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BLISS GVS PHARMA LIMITED (BLISSGVS)

Health Technology · Pharmaceuticals: Generic · 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.77 / 100
Profitability 72Growth 58Balance 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.65 / 100
Price 97Earnings 82FII/DII 18

Passes these screensHigh MomentumDebt-light & profitableConsistent compounders

Compare withRUBICON RESEARCHMOREPEN LABORATORIESANLON HEALTHCARE

Share price

Closing priceAdjusted for splits and bonus issues.

₹654.75 latest close · +29.4% over the last 90 sessions

₹500₹600₹700Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹500₹600₹700Jul 3Sep 4Nov 9

₹654.75 month-end · +294.5% over 12 months

₹200₹400₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹400₹600Nov '25May '26Nov '26

₹654.75 month-end · +365.0% over 3 years

₹200₹400₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹400₹600Nov '23May '25Nov '26

₹654.75 month-end · +319.2% since Jan '19

₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹118.00 to ₹739.90 · 1-year volatility 61.0%

Was the rally earned?

+295%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 16.4x to 50.9x); per-share earnings added 51 points.
  • The share count barely moved.
Net profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49 ptsNet profit growthP/E change: +243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+243 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: +295%+295%Share priceNet profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49ProfitP/E change: +243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+243P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +295%+295%Share price
Net profit growth+49 ptsNet profit rose about 26%, which lifts the price.
P/E change+243 ptsThe P/E rose from 16.4x to 50.9x, which lifts the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
+365%share price, 3 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 151 points and the multiple added 214 points (P/E 20.7x to 50.9x).
  • The share count fell 3%.
Net profit growth: +145 pts. Points of the price return explained by net profit growing (or shrinking).+145 ptsNet profit growthP/E change: +214 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+214 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +365%+365%Share priceNet profit growth: +145 pts. Points of the price return explained by net profit growing (or shrinking).+145ProfitP/E change: +214 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+214P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +365%+365%Share price
Net profit growth+145 ptsNet profit rose about 84%, which lifts the price.
P/E change+214 ptsThe P/E rose from 20.7x to 50.9x, which lifts the price.
Share count change+6 ptsShare count fell 3%, which lifts the price.
+565%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 197 points and the multiple added 368 points (P/E 14.8x to 50.9x).
  • The share count barely moved.
Net profit growth: +194 pts. Points of the price return explained by net profit growing (or shrinking).+194 ptsNet profit growthP/E change: +368 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+368 ptsP/E changeShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3 ptsShare count changeShare price: +565%+565%Share priceNet profit growth: +194 pts. Points of the price return explained by net profit growing (or shrinking).+194ProfitP/E change: +368 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+368P/EShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3SharesShare price: +565%+565%Share price
Net profit growth+194 ptsNet profit rose about 92%, which lifts the price.
P/E change+368 ptsThe P/E rose from 14.8x to 50.9x, which lifts the price.
Share count change+3 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 RUBICON RESEARCH

How rough has the ride been?

Maximum drawdown-67.6%recovered 2026-02
1-year volatility61.0%annualised
Beta vs sector index1.353-year daily, correlation 0.35
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−66.9% 0%−20%−40%−60%2020202220242026−66.9%
Largest drawdowns

-67.6% (2021-01 peak to 2022-03 low, recovered 2026-02)

-55.0% (2019-04 peak to 2019-08 low, recovered 2020-12)

-17.0% (2026-06 peak to 2026-07 low, recovered 2026-08)

Most recent volume spikes

2026-09-28: 9x the 50-day median, price +4.7% 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?

50.9xP/E todayNear its historic high
Against its own history92nd percentile
CheapestMedian 17.3xDearest

Usual range 11.1x to 50.4x since 2019-01.

Against Health Technology50.9x vs 37.0x
This company
50.9x
Sector median
37.0x

38% above the Health Technology median.

7.8x23.5x39.2x54.9xJan '19Aug '20Mar '22Oct '23May '25Nov '267.8x23.5x39.2x54.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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; 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 Health Technology is valued

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).

Where it ranks today

  • ROCE62nd▲ 23 pts vs a year ago
  • Op. margin83rd▲ 22 pts vs a year ago
  • Revenue growth71st▲ 34 pts vs a year ago
  • EPS growth68th▼ 6 pts vs a year ago
  • Debt/equity ↓85th▲ 15 pts vs a year ago
  • Cash cycle ↓27th▲ 7 pts vs a year ago
  • P/E ↓30th▼ 56 pts vs a year ago
  • 12M momentum100th▲ 28 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 Health Technology sector page Watch it move against Health Technology 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 88.8x, a holder earning 12%/yr needs earnings to grow about 33.5%/yr for 10 years, then trade at 15x.

Delivered−2.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+35.4 ptsimplied minus delivered
Rank31stmost demanding of 856

Over time

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

-7%13%34% Jan 2019Nov 2026 -7%13%34% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x35.2%36.4%37.7%
15x32.3%33.5%34.7%
20x28.6%29.8%30.9%

Drag a slider to test other assumptions

Implied: 33.5%/yr

Looking back

  • Jan 2020Price implied 12%/yr; EPS has since grown −1%/yr (7.0 yrs)
  • Jan 2021Price implied 13%/yr; EPS has since grown 4%/yr (6.0 yrs)
  • Jan 2022Price implied 8%/yr; EPS has since grown 11%/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

Key figures

Share Priceclose 9 Nov
₹654.75
P/E
50.9x
ROCE
17.0%
Market Cap
₹6958 cr
Revenue (TTM)
₹1005 cr
P/S
6.9x
P/B
5.8x
ROE
11.5%
Operating Margin
27.0%
Debt / Equity
0.0x
Promoter Holding
35.0%
12M Momentum
294.5%

52-week range

₹118.00₹739.90
86% of the way from its 52-week low to its high

Price risk

1Y volatility
61.0%
Beta vs sector
1-year daily
1.26

Balance sheet & cash

Interest cover
operating profit ÷ interest
29.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.13x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance22%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 22.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 29.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.13xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.13x (cash from operations ₹348 cr, net profit ₹307 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+12 daysWithin range

Debtor days are above the median of the previous three fiscal years by 12 days (204 vs 192). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+31 days / 2 yrsNear threshold

Days payable changed by +31 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, FIIs trimmed 8.2 pts; DIIs added 2.9 pts.
  • The number of shareholders rose from 43,234 to 46,767 (+8%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters35.1%35.0%-0.1 pts
FIIs16.3%8.1%-8.2 pts
DIIs6.6%9.5%+2.9 pts
Public and others42.0%47.5%+5.5 pts

Number of shareholders

46,767shareholders+8% since Sep '23
41k45k49k53k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 43,234
Dec '23: 40,758
Mar '24: 45,157
Jun '24: 44,737
Sep '24: 52,937
Dec '24: 49,558
Mar '25: 49,517
Jun '25: 46,707
Sep '25: 44,461
Dec '25: 43,380
Mar '26: 44,874
Jun '26: 46,767
 41k45k49k53k Sep '23Sep '24Sep '25Jun '26
Sep '23: 43,234
Dec '23: 40,758
Mar '24: 45,157
Jun '24: 44,737
Sep '24: 52,937
Dec '24: 49,558
Mar '25: 49,517
Jun '25: 46,707
Sep '25: 44,461
Dec '25: 43,380
Mar '26: 44,874
Jun '26: 46,767

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

−1.7%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 BLISS GVS PHARMA 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 −37% to +34% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (+1.6%, 80% range −21.5% to +13.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ESFL · Apr 2025: −78.4% vs market
BCG · Jan 2022: −76.8% vs market
INTELLECT · Oct 2025: −53.0% vs market
ANUP · Feb 2025: −52.4% vs market
BSE · Mar 2022: −51.9% vs market
INNOVANA · Aug 2023: −51.2% vs market
MOLDTECH · May 2023: −47.8% vs market
SAKSOFT · Oct 2023: −45.4% vs market
NUCLEUS · Oct 2023: −43.9% vs market
MIDHANI · Jun 2020: −42.5% vs market
GRWRHITECH · Dec 2024: −41.2% vs market
GOLDIAM · Jan 2025: −40.4% vs market
OAL · Apr 2021: −37.4% vs market
INFOBEAN · Mar 2022: −34.8% vs market
RAILTEL · Feb 2024: −34.7% vs market
MARKSANS · Nov 2020: −32.2% vs market
VIMTALABS · Oct 2025: −29.4% vs market
IZMO · Sep 2025: −28.5% vs market
FCL · Oct 2022: −25.4% vs market
ACE · Apr 2024: −24.3% vs market
GODFRYPHLP · May 2025: −23.0% vs market
PRINCEPIPE · May 2021: −19.7% vs market
COCHINSHIP · Jun 2024: −8.7% vs market
VESUVIUS · Jul 2023: −4.4% vs market
PRAJIND · Jun 2021: −1.7% vs market
BEML · Jun 2024: −1.6% vs market
CYBERTECH · Dec 2020: −0.7% vs market
HBLENGINE · Jan 2024: +2.8% vs market
TI · Aug 2025: +9.9% vs market
SHANTIGEAR · Jan 2023: +13.6% vs market
KABRAEXTRU · Jan 2022: +14.3% vs market
CARTRADE · Sep 2025: +17.7% vs market
MASTEK · May 2021: +22.3% vs market
TDPOWERSYS · Mar 2023: +25.8% vs market
SUPRIYA · May 2025: +30.9% vs market
KRISHANA · May 2022: +33.1% vs market
GRSE · Jan 2023: +33.3% vs market
BALAMINES · Mar 2021: +33.7% vs market
AURIONPRO · Dec 2023: +33.7% vs market
MANALIPETC · Apr 2021: +35.1% vs market
BSOFT · Jan 2021: +39.7% vs market
SHAILY · Oct 2025: +47.3% vs market
BORORENEW · Dec 2020: +53.9% vs market
KRN · Oct 2025: +54.0% vs market
BLS · Jan 2023: +65.0% vs market
NEWGEN · Dec 2023: +85.3% vs market
NEULANDLAB · Jan 2024: +103.7% vs market
MAZDOCK · Jan 2023: +107.7% vs market
ACUTAAS · Aug 2025: +108.7% vs market
SAREGAMA · Mar 2021: +145.0% vs market
Similar setups −1.7%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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
−1.7%
All companies' median
−3.3%
Beat the market
46% vs 46%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SAREGAMA
Consumer Services		 Mar 2021 59x15% +717%−6% +145%
GOLDIAM
Consumer Durables		 Jan 2025 56x20% +181%−6% −40%
BORORENEW
Process Industries		 Dec 2020 51x10% +470%−2% +54%
RAILTEL
Communications		 Feb 2024 67x— +310%−5% −35%
VIMTALABS
Commercial Services		 Oct 2025 52x— +161%−17% −29%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BLS
Technology Services		 Jan 2023 67x22% +204%−10% +65%
NEULANDLAB
Health Technology		 Jan 2024 50x21% +333%−2% +104%
OAL
Process Industries		 Apr 2021 35x21% +452%−3% −37%
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: drawdown from 12-month high, size and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 BLISS GVS PHARMA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

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

SHIVALIK BIMETAL CONTROLSSBCL
Non-Energy Minerals
66%similar
promoter holdingrevenue growth
BAJAJ CONSUMER CAREBAJAJCON
Consumer Non-Durables
63%similar
debt/equityEPS growth
DATA PATTERNS INDIADATAPATTNS
Electronic Technology
61%similar
operating marginrevenue
ADF FOODSADFFOODS
Consumer Non-Durables
55%similar
promoter holdingrevenue
PARAS DEFENCE AND SPACE TECHPARAS
Electronic Technology
55%similar
ROCEoperating margin
CONCORD BIOTECHCONCORDBIO
Health Technology
49%similar
ROCEmarket cap
MOREPEN LABORATORIESMOREPENLAB
Health Technology
49%similar
promoter holdingvolatility
MARKSANS PHARMAMARKSANS
Health Technology
46%similar
EPS growthoperating margin

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

What changed?

30 events since Jul '23

  1. SepPeer rankMoved into the top quartile of Health Technology on operating margin (from the 3rd quartile).
  2. SepPriceVolume reached 9.0x its 50-day median on 2026-09-28; price +4.7% that day.
  3. AugValuationP/E crossed above the 90th percentile of its own history to date (50.5x).
  4. JunResultsRevenue (TTM) reached a new high of ₹926 cr.
  5. JunInstitutionsFII + DII holding fell 4.8 pts over 1 quarter to 15.5%.
  6. JunPeer rankMoved into the 2nd quartile of Health Technology on ROCE (from the 3rd quartile).
  7. MayPriceVolume reached 10.8x its 50-day median on 2026-05-26; price +20.0% that day.
  8. MarPeer rankSlipped to the 3rd quartile of Health Technology on operating margin (from the 2nd quartile).
Show 22 earlier events
  1. FebPriceRegained the 2021-01 peak, 47 months after the low.
  2. JanPriceVolume reached 73.8x its 50-day median on 2026-01-06; price +13.8% that day.
  3. DecPeer rankMoved into the top quartile of Health Technology on EPS growth (from the 2nd quartile).
  4. DecPriceVolume reached 97.5x its 50-day median on 2025-12-04; price +7.7% that day.
  5. SepPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the 3rd quartile).
  6. JulPriceVolume reached 41.4x its 50-day median on 2025-07-30; price +17.8% that day.
  7. JunResultsYear-on-year EPS growth turned positive.
  8. JunPeer rankSlipped to the 3rd quartile of Health Technology on ROCE (from the 2nd quartile).
  9. JunSharesShare count is up 10.0% over 12 months.
  10. JunPriceVolume reached 11.5x its 50-day median on 2025-06-11; price +11.2% that day.
  11. MarPeer rankSlipped to the 3rd quartile of Health Technology on operating margin (from the 2nd quartile).
  12. FebPriceVolume reached 9.6x its 50-day median on 2025-02-05; price +16.0% that day.
  13. DecResultsYear-on-year EPS growth turned negative.
  14. DecPeer rankSlipped to the bottom quartile of Health Technology on EPS growth (from the 3rd quartile).
  15. NovPriceVolume reached 28.6x its 50-day median on 2024-11-28; price +11.6% that day.
  16. SepPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the 3rd quartile).
  17. AugPeer rankMoved into the 2nd quartile of Health Technology on ROCE (from the 3rd quartile).
  18. AugPriceVolume reached 10.2x its 50-day median on 2024-08-21; price +6.3% that day.
  19. JunPeer rankSlipped to the 3rd quartile of Health Technology on EPS growth (from the top quartile).
  20. FebPriceVolume reached 8.2x its 50-day median on 2024-02-27; price +4.4% that day.
  21. NovPriceVolume reached 55.6x its 50-day median on 2023-11-07; price +13.3% that day.
  22. JulPriceVolume reached 28.1x its 50-day median on 2023-07-17; price +10.9% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1150.9x₹1005 cr11.5%17.0%0.0x
2026-1050.3x₹1005 cr11.5%17.0%0.0x
2026-0954.0x₹1005 cr11.5%17.0%0.0x
2026-0850.5x₹926 cr10.9%17.0%0.0x
2026-0738.1x₹926 cr10.9%17.0%0.0x
2026-0644.2x₹926 cr10.9%17.0%0.0x
2026-0541.2x₹867 cr10.5%12.0%0.1x
2026-0426.8x₹867 cr10.5%12.0%0.1x
2026-0320.9x₹867 cr10.5%12.0%0.1x
2026-0220.4x₹859 cr10.6%12.0%0.1x
2026-0117.0x₹859 cr10.6%12.0%0.1x
2025-1215.7x₹859 cr10.6%12.0%0.1x
2025-1116.4x₹833 cr10.3%12.0%0.1x
2025-1015.5x₹833 cr10.3%12.0%0.1x
2025-0915.1x₹833 cr10.3%12.0%0.1x
2025-0819.4x₹810 cr8.3%12.0%0.1x
2025-0722.0x₹810 cr8.3%12.0%0.1x
2025-0619.7x₹810 cr8.3%12.0%0.1x
2025-0523.1x₹810 cr6.9%14.0%0.1x
2025-0421.0x₹810 cr6.9%14.0%0.1x
2025-0320.8x₹810 cr6.9%14.0%0.1x
2025-0220.6x₹801 cr7.2%14.0%0.1x
2025-0124.7x₹801 cr7.2%14.0%0.1x
2024-1227.2x₹801 cr7.2%14.0%0.1x
2024-1120.8x₹795 cr8.9%14.0%0.1x
2024-1015.9x₹795 cr8.9%14.0%0.1x
2024-0916.9x₹795 cr8.9%14.0%0.1x
2024-0817.3x₹771 cr8.1%14.0%0.1x
2024-0716.9x₹771 cr8.1%14.0%0.1x
2024-0614.0x₹771 cr8.1%14.0%0.1x
2024-0515.1x₹752 cr8.4%12.0%0.1x
2024-0418.2x₹752 cr8.4%12.0%0.1x
2024-0316.6x₹752 cr8.4%12.0%0.1x
2024-0218.6x₹752 cr8.4%12.0%0.1x
2024-0116.5x₹752 cr8.4%12.0%0.1x
2023-1218.3x₹752 cr8.4%12.0%0.1x
2023-1120.7x₹752 cr8.4%12.0%0.1x
2023-1012.4x₹752 cr8.4%12.0%0.1x
2023-0913.1x₹752 cr8.4%12.0%0.1x
2023-0814.2x₹752 cr8.4%12.0%0.1x
2023-0714.7x₹752 cr8.4%12.0%0.1x
2023-0611.8x₹752 cr8.4%12.0%0.1x
2023-0550.2x₹747 cr2.7%14.0%0.1x
2023-0452.8x₹747 cr2.7%14.0%0.1x
2023-0349.1x₹747 cr2.7%14.0%0.1x
2023-0254.9x₹747 cr2.7%14.0%0.1x
2023-0153.9x₹747 cr2.7%14.0%0.1x
2022-1249.9x₹747 cr2.7%14.0%0.1x
2022-1149.8x₹747 cr2.7%14.0%0.1x
2022-1052.1x₹747 cr2.7%14.0%0.1x
2022-0953.0x₹747 cr2.7%14.0%0.1x
2022-0853.6x₹747 cr2.7%14.0%0.1x
2022-0753.4x₹747 cr2.7%14.0%0.1x
2022-0650.3x₹747 cr2.7%14.0%0.1x
2022-0512.3x₹577 cr8.8%12.0%0.2x
2022-0412.1x₹577 cr8.8%12.0%0.2x
2022-0311.6x₹577 cr8.8%12.0%0.2x
2022-0210.9x₹577 cr8.8%12.0%0.2x
2022-0114.3x₹577 cr8.8%12.0%0.2x
2021-1215.6x₹577 cr8.8%12.0%0.2x

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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