Share price
₹106.43 latest close · −4.6% over the last 90 sessions
₹106.43 month-end · −5.3% over 12 months
₹106.43 month-end · −29.2% over 3 years
₹106.43 month-end · +402.0% since Jan '19
52-week range ₹94.55 to ₹144.00 · 1-year volatility 39.8%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 36 points, but investors now pay less per rupee of profit (P/E 31.6x to 20.6x), which took 42 points back.
- The share count barely moved.
Earnings helped, the multiple did not.
- Per-share earnings added 21 points, but investors now pay less per rupee of profit (P/E 37.3x to 20.6x), which took 50 points back.
- The share count barely moved.
Partly.
- Most of the rise came from investors paying a higher multiple (P/E 0.8x to 20.5x); per-share earnings took off 376 points.
- The share count barely moved.
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
-67.6% (2024-02 peak to 2026-04 low, not yet recovered)
-56.2% (2019-01 peak to 2019-10 low, recovered 2020-12)
-50.7% (2022-04 peak to 2023-03 low, recovered 2023-09)
Is it expensive against its own past and its peers?
Usual range 5.2x to 53.3x since 2019-01.
5% below the Non-Energy Minerals 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 Non-Energy Minerals peers?
Each cell is the company's percentile rank among its Non-Energy Minerals 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
- ROCE60th▼ 13 pts vs a year ago
- Op. margin15th▲ 3 pts vs a year ago
- Revenue growth92nd▲ 4 pts vs a year ago
- EPS growth77th▲ 63 pts vs a year ago
- Debt/equity ↓8thflat vs a year ago
- Cash cycle ↓85th▼ 4 pts vs a year ago
- P/E ↓56th▲ 21 pts vs a year ago
- 12M momentum56th▲ 45 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory
What is the price implying?
At a P/E of 23.3x, the price would imply about 17.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Fewer than six years of annual earnings are available, which is too little to measure delivered growth.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Non-Energy Minerals The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹106.43
- P/E
- 20.6x
- ROCE
- 12.0%
- Market Cap
- ₹343 cr
- Revenue (TTM)
- ₹1698 cr
- P/S
- 0.2x
- P/B
- 2.3x
- ROE
- 11.0%
- Operating Margin
- 3.3%
- Debt / Equity
- 1.4x
- Promoter Holding
- 57.1%
- 12M Momentum
- -5.3%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance109%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 108.6%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate0%Beyond threshold
Median quarterly effective tax rate over about 2.5 years: 0.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion6.56xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 6.56x (cash from operations ₹341 cr, net profit ₹52 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow5 of 5 yrsWithin range
Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-8 daysWithin range
Debtor days are below the median of the previous three fiscal years by 8 days (39 vs 47). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress54% of fixed assetsNear threshold
Capital work-in-progress is 54% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-22 days / 2 yrsWithin range
Days payable changed by -22 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, institutional and promoter holdings were broadly unchanged.
- The number of shareholders rose from 5,451 to 6,699 (+23%) 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 BEDMUTHA 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 −17% to +45% vs the market, against −5% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +14.9%, 80% range +4.0% to +26.9%), 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 · 5 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 29 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| JAYSREETEA Process Industries |
Jul 2021 | 20x | 7% | +134% | −8% | −36% |
| RBS Process Industries |
Oct 2025 | 19x | 8% | −6% | −18% | −38% |
| UGARSUGAR Process Industries |
Dec 2020 | 14x | 11% | +29% | −8% | +33% |
| WHEELS Producer Manufacturing |
Dec 2022 | 18x | 11% | −7% | −24% | −5% |
| HITECH Non-Energy Minerals |
May 2022 | 25x | 13% | +25% | −30% | +37% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SHERA Producer Manufacturing |
Mar 2025 | 22x | 20% | +3% | −37% | −27% |
| TBZ Retail Trade |
Jan 2024 | 22x | 9% | +76% | −7% | +32% |
| MANAKALUCO Non-Energy Minerals |
Jan 2023 | 19x | 10% | −9% | −19% | +25% |
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.
What changed?
24 events since Oct '19
- SepResultsYear-on-year EPS growth turned positive.
- SepPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the bottom quartile).
- JunResultsEPS (TTM) turned positive.
- JunValuationP/E crossed above the 90th percentile of its own history to date (53.7x).
- AprPriceFell 68% from the Feb 2024 peak to the Apr 2026 low.
- DecResultsEPS (TTM) turned negative.
- SepResultsYear-on-year EPS growth turned negative.
- SepPeer rankSlipped to the bottom quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
Show 16 earlier events
- JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
- JunResultsRevenue (TTM) reached a new high of ₹812 cr.
- DecValuationP/E crossed above the 90th percentile of its own history to date (42.8x).
- SepPriceRegained the 2022-04 peak, 6 months after the low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
- MarPriceFell 51% from the Apr 2022 peak to the Mar 2023 low.
- JunResultsRevenue (TTM) reached a new high of ₹660 cr.
- JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the top quartile).
- DecResultsEPS (TTM) turned positive.
- JunPriceRegained the 2020-12 peak, 3 months after the low.
- JunPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
- JunSharesShare count is up 28.0% over 12 months.
- MarPriceFell 28% from the Dec 2020 peak to the Mar 2021 low.
- DecPriceRegained the 2019-01 peak, 14 months after the low.
- OctPriceFell 56% from the Jan 2019 peak to the Oct 2019 low.
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 | 20.6x | ₹1698 cr | 11.0% | 12.0% | 1.4x |
| 2026-10 | 20.5x | ₹1698 cr | 11.0% | 12.0% | 1.4x |
| 2026-09 | 21.3x | ₹1698 cr | 11.0% | 12.0% | 1.4x |
| 2026-08 | 52.4x | ₹1467 cr | 4.3% | 12.0% | 1.4x |
| 2026-07 | 54.2x | ₹1467 cr | 4.3% | 12.0% | 1.4x |
| 2026-06 | 53.7x | ₹1467 cr | 4.3% | 12.0% | 1.4x |
| 2026-05 | — | ₹1313 cr | -4.2% | 17.0% | 1.5x |
| 2026-04 | — | ₹1313 cr | -4.2% | 17.0% | 1.5x |
| 2026-03 | — | ₹1313 cr | -4.2% | 17.0% | 1.5x |
| 2026-02 | — | ₹1230 cr | -0.0% | 17.0% | 1.5x |
| 2026-01 | — | ₹1230 cr | -0.0% | 17.0% | 1.5x |
| 2025-12 | — | ₹1230 cr | -0.0% | 17.0% | 1.5x |
| 2025-11 | 31.6x | ₹1117 cr | 7.9% | 17.0% | 1.5x |
| 2025-10 | 36.3x | ₹1117 cr | 7.9% | 17.0% | 1.5x |
| 2025-09 | 38.1x | ₹1117 cr | 7.9% | 17.0% | 1.5x |
| 2025-08 | 17.7x | ₹1049 cr | 17.1% | 17.0% | 1.5x |
| 2025-07 | 18.5x | ₹1049 cr | 17.1% | 17.0% | 1.5x |
| 2025-06 | 19.7x | ₹1049 cr | 17.1% | 17.0% | 1.5x |
| 2025-05 | 17.5x | ₹997 cr | 24.6% | 16.0% | 2.0x |
| 2025-04 | 17.6x | ₹997 cr | 24.6% | 16.0% | 2.0x |
| 2025-03 | 17.7x | ₹997 cr | 24.6% | 16.0% | 2.0x |
| 2025-02 | 14.7x | ₹915 cr | 28.2% | 16.0% | 2.0x |
| 2025-01 | 18.3x | ₹915 cr | 28.2% | 16.0% | 2.0x |
| 2024-12 | 19.0x | ₹915 cr | 28.2% | 16.0% | 2.0x |
| 2024-11 | 23.8x | ₹863 cr | 22.7% | 16.0% | 2.0x |
| 2024-10 | 25.2x | ₹863 cr | 22.7% | 16.0% | 2.0x |
| 2024-09 | 25.2x | ₹863 cr | 22.7% | 16.0% | 2.0x |
| 2024-08 | 35.6x | ₹812 cr | 17.4% | 16.0% | 2.0x |
| 2024-07 | 34.5x | ₹812 cr | 17.4% | 16.0% | 2.0x |
| 2024-06 | 35.8x | ₹812 cr | 17.4% | 16.0% | 2.0x |
| 2024-05 | 63.9x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2024-04 | 50.1x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2024-03 | 54.7x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2024-02 | 65.2x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2024-01 | 75.1x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-12 | 42.8x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-11 | 37.3x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-10 | 32.9x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-09 | 29.7x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-08 | 17.4x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-07 | 17.2x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-06 | 14.0x | ₹687 cr | 13.1% | 13.0% | 2.5x |
| 2023-05 | 18.8x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2023-04 | 19.3x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2023-03 | 20.7x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2023-02 | 18.0x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2023-01 | 20.7x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-12 | 20.5x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-11 | 22.6x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-10 | 23.5x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-09 | 23.4x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-08 | 24.3x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-07 | 24.2x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-06 | 24.6x | ₹660 cr | 10.5% | 11.0% | 3.2x |
| 2022-05 | 1.3x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2022-04 | 1.5x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2022-03 | 1.1x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2022-02 | 1.2x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2022-01 | 1.3x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-12 | 1.1x | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-11 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-10 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-09 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-08 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-07 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-06 | — | ₹387 cr | 254.5% | 71.0% | 4.0x |
| 2021-05 | — | ₹360 cr | — | -2.0% | — |
| 2021-04 | — | ₹360 cr | — | -2.0% | — |
| 2021-03 | — | ₹360 cr | — | -2.0% | — |
| 2021-02 | — | ₹360 cr | — | -2.0% | — |
| 2021-01 | — | ₹360 cr | — | -2.0% | — |
| 2020-12 | — | ₹360 cr | — | -2.0% | — |
| 2020-11 | — | ₹360 cr | — | -2.0% | — |
| 2020-10 | — | ₹360 cr | — | -2.0% | — |
| 2020-09 | — | ₹360 cr | — | -2.0% | — |
| 2020-08 | — | ₹360 cr | — | -2.0% | — |
| 2020-07 | — | ₹360 cr | — | -2.0% | — |
| 2020-06 | — | ₹360 cr | — | -2.0% | — |
| 2020-05 | — | ₹490 cr | — | -1.0% | — |
| 2020-04 | — | ₹490 cr | — | -1.0% | — |
| 2020-03 | — | ₹490 cr | — | -1.0% | — |
| 2020-02 | — | ₹490 cr | — | -1.0% | — |
| 2020-01 | — | ₹490 cr | — | -1.0% | — |
| 2019-12 | — | ₹490 cr | — | -1.0% | — |
| 2019-11 | — | ₹490 cr | — | -1.0% | — |
| 2019-10 | — | ₹490 cr | — | -1.0% | — |
| 2019-09 | — | ₹490 cr | — | -1.0% | — |
| 2019-08 | — | ₹490 cr | — | -1.0% | — |
| 2019-07 | — | ₹490 cr | — | -1.0% | — |
| 2019-06 | — | ₹490 cr | — | -1.0% | — |
| 2019-05 | — | ₹603 cr | — | -7.0% | — |
| 2019-04 | — | ₹603 cr | — | -7.0% | — |
| 2019-03 | — | ₹603 cr | — | -7.0% | — |
| 2019-02 | — | ₹603 cr | — | -7.0% | — |
| 2019-01 | — | ₹603 cr | — | -7.0% | — |