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BAJAJ HOLDINGS & INVESTMENT LI (BAJAJHLDNG)

Finance · Financial Conglomerates · 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.81 / 100
Profitability 76Growth 66Balance 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.52 / 100
Price 53Earnings 52FII/DII 51
Compare withJIO FINANCIAL SERVICESMAHARASHTRA SCOOTERSPILANI INVESTMENT AND INDUSTRI

Share price

Closing priceAdjusted for splits and bonus issues.

₹10,942 latest close · −1.2% over the last 90 sessions

₹10,500₹11,000₹11,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹10,500₹11,000₹11,500Jul 3Sep 4Nov 9

₹10,942 month-end · −4.8% over 12 months

₹9,000₹10,000₹11,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹9,000₹10,000₹11,000Nov '25May '26Nov '26

₹10,942 month-end · +48.7% over 3 years

₹7,500₹10,000₹12,500₹15,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹7,500₹10,000₹12,500₹15,000Nov '23May '25Nov '26

₹10,942 month-end · +284.3% since Jan '19

₹5,000₹10,000₹15,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹5,000₹10,000₹15,000Jan '19Dec '22Nov '26

52-week range ₹8588.00 to ₹13250.00 · 1-year volatility 29.1%

Was the rally earned?

-5%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-5%).
  • The share count barely moved.
Net profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4 ptsNet profit growthP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10 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: −5%−5%Share priceNet profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4ProfitP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −5%−5%Share price
Net profit growth+4 ptsNet profit rose about 4%, which lifts the price.
P/E change-10 ptsThe P/E fell from 15.2x to 13.7x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+49%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 74 points, but investors now pay less per rupee of profit (P/E 16.9x to 13.7x), which took 25 points back.
  • The share count barely moved.
Net profit growth: +72 pts. Points of the price return explained by net profit growing (or shrinking).+72 ptsNet profit growthP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25 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: +49%+49%Share priceNet profit growth: +72 pts. Points of the price return explained by net profit growing (or shrinking).+72ProfitP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +49%+49%Share price
Net profit growth+72 ptsNet profit rose about 79%, which lifts the price.
P/E change-25 ptsThe P/E fell from 16.9x to 13.7x, which lowers the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
+117%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 134 points, but investors now pay less per rupee of profit (P/E 15.4x to 13.7x), which took 17 points back.
  • The share count barely moved.
Net profit growth: +134 pts. Points of the price return explained by net profit growing (or shrinking).+134 ptsNet profit growthP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17 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: +117%+117%Share priceNet profit growth: +134 pts. Points of the price return explained by net profit growing (or shrinking).+134ProfitP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +117%+117%Share price
Net profit growth+134 ptsNet profit rose about 142%, which lifts the price.
P/E change-17 ptsThe P/E fell from 15.4x to 13.7x, which lowers the price.
Share count change0 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 JIO FINANCIAL SERVICES

How rough has the ride been?

Maximum drawdown-60.9%recovered 2021-07
1-year volatility29.1%annualised
Beta vs sector index0.733-year daily, correlation 0.42
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−51.9% 0%−20%−40%2020202220242026−51.9%
Largest drawdowns

-60.9% (2020-02 peak to 2020-03 low, recovered 2021-07)

-39.8% (2025-08 peak to 2026-03 low, not yet recovered)

-28.4% (2022-04 peak to 2022-06 low, recovered 2022-09)

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?

13.8xP/E todayWithin its usual range
Against its own history43rd percentile
CheapestMedian 14.7xDearest

Usual range 11.2x to 18.6x since 2019-01.

Against Finance13.8x vs 18.1x
This company
13.8x
Sector median
18.1x

24% below the Finance median.

6.6x13.0x19.5x26.0xJan '19Aug '20Mar '22Oct '23May '25Nov '266.6x13.0x19.5x26.0xJan '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

  • ROCE59th▲ 9 pts vs a year ago
  • Op. margin93rdflat vs a year ago
  • Revenue growth70th▲ 64 pts vs a year ago
  • EPS growth52nd▼ 10 pts vs a year ago
  • Debt/equity ↓78thflat vs a year ago
  • Cash cycle ↓89thflat vs a year ago
  • P/E ↓70th▼ 5 pts vs a year ago
  • 12M momentum61st▼ 22 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?

~13%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 18.8x, a holder earning 12%/yr needs earnings to grow about 13.0%/yr for 10 years, then trade at 15x.

Delivered16.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−3.5 ptsimplied minus delivered
Rank598thmost demanding of 856

Over time

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

0%8%17% Jan 2019Nov 2026 0%8%17% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.3%15.3%16.4%
15x12.0%13.0%14.0%
20x9.0%10.0%11.0%

Drag a slider to test other assumptions

Implied: 13.0%/yr

Looking back

  • Jan 2020Price implied 9%/yr; EPS has since grown 18%/yr (7.0 yrs)
  • Jan 2021Price implied 8%/yr; EPS has since grown 21%/yr (6.0 yrs)
  • Jan 2022Price implied 11%/yr; EPS has since grown 22%/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
₹10942.00
P/E
13.7x
ROCE
11.0%
Market Cap
₹1.22L cr
Revenue (TTM)
₹1140 cr
P/S
106.8x
P/B
1.7x
ROE
12.1%
Operating Margin
87.0%
Debt / Equity
0.0x
Promoter Holding
51.5%
12M Momentum
-4.8%

52-week range

₹8588.00₹13250.00
50% of the way from its 52-week low to its high

Price risk

1Y volatility
29.1%
Beta vs sector
1-year daily
0.89

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.20x
low
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 6checks within range3 beyond a threshold
Other income reliance90%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 89.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate2%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 2.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.20xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.20x (cash from operations ₹4,764 cr, net profit ₹23,780 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (0 vs 0). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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 2.4 pts; FIIs trimmed 2.2 pts.
  • The number of shareholders rose from 60,734 to 83,499 (+37%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters51.5%51.5%0.0 pts
FIIs11.7%9.5%-2.2 pts
DIIs5.9%8.3%+2.4 pts
Public and others31.0%30.8%-0.2 pts

Number of shareholders

83,499shareholders+37% since Sep '23
61k69k76k84k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 60,734
Dec '23: 61,275
Mar '24: 60,774
Jun '24: 65,300
Sep '24: 65,695
Dec '24: 64,338
Mar '25: 69,354
Jun '25: 72,783
Sep '25: 75,884
Dec '25: 84,234
Mar '26: 83,963
Jun '26: 83,499
 61k69k76k84k Sep '23Sep '24Sep '25Jun '26
Sep '23: 60,734
Dec '23: 61,275
Mar '24: 60,774
Jun '24: 65,300
Sep '24: 65,695
Dec '24: 64,338
Mar '25: 69,354
Jun '25: 72,783
Sep '25: 75,884
Dec '25: 84,234
Mar '26: 83,963
Jun '26: 83,499

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

−9.7%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 BAJAJ HOLDINGS & INVESTMENT LI 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 +16% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−6.8%, 80% range −12.4% to +0.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DELTACORP · Jun 2023: −65.1% vs market
COHANCE · May 2025: −59.7% vs market
GLAND · Feb 2022: −59.2% vs market
GREAVESCOT · Jan 2020: −47.2% vs market
VINATIORGA · Mar 2023: −45.3% vs market
LAOPALA · Mar 2023: −41.0% vs market
CONCOR · Jan 2020: −35.8% vs market
CLEAN · Aug 2025: −34.9% vs market
INDIAMART · Aug 2023: −33.5% vs market
DRREDDY · Jan 2021: −31.3% vs market
MCX · Jan 2021: −31.2% vs market
ALEMBICLTD · Aug 2024: −30.5% vs market
JUSTDIAL · Jul 2024: −29.8% vs market
LATENTVIEW · Aug 2023: −22.9% vs market
KICL · Feb 2020: −22.2% vs market
EIHOTEL · Apr 2025: −19.3% vs market
PGHL · Jul 2020: −17.7% vs market
SJVN · Jan 2020: −17.5% vs market
PIIND · Jul 2023: −16.9% vs market
DLF · Aug 2025: −13.2% vs market
BFINVEST · Oct 2025: −12.6% vs market
OBEROIRLTY · Mar 2025: −10.9% vs market
EICHERMOT · Jun 2023: −10.9% vs market
PFIZER · Dec 2024: −10.5% vs market
SUNTV · Mar 2025: −10.4% vs market
GPPL · Jun 2020: −9.0% vs market
ICRA · Oct 2023: −5.4% vs market
JSWINFRA · Jul 2025: −2.7% vs market
NAUKRI · May 2023: −2.6% vs market
ERIS · Nov 2020: −2.2% vs market
SAREGAMA · Jun 2023: −0.9% vs market
BIOCON · Jan 2020: +6.1% vs market
SUNPHARMA · Oct 2020: +6.9% vs market
AMBUJACEM · Jun 2020: +7.7% vs market
NATCOPHARM · Sep 2023: +12.1% vs market
MAHSCOOTER · Jul 2023: +12.7% vs market
AIAENG · Dec 2022: +13.3% vs market
JSWHL · Oct 2020: +16.4% vs market
PHOENIXLTD · Oct 2023: +20.4% vs market
LINDEINDIA · Jan 2023: +21.1% vs market
CARERATING · Feb 2025: +21.8% vs market
NESCO · May 2025: +24.0% vs market
AFFLE · Aug 2024: +26.8% vs market
MAXHEALTH · Oct 2023: +27.3% vs market
NAVINFLUOR · Feb 2021: +27.4% vs market
TATAINVEST · Apr 2022: +46.9% vs market
BSE · Jul 2021: +51.1% vs market
DIVISLAB · Sep 2025: +62.4% vs market
NSIL · Dec 2023: +102.5% vs market
CDSL · Jan 2021: +129.2% vs market
Similar setups −9.7%All companies −2.9%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−9.7%
All companies' median
−2.9%
Beat the market
38% vs 47%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
OBEROIRLTY
Finance		 Mar 2025 23x15% +11%−30% −11%
TATAINVEST
Finance		 Apr 2022 49x2% +45%−11% +47%
NAUKRI
Technology Services		 May 2023 4x23% −2%−10% −3%
JSWHL
Finance		 Oct 2020 25x2% −9%−15% +16%
DLF
Finance		 Aug 2025 42x7% −13%−20% −13%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MCX
Finance		 Jan 2021 36x15% +32%−9% −31%
GPPL
Transportation		 Jun 2020 11x17% −14%−21% −9%
NESCO
Producer Manufacturing		 May 2025 17x22% +9%−13% +24%
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, 12-month momentum and revenue growth. 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 BAJAJ HOLDINGS & INVESTMENT LI. 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.

INDIAMART INTERMESHINDIAMART
Retail Trade
49%similar
EPS growthpromoter holding
NESCONESCO
Producer Manufacturing
46%similar
operating marginrevenue
GUJARAT PIPAVAV PORTGPPL
Transportation
44%similar
EPS growthvolatility
NATCO PHARMANATCOPHARM
Health Technology
44%similar
P/Epromoter holding
ICRAICRA
Commercial Services
43%similar
promoter holdingdebt/equity
UTI ASSET MANAGEMENT COMUTIAMC
Finance
43%similar
operating marginvolatility
OBEROI REALTYOBEROIRLTY
Finance
36%similar
volatilityoperating margin
SUNTECK REALTYSUNTECK
Finance
35%similar
revenuerevenue growth

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

What changed?

30 events since Feb '23

  1. SepPeer rankMoved into the top quartile of Finance on operating margin (from the 2nd quartile).
  2. JunPeer rankSlipped to the 2nd quartile of Finance on operating margin (from the top quartile).
  3. AprPeer rankMoved into the 2nd quartile of Finance on ROCE (from the 3rd quartile).
  4. MarPriceFell 40% from the Aug 2025 peak to the Mar 2026 low.
  5. MarValuationP/E fell below the 10th percentile of its own history to date (11.1x).
  6. NovPeer rankSlipped to the 3rd quartile of Finance on ROCE (from the 2nd quartile).
  7. NovPriceVolume reached 15.9x its 50-day median on 2025-11-06; price +8.7% that day.
  8. SepResultsYear-on-year EPS growth turned positive.
Show 22 earlier events
  1. SepPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
  2. AugPriceVolume reached 6.7x its 50-day median on 2025-08-07; price +1.3% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  5. JunPriceVolume reached 8.8x its 50-day median on 2025-06-06; price +5.7% that day.
  6. MarValuationP/E crossed above the 90th percentile of its own history to date (18.5x).
  7. JanPriceVolume reached 8.9x its 50-day median on 2025-01-22; price +4.5% that day.
  8. DecPeer rankMoved into the top quartile of Finance on operating margin (from the 2nd quartile).
  9. DecPriceVolume reached 17.5x its 50-day median on 2024-12-30; price +11.8% that day.
  10. SepPeer rankSlipped to the 2nd quartile of Finance on operating margin (from the top quartile).
  11. JulPriceVolume reached 13.7x its 50-day median on 2024-07-04; price +6.5% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹1,649 cr.
  13. JunPriceVolume reached 14.3x its 50-day median on 2024-06-24; price +6.1% that day.
  14. JanPriceVolume reached 5.0x its 50-day median on 2024-01-19; price +5.9% that day.
  15. DecValuationP/E crossed above the 90th percentile of its own history to date (17.6x).
  16. DecPriceVolume reached 6.0x its 50-day median on 2023-12-04; price +7.1% that day.
  17. SepPriceVolume reached 7.1x its 50-day median on 2023-09-12; price -0.7% that day.
  18. JulValuationP/E crossed above the 90th percentile of its own history to date (17.3x).
  19. JunResultsRevenue (TTM) reached a new high of ₹522 cr.
  20. JunPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
  21. AprPriceVolume reached 17.5x its 50-day median on 2023-04-18; price +4.1% that day.
  22. FebPriceVolume reached 5.6x its 50-day median on 2023-02-28; price +2.7% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1113.7x₹1140 cr12.1%11.0%0.0x
2026-1012.8x₹1140 cr12.3%11.0%0.0x
2026-0913.6x₹1140 cr12.3%11.0%0.0x
2026-0813.4x₹1071 cr13.4%11.0%0.0x
2026-0713.1x₹1071 cr13.4%11.0%0.0x
2026-0612.2x₹1071 cr13.4%11.0%0.0x
2026-0513.1x₹1155 cr14.3%10.0%0.0x
2026-0413.0x₹1155 cr14.3%10.0%0.0x
2026-0311.1x₹1155 cr14.3%10.0%0.0x
2026-0214.1x₹993 cr13.9%10.0%0.0x
2026-0114.1x₹993 cr13.9%10.0%0.0x
2025-1214.8x₹993 cr13.9%10.0%0.0x
2025-1115.2x₹875 cr13.6%10.0%0.0x
2025-1016.3x₹875 cr13.6%10.0%0.0x
2025-0916.2x₹875 cr13.6%10.0%0.0x
2025-0821.8x₹684 cr10.6%10.0%0.0x
2025-0723.8x₹684 cr10.6%10.0%0.0x
2025-0624.5x₹684 cr10.6%10.0%0.0x
2025-0519.9x₹1751 cr14.0%13.0%0.0x
2025-0417.7x₹1751 cr14.0%13.0%0.0x
2025-0318.5x₹1751 cr14.0%13.0%0.0x
2025-0217.4x₹1733 cr13.8%13.0%0.0x
2025-0117.4x₹1733 cr13.8%13.0%0.0x
2024-1217.9x₹1733 cr13.8%13.0%0.0x
2024-1115.6x₹1679 cr13.9%13.0%0.0x
2024-1015.3x₹1679 cr13.9%13.0%0.0x
2024-0915.7x₹1679 cr13.9%13.0%0.0x
2024-0815.4x₹1649 cr13.6%13.0%0.0x
2024-0714.7x₹1649 cr13.6%13.0%0.0x
2024-0613.1x₹1649 cr13.6%13.0%0.0x
2024-0518.2x₹522 cr11.2%10.0%0.0x
2024-0418.6x₹522 cr11.2%10.0%0.0x
2024-0319.0x₹522 cr11.2%10.0%0.0x
2024-0221.0x₹522 cr11.2%10.0%0.0x
2024-0119.2x₹522 cr11.2%10.0%0.0x
2023-1217.6x₹522 cr11.2%10.0%0.0x
2023-1116.9x₹522 cr11.2%10.0%0.0x
2023-1015.9x₹522 cr11.2%10.0%0.0x
2023-0916.3x₹522 cr11.2%10.0%0.0x
2023-0817.1x₹522 cr11.2%10.0%0.0x
2023-0717.3x₹522 cr11.2%10.0%0.0x
2023-0616.1x₹522 cr11.2%10.0%0.0x
2023-0519.9x₹484 cr9.6%9.0%0.0x
2023-0418.8x₹484 cr9.6%9.0%0.0x
2023-0316.2x₹484 cr9.6%9.0%0.0x
2023-0217.2x₹484 cr9.6%9.0%0.0x
2023-0116.1x₹484 cr9.6%9.0%0.0x
2022-1215.8x₹484 cr9.6%9.0%0.0x
2022-1117.3x₹484 cr9.6%9.0%0.0x
2022-1018.3x₹484 cr9.6%9.0%0.0x
2022-0917.5x₹484 cr9.6%9.0%0.0x
2022-0815.0x₹484 cr9.6%9.0%0.0x
2022-0714.3x₹484 cr9.6%9.0%0.0x
2022-0612.6x₹484 cr9.6%9.0%0.0x
2022-0515.6x₹457 cr9.8%10.0%0.0x
2022-0415.8x₹457 cr9.8%10.0%0.0x
2022-0315.3x₹457 cr9.8%10.0%0.0x
2022-0215.9x₹457 cr9.8%10.0%0.0x
2022-0115.7x₹457 cr9.8%10.0%0.0x
2021-1216.6x₹457 cr9.8%10.0%0.0x

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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