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BHAGIRADHA CHEMICALS AND INDUS (BHAGCHEM)

Process Industries · Chemicals: Agricultural · figures to Nov '26

Divergence: business ahead of price (2 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.50 / 100
Profitability 47Growth 41Balance sheet 62
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.47 / 100
Price 2Earnings 79FII/DII 61

Passes these screensBusiness ahead of price

Compare withFERTILIZERS AND CHEMICALS TRAVUPLSUMITOMO CHEMICAL INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹189.03 latest close · −33.3% over the last 90 sessions

₹200₹250₹300Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹250₹300Jul 3Sep 4Nov 9

₹189.03 month-end · −22.9% over 12 months

₹200₹250₹300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹250₹300Nov '25May '26Nov '26

₹189.03 month-end · +25.9% over 3 years

₹200₹300₹400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹300₹400Nov '23May '25Nov '26

₹189.03 month-end · +166.4% since Oct '21

₹200₹400Oct '21Oct '22Oct '23Nov '24Nov '25Nov '26 ₹200₹400Oct '21May '24Nov '26

52-week range ₹170.60 to ₹316.90 · 1-year volatility 45.9%

Was the rally earned?

-23%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 69 points, but investors now pay less per rupee of profit (P/E 252.8x to 89.2x), which took 92 points back.
  • The share count rose 5%.
Net profit growth: +73 pts. Points of the price return explained by net profit growing (or shrinking).+73 ptsNet profit growthP/E change: −92 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−92 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: −23%−23%Share priceNet profit growth: +73 pts. Points of the price return explained by net profit growing (or shrinking).+73ProfitP/E change: −92 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−92P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −23%−23%Share price
Net profit growth+73 ptsNet profit rose about 129%, which lifts the price.
P/E change-92 ptsThe P/E fell from 252.8x to 89.2x, which lowers the price.
Share count change-4 ptsShare count rose 5%, which lowers the price.
+26%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 34.6x to 89.2x); per-share earnings took off 81 points.
  • The share count rose 25%.
Net profit growth: −55 pts. Points of the price return explained by net profit growing (or shrinking).−55 ptsNet profit growthP/E change: +106 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+106 ptsP/E changeShare count change: −25 pts. Points of the price return explained by the share count changing. More shares count against the price.−25 ptsShare count changeShare price: +26%+26%Share priceNet profit growth: −55 pts. Points of the price return explained by net profit growing (or shrinking).−55ProfitP/E change: +106 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+106P/EShare count change: −25 pts. Points of the price return explained by the share count changing. More shares count against the price.−25SharesShare price: +26%+26%Share price
Net profit growth-55 ptsNet profit fell about 39%, which lowers the price.
P/E change+106 ptsThe P/E rose from 34.6x to 89.2x, which lifts the price.
Share count change-25 ptsShare count rose 25%, which lowers the price.
+161%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 31.9x to 89.2x); per-share earnings took off 11 points.
  • The share count rose 28%.
Net profit growth: +30 pts. Points of the price return explained by net profit growing (or shrinking).+30 ptsNet profit growthP/E change: +172 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+172 ptsP/E changeShare count change: −42 pts. Points of the price return explained by the share count changing. More shares count against the price.−42 ptsShare count changeShare price: +161%+161%Share priceNet profit growth: +30 pts. Points of the price return explained by net profit growing (or shrinking).+30ProfitP/E change: +172 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+172P/EShare count change: −42 pts. Points of the price return explained by the share count changing. More shares count against the price.−42SharesShare price: +161%+161%Share price
Net profit growth+30 ptsNet profit rose about 20%, which lifts the price.
P/E change+172 ptsThe P/E rose from 31.9x to 89.2x, which lifts the price.
Share count change-42 ptsShare count rose 28%, 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 FERTILIZERS AND CHEMICALS TRAV

How rough has the ride been?

Maximum drawdown-59.9%not yet recovered
1-year volatility45.9%annualised
Beta vs sector index1.023-year daily, correlation 0.39
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20222023202420252026−57.8% 0%−20%−40%−60%20242026−57.8%
Largest drawdowns

-59.9% (2024-08 peak to 2026-03 low, not yet recovered)

-33.3% (2022-09 peak to 2023-02 low, recovered 2023-04)

-28.8% (2023-06 peak to 2023-08 low, recovered 2024-02)

Most recent volume spikes

2026-11-03: 14.4x the 50-day median, price -7.6% that day

2026-10-15: 8.4x the 50-day median, price -3.1% that day

2026-10-08: 6.7x the 50-day median, price -5.5% 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?

89.2xP/E todayWithin its usual range
Against its own history53rd percentile
CheapestMedian 45.2xDearest

Usual range 31.3x to 241.9x since 2021-10.

Against Process Industries89.2x vs 18.1x
This company
89.2x
Sector median
18.1x

393% above the Process Industries median.

13.7x98.8x184.0x269.1xOct '21Nov '22Dec '23Jan '25Feb '26Nov '2613.7x98.8x184.0x269.1xOct '21Jul '23Apr '25Nov '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

The chart loads when you open this tab.

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

  • ROCE21stflat vs a year ago
  • Op. margin72nd▲ 37 pts vs a year ago
  • Revenue growth89th▲ 35 pts vs a year ago
  • EPS growth90th▲ 75 pts vs a year ago
  • Debt/equity ↓52nd▼ 20 pts vs a year ago
  • Cash cycle ↓35th▲ 14 pts vs a year ago
  • P/E ↓7th▲ 6 pts vs a year ago
  • 12M momentum29th▼ 10 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?

~34%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 95.3x, a holder earning 12%/yr needs earnings to grow about 34.3%/yr for 10 years, then trade at 15x.

Delivered−15.2%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+49.6 ptsimplied minus delivered
Rank12thmost demanding of 856

Over time

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

-15%13%42% Oct 2021Nov 2026 -15%13%42% Oct 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x36.1%37.3%38.5%
15x33.1%34.3%35.5%
20x29.4%30.6%31.8%

Drag a slider to test other assumptions

Implied: 34.3%/yr

Looking back

  • Jan 2022Price implied 24%/yr; EPS has since grown −14%/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
₹189.03
P/E
89.2x
ROCE
5.0%
Market Cap
₹2455 cr
Revenue (TTM)
₹607 cr
P/S
4.0x
P/B
3.5x
ROE
3.9%
Operating Margin
16.0%
Debt / Equity
0.3x
Promoter Holding
19.6%
12M Momentum
-22.9%

52-week range

₹170.60₹316.90
13% of the way from its 52-week low to its high

Price risk

1Y volatility
45.9%
Beta vs sector
1-year daily
1.06

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.14x
low
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 7checks within range2 beyond 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 rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 28.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.14xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.14x (cash from operations ₹-7 cr, net profit ₹50 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+43 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 43 days (139 vs 96). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress17% of fixed assetsWithin range

Capital work-in-progress is 17% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+54 days / 2 yrsNear threshold

Days payable changed by +54 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, promoters trimmed 3.9 pts; DIIs added 3.0 pts.
  • The number of shareholders rose from 3,941 to 13,043 (+231%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters23.5%19.6%-3.9 pts
FIIs0.1%0.1%0.0 pts
DIIs0.0%3.0%+3.0 pts
Public and others76.4%77.3%+0.9 pts

Number of shareholders

13,043shareholders+231% since Sep '23
4k8k11k15k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 3,941
Dec '23: 3,747
Mar '24: 4,292
Jun '24: 11,298
Sep '24: 15,101
Dec '24: 14,762
Mar '25: 13,883
Jun '25: 13,911
Sep '25: 13,761
Dec '25: 13,381
Mar '26: 12,815
Jun '26: 13,043
 4k8k11k15k Sep '23Sep '24Sep '25Jun '26
Sep '23: 3,941
Dec '23: 3,747
Mar '24: 4,292
Jun '24: 11,298
Sep '24: 15,101
Dec '24: 14,762
Mar '25: 13,883
Jun '25: 13,911
Sep '25: 13,761
Dec '25: 13,381
Mar '26: 12,815
Jun '26: 13,043

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

−5.4%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 BHAGIRADHA CHEMICALS AND INDUS 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 −21% to +17% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (−0.2%, 80% range −10.3% to +10.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DEN · Aug 2020: −61.4% vs market
STAR · May 2021: −59.8% vs market
SEPC · Nov 2024: −58.4% vs market
LYKALABS · Mar 2025: −54.0% vs market
MEDPLUS · Aug 2023: −43.1% vs market
SNOWMAN · Jan 2025: −41.0% vs market
HILTON · Feb 2024: −40.4% vs market
DMCC · Jul 2023: −40.1% vs market
SHILPAMED · Jun 2022: −39.2% vs market
YUKEN · May 2025: −34.4% vs market
ITI · Mar 2021: −32.1% vs market
REPRO · May 2024: −25.0% vs market
OLECTRA · Dec 2024: −21.5% vs market
SAPPHIRE · Apr 2023: −19.5% vs market
DREDGECORP · Sep 2020: −16.5% vs market
GENUSPOWER · Sep 2024: −15.7% vs market
SHALBY · Jan 2020: −15.5% vs market
AMBER · Jul 2022: −14.9% vs market
DPSCLTD · Aug 2021: −14.8% vs market
BEML · Dec 2021: −13.8% vs market
ATULAUTO · Apr 2024: −13.3% vs market
PROZONER · Feb 2020: −12.7% vs market
MIDHANI · Nov 2024: −8.6% vs market
HESTERBIO · Aug 2024: −7.0% vs market
SOBHA · Jun 2025: −6.1% vs market
SHK · Dec 2020: −4.7% vs market
HINDOILEXP · Nov 2022: −2.1% vs market
TARC · Mar 2022: −1.9% vs market
TARSONS · Oct 2025: +6.4% vs market
RESPONIND · May 2022: +6.9% vs market
SEAMECLTD · Nov 2023: +9.8% vs market
SAKAR · Jun 2024: +9.9% vs market
ORIENTHOT · Sep 2025: +10.9% vs market
SYRMA · Jun 2024: +11.8% vs market
INDOCO · Feb 2021: +12.3% vs market
SOFTTECH · Jun 2025: +15.4% vs market
BPL · Aug 2023: +16.8% vs market
SAGCEM · Feb 2020: +16.9% vs market
ASHIANA · Apr 2025: +20.3% vs market
ZENTEC · Jan 2020: +29.2% vs market
5PAISA · Dec 2022: +45.0% vs market
ASTERDM · Aug 2024: +60.3% vs market
NEOGEN · Sep 2025: +62.5% vs market
SUNTECK · Jun 2021: +68.8% vs market
DALBHARAT · Jun 2020: +71.9% vs market
RAMCOSYS · Jul 2020: +141.4% vs market
APOLLO · Oct 2024: +166.2% vs market
MTARTECH · Mar 2025: +178.2% vs market
ANANTRAJ · Jun 2022: +189.3% vs market
NEULANDLAB · Feb 2020: +260.5% vs market
Similar setups −5.4%All companies −5.2%← 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
−5.4%
All companies' median
−5.2%
Beat the market
44% vs 44%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
5PAISA
Finance		 Dec 2022 99x8% −24%−32% +45%
MIDHANI
Non-Energy Minerals		 Nov 2024 83x9% −8%−35% −9%
DREDGECORP
Transportation		 Sep 2020 132x1% −22%−34% −17%
INDOCO
Health Technology		 Feb 2021 111x6% +26%−11% +12%
TARC
Finance		 Mar 2022 174x1% +26%−38% −2%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUNTECK
Finance		 Jun 2021 103x4% +56%−23% +69%
PROZONER
Finance		 Feb 2020 103x4% −39%−49% −13%
DPSCLTD
Utilities		 Aug 2021 58x3% +33%−18% −15%
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, debt/equity and drawdown from 12-month high. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

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 BHAGIRADHA CHEMICALS AND INDUS. 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.

KOPRANKOPRAN
Health Technology
66%similar
revenuedebt/equity
ASIAN HOTELS (NORTH)ASIANHOTNR
Consumer Services
65%similar
debt/equitypromoter holding
VALOR ESTATEDBREALTY
Finance
65%similar
revenue growthROCE
GRPGRPLTD
Producer Manufacturing
63%similar
revenueEPS growth
NELCONELCO
Electronic Technology
63%similar
volatilityEPS growth
XPRO INDIAXPROINDIA
Process Industries
69%similar
market capEPS growth
GANESHA ECOSPHEREGANECOS
Process Industries
68%similar
market capROCE
TARSONS PRODUCTSTARSONS
Process Industries
63%similar
ROCEP/E

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

What changed?

30 events since Jan '24

  1. NovPriceVolume reached 14.4x its 50-day median on 2026-11-03; price -7.6% that day.
  2. SepPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
  3. AugPriceVolume reached 16.4x its 50-day median on 2026-08-03; price +2.6% that day.
  4. JunResultsYear-on-year EPS growth turned positive.
  5. JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
  6. JunPriceVolume reached 63.2x its 50-day median on 2026-06-19; price +7.8% that day.
  7. AprValuationP/E crossed above the 90th percentile of its own history to date (259.7x).
  8. MarPriceFell 60% from the Aug 2024 peak to the Mar 2026 low.
Show 22 earlier events
  1. JanPriceVolume reached 30.9x its 50-day median on 2026-01-05; price +8.2% that day.
  2. DecPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  3. DecPriceVolume reached 65.8x its 50-day median on 2025-12-18; price +9.2% that day.
  4. JulPriceVolume reached 9.4x its 50-day median on 2025-07-31; price -3.1% that day.
  5. JunValuationP/E crossed above the 90th percentile of its own history to date (268.8x).
  6. JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
  7. JunSharesShare count is up 30.0% over 12 months.
  8. AprPriceVolume reached 7.5x its 50-day median on 2025-04-24; price +8.3% that day.
  9. JanPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
  10. DecPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  11. DecPriceVolume reached 6.9x its 50-day median on 2024-12-20; price -1.3% that day.
  12. SepPromoterPromoter holding fell 3.2 pts to 20.3%.
  13. SepInstitutionsFII + DII holding rose 3.1 pts over 1 quarter to 3.3%.
  14. SepPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
  15. JulPriceVolume reached 19.3x its 50-day median on 2024-07-25; price +9.0% that day.
  16. JunResultsYear-on-year EPS growth turned negative.
  17. JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the top quartile).
  18. JunPriceVolume reached 26.5x its 50-day median on 2024-06-06; price +8.9% that day.
  19. FebPriceRegained the 2023-06 peak, 6 months after the low.
  20. FebValuationP/E crossed above the 90th percentile of its own history to date (40.4x).
  21. FebPriceVolume reached 18.4x its 50-day median on 2024-02-19; price +5.7% that day.
  22. JanDebtDebt / equity halved over 12 months to 0.16x.

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 history62 months · 2021-10 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1189.2x₹607 cr3.9%5.0%0.3x
2026-1092.1x₹607 cr4.0%5.0%0.3x
2026-09112.5x₹607 cr4.0%5.0%0.3x
2026-08200.5x₹536 cr2.7%5.0%0.3x
2026-07207.7x₹536 cr2.7%5.0%0.3x
2026-06207.9x₹536 cr2.7%5.0%0.3x
2026-05242.8x₹501 cr2.1%5.0%0.1x
2026-04259.7x₹501 cr2.1%5.0%0.1x
2026-03168.1x₹501 cr2.1%5.0%0.1x
2026-02213.0x₹490 cr1.9%5.0%0.1x
2026-01222.8x₹490 cr1.9%5.0%0.1x
2025-12231.3x₹490 cr1.9%5.0%0.1x
2025-11252.8x₹454 cr1.8%5.0%0.1x
2025-10255.4x₹454 cr1.8%5.0%0.1x
2025-09263.8x₹454 cr1.8%5.0%0.1x
2025-08233.5x₹441 cr2.1%5.0%0.1x
2025-07269.2x₹441 cr2.1%5.0%0.1x
2025-06268.8x₹441 cr2.1%5.0%0.1x
2025-05165.1x₹429 cr5.3%8.0%0.2x
2025-04159.5x₹429 cr5.3%8.0%0.2x
2025-03147.9x₹429 cr5.3%8.0%0.2x
2025-02151.5x₹400 cr5.1%8.0%0.2x
2025-01152.9x₹400 cr5.1%8.0%0.2x
2024-12157.0x₹400 cr5.1%8.0%0.2x
2024-11168.9x₹418 cr5.3%8.0%0.2x
2024-10177.0x₹418 cr5.3%8.0%0.2x
2024-09168.5x₹418 cr5.3%8.0%0.2x
2024-08231.3x₹407 cr4.4%8.0%0.2x
2024-07211.6x₹407 cr4.4%8.0%0.2x
2024-06142.7x₹407 cr4.4%8.0%0.2x
2024-0544.1x₹502 cr14.4%22.0%0.2x
2024-0445.1x₹502 cr14.4%22.0%0.2x
2024-0337.1x₹502 cr14.4%22.0%0.2x
2024-0240.4x₹502 cr14.4%22.0%0.2x
2024-0133.0x₹502 cr14.4%22.0%0.2x
2023-1235.4x₹502 cr14.4%22.0%0.2x
2023-1134.6x₹502 cr14.4%22.0%0.2x
2023-1035.1x₹502 cr14.4%22.0%0.2x
2023-0928.0x₹502 cr14.4%22.0%0.2x
2023-0827.8x₹502 cr14.4%22.0%0.2x
2023-0730.5x₹502 cr14.4%22.0%0.2x
2023-0635.3x₹502 cr14.4%22.0%0.2x
2023-0545.2x₹436 cr18.9%25.0%0.4x
2023-0439.3x₹436 cr18.9%25.0%0.4x
2023-0334.4x₹436 cr18.9%25.0%0.4x
2023-0230.2x₹436 cr18.9%25.0%0.4x
2023-0136.4x₹436 cr18.9%25.0%0.4x
2022-1237.3x₹436 cr18.9%25.0%0.4x
2022-1140.4x₹436 cr18.9%25.0%0.4x
2022-1040.2x₹436 cr18.9%25.0%0.4x
2022-0937.6x₹436 cr18.9%25.0%0.4x
2022-0838.1x₹436 cr18.9%25.0%0.4x
2022-0730.8x₹436 cr18.9%25.0%0.4x
2022-0626.8x₹436 cr18.9%25.0%0.4x
2022-0540.1x₹318 cr14.8%20.0%0.4x
2022-0441.9x₹318 cr14.8%20.0%0.4x
2022-0339.2x₹318 cr14.8%20.0%0.4x
2022-0238.9x₹318 cr14.8%20.0%0.4x
2022-0140.4x₹318 cr14.8%20.0%0.4x
2021-1237.9x₹318 cr14.8%20.0%0.4x
2021-1131.9x₹318 cr14.8%20.0%0.4x
2021-1031.3x₹318 cr14.8%20.0%0.4x

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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