अApnaFunda
Menu

BLS INTERNATIONAL SERVICES LTD (BLS)

Technology Services · Data Processing Services · 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.81 / 100
Profitability 86Growth 82Balance sheet 76
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 25Earnings 41FII/DII 6

Passes these screensCash RichQuality CompounderValue PickDebt-light & profitableLittle growth priced inConsistent compounders

Compare withSAGILITYPINE LABSCOMPUTER AGE MANAGEMENT SERV

Share price

Closing priceAdjusted for splits and bonus issues.

₹222.01 latest close · −12.5% over the last 90 sessions

₹225₹250₹275Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹225₹250₹275Jul 3Sep 4Nov 9

₹222.01 month-end · −32.7% over 12 months

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

₹222.01 month-end · −16.2% over 3 years

₹200₹300₹400₹500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹300₹400₹500Nov '23May '25Nov '26

₹222.01 month-end · +750.6% since Jan '19

₹0₹200₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400Jan '19Dec '22Nov '26

52-week range ₹203.15 to ₹343.25 · 1-year volatility 43.2%

Was the rally earned?

-33%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 24.0x to 12.9x), which took 51 points back.
  • The share count barely moved.
Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsNet profit growthP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: −33%−33%Share priceNet profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18ProfitP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −33%−33%Share price
Net profit growth+18 ptsNet profit rose about 24%, which lifts the price.
P/E change-51 ptsThe P/E fell from 24.0x to 12.9x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-16%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 115 points, but investors now pay less per rupee of profit (P/E 54.2x to 12.9x), which took 131 points back.
  • The share count rose 4%.
Net profit growth: +119 pts. Points of the price return explained by net profit growing (or shrinking).+119 ptsNet profit growthP/E change: −131 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−131 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: −16%−16%Share priceNet profit growth: +119 pts. Points of the price return explained by net profit growing (or shrinking).+119ProfitP/E change: −131 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−131P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −16%−16%Share price
Net profit growth+119 ptsNet profit rose about 265%, which lifts the price.
P/E change-131 ptsThe P/E fell from 54.2x to 12.9x, which lowers the price.
Share count change-4 ptsShare count rose 4%, which lowers the price.
+359%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 623 points, but investors now pay less per rupee of profit (P/E 39.6x to 12.9x), which took 264 points back.
  • The share count rose 6%.
Net profit growth: +637 pts. Points of the price return explained by net profit growing (or shrinking).+637 ptsNet profit growthP/E change: −264 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−264 ptsP/E changeShare count change: −14 pts. Points of the price return explained by the share count changing. More shares count against the price.−14 ptsShare count changeShare price: +359%+359%Share priceNet profit growth: +637 pts. Points of the price return explained by net profit growing (or shrinking).+637ProfitP/E change: −264 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−264P/EShare count change: −14 pts. Points of the price return explained by the share count changing. More shares count against the price.−14SharesShare price: +359%+359%Share price
Net profit growth+637 ptsNet profit rose about 1390%, which lifts the price.
P/E change-264 ptsThe P/E fell from 39.6x to 12.9x, which lowers the price.
Share count change-14 ptsShare count rose 6%, 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 SAGILITY

How rough has the ride been?

Maximum drawdown-80.5%recovered 2021-06
1-year volatility43.2%annualised
Beta vs sector index0.693-year daily, correlation 0.30
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−79.9% 0%−25%−50%−75%2020202220242026−79.9%
Largest drawdowns

-80.5% (2019-04 peak to 2020-05 low, recovered 2021-06)

-58.8% (2025-01 peak to 2026-10 low, not yet recovered)

-38.6% (2021-09 peak to 2021-12 low, recovered 2022-04)

Most recent volume spikes

2026-10-15: 14.6x the 50-day median, price +3.4% that day

2026-08-25: 7x the 50-day median, price +0.7% that day

2026-08-24: 24.6x the 50-day median, price -11.0% 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).

Is it expensive against its own past and its peers?

12.9xP/E todayNear its historic low
Against its own history20th percentile
CheapestMedian 30.8xDearest

Usual range 7.9x to 64.8x since 2019-01.

Against Technology Services12.9x vs 21.1x
This company
12.9x
Sector median
21.1x

39% below the Technology Services median.

2.8x30.5x58.2x85.9xJan '19Aug '20Mar '22Oct '23May '25Nov '262.8x30.5x58.2x85.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services 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

  • ROCE83rd▼ 3 pts vs a year ago
  • Op. margin89thflat vs a year ago
  • Revenue growth75th▼ 8 pts vs a year ago
  • EPS growth70th▼ 15 pts vs a year ago
  • Debt/equity ↓40th▲ 13 pts vs a year ago
  • Cash cycle ↓85thflat vs a year ago
  • P/E ↓80th▲ 20 pts vs a year ago
  • 12M momentum34th▼ 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~17%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 25.3x, a holder earning 12%/yr needs earnings to grow about 17.2%/yr for 10 years, then trade at 15x.

Delivered29.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−11.8 ptsimplied minus delivered
Rank721stmost demanding of 856

Over time

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

-6%18%42% Jan 2019Nov 2026 -6%18%42% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x18.7%19.7%20.8%
15x16.2%17.2%18.3%
20x13.0%14.0%15.0%

Drag a slider to test other assumptions

Implied: 17.2%/yr

Looking back

  • Jan 2020Price implied 2%/yr; EPS has since grown 31%/yr (7.0 yrs)
  • Jan 2021Price implied 12%/yr; EPS has since grown 53%/yr (6.0 yrs)
  • Jan 2022Price implied 21%/yr; EPS has since grown 69%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹222.01
P/E
12.9x
ROCE
30.0%
Market Cap
₹9150 cr
Revenue (TTM)
₹3179 cr
P/S
2.9x
P/B
3.7x
ROE
28.7%
Operating Margin
28.0%
Debt / Equity
0.2x
Promoter Holding
70.4%
12M Momentum
-32.7%

52-week range

₹203.15₹343.25
13% of the way from its 52-week low to its high

Price risk

1Y volatility
43.2%
Beta vs sector
1-year daily
0.62

Balance sheet & cash

Interest cover
operating profit ÷ interest
34.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.31x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance11%Within range

Other income as a share of pre-tax profit (trailing twelve months): 11.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate10%Near threshold

Median quarterly effective tax rate over about 2.5 years: 10.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.31xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.31x (cash from operations ₹2,082 cr, net profit ₹1,590 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history+12 daysWithin range

Debtor days are above the median of the previous three fiscal years by 12 days (21 vs 9). 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—Not enough data

Not enough reported data to compute this.

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 3.5 pts; DIIs added 3.0 pts; promoters trimmed 1.1 pts.
  • The number of shareholders rose from 96,119 to 2.2 lakh (+133%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters71.5%70.4%-1.1 pts
FIIs7.7%4.1%-3.5 pts
DIIs0.1%3.1%+3.0 pts
Public and others20.5%22.3%+1.8 pts

Number of shareholders

2.2 lakhshareholders+133% since Sep '23
96k1.4L1.8L2.2L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 96,119
Dec '23: 1.1 lakh
Mar '24: 1.4 lakh
Jun '24: 1.5 lakh
Sep '24: 1.7 lakh
Dec '24: 1.7 lakh
Mar '25: 1.9 lakh
Jun '25: 2.1 lakh
Sep '25: 2.1 lakh
Dec '25: 2.1 lakh
Mar '26: 2.2 lakh
Jun '26: 2.2 lakh
 96k1.4L1.8L2.2L Sep '23Sep '24Sep '25Jun '26
Sep '23: 96,119
Dec '23: 1.1 lakh
Mar '24: 1.4 lakh
Jun '24: 1.5 lakh
Sep '24: 1.7 lakh
Dec '24: 1.7 lakh
Mar '25: 1.9 lakh
Jun '25: 2.1 lakh
Sep '25: 2.1 lakh
Dec '25: 2.1 lakh
Mar '26: 2.2 lakh
Jun '26: 2.2 lakh

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−12.1%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 BLS INTERNATIONAL SERVICES LTD 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 −31% to +25% vs the market, against 0% for all non-financial companies in the same months.
  • The gap against the base rate (−12.2%, 80% range −21.8% to +2.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
IPL · Aug 2023: −45.5% vs market
HSCL · Apr 2020: −43.9% vs market
KRBL · Oct 2023: −41.8% vs market
SYMPHONY · Aug 2025: −41.7% vs market
EPIGRAL · Sep 2025: −40.5% vs market
GEOJITFSL · Dec 2021: −39.4% vs market
RUPA · May 2022: −35.8% vs market
SIYSIL · Apr 2023: −35.4% vs market
EMSLIMITED · Jul 2025: −35.2% vs market
SANOFI · Nov 2024: −33.9% vs market
MARKSANS · Sep 2021: −32.7% vs market
IGPL · Nov 2021: −32.5% vs market
IIFLCAPS · May 2022: −31.7% vs market
COCHINSHIP · Dec 2020: −29.2% vs market
TANLA · Aug 2024: −27.8% vs market
NIITMTS · Oct 2024: −27.5% vs market
GRANULES · Jul 2021: −26.6% vs market
BALAMINES · Jan 2023: −26.5% vs market
SAKSOFT · Mar 2025: −23.4% vs market
RADHIKAJWE · Sep 2025: −21.3% vs market
TVTODAY · Aug 2020: −20.6% vs market
MASTEK · May 2023: −19.3% vs market
MGL · Sep 2025: −18.8% vs market
NAVNETEDUL · Aug 2020: −16.5% vs market
KSCL · Mar 2021: −13.7% vs market
EXCELINDUS · Feb 2020: −10.5% vs market
ANGELONE · Jul 2023: −4.7% vs market
DOLLAR · Mar 2023: −0.4% vs market
GREENPANEL · Dec 2022: −0.1% vs market
DEEPAKNTR · Aug 2022: +2.5% vs market
STYLAMIND · Feb 2024: +5.5% vs market
FINPIPE · Jun 2022: +7.5% vs market
FLUOROCHEM · May 2024: +11.3% vs market
BODALCHEM · Apr 2020: +15.1% vs market
CAPLIPOINT · Apr 2021: +15.5% vs market
HAL · Mar 2021: +20.8% vs market
AUTOAXLES · Feb 2020: +23.8% vs market
KPRMILL · Dec 2022: +25.7% vs market
BLISSGVS · Feb 2020: +29.0% vs market
ALLDIGI · Nov 2020: +32.9% vs market
ECLERX · Oct 2022: +35.1% vs market
DCMSHRIRAM · May 2020: +42.3% vs market
JUSTDIAL · Jun 2020: +46.4% vs market
NEWGEN · Mar 2020: +48.5% vs market
CYIENT · Mar 2020: +57.1% vs market
RSYSTEMS · May 2021: +57.6% vs market
YATHARTH · Feb 2025: +67.5% vs market
ZENSARTECH · Mar 2020: +73.2% vs market
SEAMECLTD · Nov 2020: +80.3% vs market
GODFRYPHLP · Dec 2023: +110.9% vs market
Similar setups −12.1%All companies +0.1%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median
−12.1%
All companies' median
+0.1%
Beat the market
42% vs 50%

50 past situations · 50 companies · 38 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EMSLIMITED
Industrial Services		 Jul 2025 18x27% −28%−38% −35%
GRANULES
Health Technology		 Jul 2021 17x25% +39%−11% −27%
GODFRYPHLP
Consumer Non-Durables		 Dec 2023 16x22% +7%−11% +111%
ECLERX
Commercial Services		 Oct 2022 16x34% −9%−32% +35%
COCHINSHIP
Producer Manufacturing		 Dec 2020 8x25% −8%−15% −29%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TANLA
Technology Services		 Aug 2024 23x38% −5%−23% −28%
SEAMECLTD
Industrial Services		 Nov 2020 8x25% −22%−23% +80%
NEWGEN
Technology Services		 Mar 2020 7x27% −68%−71% +49%
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, 12-month momentum and ROCE. One match per company and at most 7 from any one month.

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

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 BLS INTERNATIONAL SERVICES LTD. 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.

SANDUR MANGANESE & IRON ORES LSANDUMA
Non-Energy Minerals
79%similar
market capP/E
BANCO PRODUCTS (INDIA)BANCOINDIA
Producer Manufacturing
71%similar
market capROCE
BOROSIL RENEWABLESBORORENEW
Process Industries
69%similar
operating marginEPS growth
SEAMECSEAMECLTD
Industrial Services
63%similar
revenue growthP/E
VADILAL INDUSTRIESVADILALIND
Consumer Non-Durables
61%similar
operating margindebt/equity
SAKSOFTSAKSOFT
Technology Services
45%similar
P/EROCE
DATAMATICS GLOBAL SERVICES LIMDATAMATICS
Technology Services
44%similar
debt/equityvolatility
NEWGEN SOFTWARE TECHNOLOGIESNEWGEN
Technology Services
44%similar
ROCEmarket cap

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

What changed?

30 events since Aug '22

  1. OctPriceFell 59% from the Jan 2025 peak to the Oct 2026 low.
  2. OctPriceVolume reached 14.6x its 50-day median on 2026-10-15; price +3.4% that day.
  3. SepPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
  4. AugPriceVolume reached 24.6x its 50-day median on 2026-08-24; price -11.0% that day.
  5. AprPriceVolume reached 27.1x its 50-day median on 2026-04-08; price +10.5% that day.
  6. MarPriceVolume reached 69.1x its 50-day median on 2026-03-24; price +17.0% that day.
  7. OctPriceVolume reached 61.5x its 50-day median on 2025-10-16; price +16.5% that day.
  8. AugPriceVolume reached 11.6x its 50-day median on 2025-08-26; price +1.0% that day.
Show 22 earlier events
  1. MarInstitutionsFII + DII holding rose 3.5 pts over 2 quarters to 12.3%.
  2. JanPriceVolume reached 14.0x its 50-day median on 2025-01-17; price +11.2% that day.
  3. DecPriceVolume reached 6.4x its 50-day median on 2024-12-10; price +2.1% that day.
  4. AugPriceRegained the 2024-01 peak, 5 months after the low.
  5. AugPriceVolume reached 12.1x its 50-day median on 2024-08-06; price +10.1% that day.
  6. JunResultsRevenue (TTM) reached a new high of ₹1,677 cr.
  7. AprValuationP/E crossed above the 90th percentile of its own history to date (71.7x).
  8. MarPriceFell 31% from the Jan 2024 peak to the Mar 2024 low.
  9. MarPriceVolume reached 5.9x its 50-day median on 2024-03-15; price +3.1% that day.
  10. DecValuationP/E crossed above the 90th percentile of its own history to date (65.3x).
  11. DecPriceVolume reached 11.6x its 50-day median on 2023-12-12; price +7.0% that day.
  12. JulPriceVolume reached 5.7x its 50-day median on 2023-07-31; price +14.3% that day.
  13. JunResultsRevenue (TTM) reached a new high of ₹1,516 cr.
  14. JunPriceRegained the 2022-12 peak, 3 months after the low.
  15. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  16. JunSharesShare count is up 200.0% over 12 months.
  17. MayPriceVolume reached 12.4x its 50-day median on 2023-05-18; price -5.9% that day.
  18. MarPriceFell 26% from the Dec 2022 peak to the Mar 2023 low.
  19. MarValuationP/E crossed above the 90th percentile of its own history to date (60.9x).
  20. OctPriceVolume reached 8.7x its 50-day median on 2022-10-17; price +9.9% that day.
  21. SepPriceVolume reached 7.6x its 50-day median on 2022-09-13; price +15.4% that day.
  22. AugValuationP/E crossed above the 90th percentile of its own history to date (47.7x).

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
2026-1112.9x₹3179 cr28.7%30.0%0.2x
2026-1012.2x₹3179 cr28.7%30.0%0.2x
2026-0912.7x₹3179 cr28.7%30.0%0.2x
2026-0814.4x₹2999 cr27.9%30.0%0.2x
2026-0714.4x₹2999 cr27.9%30.0%0.2x
2026-0615.0x₹2999 cr27.9%30.0%0.2x
2026-0516.7x₹2877 cr37.4%33.0%0.2x
2026-0417.8x₹2877 cr37.4%33.0%0.2x
2026-0315.1x₹2877 cr37.4%33.0%0.2x
2026-0219.1x₹2654 cr35.1%33.0%0.2x
2026-0117.6x₹2654 cr35.1%33.0%0.2x
2025-1222.0x₹2654 cr35.1%33.0%0.2x
2025-1124.0x₹2412 cr32.9%33.0%0.2x
2025-1022.9x₹2412 cr32.9%33.0%0.2x
2025-0923.5x₹2412 cr32.9%33.0%0.2x
2025-0829.7x₹2194 cr29.6%33.0%0.2x
2025-0730.8x₹2194 cr29.6%33.0%0.2x
2025-0629.9x₹2194 cr29.6%33.0%0.2x
2025-0536.9x₹1949 cr37.7%31.0%0.0x
2025-0432.2x₹1949 cr37.7%31.0%0.0x
2025-0336.2x₹1949 cr37.7%31.0%0.0x
2025-0233.4x₹1874 cr34.5%31.0%0.0x
2025-0143.0x₹1874 cr34.5%31.0%0.0x
2024-1247.6x₹1874 cr34.5%31.0%0.0x
2024-1144.7x₹1787 cr29.5%31.0%0.0x
2024-1045.8x₹1787 cr29.5%31.0%0.0x
2024-0942.3x₹1787 cr29.5%31.0%0.0x
2024-0855.5x₹1677 cr25.5%31.0%0.0x
2024-0747.3x₹1677 cr25.5%31.0%0.0x
2024-0646.1x₹1677 cr25.5%31.0%0.0x
2024-0563.7x₹1516 cr24.1%32.0%0.0x
2024-0471.7x₹1516 cr24.1%32.0%0.0x
2024-0364.0x₹1516 cr24.1%32.0%0.0x
2024-0274.9x₹1516 cr24.1%32.0%0.0x
2024-0185.9x₹1516 cr24.1%32.0%0.0x
2023-1265.3x₹1516 cr24.1%32.0%0.0x
2023-1154.2x₹1516 cr24.1%32.0%0.0x
2023-1053.5x₹1516 cr24.1%32.0%0.0x
2023-0951.1x₹1516 cr24.1%32.0%0.0x
2023-0858.8x₹1516 cr24.1%32.0%0.0x
2023-0749.7x₹1516 cr24.1%32.0%0.0x
2023-0642.5x₹1516 cr24.1%32.0%0.0x
2023-0567.3x₹850 cr18.5%22.0%0.0x
2023-0466.0x₹850 cr18.5%22.0%0.0x
2023-0360.9x₹850 cr18.5%22.0%0.0x
2023-0257.2x₹850 cr18.5%22.0%0.0x
2023-0167.3x₹850 cr18.5%22.0%0.0x
2022-1260.8x₹850 cr18.5%22.0%0.0x
2022-1168.6x₹850 cr18.5%22.0%0.0x
2022-1059.8x₹850 cr18.5%22.0%0.0x
2022-0952.0x₹850 cr18.5%22.0%0.0x
2022-0847.7x₹850 cr18.5%22.0%0.0x
2022-0744.4x₹850 cr18.5%22.0%0.0x
2022-0635.4x₹850 cr18.5%22.0%0.0x
2022-0576.6x₹478 cr10.3%11.0%0.0x
2022-0474.1x₹478 cr10.3%11.0%0.0x
2022-0348.2x₹478 cr10.3%11.0%0.0x
2022-0244.3x₹478 cr10.3%11.0%0.0x
2022-0149.4x₹478 cr10.3%11.0%0.0x
2021-1238.7x₹478 cr10.3%11.0%0.0x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

Feedback