Share price
₹18.81 latest close · +5.2% over the last 90 sessions
₹18.81 month-end · −8.4% over 12 months
₹18.81 month-end · −40.5% over 3 years
₹18.81 month-end · +133.7% since Jan '19
52-week range ₹14.85 to ₹26.00 · 1-year volatility 42.8%
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-75.6% (2019-05 peak to 2020-03 low, recovered 2021-05)
-66.9% (2024-07 peak to 2026-02 low, not yet recovered)
-61.9% (2021-07 peak to 2022-08 low, recovered 2023-08)
Most recent volume spikes
2026-09-07: 7.6x the 50-day median, price +4.2% that day
2026-09-03: 6.5x the 50-day median, price +1.1% that day
2026-09-02: 5.2x the 50-day median, price -0.4% 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 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
- ROCE15th▲ 4 pts vs a year ago
- Op. margin2nd▼ 6 pts vs a year ago
- Revenue growth18th▲ 9 pts vs a year ago
- Debt/equity ↓1stflat vs a year ago
- Cash cycle ↓98thflat vs a year ago
- P/E ↓4th
- 12M momentum52nd▲ 34 pts vs a year ago
Rank history
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?
At a P/E of 104.5x, the price would imply about 36.0%/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 Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹18.81
- P/E
- 104.5x
- ROCE
- 3.0%
- Market Cap
- ₹4508 cr
- Revenue (TTM)
- ₹5332 cr
- P/S
- 0.8x
- P/B
- 4.5x
- ROE
- 4.3%
- Operating Margin
- -11.0%
- Debt / Equity
- 6.4x
- Promoter Holding
- 13.3%
- 12M Momentum
- -8.4%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance30%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 30.4%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate0%Beyond threshold
Median quarterly effective tax rate over about 2.5 years: 0.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion—Not enough data
Not enough reported data to compute this.
Free cash flow5 of 5 yrsWithin range
Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-1 daysWithin range
Debtor days are below the median of the previous three fiscal years by 1 days (7 vs 8). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress1% of fixed assetsWithin range
Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-3 days / 2 yrsWithin range
Days payable changed by -3 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.
Who has been buying and selling?
- Over 2 years, DIIs added 41.2 pts; promoters trimmed 11.6 pts; FIIs trimmed 0.7 pts.
- The number of shareholders rose from 5.6 lakh to 7.5 lakh (+35%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like BAJAJ HINDUSTHAN SUGAR 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 −26% to +36% vs the market, against −2% for all non-financial companies in the same months.
- The gap against the base rate (+0.2%, 80% range −10.6% to +16.9%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
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 · 5 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 34 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SIMPLEXINF Industrial Services |
Oct 2025 | 85x | 0% | −3% | −21% | −1% |
| DYNAMATECH Producer Manufacturing |
Dec 2022 | 100x | 9% | +6% | −11% | +66% |
| MHRIL Consumer Services |
Jan 2023 | 76x | 8% | +21% | −13% | +13% |
| IRB Industrial Services |
Jun 2021 | 48x | 9% | +83% | −3% | +25% |
| PRSMJOHNSN Non-Energy Minerals |
May 2023 | 67x | 8% | +12% | −12% | −14% |
Show the other 3 matches
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: interest cover, drawdown from 12-month high and 12-month momentum. 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.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Dec '22
- SepResultsEPS (TTM) turned positive.
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the top quartile).
- AugPriceVolume reached 50.3x its 50-day median on 2026-08-20; price +14.5% that day.
- JunPromoterPromoter holding fell 11.5 pts to 13.4%.
- JunInstitutionsFII + DII holding rose 41.9 pts over 1 quarter to 51.5%.
- JunPeer rankMoved into the top quartile of Process Industries on operating margin (from the 3rd quartile).
- JunDebtDebt / equity halved over 12 months to 6.36x.
- JunSharesShare count is up 91.1% over 12 months.
Show 22 earlier events
- MarPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
- MarPriceVolume reached 11.9x its 50-day median on 2026-03-04; price +10.2% that day.
- FebPriceFell 67% from the Jul 2024 peak to the Feb 2026 low.
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the top quartile).
- SepPriceVolume reached 18.7x its 50-day median on 2025-09-02; price +4.4% that day.
- JunPeer rankMoved into the top quartile of Process Industries on operating margin (from the bottom quartile).
- JunDebtDebt / equity rose above 1.0x (23.68x).
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 2nd quartile).
- JunPriceRegained the 2024-02 peak, 3 months after the low.
- JunPriceVolume reached 16.2x its 50-day median on 2024-06-13; price +14.5% that day.
- MarPriceFell 28% from the Feb 2024 peak to the Mar 2024 low.
- FebPriceRegained the 2023-11 peak, 1 month after the low.
- FebDebtDebt / equity halved over 12 months to 0.97x.
- FebPriceVolume reached 9.1x its 50-day median on 2024-02-05; price +7.9% that day.
- JanPriceFell 27% from the Nov 2023 peak to the Jan 2024 low.
- NovPriceVolume reached 6.8x its 50-day median on 2023-11-06; price +16.2% that day.
- AugPriceRegained the 2021-07 peak, 12 months after the low.
- AugPriceVolume reached 7.4x its 50-day median on 2023-08-10; price +4.2% that day.
- JulDebtDebt / equity halved over 12 months to 0.97x.
- JunDebtDebt / equity fell below 1.0x (0.97x).
- MayPriceVolume reached 8.8x its 50-day median on 2023-05-29; price +11.2% that day.
- DecPriceVolume reached 59.7x its 50-day median on 2022-12-05; price +20.0% 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
Monthly history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 104.5x | ₹5332 cr | 4.3% | 3.0% | 6.4x |
| 2026-10 | 95.8x | ₹5332 cr | 4.3% | 3.0% | 6.4x |
| 2026-09 | 108.6x | ₹5332 cr | 4.3% | 3.0% | 6.4x |
| 2026-08 | — | ₹5454 cr | -9.8% | 3.0% | 6.4x |
| 2026-07 | — | ₹5454 cr | -9.8% | 3.0% | 6.4x |
| 2026-06 | — | ₹5454 cr | -9.8% | 3.0% | 6.4x |
| 2026-05 | — | ₹5339 cr | -10.8% | 2.0% | 23.7x |
| 2026-04 | — | ₹5339 cr | -10.8% | 2.0% | 23.7x |
| 2026-03 | — | ₹5339 cr | -10.8% | 2.0% | 23.7x |
| 2026-02 | — | ₹5435 cr | -39.6% | 2.0% | 23.7x |
| 2026-01 | — | ₹5435 cr | -39.6% | 2.0% | 23.7x |
| 2025-12 | — | ₹5435 cr | -39.6% | 2.0% | 23.7x |
| 2025-11 | — | ₹5438 cr | -32.5% | 2.0% | 23.7x |
| 2025-10 | — | ₹5438 cr | -32.5% | 2.0% | 23.7x |
| 2025-09 | — | ₹5438 cr | -32.5% | 2.0% | 23.7x |
| 2025-08 | — | ₹5576 cr | -6.2% | 2.0% | 23.7x |
| 2025-07 | — | ₹5576 cr | -6.2% | 2.0% | 23.7x |
| 2025-06 | — | ₹5576 cr | -6.2% | 2.0% | 23.7x |
| 2025-05 | — | ₹5892 cr | -1.3% | 1.0% | 0.9x |
| 2025-04 | — | ₹5892 cr | -1.3% | 1.0% | 0.9x |
| 2025-03 | — | ₹5892 cr | -1.3% | 1.0% | 0.9x |
| 2025-02 | — | ₹6157 cr | -0.3% | 1.0% | 0.9x |
| 2025-01 | — | ₹6157 cr | -0.3% | 1.0% | 0.9x |
| 2024-12 | — | ₹6157 cr | -0.3% | 1.0% | 0.9x |
| 2024-11 | — | ₹6130 cr | -0.7% | 1.0% | 0.9x |
| 2024-10 | — | ₹6130 cr | -0.7% | 1.0% | 0.9x |
| 2024-09 | — | ₹6130 cr | -0.7% | 1.0% | 0.9x |
| 2024-08 | — | ₹6104 cr | -0.7% | 1.0% | 0.9x |
| 2024-07 | — | ₹6104 cr | -0.7% | 1.0% | 0.9x |
| 2024-06 | — | ₹6104 cr | -0.7% | 1.0% | 0.9x |
| 2024-05 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2024-04 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2024-03 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2024-02 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2024-01 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-12 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-11 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-10 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-09 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-08 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-07 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-06 | — | ₹6338 cr | -1.1% | 1.0% | 1.0x |
| 2023-05 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2023-04 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2023-03 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2023-02 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2023-01 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-12 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-11 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-10 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-09 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-08 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-07 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-06 | — | ₹5576 cr | -4.4% | 0.0% | 2.1x |
| 2022-05 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2022-04 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2022-03 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2022-02 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2022-01 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-12 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-11 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-10 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-09 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-08 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-07 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-06 | — | ₹6666 cr | -4.6% | 0.0% | 2.3x |
| 2021-05 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2021-04 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2021-03 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2021-02 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2021-01 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-12 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-11 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-10 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-09 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-08 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-07 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-06 | — | ₹6669 cr | -0.7% | 3.0% | 2.0x |
| 2020-05 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2020-04 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2020-03 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2020-02 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2020-01 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-12 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-11 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-10 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-09 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-08 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-07 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-06 | — | ₹6806 cr | -1.8% | 2.0% | 2.2x |
| 2019-05 | — | ₹5847 cr | -6.3% | 2.0% | 2.3x |
| 2019-04 | — | ₹5847 cr | -6.3% | 2.0% | 2.3x |
| 2019-03 | — | ₹5847 cr | -6.3% | 2.0% | 2.3x |
| 2019-02 | — | ₹5847 cr | -6.3% | 2.0% | 2.3x |
| 2019-01 | — | ₹5847 cr | -6.3% | 2.0% | 2.3x |