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BHANSALI ENGINEERING POLYMERS (BEPL)

Process Industries · Industrial Specialties · 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.79 / 100
Profitability 82Growth 56Balance 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.41 / 100
Price 32Earnings 47FII/DII 44

Passes these screensQuality CompounderDebt-light & profitableLittle growth priced in

Compare withASIAN PAINTS INDIASOLAR INDUSTRIES INDIAPIDILITE INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹110.62 latest close · +7.6% over the last 90 sessions

₹100₹120Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹100₹120Jul 3Sep 4Nov 9

₹110.62 month-end · +20.3% over 12 months

₹80₹100₹120Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹80₹100₹120Nov '25May '26Nov '26

₹110.62 month-end · +21.0% over 3 years

₹100₹150Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹150Nov '23May '25Nov '26

₹110.62 month-end · +142.1% since Jan '19

₹50₹100₹150Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹50₹100₹150Jan '19Dec '22Nov '26

52-week range ₹74.20 to ₹138.50 · 1-year volatility 37.3%

Was the rally earned?

+20%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 16 points to the rise, while the multiple moved less (P/E 13.3x to 13.8x).
  • The share count barely moved.
Net profit growth: +16 pts. Points of the price return explained by net profit growing (or shrinking).+16 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: +20%+20%Share priceNet profit growth: +16 pts. Points of the price return explained by net profit growing (or shrinking).+16ProfitP/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: +20%+20%Share price
Net profit growth+16 ptsNet profit rose about 16%, which lifts the price.
P/E change+4 ptsThe P/E rose from 13.3x to 13.8x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+21%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 42 points, but investors now pay less per rupee of profit (P/E 16.6x to 13.8x), which took 21 points back.
  • The share count barely moved.
Net profit growth: +42 pts. Points of the price return explained by net profit growing (or shrinking).+42 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 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: +21%+21%Share priceNet profit growth: +42 pts. Points of the price return explained by net profit growing (or shrinking).+42ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +21%+21%Share price
Net profit growth+42 ptsNet profit rose about 46%, which lifts the price.
P/E change-21 ptsThe P/E fell from 16.6x to 13.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+3%share price, 5 yearsRoughly flat
  • The share price was roughly flat over 5 years (+3%).
  • The share count barely moved.
Net profit growth: −52 pts. Points of the price return explained by net profit growing (or shrinking).−52 ptsNet profit growthP/E change: +55 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+55 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: +3%+3%Share priceNet profit growth: −52 pts. Points of the price return explained by net profit growing (or shrinking).−52ProfitP/E change: +55 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+55P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +3%+3%Share price
Net profit growth-52 ptsNet profit fell about 40%, which lowers the price.
P/E change+55 ptsThe P/E rose from 8.0x to 13.8x, 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.

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

Compare this with ASIAN PAINTS INDIA

How rough has the ride been?

Maximum drawdown-70.8%recovered 2020-10
1-year volatility37.3%annualised
Beta vs sector index1.373-year daily, correlation 0.58
Volume spikes10last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−67.7% 0%−20%−40%−60%2020202220242026−67.7%
Largest drawdowns

-70.8% (2019-01 peak to 2020-03 low, recovered 2020-10)

-58.3% (2021-10 peak to 2023-03 low, recovered 2024-07)

-55.2% (2024-09 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-10-19: 11.4x the 50-day median, price -8.6% that day

2026-07-27: 8.2x the 50-day median, price -6.0% that day

2026-07-24: 15.3x the 50-day median, price +3.9% 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?

13.8xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 14.4xDearest

Usual range 5.6x to 20.8x since 2019-01.

Against Process Industries13.8x vs 18.1x
This company
13.8x
Sector median
18.1x

24% below the Process Industries median.

4.7x16.2x27.8x39.4xJan '19Aug '20Mar '22Oct '23May '25Nov '264.7x16.2x27.8x39.4xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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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

  • ROCE89thflat vs a year ago
  • Op. margin76th▼ 6 pts vs a year ago
  • Revenue growth45th▼ 6 pts vs a year ago
  • EPS growth58th▲ 18 pts vs a year ago
  • Debt/equity ↓98thflat vs a year ago
  • Cash cycle ↓63rd▲ 4 pts vs a year ago
  • P/E ↓63rd▼ 11 pts vs a year ago
  • 12M momentum80th▲ 40 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?

~7%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 13.4x, a holder earning 12%/yr needs earnings to grow about 6.6%/yr for 10 years, then trade at 15x.

Delivered16.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−10.1 ptsimplied minus delivered
Rank705thmost demanding of 856

Over time

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

0%34%68% Jan 2019Nov 2026 0%34%68% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x7.6%8.5%9.5%
15x5.7%6.6%7.6%
20x3.2%4.1%5.1%

Drag a slider to test other assumptions

Implied: 6.6%/yr

Looking back

  • Jan 2020Price implied 15%/yr; EPS has since grown 21%/yr (7.0 yrs)
  • Jan 2021Price implied 24%/yr; EPS has since grown 18%/yr (6.0 yrs)
  • Jan 2022Price implied 14%/yr; EPS has since grown −12%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹110.62
P/E
13.8x
ROCE
24.0%
Market Cap
₹2756 cr
Revenue (TTM)
₹1440 cr
P/S
1.9x
P/B
2.5x
ROE
18.5%
Operating Margin
17.0%
Debt / Equity
0.0x
Promoter Holding
57.5%
12M Momentum
20.3%

52-week range

₹74.20₹138.50
57% of the way from its 52-week low to its high

Price risk

1Y volatility
37.3%
Beta vs sector
1-year daily
1.11

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.94x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance14%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.94xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.94x (cash from operations ₹508 cr, net profit ₹539 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+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (73 vs 67). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress23% of fixed assetsWithin range

Capital work-in-progress is 23% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+25 days / 2 yrsWithin range

Days payable changed by +25 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 3 years, institutional and promoter holdings were broadly unchanged.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters57.5%57.5%0.0 pts
FIIs0.9%1.4%+0.4 pts
DIIs0.0%0.0%0.0 pts
Public and others41.5%41.1%-0.4 pts

Number of shareholders

1.1 lakhshareholders-2% since Sep '23
1.1L1.1L1.2L1.3L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.1 lakh
Dec '23: 1.2 lakh
Mar '24: 1.2 lakh
Jun '24: 1.1 lakh
Sep '24: 1.3 lakh
Dec '24: 1.2 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.2 lakh
Dec '25: 1.2 lakh
Mar '26: 1.1 lakh
Jun '26: 1.1 lakh
 1.1L1.1L1.2L1.3L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.1 lakh
Dec '23: 1.2 lakh
Mar '24: 1.2 lakh
Jun '24: 1.1 lakh
Sep '24: 1.3 lakh
Dec '24: 1.2 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.2 lakh
Dec '25: 1.2 lakh
Mar '26: 1.1 lakh
Jun '26: 1.1 lakh

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

+9.3%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 BHANSALI ENGINEERING POLYMERS 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 −25% to +47% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (+14.4%, 80% range −1.8% to +31.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
TVTODAY · Dec 2021: −44.3% vs market
ZENSARTECH · Aug 2025: −43.0% vs market
MAZDA · Jan 2025: −41.1% vs market
EXPLEOSOL · Jun 2025: −37.8% vs market
SOTL · Apr 2024: −36.9% vs market
NUCLEUS · Sep 2025: −35.1% vs market
ALBERTDAVD · Mar 2020: −34.2% vs market
VEEDOL · Aug 2024: −31.3% vs market
BAJAJCON · Oct 2023: −29.3% vs market
DHANUKA · Mar 2025: −28.6% vs market
VARDHACRLC · Jul 2021: −27.9% vs market
SHREDIGCEM · Aug 2023: −26.5% vs market
AMBIKCO · Nov 2021: −24.9% vs market
IGL · Feb 2025: −23.6% vs market
MAHSEAMLES · Jul 2025: −23.4% vs market
SESHAPAPER · Jun 2020: −23.1% vs market
FINCABLES · May 2021: −22.3% vs market
SANDESH · Mar 2020: −21.3% vs market
LINCOLN · Feb 2024: −20.8% vs market
MOIL · Feb 2020: −8.5% vs market
IMPAL · Jun 2025: −4.4% vs market
DLINKINDIA · Mar 2020: −4.1% vs market
HONDAPOWER · Aug 2023: −1.1% vs market
FMGOETZE · Sep 2025: +3.3% vs market
STYLAMIND · Jan 2025: +6.7% vs market
MAITHANALL · Aug 2020: +11.9% vs market
GANDHITUBE · Dec 2022: +12.2% vs market
KSCL · Aug 2024: +20.2% vs market
RITES · Jun 2023: +26.9% vs market
AVANTIFEED · Jun 2025: +27.0% vs market
FIEMIND · Oct 2024: +31.7% vs market
KSL · Jul 2020: +32.3% vs market
VESUVIUS · Mar 2024: +32.6% vs market
NOCIL · Apr 2020: +33.0% vs market
MAYURUNIQ · Oct 2025: +38.6% vs market
VSTTILLERS · Feb 2025: +44.0% vs market
TECHNOE · Feb 2023: +46.1% vs market
PODDARMENT · Jul 2020: +47.5% vs market
ENGINERSIN · Jun 2023: +48.9% vs market
GPIL · Mar 2025: +53.4% vs market
SASKEN · Jul 2020: +53.9% vs market
GRSE · May 2022: +60.6% vs market
VOLTAMP · Apr 2022: +61.3% vs market
MPSLTD · Dec 2022: +66.6% vs market
SHARDACROP · May 2021: +88.5% vs market
ANUP · Mar 2023: +112.2% vs market
INDOBORAX · Sep 2025: +126.4% vs market
ACCENTMIC · Oct 2025: +145.3% vs market
MAZDOCK · May 2022: +167.5% vs market
CUPID · Sep 2023: +177.2% vs market
Similar setups +9.3%All companies −5.1%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+9.3%
All companies' median
−5.1%
Beat the market
54% vs 45%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KSCL
Process Industries		 Aug 2024 18x22% +92%−9% +20%
LINCOLN
Health Technology		 Feb 2024 19x22% +108%−7% −21%
SHREDIGCEM
Non-Energy Minerals		 Aug 2023 23x23% +42%−3% −27%
VEEDOL
Process Industries		 Aug 2024 32x24% +124%−4% −31%
STYLAMIND
Non-Energy Minerals		 Jan 2025 25x34% +19%−27% +7%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
FMGOETZE
Producer Manufacturing		 Sep 2025 14x20% +14%−15% +3%
KSL
Non-Energy Minerals		 Jul 2020 7x18% +27%−18% +32%
VOLTAMP
Producer Manufacturing		 Apr 2022 17x15% +74%−14% +61%
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, P/E and P/S. 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 BHANSALI ENGINEERING POLYMERS. 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.

JYOTHY LABSJYOTHYLAB
Consumer Non-Durables
66%similar
operating marginROCE
INDRAPRASTHA MEDICAL CORPORATIINDRAMEDCO
Health Services
62%similar
volatilityrevenue
AUTOMOTIVE AXLESAUTOAXLES
Producer Manufacturing
60%similar
P/Emarket cap
PIX TRANSMISSIONSPIXTRANS
Producer Manufacturing
60%similar
ROCEmarket cap
STYLAM INDUSTRIESSTYLAMIND
Non-Energy Minerals
60%similar
promoter holdingROCE
MAYUR UNIQUOTERSMAYURUNIQ
Process Industries
70%similar
ROCEpromoter holding
VEEDOL CORPORATIONVEEDOL
Process Industries
64%similar
ROCEmarket cap
INDIGO PAINTSINDIGOPNTS
Process Industries
62%similar
operating marginrevenue

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

What changed?

30 events since Mar '23

  1. OctPriceVolume reached 11.4x its 50-day median on 2026-10-19; price -8.6% that day.
  2. SepResultsRevenue (TTM) reached a new high of ₹1,440 cr.
  3. SepPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
  4. JulPriceVolume reached 194.7x its 50-day median on 2026-07-20; price +13.0% that day.
  5. JunResultsYear-on-year EPS growth turned positive.
  6. JunPriceVolume reached 8.5x its 50-day median on 2026-06-18; price +5.4% that day.
  7. MarPriceFell 55% from the Sep 2024 peak to the Mar 2026 low.
  8. MarPriceVolume reached 7.3x its 50-day median on 2026-03-13; price +2.1% that day.
Show 22 earlier events
  1. SepResultsYear-on-year EPS growth turned negative.
  2. SepPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  3. JulPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  4. JunResultsRevenue (TTM) reached a new high of ₹1,398 cr.
  5. JunPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  6. MayPriceVolume reached 5.3x its 50-day median on 2025-05-30; price +4.6% that day.
  7. MarPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  8. DecPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  9. OctPriceVolume reached 5.8x its 50-day median on 2024-10-10; price +9.0% that day.
  10. JulPriceRegained the 2021-10 peak, 16 months after the low.
  11. JulPriceVolume reached 29.2x its 50-day median on 2024-07-05; price +11.6% that day.
  12. JunResultsYear-on-year EPS growth turned positive.
  13. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  14. JunDividendDividend payout cut from 206% to 56% of profit.
  15. JunPriceVolume reached 31.3x its 50-day median on 2024-06-19; price +11.3% that day.
  16. JanPriceVolume reached 17.4x its 50-day median on 2024-01-02; price +10.2% that day.
  17. DecPriceVolume reached 21.8x its 50-day median on 2023-12-13; price +9.3% that day.
  18. AugPriceVolume reached 8.9x its 50-day median on 2023-08-31; price +3.3% that day.
  19. JunResultsYear-on-year EPS growth turned negative.
  20. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  21. MayPriceVolume reached 37.5x its 50-day median on 2023-05-03; price +10.6% that day.
  22. MarPriceFell 58% from the Oct 2021 peak to the Mar 2023 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1113.8x₹1440 cr18.5%24.0%0.0x
2026-1013.2x₹1440 cr18.5%24.0%0.0x
2026-0915.5x₹1440 cr18.5%24.0%0.0x
2026-0816.7x₹1276 cr16.6%24.0%0.0x
2026-0716.0x₹1276 cr16.6%24.0%0.0x
2026-0613.7x₹1276 cr16.6%24.0%0.0x
2026-0514.1x₹1279 cr16.8%25.0%0.0x
2026-0414.2x₹1279 cr16.8%25.0%0.0x
2026-0312.2x₹1279 cr16.8%25.0%0.0x
2026-0212.1x₹1324 cr16.7%25.0%0.0x
2026-0112.3x₹1324 cr16.7%25.0%0.0x
2025-1213.5x₹1324 cr16.7%25.0%0.0x
2025-1113.3x₹1366 cr17.3%25.0%0.0x
2025-1014.2x₹1366 cr17.3%25.0%0.0x
2025-0914.6x₹1366 cr17.3%25.0%0.0x
2025-0814.3x₹1398 cr18.0%25.0%0.0x
2025-0716.0x₹1398 cr18.0%25.0%0.0x
2025-0616.2x₹1398 cr18.0%25.0%0.0x
2025-0516.4x₹1374 cr19.5%24.0%0.0x
2025-0414.9x₹1374 cr19.5%24.0%0.0x
2025-0315.0x₹1374 cr19.5%24.0%0.0x
2025-0213.8x₹1320 cr19.4%24.0%0.0x
2025-0116.9x₹1320 cr19.4%24.0%0.0x
2024-1218.9x₹1320 cr19.4%24.0%0.0x
2024-1117.3x₹1267 cr19.6%24.0%0.0x
2024-1018.5x₹1267 cr19.6%24.0%0.0x
2024-0920.7x₹1267 cr19.6%24.0%0.0x
2024-0822.9x₹1222 cr19.4%24.0%0.0x
2024-0720.9x₹1222 cr19.4%24.0%0.0x
2024-0618.0x₹1222 cr19.4%24.0%0.0x
2024-0517.1x₹1363 cr12.8%19.0%0.0x
2024-0418.4x₹1363 cr12.8%19.0%0.0x
2024-0316.3x₹1363 cr12.8%19.0%0.0x
2024-0217.4x₹1363 cr12.8%19.0%0.0x
2024-0119.4x₹1363 cr12.8%19.0%0.0x
2023-1218.4x₹1363 cr12.8%19.0%0.0x
2023-1116.6x₹1363 cr12.8%19.0%0.0x
2023-1015.9x₹1363 cr12.8%19.0%0.0x
2023-0916.0x₹1363 cr12.8%19.0%0.0x
2023-0817.0x₹1363 cr12.8%19.0%0.0x
2023-0715.7x₹1363 cr12.8%19.0%0.0x
2023-0616.0x₹1363 cr12.8%19.0%0.0x
2023-057.4x₹1394 cr35.6%57.0%0.0x
2023-044.8x₹1394 cr35.6%57.0%0.0x
2023-034.6x₹1394 cr35.6%57.0%0.0x
2023-024.9x₹1394 cr35.6%57.0%0.0x
2023-015.1x₹1394 cr35.6%57.0%0.0x
2022-125.1x₹1394 cr35.6%57.0%0.0x
2022-115.3x₹1394 cr35.6%57.0%0.0x
2022-105.2x₹1394 cr35.6%57.0%0.0x
2022-095.5x₹1394 cr35.6%57.0%0.0x
2022-086.0x₹1394 cr35.6%57.0%0.0x
2022-075.2x₹1394 cr35.6%57.0%0.0x
2022-065.1x₹1394 cr35.6%57.0%0.0x
2022-055.7x₹1292 cr49.0%86.0%0.0x
2022-046.2x₹1292 cr49.0%86.0%0.0x
2022-036.3x₹1292 cr49.0%86.0%0.0x
2022-026.4x₹1292 cr49.0%86.0%0.0x
2022-016.8x₹1292 cr49.0%86.0%0.0x
2021-128.3x₹1292 cr49.0%86.0%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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