अApnaFunda

BANSAL WIRE INDUSTRIES LIMITED (BANSALWIRE)

Producer Manufacturing · Metal Fabrications · 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.39 / 100
Profitability 30Balance sheet 49
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 56Earnings 25FII/DII 30
Compare withGEEKAY WIRE

Share price

Closing priceAdjusted for splits and bonus issues.

₹62.04 latest close · −15.2% over the last 90 sessions

₹60₹65₹70Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹60₹65₹70Jul 3Sep 4Nov 9

₹62.04 month-end · −4.3% over 12 months

₹50₹60₹70Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹50₹60₹70Nov '25May '26Nov '26

₹62.04 month-end · −12.0% since Jul '24

₹60₹80Jul '24Jan '25Jun '25Dec '25May '26Nov '26 ₹60₹80Jul '24Sep '25Nov '26

52-week range ₹44.50 to ₹74.00 · 1-year volatility 38.6%

Was the rally earned?

-4%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-4%).
  • The share count barely moved.
Net profit growth: −8 pts. Points of the price return explained by net profit growing (or shrinking).−8 ptsNet profit growthP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4 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: −4%−4%Share priceNet profit growth: −8 pts. Points of the price return explained by net profit growing (or shrinking).−8ProfitP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −4%−4%Share price
Net profit growth-8 ptsNet profit fell about 8%, which lowers the price.
P/E change+4 ptsThe P/E rose from 33.1x to 34.3x, which lifts 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

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

Compare this with GEEKAY WIRE

How rough has the ride been?

Maximum drawdown-53.9%not yet recovered
1-year volatility38.6%annualised
Beta vs sector index0.883-year daily, correlation 0.48
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%20252026−51.5% 0%−20%−40%20252026−51.5%
Largest drawdowns

-53.9% (2024-12 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-10-22: 15.4x the 50-day median, price -6.4% that day

2026-10-21: 10x the 50-day median, price -2.5% that day

2026-07-22: 14.7x the 50-day median, price -5.5% 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?

34.3xP/E todayWithin its usual range
Against its own history45th percentile
CheapestMedian 35.7xDearest

Usual range 29.9x to 61.9x since 2024-07.

Against Producer Manufacturing34.3x vs 29.6x
This company
34.3x
Sector median
29.6x

16% above the Producer Manufacturing median.

23.0x38.6x54.2x69.8xJul '24Jan '25Jul '25Jan '26Jul '26Nov '2623.0x38.6x54.2x69.8xJul '24May '25Mar '26Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE46th▼ 4 pts vs a year ago
  • Op. margin14th▼ 13 pts vs a year ago
  • Revenue growth66th▼ 21 pts vs a year ago
  • EPS growth29th▼ 55 pts vs a year ago
  • Debt/equity ↓38th▲ 6 pts vs a year ago
  • Cash cycle ↓59th▲ 11 pts vs a year ago
  • P/E ↓41st▼ 9 pts vs a year ago
  • 12M momentum52nd▲ 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~26%annual earnings growth implied by the price

At a P/E of 48.4x, the price would imply about 25.9%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹62.04
P/E
34.3x
ROCE
14.0%
Market Cap
₹4856 cr
Revenue (TTM)
₹4388 cr
P/S
1.1x
P/B
3.4x
ROE
9.9%
Operating Margin
4.8%
Debt / Equity
0.4x
Promoter Holding
75.0%
12M Momentum
-4.3%

52-week range

₹44.50₹74.00
59% of the way from its 52-week low to its high

Price risk

1Y volatility
38.6%
Beta vs sector
1-year daily
0.91

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.94x
low
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold
Other income reliance4%Within range

Other income as a share of pre-tax profit (trailing twelve months): 4.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.95xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.95x (cash from operations ₹-361 cr, net profit ₹382 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+1 daysWithin range

Debtor days are above the median of the previous three fiscal years by 1 days (52 vs 52). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress26% of fixed assetsWithin range

Capital work-in-progress is 26% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+31 days / 2 yrsNear threshold

Days payable changed by +31 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 2 years, promoters trimmed 3.0 pts; DIIs added 2.5 pts.
  • The number of shareholders fell from 1.0 lakh to 50,678 (-49%) between Jun 2024 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupJun '24Jun '26Change
Promoters78.0%75.0%-3.0 pts
FIIs2.3%2.0%-0.3 pts
DIIs13.1%15.6%+2.5 pts
Public and others6.7%7.4%+0.8 pts

Number of shareholders

50,678shareholders-49% since Jun '24
51k67k84k1.0L Jun '24Dec '24Jun '25Dec '25Jun '26
Jun '24: 1.0 lakh
Sep '24: 62,839
Dec '24: 57,969
Mar '25: 56,325
Jun '25: 56,124
Sep '25: 56,030
Dec '25: 54,379
Mar '26: 52,905
Jun '26: 50,678
51k67k84k1.0L Jun '24Mar '25Dec '25Jun '26
Jun '24: 1.0 lakh
Sep '24: 62,839
Dec '24: 57,969
Mar '25: 56,325
Jun '25: 56,124
Sep '25: 56,030
Dec '25: 54,379
Mar '26: 52,905
Jun '26: 50,678

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

+6.4%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 BANSAL WIRE INDUSTRIES 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 −24% to +38% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (+9.1%, 80% range −8.7% to +12.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
CONFIPET · Feb 2024: −49.2% vs market
CEATLTD · Feb 2021: −48.9% vs market
NILKAMAL · May 2023: −44.1% vs market
NACLIND · Feb 2023: −43.7% vs market
KOLTEPATIL · Sep 2023: −42.3% vs market
AARTIDRUGS · Jul 2023: −41.8% vs market
HITECH · Oct 2024: −38.5% vs market
EPL · Jul 2023: −32.8% vs market
SANDHAR · Jan 2020: −30.5% vs market
BIRLACORPN · May 2021: −28.2% vs market
IFBIND · Oct 2021: −26.7% vs market
SOMANYCERA · Feb 2022: −26.3% vs market
TCI · Mar 2020: −24.2% vs market
ORIENTELEC · Jan 2025: −22.9% vs market
HUHTAMAKI · Jul 2020: −20.6% vs market
GOKEX · Sep 2024: −19.6% vs market
ALICON · May 2024: −19.6% vs market
TVSSRICHAK · May 2020: −18.5% vs market
GREENPLY · Jul 2025: −16.2% vs market
NRBBEARING · Jan 2022: −10.8% vs market
PNGJL · Oct 2025: −8.9% vs market
BAJAJELEC · Jul 2021: −8.6% vs market
GLOBUSSPR · Sep 2024: −8.2% vs market
SUPRAJIT · Feb 2025: −7.7% vs market
GODREJAGRO · Jul 2024: +5.7% vs market
LUMAXTECH · Apr 2024: +7.2% vs market
ISGEC · May 2024: +7.4% vs market
SANSERA · Oct 2022: +7.9% vs market
BANARISUG · Apr 2022: +9.5% vs market
KPIL · Jun 2025: +11.4% vs market
GREENLAM · Aug 2022: +16.6% vs market
ORIENTCEM · Mar 2021: +17.8% vs market
APOLLOTYRE · Sep 2021: +23.1% vs market
AHLUCONT · May 2022: +25.0% vs market
POWERMECH · May 2024: +27.6% vs market
LUMAXIND · Oct 2022: +28.4% vs market
MINDACORP · Mar 2023: +30.7% vs market
ARTEMISMED · Jun 2024: +40.5% vs market
ENTERO · Aug 2025: +42.2% vs market
ALLCARGO · Oct 2020: +42.9% vs market
GANECOS · Jun 2022: +50.4% vs market
MMP · Oct 2025: +66.5% vs market
CRAFTSMAN · Aug 2022: +72.4% vs market
CENTURYPLY · Sep 2020: +78.0% vs market
RAMRAT · Sep 2025: +84.4% vs market
PRICOLLTD · Apr 2022: +85.6% vs market
HIKAL · May 2020: +94.1% vs market
HSCL · Jul 2023: +107.7% vs market
JBMA · Aug 2021: +108.2% vs market
THANGAMAYL · Sep 2025: +150.0% vs market
Similar setups +6.4%All companies −2.7%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
+6.4%
All companies' median
−2.7%
Beat the market
52% vs 47%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GREENPLY
Producer Manufacturing
Jul 2025 44x12% −9%−20% −16%
SANDHAR
Consumer Durables
Jan 2020 18x16% +1%−8% −31%
GLOBUSSPR
Consumer Non-Durables
Sep 2024 48x9% +41%−7% −8%
TCI
Transportation
Mar 2020 10x17% −42%−42% −24%
NILKAMAL
Consumer Durables
May 2023 40x9% +15%−6% −44%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SOMANYCERA
Producer Manufacturing
Feb 2022 55x12% +69%−22% −26%
PNGJL
Retail Trade
Oct 2025 35x19% −10%−16% −9%
TVSSRICHAK
Consumer Durables
May 2020 11x18% −31%−33% −19%
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: 12-month momentum, drawdown from 12-month high and ROCE. 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 BANSAL WIRE INDUSTRIES 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.

SISSIS
Commercial Services
60%similar
ROCEoperating margin
Consumer Durables
58%similar
market cappromoter holding
Consumer Non-Durables
57%similar
promoter holdingP/E
PSP PROJECTSPSPPROJECT
Industrial Services
55%similar
operating marginrevenue
Industrial Services
53%similar
debt/equityP/E
Producer Manufacturing
56%similar
ROCErevenue
Producer Manufacturing
55%similar
promoter holdingdebt/equity
Producer Manufacturing
49%similar
promoter holdingrevenue

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

What changed?

22 events since Dec '24

  1. OctPriceVolume reached 15.4x its 50-day median on 2026-10-22; price -6.4% that day.
  2. SepPromoterPromoter holding fell 3.0 pts to 75.0%.
  3. SepResultsYear-on-year EPS growth turned negative.
  4. JulPriceVolume reached 14.7x its 50-day median on 2026-07-22; price -5.5% that day.
  5. JunPriceVolume reached 14.5x its 50-day median on 2026-06-29; price +6.0% that day.
  6. MarPriceFell 54% from the Dec 2024 peak to the Mar 2026 low.
  7. MarPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  8. FebDebtDebt / equity halved over 12 months to 0.48x.
Show 14 earlier events
  1. JanPeer rankSlipped to the 3rd quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  2. JanPriceVolume reached 18.2x its 50-day median on 2026-01-02; price +1.9% that day.
  3. DecPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  4. NovPriceVolume reached 10.2x its 50-day median on 2025-11-18; price +3.8% that day.
  5. SepPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  6. SepPriceVolume reached 6.4x its 50-day median on 2025-09-29; price -5.0% that day.
  7. JulDebtDebt / equity halved over 12 months to 0.48x.
  8. JulSharesShare count is up 21.9% over 12 months.
  9. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  10. JunDebtDebt / equity fell below 1.0x (0.48x).
  11. JunPriceVolume reached 8.8x its 50-day median on 2025-06-12; price -2.2% that day.
  12. MarInstitutionsFII + DII holding rose 3.0 pts over 2 quarters to 18.4%.
  13. FebPriceVolume reached 7.5x its 50-day median on 2025-02-04; price -0.4% that day.
  14. DecPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).

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 history29 months · 2024-07 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1134.3x₹4388 cr9.9%14.0%0.4x
2026-1031.7x₹4388 cr9.9%14.0%0.4x
2026-0935.7x₹4388 cr9.9%14.0%0.4x
2026-0830.9x₹4159 cr11.2%14.0%0.4x
2026-0730.7x₹4159 cr11.2%14.0%0.4x
2026-0633.2x₹4159 cr11.2%14.0%0.4x
2026-0532.5x₹3963 cr12.1%16.0%0.5x
2026-0430.3x₹3963 cr12.1%16.0%0.5x
2026-0323.0x₹3963 cr12.1%16.0%0.5x
2026-0227.1x₹3859 cr12.0%16.0%0.5x
2026-0128.4x₹3859 cr12.0%16.0%0.5x
2025-1231.9x₹3859 cr12.0%16.0%0.5x
2025-1133.1x₹3629 cr12.1%16.0%0.5x
2025-1031.1x₹3629 cr12.1%16.0%0.5x
2025-0934.5x₹3629 cr12.1%16.0%0.5x
2025-0836.9x₹3507 cr11.6%16.0%0.5x
2025-0741.1x₹3507 cr11.6%16.0%0.5x
2025-0640.5x₹3507 cr11.6%16.0%0.5x
2025-0538.6x₹3276 cr32.6%15.0%1.6x
2025-0438.0x₹3276 cr32.6%15.0%1.6x
2025-0341.2x₹3276 cr32.6%15.0%1.6x
2025-0242.7x₹2957 cr26.2%15.0%1.6x
2025-0152.6x₹2957 cr26.2%15.0%1.6x
2024-1257.1x₹2957 cr26.2%15.0%1.6x
2024-1167.4x₹2735 cr21.0%15.0%1.6x
2024-1059.7x₹2735 cr21.0%15.0%1.6x
2024-0966.4x₹2735 cr21.0%15.0%1.6x
2024-0869.8x₹2466 cr17.7%15.0%1.6x
2024-0760.8x₹2466 cr17.7%15.0%1.6x

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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