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BETA DRUGS LIMITED (BETA)

Health Technology

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.51 / 100
Profitability 67Growth 64Balance sheet 21
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.24 / 100
Price 24Earnings 24
Divergence: price ahead of business (2 months)
Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIES LIMITEDTORRENT PHARMACEUTICALS LTD

Passes these screens: Price ahead of business · Consistent compounders

Share Price
₹1798.40
P/E
41.2x
ROCE
19.0%
Market Cap
₹2000 cr
Revenue (TTM)
₹410 cr
P/S
4.9x
P/B
8.2x
ROE
19.8%
Operating Margin
22.0%
Debt / Equity
0.6x
Promoter Holding
59.1%
12M Momentum
-3.0%
P/E vs its own history68th percentilesince Feb '19
P/E vs Health Technology1.2xthe sector median

52-week range

₹990.10₹2807.90
44% of the way from its 52-week low to its high

Price risk

1Y volatility
59.7%
Beta vs sector
1-year daily
0.97

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.87x
Share count, 1Y
unchanged

Was the rally earned?

-3%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-3%).
  • The share count rose 11%.
1 year Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-7 ptsShare count change: -11 pts. Points of the price return explained by the share count changing. More shares count against the price.-11 pts -3% 1 year Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-7 ptsShare count change: -11 pts. Points of the price return explained by the share count changing. More shares count against the price.-11 pts -3%
Net profit growth+14 ptsNet profit rose about 16%, which lifts the price.
P/E change-7 ptsThe P/E fell from 44.1x to 41.2x, which lowers the price.
Share count change-10 ptsShare count rose 11%, which lowers the price.
+91%share price, 3 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 51 points and the multiple added 40 points (P/E 31.0x to 41.2x).
  • The share count rose 9%.
3 years Net profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63 ptsP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40 ptsShare count change: -12 pts. Points of the price return explained by the share count changing. More shares count against the price.-12 pts +91% 3 years Net profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63 ptsP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40 ptsShare count change: -12 pts. Points of the price return explained by the share count changing. More shares count against the price. +91%
Net profit growth+63 ptsNet profit rose about 57%, which lifts the price.
P/E change+40 ptsThe P/E rose from 31.0x to 41.2x, which lifts the price.
Share count change-12 ptsShare count rose 9%, which lowers the price.
+243%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 262 points, but investors now pay less per rupee of profit (P/E 45.2x to 41.2x), which took 18 points back.
  • The share count rose 8%.
5 years Net profit growth: +276 pts. Points of the price return explained by net profit growing (or shrinking).+276 ptsP/E change: -18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -14 pts. Points of the price return explained by the share count changing. More shares count against the price. +243% 5 years Net profit growth: +276 pts. Points of the price return explained by net profit growing (or shrinking).+276 ptsP/E change: -18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -14 pts. Points of the price return explained by the share count changing. More shares count against the price. +243%
Net profit growth+276 ptsNet profit rose about 305%, which lifts the price.
P/E change-18 ptsThe P/E fell from 45.2x to 41.2x, which lowers the price.
Share count change-14 ptsShare count rose 8%, which lowers 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 SUN PHARMACEUTICAL INDUSTRIES

Is it expensive against its own past and its peers?

41.2xP/E todayWithin its usual range
Against its own history68th percentileMedian 31.0x; usual range 8.2x to 52.0x since 2019-02.
Against Health Technology41.2x vs 35.4xAbove the Health Technology median.
4.3x27.6x50.9x74.2xFeb '19Sep '20Apr '22Nov '23Jun '25Oct '264.3x27.6x50.9x74.2xFeb '19Sep '21Apr '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianHealth Technology median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Health Technology is valued

What is the price implying?

~27%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 54.1x, a holder earning 12%/yr needs earnings to grow about 27.3%/yr for 10 years, then trade at 15x.

Delivered29.1%/yrEPS, last 9 fiscal years · 3-yr avg to 3-yr avg
Gap−1.8 ptsimplied minus delivered
Rank548thmost demanding of 843

Over time

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

-1%19%38% Feb 2019Oct 2026 -1%19%38% Feb 2019Oct 2026

Change the assumptions

Exit P/E / return11%12%13%
12x29.0%30.2%31.4%
15x26.2%27.3%28.5%
20x22.6%23.7%24.8%
Implied: 27.3%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown 24%/yr (7.0 yrs)
  • Jan 2021Price implied 9%/yr; EPS has since grown 29%/yr (6.0 yrs)
  • Jan 2022Price implied 27%/yr; EPS has since grown 28%/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 Health Technology The market-wide Expectations lists

What changed?

  1. Oct '26Fell 38% from the Aug 2026 peak to the Oct 2026 low.
  2. Oct '26Volume reached 28.4x its 50-day median on 2026-10-22; price +18.4% that day.
  3. Sep '26Promoter holding fell 5.5 pts to 59.1%.
  4. Sep '26Year-on-year EPS growth turned positive.
  5. Sep '26FII + DII holding rose 4.2 pts over 2 quarters to 7.2%.
  6. Jul '26Volume reached 23.2x its 50-day median on 2026-07-20; price +9.4% that day.
  7. Jun '26Year-on-year EPS growth turned negative.
  8. Jun '26Regained the 2024-12 peak, 4 months after the low.
Show 22 earlier events
  1. Jun '26P/E crossed above the 90th percentile of its own history to date (53.2x).
  2. Jun '26Slipped to the 2nd quartile of Health Technology on ROCE (from the top quartile).
  3. Jun '26Volume reached 16.2x its 50-day median on 2026-06-15; price +3.6% that day.
  4. Feb '26Fell 52% from the Dec 2024 peak to the Feb 2026 low.
  5. Feb '26Volume reached 26.0x its 50-day median on 2026-02-16; price -17.7% that day.
  6. Dec '25Revenue (TTM) reached a new high of ₹385 cr.
  7. Nov '25Volume reached 64.4x its 50-day median on 2025-11-13; price -0.1% that day.
  8. Jun '25Revenue (TTM) reached a new high of ₹362 cr.
  9. Jun '25Moved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  10. May '25Volume reached 5.6x its 50-day median on 2025-05-26; price +7.5% that day.
  11. Mar '25P/E crossed above the 90th percentile of its own history to date (52.8x).
  12. Nov '24Volume reached 5.1x its 50-day median on 2024-11-07; price +8.9% that day.
  13. Oct '24P/E crossed above the 90th percentile of its own history to date (50.6x).
  14. Aug '24Regained the 2023-12 peak, 5 months after the low.
  15. Aug '24Volume reached 5.9x its 50-day median on 2024-08-30; price +1.8% that day.
  16. Jun '24Revenue (TTM) reached a new high of ₹296 cr.
  17. Jun '24Slipped to the 3rd quartile of Health Technology on EPS growth (from the top quartile).
  18. May '24Volume reached 15.2x its 50-day median on 2024-05-15; price -8.0% that day.
  19. Mar '24Fell 28% from the Dec 2023 peak to the Mar 2024 low.
  20. Dec '23P/E crossed above the 90th percentile of its own history to date (46.0x).
  21. Nov '23Volume reached 6.6x its 50-day median on 2023-11-08; price +8.5% that day.
  22. Aug '23Regained the 2022-05 peak, 14 months after the 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

Are profits backed by cash?

5 of 7 checks are within range, 2 near a threshold.
Tap a check to see how it is measured.

Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 24.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.87xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.87x (cash from operations ₹104 cr, net profit ₹119 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+12 daysWithin range

Debtor days are above the median of the previous three fiscal years by 12 days (113 vs 101). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+27 days / 2 yrsWithin range

Days payable changed by +27 over two years. Bands: rise of up to 30 days; more than 30 days.

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 7.6 pts; DIIs added 6.2 pts; FIIs added 0.7 pts.
  • The number of shareholders rose from 1,928 to 7,359 (+282%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters66.7%59.1%-7.6 pts
FIIs0.3%1.0%+0.7 pts
DIIs0.0%6.2%+6.2 pts
Public and others32.9%33.6%+0.7 pts

Number of shareholders

7,359shareholders+282% since Dec '23
2k4k6k7k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 1,928
Mar '24: 2,116
Jun '24: 2,323
Sep '24: 2,567
Dec '24: 2,882
Mar '25: 3,054
Jun '25: 3,139
Sep '25: 3,184
Dec '25: 3,694
Mar '26: 4,736
Jun '26: 7,359
 2k4k6k7k Dec '23Dec '24Dec '25Jun '26
Dec '23: 1,928
Mar '24: 2,116
Jun '24: 2,323
Sep '24: 2,567
Dec '24: 2,882
Mar '25: 3,054
Jun '25: 3,139
Sep '25: 3,184
Dec '25: 3,694
Mar '26: 4,736
Jun '26: 7,359

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

How rough has the ride been?

Maximum drawdown-67.2%recovered 2020-10
1-year volatility59.7%annualised
Beta vs sector index1.053-year daily, correlation 0.30
Volume spikes8last 90 sessions, 5x the 50-day median

Monthly share price

₹38₹779₹1,519₹2,260 Feb '19Sep '20Apr '22Nov '23Jun '25Oct '26
2019-02: ₹80.00
2019-03: ₹99.70
2019-04: ₹112.30
2019-05: ₹90.90
2019-06: ₹85.70
2019-07: ₹76.65
2019-08: ₹73.25
2019-09: ₹66.65
2019-10: ₹87.00
2019-11: ₹71.90
2019-12: ₹72.30
2020-01: ₹61.90
2020-02: ₹56.90
2020-03: ₹38.10
2020-04: ₹50.55
2020-05: ₹50.35
2020-06: ₹58.55
2020-07: ₹75.35
2020-08: ₹80.35
2020-09: ₹96.20
2020-10: ₹112.40
2020-11: ₹112.95
2020-12: ₹113.40
2021-01: ₹109.10
2021-02: ₹115.30
2021-03: ₹114.30
2021-04: ₹175.20
2021-05: ₹272.45
2021-06: ₹300.00
2021-07: ₹357.15
2021-08: ₹333.35
2021-09: ₹428.55
2021-10: ₹523.80
2021-11: ₹495.25
2021-12: ₹609.75
2022-01: ₹591.45
2022-02: ₹518.55
2022-03: ₹538.55
2022-04: ₹860.45
2022-05: ₹791.50
2022-06: ₹675.55
2022-07: ₹774.30
2022-08: ₹768.90
2022-09: ₹733.45
2022-10: ₹690.50
2022-11: ₹689.65
2022-12: ₹676.20
2023-01: ₹600.00
2023-02: ₹615.25
2023-03: ₹597.10
2023-04: ₹742.85
2023-05: ₹732.05
2023-06: ₹742.85
2023-07: ₹791.65
2023-08: ₹944.50
2023-09: ₹966.65
2023-10: ₹942.85
2023-11: ₹1120.95
2023-12: ₹1400.00
2024-01: ₹1399.85
2024-02: ₹1209.50
2024-03: ₹1175.00
2024-04: ₹1284.75
2024-05: ₹1145.00
2024-06: ₹1152.40
2024-07: ₹1236.50
2024-08: ₹1612.50
2024-09: ₹1527.55
2024-10: ₹1825.30
2024-11: ₹2068.45
2024-12: ₹1913.35
2025-01: ₹1793.95
2025-02: ₹1570.85
2025-03: ₹1905.50
2025-04: ₹1790.20
2025-05: ₹1884.45
2025-06: ₹1781.50
2025-07: ₹1737.40
2025-08: ₹1874.00
2025-09: ₹1819.75
2025-10: ₹1855.00
2025-11: ₹1670.30
2025-12: ₹1549.10
2026-01: ₹1465.40
2026-02: ₹1051.60
2026-03: ₹1189.30
2026-04: ₹1330.10
2026-05: ₹1429.50
2026-06: ₹2184.70
2026-07: ₹2231.90
2026-08: ₹2259.90
2026-09: ₹2053.00
2026-10: ₹1798.40
 ₹38₹779₹1,519₹2,260 Feb '19Sep '21Apr '24Oct '26
2019-02: ₹80.00
2019-03: ₹99.70
2019-04: ₹112.30
2019-05: ₹90.90
2019-06: ₹85.70
2019-07: ₹76.65
2019-08: ₹73.25
2019-09: ₹66.65
2019-10: ₹87.00
2019-11: ₹71.90
2019-12: ₹72.30
2020-01: ₹61.90
2020-02: ₹56.90
2020-03: ₹38.10
2020-04: ₹50.55
2020-05: ₹50.35
2020-06: ₹58.55
2020-07: ₹75.35
2020-08: ₹80.35
2020-09: ₹96.20
2020-10: ₹112.40
2020-11: ₹112.95
2020-12: ₹113.40
2021-01: ₹109.10
2021-02: ₹115.30
2021-03: ₹114.30
2021-04: ₹175.20
2021-05: ₹272.45
2021-06: ₹300.00
2021-07: ₹357.15
2021-08: ₹333.35
2021-09: ₹428.55
2021-10: ₹523.80
2021-11: ₹495.25
2021-12: ₹609.75
2022-01: ₹591.45
2022-02: ₹518.55
2022-03: ₹538.55
2022-04: ₹860.45
2022-05: ₹791.50
2022-06: ₹675.55
2022-07: ₹774.30
2022-08: ₹768.90
2022-09: ₹733.45
2022-10: ₹690.50
2022-11: ₹689.65
2022-12: ₹676.20
2023-01: ₹600.00
2023-02: ₹615.25
2023-03: ₹597.10
2023-04: ₹742.85
2023-05: ₹732.05
2023-06: ₹742.85
2023-07: ₹791.65
2023-08: ₹944.50
2023-09: ₹966.65
2023-10: ₹942.85
2023-11: ₹1120.95
2023-12: ₹1400.00
2024-01: ₹1399.85
2024-02: ₹1209.50
2024-03: ₹1175.00
2024-04: ₹1284.75
2024-05: ₹1145.00
2024-06: ₹1152.40
2024-07: ₹1236.50
2024-08: ₹1612.50
2024-09: ₹1527.55
2024-10: ₹1825.30
2024-11: ₹2068.45
2024-12: ₹1913.35
2025-01: ₹1793.95
2025-02: ₹1570.85
2025-03: ₹1905.50
2025-04: ₹1790.20
2025-05: ₹1884.45
2025-06: ₹1781.50
2025-07: ₹1737.40
2025-08: ₹1874.00
2025-09: ₹1819.75
2025-10: ₹1855.00
2025-11: ₹1670.30
2025-12: ₹1549.10
2026-01: ₹1465.40
2026-02: ₹1051.60
2026-03: ₹1189.30
2026-04: ₹1330.10
2026-05: ₹1429.50
2026-06: ₹2184.70
2026-07: ₹2231.90
2026-08: ₹2259.90
2026-09: ₹2053.00
2026-10: ₹1798.40

Last 90 trading days

₹1,665₹1,999₹2,334₹2,668 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹2093.20
2026-06-25: ₹2096.60
2026-06-30: ₹2184.70
2026-07-02: ₹2155.70
2026-07-06: ₹2153.40
2026-07-08: ₹1998.00
2026-07-10: ₹2366.80
2026-07-14: ₹2310.20
2026-07-16: ₹2260.70
2026-07-20: ₹2439.40
2026-07-22: ₹2314.70
2026-07-24: ₹2315.60
2026-07-28: ₹2109.80
2026-07-30: ₹2203.40
2026-08-03: ₹2353.00
2026-08-05: ₹2366.90
2026-08-07: ₹2373.70
2026-08-11: ₹2668.30
2026-08-13: ₹2595.20
2026-08-17: ₹2432.90
2026-08-19: ₹2399.20
2026-08-21: ₹2327.70
2026-08-25: ₹2287.20
2026-08-27: ₹2194.20
2026-08-31: ₹2259.90
2026-09-02: ₹2137.00
2026-09-04: ₹2218.50
2026-09-08: ₹2139.80
2026-09-10: ₹2085.80
2026-09-15: ₹2105.20
2026-09-17: ₹2095.00
2026-09-21: ₹2074.60
2026-09-23: ₹2187.80
2026-09-25: ₹2098.70
2026-09-29: ₹2064.90
2026-10-01: ₹2073.30
2026-10-06: ₹2001.40
2026-10-08: ₹1898.00
2026-10-12: ₹1844.30
2026-10-14: ₹1699.50
2026-10-16: ₹1783.00
2026-10-21: ₹1664.70
2026-10-23: ₹1894.60
2026-10-27: ₹1934.20
2026-10-29: ₹1849.70
2026-10-30: ₹1798.40
 ₹1,665₹1,999₹2,334₹2,668 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹2093.20
2026-06-25: ₹2096.60
2026-06-30: ₹2184.70
2026-07-02: ₹2155.70
2026-07-06: ₹2153.40
2026-07-08: ₹1998.00
2026-07-10: ₹2366.80
2026-07-14: ₹2310.20
2026-07-16: ₹2260.70
2026-07-20: ₹2439.40
2026-07-22: ₹2314.70
2026-07-24: ₹2315.60
2026-07-28: ₹2109.80
2026-07-30: ₹2203.40
2026-08-03: ₹2353.00
2026-08-05: ₹2366.90
2026-08-07: ₹2373.70
2026-08-11: ₹2668.30
2026-08-13: ₹2595.20
2026-08-17: ₹2432.90
2026-08-19: ₹2399.20
2026-08-21: ₹2327.70
2026-08-25: ₹2287.20
2026-08-27: ₹2194.20
2026-08-31: ₹2259.90
2026-09-02: ₹2137.00
2026-09-04: ₹2218.50
2026-09-08: ₹2139.80
2026-09-10: ₹2085.80
2026-09-15: ₹2105.20
2026-09-17: ₹2095.00
2026-09-21: ₹2074.60
2026-09-23: ₹2187.80
2026-09-25: ₹2098.70
2026-09-29: ₹2064.90
2026-10-01: ₹2073.30
2026-10-06: ₹2001.40
2026-10-08: ₹1898.00
2026-10-12: ₹1844.30
2026-10-14: ₹1699.50
2026-10-16: ₹1783.00
2026-10-21: ₹1664.70
2026-10-23: ₹1894.60
2026-10-27: ₹1934.20
2026-10-29: ₹1849.70
2026-10-30: ₹1798.40

Drawdown from peak

0% -31% -62% Feb '19Dec '22Oct '26 0% -31% -62% Feb '19Dec '22Oct '26
Largest drawdowns

-67.2% (2019-04 peak to 2020-04 low, recovered 2020-10)

-52.0% (2024-12 peak to 2026-02 low, recovered 2026-06)

-38.4% (2022-05 peak to 2022-06 low, recovered 2023-08)

Most recent volume spikes

2026-10-23: 7.8x the 50-day median, price -3.9% that day

2026-10-22: 28.4x the 50-day median, price +18.4% that day

2026-10-15: 8.5x the 50-day median, price +3.0% 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).

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Health Technology sector page Watch it move against Health Technology in the Observatory

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CompanySectorSimilarityClosest on
SUPREME POWER EQUIPMENT (SUPREMEPWR)Producer Manufacturing63%volatility, promoter holding
SURAKSHA DIAGNOSTIC (SURAKSHA)Health Services63%revenue, debt/equity
MENON BEARINGS (MENONBE)Producer Manufacturing61%operating margin, revenue
OBSC PERFECTION (OBSCP)Producer Manufacturing57%market cap, ROCE
RACL GEARTECH (RACLGEAR)Producer Manufacturing56%debt/equity, revenue
SAKAR HEALTHCARE (SAKAR)Health Technology57%market cap, revenue
ANLON HEALTHCARE (AHCL)Health Technology56%P/E, ROCE
SMS PHARMACEUTICALS (SMSPHARMA)Health Technology55%P/E, revenue growth

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

What happened next to similar setups

−14.9%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like BETA DRUGS 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 −33% to +11% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −11.6%, 80% range −18.4% to −3.8%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SOLARA · Mar 2021: −61.3% vs market
ASIANTILES · Dec 2020: −56.4% vs market
ASTEC · Dec 2022: −50.8% vs market
TAJGVK · Aug 2020: −46.5% vs market
THEMISMED · Sep 2024: −46.5% vs market
CARYSIL · Feb 2024: −43.8% vs market
NATHBIOGEN · Mar 2021: −42.4% vs market
CAMLINFINE · Jul 2021: −41.8% vs market
ORIENTHOT · May 2025: −36.5% vs market
MATRIMONY · Aug 2021: −34.8% vs market
JINDWORLD · Mar 2023: −34.4% vs market
MIDHANI · Mar 2024: −33.5% vs market
ONEPOINT · Aug 2024: −33.5% vs market
5PAISA · Mar 2024: −32.1% vs market
SULA · Dec 2023: −28.9% vs market
RESPONIND · Jun 2024: −28.2% vs market
ROTO · Feb 2025: −26.1% vs market
SBC · Apr 2024: −25.9% vs market
MOTISONS · Feb 2025: −25.2% vs market
HIKAL · May 2021: −22.3% vs market
NELCO · Apr 2025: −19.9% vs market
CANTABIL · Jan 2023: −18.5% vs market
NRBBEARING · May 2024: −18.4% vs market
SIGACHI · Dec 2023: −17.4% vs market
GUFICBIO · Mar 2025: −16.4% vs market
JTEKTINDIA · Jan 2020: −13.5% vs market
DCXINDIA · Dec 2023: −13.3% vs market
ASAHIINDIA · Dec 2022: −13.2% vs market
GREENLAM · Dec 2023: −7.3% vs market
RAINBOW · Sep 2023: −6.2% vs market
BFUTILITIE · Mar 2020: −5.1% vs market
SIGNPOST · Sep 2025: −0.7% vs market
ARTEMISMED · Jun 2025: +4.0% vs market
GREENPLY · Mar 2021: +4.4% vs market
NEOGEN · Aug 2022: +4.8% vs market
XPROINDIA · Nov 2022: +10.2% vs market
VRLLOG · Nov 2022: +11.1% vs market
VADILALIND · May 2023: +11.5% vs market
ELGIEQUIP · Jan 2023: +16.3% vs market
TEGA · Feb 2024: +18.2% vs market
JASH · May 2024: +19.8% vs market
KOTHARIPET · Jun 2024: +27.5% vs market
CENTURYPLY · Jan 2020: +30.0% vs market
ASTRAMICRO · Feb 2025: +35.1% vs market
THEJO · Jul 2023: +38.5% vs market
VIJAYA · May 2023: +47.7% vs market
UNIVASTU · May 2023: +56.3% vs market
GTPL · Mar 2020: +59.6% vs market
SMSPHARMA · Jun 2025: +64.4% vs market
MARINE · Apr 2024: +80.8% vs market
Similar setups −14.9%All companies −3.3%← 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

Similar setups' median
−14.9%
All companies' median
−3.3%
Beat the market
36% vs 46%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MOTISONS
Retail Trade		 Feb 2025 45x17% 0%−46% −25%
CARYSIL
Consumer Durables		 Feb 2024 49x18% +87%−14% −44%
TAJGVK
Consumer Services		 Aug 2020 32x10% +19%−31% −47%
THEJO
Distribution Services		 Jul 2023 50x21% +52%−14% +39%
ASTRAMICRO
Electronic Technology		 Feb 2025 44x19% −2%−41% +35%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BFUTILITIE
Industrial Services		 Mar 2020 14x18% −26%−59% −5%
ASTEC
Process Industries		 Dec 2022 43x22% +22%−22% −51%
NELCO
Electronic Technology		 Apr 2025 95x23% +9%−44% −20%
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, P/E and 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 BETA DRUGS 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (93 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1041.2x₹410 cr19.8%19.0%0.6x
2026-0947.0x₹410 cr18.8%19.0%0.6x
2026-0855.1x₹384 cr17.1%19.0%0.6x
2026-0754.4x₹384 cr17.1%19.0%0.6x
2026-0653.2x₹384 cr17.1%19.0%0.6x
2026-0534.8x₹384 cr21.3%27.0%0.7x
2026-0432.4x₹384 cr21.3%27.0%0.7x
2026-0329.0x₹384 cr21.3%27.0%0.7x
2026-0225.3x₹385 cr21.3%27.0%0.7x
2026-0135.3x₹385 cr21.3%27.0%0.7x
2025-1237.3x₹385 cr21.3%27.0%0.7x
2025-1139.8x₹362 cr21.3%27.0%0.7x
2025-1044.1x₹362 cr21.3%27.0%0.7x
2025-0943.3x₹362 cr21.3%27.0%0.7x
2025-0844.6x₹362 cr21.3%27.0%0.7x
2025-0741.3x₹362 cr21.3%27.0%0.7x
2025-0642.4x₹362 cr21.3%27.0%0.7x
2025-0552.2x₹296 cr22.8%33.0%0.1x
2025-0449.6x₹296 cr22.8%33.0%0.1x
2025-0352.8x₹296 cr22.8%33.0%0.1x
2025-0243.5x₹296 cr22.8%33.0%0.1x
2025-0149.7x₹296 cr22.8%33.0%0.1x
2024-1253.0x₹296 cr22.8%33.0%0.1x
2024-1157.3x₹296 cr22.8%33.0%0.1x
2024-1050.6x₹296 cr22.8%33.0%0.1x
2024-0942.3x₹296 cr22.8%33.0%0.1x
2024-0844.7x₹296 cr22.8%33.0%0.1x
2024-0734.3x₹296 cr22.8%33.0%0.1x
2024-0631.9x₹296 cr22.8%33.0%0.1x
2024-0537.6x₹227 cr25.2%34.0%0.2x
2024-0442.2x₹227 cr25.2%34.0%0.2x
2024-0338.6x₹227 cr25.2%34.0%0.2x
2024-0239.8x₹227 cr25.2%34.0%0.2x
2024-0146.0x₹227 cr25.2%34.0%0.2x
2023-1246.0x₹227 cr25.2%34.0%0.2x
2023-1136.8x₹227 cr25.2%34.0%0.2x
2023-1031.0x₹227 cr25.2%34.0%0.2x
2023-0931.8x₹227 cr25.2%34.0%0.2x
2023-0831.0x₹227 cr25.2%34.0%0.2x
2023-0726.0x₹227 cr25.2%34.0%0.2x
2023-0624.4x₹227 cr25.2%34.0%0.2x
2023-0529.8x₹184 cr26.9%36.0%0.2x
2023-0430.2x₹184 cr26.9%36.0%0.2x
2023-0324.3x₹184 cr26.9%36.0%0.2x
2023-0225.0x₹184 cr26.9%36.0%0.2x
2023-0124.4x₹184 cr26.9%36.0%0.2x
2022-1227.5x₹184 cr26.9%36.0%0.2x
2022-1128.1x₹184 cr26.9%36.0%0.2x
2022-1028.1x₹184 cr26.9%36.0%0.2x
2022-0929.8x₹184 cr26.9%36.0%0.2x
2022-0831.3x₹184 cr26.9%36.0%0.2x
2022-0731.5x₹184 cr26.9%36.0%0.2x
2022-0627.5x₹184 cr26.9%36.0%0.2x
2022-0568.2x₹116 cr17.4%22.0%0.2x
2022-0474.2x₹116 cr17.4%22.0%0.2x
2022-0346.4x₹116 cr17.4%22.0%0.2x
2022-0244.7x₹116 cr17.4%22.0%0.2x
2022-0151.0x₹116 cr17.4%22.0%0.2x
2021-1252.6x₹116 cr17.4%22.0%0.2x
2021-1142.7x₹116 cr17.4%22.0%0.2x
2021-1045.2x₹116 cr17.4%22.0%0.2x
2021-0936.9x₹116 cr17.4%22.0%0.2x
2021-0828.7x₹116 cr17.4%22.0%0.2x
2021-0730.8x₹116 cr17.4%22.0%0.2x
2021-0625.9x₹116 cr17.4%22.0%0.2x
2021-0529.2x₹91 cr15.5%21.0%0.4x
2021-0418.8x₹91 cr15.5%21.0%0.4x
2021-0312.3x₹91 cr15.5%21.0%0.4x
2021-0212.4x₹91 cr15.5%21.0%0.4x
2021-0111.7x₹91 cr15.5%21.0%0.4x
2020-1212.2x₹91 cr15.5%21.0%0.4x
2020-1112.1x₹91 cr15.5%21.0%0.4x
2020-1012.0x₹91 cr15.5%21.0%0.4x
2020-0910.3x₹91 cr15.5%21.0%0.4x
2020-088.6x₹91 cr15.5%21.0%0.4x
2020-078.1x₹91 cr15.5%21.0%0.4x
2020-066.3x₹91 cr15.5%21.0%0.4x
2020-055.7x₹66 cr19.5%18.0%0.5x
2020-045.7x₹66 cr19.5%18.0%0.5x
2020-034.3x₹66 cr19.5%18.0%0.5x
2020-026.4x₹66 cr19.5%18.0%0.5x
2020-017.0x₹66 cr19.5%18.0%0.5x
2019-128.2x₹66 cr19.5%18.0%0.5x
2019-118.1x₹66 cr19.5%18.0%0.5x
2019-109.8x₹66 cr19.5%18.0%0.5x
2019-097.5x₹66 cr19.5%18.0%0.5x
2019-088.3x₹66 cr19.5%18.0%0.5x
2019-078.7x₹66 cr19.5%18.0%0.5x
2019-069.7x₹66 cr19.5%18.0%0.5x
2019-0512.2x₹51 cr21.2%—0.2x
2019-0415.1x₹51 cr21.2%—0.2x
2019-0313.4x₹51 cr21.2%—0.2x
2019-0210.8x₹51 cr21.2%—0.2x

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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