3 latest close · +14.5% over the last 90 sessions

₹1,500₹1,600₹1,700₹1,800Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,500₹1,600₹1,700₹1,800Jul 3Sep 4Nov 9

₹1,855.3 month-end · +51.2% over 12 months

₹1,250₹1,500₹1,750Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,250₹1,500₹1,750Nov '25May '26Nov '26

₹1,855.3 month-end · +78.1% over 3 years

₹1,000₹1,250₹1,500₹1,750Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹1,250₹1,500₹1,750Nov '23May '25Nov '26

₹1,855.3 month-end · +135.5% since Jan '19

₹500₹1,000₹1,500₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500₹2,000Jan '19Dec '22Nov '26

52-week range ₹1106.00 to ₹1856.10 · 1-year volatility 26.5%

Was the rally earned?

+51%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 21.0x to 28.9x); per-share earnings added 12 points.
  • The share count barely moved.
Net profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11 ptsNet profit growthP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +51%+51%Share priceNet profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11ProfitP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +51%+51%Share price
Net profit growth+11 ptsNet profit rose about 9%, which lifts the price.
P/E change+40 ptsThe P/E rose from 21.0x to 28.9x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+78%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 90 points, but investors now pay less per rupee of profit (P/E 31.7x to 28.9x), which took 12 points back.
  • The share count barely moved.
Net profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88 ptsNet profit growthP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: +78%+78%Share priceNet profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88ProfitP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +78%+78%Share price
Net profit growth+88 ptsNet profit rose about 91%, which lifts the price.
P/E change-12 ptsThe P/E fell from 31.7x to 28.9x, which lowers the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
+181%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 7.3x to 28.9x); per-share earnings took off 61 points.
  • The share count barely moved.
Net profit growth: −65 pts. Points of the price return explained by net profit growing (or shrinking).−65 ptsNet profit growthP/E change: +243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+243 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: +181%+181%Share priceNet profit growth: −65 pts. Points of the price return explained by net profit growing (or shrinking).−65ProfitP/E change: +243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+243P/EShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3SharesShare price: +181%+181%Share price
Net profit growth-65 ptsNet profit fell about 31%, which lowers the price.
P/E change+243 ptsThe P/E rose from 7.3x to 28.9x, which lifts the price.
Share count change+3 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 CIPLA

How rough has the ride been?

Maximum drawdown-64.5%recovered 2020-07
1-year volatility26.5%annualised
Beta vs sector index1.073-year daily, correlation 0.57
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−61.4% 0%−20%−40%−60%2020202220242026−61.4%
Largest drawdowns

-64.5% (2019-04 peak to 2020-03 low, recovered 2020-07)

-61.4% (2021-05 peak to 2023-02 low, recovered 2023-11)

-34.9% (2024-08 peak to 2025-09 low, recovered 2026-06)

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?

28.9xP/E todayNear its historic high
Against its own history92nd percentile
CheapestMedian 18.5xDearest

Usual range 8.5x to 28.2x since 2019-01.

Against Health Technology28.9x vs 37.0x
This company
28.9x
Sector median
37.0x

22% below the Health Technology median.

5.8x18.4x31.0x43.5xJan '19Aug '20Mar '22Oct '23May '25Nov '265.8x18.4x31.0x43.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

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

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

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

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

All terms explained in the glossary →

How Health Technology is valued

Where does it rank among Health Technology peers?

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

  • ROCE45thflat vs a year ago
  • Op. margin63rdflat vs a year ago
  • Revenue growth38th▼ 11 pts vs a year ago
  • EPS growth53rd▲ 17 pts vs a year ago
  • Debt/equity ↓54th▲ 11 pts vs a year ago
  • Cash cycle ↓24th▲ 3 pts vs a year ago
  • P/E ↓64th▼ 11 pts vs a year ago
  • 12M momentum78th▲ 13 pts vs a year ago

Rank history

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

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

The Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~22%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 36.5x, a holder earning 12%/yr needs earnings to grow about 22.0%/yr for 10 years, then trade at 15x.

Delivered5.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+16.5 ptsimplied minus delivered
Rank209thmost demanding of 856

Over time

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

0%11%22% Jan 2019Nov 2026 0%11%22% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x23.5%24.6%25.8%
15x20.9%22.0%23.0%
20x17.5%18.6%19.6%

Drag a slider to test other assumptions

Implied: 22.0%/yr

Looking back

  • Jan 2020Price implied 9%/yr; EPS has since grown 6%/yr (7.0 yrs)
  • Jan 2021Price implied 14%/yr; EPS has since grown 4%/yr (6.0 yrs)
  • Jan 2022Price implied 9%/yr; EPS has since grown −8%/yr (5.0 yrs)

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

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

What prices imply across Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1855.30
P/E
28.9x
ROCE
13.0%
Market Cap
₹1.07L cr
Revenue (TTM)
₹34935 cr
P/S
3.1x
P/B
2.8x
ROE
9.7%
Operating Margin
21.0%
Debt / Equity
0.2x
Promoter Holding
51.9%
12M Momentum
51.2%

52-week range

₹1106.00₹1856.10
100% of the way from its 52-week low to its high

Price risk

1Y volatility
26.5%
Beta vs sector
1-year daily
1.02

Balance sheet & cash

Interest cover
operating profit ÷ interest
15.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.17x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance11%Within range

Other income as a share of pre-tax profit (trailing twelve months): 10.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate32%Within range

Median quarterly effective tax rate over about 2.5 years: 32.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.17xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.17x (cash from operations ₹11,886 cr, net profit ₹10,156 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+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (77 vs 66). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress30% of fixed assetsWithin range

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

Payable days+22 days / 2 yrsWithin range

Days payable changed by +22 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, DIIs added 6.8 pts; FIIs trimmed 6.1 pts.
  • The number of shareholders fell from 2.6 lakh to 2.4 lakh (-8%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters51.8%51.9%0.0 pts
FIIs22.4%16.4%-6.1 pts
DIIs18.3%25.1%+6.8 pts
Public and others7.4%6.6%-0.8 pts

Number of shareholders

2.4 lakhshareholders-8% since Sep '23
2.4L2.5L2.6L2.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.6 lakh
Dec '23: 2.4 lakh
Mar '24: 2.4 lakh
Jun '24: 2.4 lakh
Sep '24: 2.5 lakh
Dec '24: 2.6 lakh
Mar '25: 2.7 lakh
Jun '25: 2.7 lakh
Sep '25: 2.5 lakh
Dec '25: 2.4 lakh
Mar '26: 2.4 lakh
Jun '26: 2.4 lakh
 2.4L2.5L2.6L2.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.6 lakh
Dec '23: 2.4 lakh
Mar '24: 2.4 lakh
Jun '24: 2.4 lakh
Sep '24: 2.5 lakh
Dec '24: 2.6 lakh
Mar '25: 2.7 lakh
Jun '25: 2.7 lakh
Sep '25: 2.5 lakh
Dec '25: 2.4 lakh
Mar '26: 2.4 lakh
Jun '26: 2.4 lakh

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−12.5%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 AUROBINDO PHARMA LTD 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 −23% to +7% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (−6.2%, 80% range −13.1% to +0.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−40%−20%0%+20%+40%+60%+80%
CCL · May 2023: −37.1% vs market
DALBHARAT · Jun 2021: −32.2% vs market
NHPC · Mar 2020: −31.8% vs market
HSCL · Sep 2024: −27.8% vs market
BSOFT · Nov 2023: −27.5% vs market
EXIDEIND · Apr 2024: −26.7% vs market
WIPRO · Jan 2025: −26.5% vs market
GRANULES · Aug 2024: −25.7% vs market
CROMPTON · Aug 2024: −25.0% vs market
TORNTPOWER · Apr 2020: −24.9% vs market
SUNDRMFAST · Jun 2023: −24.1% vs market
TATACHEM · Feb 2020: −23.4% vs market
BALKRISIND · Feb 2025: −22.8% vs market
JKCEMENT · Jul 2025: −22.4% vs market
CONCOR · Oct 2022: −21.4% vs market
MRF · Mar 2020: −21.3% vs market
IPCALAB · Dec 2024: −20.7% vs market
STARCEMENT · Jul 2025: −19.6% vs market
SHREECEM · Feb 2025: −19.0% vs market
HEROMOTOCO · May 2024: −17.9% vs market
SRF · Jun 2025: −15.7% vs market
LUPIN · Dec 2024: −15.2% vs market
DRREDDY · Apr 2023: −14.8% vs market
ULTRACEMCO · Mar 2023: −13.9% vs market
GODREJCP · Mar 2023: −13.0% vs market
KPRMILL · Apr 2025: −12.0% vs market
ALKEM · Dec 2023: −7.9% vs market
ENDURANCE · Aug 2025: −7.1% vs market
CIPLA · Apr 2020: −3.3% vs market
RALLIS · Jan 2020: −2.9% vs market
RADICO · Mar 2023: −2.7% vs market
AMBUJACEM · Oct 2020: −2.4% vs market
SHYAMMETL · Jul 2025: −0.8% vs market
TECHM · Jan 2025: −0.1% vs market
CYIENT · Apr 2023: +3.6% vs market
BOSCHLTD · Mar 2023: +4.3% vs market
JINDALSTEL · Sep 2025: +6.1% vs market
CIEINDIA · Dec 2022: +7.7% vs market
USHAMART · Sep 2025: +8.0% vs market
VOLTAS · Feb 2020: +10.2% vs market
SIEMENS · Apr 2023: +14.6% vs market
RATNAMANI · Jan 2023: +15.8% vs market
TEGA · Mar 2023: +19.1% vs market
POLYCAB · Apr 2023: +19.6% vs market
GLENMARK · Jun 2025: +25.4% vs market
ZYDUSLIFE · Jun 2023: +25.7% vs market
GLAND · Sep 2025: +44.8% vs market
GALLANTT · Mar 2025: +47.9% vs market
FORTIS · Oct 2024: +59.6% vs market
JYOTHYLAB · Jan 2023: +80.7% vs market
Similar setups −12.5%All companies −6.3%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median
−12.5%
All companies' median
−6.3%
Beat the market
32% vs 43%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MRF
Consumer Durables		 Mar 2020 22x15% 0%−21% −21%
ZYDUSLIFE
Health Technology		 Jun 2023 30x15% +63%0% +26%
LUPIN
Health Technology		 Dec 2024 41x16% +78%0% −15%
CIPLA
Health Technology		 Apr 2020 31x11% +4%−3% −3%
DRREDDY
Health Technology		 Apr 2023 38x14% +19%0% −15%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ULTRACEMCO
Non-Energy Minerals		 Mar 2023 29x14% +16%0% −14%
WIPRO
Technology Services		 Jan 2025 27x17% +33%−1% −27%
TATACHEM
Process Industries		 Feb 2020 16x9% +28%−7% −23%
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: P/S, ROCE and interest cover. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 AUROBINDO PHARMA LTD. 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.

ULTRATECH CEMENTULTRACEMCO
Non-Energy Minerals
78%similar
ROCErevenue
BALKRISHNA INDUSTRIESBALKRISIND
Consumer Durables
66%similar
operating marginP/E
FORTIS HEALTHCAREFORTIS
Health Services
66%similar
operating marginROCE
SAGILITYSAGILITY
Technology Services
64%similar
ROCEoperating margin
VARUN BEVERAGESVBL
Consumer Non-Durables
62%similar
revenuemarket cap
ALKEM LABORATORIESALKEM
Health Technology
72%similar
P/Eoperating margin
IPCA LABORATORIESIPCALAB
Health Technology
70%similar
market capoperating margin
GRANULES INDIAGRANULES
Health Technology
64%similar
P/Eoperating margin

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

What changed?

30 events since Jun '21

  1. SepPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  2. AugValuationP/E crossed above the 90th percentile of its own history to date (28.5x).
  3. JunPriceRegained the 2024-08 peak, 9 months after the low.
  4. JunDividendStarted paying a dividend (payout 7% of profit).
  5. MarResultsYear-on-year EPS growth turned positive.
  6. FebPriceVolume reached 12.1x its 50-day median on 2026-02-10; price -6.6% that day.
  7. SepResultsYear-on-year EPS growth turned negative.
  8. SepPriceFell 35% from the Aug 2024 peak to the Sep 2025 low.
Show 22 earlier events
  1. SepPriceVolume reached 6.2x its 50-day median on 2025-09-11; price +5.6% that day.
  2. JunPeer rankSlipped to the 3rd quartile of Health Technology on ROCE (from the 2nd quartile).
  3. JunDividendDividend payout cut from 8% to 0% of profit.
  4. AprPriceVolume reached 9.8x its 50-day median on 2025-04-03; price +1.6% that day.
  5. AugPeer rankMoved into the 2nd quartile of Health Technology on ROCE (from the 3rd quartile).
  6. JunResultsYear-on-year EPS growth turned positive.
  7. JunPeer rankMoved into the top quartile of Health Technology on EPS growth (from the 3rd quartile).
  8. JunDividendDividend payout cut from 23% to 8% of profit.
  9. FebPriceVolume reached 5.5x its 50-day median on 2024-02-01; price -6.9% that day.
  10. NovPriceRegained the 2021-05 peak, 9 months after the low.
  11. JunResultsRevenue (TTM) reached a new high of ₹24,855 cr.
  12. JunValuationP/E crossed above the 90th percentile of its own history to date (22.1x).
  13. JunPeer rankMoved into the 3rd quartile of Health Technology on EPS growth (from the bottom quartile).
  14. MayPriceVolume reached 5.9x its 50-day median on 2023-05-30; price +6.5% that day.
  15. FebPriceFell 61% from the May 2021 peak to the Feb 2023 low.
  16. FebPriceVolume reached 8.0x its 50-day median on 2023-02-10; price +6.3% that day.
  17. NovPriceVolume reached 14.3x its 50-day median on 2022-11-10; price -11.7% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunPeer rankSlipped to the 3rd quartile of Health Technology on ROCE (from the 2nd quartile).
  20. NovPriceVolume reached 5.3x its 50-day median on 2021-11-09; price +0.7% that day.
  21. AugPriceVolume reached 13.4x its 50-day median on 2021-08-13; price -7.9% that day.
  22. JunResultsRevenue (TTM) reached a new high of ₹24,775 cr.

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
2026-1128.9x₹34935 cr9.7%13.0%0.2x
2026-1026.2x₹34935 cr9.8%13.0%0.2x
2026-0926.1x₹34935 cr9.8%13.0%0.2x
2026-0828.5x₹33653 cr9.2%13.0%0.2x
2026-0726.2x₹33653 cr9.2%13.0%0.2x
2026-0626.2x₹33653 cr9.2%13.0%0.2x
2026-0523.8x₹33182 cr10.7%14.0%0.3x
2026-0423.1x₹33182 cr10.7%14.0%0.3x
2026-0321.7x₹33182 cr10.7%14.0%0.3x
2026-0220.7x₹32515 cr10.5%14.0%0.3x
2026-0120.5x₹32515 cr10.5%14.0%0.3x
2025-1220.1x₹32515 cr10.5%14.0%0.3x
2025-1121.0x₹32025 cr10.4%14.0%0.3x
2025-1019.5x₹32025 cr10.4%14.0%0.3x
2025-0918.6x₹32025 cr10.4%14.0%0.3x
2025-0817.2x₹31724 cr10.7%14.0%0.3x
2025-0719.0x₹31724 cr10.7%14.0%0.3x
2025-0619.0x₹31724 cr10.7%14.0%0.3x
2025-0519.2x₹30922 cr11.7%14.0%0.2x
2025-0420.5x₹30922 cr11.7%14.0%0.2x
2025-0319.4x₹30922 cr11.7%14.0%0.2x
2025-0217.3x₹30295 cr12.0%14.0%0.2x
2025-0119.1x₹30295 cr12.0%14.0%0.2x
2024-1221.8x₹30295 cr12.0%14.0%0.2x
2024-1121.0x₹29718 cr11.8%14.0%0.2x
2024-1023.2x₹29718 cr11.8%14.0%0.2x
2024-0924.3x₹29718 cr11.8%14.0%0.2x
2024-0829.0x₹29002 cr10.6%14.0%0.2x
2024-0726.5x₹29002 cr10.6%14.0%0.2x
2024-0622.3x₹29002 cr10.6%14.0%0.2x
2024-0536.0x₹24855 cr7.2%9.0%0.2x
2024-0435.1x₹24855 cr7.2%9.0%0.2x
2024-0333.1x₹24855 cr7.2%9.0%0.2x
2024-0231.2x₹24855 cr7.2%9.0%0.2x
2024-0135.0x₹24855 cr7.2%9.0%0.2x
2023-1232.9x₹24855 cr7.2%9.0%0.2x
2023-1131.7x₹24855 cr7.2%9.0%0.2x
2023-1025.8x₹24855 cr7.2%9.0%0.2x
2023-0927.8x₹24855 cr7.2%9.0%0.2x
2023-0825.2x₹24855 cr7.2%9.0%0.2x
2023-0725.0x₹24855 cr7.2%9.0%0.2x
2023-0622.1x₹24855 cr7.2%9.0%0.2x
2023-0514.6x₹23455 cr10.8%13.0%0.1x
2023-0413.7x₹23455 cr10.8%13.0%0.1x
2023-0311.5x₹23455 cr10.8%13.0%0.1x
2023-0210.2x₹23455 cr10.8%13.0%0.1x
2023-019.0x₹23455 cr10.8%13.0%0.1x
2022-129.7x₹23455 cr10.8%13.0%0.1x
2022-1110.3x₹23455 cr10.8%13.0%0.1x
2022-1011.9x₹23455 cr10.8%13.0%0.1x
2022-0911.3x₹23455 cr10.8%13.0%0.1x
2022-0812.1x₹23455 cr10.8%13.0%0.1x
2022-0712.1x₹23455 cr10.8%13.0%0.1x
2022-0611.4x₹23455 cr10.8%13.0%0.1x
2022-055.8x₹24775 cr24.3%18.0%0.2x
2022-046.9x₹24775 cr24.3%18.0%0.2x
2022-037.3x₹24775 cr24.3%18.0%0.2x
2022-026.9x₹24775 cr24.3%18.0%0.2x
2022-017.0x₹24775 cr24.3%18.0%0.2x
2021-128.1x₹24775 cr24.3%18.0%0.2x

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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