Share price
₹100.27 latest close · −24.4% over the last 90 sessions
₹100.27 month-end · −18.2% over 12 months
₹100.27 month-end · −31.3% over 3 years
₹100.27 month-end · +186.5% since Jan '19
52-week range ₹92.88 to ₹144.00 · 1-year volatility 39.8%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 58 points, but investors now pay less per rupee of profit (P/E 21.4x to 9.2x), which took 76 points back.
- The share count barely moved.
Mostly earnings.
- Per-share earnings took off 92 points, while the multiple moved less (P/E 4.4x to 9.2x).
- The share count barely moved.
- The share price was roughly flat over 5 years (+3%).
- The share count fell 3%.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-57.2% (2020-02 peak to 2020-08 low, recovered 2021-06)
-48.3% (2023-06 peak to 2026-10 low, not yet recovered)
-42.1% (2022-01 peak to 2022-06 low, recovered 2023-04)
Is it expensive against its own past and its peers?
Usual range 3.9x to 22.7x since 2019-01.
49% below the Process Industries median.
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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.
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
- ROCE41st▲ 12 pts vs a year ago
- Op. margin31st▲ 3 pts vs a year ago
- Revenue growth39th▼ 11 pts vs a year ago
- EPS growth85th▲ 58 pts vs a year ago
- Debt/equity ↓22nd▼ 3 pts vs a year ago
- Cash cycle ↓17thflat vs a year ago
- P/E ↓80th▲ 30 pts vs a year ago
- 12M momentum35th▼ 35 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 6.9x, the price would imply about 2.7%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Below the ₹1,000 cr market-cap floor used for the lists.
“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
- ₹100.27
- P/E
- 9.2x
- ROCE
- 9.0%
- Market Cap
- ₹343 cr
- Revenue (TTM)
- ₹1366 cr
- P/S
- 0.3x
- P/B
- 0.6x
- ROE
- 6.4%
- Operating Margin
- 7.0%
- Debt / Equity
- 0.8x
- Promoter Holding
- 54.2%
- 12M Momentum
- -18.2%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance24%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 24.4%. 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 conversion3.79xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 3.79x (cash from operations ₹337 cr, net profit ₹89 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+9 daysWithin range
Debtor days are above the median of the previous three fiscal years by 9 days (66 vs 57). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress5% of fixed assetsWithin range
Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-1 days / 2 yrsWithin range
Days payable changed by -1 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 3 years, promoters trimmed 1.9 pts.
- The number of shareholders fell from 14,766 to 11,102 (-25%) between Sep 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 BANSWARA SYNTEX 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 −10% to +43% vs the market, against −6% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +22.0%, 80% range +7.1% to +25.4%), but the matches cluster in only 6 distinct 12-month windows.
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 · 6 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| TBZ Retail Trade |
Jun 2024 | 15x | 11% | +44% | −14% | +52% |
| WHEELS Producer Manufacturing |
Dec 2024 | 17x | 12% | −3% | −25% | +21% |
| MUNJALAU Producer Manufacturing |
Sep 2023 | 10x | 9% | +10% | −11% | +43% |
| DCMSRIND Miscellaneous |
Jun 2023 | 12x | 10% | +5% | −15% | +84% |
| UCAL Producer Manufacturing |
Dec 2022 | 8x | 10% | −12% | −26% | −9% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SUKHJITS Consumer Non-Durables |
May 2025 | 12x | 12% | −12% | −37% | −9% |
| UTTAMSUGAR Process Industries |
Oct 2025 | 10x | 11% | −24% | −25% | +40% |
| AVADHSUGAR Process Industries |
Jun 2023 | 11x | 10% | +2% | −10% | −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: ROCE, 12-month momentum and drawdown from 12-month high. 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 changed?
30 events since Jun '19
- OctPriceFell 48% from the Jun 2023 peak to the Oct 2026 low.
- SepPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
- JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
- MarResultsYear-on-year EPS growth turned positive.
- MarPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
- SepPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
- JunValuationP/E crossed above the 90th percentile of its own history to date (23.1x).
- JunPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
Show 22 earlier events
- MarPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the top quartile).
- JunResultsRevenue (TTM) reached a new high of ₹1,499 cr.
- JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 3rd quartile).
- AprPriceRegained the 2022-01 peak, 10 months after the low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPriceFell 42% from the Jan 2022 peak to the Jun 2022 low.
- JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the bottom quartile).
- JunDividendDividend payout cut from 18% to 9% of profit.
- DecPriceRegained the 2021-08 peak, 3 months after the low.
- SepPriceFell 42% from the Aug 2021 peak to the Sep 2021 low.
- JunResultsYear-on-year EPS growth turned negative.
- JunPriceRegained the 2020-02 peak, 10 months after the low.
- JunValuationP/E crossed above the 90th percentile of its own history to date (18.9x).
- JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
- AugPriceFell 57% from the Feb 2020 peak to the Aug 2020 low.
- JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
- JunDebtDebt / equity fell below 1.0x (0.94x).
- NovPriceRegained the 2019-01 peak, 3 months after the low.
- AugPriceFell 39% from the Jan 2019 peak to the Aug 2019 low.
- JunDividendDividend payout cut from 20% to 7% of profit.
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 | 9.2x | ₹1366 cr | 6.4% | 9.0% | 0.8x |
| 2026-10 | 8.9x | ₹1366 cr | 6.4% | 9.0% | 0.8x |
| 2026-09 | 10.0x | ₹1366 cr | 6.4% | 9.0% | 0.8x |
| 2026-08 | 12.7x | ₹1356 cr | 5.3% | 9.0% | 0.8x |
| 2026-07 | 13.6x | ₹1356 cr | 5.3% | 9.0% | 0.8x |
| 2026-06 | 14.7x | ₹1356 cr | 5.3% | 9.0% | 0.8x |
| 2026-05 | 16.2x | ₹1331 cr | 4.6% | 7.0% | 0.8x |
| 2026-04 | 15.8x | ₹1331 cr | 4.6% | 7.0% | 0.8x |
| 2026-03 | 12.9x | ₹1331 cr | 4.6% | 7.0% | 0.8x |
| 2026-02 | 18.1x | ₹1330 cr | 3.9% | 7.0% | 0.8x |
| 2026-01 | 16.6x | ₹1330 cr | 3.9% | 7.0% | 0.8x |
| 2025-12 | 18.2x | ₹1330 cr | 3.9% | 7.0% | 0.8x |
| 2025-11 | 21.4x | ₹1328 cr | 3.5% | 7.0% | 0.8x |
| 2025-10 | 20.3x | ₹1328 cr | 3.5% | 7.0% | 0.8x |
| 2025-09 | 22.1x | ₹1328 cr | 3.5% | 7.0% | 0.8x |
| 2025-08 | 18.9x | ₹1293 cr | 4.0% | 7.0% | 0.8x |
| 2025-07 | 22.2x | ₹1293 cr | 4.0% | 7.0% | 0.8x |
| 2025-06 | 23.1x | ₹1293 cr | 4.0% | 7.0% | 0.8x |
| 2025-05 | 20.3x | ₹1296 cr | 4.6% | 9.0% | 0.7x |
| 2025-04 | 17.9x | ₹1296 cr | 4.6% | 9.0% | 0.7x |
| 2025-03 | 16.8x | ₹1296 cr | 4.6% | 9.0% | 0.7x |
| 2025-02 | 18.7x | ₹1259 cr | 4.3% | 9.0% | 0.7x |
| 2025-01 | 20.6x | ₹1259 cr | 4.3% | 9.0% | 0.7x |
| 2024-12 | 21.7x | ₹1259 cr | 4.3% | 9.0% | 0.7x |
| 2024-11 | 17.0x | ₹1232 cr | 5.1% | 9.0% | 0.7x |
| 2024-10 | 17.1x | ₹1232 cr | 5.1% | 9.0% | 0.7x |
| 2024-09 | 17.7x | ₹1232 cr | 5.1% | 9.0% | 0.7x |
| 2024-08 | 14.2x | ₹1264 cr | 6.6% | 9.0% | 0.7x |
| 2024-07 | 16.3x | ₹1264 cr | 6.6% | 9.0% | 0.7x |
| 2024-06 | 14.4x | ₹1264 cr | 6.6% | 9.0% | 0.7x |
| 2024-05 | 4.3x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2024-04 | 4.5x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2024-03 | 4.4x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2024-02 | 4.9x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2024-01 | 4.7x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-12 | 4.4x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-11 | 4.4x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-10 | 4.4x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-09 | 4.5x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-08 | 5.0x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-07 | 4.5x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-06 | 5.1x | ₹1499 cr | 22.2% | 22.0% | 0.7x |
| 2023-05 | 11.8x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2023-04 | 11.9x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2023-03 | 9.1x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2023-02 | 9.8x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2023-01 | 9.0x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-12 | 8.9x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-11 | 8.5x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-10 | 7.4x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-09 | 7.4x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-08 | 8.8x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-07 | 8.7x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-06 | 7.9x | ₹1190 cr | 11.5% | 15.0% | 0.7x |
| 2022-05 | 26.2x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2022-04 | 31.3x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2022-03 | 25.0x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2022-02 | 23.6x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2022-01 | 34.1x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-12 | 27.0x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-11 | 23.1x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-10 | 23.1x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-09 | 18.1x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-08 | 20.8x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-07 | 26.1x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-06 | 18.9x | ₹787 cr | 4.2% | 7.0% | 0.6x |
| 2021-05 | 4.5x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2021-04 | 3.3x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2021-03 | 3.2x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2021-02 | 3.7x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2021-01 | 3.3x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-12 | 4.1x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-11 | 2.6x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-10 | 2.3x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-09 | 2.2x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-08 | 2.3x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-07 | 2.0x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-06 | 2.5x | ₹1290 cr | 15.5% | 15.0% | 0.9x |
| 2020-05 | 5.0x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2020-04 | 5.0x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2020-03 | 5.1x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2020-02 | 8.6x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2020-01 | 8.4x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-12 | 7.5x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-11 | 6.2x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-10 | 4.7x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-09 | 5.4x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-08 | 4.4x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-07 | 4.1x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-06 | 4.7x | ₹1351 cr | 8.2% | 10.0% | 1.6x |
| 2019-05 | 16.6x | ₹1292 cr | 3.0% | 8.0% | 2.0x |
| 2019-04 | 13.8x | ₹1292 cr | 3.0% | 8.0% | 2.0x |
| 2019-03 | 13.8x | ₹1292 cr | 3.0% | 8.0% | 2.0x |
| 2019-02 | 12.8x | ₹1292 cr | 3.0% | 8.0% | 2.0x |
| 2019-01 | 14.2x | ₹1292 cr | 3.0% | 8.0% | 2.0x |