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BLUE DART EXPRESS LTD (BLUEDART)

Transportation · Air Freight/Couriers · 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.52 / 100
Profitability 67Growth 37Balance sheet 50
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.38 / 100
Price 28Earnings 59FII/DII 28
Compare withDELHIVERYTVS SUPPLY CHAIN SOLUTIONSMAHINDRA LOGISTICS

Share price

Closing priceAdjusted for splits and bonus issues.

₹4,481.7 latest close · −7.6% over the last 90 sessions

₹4,500₹5,000₹5,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹4,500₹5,000₹5,500Jul 3Sep 4Nov 9

₹4,481.7 month-end · −21.6% over 12 months

₹4,500₹5,000₹5,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹4,500₹5,000₹5,500Nov '25May '26Nov '26

₹4,481.7 month-end · −36.9% over 3 years

₹4,000₹6,000₹8,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹6,000₹8,000Nov '23May '25Nov '26

₹4,481.7 month-end · +40.5% since Jan '19

₹2,500₹5,000₹7,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,500₹5,000₹7,500Jan '19Dec '22Nov '26

52-week range ₹4141.00 to ₹6540.00 · 1-year volatility 24.2%

Was the rally earned?

-22%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 13 points, but investors now pay less per rupee of profit (P/E 54.8x to 37.0x), which took 35 points back.
  • The share count barely moved.
Net profit growth: +13 pts. Points of the price return explained by net profit growing (or shrinking).+13 ptsNet profit growthP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −22%−22%Share priceNet profit growth: +13 pts. Points of the price return explained by net profit growing (or shrinking).+13ProfitP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −22%−22%Share price
Net profit growth+13 ptsNet profit rose about 16%, which lifts the price.
P/E change-35 ptsThe P/E fell from 54.8x to 37.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-37%share price, 3 yearsEarnings and multiple

Both mattered.

  • Per-share earnings took off 20 points and the multiple took off 16 points (P/E 45.5x to 37.0x).
  • The share count barely moved.
Net profit growth: −21 pts. Points of the price return explained by net profit growing (or shrinking).−21 ptsNet profit growthP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −37%−37%Share priceNet profit growth: −21 pts. Points of the price return explained by net profit growing (or shrinking).−21ProfitP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −37%−37%Share price
Net profit growth-21 ptsNet profit fell about 23%, which lowers the price.
P/E change-16 ptsThe P/E fell from 45.5x to 37.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-32%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 86 points, but investors now pay less per rupee of profit (P/E 152.7x to 37.0x), which took 118 points back.
  • The share count barely moved.
Net profit growth: +86 pts. Points of the price return explained by net profit growing (or shrinking).+86 ptsNet profit growthP/E change: −118 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−118 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −32%−32%Share priceNet profit growth: +86 pts. Points of the price return explained by net profit growing (or shrinking).+86ProfitP/E change: −118 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−118P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −32%−32%Share price
Net profit growth+86 ptsNet profit rose about 181%, which lifts the price.
P/E change-118 ptsThe P/E fell from 152.7x to 37.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

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

Compare this with DELHIVERY

How rough has the ride been?

Maximum drawdown-55.5%not yet recovered
1-year volatility24.2%annualised
Beta vs sector index0.393-year daily, correlation 0.31
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−55.5% 0%−20%−40%2020202220242026−55.5%
Largest drawdowns

-55.5% (2022-10 peak to 2026-10 low, not yet recovered)

-47.5% (2019-03 peak to 2020-08 low, recovered 2020-10)

-25.3% (2022-01 peak to 2022-03 low, recovered 2022-05)

Most recent volume spikes

2026-10-16: 7.1x the 50-day median, price -1.7% that day

2026-10-09: 6.3x the 50-day median, price +0.1% that day

2026-10-01: 6.9x the 50-day median, price -2.9% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

37.0xP/E todayNear its historic low
Against its own history4th percentile
CheapestMedian 53.3xDearest

Usual range 39.3x to 139.2x since 2019-01.

Against Transportation37.0x vs 15.9x
This company
37.0x
Sector median
15.9x

132% above the Transportation median.

10.7x65.3x119.9x174.6xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.7x65.3x119.9x174.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTransportation median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTransportation 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 Transportation is valued

Where does it rank among Transportation peers?

Each cell is the company's percentile rank among its Transportation 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

  • ROCE75th▲ 7 pts vs a year ago
  • Op. margin60th▲ 10 pts vs a year ago
  • Revenue growth38th▼ 11 pts vs a year ago
  • EPS growth57th▲ 24 pts vs a year ago
  • Debt/equity ↓47thflat vs a year ago
  • Cash cycle ↓67th▲ 5 pts vs a year ago
  • P/E ↓26th▲ 11 pts vs a year ago
  • 12M momentum27th▼ 22 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 Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

~20%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 34.1x, a holder earning 12%/yr needs earnings to grow about 20.2%/yr for 10 years, then trade at 15x.

Delivered11.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+8.8 ptsimplied minus delivered
Rank352ndmost demanding of 856

Over time

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

-26%10%45% Jan 2019Nov 2026 -26%10%45% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x21.7%22.7%23.8%
15x19.2%20.2%21.3%
20x16.0%17.0%18.1%

Drag a slider to test other assumptions

Implied: 20.2%/yr

Looking back

  • Jan 2020Price implied 24%/yr; EPS has since grown 16%/yr (7.0 yrs)
  • Jan 2022Price implied 43%/yr; EPS has since grown 19%/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 Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹4481.70
P/E
37.0x
ROCE
16.0%
Market Cap
₹10634 cr
Revenue (TTM)
₹6356 cr
P/S
1.7x
P/B
6.0x
ROE
16.2%
Operating Margin
16.0%
Debt / Equity
0.6x
Promoter Holding
75.0%
12M Momentum
-21.6%

52-week range

₹4141.00₹6540.00
14% of the way from its 52-week low to its high

Price risk

1Y volatility
24.2%
Beta vs sector
1-year daily
0.47

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.99x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance1%Within range

Other income as a share of pre-tax profit (trailing twelve months): 1.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.99xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.99x (cash from operations ₹2,392 cr, net profit ₹800 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+9 daysWithin range

Debtor days are above the median of the previous three fiscal years by 9 days (55 vs 46). 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, DIIs added 2.7 pts; FIIs trimmed 1.4 pts.
  • The number of shareholders rose from 35,019 to 37,650 (+8%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters75.0%75.0%0.0 pts
FIIs4.7%3.4%-1.4 pts
DIIs11.8%14.5%+2.7 pts
Public and others8.5%7.2%-1.3 pts

Number of shareholders

37,650shareholders+8% since Sep '23
29k32k35k38k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 35,019
Dec '23: 29,294
Mar '24: 34,031
Jun '24: 29,994
Sep '24: 30,301
Dec '24: 30,925
Mar '25: 29,904
Jun '25: 30,906
Sep '25: 34,123
Dec '25: 37,308
Mar '26: 35,375
Jun '26: 37,650
 29k32k35k38k Sep '23Sep '24Sep '25Jun '26
Sep '23: 35,019
Dec '23: 29,294
Mar '24: 34,031
Jun '24: 29,994
Sep '24: 30,301
Dec '24: 30,925
Mar '25: 29,904
Jun '25: 30,906
Sep '25: 34,123
Dec '25: 37,308
Mar '26: 35,375
Jun '26: 37,650

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

−2.3%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like BLUE DART EXPRESS 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 −13% to +16% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (+2.6%, 80% range −3.1% to +7.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%+100%
HAPPSTMNDS · Sep 2025: −41.8% vs market
RAMCOCEM · Jun 2021: −37.9% vs market
BATAINDIA · Oct 2025: −35.8% vs market
CEATLTD · Apr 2021: −34.4% vs market
GALAXYSURF · Feb 2023: −28.2% vs market
AARTIIND · May 2024: −27.0% vs market
SFL · Apr 2025: −25.9% vs market
CROMPTON · Sep 2024: −24.2% vs market
ORIENTELEC · Aug 2023: −23.7% vs market
SOMANYCERA · Mar 2023: −20.5% vs market
GMMPFAUDLR · Apr 2025: −17.3% vs market
GODREJAGRO · Apr 2023: −15.9% vs market
NILKAMAL · Jun 2021: −13.6% vs market
JYOTHYLAB · Mar 2021: −12.8% vs market
HUHTAMAKI · Jun 2020: −11.7% vs market
APLLTD · Sep 2025: −8.9% vs market
EVEREADY · Oct 2024: −8.1% vs market
TVSSRICHAK · Feb 2020: −6.9% vs market
SUPRAJIT · Aug 2024: −6.4% vs market
SUNDRMFAST · Jul 2025: −5.8% vs market
AARTIDRUGS · Nov 2022: −5.8% vs market
TRIDENT · Mar 2025: −4.7% vs market
BAJAJELEC · Feb 2022: −3.9% vs market
BALKRISIND · Oct 2025: −3.9% vs market
KNRCON · Nov 2022: −2.6% vs market
ARVINDFASN · Feb 2025: −2.1% vs market
HNDFDS · Jun 2024: −1.9% vs market
GODREJIND · Oct 2020: −0.7% vs market
MRF · Aug 2021: −0.1% vs market
CENTURYPLY · Nov 2024: +6.3% vs market
IPCALAB · Aug 2023: +7.6% vs market
MINDACORP · Dec 2024: +11.1% vs market
EPL · Jul 2022: +14.1% vs market
VGUARD · Jan 2024: +15.3% vs market
APOLLOHOSP · Apr 2024: +15.4% vs market
ALKEM · Sep 2023: +15.6% vs market
JKCEMENT · Jan 2023: +15.8% vs market
BANARISUG · Jun 2021: +16.3% vs market
GREENLAM · Jun 2021: +28.7% vs market
GUFICBIO · Oct 2025: +34.3% vs market
JKLAKSHMI · Jun 2020: +39.7% vs market
ASAHIINDIA · Aug 2024: +43.0% vs market
BLUESTARCO · Jan 2022: +43.1% vs market
SANSERA · Nov 2023: +46.2% vs market
JUBLFOOD · Apr 2024: +52.0% vs market
PRIVISCL · Aug 2024: +63.2% vs market
TORNTPOWER · Jan 2023: +66.2% vs market
VRLLOG · Mar 2021: +72.5% vs market
BHARATFORG · Aug 2025: +76.6% vs market
ELGIEQUIP · Mar 2020: +89.5% vs market
Similar setups −2.3%All companies −4.9%← 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
−2.3%
All companies' median
−4.9%
Beat the market
42% vs 44%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GODREJAGRO
Process Industries		 Apr 2023 21x16% −20%−24% −16%
SANSERA
Producer Manufacturing		 Nov 2023 30x14% +7%−13% +46%
GODREJIND
Process Industries		 Oct 2020 22x10% −12%−21% −1%
CEATLTD
Consumer Durables		 Apr 2021 24x10% +72%−17% −34%
VGUARD
Producer Manufacturing		 Jan 2024 67x15% +19%−8% +15%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BATAINDIA
Consumer Non-Durables		 Oct 2025 64x15% −21%−27% −36%
CENTURYPLY
Producer Manufacturing		 Nov 2024 59x18% +12%−21% +6%
SUPRAJIT
Producer Manufacturing		 Aug 2024 43x12% +24%−16% −6%
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, drawdown from 12-month high 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 BLUE DART EXPRESS 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.

TRIDENTTRIDENT
Process Industries
69%similar
revenuemarket cap
CENTURY PLYBOARDS (INDIA)CENTURYPLY
Producer Manufacturing
66%similar
EPS growthrevenue
CEIGALL INDIACEIGALL
Industrial Services
65%similar
debt/equitypromoter holding
JSW CEMENTJSWCEMENT
Non-Energy Minerals
59%similar
operating marginrevenue
METRO BRANDSMETROBRAND
Retail Trade
59%similar
debt/equityvolatility
VRL LOGISTICSVRLLOG
Transportation
50%similar
EPS growthrevenue growth
TRANSPORT CORPORATION OF INDIATCI
Transportation
39%similar
revenuerevenue growth
CONTAINER CORPORATION OF INDIACONCOR
Transportation
36%similar
revenuevolatility

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

What changed?

30 events since Dec '22

  1. OctPriceFell 56% from the Oct 2022 peak to the Oct 2026 low.
  2. OctPriceVolume reached 7.1x its 50-day median on 2026-10-16; price -1.7% that day.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepValuationP/E fell below the 10th percentile of its own history to date (38.3x).
  5. SepPeer rankMoved into the 2nd quartile of Transportation on EPS growth (from the 3rd quartile).
  6. AugPriceVolume reached 69.4x its 50-day median on 2026-08-03; price +5.2% that day.
  7. MayPriceVolume reached 7.8x its 50-day median on 2026-05-11; price -7.5% that day.
  8. JanPriceVolume reached 28.3x its 50-day median on 2026-01-01; price +2.8% that day.
Show 22 earlier events
  1. OctPriceVolume reached 313.7x its 50-day median on 2025-10-29; price +18.7% that day.
  2. SepPriceVolume reached 95.8x its 50-day median on 2025-09-30; price +2.2% that day.
  3. AugPeer rankMoved into the 3rd quartile of Transportation on EPS growth (from the bottom quartile).
  4. JunPeer rankSlipped to the bottom quartile of Transportation on EPS growth (from the 3rd quartile).
  5. MayPriceVolume reached 5.4x its 50-day median on 2025-05-27; price -5.2% that day.
  6. MarPriceVolume reached 56.8x its 50-day median on 2025-03-25; price +8.5% that day.
  7. OctPriceVolume reached 32.8x its 50-day median on 2024-10-01; price +5.3% that day.
  8. SepPriceVolume reached 117.6x its 50-day median on 2024-09-17; price +12.4% that day.
  9. AugPeer rankSlipped to the 2nd quartile of Transportation on ROCE (from the top quartile).
  10. JunResultsRevenue (TTM) reached a new high of ₹5,268 cr.
  11. MayPriceVolume reached 17.0x its 50-day median on 2024-05-06; price +7.0% that day.
  12. MarPriceVolume reached 17.9x its 50-day median on 2024-03-19; price -1.6% that day.
  13. FebValuationP/E fell below the 10th percentile of its own history to date (38.6x).
  14. OctPriceVolume reached 5.2x its 50-day median on 2023-10-12; price +0.8% that day.
  15. AugPriceVolume reached 7.3x its 50-day median on 2023-08-01; price -1.7% that day.
  16. JunResultsYear-on-year EPS growth turned negative.
  17. JunPeer rankSlipped to the 3rd quartile of Transportation on EPS growth (from the top quartile).
  18. JunDebtDebt / equity fell below 1.0x (0.95x).
  19. JunPriceVolume reached 13.0x its 50-day median on 2023-06-21; price +7.2% that day.
  20. FebPriceVolume reached 7.1x its 50-day median on 2023-02-02; price +1.6% that day.
  21. JanDebtDebt / equity halved over 12 months to 1.22x.
  22. DecPriceVolume reached 5.8x its 50-day median on 2022-12-01; price -0.8% 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
2026-1137.0x₹6356 cr16.2%16.0%0.6x
2026-1034.5x₹6356 cr16.1%16.0%0.6x
2026-0938.3x₹6356 cr16.1%16.0%0.6x
2026-0847.2x₹6140 cr13.9%16.0%0.6x
2026-0749.5x₹6140 cr13.9%16.0%0.6x
2026-0646.7x₹6140 cr13.9%16.0%0.6x
2026-0544.3x₹6024 cr16.2%16.0%0.6x
2026-0451.1x₹6024 cr16.2%16.0%0.6x
2026-0344.4x₹6024 cr16.2%16.0%0.6x
2026-0250.6x₹5920 cr17.1%16.0%0.6x
2026-0148.9x₹5920 cr17.1%16.0%0.6x
2025-1249.2x₹5920 cr17.1%16.0%0.6x
2025-1154.8x₹5819 cr15.9%16.0%0.6x
2025-1062.9x₹5819 cr15.9%16.0%0.6x
2025-0954.6x₹5819 cr15.9%16.0%0.6x
2025-0852.7x₹5720 cr16.2%16.0%0.6x
2025-0756.4x₹5720 cr16.2%16.0%0.6x
2025-0660.1x₹5720 cr16.2%16.0%0.6x
2025-0557.1x₹5626 cr20.1%19.0%0.8x
2025-0453.5x₹5626 cr20.1%19.0%0.8x
2025-0352.9x₹5626 cr20.1%19.0%0.8x
2025-0250.3x₹5497 cr20.7%19.0%0.8x
2025-0155.2x₹5497 cr20.7%19.0%0.8x
2024-1258.4x₹5497 cr20.7%19.0%0.8x
2024-1160.8x₹5373 cr21.4%19.0%0.8x
2024-1065.9x₹5373 cr21.4%19.0%0.8x
2024-0966.4x₹5373 cr21.4%19.0%0.8x
2024-0863.4x₹5268 cr22.0%19.0%0.8x
2024-0764.4x₹5268 cr22.0%19.0%0.8x
2024-0662.8x₹5268 cr22.0%19.0%0.8x
2024-0546.1x₹5172 cr31.4%26.0%0.9x
2024-0440.4x₹5172 cr31.4%26.0%0.9x
2024-0339.6x₹5172 cr31.4%26.0%0.9x
2024-0238.6x₹5172 cr31.4%26.0%0.9x
2024-0141.7x₹5172 cr31.4%26.0%0.9x
2023-1247.1x₹5172 cr31.4%26.0%0.9x
2023-1145.5x₹5172 cr31.4%26.0%0.9x
2023-1042.1x₹5172 cr31.4%26.0%0.9x
2023-0942.8x₹5172 cr31.4%26.0%0.9x
2023-0840.2x₹5172 cr31.4%26.0%0.9x
2023-0743.1x₹5172 cr31.4%26.0%0.9x
2023-0646.4x₹5172 cr31.4%26.0%0.9x
2023-0538.7x₹4410 cr43.8%31.0%1.2x
2023-0436.9x₹4410 cr43.8%31.0%1.2x
2023-0338.6x₹4410 cr43.8%31.0%1.2x
2023-0238.5x₹4410 cr43.8%31.0%1.2x
2023-0139.2x₹4410 cr43.8%31.0%1.2x
2022-1247.8x₹4410 cr43.8%31.0%1.2x
2022-1147.2x₹4410 cr43.8%31.0%1.2x
2022-1047.1x₹4410 cr43.8%31.0%1.2x
2022-0955.0x₹4410 cr43.8%31.0%1.2x
2022-0853.1x₹4410 cr43.8%31.0%1.2x
2022-0753.3x₹4410 cr43.8%31.0%1.2x
2022-0648.4x₹4410 cr43.8%31.0%1.2x
2022-05174.6x₹3288 cr17.2%17.0%2.6x
2022-04159.3x₹3288 cr17.2%17.0%2.6x
2022-03159.9x₹3288 cr17.2%17.0%2.6x
2022-02139.9x₹3288 cr17.2%17.0%2.6x
2022-01161.4x₹3288 cr17.2%17.0%2.6x
2021-12147.4x₹3288 cr17.2%17.0%2.6x

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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