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BASF INDIA LIMITED (BASF)

Process Industries · Chemicals: Specialty · 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.84 / 100
Profitability 55Growth 97Balance 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.49 / 100
Price 4Earnings 63FII/DII 79
Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,935.4 latest close · −19.9% over the last 90 sessions

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

₹2,935.4 month-end · −29.4% over 12 months

₹3,000₹3,500₹4,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹3,000₹3,500₹4,000Nov '25May '26Nov '26

₹2,935.4 month-end · 0.0% over 3 years

₹4,000₹6,000₹8,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹6,000₹8,000Nov '23May '25Nov '26

₹2,935.4 month-end · +117.0% since Jan '19

₹2,500₹5,000₹7,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,500₹5,000₹7,500Jan '19Dec '22Nov '26

52-week range ₹2919.90 to ₹4560.00 · 1-year volatility 31.2%

Was the rally earned?

-29%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 45.5x to 19.8x), which took 70 points back.
  • The share count barely moved.
Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsNet profit growthP/E change: −70 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−70 ptsP/E changeShare price: −29%−29%Share priceNet profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41ProfitP/E change: −70 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−70P/EShare price: −29%−29%Share price
Net profit growth+41 ptsNet profit rose about 62%, which lifts the price.
P/E change-70 ptsThe P/E fell from 45.5x to 19.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
0%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (0%).
  • The share count barely moved.
Net profit growth: +333 pts. Points of the price return explained by net profit growing (or shrinking).+333 ptsNet profit growthP/E change: −334 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−334 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: 0%0%Share priceNet profit growth: +333 pts. Points of the price return explained by net profit growing (or shrinking).+333ProfitP/E change: −334 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−334P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: 0%0%Share price
Net profit growth+333 ptsNet profit growth over the period.
P/E change-334 ptsThe P/E fell from 556.0x to 19.8x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+8%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 347 points, but investors now pay less per rupee of profit (P/E 513.8x to 19.8x), which took 339 points back.
  • The share count barely moved.
Net profit growth: +347 pts. Points of the price return explained by net profit growing (or shrinking).+347 ptsNet profit growthP/E change: −339 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−339 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: +8%+8%Share priceNet profit growth: +347 pts. Points of the price return explained by net profit growing (or shrinking).+347ProfitP/E change: −339 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−339P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +8%+8%Share price
Net profit growth+347 ptsNet profit rose about 2695%, which lifts the price.
P/E change-339 ptsThe P/E fell from 513.8x to 19.8x, which lowers the price.
Share count change+1 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 LINDE INDIA

How rough has the ride been?

Maximum drawdown-65.7%not yet recovered
1-year volatility31.2%annualised
Beta vs sector index1.053-year daily, correlation 0.47
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−65.7% 0%−20%−40%−60%2020202220242026−65.7%
Largest drawdowns

-65.7% (2024-10 peak to 2026-11 low, not yet recovered)

-47.1% (2019-01 peak to 2020-02 low, recovered 2020-08)

-42.2% (2021-08 peak to 2023-02 low, recovered 2024-05)

Most recent volume spikes

2026-11-04: 19x the 50-day median, price -5.7% that day

2026-08-17: 5x the 50-day median, price -0.9% that day

2026-08-06: 11.3x the 50-day median, price +2.2% 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?

19.8xP/E todayNear its historic low
Against its own history1st percentile
CheapestMedian 215.5xDearest

Usual range 37.1x to 581.8x since 2019-01.

Against Process Industries19.8x vs 18.1x
This company
19.8x
Sector median
18.1x

9% above the Process Industries median.

6.8x274.2x541.5x808.9xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x274.2x541.5x808.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

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

  • ROCE67th▼ 9 pts vs a year ago
  • Op. margin43rd▲ 14 pts vs a year ago
  • Revenue growth48th▼ 8 pts vs a year ago
  • EPS growth81st▲ 56 pts vs a year ago
  • Debt/equity ↓85th▲ 3 pts vs a year ago
  • Cash cycle ↓83rdflat vs a year ago
  • P/E ↓47th▲ 27 pts vs a year ago
  • 12M momentum19th▼ 12 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 Process Industries sector page Watch it move against Process Industries 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 40.2x, a holder earning 12%/yr needs earnings to grow about 22.2%/yr for 10 years, then trade at 15x.

Delivered10.7%/yrEPS, last 8 fiscal years · 3-yr avg to 3-yr avg
Gap+11.5 ptsimplied minus delivered
Rank292ndmost demanding of 856

Over time

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

0%26%52% Jan 2019Nov 2026 0%26%52% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x23.6%24.7%25.9%
15x21.1%22.2%23.3%
20x17.9%18.9%20.0%

Drag a slider to test other assumptions

Implied: 22.2%/yr

Looking back

  • Jan 2020Price implied 28%/yr; EPS has since grown 9%/yr (16.0 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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2935.40
P/E
19.8x
ROCE
15.0%
Market Cap
₹12706 cr
Revenue (TTM)
₹16027 cr
P/S
0.8x
P/B
3.2x
ROE
16.2%
Operating Margin
10.0%
Debt / Equity
0.0x
Promoter Holding
73.3%
12M Momentum
-29.4%

52-week range

₹2919.90₹4560.00
1% of the way from its 52-week low to its high

Price risk

1Y volatility
31.2%
Beta vs sector
1-year daily
1.11

Balance sheet & cash

Interest cover
operating profit ÷ interest
46.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.73x
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 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 conversion0.73xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.73x (cash from operations ₹1,070 cr, net profit ₹1,462 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 (67 vs 67). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress22% of fixed assetsWithin range

Capital work-in-progress is 22% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-10 days / 2 yrsWithin range

Days payable changed by -10 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, FIIs added 1.4 pts.
  • The number of shareholders rose from 51,068 to 64,263 (+26%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters73.3%73.3%0.0 pts
FIIs3.8%5.2%+1.4 pts
DIIs6.6%6.3%-0.3 pts
Public and others16.2%15.2%-1.0 pts

Number of shareholders

64,263shareholders+26% since Dec '23
48k54k59k65k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 51,068
Mar '24: 48,219
Jun '24: 50,412
Sep '24: 54,552
Dec '24: 61,747
Mar '25: 61,334
Jun '25: 64,780
Sep '25: 63,572
Dec '25: 62,848
Mar '26: 62,474
Jun '26: 64,263
 48k54k59k65k Dec '23Dec '24Dec '25Jun '26
Dec '23: 51,068
Mar '24: 48,219
Jun '24: 50,412
Sep '24: 54,552
Dec '24: 61,747
Mar '25: 61,334
Jun '25: 64,780
Sep '25: 63,572
Dec '25: 62,848
Mar '26: 62,474
Jun '26: 64,263

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

−2.5%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 BASF INDIA 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 −20% to +18% vs the market, against −8% for all non-financial companies in the same months.
  • The gap against the base rate (+5.0%, 80% range −2.4% to +12.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ZEEL · Apr 2023: −49.5% vs market
PRINCEPIPE · Jul 2024: −46.9% vs market
DBCORP · Feb 2020: −33.6% vs market
ROSSARI · Sep 2025: −32.8% vs market
EXIDEIND · Apr 2021: −30.4% vs market
CROMPTON · Oct 2025: −28.4% vs market
IRCON · Jun 2021: −26.2% vs market
TVTODAY · Jun 2024: −26.2% vs market
GUJALKALI · Jun 2020: −25.7% vs market
TCIEXP · Oct 2025: −25.1% vs market
GALAXYSURF · Dec 2024: −22.9% vs market
LXCHEM · Apr 2025: −22.7% vs market
TEAMLEASE · Jan 2024: −21.2% vs market
DCMSHRIRAM · Aug 2023: −16.0% vs market
AHLUCONT · Jun 2025: −15.9% vs market
FMGOETZE · Sep 2023: −15.0% vs market
LUXIND · Jul 2025: −14.1% vs market
NOCIL · Sep 2023: −12.2% vs market
HONDAPOWER · Mar 2024: −11.7% vs market
AVANTIFEED · May 2023: −8.8% vs market
BSOFT · Oct 2025: −8.1% vs market
KANSAINER · Jan 2025: −6.9% vs market
JTEKTINDIA · May 2025: −5.3% vs market
CIEINDIA · Sep 2025: −4.6% vs market
CYIENT · Sep 2025: −4.5% vs market
VAIBHAVGBL · Aug 2025: −0.4% vs market
ACC · Feb 2023: +1.7% vs market
NILKAMAL · Apr 2022: +2.9% vs market
NBCC · Apr 2022: +5.1% vs market
GOODYEAR · Nov 2021: +5.8% vs market
SHYAMMETL · Dec 2024: +10.1% vs market
JUBLINGREA · Sep 2023: +11.5% vs market
RALLIS · Oct 2023: +12.1% vs market
ARE&M · Jul 2022: +12.5% vs market
IOLCP · Oct 2024: +12.5% vs market
TCI · Feb 2024: +13.2% vs market
HERITGFOOD · Sep 2022: +17.2% vs market
VEEDOL · Jan 2023: +18.0% vs market
STARCEMENT · Nov 2024: +18.6% vs market
KRBL · Dec 2024: +24.3% vs market
BANCOINDIA · Feb 2020: +32.2% vs market
KIRLOSENG · Jun 2020: +36.5% vs market
GAEL · Mar 2025: +36.8% vs market
DODLA · Nov 2022: +47.1% vs market
FINCABLES · Oct 2025: +53.3% vs market
LMW · Apr 2020: +60.2% vs market
ADOR · Aug 2025: +73.6% vs market
GODFRYPHLP · Mar 2022: +89.7% vs market
SHRIPISTON · May 2022: +102.5% vs market
GABRIEL · Nov 2024: +123.5% vs market
Similar setups −2.5%All companies −7.5%← 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
−2.5%
All companies' median
−7.5%
Beat the market
48% vs 42%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ARE&M
Producer Manufacturing		 Jul 2022 16x16% −32%−36% +13%
AVANTIFEED
Process Industries		 May 2023 24x15% −9%−24% −9%
KIRLOSENG
Producer Manufacturing		 Jun 2020 8x12% −43%−46% +37%
BSOFT
Technology Services		 Oct 2025 22x21% −32%−39% −8%
GAEL
Consumer Non-Durables		 Mar 2025 15x16% −36%−43% +37%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KANSAINER
Process Industries		 Jan 2025 30x17% −32%−32% −7%
TCI
Transportation		 Feb 2024 20x22% +28%−17% +13%
GALAXYSURF
Consumer Non-Durables		 Dec 2024 29x17% −9%−25% −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: 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 BASF INDIA 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.

ESCORTS KUBOTAESCORTS
Producer Manufacturing
70%similar
volatilityP/E
ENDURANCE TECHNOLOGIESENDURANCE
Producer Manufacturing
58%similar
revenuevolatility
MAZAGON DOCK SHIPBUILDERSMAZDOCK
Producer Manufacturing
54%similar
revenuedebt/equity
DODLA DAIRYDODLA
Consumer Non-Durables
53%similar
debt/equityvolatility
ALEMBIC PHARMACEUTICALS LIMITEAPLLTD
Health Technology
52%similar
volatilitymarket cap
PATANJALI FOODSPATANJALI
Process Industries
60%similar
volatilityrevenue
SUPREME PETROCHEMSPLPETRO
Process Industries
49%similar
market capEPS growth
AWL AGRI BUSINESSAWL
Process Industries
47%similar
P/Evolatility

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

What changed?

30 events since Feb '24

  1. NovPriceFell 66% from the Oct 2024 peak to the Nov 2026 low.
  2. NovPriceVolume reached 19.0x its 50-day median on 2026-11-04; price -5.7% that day.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepValuationP/E fell below the 10th percentile of its own history to date (23.2x).
  5. SepPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
  6. AugPriceVolume reached 50.6x its 50-day median on 2026-08-04; price +5.8% that day.
  7. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  8. JunPriceVolume reached 12.7x its 50-day median on 2026-06-23; price +4.8% that day.
Show 22 earlier events
  1. MarPriceVolume reached 7.4x its 50-day median on 2026-03-27; price -3.1% that day.
  2. FebValuationP/E fell below the 10th percentile of its own history to date (39.8x).
  3. DecPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
  4. NovPriceVolume reached 5.6x its 50-day median on 2025-11-26; price -0.7% that day.
  5. SepPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
  6. AugValuationP/E fell below the 10th percentile of its own history to date (41.6x).
  7. AugPriceVolume reached 5.6x its 50-day median on 2025-08-29; price +1.2% that day.
  8. JunResultsYear-on-year EPS growth turned negative.
  9. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the top quartile).
  10. MayPriceVolume reached 39.1x its 50-day median on 2025-05-20; price +8.2% that day.
  11. AprPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
  12. DecResultsRevenue (TTM) reached a new high of ₹14,901 cr.
  13. DecValuationP/E fell below the 10th percentile of its own history to date (37.0x).
  14. DecPriceVolume reached 18.7x its 50-day median on 2024-12-20; price +4.4% that day.
  15. AugPriceVolume reached 24.4x its 50-day median on 2024-08-08; price +9.1% that day.
  16. JunResultsYear-on-year EPS growth turned positive.
  17. JunValuationP/E fell below the 10th percentile of its own history to date (39.1x).
  18. JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
  19. JunDividendDividend payout cut from 57% to 12% of profit.
  20. MayPriceRegained the 2021-08 peak, 15 months after the low.
  21. MayPriceVolume reached 25.8x its 50-day median on 2024-05-14; price +12.7% that day.
  22. FebPriceVolume reached 13.4x its 50-day median on 2024-02-12; price +5.6% 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
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1119.8x₹16027 cr16.2%15.0%0.0x
2026-1020.5x₹16027 cr16.2%15.0%0.0x
2026-0923.2x₹16027 cr16.2%15.0%0.0x
2026-0839.0x₹15078 cr10.6%15.0%0.0x
2026-0737.4x₹15078 cr10.6%15.0%0.0x
2026-0637.1x₹15078 cr10.6%15.0%0.0x
2026-0538.9x₹14921 cr10.4%18.0%0.1x
2026-0441.7x₹14921 cr10.4%18.0%0.1x
2026-0336.8x₹14921 cr10.4%18.0%0.1x
2026-0239.8x₹14693 cr10.3%18.0%0.1x
2026-0142.1x₹14693 cr10.3%18.0%0.1x
2025-1245.7x₹14693 cr10.3%18.0%0.1x
2025-1145.5x₹15045 cr10.9%18.0%0.1x
2025-1048.2x₹15045 cr10.9%18.0%0.1x
2025-0948.1x₹15045 cr10.9%18.0%0.1x
2025-0841.6x₹15137 cr13.2%18.0%0.1x
2025-0745.1x₹15137 cr13.2%18.0%0.1x
2025-0646.6x₹15137 cr13.2%18.0%0.1x
2025-0536.8x₹15210 cr19.1%—0.0x
2025-0431.0x₹15210 cr19.1%—0.0x
2025-0331.2x₹15210 cr19.1%—0.0x
2025-0228.5x₹14901 cr20.2%—0.0x
2025-0130.7x₹14901 cr20.2%—0.0x
2024-1237.0x₹14901 cr20.2%—0.0x
2024-1146.2x₹13767 cr17.5%—0.0x
2024-1058.9x₹13767 cr17.5%—0.0x
2024-0956.8x₹13767 cr17.5%—0.0x
2024-0850.7x₹13767 cr17.5%—0.0x
2024-0747.9x₹13767 cr17.5%—0.0x
2024-0639.1x₹13767 cr17.5%—0.0x
2024-05808.9x₹7595 cr2.7%25.0%0.0x
2024-04707.7x₹7595 cr2.7%25.0%0.0x
2024-03632.0x₹7595 cr2.7%25.0%0.0x
2024-02624.9x₹7595 cr2.7%25.0%0.0x
2024-01575.3x₹7595 cr2.7%25.0%0.0x
2023-12580.7x₹7595 cr2.7%25.0%0.0x
2023-11556.0x₹7595 cr2.7%25.0%0.0x
2023-10478.0x₹7595 cr2.7%25.0%0.0x
2023-09483.8x₹7595 cr2.7%25.0%0.0x
2023-08498.5x₹7595 cr2.7%25.0%0.0x
2023-07518.9x₹7595 cr2.7%25.0%0.0x
2023-06496.9x₹7595 cr2.7%25.0%0.0x
2023-05479.5x₹7595 cr2.7%25.0%0.0x
2023-04449.5x₹7595 cr2.7%25.0%0.0x
2023-03431.0x₹7595 cr2.7%25.0%0.0x
2023-02435.8x₹7595 cr2.7%25.0%0.0x
2023-01462.0x₹7595 cr2.7%25.0%0.0x
2022-12534.0x₹7595 cr2.7%25.0%0.0x
2022-11504.0x₹7595 cr2.7%25.0%0.0x
2022-10543.3x₹7595 cr2.7%25.0%0.0x
2022-09564.5x₹7595 cr2.7%25.0%0.0x
2022-08628.8x₹7595 cr2.7%25.0%0.0x
2022-07509.8x₹7595 cr2.7%25.0%0.0x
2022-06516.8x₹7595 cr2.7%25.0%0.0x
2022-05483.8x₹7595 cr2.7%25.0%0.0x
2022-04510.3x₹7595 cr2.7%25.0%0.0x
2022-03585.8x₹7595 cr2.7%25.0%0.0x
2022-02520.8x₹7595 cr2.7%25.0%0.0x
2022-01582.5x₹7595 cr2.7%25.0%0.0x
2021-12574.1x₹7595 cr2.7%25.0%0.0x
2021-11513.8x₹7595 cr2.7%25.0%0.0x
2021-10613.8x₹7595 cr2.7%25.0%0.0x
2021-09649.2x₹7595 cr2.7%25.0%0.0x
2021-08679.3x₹7595 cr2.7%25.0%0.0x
2021-07544.7x₹7595 cr2.7%25.0%0.0x
2021-06492.3x₹7595 cr2.7%25.0%0.0x
2021-05459.1x₹7595 cr2.7%25.0%0.0x
2021-04422.1x₹7595 cr2.7%25.0%0.0x
2021-03392.0x₹7595 cr2.7%25.0%0.0x
2021-02364.9x₹7595 cr2.7%25.0%0.0x
2021-01295.7x₹7595 cr2.7%25.0%0.0x
2020-12308.4x₹7595 cr2.7%25.0%0.0x
2020-11313.7x₹7595 cr2.7%25.0%0.0x
2020-10258.1x₹7595 cr2.7%25.0%0.0x
2020-09286.3x₹7595 cr2.7%25.0%0.0x
2020-08279.7x₹7595 cr2.7%25.0%0.0x
2020-07252.4x₹7595 cr2.7%25.0%0.0x
2020-06215.5x₹7595 cr2.7%25.0%0.0x
2020-0546.1x₹1627 cr11.4%25.0%0.0x
2020-0444.7x₹1627 cr11.4%25.0%0.0x
2020-0347.8x₹1627 cr11.4%25.0%0.0x
2020-0243.6x₹1627 cr11.4%25.0%0.0x
2020-0142.0x₹1627 cr11.4%25.0%0.0x
2019-1241.9x₹1627 cr11.4%25.0%0.0x
2019-1142.5x₹1627 cr11.4%25.0%0.0x
2019-1042.6x₹1627 cr11.4%25.0%0.0x
2019-0942.5x₹1627 cr11.4%25.0%0.0x
2019-0844.7x₹1627 cr11.4%25.0%0.0x
2019-0743.4x₹1627 cr11.4%25.0%0.0x
2019-0657.1x₹1627 cr11.4%25.0%0.0x
2019-0558.7x₹1627 cr11.4%25.0%0.0x
2019-0457.9x₹1627 cr11.4%25.0%0.0x
2019-0362.8x₹1627 cr11.4%25.0%0.0x
2019-0256.0x₹1627 cr11.4%25.0%0.0x
2019-0157.4x₹1627 cr11.4%25.0%0.0x

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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